Aspen Ridge unveils 60-acre Toronto Crosstown plan

RENX  Residential, Commercial  •  Condominiums, Office, Apartments, Retail  •  Toronto / GTA

It took a decade to acquire the land, but developers of a proposed Crosstown mixed-use project on a 60-acre Toronto site aren’t wasting time moving forward. Aspen Ridge Homes has released an updated proposal for the expansive, master-planned community.

Parq Vancouver misses debt payment

Commercial  •  Bloomberg

Luxury casino Parq Vancouver’s parent company missed an interest payment on a second-lien loan as it struggles to refinance debt taken on to build one of the largest-ever private developments in British Columbia.

PROREIT graduates to TSX on May 7

RENX  Commercial  •  Investment  •  National

The final step in PRO Real Estate Investment Trust’s nearly year-long transformation will take place Tuesday, May 7 when the trust begins trading its shares on the Toronto Stock Exchange. To celebrate, PROREIT management will open the market that morning.

Killam to buy 50% interest in Charlottetown Mall

Residential, Commercial  •  CBC  •  RENX

Killam Apartment REIT (KMP-UN-T), which owns and operates several P.E.I. properties, has agreed to buy 50% interest in the Charlottetown Mall from RioCan REIT (REI-UN-T) for $23.7 million. Killam plans to develop up to 300 residential units on the property.

Canada’s housing markets not as vulnerable: CMHC

Residential  •  CBC  •  Global News  •  Canada Newswire

For the first time in 2.5 years, Canada Mortgage and Housing Corporation has rated the housing market as only moderately vulnerable, indicating the hot conditions characterized by bidding wars and sky-high prices may be cooling off a little.

Ontario’s new rules favour large developers: Critics

Residential  •  Globe and Mail  •  CBC  •  Urban Toronto

Ontario’s PC government says it will ease the housing crunch with a sweeping package of measures aimed at getting more houses built more quickly, but critics say the move to increase the powers of the land-use tribunal favours large developers.

Trinity files fresh plans for Ottawa residential towers

Residential, Commercial  •  Ottawa Business Journal  •  RENX

An Ottawa developer has revived a plan to build two mixed-use high-rises. In planning documents filed with the city, Trinity Development Group says it is proposing to construct a pair of 25-storey condo towers with ground-floor retail space.

Residential tower grows out of Maclean-Hunter buildings

Residential, Commercial  •  Globe and Mail  •  RENX

For half a century, a city block at the intersection of University Avenue and Dundas Street West was the heart of a publishing empire. It’s about to become one of the most central residential and office addresses in Toronto.

Calgary to shorten process for pop-up businesses

Commercial  •  Global News

A Calgary planning and urban development committee is recommending a way to make it easier for so-called “pop-up” and interim businesses to get off the ground. The hope is to stimulate economic activity and reduce vacancy rates.

Plaza Retail sells eight properties for $9.9M

Commercial  •  Canada Newswire  •  RENX

Plaza Retail REIT (PLZ-UN-T) announced it has successfully completed the sale of eight single-tenant properties in four separate transactions for total consideration of $9,900,000.  The fully leased properties total 19,309 square feet and are located in Winnipeg, London, Ottawa and Halifax.

Summit, Dream Industrial two REITS to jump on

Commercial  •  Globe and Mail (Subscription required)  •  RENX  •  RENX

Summit Industrial Income REIT (SMU-UN-T) has gained over 23 per cent so far this year. Overall, REITs specializing in industrial properties are doing very well these days. Dream Industrial REIT (DIR-UN-T) is up almost 22 per cent so far in 2019.

REIT first-quarter financial results

Commercial  • 

City Office REIT, (CIO-N), PR Newswire

Melcor REIT, (MR-UN-T), Globe Newswire

WeWork’s European expansion faces growing competition

Commercial  •  Bloomberg  •  The Real Deal  •  RENX

WeWork‘s breakneck expansion into new markets is only likely to increase now that it plans to go public. Yet the nine-year-old company faces stiff competition in Europe from established work-space providers like IWG Plc and local startups.

London: Too big to fail?

Commercial  •  IPE Real Assets

Ever since the run-up to the referendum on EU membership, the U.K. economy – and, by extension, and the domestic real estate market – has been under the shadow of uncertainty. London’s real estate market is one of the globe’s deepest.

Global housing: Going up, and up

Residential  •  IPE Real Assets

According to the International Monetary Fund (IMF), real house prices increased in most countries in the past year and, since bottoming out in 2011, global house markets have climbed steadily.

Montreal home sales rise for 50th straight month

Residential  •  Montreal Gazette  •  Canada Newswire

Montreal’s real estate market remained on fire in April with residential home sales increasing 11 per cent from a year ago. The Quebec Professional Association of Real Estate Brokers says sales in metropolitan Montreal marked the 50th consecutive monthly increase, rising to 5,973 units.

Vancouver home sales sink 29.1% year-over-year

Residential  •  Global News  •  CTV  •  Globe and Mail (Sub. required)

Metro Vancouver’s home sales dipped in April to more than 43 per cent below the 10-year sales average. According to the Real Estate Board of Greater Vancouver, there were 1,829 residential sales in April, down 29.1 per cent from April 2018.

West Vancouver targets middle-income earners

Residential  •  Globe and Mail  •  Business In Vancouver

One of Canada’s wealthiest cities plans to develop housing geared to moderate-income residents such as teachers and first responders, an effort to respond to the sky-high cost of housing in the community the workers serve.

Toronto’s Integral House is for sale again

Residential  •  Toronto Life

In some ways it’s the ultimate Rosedale home: a 17,000-square-foot residence with wraparound ravine views and a living room big enough to accommodate up to 200 guests a time. But Integral House, located on Roxborough Drive, is not for everyone.

Flood zone realtors ‘anticipating a big slowdown’

Residential  •  Ottawa Citizen

Houses that incorporate up-to-date flood proof features do a pretty good job of retaining their value, real estate agents agree, despite the national capital region’s history of floods. However, that doesn’t make them easy to sell.