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IN8 plans downtown Hamilton City Centre redevelopment
IN8 plans downtown Hamilton City Centre redevelopment
The unfulfilled potential of Hamilton City Centre could finally be realized if redevelopment plans by IN8 Developments come to fruition. IN8’s acquisition of the 3.54-acre site is expected to close in December. “Our vision here is a live, work, play situation in downtown Hamilton,” said IN8 president Darryl Firsten.
Lanterra launches No. 31 condos in downtown Toronto
Lanterra Developments has launched sales for its latest major downtown Toronto development, the 41-storey No. 31 condominium tower in the Distillery District. It will contain approximately 428 studio to three-bedroom suites from 350 to 1,079 square feet, with prices starting in the high $400,000s.
RBC, BCI, Quadreal collaboration raises $1.25B
• Canada Newswire • RENX • RENX
RBC Global Asset Management Inc. announced the first closing of the RBC Canadian Core Real Estate Fund, which attracted more than $1.25 billion in equity commitments from institutional and individual investors. It’s a $7.5 billion collaboration with BCI and QuadReal.
Summit acquires Vaughan industrial site for $25.5M
• Canada Newswire • RENX
Summit Industrial Income REIT (SMU-UN-T) announced it will acquire 100 per cent of a class-A light industrial property totaling 128,235 square feet in Vaughan. Summit will pay $25.5 million for the property, well below replacement cost.
Developers interested in Sidewalk Quayside project
• Globe and Mail (Sub. required) • Toronto Star • Toronto Star
Canadian developers welcomed Thursday’s decision by Waterfront Toronto to move ahead with a Sidewalk Labs proposal to build a high-tech community on the shores of Lake Ontario, and said they are keen to work with the Google sister company.
Toronto leads way in global mixed-use trend
A push to recreate complete communities, using mixed-use development, is opening the door for a new breed of architect, says Asaf Gottesman, a principle of the Paris-based architectural practice Gottesman-Szmelcman Architecture SARL.
Mid-century towers can have high-performance future
Mid-century residential towers — ubiquitous in many cities across Canada — have been “the backbone of our (public and private) affordable housing system” and can continue that path with the right approach to renewal, says Graeme Stewart, principal of Toronto-based ERA Architects.
Has the workplace pendulum swung too far?
As cubicle farms and enclosed offices dissolved into unassigned seating areas and shared workstations over the past decade, employers looked to usher in a new era of workplace collaboration – and unlock real estate cost savings.
Sparks Street merchants call on feds for help
Merchants on Sparks Street are calling on their landlord — the federal government — to do a better job filling empty storefronts on the north side of the downtown pedestrian mall between Bank and Elgin Streets.
Surface proposes 22-storey Ottawa high-rise
Ottawa-based Surface Developments has submitted plans to build a mixed-use high-rise in Westboro. The proposed tower would stretch 22 storeys high with a six-storey podium, 8,560 square feet of at-grade commercial space and a 260-space underground parking garage.
Vancouver moves to seize two Eastside hotels
• CBC • Globe and Mail
City of Vancouver staff have recommended council expropriate two dilapidated hotels on the Downtown Eastside and offer the owners $1 for each of the buildings, underscoring the dire condition of the properties and setting the stage for a possible court challenge.
Rebel Capital terminates qualifying transaction
Rebel Capital Inc. (RBL.P), a capital pool company, announced it will not be proceeding with its qualifying transaction of a Pittsburgh property containing a 91,790-square-foot data centre with a three-storey connected 43,800-square-foot office property on an approximately 7.65-acre site.
ISS, Glass Lewis recommend yes to Dream takeover
• Globe Newswire • RENX
Dream Global REIT (DRG-UN-T) announced independent proxy advisory firms, Institutional Shareholder Services, Inc. and Glass, Lewis & Co., LLC have both recommended unitholders of the REIT vote for the $6.2 billion takeover by U.S. real estate giant Blackstone (BX-N) on Nov. 12.
NorthWest enters hot Aussie mental health sector
• The Australian Financial Review
NorthWest Healthcare Properties REIT (NWH-UN-T) completed its first deal involving mental health properties, an Australia-Israel Chamber of Commerce healthcare panel heard Monday. Northwest has been exploring investments in Sydney into facilities that fill the gap in adolescent mental health treatment.
Catalyst says it has enough votes to block HBC buyout
• Globe and Mail (Sub. required) • Financial Post
Private equity fund Catalyst Capital Group Inc. claims to have gathered enough votes to block the planned $1.1-billion buyout of Hudson’s Bay Co. and is pushing HBC’s (HBC-T) board of directors to put the retailer up for sale.
Soho China considers selling eight towers for $8B
Soho China is considering selling a majority of its commercial property holdings in deals that may fetch as much as US$8 billion, according to sources. At least eight office towers in Beijing and Shanghai are being discussed.
Millennials underestimate cost of buying a home: Study
• Canada Newswire • Toronto Storeys
Nobul study findings suggest research is poorly lacking and that while many millennials have confidence in the process of buying or selling a home, they don’t fully understand all of the costs which could result in regret and disappointment.
GTA real estate agents hatching new strategies
• Globe and Mail (Sub. required)
The quirky nature of this fall’s Toronto-area real estate market has buyers, sellers and their agents inventing new strategies. Agents Simson Chu and Liam Docherty began brainstorming when they both found traffic a bit slow at the Corktown District Lofts.
Five B.C., one Ontario island for sale
If you’ve ever dreamt of owning an undeveloped island, where you can create your own paradise away from the rest of civilization, Colliers International might have an opportunity for you.
U.S. housing inventory tightens, competition heats up
The U.S. housing market showed signs of becoming increasingly competitive as inventory continued to tighten with a drop of nearly 98,000 listings, compared to this time last year, according to realtor.com‘s October 2019 housing trend report.
RENX in Review: Our top commercial real estate stories
Most Viewed: Continuum REIT issuing IPO for $1.5B multires portfolio
Editor’s Pick: Ronmor hires new CEO, looks to leverage large land bank
Toronto development: First Capital, CPPIB to develop Toronto Christie site
Industrial crisis: Vancouver space squeeze sparks push for stacked industrial
ICYMI last week: Toronto Don Valley hotel property sells for $102M
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