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Vancouver, Victoria have the lowest office vacancy rates in Canada
Vancouver, Victoria have the lowest office vacancy rates
The office markets in British Columbia’s two largest cities have the lowest vacancy rates in the country among major centres, according to a recent report, National Market Snapshot Q3 2023, by Colliers Canada.
Podium's second GEO apt. underway in Kingston, Ont.
Ground has been broken on GEO at 485 Albert, a new purpose-built rental building in Kingston, Ont., that will complement another Podium Development Corp. apartment project in the same area.
76-building mixed-use project proposed in Mississauga
Rangeview Landowners Group - composed of nine diverse landowners including Dream Unlimited (DRM-T) - have proposed a 76-building mixed-use redevelopment proposal in Mississauga. Rangeview would feature 592 low-rise, 3,654 mid-rise and 1,054 high-rise residential units in addition to retail.
Return to office: Essential for the vibrancy of city centres
GUEST COLUMN BY IDU QUEBEC: Movie buffs are flocking to theatres, vacationers are rushing to airports and people are attending events just like “before.” It would make sense then to believe this vibrancy would restore balance in the urban areas.
Greenbelt flip-flop could cost taxpayers: Lawyers
The Ontario government's sudden reversal on opening up parts of the Greenbelt for development could result in damages. "I don't think apologies go far enough. I think developers are interested in making money and building homes," lawyer Tim Gilbert said.
Weston Place breaks new ground for Darwin
The Weston Place condominium development is a complete change of pace for Darwin Properties both in terms of where it builds and the types of housing it develops - in West Vancouver as a multifamily condo.
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B.C. set to digitize building permit process
The B.C. government is digitizing the building permitting process, moving away from paper-based applications in an effort to speed up housing production and also to assess files to ensure plans meet the B.C. Building Code, a statement said.
Couche-Tard eyes bigger profits and more M&A
Alimentation Couche-Tard Inc. (ATD-T) is setting ambitious new profit targets for the next five years as it pushes to exploit its growing size and find new cost-saving opportunities to deliver returns in an increasingly shaky market for consumer retailing.
First supermarket since 1999 coming to Gatineau
A new grocery store is coming to Hull next spring, the first supermarket to open in the downtown Gatineau, Que., neighbourhood in more than two decades. Independent grocer Saveurs is set to open in May 2024 in a condominium building.
Loewe to open first standalone Canadian storefront
LVMH-owned Spanish luxury brand Loewe is building its first standalone Canadian storefront at Toronto’s Yorkdale Shopping Centre. The brand entered Canada wholesale several years ago and is said to have rapidly gained market share and consumer dollars.
Pretzelmaker to open 25 Canadian locations
FAT (Fresh. Authentic. Tasty.) Brands Inc., parent company of Pretzelmaker and 17 other restaurant concepts, today announced a development deal to open 25 new franchised locations in Canada in partnership with Canadian Cookie Enterprises, Inc. over the next 10 years.
Tower-in-the-Park infill rises at 666 Spadina
An 11-storey infill project designed by Arcadis for Cromwell Property Management is replacing the green space south of the 1972-built Spadina Towers rental apartment building at 666 Spadina Ave. in downtown Toronto.
Van. residents spend 51.75% of income on rent
Canadian rental website liv.rent's October report indicates Metro Vancouver residents spend 51.75% of their monthly income on rent even though the average monthly rent for a one-bedroom unfurnished unit has decreased by $32 following six consecutive month-to-month increases.
Airbnb not behind rent increases: Conference Board
Rents in Canada have gone up, along with the growth of Airbnb businesses, but there’s little evidence that the two are connected, a new survey from the Conference Board of Canada finds.
Investors waiting to deploy billions in dry powder
As transaction volumes for 2023 remain low — down 70 per cent year-over-year in the first quarter, according to Green Street — and interest rates remain high, many commercial real estate investors, including those with opportunistic funds, are sitting on the sidelines.
Office owners will soon face millions in added costs
In recent weeks, it has become increasingly clear interest rates are going to remain high for longer than most CRE owners initially expected and they are going to be forced to pay millions in additional expenses as a result.
U.S. banks grapple with worst write-offs in 3 years
The biggest U.S. banks are poised to write off more bad loans than they have since the pandemic's early days as consumers struggle to keep up with rising interest rates and the CRE industry grapples with COVID fallout.
HSBC to review global real estate footprint
Banking giant HSBC Holdings is beginning a worldwide review of its office and retail footprint as part of its effort to cut costs and otherwise streamline operations, React News reports. The bank occupies about 3,000 properties in 62 countries.
Palo Alto office building trades for $2K per sq. ft.
A Palo Alto, Calif., office building owned by Kenson Ventures sold to the Douglas Living Trust for almost $2,000 per square foot, a purchase price nearly five times greater than that of the priciest Q3 deal in the market.
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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