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Capital to develop flatiron-style Toronto Park Road condos
Capital to develop flatiron-style Toronto Park Road condos
Capital Developments will launch sales in mid-September for its distinctly designed Park Road project, a 27-storey flatiron-shaped condominium in Toronto’s exclusive Yorkville neighbourhood.
Strathallen continues transformation, becomes Salthill Capital
Strathallen Capital has transformed its management team while expanding its services over the past three years, and it takes its next step today by rebranding as Salthill Capital.
Downtown office vacancy shows signs of improvement
Suburban office markets are continuing to show lower vacancy rates than downtown areas, where a substantial increase in new office supply has been pushing vacancies higher, according to Colliers Canada’s latest National Market Snapshot.
Mach, Sarees buy 922,000-sq.-ft. Toronto Atria office complex
Groupe Mach and Sarees Investments have acquired the 922,000-square-foot Atria Complex in North York, at a purchase price that is a fraction of its replacement value, says Mach president Vincent Chiara.
Vancouver college plans more than 3,300 homes
Vancouver Community College plans new educational space and a series of residential towers of up to 25 storeys that could include more than 3,300 homes as part of a redevelopment of its East Vancouver property.
B.C. real estate investment plummets in first half: AY
B.C. real estate investment plummeted on a year-over-year basis during the first half of 2023, says Avison Young. Sales of all asset classes, including multifamily and land, have fallen 72 per cent to $2.4 billion in 2023.
Vancouver’s West 4th retail district thriving
Monos choosing West 4th for its first shop shouldn’t come as a surprise, say local retail experts and stakeholders who suggest the Vancouver district is emerging as one of the most successful, unique shopping streets in all of the country.
Vancouver's east-west divide demonstrated in housing
An analysis of Vancouver building permits issued for select residential-zoned lots between Jan. 1, 2017, and July 18, 2023 shows East Vancouver homeowners are adding suites, duplexes and laneway houses, while it's mainly detached homes on the west side.
Centrepiece of Ont. housing plan faces multiple roadblocks
A clock is ticking on the Ontario government’s self-imposed tight deadlines for developers to produce housing in Pickering. Local municipal officials say the needed pipes and roads will take years and cost millions.
Business leaders decry Ont.’s property assessment delay
In a July 14 letter, a coalition of municipal, business and real estate industry representatives urged Ontario Premier Doug Ford to commit to a date for the Municipal Property Assessment Corp. (MPAC) to conduct a new reassessment.
Oxford Properties puts ESG data at centre of 2022 report
Oxford Properties Group made 2022 a crucial year for its ESG practice by focusing on data collection and education to integrate its initiatives across the company, which it considers key to its future activities.
RioCan, Northwest unlock passive income, capital growth
RioCan REIT (REI-UN-T) invests in “trophy properties” across Canada. Its portfolio includes several recognizable big city landmarks, such as The Well in Toronto and Coliseum in Ottawa. Northwest Healthcare Properties REIT (NWH-UN-T) specializes in leasing office space to health-care providers.
Blackstone sells self-storage business for $2.2B
Blackstone Inc.’s $68 billion real estate trust (BREIT) has agreed to sell Simply Self Storage to Public Storage (PSA-N) for $2.2 billion as the property vehicle grapples with investor withdrawals and upheaval in the commercial property sector.
Brookfield cuts staff amid development slowdown
Brookfield Properties has laid off dozens of workers in its North American development division, fewer than 100 full-time employees in total. Brookfield Properties, a subsidiary of Brookfield Asset Management, has about 1,400 staff.
Nobody knows where bottom is for CRE
A slow-motion crisis is unfolding in the commercial real estate market, thanks to the double-whammy of higher interest rates and lower demand for office space following the COVID-19 pandemic.
Lender sues to foreclose on WeWork's San Fran tower
Special servicer Torchlight Loan Services filed a foreclosure lawsuit against WeWork Capital Advisors and its joint venture partners after the company fell behind on a $240M loan attached to a 20-story tower at 600 California St. in downtown San Francisco.
Increasing demand for secondary units due to rate hikes
As Canadians grapple with interest rate hikes and high mortgage payments, there is a growing demand for houses with secondary units, like basement apartments and laneway homes, says Ken Bekendam, CEO and founder of legalsecondsuites.com.
Habitat for Humanity helping higher-earners buy homes
After decades of helping low-income Canadians get into homes, Habitat for Humanity is witnessing a profound change in who it is assisting. The charity is increasingly backstopping mortgage loans for higher-income households, including those earning about $100,000 a year.
Sales of new GTA homes sluggish in June
There were 2,526 new-home sales in the GTA last month, up 32 per cent from June 2022, but about 30 per cent below the 10-year average, according to new numbers from the Building Industry and Land Development Association (BILD).
Edmonton's real estate market offers buyers value
Edmonton’s real estate market may have seen sliding sales and prices in June, but the conditions present an opportunity for buyers seeking affordability, says Melanie Boles, chair of the Realtors Association of Edmonton.
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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