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Good news for Calgary's retail CRE: Demand outstrips supply
Good news for Calgary's retail CRE: Demand outstrips supply
Elevated interest rates and rising construction costs are among the factors creating a challenging retail development sector in Calgary, but optimism reigns because there simply isn’t enough space to satisfy demand.
The One condos still on sale despite receivership
Multimillion-dollar homes at the 85-storey The One are still on sale — and some potential buyers are interested, according to one broker — despite the unfinished luxury condo project entering receivership last week with $1.6 billion in debt.
The time for prefabricated housing is now: Great Gulf
Great Gulf Group of Companies, a Toronto-based commercial and residential property builder, developer and manager, is a leader among its peers for its early adoption of prefabrication through its H+ME Technology business.
People first-approach key for office sector: NAIOP
With stubbornly high office vacancies that average 11.8 per cent in downtown Vancouver, people need to be at the centre of landlord efforts to lease up space, panellists told commercial real estate association NAIOP in Vancouver on Oct. 26.
Morguard executive remains confident in retail sector
While the weakening of the Canadian economy is growing more apparent each week, the national retail environment isn’t going to cause many sleepless nights for David Wyatt, the senior vice-president of retail at Morguard.
Lanesborough sells Fort McMurray property for $22M
Lanesborough REIT (LRT-UN-X) announced it has entered into an asset purchase agreement in connection with the sale of Nelson Ridge Estates, at 101 Loutit Rd., in Fort McMurray, Alta., to 7254751 Manitoba Ltd. for aggregate $22 million.
GUEST SUBMISSION: Sustainability in an age of digitization
Redbrick chief marketing officer Marco Pimentel identifies some top-down strategies business leaders should consider when creating a sustainability plan. Innovative office technologies, employee incentives and partnerships are examples.
UTILE, Fonds open Quebec City student housing building
Unité de travail pour l'implantation de logement étudiant (UTILE) and the Fonds immobilier de solidarité FTQ have opened Quebec City's Ardoise, UTILE's first non-profit student housing building in Québec. The Ardoise is housing 243 university students in 205 affordable apartments.
Collecdev JV's 43-storey mixed-use planned in Liberty Village
Collecdev and Shiplake Management Company are planning a 43-storey mixed-use tower at 80 Lynn Williams St. in Toronto's evolving Liberty Village neighbourhood. The gh3*-designed tower will include 588 market-rate rental units and 8,611 square feet of retail space.
ACQ asks for law to speed up housing construction
The Quebec Construction Association is asking the province to force cities to set quantified targets for housing to be built and to speed up the issuance of permits. Construction starts in Quebec are at their lowest despite the housing shortage.
StateView sold hundreds of homes without approvals
Developer StateView Homes collected tens of millions of dollars in deposits for more than 450 homes it did not have authorization to sell due to not receiving approval from Tarion — Ontario’s new-home buyer protection organization.
Burnaby apt. building owner loses $6M tax appeal
The numbered-company owner of a four-storey Burnaby apartment building at 5978 Wilson Ave. has lost a bid to quash a $6-million foreign buyer’s tax bill assessed by the Ministry of Finance.
West Van. developer ordered to pay $1.8M for civil fraud
West Vancouver developer Phil Garrow has been ordered to pay a former business partner more than $1.8 million after a B.C. Supreme Court judge found numerous instances of civil fraud underpinning their collapsed plans to build B.C. homes.
Top-10 largest construction starts
The accompanying table records the 10 largest construction project starts in Canada in September 2023. Also included is the latest trend graph on starts. This looks at 12-month moving totals of civil and non-residential building categories.
Real estate podcasts
Rael L. Diamond, Choice REIT: Low leverage, big returns, CRE Library
Simon Plante, Columbus Café: The right time to expand to Ontario, Down to Business
Robert Beaudry, Ville-Marie councillor: How big of an issue are vacant buildings? Daybreak Montreal
Shopify signs 36K-sq.-ft. lease in Manhattan office building
Ottawa-based Shopify Inc. has leased nearly 36,000 square feet of office space at Related Cos. and Vornado Realty Trust's 11-storey building at 85 10th Ave., in Manhattan. Shopify's rent is higher than $100 per square foot, sources say.
ApartmentLove terminates two proposed acquisitions
ApartmentLove Inc. (APLV-CN) will not to proceed with the proposed acquisition of certain assets of Florida-based internet marketing company Traffic2Revenue; and the proposed acquisition of the assets of a luxury Internet listing real estate site because of due diligence concerns.
JLL secures $869M to refinance U.S. industrial portfolio
JLL's Capital Markets group announced today it arranged a total of $869 million US in financing for a 25-property bulk industrial portfolio totalling 11.4 million square feet in 13 major industrial markets across the U.S.
88.9% of maturing office CMBS loans defaulted in September
Some 88.9% of CMBS loans associated with office properties defaulted at their maturity in September, while 11.1% were paid off during the month and none were extended or modified, according to Moody's Analytics.
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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