The Waverley heads up busy 2021 for Fitzrovia Real Estate

RENX  Residential  •  Retail, Apartments  •  Toronto / GTA

Fitzrovia Real Estate Inc.’s The Waverley is now leasing, and the firm is facing a very busy 2021. “We have four buildings with about 1,300 units to deliver in the next seven months,” Fitzrovia chief executive officer Adrian Rocca told RENX.

Cominar’s largest unitholder reducing his stake

Commercial  •  La Presse  •  RENX

“Disappointed with the length of the strategic review process and the significant costs to unitholders with no results (arising from this process),” Cominar REIT‘s (CUF-UN-T) largest shareholder George Armoyan has sold more than 1,280,000 shares in the last two weeks.

Parkit acquires Ottawa Industrial building for $28.5M

Commercial  •  Yahoo Finance  •  RENX

Parkit Enterprise Inc. (PKT-X) announced it has agreed to acquire a class-A industrial building with a fully tenanted 180,000 square feet of rentable space on seven acres in Ottawa for $28,500,000. The vendor, Access Self Storage, is a related party to Parkit.

Arya proposes four-building, 1,000-unit condo complex

Residential  •  Urban Toronto

Arya Corp has proposed a 1,000-condo complex in Scarborough’s Woburn neighbourhood. The Turner Fleischer Architects-designed proposal comprises four new residential buildings ranging from six to 36 storeys in addition to new public streets and a public park.

Master plan for Wpg. barracks project unveiled

Residential, Commercial  •  CBC  •  Winnipeg Free Press  •  Global News

The final master plan for the former Kapyong Barracks site in Winnipeg has been released to the public, and shows the site could have up to 3,000 new residences and 1.2 million square feet of commercial space.

TransLink buys 27-acre site for maintenance centre

Commercial  •  Daily Hive

TransLink has acquired a significant 27-acre site at the southern edge of Coquitlam for a major operations and maintenance centre for SkyTrain. The property is located at 225 North Road, a large industrial site with warehouse structures constructed in 1957.

The Saskatchewan Edge › Three important lease renewal tips for commercial tenants

Kelly Macsymic: Business Manager, Stuart Commercial Inc., Sales Associate, ICR Commercial Real Estate

Hallmark Hotels proposes 12-storey Vancouver hotel

Commercial  •  urbanYVR

Hallmark Hotels, owners of hotels in Alberta, Ontario and B.C., is planning a new hotel at West Broadway and Laurel Street in Vancouver. The proposal calls for a 12-storey, 147-room building with restaurant space at grade, designed by Zeidler Architecture.

Churchill railway, port now fully locally owned

Commercial  •  Winnipeg Free Press

Arctic Gateway Group, the consortium that took over the Hudson Bay Railway and Port of Churchill in 2018, is now entirely owned by northern Manitoba groups, with external partners including Toronto financier Fairfax (FFH-T) leaving the consortium.

Ford defends Ontario’s ministerial zoning orders

Residential, Commercial  •  CTV

Premier Doug Ford defended Ontario’s use of a controversial land planning tool amid mounting concerns it was being used to green-light developments without proper environmental consultations. A ministerial zoning order provides the power to fast-track development in a given area.

BMO joins Partnership for Carbon Accounting Financials

BIZ  Energy, Commercial  •  Investment  •  National

The Bank of Montreal, one of the world’s leading financial institutions when it comes to sustainability, joined Partnership for Carbon Accounting Financials (PCAF), a global partnership of financial institutions, to work together towards addressing greenhouse gas emissions.

REIT fourth-quarter financial results

Residential, Commercial  • 

Minto Apartment REIT, (MI-UN-T), Canada Newswire
NorthWest Healthcare Properties REIT, (NWH-UN-T), Canada Newswire

Target to slash Minneapolis office space

Commercial  •  Star Tribune  •  CBS  •  KARE11

Target (TGT-N), the largest employer in downtown Minneapolis, is moving out of the 51-storey City Center skyscraper where it leases nearly one million square feet. Target plans to let workers combine remote and on-site work after the pandemic ends.

Colliers acquires Fla. engineering & design firm

Commercial  •  Globe Newswire

Colliers (CIGI-T) announced its Colliers Engineering & Design operating unit has acquired Bolton Perez & Associates, a Miami-based transportation engineering and design firm. The new addition will rebrand as Colliers E&D. Terms of the transaction were not disclosed.

CRE brokers turning to drones to overcome constraints

Commercial  •  Mortgage Professional America

DroneVideos.com said it has experienced a major boost in the CRE segment of its business from major brokerages such CBRE, JLL and Avison Young thanks to the COVID-19 lockdowns that restricted travel, site visits and in-person meetings in CRE sales.

Top 10 U.S. hotel/motel, retail projects

Commercial  •  Daily Commercial News

The accompanying tables show the top 10 major upcoming hotel/motel and retail/shopping centre construction projects in the U.S. They are all in the planning stage and are mainly new projects, but may also involve additions and/or alterations.

Priciest condo in the Okanagan hits the market

Residential  •  Global News  •  Business Wire  •  Western Investor

The most expensive condo in B.C.’s Okanagan region is for sale. The 4,500-square-foot penthouse at One Water Street is priced at $10 million, which is nearly three times the highest-valued condominium reported sold on MLS in the history of the Okanagan.

B.C. homes sales up 89 per cent YOY

Residential  •  Toronto Star  •  Straight.com

The British Columbia Real Estate Association says homes sales  moved at a “blistering pace” in February, up just over 89 per cent year-over-year. The association reports 10,918 sales of residential units, up more than 1,000 from the previous February record set in 2016.

Alberta pushes feds to change mortgage stress test

Residential  •  CBC

The province has been pushing the federal government to adjust its mortgage stress test for 18 months, arguing the current rules are an unnecessary barrier to home ownership for many Albertans. It was intended to decrease the risk of mortgage defaults.

Real estate viable career alternative for women

Residential  •  Financial Post

Rapidly escalating housing prices have grabbed much attention during the pandemic, but the real estate industry could be notable for another, less-publicized reason: it’s provided stable employment for 10s of thousands of Canadians during the past year.