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Construction cost hikes eased in 2023, trend might continue: Altus
Construction cost hikes eased in 2023, trend might continue
Construction costs loosened their tight squeeze on the Canadian development sector in 2023 and may ease up further over the next 12 months, according to the 2024 Canadian Cost Guide released Wednesday by Altus Group.
Vancouver city council approves vision for Jericho Lands
The development partnership of three First Nations and a federal Crown corporation is one step closer to transforming 90 acres of West Point Grey into a high-density, car-light community after Vancouver city council voted in favour of their plan Wednesday.
BGO proposes three 27-storey towers in Hamilton
BGO has proposed three 27-storey mixed-use towers at 166 through 190 Main St. W. in downtown Hamilton. The Kirkor Architects and Planners-designed towers would include 901 residential units and 10,592 square feet of retail space.
Bosa plans 28-storey Van. hotel/rental tower
Bosa Properties and Henriquez Partners Architects are partnering with Listel Hospitality Group on a proposed 28-storey tower with 174 hotel rooms and 126 rental units. A hotel on the 1300 Robson St. site is slated to be demolished.
 | Trez Capital Navigating the path to recovery: The 2024 commercial real estate landscapeAs 2024 begins, the commercial real estate (CRE) sector looks forward to the possibility of an improving market in terms of both transaction volume and stability, providing a cautious but optimistic landscape for investors. Sponsored by: Trez Capital |
Vancouver boasts lowest vacancy rates in N.A.: Report
Vancouver enjoys North America’s strongest demand across all asset types, ending 2023 with the lowest vacancy rates for industrial, office, multifamily and retail properties among the 63 urban markets Lee & Associates monitors throughout the United States and Canada.
Metro Van. retail tenants ‘hard-pressed’ to find space
Across the Metro Vancouver region, average retail vacancy rates decreased from 1.5 per cent to 0.7 per cent since last summer, leaving hopeful tenants “hard-pressed to find suitable options,” according to a Jan. 24 report from Colliers Canada.
Troubled U.S. office sector weighs on Canadian banks
The troubled U.S. office real estate sector will weigh on Canadian banks’ earnings and credit quality, but the impact should be manageable, says Morningstar DBRS. Office real estate makes up the largest share of banks' U.S. CRE loan portfolios.
Red Sea attacks would spur inflation if delays reach Mtl.
It’s only a matter of time before rebel attacks on commercial ships in the Red Sea start affecting consumer goods prices in Montreal and other North American markets, experts say.
PwC Canada buys property tax consultancy Equitable Value
PwC Canada has acquired Equitable Value Inc., a Toronto-based property tax and valuation consulting firm. Founded in 2011 by Jeff Grad, Equitable Value provides valuation, property tax, and assessment management services to commercial property owners and occupiers.
Top 10 construction project starts
The accompanying table records the 10 largest construction project starts in Canada in December 2023. Also included is the latest trend graph on starts. This looks at 12-month moving totals of the civil and non-residential building categories in Canada.
Bad Boy fails to file restructuring plan
Bad Boy is officially bankrupt. The furniture and electronics chain, founded by former Toronto mayor Mel Lastman, was declared bankrupt Wednesday, according to a statement on the website of bankruptcy trustee KSV Advisory.
PriceSmart Foods to open new store in Burnaby
Pattison Food Group-owned Asian grocer PriceSmart Foods has opened its doors in Burnaby. The Lougheed store, located at 9899 Austin Road, is PriceSmart Foods' third location and the first to open since 2016.
Small stores proving popular: Léger
In this period when store visits are affected by rising prices, the size of the store and the quality of service can greatly influence the appreciation of the shopping experience, as evidenced by the Wow study by Léger.
Calgary to look at rebate aimed at offsetting tax hike
City council will discuss a proposed rebate next week that aims to reduce the 2024 property tax hike for Calgary homeowners. Last fall, council passed a 7.8 per cent residential property tax increase for this year.
Real estate values bottoming out: Blackstone president
VIDEO: Blackstone Inc. president Jon Gray says real estate values are bottoming out. He also says there needs to be an emphasis on creating more housing supply. Gray speaks to Bloomberg's Sonali Basak.
Sterling Bay JV building Miami office tower
Chicago developer Sterling Bay is teaming up with Key International to build a 51-storey office tower in Miami’s financial district, Brickell. The nearly 800,000-square-foot building at 848 Brickell Ave. will have sports courts and fireplace lounges.
Dallas retains top spot for U.S. CRE investment in 2023
For the third year in a row, Dallas-Fort Worth nabbed the nation's top spot for CRE transactions despite experiencing a massive drop in annual volume. Nearly $19B of DFW commercial real estate traded hands in 2023, down 58% year-over-year,.
TikTok accelerates real estate expansion
Social media titan TikTok is planning to enlarge its physical footprint in the U.S. by hundreds of thousands of square feet of leased space in the Silicon Valley, the greater Seattle area and Nashville, bucking the tech industry’s larger retreat.
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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