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Consortium QMD-Menard building Solstice Montreal
Consortium QMD-Menard building Solstice Montreal
Solstice Montreal, the latest condominium tower to be built near the Bell Centre in downtown Montreal, will stand in contrast against the “towerization” seen in other condo developments in the core, its development manager says.
Toronto’s East Harbour project like ‘Canary Wharf’
UPDATED: Cadillac Fairview is acquiring what’s planned as the largest commercial development in Canada, the 38-acre Toronto East Harbour project, from First Gulf. “This will be the largest commercial development ever undertaken in Canada,” CEO John Sullivan said.
Smartcentres, Greenwin JV on apartments in Barrie
SmartCentres REIT (SRU.UN-T) and Greenwin Inc. have entered into a 50/50 joint venture to develop a 7.8-acre lakefront property in Barrie, about an hour north of Toronto. The project is contemplated to be a multiphase rental apartment community.
First buildings at Centreport opened this week
Edmonton developer Canada West Limited is doing its best to substantiate the hype surrounding the 11-year old Centreport Canada inland port. The first of eight multi-tenant industrial buildings in the Brookside Industrial Park opened this week.
Grammarly opening a Vancouver office
American tech firm Grammarly Inc. is looking to put its prints on Vancouver. The company, best known for developing a writing app that helps improve digital messages, announced Thursday the city will be home to its fourth global office.
School developer CIBT gives lesson in RE investing
Vancouver-based CIBT Education Group Inc. (MBA-T), the owner of Sprott Shaw College, is currently developing the latest in a series of mixed-use properties that harness demand from international students for residential real estate.
Libraries are a critical piece of infrastructure
• Globe and Mail (Sub. required)
Last year, Calgary got a new central library, a place that brings people together, with programming for kids and teens, film screenings and talks, and advice on everything from how to build your career to how to live with depression.
Top 10 educational, medical construction projects
The top 10 major upcoming educational and medical construction projects in Canada are all in the planning stage and comprised mainly of new projects. The largest projects can dramatically affect total construction dollar volumes in market forecasts.
Hudson’s Bay posts deeper loss
• Globe and Mail • Toronto Star • Globe and Mail (Sub. required)
Hudson’s Bay Co. (HBC-T) has reported steeper losses as it continues to close stores and sell off discounted merchandise, in an effort to modernize the offerings of its Bay department store chain and to combat falling sales.
Empire Q1 results up 34 per cent YOY
• Halifax ChronicleHerald • Canada Newswire
Empire Co. Ltd. (EMP-A-T), headquartered in Stellarton, N.S., and parent company of Sobeys, reported adjusted net earnings of $133.9 million (49 cents per share) in Q1 2020 compared to $100.2 million (37 cents per share), a year-over-year increase of 34 per cent.
Courts halt cannabis retail licensing process
An Ontario judge has frozen the province’s cannabis retail licensing process for at least two weeks. Twelve of the original 42 winners of the Aug. 20 lottery draw were disqualified for failing to submit all the required application materials on time.
U.S. retail sales increase a boost to economy
• Reuters • Toronto Star • RENX
U.S. retail sales increased more than expected in August, pointing to solid consumer spending that should continue to support a moderate pace of economic growth. The report from the Commerce Department could further allay financial market concerns of a recession.
Family business a big chunk of Canada’s economy
Family-owned businesses are the real “backbone of the economy” directly responsible for about $574.6 billion in goods and services produced in 2017. That’s more than 35 per cent of Canada’s real GDP, but that foundation is cracking says a new report.
Investing legend throws lifeline to SNC-Lavalin
SNC-Lavalin Group Inc. (SNC-T), the embattled Canadian engineering firm that has seen its stock spiral this year, just got some good news: Jarislowsky Fraser Ltd. purchased shares in the company, taking its stake to 11 per cent.
WeWork curbs CEO’s voting power in bid to boost IPO
• Reuters • Toronto Star • Toronto Star
WeWork owner The We Company said on Friday it has curbed the voting power of founder and CEO Adam Neumann, part of changes to its corporate governance aimed at reviving demand for its planned initial public offering.
U.S. caps Fannie, Freddie lending for multifamily properties
Federal regulator of Fannie Mae and Freddie Mac moved to cap the total amount of loans for multifamily rental properties that the mortgage-finance companies are allowed to purchase each year, the first of several changes planned by the Trump administration.
Condo buyers in CRA crosshairs over purchase incentives
Condominium buyers who took advantage of a popular purchase incentive in recent years are finding themselves in the crosshairs of the Canada Revenue Agency. The rental guarantee incentive drawing the tax authority’s interest is commonly known as a leaseback arrangement.
Trudeau vows to impose national tax on foreign home buyers
Justin Trudeau says a re-elected Liberal government would impose a national one per cent tax on properties owned by non-Canadians and non-residents in an effort to curb foreign speculation in real estate a key contributor to a surge in home prices.
Feds’ rental housing program proves a deal-maker
front-line negotiator says the federal government’s 11-year, $13.75-billion Rental Construction Financing Initiative (RCFI) will soon bear fruit big time in Toronto as developers start to close more deals with the program’s administrator, Canada Mortgage and Housing Corporation (CMHC).
OACIQ responds to collusion allegations
Following a report about possible allegations of collusion between building inspectors and real estate brokers, the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) reiterates any form of conflict of interest is not tolerated under the Real Estate Brokerage Act.
RENX in Review: Our Top Stories This Week
Most Viewed: ‘We’re going to skirt recession’: BMO’s Gregory
Editor’s Pick: Big challenges in booming multifamily sector: CAIC panel
Cashing out, at a profit: Summit sells interests in two GTA, Montreal data centres
Opinion: Ottawa housing market ripe for ‘Starchitectural’ design
ICYMI last week: Artis REIT sells two Ontario office buildings for $161M
Industry Events
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Oct 22 2024
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Oct 29 2024
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Palais des Festivals, Cannes, France
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