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RioCan delays new construction, gains on retail, apartments
RioCan delays new construction, gains on retail, apts.
RioCan REIT (REI-UN-T) president and CEO Jonathan Gitlin says the REIT will delay new construction projects due to economic conditions as it reported a net loss, but strong revenue and development metrics in its Q3 2023 financials.
CF to build rental apt. tower at Montreal's Quad Windsor
Cadillac Fairview is set to begin construction of a new multiresidential tower on a property originally designated for an office high-rise as part of the massive Quad Windsor redevelopment in downtown Montreal.
StorageVault to acquire four locations for $75.7M
StorageVault Canada Inc., (SVI-T) has agreed to acquire four locations from four vendor groups for an aggregate purchase price of $75,685,000. The assets are located in Nova Scotia, Quebec, Ontario and British Columbia.
Couche-Tard to sell 93 stores, 25 in Canada
Alimentation Couche-Tard (ATD-T) has put for sale 25 Mac's, Circle K and Couche-Tard stores in Alberta, Ontario, Quebec and Saskatchewan along with 68 U.S. Circle K stores. The deadline bids for the Canadian operations are due Jan. 9, 2024.
Calgary hotels face 40% jump in taxes next year
Early city estimates indicate the total tax load for Calgary hotels and motels next year will skyrocket by 43 per cent to $26.3 million, up sharply from $18.4 million this year — pending changes when councillors debate next week.
 | Colliers Canada Colliers celebrates 125 years: Taking risks and making movesColliers is celebrating our 125th year of doing business in Canada. That's 125 years of leveraging our expertise and enterprising culture to accelerate the success of our people, clients and communities. Sponsored by: Colliers Canada |
Ottawa Andaz Hotel seeks approval for addition
The Andaz Hotel in Ottawa's ByWard Market is looking to expand, and is seeking approval to demolish a building. The proposal would require demolishing a building at 110 York St. to facilitate the construction of the 16-storey hotel addition.
N.B.'s Hôtel Shediac files for bankruptcy
Hôtel Shediac, a five-star hotel in downtown Shediac, N.B., has declared bankruptcy. The first meeting of creditors will be held on Nov. 9. Owner Francis Brun's construction company, Francis Construction, filed for bankruptcy about eight years ago.
86% construction waste cut just the start for Townline
An 86 per cent cut in construction waste that was destined for landfills is only the beginning of the sustainability journey for Vancouver-based developer Townline, which is setting its baselines for the coming years.
Use the best data to figure out where you can afford to live
PROPTECH PERSPECTIVES: Housing affordability has become one of, if not the biggest, challenges facing Canadians today. A recent study by National Bank of Canada ranked Ontario as the least affordable province when it comes to housing.
Toronto’s retail market finding ‘equilibrium’: JLL
Toronto’s retail market is moving towards equilibrium as foot traffic and dining improve, according to a recent report by real estate firm JLL. Paul Ferreira, senior vice-president at JLL, said in general sales are still relatively strong in most categories.
Kit and Ace to open several Metro Vancouver stores
Resilient Vancouver apparel brand Kit and Ace is poised for a rebirth. "We will open three new stores in Metro Vancouver," CEO David Lui said. One will be at West 4th Avenue in Vancouver with the others in the suburbs.
Victoria’s Royal Oak Golf Course sold for $8.5 million
The Capital Regional District (CRD) has purchased the former Royal Oak Golf Course adjacent to Elk/Beaver Lake Regional Park in Greater Victoria for $8.5 million. The property had been owned by a Saskatchewan numbered company since August 2017.
Ten questions for Desjardins Group CEO Guy Cormier
Every Friday, someone from the business community reveals themselves in our section. This week, Guy Cormier, president and CEO of Desjardins Group, answers our questions.
AG to probe province's Ontario Place plan
The provincial auditor general confirmed Friday a value-for-money audit was underway into Ontario Premier Doug Ford’s controversial scheme to revamp the province’s waterfront park with a new spa and a relocated Ontario Science Centre.
OPINION: Developers’ visual renderings are manipulative
We’re seeing more of how architectural images can be used, and abused, with virtually every massive multi-tower project in Vancouver, including the Oakridge Park, Jericho Lands, Sen̓áḵw and Broadway-Commercial clusters, as well as with Burnaby’s Metrotown, Brentwood and Lougheed conglomerations
Trez Capital, Hines to develop 528-acre Texas community
Hines, along with partners Trez Capital, Caravel Ventures, and Sumitomo Forestry, announced it has closed on 528 acres in Waller, Texas to be developed into a master-planned community. The development will consist of approximately 1,400 single-family homes.
Lendlease, Google end deals for $15B San Fran projects
Lendlease Group (LLESF) and Alphabet's (GOOGL-Q) Google are mutually ending development services deals for four master-planned districts worth $15 billion in the San Francisco Bay Area, the Australian company said on Friday, as developers continue to exit California's market.
Texas Instruments breaks ground on $11B plant
Texas Instruments (TXN-Q) has broken ground on its second 300-mm semiconductor fabrication plant in Lehi, Utah. The $11 billion investment, announced in February, is the largest in the history of the state.
Capital One seeks to offload more NYC CRE loans
McLean, Va.-based Capital One Financial Corp. is seeking to sell more New York CRE debt as property values fall. The bank is accepting bids for loans totaling nearly $200 million, which includes debt backed by offices and apartments.
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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