Akelius selling 13-building portfolio of GTA apartments

RENX  Residential  •  Apartments  •  Toronto / GTA

Akelius Canada has put 13 apartment buildings (664 units) up for sale in the Greater Toronto Area. “Many of these assets are peripheral to their core portfolio and were acquired in conjunction with other properties,” said JLL Capital Markets’ Michael Betsalel.

Saint-Bruno-de-Montarville new promised ind. land

Commercial  •  La Presse  •  RENX

The South Shore city Saint-Bruno-de-Montarville is the new hot sector of industrial real estate in the Montreal area. Major transactions have been going on for six months. An American data centre and an AI manufacturing base are among the acquirers.

Laurence Vincent’s Table 45: Ode to a dad, developing

RENX  Commercial  •  Human Resources  •  Greater Montreal

For several years, Jacques Vincent, founder of Montreal developer Prével, and his daughter Laurence Vincent, who became Prével’s co-president last year, have met weekly for lunch. Now those lunches are the springboard for Laurence’s book, Building Montreal at Table 45.

Wittington proposes three-tower mixed-use complex

Residential, Commercial  •  Urban Toronto

Wittington Properties Limited (WN-T) is seeking rezoning in Toronto’s Yonge and St. Clair area to permit towers of 34, 39, and 59 storeys for condominiums rising above significant ground-level retail and pedestrian space. They would be designed by Diamond Schmitt Architects.

Candiac Station TOD Project unveiled

Residential, Commercial  •  Canada Newswire

The City of Candiac and the Montreal Metropolitan Community (MMC) have unveiled the Candiac Station TOD project — a major project aimed at creating a mixed-use living environment that promotes sustainable mobility.

More changes for Bloor & Dufferin plan

Residential, Commercial  •  Urban Toronto  •  RENX

Capital Developments and Metropia have a revised plan to redevelop a 7.3-acre Toronto District School Board property at Bloor and Dufferin. The latest iteration brings a 58,000-square-foot reduction in gross floor area and changes to the building heights.

Fronsac acquires three Eastern properties

Commercial  •  Globe Newswire  •  RENX

Fronsac REIT (FRO-UN-X) has acquired: a restaurant property in Sept Iles, Que., for $1,450,000; a property to be redeveloped with Odacite Immobilier Inc., in Shawinigan, Que., for $2.4 million; and a Sobeys service station in Yarmouth, N.S., for $1 million.

Bentall, REALPAC, UNEP assess ESG commitment

Commercial  •  Sustainable Biz Canada

The new Global ESG Real Estate Investment Survey Results report indicates progress is being made in carbon emission reductions by buildings and notes even greater positive changes possible within the sector.

Quebec flood forces 9,500 to evacuate

Residential  •  Montreal Gazette  •  CBC  •  CBC

The number of people affected by this year’s spring flooding across Quebec is now more than twice what it was during the devastating floods of 2017, due in large part to the 6,000 people evacuated from Ste-Marthe-sur-le-Lac on the weekend.

Calgary approved $300M transfer for projects

Commercial  •  Calgary Herald

Councillors approved a $300-million withdrawal from the City of Calgary’s rainy day fund to help pay for an expansion of the BMO Centre, a new arena, the first phase of Arts Commons and a multi-sport field house.

Vancouver studying Broadway subway effects

Residential, Commercial  •  Vancouver Sun

Vancouver city council and staff want to send a signal to the real estate development community, long before any shovels are in the ground for the planned Broadway subway: “Don’t be crazy.”

Beedie celebrates 65th anniversary

Residential, Commercial  •  REMI Network  •  RENX

Beedie, one of Western Canada’s largest industrial and residential developers, marks a massive milestone in 2019. It is now 65 years since Keith Beedie began his company based out of a small concrete building in Marpole, B.C.

Marriott to expand further into home-sharing

Residential, Commercial  •  Montreal Gazette

Marriott is pushing more heavily into home-sharing, confident its combination of luxury properties and loyalty points can lure travellers away from Airbnb-like rivals. The world’s biggest hotel company will take reservations for 2,000 homes in the U.S., Europe and Latin America.

Hotelier Christiane Germain doesn’t sweat Airbnb

Commercial  •  Globe and Mail (Subscription required)  •  RENX

“People are travelling more, and I think that will continue. So, to me, Airbnb is a different offer and it’s fine,” says Christiane Germain. “I don’t have a problem if you want to rent your space while you’re on vacation.”

Great Canadian Gaming sells Washington casinos for $56M

Commercial  •  Vancouver Sun

Great Canadian Gaming is getting out of the U.S. casino business. The Coquitlam-headquartered casino operator announced the sale Friday of its Great American Gaming operations in Everett, Tukwila and Lakewood to Maverick Casinos of Las Vegas for $56 million US.

Up to $10B of Chinese RE targeted by foreigners

Commercial  •  IPE Real Assets

Real estate transactions worth as much as $10 billion are under negotiation in China between domestic sellers and prospective buyers from the Middle East, Eastern Europe and Russia, according to Cushman & Wakefield.

Top 10 upcoming residential, transportation projects

Residential, Commercial  •  Construction Canada  •  Construction Canada

The accompanying tables show the top 10 largest upcoming high-rise residential and transportation construction projects in Canada. They are all in the planning stage and are mainly new projects, but may also involve additions and/or alterations.

Toronto’s new construction home sales rise

Residential  •  Toronto Star  •  Newinhomes.com  •  Globe Newswire

New figures released by Building and Land Development Association (BILD) show that builders are adapting to moderating housing prices in the Greater Toronto Area by producing a broader selection of new construction homes at lower price points.

West Vancouver condo assessment appeals quadrupled

Residential  •  North Shore News

Vancouver brings long-buried streams to light

Residential  •  CBC  •  RENX

You might be familiar with False Creek, but underneath the city of Vancouver are dozens of streams and creeks, buried long ago and diverted through a network of pipes.  Now, some of these streams are making a comeback.