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Alterra, DBS, Platinum Vista plan 59-storey Toronto condo
Alterra, DBS, Platinum Vista plan 59-storey Toronto condo
Alterra Group of Companies, DBS Developments and Platinum Vista have partnered to propose a 59-storey condominium at the corner of Sherbourne and Linden Streets in Toronto.
Change comes to Toronto’s Dupont strip
Nine projects are either recently completed, under construction or in the planning process on Toronto's Dupont Avenue. The developers include RioCan (REI-UN-T), TAS, Tridel and Freed. The stretch also includes the high-density redevelopment of the Galleria Mall by Elad Canada.
Fredericton committee advises against 7 apt. buildings
Cedar Valley Investments' proposed seven apartment building have received the blessing of Fredericton city staff, but the committee that advises council on planning matters doesn't think it should go ahead. The project would comprise at least 870 residential units.
 | The Apartment Building Expert How will my children afford a house in today's market?Derek LoboFounder and CEO , SVN Rock Advisors Inc. |
Three-storey hotel coming to Victoria airport lands
Work is to start soon on a 129-room, three-storey, extended-stay TownePlace Suites – part of the Marriott brand – slated to open in spring 2025. The hotel will be built on 3.5 acres of leased Victoria Airport Authority commercial land.
Amazon closes northwest Winnipeg delivery station
After less than three years in operation, Amazon has closed its 113,000-square-foot Plymouth Street delivery station, consolidating its last-mile delivery services for the Winnipeg capital region into its slightly newer Regent Avenue West location.
Cannabis firm Cronos to cease Winnipeg operations
Cronos Group Inc. (CRON-T), a cannabis company doing cutting-edge fermentation work in Winnipeg, has decided to close its operation by the end of the year. Cronos bought the 84,000-square-foot former Apotex Fermentation plant in 2019 for an undisclosed sum.
Capcium's Mtl. pharmaceutical factory seeks buyer
A bankruptcy court is accepting bids on Pointe-Claire pharmaceutical company Capcium's new 139,931-square-foot factory until Aug. 22. A decision on a potential buyer could be confirmed at the next bankruptcy court hearing, scheduled for Aug. 30.
Wildfires roar into W. Kelowna; Yellowknife residents flee
Yellowknife’s 20,000 residents continue to evacuate as wildfires approach the city. Meanwhile, a state of emergency was declared early Friday in Kelowna, B.C., after wildfires jumped Okanagan Lake. More than 2,400 properties near West Kelowna are under evacuation orders.
BAZIS' revised proposal calls for 23-storey mixed-use
BAZIS' revised proposal for 100 Bond St. in downtown Toronto reduces the mixed-use tower's height to 23 storeys from its initial proposal of 30. The Rosario "Roy" Varacalli-designed tower would include 336 residential units and 2,583 square feet of retail.
Cities to see slow growth due to inflation
Canadian cities will see muted growth throughout the remainder of 2023 and into 2024 as inflation and higher interest rates persist, weighing down consumer activity according to new research from The Conference Board of Canada.
Two schools P.E.I.'s first to get net-zero upgrades
Cardigan Consolidated and Sherwood Elementary are the first Prince Edward Island schools to receive net-zero upgrades including solar and geothermal. Releases say Sherwood will be "net-zero ready," while Cardigan will become P.E.I.’s first net-zero retrofitted school.
Capital One selling $1B NYC office loan portfolio
Capital One has sold a portfolio of roughly $1B in loans tied to office buildings with a concentration in New York City. It is unclear which loans are changing hands as investment manager Fortress Investment Group acquires the debt.
Demolition looming for more underused offices
With high costs and a litany of other challenges, converting underused office buildings into housing, laboratory space or another in-demand property types has been largely characterized as a drop in the empty-office bucket. Cue the wrecking ball.
Evergrande seeks U.S. court approval for $32B debt
Embattled developer China Evergrande Group has filed for U.S. bankruptcy protection as part of one of the world’s biggest debt restructurings, as anxiety grows over China’s worsening property crisis and its impact on the weakening economy.
U.S. affordability at worst point in nearly four decades
A recent surge in U.S mortgage rates has pushed affordability to the lowest level in nearly four decades. Thursday, Freddie Mac’s average rate on a 30-year, fixed loan jumped to 7.09 per cent, the highest since 2002.
Falling housing starts bad for affordability: Desjardins
After housing starts fell in July, Desjardins principal economist Marc Desormeaux anticipates a further slowdown as economic conditions soften – and warns the trend will not help ease affordability challenges in Canada’s pricey real estate market.
House prices up 2.4% month-over-month: Teranet
Home prices in Canada continued to rise in July, according to the Teranet-National Bank composite index. The index was up 2.4 per cent from June, after seasonal adjustments, the fourth consecutive monthly increase.
34.1% of Canadians regret their mortgage situation
Many Canadian homeowners are facing huge and unexpected increases in their monthly mortgage payments due to interest rate hikes. According to a Real Estate and Mortgage Institute of Canada online survey, 34.1 per cent regret their mortgage situation.
Most GTA homes properties with set offer date failed to sell
In July, according to data compiled by a new real estate search service called TopHouse.com, the percentage of Toronto Regional Real Estate Board homes listed for sale that sold on an offer day is about seven per cent.
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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