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Bank of Canada’s high interest rates worsening inflation: Tal
Bank of Canada’s high interest rates worsening inflation: Tal
The Bank of Canada should have stopped its overnight interest rate increases at 4.5 per cent instead of five per cent in its effort to fight inflation, CIBC Capital Markets' Benjamin Tal says. And, the situation could get worse.
 | CRE Matters Canada's evolving office market: Navigating trends, challenges in 2023Darrell HurstDarrell Hurst, Senior Managing Director, Brokerage, Colliers |
Suburbs gain CRE strength as downtowns wane
In Western Canada cities it is the suburbs that are seeing a reduction in office vacancies, and it is more than lower prices and free parking that is driving the exodus from downtown.
Canfor to build manufacturing facility in Houston, B.C.
Vancouver-based Canfor (CFP-T) has announced plans to build a new $200-million manufacturing facility in Houston, B.C., about eight months after the forestry firm shut down its sawmill in the same community of about 3,000 residents.
Conversions reduce Calgary's downtown vacancy rate: AY
A $100-million effort to convert offices to residential space — encompassing 10 projects under the city’s Downtown Calgary Development Incentive Program (DCDIP) — has reduced the core’s vacancy rate from 29.3 to 27.3 per cent, said Avison Young’s Walsh Mannas.
Calgary's multiresidential developers get creative
Calgary's record prices and soaring demand for multiresidential are pushing developers to get creative to add more supply. Refurbishing buildings is the least expensive and fastest way to bring on more housing, says Bluevale Capital Group's Jefferson Huang.
Victoria approves Aryze's 13-storey mixed-use
Victoria council has approved Aryze Developments' application for a 13-storey, 91-unit mixed-use building at at 1702 Quadra St. and 862 Fisgard St., close to downtown. Four parking stalls are proposed, while existing zoning calls for at least 60.
Davpart proposes taller towers in Davisville Village
Davpart has increased the proposed height of two 45-storey towers to 48 and 53 storeys, respectively, at 1910 Yonge St. in Toronto's Davisville Village. The tweaked design by Graziani + Corazza Architects would provide 939 condo units.
JLL, Concordia partner on decarbonization framework
Real estate and investment management company JLL (JLL-N) and Concordia University have been awarded a $630,000 grant to establish a decarbonization framework for commercial buildings. The funding comes from the Natural Sciences and Engineering Research Council of Canada.
Of 275 downtown Edmonton parking lots, 30 have permits
A new report shows there are 275 surface parking lots in downtown Edmonton and only 30 – about 11 per cent – have legitimate permits. The report is set to be presented to city council’s urban planning committee on Sept. 19.
Home prices levelling off as sales slow: CREA
Average home prices rose 0.4 per cent in August while sales slowed and new listings returned to more normal levels, a sign that demand and supply are continuing to come into better balance, according to the Canadian Real Estate Association.
Feds won't fund housing unless Calgary axes zoning rules
In a social media post, Calgary Mayor Jyoti Gondek shared a letter from Minister of Housing, Infrastructure and Communities Sean Fraser saying if the city doesn't legalize new missing-middle zoning designations, its Housing Accelerator Fund application will not be approved.
Homebuilder has saved 100-plus buildings from wrecking ball
Tradition Home owner Mel Shakespeare has been repurposing old buildings for decades, long before adaptive reuse was a thing. Now the 82-year-old Cobourg, Ont., resident is writing a book that looks back on his 57-year career.
Canada can learn from greenbelt development in Britain
OPINION: Both Britain and Canada have established greenbelts around towns to restrict further sprawl on undeveloped land, but the greenbelt around Toronto has become sacrosanct, while that is not true across the pond.
Ivanhoé, Lendlease top out $545M Boston life science project
A joint venture between Ivanhoé Cambridge and Lendlease has topped off FORUM, a 350,000-square-foot life science development in Boston. The $545 million project is scheduled for completion in 2024. The project is slated to achieve LEED Platinum certification.
Menlo, Beacon break ground on 240K-sq.-ft. life science bldg.
Menlo Equities and Beacon Capital Partners announced the ground-breaking of Portal 405, a 240,000-square-foot life science building in San Carlos, Calif. Portal 405 will be a six-storey building located within walking distance of the San Carlos Caltrain Station.
Carr Properties JV delivers million-square-foot trophy tower
One Congress, Boston’s newest trophy tower and the market’s largest office project delivered this year, has opened with its one million square feet of class-A space fully preleased. The 43-storey tower is developed through a Carr Properties joint venture.
Blackstone taps new credit boss in bid for $1T goal
Blackstone, which set a goal to grow total credit assets to $1 trillion within a decade, is consolidating groups that invest in corporate credit and asset-based finance as well as a business that manages money for insurers.
Amazon plans to double number of same-day fulfillment centres
CEO Andy Jassy announced plans on Amazon's most recent earnings call to double the number of same-day fulfillment centres the company operates. A new CoStar analysis identified 51 of them across the U.S. totaling just over eight million square feet.
Chicago leads in certain CRE loan distress: KBRA
Chicago's commercial real estate sector loans, within certain securities, had the highest distress or delinquency rate in August among the top 20 U.S. metro cities, a new research report from ratings agency KBRA said.
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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