Groupe Humaco set to build $315M Cocité Lévis

RENX  Residential, Commercial  •  Condominiums, Hotels and Resorts, Office, Apartments, Retail  •  Quebec City

A $315-million mixed-use neighbourhood is set to rise next to a bridge leading into Quebec City. Groupe Humaco will begin construction in spring 2020 at Cocité Lévis, next to the Pierre Laporte Bridge across the river from the provincial capital.

Cineplex to be acquired by U.K.’s Cineworld for $2.8B

Commercial  •  Globe and Mail  •  Financial Post  •  Toronto Star

Cineplex (CGX-T), Canada’s largest cinema chain, has reached an agreement to be acquired by U.K.-based movie theatre owner Cineworld Group plc. in a deal worth $2.8 billion in cash and assumption of net debt.

Myers Automotive plans new dealership, office tower

Commercial  •  Ottawa Business Journal

Myers Automotive Group is gearing up to become a player in the field of commercial development with plans for an office building and a potential hotel in Ottawa. Myers is hoping got a targeted opening date for both buildings in  2021.

Ottawa approves Dymon’s six-storey warehouse

Commercial  •  Ottawa Business Journal  •  Ottawa Citizen

The City of Ottawa’s planning committee has narrowly approved DYMON Storage‘s controversial plan for a six-storey self-storage warehouse. It marks the Ottawa-based company’s 12th location in the region.

Chartwell acquires Alta. retirement residence for $120M

Residential  •  Canada Newswire  •  RENX

Chartwell Retirement Residences (CSH-UN-T) has completed the acquisition of the 256-suite Chartwell Emerald Hills Retirement Residence in Sherwood Park, Alta. The purchase price was $120.0 million.

Edmonton approves one high-rise, rejects another

Residential  •  Edmonton Journal

Edmonton city council has weighed in on a pair of high-rise projects Averton Homes proposed for the Oliver area west of downtown, unanimously giving support to one development while rejecting the other.

Value: Weighed and Measured › How do we protect from foreign buyers without causing economic harm?

John Clark: Vice President , The Regional Group of Companies Inc

Winnipeg building transformed into updated office space

Commercial  •  Winnipeg Free Press

A historic Winnipeg building that originally housed the Manitoba College of Pharmacy has been renovated, reinvigorated and put up for lease by Avison Young as modern office space.

FP series: Grande Prairie is the new Fort Mac

Residential, Commercial  •  Financial Post Part IV  •  Financial Post Part III  •  Financial Post Part II

Grande Prairie has been going through an unprecedented boom for the last decade or so, faring much better in an environment of low oil and gas prices compared to the rest of Alberta. Part I kicked off the four-part series.

Alberta farmers feel pinch as rental income dries up

Commercial  •  Edmonton Journal

Hutterite colonies in Northwestern Alberta, like many farms in the province, signed leases with oil and gas companies in efforts to supplement their incomes. As commodity prices have tumbled those rental payments have either dried up or disappeared.

Top 10 largest construction project starts in Canada

Residential, Commercial  •  Daily Commercial News

The accompanying table records the 10 largest construction project starts in Canada in November. Also included is the latest trend graph on starts. This looks at 12-month moving totals of the civil and non-residential building categories in Canada.

HBC delaying shareholder vote on takeover offer

Commercial  •  Toronto Star  •  Globe and Mail (Sub. required)  •  Financial Post

Hudson’s Bay Co. (HBC-T) is delaying a shareholder vote on a $1.1-billion takeover offer by a group led by the retailer’s executive chairman following a ruling by the Ontario Securities Commission. The special meeting of shareholders was set for Tuesday.

Developers building offices; workers using fewer of them

Commercial  •  Bisnow

Developers are building more office buildings today than at any point in the last decade, but the changing nature of the work could threaten long-held beliefs about the way the office market will behave as we enter the next decade.

Niche operators change face of U.S. co-working

Commercial  •  CP Executive

The ongoing struggles of WeWork parent The We Co. have dominated co-working news, but the real action in the flexible office industry may be far from the limelight, as tiny, independent operators quietly remake the American workplace.

Subversive REIT files preliminary prospectus

Commercial  •  Canada Newswire

Subversive Real Estate Acquisition REIT LP has filed a preliminary prospectus for an IPO. Subversive targets a qualifying transaction that will aggregate a portfolio of properties with an estimated aggregate enterprise value of between $200 million and $650 million US.

Adler Real Estate shares rise on Ado takeover offer

Commercial  •  Reuters

Shares in German property group Adler Real Estate rose as much as 10.5 per cent on Monday after an agreed takeover offer by domestic peer Ado Properties on Sunday that marked further consolidation in the sector.

Feds to review mortgage stress test

Residential  •  Globe and Mail (Sub. required)

Prime Minister Justin Trudeau has asked Finance Minister Bill Morneau to consider recommendations for making the mortgage stress test “more dynamic,” after widespread criticism of its design.

Rental shortage will get ‘deeper’: KPMG

Residential  •  Huffington Post

After years of elevated and seemingly constantly rising house prices, barely half of Canadians will be able to afford a home of their own, according to a new study by KPMG. That means the country will need more rental housing,

Household borrowing jumps by 31%

Commercial  •  Huffington Post  •  Globe and Mail  •  Financial Post

Canadian households may be going bust at the fastest pace since the financial crisis a decade ago, but that’s not stopping other consumers from taking on debt. Falling interest rates have convinced consumers to jump right back into the red.

Brighter days ahead for Calgary market?

Residential  •  Calgary Herald

Conditions remain challenging in the city’s real estate market, a new Altus Group (AIF-T) report has found. The study also revealed increased activity in some areas of the market, indicating brighter days may be ahead.