Devimco, Fonds join MACH at Quartier des lumières

RENX  Residential, Commercial  •  Condominiums, Office, Apartments, Retail  •  Greater Montreal

Devimco Immobilier and Fonds immobilier de solidarité FTQ will partner with Groupe MACH as developers of 2,000 condominiums at the massive Quartier des lumières in Montreal. MACH leads the QDL initiative, which will feature 4.5 million square feet of mixed-use development.

Bentall Centre renos pay off with major lease

RENX  Commercial  •  Office  •  Metro Vancouver

Hudson Pacific Properties’ strategy to update and re-brand downtown Vancouver’s landmark Bentall Centre is paying off with the signing of major tech tenant Shopify, which will move its West Coast headquarters into the Bentall IV building by year’s end.

CTN proposes four towers for Finch West Station

Residential, Commercial  •  Urban Toronto

CTN Developments‘ new proposal seeks rezoning and subdivision approval for a mixed-use development that would bring four towers to Finch Avenue West, just  steps from Finch West subway station on the TTC’s Line 1 and a future LRT terminal station.

Agincourt Mall redevelopment reduced to 12 towers

Residential, Commercial  •  Urban Toronto

North American Development Group‘s proposed redevelopment of Agincourt Mall now contains 12 towers, ranging in height from 11 to 43 storeys, in place of the original 13, which would have ranged from 20 to 45 storeys. These changes result in a 17.6% reduction in residential floor area.

Strong office rent growth foreseen for T.O.: JLL

Commercial  •  REMI Network

Toronto is projected to experience some of the healthiest office rent growth in 2020 of any of the 30 major world cities JLL monitors. That follows double-digit increases last year when Toronto was dubbed one of the “stand out performers.”

Sponsored by MNP Is your business model static or dynamic?

How technology can improve your financial management and property engagement Investment and development prospects across the Canadian commercial real estate (CRE) industry continue to pose unique challenges and opportunities.

Corporate Stays opening at The Amazing Brentwood

Residential, Commercial  •  Globe Newswire  •  RENX

Corporate Stays, Canada’s biggest corporate housing provider, is opening a high-rise tower that will eventually serve 6,000 residents in Burnaby’s The Amazing Brentwood. The tower features 300 premium rental homes in its inaugural tower, available for rent this month.

The People Space › People Space: New Slate Retail CEO, more SNC hirings

Don Wilcox: Managing Editor

Quebec, James Bay Cree sign $4.7B development deal

Residential, Commercial  •  Montreal Gazette  •  Winnipeg Free Press

Quebec Premier François Legault and the James Bay Cree have signed a $4.7-billion deal – The Grand Alliance – that will extend rail networks north, protect new wildlife habitats against development and partner on new infrastructure projects.

Ottawa needs to reboot infrastructure bank: Opinion

Commercial  •  Globe and Mail

The federal Liberals are mulling a reboot of the Canada Infrastructure Bank over frustrations with what the government perceives as a failure to execute at the $35-billion investment fund.

Digital Domain planning Montreal studio expansion

Commercial  •  Montreal Gazette

Having opened its doors in Montreal in March, special-effects studio Digital Domain recently completed work on the 35,000 square-foot facility as part of a first phase of construction. Expansion work could begin in April or May and run into 2021.

Temple receives court approval for Morguard takeover

Commercial  •  Canada Newswire  •  RENX

Temple Hotels (TPH-T) has received a final order by the Ontario Superior Court of Justice approving the statutory plan of arrangement by which Morguard Corporation will acquire all common shares of Temple it does not currently own.

Village planned for West Vancouver’s Hollyburn Mountain

Residential  •  Vancouver Sun

West Vancouver — among B.C.’s wealthiest of postal codes — is planning to diversify its housing stock with a Whistler-style village on the slopes of Hollyburn Mountain. The vision for the 350 acres is for mixed housing for as many as 7,000 residents.

Three proxy advisers recommend HBC privatization deal

Commercial  •  Toronto Star

Hudson’s Bay Co. (HBC-T) says three proxy advisory firms – Institutional Shareholder Services, Glass Lewis and Egan-Jones – have recommended shareholders vote in favour of a plan to take the retailer private.

QuadReal, Realstar acquire $172M apartment complex

Residential, Commercial  •  IPE Real Assets

Realstar and QuadReal Property Group’s private rented sector partnership has invested $172 million Cdn to buy an apartment complex in East London from Kennedy Wilson. Pioneer Point includes 294 residential units within two towers and 35,000 square feet of fully leased commercial space.

Foreign investment in U.S. CRE plummeted 54% in 2019

Commercial  •  CP Executive

Foreign investment in U.S. CRE plunged by 54 per cent in 2019, falling short of outbound investment for the first time in six years, according to a report by CBRE. The drop was largely caused by a pullback in entity-level sales.

Ottawa OK’s Caivan’s 500-home subdivision

Residential  •  CBC

Ottawa’s planning committee has approved Caivan Communities’ rezoning of a gravel pit to make way for 500 homes, but the subdivision won’t go ahead until the mining licence for the property is formally retired by the Ontario government.

Montreal areas with the largest rent increases

Residential  •  MTL Blog

While rent increases and low vacancy rates indicate a strong and robust real estate market in Montreal, it seems the average person will have a harder time finding a rental property on the island, according to Rentals.ca’s Rent Report.

Montreal claims right of first refusal on properties

Residential  •  CTV  •  Montreal Gazette

The City of Montreal on Monday announced it now has the right of first refusal on properties that go up for sale in “key neighbourhoods” in order to improve its inventory of social and community housing.

Toronto’s Airbnb rules could shake up rental market

Residential  •  Globe and Mail (Sub. required)

The basement unit of Danny Jellis’ house, located in Toronto’s west end, clears $3,000 a month from Airbnb bookings. The previous long-term tenants paid $1,100. The Airbnb cash is “the cherry on the cake.” Not for much longer.