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Bridge-Bonaventure JV adds 2,000 homes to huge Montreal dev.
Bridge-Bonaventure JV adds 2,000 homes to huge Mtl. dev.
The Vision Bridge-Bonaventure Consortium, which is comprised of many of Montreal’s largest development industry movers and shakers, has unveiled an updated vision for a massive development in the city’s Bridge-Bonaventure / Pointe-de-Moulin sector.
Surrey project adds to Vancouver multi-storey industrial trend
Metro Vancouver-based Colony Construction is developing a three-storey strata building in Surrey’s Campbell Heights Business Park, the latest stacked industrial project in an emerging wave of multilevel developments in the region.
BofC raises key interest rate to 4.75%, highest since 2001
The Bank of Canada raised its key overnight lending rate by 25 basis points to 4.75 per cent Wednesday, citing a stream of stronger-than-expected economic data. That’s the highest the overnight rate has been since April 2001.
Mixed-use solutions proposed for Nordstrom space
Landlords such as Cadillac Fairview and Oxford Properties haven’t disclosed their plans for space vacated by Nordstrom in B.C., Alberta and Ontario, but brokers are predicting a shift from traditional department store anchors to more creative, mixed-use spaces.
Steelport reimagines Hamilton’s steel-producing port
Can the harbourfront in Hamilton that was once synonymous with making steel be transformed into a 21st-century industrial site that will bring new jobs? Blair Welch, who, along with his brother, Brady Welch, founded Slate Asset Management, think so.
GM investing $280 million in Oshawa plant
General Motors (GM-N) says it’s investing $280 million in its Oshawa assembly plant to produce pickup trucks. GM invested more than $1.2 billion to reopen production at the plant in 2021 after shutting it down in 2019.
Alston's Pumphouse West project set to open in Wpg.
Alston Properties' Pumphouse West, a $12-million six-storey, 65-unit multi-use block with 1,600 square feet of office and retail space beside Winnipeg's former James Avenue Pumping Station, is expected to open for occupancy on Sept. 1.
Construction begins at Ottawa Hard Rock Hotel and Casino
Almost six years after plans were unveiled, construction has started on the Hard Rock Hotel and Casino in South Ottawa. Announced in 2017, the $350-million project will take over and expand the existing Rideau Carleton Casino.
Scott McGillivray launches second investment fund
The Scott McGillivray Real Estate Fund (SMREF) announced the successful launch of its second investment fund. SMREF I closed ahead of schedule in 2022, investing in projects with over 450 units and a development value of over $350 million.
Court orders sale of Stateview Homes assets
An Ontario court has ordered the sale of land assets held by Stateview Homes as part of a rolling insolvency process following the collapse of the company’s home-building business that has put hundreds of purchaser contracts at risk of cancellation.
Fire & Flower files for court protection
Cannabis retailer Fire & Flower Holdings Corp. (FAF-T) says it has received a court order for creditor protection under the Companies’ Creditors Arrangement Act. The company had been pursuing additional financing to raise capital to fund its operations.
Providence cuts carbon footprints at LTC facilities
With the help of FortisBC, Providence Health Care has delivered several energy efficiency upgrades to its Brock Fahrni long-term care home in Vancouver, tackling the difficult-to-abate carbon footprint of the health-care industry.
Blackstone taking bids on Atlanta office tower
Blackstone Real Estate Income Trust is looking to sell Three Ravinia Drive Atlanta, an office building it picked up when it acquired Preferred Apartment Communities last year for $5.8 billion. The building is expected to fetch roughly $175M.
CRE owners get creative to reduce vacancy rates
Cushman & Wakefield said office vacancy across its properties has increased since the start of 2020. Rather than despair, several CRE owners are getting creative to save their buildings and businesses.
Half of big companies plan to cut office space
A Knight Frank survey of executives in charge of real estate at 350 companies that employ 10 million found that, among major groups cutting their footprint, the largest number was aiming to reduce space by 10 to 20 per cent.
Hong Kong’s office towers have never been so empty
Hong Kong’s office towers, among the most expensive CRE in the world, have never been this empty. Billionaire Li Ka-shing’s trophy asset at Cheung Kong Center is about 25% vacant, while his latest project has signed up one tenant.
Mortgage market slows in Q1: Equifax
Equifax Canada says new mortgage originations dropped 42 per cent year-over-year in the first quarter, the lowest volume since 2014. The average loan amount was down 13.9 per cent year-over-year but only 2.9 per cent from the previous quarter.
Construction tech can help address housing challenges: KPMG
Digital technology can help address the backlog of Canadian housing and infrastructure projects bogged down by unprecedented demand and a chronic shortage of skilled labour, according to research from KPMG in Canada.
Prices and low inventory holding back sellers
The Canadian Real Estate Association reports new listings remained at a 20-year low in April. Homeowners holding onto their large houses include baby boomers who would like to downsize but are having trouble landing their next spot.
Saanich endorses small apartments on single-family lots
Saanich, the largest urban district on Vancouver Island, is preparing to create a small-apartment zone that will allow developers to build three-storey apartments on single-family lots. Lots will need to be at least 7,000 square feet.
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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