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Sevoy preps first major high-rise: 40-storey Pickering condo
Sevoy preps first major high-rise: 40-storey Pickering condo
Sevoy Developments' president Dov Seidenfeld is poised to launch the firm's first high-rise, 1515 Pickering Parkway, in its namesake Greater Toronto Area (GTA) city of Pickering less than two years after the company's founding.
Broccolini to develop 1.3M-sq.-ft. Ontario dist. centre for DSV
Broccolini will build a 1.3-million-square-foot-plus warehouse in Innisfil, just north of Toronto, that will serve as Denmark-based DSV – Global Transport and Logistics’ second massive facility in the province. It will be located adjacent to Highway 400.
Caivan brings AI, hi-tech innovation to manufactured housing
Frank Cairo speaks about Canada’s housing shortage with the passion of a man on a mission. That’s because his Ottawa company Caivan Homes is on a mission . . . to promote technology and factory-based mass production to vastly increase housing supply.
ANALYSIS: In Vancouver, it’s all about the price of dirt
Although land inflation is a global urban phenomenon, Metro Vancouver residents suffer from the worst from it. The cost of dirt in Vancouver, for instance, hyper-escalated by 500 per cent between 2008 and 2016.
Toronto office woes pale in comparison to some U.S. cities
The office real estate scene in Toronto might seem dire, but it could be much worse. South of the border, mainly in the Midwest, cities are experiencing an urban ‘doom loop,’ a self-feeding cycle caused by a widespread CRE exodus.
Foreclosure proceeding against Merritt apartment building
B.C. Housing has started foreclosure proceedings against a 75-unit apartment building in Merritt after developer Olympic Villas failed to repay a 2019 construction loan on time. The developer said B.C. Housing hiked the interest rate to 7.2% from 1.5%.
U of T home to Canada's largest Passive House building
The Harmony Commons Student Residence developed by Fengate Asset Management for the University of Toronto Scarborough campus has been certified as Canada’s largest Passive House Classic structure. The nine-storey building provides accommodations for 746 students.
UBCO excavation settlement could be over $1M: Lawyer
The lawyer representing a class-action lawsuit filed against the City of Kelowna, UBC Properties Investments and other entities including engineers, builders and architects believes her clients could be in line to share over a $1-million settlement.
Oak View breaks ground on FirstOntario Centre renovation
Oak View Group (OVG), along with Live Nation Canada and the Hamilton Urban Precinct Entertainment Group (HUPEG), Thursday broke ground on the $280-million renovation of FirstOntario Centre.
Winnipeg hotel owner plans 12-storey residential building
Ken Zaifman, the owner of the vacant St. Charles Hotel in downtown WInnipeg, says his plan to convert it to affordable housing has changed, and he will instead build a 12-storey, 120-unit building on the adjacent parking lot.
TVM Group's East City Condo opens in Peterborough
TVM Group has unveiled the nine-storey, $50 million East City Condo building at 195 Hunter St. E. in Peterborough. The jewel of TVM's six-building complex comprises a rooftop penthouse, 93 luxury residential suites and one commercial space.
Saskatchewan construction sector beats national levels
Monday, Statistics Canada released Saskatchewan's building permit figures, which show a 15.8 per cent increase year-over-year growth for March 2024, compared to March 2023 (seasonally adjusted). This places Saskatchewan above the national average, a decrease of 15.2 per cent.
Alberta invests $50M for Industrial Heartland water intakes
At a news conference on Thursday, Alberta Environment and Protected Areas Minister Rebecca Schulz said the province will be kicking in more than $50 million over the next five years to support the Alberta Industrial Heartland’s designated industrial zone.
‘Save-On-Foods is going to be the big ship:’: Pattison Food
Pattison Food Group is betting on its flagship banner Save-On-Foods, says COO Jamie Nelson. The food retailer has recently transitioned several Buy-Low Foods stores in B.C., Alberta and Saskatchewan, and an Urban Fare location in Calgary to the banner.
Walmart tops US$500 billion in market value
Walmart (WMT-N) shares surged on Thursday, pushing the retailer’s market value over US$500 billion for the first time, after it posted stronger-than-expected first-quarter earnings and boosted its annual sales and profit forecasts.
Real estate podcasts
Jason Castellan, Skyline Group: From basement to big business, CRE Podcast
Rob Kumer, KingSett Capital: Trends and success strategies in CRE, Tenant Experience Network
Mark Rothschild, Canaccord Genuity: Behind the scenes of REIT valuation, CRE Podcast
BIRET to buy 50% stake in four Bharti Enterprises assets
Brookfield India Real Estate Trust (BIRET) has signed a binding agreement to acquire a 50% stake in four Bharti Enterprises commercial properties for $719 million Cdn. The properties comprise a total of 3.3 million square feet.
Sternlicht's $10B SREIT facing liquidity crunch
Starwood Capital Group’s $10-billion nontraded Starwood Real Estate Income Trust (SREIT) has nearly exhausted its roughly $1.6B line of credit as it seeks to pay investors looking to cash out their shares.
Iconic Mirage hotel-casino to shutter
The iconic Mirage hotel-casino on the Las Vegas Strip will shut its doors this summer, the end of an era for a property credited with helping transform Sin City into an ultra-luxury resort destination.
Odd Burger signs agreement for 40 Florida locations
London, Ont.-based Odd Burger Corporation (ODD-X) has signed its second agreement for the development of 40 locations in Florida over the next eight years. The agreement was signed with StarMatt Corporation, a Florida-based real estate and franchise development company.
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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