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Square Victoria poised to be Montreal's premier office district
Square Victoria poised to be Montreal's premier office district
The Square Victoria area of Montreal will soon become the destination for best-in-class office space in the city thanks to a flurry of new development, industry experts told the recent Montreal Real Estate Forum.
Park Place next to join thriving SmartVMC community
SmartVMC, the 100-acre master-planned community from SmartCentres REIT, is at the heart of Vaughan Metropolitan Centre. The project's next phase — two towers of soaring residences dubbed Park Place — is now in the selling stage.
Construction underway at CF's 750 Peel in Montreal
Cadillac Fairview has begun construction on 750 Peel, a 500-unit rental tower in the Quad Windsor subdivision near the Bell Centre in Montreal's southwest downtown. The construction of the 35-storey tower will stretch over nearly three years.
How Calgary's University District came to thrive
ANALYSIS: For University District — a major development on land that sat vacant for decades just west of the University of Calgary campus — expectations were always high. Fast-forward nearly a decade and University District is living up to its billing.
Calgary's Kensington Gate reborn as The Kenten
Sable Group of Companies is repurposing Calgary's Kensington Gate as The Kenten. The current 80 residential units will be replaced by 50 condominiums ranging from 1,100 to two 4,700-square-foot penthouses. Retail and office space will remain as is.
Stanford proposes 12-storey mixed-use in Parkdale
Stanford Homes has proposed a 12-storey mixed-use development for Jameson Plaza Ltd.-owned land at 1437 Queen St. W. in Parkdale. The RAW Design building would include 249 residential units and nearly 8,500 square feet of retail space.
Centre Block Phase 1 renovation to be completed this year
The federal government’s $5-billion undertaking of rehabilitation for Canada’s main Parliament building is on track in terms of timeline and budget, the project’s lead says, with the project’s first phase to be completed by the end of 2023.
TotalEnergies accepts $4.5B Couche-Tard retail asset offer
Alimentation Couche-Tard Inc. (ATD-T) announced TotalEnergies has accepted its firm offer to acquire certain European retail assets - including 100% of TotalEnergies retail assets in Germany and the Netherlands - for a purchase price of approximately $4.5 billion Cdn.
10 Ontario Lowe’s to be converted To RONA+ banner
RONA, one of Canada’s biggest home improvement retailers, has announced it will be converting 10 Lowe’s stores in July to a new banner called RONA+. “This is an important step in our vision for the future of RONA,” said Catherine Laporte, vice-president, marketing at RONA, in a statement.
Avalon buys site to refine lithium, secures funding
Avalon Advanced Materials Inc.. has taken two major steps toward its goal of vertically integrating North America’s lithium supply chain, including a $63 million investment from SCR-Sibelco NV and acquiring a Thunder Bay industrial site.
Real estate podcasts
Michael Cooper, Dream Unlimited: Portfolios built for the 2020s, CRE Podcast
Hugh Gorman, Colonnade BridgePort: Investing in Ottawa, CRE Podcast
Mark Cohen, Columbia Business School: Rise and fall of department stores, The Interview Series
Distressed U.S. CRE assets rise to $64B: MSCI
Distress is spreading in U.S. CRE, with the amount of troubled assets climbing to nearly $64 billion in Q1 2023. A MSCI Real Assets report noted nearly $155 billion of other commercial property assets are potentially troubled.
Empty office buildings have become a debt time bomb
In New York and London, owners of gleaming office towers are walking away from their debt. The landlords of downtown San Francisco’s largest mall have abandoned it. A new Hong Kong skyscraper is only a quarter leased.
Institutions work to readjust CRE allocations
U.S. institutions that have been steadily raising commercial real estate target allocations higher in recent years are now opting to stand pat as they focus on rebalancing portfolios and wait for pricing to reset in the higher rate environment.
Macerich eyes makeovers for former Sears boxes
Macerich has acquired the remaining 50 per cent interest in five former Sears boxes totalling 819,000 square feet from JV partner Seritage Growth Properties as it plans to redevelop the properties in Connecticut, Arizona, California, New Jersey and Oregon.
New T.O., Van. renters paying extra $500 per month: CMHC
A Canada Mortgage and Housing Corp. report shows rents for two-bedroom units rented over the past year in Toronto and Vancouver are on average about $500 above rents for units occupied for more than a year.
14 cities where renters can afford to buy a house
In 14 of Canada’s 50 most populous cities, renters earn more than the income needed to buy a starter home, according to a Point2 Homes study. At the top of the list is Edmonton, followed by St. John’s, N.L.
Lytton sues CN, CP rail, Transport Canada over 2021 fire
The Village of Lytton, B.C., and the Thompson-Nicola Regional District are suing CP, CN and Transport Canada, alleging they were negligent to let trains pass through the town during the deadly 2021 heat dome before it was razed by wildfire.
Revera, ONE Properties open Edm. retirement residence
Revera Inc., an owner, operator, developer and innovator in the senior living sector, and ONE Properties, a privately owned, integrated real estate firm, officially marked the grand opening of 290-suite Glenora Park, Edmonton’s newest retirement living residence.
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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