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Avillia plans major lakeside mixed-use development in Vernon
Avillia plans major lakeside mixed-use development in Vernon
Edmonton-based Avillia Developments has launched a major project in Vernon, B.C., on the waterfront of Okanagan Lake. The Port Okanagan development will include significant multiresidential building, a hotel and commercial space.
Magna expands EV focus with $470M investment in Ontario
Aurora, Ont.-based Magna International Inc. is investing over $470 million to expand its operations across the province, which will include a new battery enclosures facility in Brampton to support the electric Ford F-150 Lightning.
ULI/PwC Emerging Trends report: 'Things have changed a bit'
The commercial real estate landscape changed significantly in 2022, so it's not surprising executives have a whole new set of problems keeping them up at night according to the ULI/PWC Emerging Trends in Real Estate 2023 report.
Brookfield Office Trust defaults on $784M in loans
Brookfield DTLA Fund Office Trust Investor said subsidiaries that owned L.A.'s 52-storey Gas Company Tower were in default on $465M in loans. Brookfield DTLA has also defaulted on $319M on the 52-storey 777 Tower.
Country Grocer acquires 49th Parallel Grocery
Country Grocer is acquiring 49th Parallel Grocery Group of Companies and its four locations in Ladysmith, Chemainus, Cedar and Duncan, B.C. The deal unifies the two grocery retailers, which will operate 11 locations across Vancouver Island under Country Grocer ownership.
Developers with partial foreign ownership can't build houses
The Canadian Home Builder Association (CHBA) is calling on the federal government and Canada Mortgage and Housing Corp. (CMHC) to change regulations within the foreign buyer ban they say work against building more housing supply.
Coromandel insolvency rattles Vancouver real estate
The financial difficulties of Vancouver real estate development company Coromandel Properties, sitting on close to a billion dollars in property, has raised questions about the health of the housing market in Vancouver.
Albion loses licence to build and sell homes in Ontario
Albion Building Consultant Inc. (Albion) has had its licence to build and sell homes in Ontario revoked by the Home Construction Regulatory Authority (HCRA) following Albion’s prior convictions for failing to enrol new homes in the warranty program with Tarion.
Feds commit $235.5M for green building programs
The Canadian government has announced two new green building programs totalling $235.5 million to support deep retrofits for commercial, institutional and mid- or high-rise multi-unit residential buildings, and up to six neighbourhoods across the country.
Remington Group in bid to buy Ottawa Senators
Canadian actor Ryan Reynolds has teamed up with Vaughan-based Remington Group in a bid to buy the Ottawa Senators. The consortium that will bid for the team is determined to build a new rink at LeBreton Flats in downtown Ottawa.
Walmart to close three U.S. technology hubs
Walmart will close three of its 11 U.S. technology hubs and require affected workers to relocate, scaling back its footprint after unveiling an expansion plan last year. Tech offices will be shut in Austin, Texas; Portland, Ore.; and Carlsbad, Calif.
Subway chain exploring a sale after record-setting year
Milford, Conn.-based Subway, one of the world’s largest restaurant chains, said it’s exploring a possible sale — offering a rare opportunity to nab a truly global brand. A deal could value the company at more than US$10 billion.
European office demand rebounds from COVID
Demand for office space in Europe rebounded strongly last year from COVID-19, helping the segment claim higher rents and partially offsetting the price correction from surging interest rates, data compiled by broker Cushman & Wakefield Plc show.
Trump’s 40 Wall St. put on lender watch
The mortgage on former president Donald Trump’s tower at 40 Wall St. in Manhattan was placed on a lender watchlist. The vacancy rate at the 72-storey building, Trump’s most valuable skyscraper, climbed to almost 18% in Q3 2022.
Home sales in January at lowest level for month since 2009: CREA
The Canadian Real Estate Association says homes sales in January were the lowest for the month since 2009 and fell 37.1 per cent compared with a year ago.
Annual pace of housing starts fell 13% in January: CMHC
Canada Mortgage and Housing Corp. (CMHC) says the annual pace of housing starts fell 13 per cent in January. The seasonally adjusted annual rate of housing starts for January was 215,365 units compared with 248,296 in December.
What’s a home worth today? It’s a guessing game
More than half of all Toronto-area listings in January were taken down — evidence of a wild market where the right price is a mystery, according to Nasma Ali, founder and realtor at One Group.
Ourboro expands co-ownership product offering
Ourboro, a Toronto-based company dedicated to providing access to homeownership through co-ownership, is expanding its product offering to new Ontario regions including Kitchener/Waterloo, Hamilton, Guelph, and London. Applications will be accepted for these new service regions starting Feb. 9.
Industry Events
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Canada Real Estate Auction
Oct 22 2024
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Calgary Real Estate Forum
Oct 29 2024
Calgary TELUS Convention Centre
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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