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True North Square to build new tower for Wawanesa
True North Square to build new tower for Wawanesa
Winnipeg’s centrepiece downtown True North Square development will soon have its fifth and final office tower under construction, with the announcement Manitoba-based Wawanesa Mutual Insurance Company will move its headquarters into a new, 19-storey building at the property.
B.C. has net more than $1 billion for ‘surplus’ land
Vancouver health centres, North Shore schools, and acres of agricultural land in Surrey are among the 164 pieces of “surplus” land that British Columbia has sold for more than $1 billion since 2013.
WeWork to open new office in downtown Vancouver
• Straight
Co-working giant WeWork announced the location of its newest Vancouver space will be 1045 Howe Street. The site spans an expansive four floors of the building, with more than 1,200 desks available to those looking for a professional community.
Kidco Work pilots child care, co-working at one facility
Canada’s largest corporate child care provider, Kids & Company, is launching co-working for parents at several North American locations. Kidco Work is being piloted in both Canada and the United States, including 308 Queen Street West in Toronto.
Investors spent billions; Calgary developer never built
Investors from Singapore to Toronto are wondering why North America’s vaunted urban sprawl ebbed before the billions they pumped into Calgary-based Walton Group of Companies – a giant “land banking” firm – could pay off.
Calgary lagging behind on TOD: Opinion
• CBC
I was gobsmacked by the numerous high-rise residential towers next to the Metrotown SkyTrain station and Metrotown Mall in Burnaby. I couldn’t help but wonder why there hasn’t been major residential development next to Calgary’s Chinook and Anderson LRT stations.
Vintage hotels double as city tourist attractions
Hotels that have been around for 80 years or more can cost a fortune to keep in good condition, but owners say they are proud to maintain them to a sufficient standard that they serve as tourist attractions.
Planning committee approves Château Laurier extension
• Ottawa Business Journal • CBC • Ottawa Citizen
Ottawa’s planning committee approved the site plan for Fairmont Château Laurier’s proposed addition Thursday following hours of debate over procedure and heritage design, leaving some councillors and members of the public disappointed in the end result.
Group Mach submits rival bid for Transat
• Globe and Mail • CBC
The battle for Transat A.T. Inc. appears set to heat up as Montreal real estate investor Group Mach submits a formal offer for the airline and vacation company that is still in talks for a friendly takeover with Air Canada.
Toronto parking regulation overhaul will cut costs: Report
Toronto has not meaningfully updated its parking standards since 1986, says a Ryerson Urban Analytics Institute report. “That’s a problem considering that affordability, stormwater capacity and travel behaviour are factors that need to be considered,” says professor Murtaza Haider.
HBC reports profit due to sale of NYC building
• Toronto Star • Reuters • Bloomberg
Hudson’s Bay Co. (HBC-T) reported a profit of $275 million in its latest quarter, boosted by the sale of its flagship Lord and Taylor building in New York. The retailer says the profit compared to a year-over-year loss of $398 million.
McDonald’s global HQ completed in under seven months
Last June, McDonald’s (MCD-N) moved into its new global headquarters in Chicago’s Fulton Market. It occupies the entire 492,000 square feet of the office space and portions of ground-floor retail space of the class-A, nine-storey, 567,000-square-foot building.
What to do with the Toronto Islands?
• Globe and Mail (Subscription required)
Taking up a great deal of real estate on the Toronto Islands is the Avenue of the Island. Conceived in the 1950s and built in the early 1960s, it is a pedestrian avenue that looks remarkably like something from Brasilia.
May house sales highest in 16 months: CREA
• CBC • Globe and Mail • Canada Newswire
May was the best month for home sales in 16 months, the Canadian Real Estate Association said Friday, as activity in big cities such as Toronto and Vancouver helped the national market rebound from the doldrums seen earlier this year.
Canada’s housing market tumbles in global ranking
• Globe and Mail (Sub. required)
Canada’s housing market continues to tumble in global rankings, but “opportunistic buyers” are now afoot. The latest report from Knight Frank ranks Canada as No. 44 of 56 countries measured in Q1 2019.
Nearly half of Vancouver condos not owner-occupied
• Vancouver Sun • Globe and Mail (Sub. required)
Almost half the condos in Vancouver are not-owner occupied, and almost one-fifth of the detached homes. The startling figures come from data released by the Canadian Housing Statistics Program on Tuesday.
Edmonton’s most expensive real estate listings
• CTV
The latest numbers show it’s a buyer’s market out there — so just how much are you willing to spend? Edmonton’s real estate landscape has cooled off over the last few years, but that doesn’t necessarily mean doom and gloom.
Manitoba disputes millennials priced out of market
A recent study by an advocacy group for young Canadians suggests that millennials are being priced out of Manitoba’s housing market, but the Manitoba Real Estate Association (MREA) is refuting those claims.
Canada’s priciest condo relisted with no price drop
The most expensive condo on Canada’s MLS has been relisted, as of June 7, at $29,998,000. That’s no change from its previous listing price, set in December 2018, but an $8 million discount off its original January 2018 price.
Only London’s most expensive homes are Brexit-proof
• Forbes
Foreign buyers are flocking to buy luxury homes worth more than $33 million Cdn in central London while the rest of the property market in the British capital has stalled due to Brexit, according to real estate agents Knight Frank.
RENX in Review: Our Top Recent Stories
Most Viewed: Allied to buy 700 De La Gauchetiére in Montreal
Editor’s Pick: Development in Kelowna setting all-time records
From West to East: Vancouver’s Beedie expands industrial developments to GTA
Opinion: Could a long-term national lease devalue your CRE?
ICYMI Last Week: Oshawa’s unique Rossland Park rental property sells for $220M
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Oct 29 2024
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Palais des Festivals, Cannes, France
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