GTA industrial space crunch drives spec development: Colliers

RENX  Commercial  •  Industrial  •  Toronto / GTA

E-commerce and logistics facilities are driving historically low vacancy in the Greater Toronto Area’s booming industrial real estate market, and that’s not expected to end anytime soon. “Online retailers’ market share is not decreasing,” Colliers’ Peter Garrigan told RENX.

TMX sparks interest in Edmonton warehouse space

Commercial  •  Edmonton Journal  •  CBC  •  RENX

Some Edmonton developers are zeroing in on the construction of warehouse space in the wake of the Trans Mountain pipeline expansion project, suggests a new report by real estate and investment services firm CBRE.

Vancouver port authority, tenant battle over terminal

Commercial  •  Globe and Mail (Sub. required)

The Vancouver Fraser Port Authority is locked in a bitter fight against one of its own tenants – GCT Global Container Terminals Inc., – over how best to expand container capacity at Canada’s largest port.

SmartCentres, Selection plan 2 Ottawa apt. towers

RENX  Residential, Commercial  •  Seniors Housing, Apartments  •  Ottawa

SmartCentres REIT (SRU-UN-T) and Selection Group plan a two-tower development on the site of a shopping centre in West Ottawa. The $150-million project calls for a 13-storey apartment building and a 14-storey independent supportive living tower at Laurentian Place.

SNC-Lavalin books $2B charge, unveils reorganization

Commercial  •  CTV  •  Reuters  •  Canada Newswire

SNC-Lavalin Group Inc. (SNC-T) warns its 2019 results could be significantly lower than anticipated, largely due to cost overruns at some construction projects and says it will undergo a reorganization to exit or section off its poorer performing segments.

Phase 1 of Wilderton Centre revitalization underway

Residential, Commercial  •  Montreal Gazette

The worn-out 1960s-era Wilderton Shopping Centre in Montreal’s Côte-des-Neiges will soon be replaced by a new mixed-use residential and retail hub inspired by similar mall revitalization projects in Toronto and Vancouver.

The Saskatchewan Edge › Do I have a deal for you

Kelly Macsymic: Business Manager, Stuart Commercial Inc., Sales Associate, ICR Commercial Real Estate

Architects imagine a stadium in symbiosis with Montreal

Residential, Commercial  •  La Presse

Redevelopment fears persist at Kensington Market

Commercial  •  Toronto Star

Plans revised for 58 Atlantic office building

Commercial  •  Urban Toronto

An office building proposal in Toronto’s Liberty Village area has been resubmitted to the city for final adjustments. The initial application for 58 Atlantic Ave. from developer The Fueling Station proposed a 12-storey office building.

Richmond developer cancels 15-storey residential tower

Residential  •  Richmond News

A Richmond developer has pulled the plug on a 15-storey mixed-use residential tower in the city centre. Andersons Square Holdings notified its customers it’s cancelling more than 100 pre-sale contracts for the development, with a full refund of deposits, plus interest.

Bankruptcy trustee launches developer probe

Commercial  •  Globe and Mail (Sub. required)

An Ontario bankruptcy trustee has launched an investigation after a developer failed to pay millions of dollars owed to investors who financed a housing development north of Toronto. FAAN Mortgage Administrators Inc. made the bankruptcy application.

CPPIB bets on Asia-Pacific

Commercial  •  IPE Real Assets

Outside of the U.S., Asia-Pacific has become the largest investment destination for Canada Pension Plan Investment Board (CPPIB). By 2025, it will have channelled up to one-third of a projected $476 billion of its assets into emerging markets.

NexPoint Hospitality to acquire Condor for $318M

Commercial  •  Canada Newswire

Condor Hospitality Trust (CDOR-A) has agreed to be acquired by NexPoint Hospitality Trust (NHT-U-X) for a total consideration of US$318M, which will be paid with a combination of cash and debt, including the assumption of certain debt.

Vail Resorts to acquire Peak Resorts

Commercial  •  Globe Newswire

Peak Resorts, Inc. (SKIS-Q) today announced it has entered into a definitive merger agreement in which Vail Resorts, Inc. (MTN-N) will acquire all of its outstanding shares of common stock for $11.00 per share in cash.

Mississauga wants to transform its waterfront

Residential, Commercial  •  CBC

The City of Mississauga’s waterfront could be revamped and redeveloped in the coming years — according to a proposal to expand and develop the area around a marina in the community of Port Credit.

Bill 108 cuts red tape on housing developments: BILD

Residential  •  Toronto Star

Bill 108, the More Homes, More Choice Act is intended to improve housing affordability in the GTA by ensuring cost certainty for development projects, reducing red tape and shortening the time frame for land use approvals.

B of C lowers qualifying rate in mortgage stress tests

Residential  •  Kamloops Matters  •  Globe and Mail  •  Financial Post

The Bank of Canada has lowered the rate used by mortgage stress tests to determine whether would-be homeowners can qualify, marking the first drop in three years. The central bank’s five-year benchmark qualifying rate is 5.19 per cent, down from 5.34.

$249,000 vacancy tax on home correct: Vancouver

Residential  •  Vancouver Sun

The City of Vancouver has filed court documents defending a decision to impose a $249,000 vacancy tax on the owner of a Point Grey property. Yi Ju He had filed a petition in B.C. Supreme Court seeking to quash the tax.

Gatineau home sales up 10% in Q2

Residential  •  Ottawa Business Journal

Gatineau’s realtors were especially busy these past few months as the wider province of Quebec saw its biggest quarterly surge of home sales in more than a decade, according to data released Friday by the Outaouais Real Estate Board.