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Tercot JV gets OK for 45-storey Hamilton waterfront condo
Tercot JV gets OK for 45-storey Hamilton waterfront condo
It’s taken years of extensive community engagement and collaboration with the City of Hamilton, but Waterfront Shores Corporation has finally received approval to build a 45-storey waterfront condo tower at Block 16 in Hamilton's Pier 8 community.
Canada faces challenges meeting student housing demand
A lack of purpose-built student accommodations (PBSA) is contributing to Canada’s housing shortage, and there’s not a lot of near-term optimism for the prospects of future students.
St. Clair College, developer JV on 400 housing units
A plan to house 400 students in a new residence called Global Village Windsor is a step closer to reality after St. Clair College signed a memorandum of understanding with Orange Village, Ohio-based real estate company Fairmount Properties.
Cities call for $600B in infra funding to build homes
The Federation of Canadian Municipalities says municipalities would need $600 billion in infrastructure funding to help support construction of 5.8 million homes by 2030 as deemed necessary by the Canadian Mortgage and Housing Corp. to restore affordability.
The Daly, The Glade: Red Mountain hopes to strike gold again
Red Mountain Resort, one of North America’s oldest ski resorts, will soon be home to two new residential communities for families interested in all-seasons recreation in the Monashee Mountains range.
Higher debt costs hindering development: Wpg. panel
A higher cost of debt has hindered development in Manitoba despite demand in several real estate markets, a panel of experts relayed at the Building Owners and Managers Association of Manitoba state of the industry luncheon on Wednesday.
Perpetual construction hurting downtown Mtl.: Chamber
Orange cones may have gotten smaller, but Montreal’s downtown core remains a dysfunctional mess that many area workers and motorists would rather avoid, a report released Friday by the Chamber of Commerce of Metropolitan Montreal concluded.
Mastermind Toys files for creditor protection
Canadian toy retailer Mastermind Toys has been granted protection from its creditors as it plans to close stores and to explore “strategic alternatives” to keep the business afloat. Toronto-based Mastermind LP operates 66 stores across Canada.
Price reduced for downtown Toronto retail building
A four-level commercial building at 202 Queen Street West in downtown Toronto is for sale. The building, housing Ontario’s first legal cannabis store and appraised at $6.6 million, is listed at $5 million.
Parkit acquires Winnipeg industrial asset for $6.5M
Parkit Enterprise Inc. (PKT-X) has agreed to acquire an 82,400-square-foot industrial building in Winnipeg for $6.5 million. The partially tenanted building is located on approximately 4.6 acres of land close to Winnipeg Richardson International Airport.
N.S. to build space for 270 community college beds
The province says it will construct space for a total of 270 beds at the Nova Scotia Community College campuses in Springhill, Kentville, Bridgewater and at the Institute of Technology campus in north-end Halifax.
Real estate podcasts
Michael Emory, Allied Properties REIT: Navigating the office market, CRE Library
Heather Tremain, Options for Homes: Unlocking attainable housing, People Who Perform
Craig Patterson: The decline of downtown retail, The Weekly
Calgary approves 7.8% tax hike in 2024
Average Calgary homeowners can expect a $16 monthly increase on their property tax bill next year. Bringing the tax increase up to 7.8 per cent is a one per cent increase in the residential property tax share.
Vancouver homeowners face 7.6% property tax increase
A 2024 draft budget made public by the City of Vancouver says property taxes will increase 7.6 per cent next year. The $2.15-billion operating budget will be presented at a council meeting Dec. 5.
Desjardins analyst bullish on Primaris REIT
Desjardins Securities analyst Lorne Kalmar sees Primaris REIT (PMZ-UN-T) as a “compelling way to play the recovery in Canada’s mall sector.” Kalmar maintained a “buy” recommendation and $16.50 target for Primaris units. The average is $16.84.
Virginia office tower heads to foreclosure auction
Monday Properties' 35-storey tower at 1812 North Moore St. in Rosslyn, Va., has moved to foreclose and is scheduled for public auction on Dec. 18. Lender RBC Real Estate Capital Corp., hired Eastdil Secured to facilitate the auction.
Norway’s pension giant bulks up Boston CRE holdings
Norges Bank Investment Management, which manages Norway’s $1.4 trillion pension fund, has added to its Boston-area holdings with the acquisition of a 45% stake in two life sciences properties in Cambridge in a JV with Boston Properties Investment Management.
Chinese tolerance for property pain nears limit
China is ramping up pressure on banks to support struggling developers, signalling President Xi Jinping’s tolerance for property sector pain is nearing its limit. Developer stocks and bonds rallied on bets authorities may introduce sweeping new measures.
Bank of Japan presses pause on J-REITs
The Bank of Japan is on track for zero purchases of J-REITs this year and its smallest annual haul of exchange-traded funds since 2010 as it continues to stealthily tiptoe in the direction of more conventional policy.
Industry Events
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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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