CentreCourt’s 10th anniv. shapes up as record year

RENX  Residential  •  Condominiums  •  Toronto / GTA

CentreCourt has launched sales of The Forest Hill condominiums, marking an early start to its 10th anniversary in 2020, which will be its busiest yet. Founded by CEO Andrew Hoffman in 2010, CentreCourt is one of the GTA’s most active condo developers.

60% of Montreal’s tallest residential tower sold

Residential  •  Canada Newswire  •  RENX

As Brivia Group‘s $400-million, 61-storey 1 Square Phillips‘ sales office officially opens, more than 60 per cent of the 500 residential units in the first phase have been sold.

Vancouver land sales plummet 70% in first half

Residential, Commercial  •  Western Investor

A tentative market pushed the dollar volume of Metro Vancouver land sales in 2019’s first half down a whopping 70 per cent year-over-year, according to the Vancouver Flash Report from Altus Group.

Tech sector needs flex space to grow in Halifax: CBRE

RENX  Commercial  •  Office, Technology  •  Atlantic Canada

A lack of flexible office and coworking space in the Halifax could hamper growth in the cities’ emerging tech sector, says Andrew Bergen of CBRE’s Atlantic Canada office. Bergen said growing science and tech companies need quickly scalable space options.

T.O. smart city to include self-driving garbage cans

Residential, Commercial  •  Reuters  •  CBC  •  Financial Post

Alphabet’s Sidewalk Labs has provided more details on the technology it intends to use to develop a futuristic smart city in Toronto, which includes self-driving garbage cans and infra-red sensors to track foot traffic in stores.

The Saskatchewan Edge › The booming pet business is nothing to bark about

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

DND losing staff because of move to Ottawa campus

Commercial  •  Ottawa Citizen

Staff are leaving the Defence Department rather than relocate to its new West-End Ottawa headquarters, but just how many employees are bailing are unknown at this point. The new headquarters will be home to 9,300 Canadian Forces personnel and DND staff.

Construction firm demands $11M from LRT builder

Commercial  •  CBC  •  CBC  •  CBC

Construction giant Tomlinson Group is demanding more than $11 million in late payments from Rideau Transit Group (RTG), the builder of Ottawa’s beleaguered Confederation Line. The total “includes more than $8,200,000 of holdback funds on work . . . as long as four years ago.”

DHL to build $100M handling facility at Hamilton airport

Commercial  •  Daily Commercial News

Delivery logistics firm DHL has announced it will build a new $100-million shipment facility at John C. Munro Hamilton International Airport. The facility will enable DHL to manage double-digit growth in shipment volumes, stated a release.

Aurora Cannabis pauses construction projects

Commercial  •  CBC  •  Financial Post  •  Financial Post

Canadian cannabis producer Aurora Cannabis (ACB-T) is suspending construction on its Medicine Hat, Alta., and Denmark facilities in order to “strengthen its balance sheet” after poor financial performance.

Calgary’s green line falls off the rails

Commercial  •  Globe and Mail  •  CBC  •  Calgary Herald

The Green Line was supposed to be a spine down the middle of Calgary and transform neighbourhoods along the way, but the planned light-rail line now faces possible delays, a ballooning budget and lukewarm provincial support before construction even starts.

REOC third-quarter financial results

Commercial  • 

Dundee Corp., (DC-A-T), Globe Newswire

Skyline Investments, (SKLN.TA), Sedar

StorageVault Canada Inc., (SVI-X), Globe Newswire

Walmart’s Q3 results beat estimates, shares rise

Commercial  •  Reuters  •  Canadian Grocer  •  La Presse

Walmart Inc. (WMT-N) reported better-than-expected third-quarter U.S. comparable sales on Thursday as people spent more at its stores and website and the retailer picked up market share in food and other groceries.

Loblaw getting into micro-fulfillment

Commercial  •  Canadian Grocer

Loblaw Cos. (L-T), which owns No Frills, Fortinos and pharmacy chain Shoppers Drug Mart, is in the process of building a 12,000-square-foot automated micro-fulfillment area within a Superstore at the intersection of Dufferin and Steeles in the Greater Toronto Area.

Katz Group eyes 23,000-seat Frankfurt arena

Commercial  •  Edmonton Journal  •  RENX

With Rogers Place under its belt, Edmonton-based Katz Group is looking to double its arena inventory. The Edmonton Oilers owners have set their sights on Frankfurt to build a 23,000-capacity indoor arena after they were approached by local investors.

WeWork preparing to lay off at least 4,000

Commercial  •  Globe and Mail  •  Reuters

WeWork is preparing to cut at least 4,000 from its work force as it tries to stabilize itself after the company’s breakneck growth racked up heavy losses and led it to the brink of collapse, two sources said.

Ottawa votes to restrict short-term rentals

Residential  •  Ottawa Citizen  •  CBC

Airbnb and the platform’s local hosts blasted the city on Friday for trying to restrict Ottawa’s short-term rental market, while housing advocates and community associations told councillors to forge ahead with tough regulations drafted by city staff.

Some Metro Vancouver homeowners losing big

Residential  •  Vancouver Sun  •  Vancouver Province

Some Metro Vancouver homeowners who bought just before or just after the start of the market correction in the summer of 2016 and have now sold their homes are being hit with staggering losses.

Oversupply of condos bad news for B.C.

Residential  •  BCBusiness

OPINION: Demand for new B.C. housing has slipped, creating headaches for developers and a thinner pipeline of projects for construction crews. To add insult to injury, still more supply is completing as 2019 draws to a close.

Canadian home sales up 12.9 per cent YOY: CREA

Residential  •  Canada Newswire  •  CTV  •  Globe and Mail (Sub. required)

Statistics released today by the Canadian Real Estate Association (CREA) show national home sales held steady on a month-over-month basis in October. Actual (not seasonally adjusted) activity was up 12.9% year-over-year.