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Vancouver's Oakridge Park sparks mega-project planning boom
Van.'s Oakridge Park sparks mega-project planning boom
A slowdown in land-buyer appetite in Metro Vancouver hasn’t stopped owners and real estate brokers from moving forward with efforts to amass assemblies of single-family homes, then market the properties for high-rise redevelopment.
Loblaw says it will open 40 new stores, invest $2B in '24
Two days before releasing its year-end financial report, Loblaw Companies Inc. (L-T) has stated it will invest $2 billion in Canada during 2024 and open 40 new stores. It's an almost identical commitment to one made in early 2023.
CRE sector set for major shift: Premise Properties
Canada’s CRE landscape is set for a “seismic shift” not seen since the early 1990s as the cost of capital winnows out under-capitalized players and ushers in a new generation of investors, says Avtar Bains, Premise Properties' founder and principal.
Site of planned Van. tower to be sold post-foreclosure
A second high-profile high-rise tower planned for the West End of Vancouver is joining the list of development projects that are facing insolvency, with Vivagrand Developments in debt and the project site now being sold through a court-ordered foreclosure process.
Developers opt to run their own small-scale utilities
Developers on Canada’s West Coast are building their own small-scale utilities to bring heat, hot water and even air conditioning to larger projects, attracted by the promise of providing these comforts for a lower cost while releasing less carbon.
New tower reflects latest in Toronto's lost parking lots
OPINION: With the new Cadillac Fairview skyscraper at Front and Simcoe streets, Toronto has lost one of its last remaining downtown surface parking lots. A moment of silence. Before cars became king, downtown Toronto had hardly an empty lot.
Rate cuts possible as inflation slows in January: BMO
Canada’s inflation rate slowed to 2.9 per cent in January from 3.4 per cent in December. The fall could push the Bank of Canada to cut interest rates in the next few months, said BMO chief economist Douglas Porter.
Brookfield's private equity business could double
After Anuj Ranjan took over as CEO of Brookfield Asset Management Ltd.’s (BAM-T) private equity business earlier this month, he said the leadership transition was the culmination of a gradual process that has played out over nearly five years.
Maître Carré’s Mellem pairs sustainability and longevity
Sustainability and longevity go hand-in-hand with Montreal developer Maître Carré as it completes Manoir-des-Trembles, its 189-unit rental building in Gatineau, Que., under its Mellem brand. Maître Carré is pursuing LEED Silver certification for the project.
Canadian Tire results point to economic storm: Experts
The economic dam appears to be breaking. A dismal earnings report from Canadian Tire is just one quarter from one company, but some retail analysts and an economist warn it is the tip of a consumer-driven economic iceberg.
Pusateri’s to shutter Yorkville store after 20 years
The upscale Pusateri’s grocery store in Toronto’s Yorkville neighbourhood will be closing at the end of March after more than 20 years. The store opened to much fanfare in October 2003 with valet parking, private chefs and marble-clad interior.
Manitoba production studio project stalls
The creation of a production studio village in Niverville, Man., has been stalled by financing and altered due to environmental concerns. Local film production company Julijette Inc. and Volume Global planned a 40,000-square-foot soundstage and 20,000-square-foot pop-up stage.
Ottawa to provide $2B in loans for B.C. rental units
The federal government says it has agreed to provide $2 billion in low-cost loans to spur the construction of rental units in British Columbia, forging a deal that focuses on building on municipally owned land.
Ont. seems willing to let tenant situation 'fester': Report
Tribunal Watch Ontario, which keeps tabs on Ontario's tribunals, says there were 53,000 unresolved cases at the Landlord and Tenant Board (LTB) as of March 2023, impacting at least one million Ontarians. The LTB resolves disputes between landlords and tenants.
Renters more likely to lament quality of life: StatCan
Renters across the country faced record low vacancy rates and record high rent increases in 2023, but Statistics Canada says Toronto and Vancouver residents who don't own their homes face the greatest financial and mental pressures.
Ottawa rent drops slightly in January
A new report from Rentals.ca and Urbanation shows the average cost to rent a purpose-built apartment or condominium in Ottawa was $2,219 a month in January, down from $2,228 in December and $2,238 in November.
CPP sells partial stake in Korea venture for $245M
CPP Investments has agreed to a restructure and sale of a 21 per cent interest in the Kendall Square Development Venture in South Korea. Net proceeds to CPP will be approximately US$245 million.
Tricon receives interim order for proposed Blackstone takeover
Tricon Residential Inc. (TCN-T) announced the Ontario Superior Court of Justice granted an interim order in the statutory plan of arrangement pursuant to which Blackstone Real Estate Partners X will acquire all outstanding common shares of Tricon.
Ivanhoé, Hines welcome Pinterest at Chicago campus
Ivanhoé Cambridge and Hines have signed a lease agreement with Pinterest at 10 and 120 S. Riverside Plaza, a two-building office complex in Chicago’s West Loop. The company committed to 24,000 square feet at the 1.4-million-square-foot class-A campus.
$12B chip plant expansion planned in New York
GlobalFoundries is planning to invest more than $11.6 billion over the next decade to expand its Fab 8 semiconductor manufacturing site in Saratoga County. The potential investment will include the construction of a new 358,000-square-foot lab.
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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