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Onni Group’s towering Gilmore Place nears Phase 1 finish line
Onni Group’s towering Gilmore Place nears Phase 1 finish line
Just over five years since construction began on Onni Group's towering Gilmore Place project, the developers are announcing commercial leases and anticipating the arrival of the first condo owners at the Burnaby master-planned site.
Brixen, National announce Brampton's Duo condos Phase 2
Tapping into an “undersupplied market” is a key reason Brixen Developments and National Homes partnered on a two-tower development in Brampton, just north of Toronto. The Duo condos will deliver approximately 670 condos to the city.
Hudson’s Bay buys Neiman Marcus Group in $2.65B US deal
The parent company of Hudson’s Bay is buying Neiman Marcus Group in a $2.65-billion US deal that includes an investment from e-commerce giant Amazon.com Inc. HBC L.P., which also owns Saks Fifth Avenue, announced the deal Thursday.
$7B Quebec battery plant plan stays despite 'strategic review'
Swedish EV battery manufacturer Northvolt says construction on its $7-billion plant on Montreal's South Shore will continue, even as the company undergoes a "strategic review" of its activities.
Vancouver office vacancies rise to 9.7%, construction dives
Metro Vancouver office vacancies are continuing to tick upwards as developers consider shifting their priorities mid-construction to hotels or residential. The region’s overall office vacancy rate rose to 9.7 per cent in the second quarter of 2024.
Luxury office buildings continue to gain popularity
High-end office space continues to be popular with corporate tenants. The gap between vacancy rates for these buildings and lower-end ones has widened further in several city centres across the country, according to a new report.
Falling office vacancy rate in Ottawa ‘clearly a trend’
Ottawa’s falling office vacancy rate is “not an anomaly,” a leading real estate broker says, noting the rate has declined for four consecutive quarters as landlords ratchet up their efforts to fill empty space.
Coquitlam Horizon 21 project finds buyer after price reduction
Following foreclosure proceedings that were initiated nearly two years ago and after spending nearly a full year on the market, a buyer has finally been found for the Horizon 21 project that was started by Centred Developments.
Long-vacant Edmonton lot set for 31-storey luxury high-rise
Development will move forward on a vacant lot in Edmonton that used to house a much-loved bakery and grocery store. Wild Earth Foods was demolished to make way for the 1932 by Bateman project, Strathcona's first mixed-use luxury condo high-rise.
RioCan CEO Gitlin on how to save downtown Toronto
Jonathan Gitlin went into real estate for the financial rewards, but along the way he developed a greater appreciation for the intangible ones. He's been president and CEO of RioCan, which leases about 32.6 million square feet, since 2021.
Calgary’s CRE market driven by multi-family demand
A new report shows Calgary’s commercial real estate sector is driven by demand for housing, resulting in unprecedented purpose-built rental development in the city. Driving that growth has been record migration to the city.
Key decisions loom for Calgary's $5.5B Green Line
Calgary city council will make significant decisions this month regarding the future of the next LRT line. Over the years, the city assembled a $5.5-billion budget for the 18-kilometre Green Line.
Vancouver Island to get $3 billion in power grid upgrades
Vancouver Island will get $3 billion worth of electrical infrastructure upgrades over the next 10 years, including new substations and upgrades to hydro-electric dams in Cambell River. Three hydro-electric dams – John Hart, Strathcona and Ladore – will get seismic upgrades.
CIB invests $283.5M in new Alberta transmission line
The Canada Infrastructure Bank is providing Alberta electricity transmission companies, AltaLink, L.P and ATCO Electric Ltd. with financing to construct a new transmission line in the counties of Red Deer, Lacombe and Stettler.
B.C. concrete strike avoided in last-minute deal
A tentative agreement has been reached between workers and one of the world’s largest suppliers of concrete. The agreement was reached ahead of their deadline to strike, which many worried would have major impacts on the construction and transportation sectors.
JDS surrenders Brooklyn supertall to Silverstein in $672M deal
Silverstein Properties and JDS Development have avoided a high-stakes foreclosure auction for control of 9 Dekalb, a 93-story skyscraper in downtown Brooklyn. Silverstein signed a $672M US deal to take over the retail, rental and unsold condo units.
Deutsche Bank seeks to buy part of $1.3B Corniche Loan
Deutsche Bank AG has approached several existing lenders to buy a stake in a $1.3 billion US project loan backing a luxury-property development in Hong Kong, according to people familiar with the matter.
Banc of California is selling $2B of residential loans
Banc of California Inc., a regional bank, is selling about $2 billion US of business-purpose mortgage loans in a process led by Morgan Stanley, according to people with knowledge of the matter.
Global CRE execs discuss surprises of 2024 — and what’s next
Halftime is over and commercial real estate is now back on the clock. As the industry enters the third quarter, it is grappling with an acute, ever-murkier question: Can it actually turn the corner in 2024?
Industry Events
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Quebec City Real Estate Forum
Oct 16 2024
Quebec City Convention Centre
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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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