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Killam sells second Ottawa apt. property in a month
Killam sells second Ottawa apt. property in a month
Killam Apartment REIT (KMP-UN-T) has continued its recent spate of acquisitions and dispositions, selling a 102-unit Ottawa apartment building to a private buyer. It’s the third non-core asset sale for Killam in the past two months.
Ontario doubles size of Mississauga development
A Minister Zoning Order announced May 12 will almost double the size of the Lakeview Village development, allowing for an expected 16,000 new residential units, causing concern for the city's mayor who says the order came as a surprise.
Toronto’s downtown core faces an existential crisis
As hybrid work becomes entrenched the heart of Toronto’s downtown appears stuck in a partial recovery. And city officials, business leaders and urbanists are raising concerns about the future of the financial district that powers the core of the city.
VICI to acquire 4 Edmonton, Calgary casinos for $221.7M
VICI Properties (VICI-N) will acquire the real estate assets of Century Casino & Hotel Edmonton, Century Casino St. Albert, Century Mile Racetrack and Casino in Edmonton, and Century Downs Racetrack and Casino in Calgary, from Century Casinos (CNTY-Q) for $221.7M.
Proposed tower could permanently alter iconic Toronto view
An application made to city planners last week is seeking amendments to the city's Official Plan and zoning by-laws that would permit a 51-storey residential tower to rise on Front Street West, steps from the Hockey Hall of Fame.
Winnipegs tallest building, 40-storey rental, is move-in ready
More than six years after the 300 Main Street project was conceived, the construction of Winnipeg’s tallest building, a $140 million 40-storey apartment tower near the iconic Portage and Main intersection, is move-in ready.
Four years later, Toronto's Housing Now plan is still stagnant
Housing Now was to convert surplus city-owned properties into new housing developments, with a minimum one-third of those units affordable or at no more than 80 per cent of market rent, but not a single shovel is in the ground.
Property insurers warn against proposed tax change
Canada’s largest property and casualty insurer, Intact Financial Corp. (IFC-T), says a proposed tax measure in this year’s federal budget would likely have negative consequences for insurers, their customers, and companies seeking to raise money in the capital markets.
Proposed N. Vancouver hydrogen plant goes to public hearing
The public will soon weigh in on a proposal to capture waste hydrogen from a chemical plant and make it available as clean fuel. Hydrogen firm HTEC announced plans last year to purchase the ERCO Worldwide sodium chlorate plant.
Ont.-based vegan ‘Odd Burger’ looks to global expansion
The chain has nine restaurants in Canada, 13 more under construction, and even more coming across the globe. It has announced a non-binding letter of intent to open 145 locations in India and five in Singapore over 10 years.
Downtown Vancouver retailers optimistic in rebound
Vancouver has announced a plan to rejuvenate the historic Gastown neighbourhood, which has been experiencing a retail rebound but has also been facing calls for upgrades and investment. That plan aims to bring a car-free strategy to Water Street.
Cineplex’s first-quarter loss narrows year-over-year
Cineplex Inc. (CGX-T) saw its first-quarter loss narrow year-over-year as revenue increased nearly 50 per cent. The movie theatre company says it lost $30.2 million, or 48 cents per diluted share, for the quarter ended March 31.
WeWork CEO Sandeep Mathrani to step down
Sandeep Mathrani, who was named WeWork CEO in 2020 and tasked with the company’s turnaround following a botched IPO attempt, will join Sycamore Partners as a director to lead its real estate activity.
Vacant Detroit tower gets $300M restoration
Known as the Book Tower, the building is a half-million-square-foot, 38-storey emblem of the city’s former economic power. Commercial real estate firm Bedrock’s renovation has turned it into a mixed-use, but mostly residential complex.
Fire sales on the rise as owners read the writing on the wall
Landlords are taking major losses on buildings across the U.S., with some properties trading at as much as 80% below previous valuations, according to The Wall Street Journal. The trend follows months of rising vacancies and depressed rent growth.
Ventas life science and healthcare property fund hits $2.4B
Real estate investment trust Ventas, which holds a $595M investment in the Ventas Life Science & Healthcare Real Estate Fund, disclosed in its 2023 first-quarter earnings report that the fund has a 2.9M square-foot portfolio of 13 properties.
Average Cdn. house price $716,000 in April: up $100K since Jan.
The Canadian Real Estate Association said Monday the average selling price of a home on MLS in April was $716,000. That's the fourth monthly increase in a row, and marks an increase of over $100,000 since January.
RBC report forecasts the housing market correction is over
The spring market was a turning point for the country’s housing market as April home resales spurted 11.3 per cent month over month nationwide, marking the strongest monthly advance in almost three years, the report said.
Surging mortgage interest puts homeowners in the crosshairs
CPI figures released yesterday reveal a 28.5% increase in mortgage interest costs in April compared to last year. That’s the 10th consecutive month mortgage interest costs have risen and the fourth straight month year-over-year increases topped 20 per cent.
Hamilton could be first in Cda with AC requirement for landlords
The "adequate temperature" bylaw would require landlords to ensure unit temperatures don't exceed 26 C. They could do that by installing central air conditioning systems in apartment buildings, or ensuring residents have access to AC units.
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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