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Harhay launches 9HUNDRED, a 4-tower Toronto multires project
Harhay launches 9HUNDRED, a 4-tower T.O. multires project
Harhay Developments believes, despite higher interest rates, there is still demand for housing in Toronto. It will help fill that need with the launch of sales for its latest project in the west end, 9HUNDRED Signature Residences.
Why NYX Capital sold its $310M self-storage portfolio
After making Canada’s largest self-storage portfolio sale thus far in 2023, the CEO of NYX Capital Corp. says his company is not completely exiting the sector.
Vancouver’s Norquay Village sees development surge
Developers are turning their attention to Norquay Village, a particular stretch of Kingsway, one of the longest and busiest thoroughfares in the Lower Mainland. Various mixed-use developments are either recently completed, under construction or staged for future development.
CPP JV defaults on $465M Greenway Plaza loan
The CPP Investments joint venture that owns Greenway Plaza, a 4.5 million-square-foot office complex in Houston, is no longer able to perform under the forbearance agreement it reached last year after its $465M loan reached maturity default, says Trepp.
Castlepoint to develop Ont. agricultural housing project
Castlepoint Numa is breaking a 10-year pause on greenfield development to build a residential farm condominium community in Thornbury, Ont., to satisfy rising demand for sustainable living.
Dream, Great Gulf advance ambitious plan for Quayside
Co-developers Dream Unlimited Corp. and Great Gulf Group, who won the RFP to develop the area from Waterfront Toronto, have submitted zoning by-law mendment applications for all five blocks of the Bayside mixed-use community.
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Canadian CRE investment remains slow: Altus Group
Altus Group’s Canadian Investment Trends Survey released last week reveals the overall capitalization rate for the four main CRE asset classes rose to 5.62 per cent in Q2 2023, from 5.47 per cent in Q1 2023.
Calgary building permit gains offset Alberta declines
Calgary was the clear star as Statistics Canada released its monthly building permits this week, with the value of issued permits rising to offset declines elsewhere in Alberta. The robust activity was attributable largely to residential permits.
Software company moves engineering hub to Calgary
Silicon Valley software company Teknol has chosen Calgary to set up its engineering headquarters with a $12.5-million investment over the next three years that’s expected to generate 125 jobs.
American pool-maker completes 160K-sq.-ft. Ont. facility
About 18 months after breaking ground, Latham, N.Y.-based Latham Group Inc. has completed its newest manufacturing facility near Kingston. The 160,000-square-foot facility is situated on a 148-acre site in Loyalist Township.
HBC to close store in Burlington
Hudson’s Bay will be shutting its store at the Burlington Centre in Burlington next year and its Zellers shop-in-store will relocate to the Hudson’s Bay store at the Bramalea City Centre as a result.
Demand for U.S. office space could fall 13% by 2030
The office real estate market is already grim. And despite bosses’ efforts to draw people back to the office, it’s going to remain gloomy, even in projections that are more moderate, warns a new report from McKinsey Global Institute.
Manhattan office market's tough outlook persists
The end of the pandemic has brought little relief to Manhattan's depressed market for workspace, where empty floors remain the norm and by one calculation the values of 45% of the city's office buildings are below their last sale price.
Rents rising in Manhattan’s retail corridors
Asking rents for retail space in Manhattan's prime corridors rose for the fourth consecutive quarter in the three months ending in June, according to CBRE, while availabilities the brokerage tracks registered at 2.9 per cent.
Zara founder Ortega buys U.S. warehouse for $109 million
Amancio Ortega, the founder of Zara-owner Inditex, has bought a warehouse in Los Angeles for $109 million as part of a continued drive to invest in logistics real estate in the U.S., his investment firm Pontegadea said on Wednesday.
Canadian rental average asking price hits record high
A new Rentals.ca report says the average asking price for a rental unit in Canada reached a record $2,042 last month amid continued interest rate hikes, population expansion and low unemployment.
Variable-rate mortgage borrowers under pressure again
Mortgage holders face a growing crisis following a rate hike Wednesday that saw the key interest rate jump to five per cent — a steep rise from the 0.25 per cent overnight rate Canada had a year and a half ago.
Average home price down 0.7% Y-O-Y: Royal LePage
According to the Royal LePage House Price Survey released today, the aggregate price of a home in Canada decreased modestly by 0.7 per cent year-over-year to $809,200 in Q2 2023.
Vancouver's short-term rental rules increasingly broken
The City of Vancouver’s regulations for short-term rental housing have been in place since 2018, but there are questions about how they are being enforced. The number of renters flouting the bylaw seems to be rising, according to city statistics.
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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