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Cape Group shifts Vancouver dev. to mixed-use, multires tower
Cape Group shifts E. Vancouver dev. to mixed-use highrise
Excavation was already underway at Cape Group’s rental housing project at 320 East 2nd Ave. in East Vancouver when the team decided in 2021 to halt the process and apply to substantially increase the size and scope of the building.
RE insolvencies set to surpass levels of global financial crisis
Residential property developers are facing rising insolvencies as they battle higher borrowing and construction costs. Industry experts warn the trend will likely worsen. The number of insolvent companies is now on track to surpass levels of the global financial crisis.
RioCan in no rush to launch new projects, CEO says
It will take more than a rate cut for RioCan to launch major new real estate projects, company president and CEO Jonathan Gitlin said. The hesitation to build comes as the condo market has slowed significantly.
Edmonton investors snatch up 12 local buildings
Over the past 18 months, 12 office buildings were bought by private investors, dropping a combined $135 million into the Edmonton market. Commercial real estate has ramped up and local investors have been jumping in where national investors won’t.
Winnipeg breaks ground on CentrePort South development
The shovel plot was a small mound of dirt. It stood, however, for the beginning of an 1,800-acre development in northwest Winnipeg. The vision includes 500 acres of residential and 1,100 acres of industrial space.
Historic Winnipeg building reborn as office and res space
The James Avenue Pumping Station was ready to be wrecked. A 1906 yellow-brick pile along Winnipeg’s Red River, half-filled with ancient machinery, the building had outwitted more than a dozen developers whose plans to remake it had failed.
Perimeter aviation hub expansion nears completion
Northern Manitoba air travel is going to get more comfortable with the opening of a sizable expansion to Perimeter Aviation’s terminal, tripling the size of the facility. The $21.5-million, 20,000-square-foot expansion is scheduled to open this month.
Highrise community proposed at 401 and Brock in Pickering
Development activity has been picking up steam in the eastern Greater Toronto Area. The Pickering Design Centre, a masterplanned, mixed-use community positioned adjacent to the Brock Road interchange on Highway 401 has now been proposed by Bayfield Realty Advisors.
Sewage capacity could delay construction of London towers
A proposed residential development, from City Plaza London, that could bring more than 1,000 residential units and much-needed vibrancy to a bleak section of York Street will have to wait until a section of the city's sewer system is upgraded.
21-storey rental housing tower proposed for Kitsilano
Two aging multifamily residential buildings in Vancouver’s Kitsilano neighbourhood could be redeveloped into a 212-ft-tall, 21-storey, mixed-use rental housing tower. Millennium Development Corporation has submitted a new rezoning application for the redevelopment of 2158-2170 West 1st Avenue.
Toronto condo investors caught in a ‘Catch-22'
About 77 per cent of investors who closed on a Toronto condo with a mortgage last year are losing money, up from 52 per cent in 2022. The strain is shaping up to be a major challenge for Canada’s market.
Cornerstone to be Ontario's second-largest real estate board
A merger of four real estate boards in Ontario named the Cornerstone Association of Realtors aims to open up the industry’s data sharing and offer more services and higher standards.
The rise of the store-within-a-store, a retail innovation
OPINION - Popular opinion and retail consultants have been predicting the decline of physical stores for decades. Yet, Statistics Canada’s latest annual retail survey reports that 89 per cent of retail sales still occur in a physical store.
Scotiabank to buy stake in U.S. lender KeyCorp for $3.8B
Scotiabank (BNS-T) has signed a deal to buy a minority stake in U.S. bank KeyCorp (KEY-N) for C$3.8 billion. KeyCorp operates in 15 states, with about 1,000 branches offering commercial and retail banking and investment advice and services.
Artis REIT completes sale of nine U.S. industrial properties
Artis REIT (AX-UN-T) announced it has closed on the previously disclosed sale of a portfolio of nine industrial properties in the Greater Phoenix Area in Arizona and the Twin Cities Area of Minnesota.
After $5.2B investment in 2021, Walgreens considers full sale of VillageMD
Drugstore giant Walgreens is contemplating a full sale of its stake in VillageMD, according to the company’s most recent 8-K. Walgreens initially planned to operate 600 Village Medical clinics at its primary care practices next year.
Chicago’s gigantic Merchandise Mart is still thriving as office space
Merchandise Mart stands where both branches of the Chicago River meet, a centre of commerce for nearly a century. The Art Deco structure remains the largest privately held commercial structure in the U.S., with around 4.2 million gross square feet.
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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