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Reliance, Quadreal JV gets OK for 130 West Broadway towers
Reliance, Quadreal JV gets OK for 130 West Broadway towers
The co-developer of a multi-tower mixed-use apartment project on Vancouver’s West Broadway is happy to see his project moving forward, but cautions that more expedited approvals are needed to bring other similar projects within the Broadway Plan to fruition.
Alignvest acquires two student housing towers in Waterloo
Alignvest Student Housing REIT has expanded its portfolio in Waterloo, Ont., with the acquisitions of twin 21-storey student residential towers at 252 and 254 Phillip St.
Office tower owners ‘aggressively’ trying to off-load space
Real estate investment trusts are trying to “aggressively” off-load their office space as remote work continues to pummel the market. It’s a situation experts say brings more turmoil and may lead to more building conversions, full-scale demolitions and declining valuations.
RENX vacation week July 1-5
TO OUR VALUED READERS: RENX staff will be taking our annual break for a hard-earned vacation during the week of July 1-5.
The battle for distribution's 'middle mile'
Major industry players such as Loblaw, Sobeys and Metro have invested heavily in the 'middle mile'. Metro's new distribution centre in Terrebonne is an example. As big as 10 football fields (600,000 sq. ft.), it serves 700 stores in Quebec.
Former Vancouver Nordstrom store could linger empty
Vancouver’s downtown shopping economy has suffered since Nordstrom closed its flagship Vancouver store last June. Cadillac Fairview, the CF Pacific Centre's property manager and 50-per-cent owner, is in no hurry to redevelop or fill the 230,000-sq.-ft. space.
Toronto Foodland could be replaced by bigger store
A grocery store in Toronto could be demolished to make way for a proposed mid-rise development, but locals in The Beaches neighbourhood probably shouldn't fret too much, as the Foodland grocery will be returning to the site, bigger and better.
Primaris to begin demolition of Sears building in Windsor
Demolition of the former Sears building in Windsor is set to begin in July, the CEO of the company that owns Devonshire Mall said. Alex Avery of Primaris real estate investment trust said work has started inside of the building.
Lanesborough REIT shareholders reject plan to sell assets
At its annual general and special meeting, Lanesborough REIT (LRT.UN-T) shareholders rejected a plan to sell 11 properties and a tract of vacant land for $42.7 million. A second resolution to wind up and terminate LREIT was subsequently shelved.
Will Vancouver change its protected views policy?
Vancounver's views have been protected since 1989 with 26 view cones - protected views from various points of the city that cannot be obstructed. On July 10, a report on whether they are all necessary is to go before city council.
Up 94% from last May, Toronto is awash in condo listings
A flood of condos are being listed in Toronto. At the end of May, there were 6,350 active condo listings in the city, an increase of 94 per cent from last May, according to Toronto Regional Real Estate Board figures.
Minto Apartment REIT CEO bullish on rental housing
The CEO of Minto Apartment REIT says he’s optimistic on Canada’s rental housing market despite the headwinds being faced by many Canadian real estate investors. “We're really excited to own rental apartments in Canada,” Jonathan Li told BNN Bloomberg.
17-storey rental housing tower proposed for Vancouver
Three detached houses built in 1910 could be replaced by a 17-storey secured purpose-built rental housing tower near Vancounver's Mount Pleasant station. Fastmark Acquisitions has submitted a rezoning application calling for a total of 138 secured purpose-built rental homes.
B.C. developer allegedly built studios, not one bedrooms
Vancouver-based Voyce Cambie Development and its marketers are being sued in B.C. Supreme Court for allegedly marketing and selling units as "junior one-bedroom plus flex" homes and then building studio units with no walls to separate any bedrooms.
Jim Pattison Group buys 194-store U.S. Save Mart stores
Vancouver-based Jim Pattison Group announced that it has acquired the 194-store Modesto, Calif.-based grocery chain Save Mart Cos. It did not provide financial details. Save Mart operates 185 stores in California and nine in Nevada.
Goldman Sachs unleashes $3.4B fund to exploit RE fluctuations
Goldman Sachs raised $3.4 billion US for its Vintage Real Estate Partners III fund, which invests in shares of real estate funds. It will be used to purchase stakes in these funds, which own parts of large property portfolios.
Manulife Investment Management partners with Foundry
Manulife Investment Management has formed a partnership with Foundry Commercial to acquire, develop and lease industrial outdoor storage sites in key infill industrial markets throughout the Southeast. The portfolio consists of 10 sites in Atlanta, Nashville, Dallas-Fort Worth and Jacksonville.
$500M Florida resort expansion looks to ‘co-exist’ with nature
Resort operator TradeWinds has started prep work for a $500-million US expansion at its massive, 25-acre property along St. Pete Beach in Florida that will prioritize sustainability and pedestrian-friendly spaces.
HK mall gets $1B upgrade with help from Hermes, LVMH
Hongkong Land Holdings Ltd. and retail tenants including Hermes and Louis Vuitton will invest $1 billion US to revamp the developer’s high-end mall in Hong Kong in a vote of confidence in the city’s luxury retail industry.
Industry Events
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Quebec City Real Estate Forum
Oct 16 2024
Quebec City Convention Centre
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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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