Landa Global plans 3-tower development in Richmond

RENX  Residential, Commercial  •  Condominiums, Hotels and Resorts  •  Metro Vancouver

Landa Global Properties submitted a rezoning application to redevelop warehousing on a 3.5-acre Richmond site into a three-tower mixed-use development that will also add the first hotel to the company’s portfolio. Landa is heavily investing in the Metro Vancouver city.

RealNet founder Carras still a proptech innovator with R-LABS

RENX  Residential, Commercial  •  Condominiums, Homes, Investment, Technology  •  National, Toronto / GTA

More than 25 years after founding RealNet Canada, George Carras is still a commercial and residential real estate innovator. His current venture is R-LABS, which assembles partners to help build real estate tech firms. Teranet is its latest partner.

Core acquiring $1B worth of houses to convert to rentals

Residential  •  Globe and Mail (Sub. required)  •  RENX

Toronto-based Core Development Group Ltd. is buying hundreds of detached houses in Ontario, with the plan of renting them and profiting on the housing crisis ripping across the country. It seeks to have a $1-billion portfolio of 4,000 rental units by 2026.

The People Space › People Space: Fiera, JLL, Colliers, CI add executives …

Don Wilcox: Managing Editor

Westons consider sale of U.K., Ireland dept. stores

Commercial  •  Globe and Mail (Sub. required)  •  VogueBusiness

Canada’s billionaire Weston family is considering a potential sale of some of its department-store assets in Britain and Ireland, after a $6.86-billion Cdn offer from a potential buyer for Selfridges Group.

Canadian companies adjusting to supply chain chaos

Commercial  •  Globe and Mail (Sub. required)  •  RENX  •  RetailWire

Unrelenting demand from cash-flush shoppers and ever-changing COVID-19 protocols – resulting in more checks and labour shortages at each step of the transportation chain – have created an unprecedented slowdown of goods that is testing the global economy and its distribution networks.

Plaza unveils 49-storey 400 King West plans

Residential  •  Urban Toronto

Straddling Toronto’s Entertainment District and Fashion District, a former Mountain Equipment Co-Op site is soon to be redeveloped with the 49-storey 400 King West condominium tower from Plaza. The BDP Quadrangle-designed tower will include 612 residential units, starting from 600 square feet.

E15 Just off Main: Cars to condos for OpenRoad

Residential, Commercial  •  urbanYVR

E15 Just off Main, a Vancouver townhouse development, is the first project for OpenForm Properties, a division of auto retailer OpenRoad Auto Group. OpenRoad also plans to develop its OpenRoad Honda dealership property in Burnaby into a 40-storey residential tower.

MZOs benefiting developers with ties to PC

Residential, Commercial  •  Toronto Star

The Ford government says minister’s zoning orders are used to benefit the people. However, an investigation shows they are increasingly benefiting a select group of prominent land developers with strong ties to municipal leaders and the Ontario PC party.

Westoak abandons Whyte Avenue condo complex

Residential  •  CBC

Westoak Development has abandoned its plans to build the Mezzo 16-storey condo tower in Edmonton’s Old Strathcona five years after city council approved the project. The lot is for sale with an asking price of $5.3 million.

Developer pulls out of Saskatoon redevelopment

Residential, Commercial  •  CBC

An unnamed development company has backed out of revitalizing a large site near downtown Saskatoon. The developer, after making a successful bid to adapt a former transit maintenance building and storage yard in 2019, blamed the post-COVID business climate.

Recipe Unlimited selling Milestones chain to Foodtastic

Commercial  •  Victoria Times Colonist

Recipe Unlimited Corp. (RECP-T) says it has signed a deal to sell its Milestones chain of restaurants to Quebec-based Foodtastic Inc. Financial terms of the deal were not immediately available. Foodtastic earlier this year bought the Second Cup Coffee chain.

Developers scramble to deal with costs, uncertainty

Residential, Commercial  •  Daily Commercial News

Canadian developers, contractors and consultants are dealing with sectoral uncertainty and rising costs on a scale not seen in years, according to the Update on Construction Costs and Supply online panel discussion presented at Informa Canada’s 2021 Land and Development Conference.

Brookfield planning 1,000 U.S. gaming locations

Commercial  •  Chain Store Age

Electric Gamebox, a multi-player video game experience developed in the U.K., will be opening 100 locations in the U.S. in the next two years — many of them in properties belonging to Brookfield Asset Management, which plans 1,000 U.S. locations by 2026.

Mall owner Washington Prime files for bankruptcy

Commercial  •  USA Today

Mall owner Washington Prime Group Inc. filed for Chapter 11 bankruptcy protection late Sunday, citing the pandemic for making the move necessary. The company, which spun off from the U.S.’ largest mall operator, Simon Property Group, in 2014, currently has 102 shopping centres.

Dalfen acquires Stockton, Calif., industrial property

Commercial  •  PR Newswire

Dalfen Industrial closed a Northern California acquisition with the purchase of Pock Lane Logistics Center at 4212 Pock Lane in Stockton. The 55,200-square-foot building was built in 1995 and is 100 per cent occupied by KMM Corp.

Downtown real estate may return to pre-COVID levels

Residential  •  Financial Post  •  Toronto Star

If a return to the pre-pandemic equilibrium (including employees returning to their cubicles in tall office towers) is the likely scenario down the road, centrally located neighbourhoods will likely see their fortunes approaching former levels.

Montreal unveils plans to transform Centre-Sud

Residential  •  MTL Blog

On Thursday, Montreal Mayor Valérie Plante announced the city’s plans for a huge new project that will completely transform the Centre-Sud, a neighbourhood of Ville-Marie. including thousands of new housing units, including social, affordable and family housing.

Luxury Montreal condos avoid transfer tax

Residential  •  La Presse

While Montreal real estate transfer taxes are rising at the same rate as real estate, condos in many of the city’s most prestigious buildings are exempt thanks to a joint ownership technical detail the city wants to tackle.

Ottawa adjusts official plan after intensification worries

Residential  •  CBC

After concerns flooded into city hall from Ottawa residents worried their neighbourhoods would be transformed by infill development and multi-unit buildings, city staff have pulled back on some of the most contentious proposals in their draft official plan.