Office conversions could create 20,000+ Cdn. apartments: CUI

Most of Canada’s major downtown office markets are in the doldrums — and that presents a unique opportunity to convert them into residential uses, a new report from the Canadian Urban Institute posited.

Palm's rebranded Marriott hotels hitting market at great time

Palm Holdings is converting two of its Canadian hotels to the Marriott brand just in time for what should be a record year for the hotel industry, says Gordon Chow, Palm's chief operating officer, North America.

Kelowna pulls prominent downtown lots off market

The City of Kelowna has taken two downtown properties off the market. The combined asking price was $11.275 million and a sale was pending in the fall to Kelowna-based developer Ridge North America, but conditions were never satisfied.

Mid-sized Vancouver venues attracting investment

The range and quality of small and medium-sized Vancouver venues is set to improve thanks to governments and developers who are prepared to pump capital into a range of city sites including the Pacific National Exhibition (PNE).

InterRent seeing brisk demand for Ottawa conversion project

InterRent REIT (IIP-UN-T) says it’s seeing robust demand for rental suites at the Slayte, one of Ottawa’s most prominent office-to-residential conversion projects, with nearly half of the former government office building’s 158 units now occupied.

RNDSQR's Winnipeg heritage building makeover nears end

RNDSQR's four-year makeover of Winnipeg's Great West Metal building and the erection of a new 206-unit apartment development that will wrap around the Exchange District's heritage building, will be ready for occupancy beginning in July.

Carbonleo, L Catterton invest in Rennaï's Mtl. flagship

With the support of its new investment partners, Carbonleo and L Catterton Real Estate, beauty and wellness concept Rennaï will open its first flagship retail location in August 2024 at Royalmount, a new, luxury mixed-use development in Montreal.

Epic Alliance investors seek compensation

Investors who lost hundreds of millions collectively when Epic Alliance Real Estate collapsed in January 2022 want the province to fine the company's founders Rochelle LaFlamme and Alisa Thompson and ban the pair from ever trading securities again.

Restaurants are still suffering post-pandemic

Post-pandemic challenges include inflation the likes of which haven’t been seen in decades, COVID-related debt, supply-chain problems, labour shortages, rising taxes, red tape and the switch to delivery apps, said Mark von Schellwitz, vice-president of Western Canada with Restaurants Canada.

E-commerce sales down eight per cent year-over-year

In its global Q1 Shopping Index, Salesforce indicates digital online sales in Canada were down eight per cent year-over-year in Q1 2023 and the decline was worse than globally where it was only two per cent.

REIT first-quarter financial results

BTB REIT, (BTB-UN-T), Canada Newswire

CT REIT, (CRT-UN-T), Canada Newswire

InterRent REIT, (IIP-UN-T), Business Wire

Inovalis REIT, (INO-UN-T), Business Wire

Minto Apartment REIT, (MI-UN-T), Canada Newswire

Four Seasons bringing high-end residences to Las Vegas

Four Seasons is introducing a new branded standalone residential tower — Four Seasons Residences Las Vegas — set within the upscale MacDonald Highlands community in Henderson, Nev. The tower will have 171 high-rise residences and six standalone, family-style villas.

Coca-Cola to build $650M facility in Upstate N.Y.

The Coca-Cola Co. has selected Webster, N.Y., for the construction of a $650-million, 745,000-square-foot facility that will produce fairlife‘s ultra-filtered milk. Scheduled for completion in 2025, the fairlife dairy plant will be the largest in the Northeast.

Novva to build $500M data centre in Reno

Novva Data Centers will build its second facility in Nevada and fourth overall on a 20-acre site in Reno, within the Tahoe-Reno Industrial Center. The 300,000-square-foot Novva Tahoe Reno will cost more than $500 million to build.

Sweden’s CRE woes deepen as top landlord conserves cash

Sweden’s property crisis worsened after SBB - one of the country’s largest commercial landlords - took steps to conserve cash and put its focus on selling assets to plug a funding gap.

Quebec needs 130,000 more homes by 2031: Study

The construction of 130,000 additional homes by 2031 would be necessary to stem the housing crisis, estimates the Corporation des propriétaires immobiliers du Québec, which released results of a study on the state of the rental market in the province.

Quebec tables bill to crack down on short-term rentals

The Quebec government tabled a bill Tuesday that would require short-term rental companies to ensure their online listings are certified by the province. The bill comes after seven died in March in a fire in an Old Montreal heritage building.

Toronto's rental replacement policy may be weakened

The City of Toronto is warning that its rental replacement policy, designed to ensure that tenants in older apartment buildings torn down for condos get comparable units at similar rents, is in danger of being weakened by the province.

Vancouver weighs exempting new homes from vacancy tax

A city staff report proposes a number of changes to Vancouver’s empty homes tax program. One is the suggestion to rescind a vote by the last council to increase the three per cent tax to five per cent this year.