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Challenges abound, but retail REITS, owners drive business forward
Challenges abound, but retail REITS, owners drive biz forward
Bricks-and-mortar retail has performed better than many expected after lockdowns, increased online shopping and other challenges brought on in recent years by the pandemic and ensuing economic uncertainty.
Questions remain on feds’ GST waiver on rental housing
GUEST SUBMISSION: The federal government has finally confirmed its intention to remove GST charges on new rental housing, an excellent but critically delayed measure.
Constantine proposes 50-storey mixed-use in Brampton
Constantine Enterprises has proposed a 50-storey mixed-use tower at 118 Queen St. W. in downtown Brampton. The DIALOG-designed tower would include 544 residential suites, while the ground floor would comprise over 6,114 square feet of retail space.
Hydro One breaks ground on $120M centre, warehouse
Hydro One has broken ground on its 29,000 square foot regional operations centre and 120,000 square foot provincial warehouse in Orillia. The operations centre is expected to be operational by March 2025 and the distribution warehouse in May 2025.
Ont. infra minister told to consider properties for sale in 2018
When Ontario’s Progressive Conservatives took power in 2018, Premier Doug Ford ordered his infrastructure minister to pursue policies that were never disclosed to voters: to scrutinize Ontario’s real estate portfolio and consider which properties could be put up for sale.
Iconic Ontario drive-in movie theatre on sale for $1.6M
The Mustang Drive-In PEC, at 1521 County Rd. 1 near Bloomfield, Ont., running since 1945 is for sale for $1,599,000 — but an owner said they won’t sell this community hub to just anyone offering up the cash.
Manitoba housing development stalls amid court battle
A Portage la Prairie housing project expected to add over 200 three-bedroom units has stalled amid an ongoing shareholders’ dispute within Bokhari Development Inc. A court-appointed receiver has taken over the project, after Bokhari defaulted on mortgage payments this summer.
Magna sets global target for 100% renewable electricity
Magna International (MG-T) is taking a major step in its mission to achieve a net-zero future. The Aurora, Ont.-based auto parts manufacturer announced it will be submitting its carbon emissions targets for validation by the Science Based Targets initiative.
Fitzrovia can build 3,000 more rental units due to GST break
Real estate companies say the federal government’s new five per cent GST break on construction will spur development. Fitzrovia Real Estate said it would be able to build 3,000 more rental units within the next 10 months.
Toronto's wedding cake-style mid-rises could be thing of past
Toronto is considering softening its mid-rise building rules amid concerns the current rules limit the number of units inside. Currently, a mid-rise building must be built significantly back from property lines, with each floor smaller than the one below it.
Multi-units coming to Van.'s single-home areas
City councillors have approved sweeping changes to zoning and development bylaws to permit multi-unit dwellings in Vancouver neighbourhoods where only single homes have previously been allowed. Multiplexes will be allowed to have seven or eight purpose-built rental units.
Canadian housing starts fell 1% in August
Canadian housing starts fell one per cent in August compared with the previous month as groundbreaking decreased on multiple-unit projects, data from the Canadian Mortgage and Housing Corporation (CMHC) showed on Monday.
Montreal building owner sues city over deadly fire
Émile Benamor, the owner of building where a March fire left seven people dead, filed a $7.6-million lawsuit against the City of Montreal, accusing its fire department of inadequate involvement before and on the day of the tragedy.
Climate change having direct impact on home insurance rates
Fires across Canada are predicted to increase in frequency and severity. Homeowners and developers can expect insurance premiums to increase, which will have an impact on an already beleaguered housing supply. In turn, that will impact the affordability of housing.
London office market risks oversupply: Goldman
Offices in London’s West End theater and shopping district should yield better rental returns than those in the British capital’s traditional financial area due to their tight supply, according to Goldman Sachs Group Inc.
HOOPP to open London office
The Healthcare of Ontario Pension Plan (HOOPP) plans to open a London office as part of its global expansion, it said on Friday. HOOPP's real estate allocations have continued to grow outside Canada, rising 11.4% in 2022.
Google not hitting pause on largest real estate plans
Mountain View, Calif.-based Google's plans for a $1-billion 80-acre campus in San Jose will move forward despite concerns about cuts parent company Alphabet Inc. is making to its vast real estate portfolio around the world.
Former data dentre REIT CEO betting on RV storage
Former CyrusOne CEO Gary Wojtaszek is coming out of retirement with a multibillion-dollar REIT focused on recreational vehicle storage. Wojtaszek has raised more than $800 million for RecNation Storage, the REIT he founded in October 2020.
Bidding war continues for Yellow’s Truck terminal portfolio
The stakes have once again been raised in the fight for Yellow Corp.’s network of truck terminals. Estes Express Lines has put up $1.525B, replacing Old Dominion Freight Line’s $1.5B offer as the stalking horse bid.
China Evergrande shares tumble 25% after staff detained
Shares of embattled developer China Evergrande Group plunged 25 per cent on Monday after police detained some staff at its wealth management unit, suggesting a new investigation that could add to the property company’s woes.
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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