NYX Capital assembles 12 Toronto properties for condo project

RENX  Residential  •  Condominiums, Land  •  Toronto / GTA

NYX Capital Corp. has assembled 12 Toronto properties on Yonge Street near Lawrence Avenue which it plans to transform into a mixed-use condominium development. The assembly at 3180 to 3202 Yonge St. took two years to put together

First Capital to sell Mtl. dev. block, interest in 6 retail sites

RENX  Commercial  •  Land, Retail  •  Ontario, Quebec, Calgary, Edmonton

First Capital REIT (FCR-UN-T) has agreements to sell a 50 per cent, non-managing interest in six grocery-anchored retail properties, as well as a portion of developable land at Place Panama on Montreal’s South Shore. The transactions are valued at approximately $115 million.

Oilpatch merger bad news for Calgary’s office sector

Commercial  •  CBC  •  RENX

“I have always been worried more about consolidation than I have the impact of COVID,” Calgary Economic Development’s Mary Moran said after the mega-merger between Cenovus Energy and Husky Energy was approved. The downtown office vacancy rate was already approaching 30%.

GTA’s $11-billion Ontario Line may not open until 2030

Residential, Commercial  •  Toronto Star

The Ontario Line may not open until 2030, three years later than Premier Doug Ford promised when he unveiled the $11-billion transit project last year. A report released by provincial transit agency Metrolinx Thursday confirmed the deadline won’t be met.

Calgary’s Green Line paused over funding uncertainties

Residential, Commercial  •  Calgary Herald  •  CBC  •  Global News

Calgary is delaying the next step in the Green Line LRT project, which could jeopardize plans to start construction next year. Sources said the procurement process will be delayed as the city looks for certainty about the province’s financial commitment.

Canada should learn from Montreal’s transit ambitions

Residential, Commercial  •  Globe and Mail

EDITORIAL: Montreal’s pitching of the $10-billion REM de l’Est now, in the depths of the pandemic, is the type of ambitious thinking that looks past the pandemic. By next fall, with many Canadians vaccinated, COVID-19 will have receded.

The Legal Corner › Bill 229: Protect, Support and Recover from COVID-19 Act (Budget Measures), 2020

Darrell Gold: Partner, Robins Appleby LLP

First Capital proposes three mixed-use towers

Residential, Commercial  •  blogTO

Liberty Village may soon see a massive new development that will change the landscape with three new mixed-use towers and a park. A re-zoning application from developer First Capital has been submitted for t61 Hanna Ave., 75 Hanna Ave., and 120 Lynn Williams St.

Investors reportedly ready to build $300M F.N. film studio

Commercial  •  Victoria Times Colonist

Victoria-based Alpha Select Production Services, the film company behind plans for a $300-million film studio with six sound stages and a ­commercial complex on Malahat Nation land in Mill Bay, says investors are ready to sign off on the project.

The metamorphosis of Montreal’s rag district

Commercial  •  La Presse

OPINION: The 2000s were a turbulent decade for Montreal’s fashion district, due to the growth of overseas manufacturing leading to a wave of closures. Today, the Chabanel district is diversifying well beyond said rag.

Payzac proposes nine-storey condo near Guildwood GO

Residential  •  Urban Toronto

Payzac Development Corp. has proposed a nine-storey 145-unit condo building at 4151 Kingston Rd. in Scarborough, a short walk from Guildwood GO station. The building would be designed by Chamberlain Architect Services,

Founder, wife leave as Le Chateau prepares to shutter

Commercial  •  Toronto Star  •  Canada Newswire  •  La Presse

Le Chateau Inc. (CTU-H-X) says its founder and his wife have left the insolvent company as it prepares to close its doors. Herschel Segal and his wife, Jane Silverstone Segal, resigned as directors effective Wednesday.

BGO to invest $10B in Japanese office buildings

Commercial  •  Business Times

Sun Life Financial’s real estate arm – BentallGreenOak – plans to double staff and invest US$10 billion in Japan over two to three years, of which as much as 70 per cent may go into office buildings in the country’s major business districts.

PSP Investments, Tishman Speyer JV on Paris office deals

Commercial  •  IPE Real Assets

PSP Investments and Tishman Speyer have made two major acquisitions in the Paris office market, acquiring 30-year-old skyscraper Tour Cristal in the Front de Seine area and the Carré Saint-Germain, a mixed-use property on Boulevard Saint-Germain. Financial details weren’t disclosed.

Epta Development acquires 100-acre U.K. industrial land

Commercial  •  Canada Newswire

Vancouver’s Epta Development Corporation has acquired a prominent 100-acre redevelopment property in the heart of Avonmouth Severnside, England. EDC’s master plan proposal features a sustainable, modern, multi-unit scheme totalling over 1,850,000 square feet of leasable area at completion.

Flagship acquires seven U.S. MHCs for $12.9M

Residential  •  Canada Newswire

Flagship Communities REIT (MHC-U-T) announced it has completed the acquisition of five U.S. manufactured housing communities and waived due diligence conditions on the acquisition of two additional MHCs for a purchase price of approximately US$12.9 million.

B of C governor wants to avoid past housing mistakes

Residential  •  Financial Post

“I agree that at times it might have been even better to move a little earlier and a little more gradually, particularly when you are using new instruments,” says Bank of Canada’s Tiff Macklem, who served as Mark Carney’s understudy.

Canada’s eight most competitive housing markets

Residential  •  Financial Post

The eight most competitive markets and their sales-to-new-listings ratios according to a new study by online realtor Zoocasa. are: Sudbury (117 per cent), Saint John (110%), London and St. Thomas (109%), Halifax-Dartmouth (108%), Thunder Bay (106%), Niagara Region (106%) and Victoria (101%).

Canadian home prices rose 0.9% in November: Teranet

Residential  •  Globe and Mail (Sub. required)

Canadian home prices rose 0.9 per cent in November from October, the strongest gain for a November in the index’s 22 years, led by gains in the cities of Hamilton, Halifax and Montreal, the Teranet-National Bank Composite House Price Index showed Thursday.

Manitoba sells record 15,818 homes in 2020

Residential  •  CTV

Manitoba has seen a record year for real estate in 2020, despite the global pandemic. According to the Manitoba Real Estate Association (MREA), year-to-date, there have been a total of 15,818 homes sold, an 13 per cent year-over-year increase.