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True North buys Markham, Calgary office properties
True North buys Markham, Calgary office properties
True North Commercial REIT (TNT-UN-T) says it has an agreement to acquire the 209,400-square-foot ATB Westwinds office campus in Calgary, and a state-of-the-art TOBY award-winning office complex just north of Toronto for a total of $190.5 million.
Supply imbalance persists, despite Ottawa multires boom
CMHC offered a rather dry commentary on Ottawa’s record multiresidential boom in its most recent report, noting rising home prices are “skewing demand toward less expensive housing types.” Experts at the Ottawa Real Estate Forum called the building “incredible.”
Blackwood Surrey project could include 10 towers
As many as 10 towers could be added to Central City shopping mall in Surrey for the property’s eventual redevelopment. Blackwood Partners’ detailed plans include a new 25-storey office tower with 567,000 square feet of class-AAA office space.
Vancouver leasing office space at Broadway and Cambie
The City of Vancouver has leased more office space outside of the City Hall campus for its growing workspace needs. The government confirmed it has leased 43,400 square feet of office space at the under-construction, seven-storey commercial building at 510 West Broadway.
Ford government eyes sales of unused buildings
The Ontario government plans to sell unused properties, cut down on office space and is compiling an “inventory” of school board and post-secondary buildings in a bid to find savings.
Court rejects Clublink’s Glen Abbey redevelopment
• Globe and Mail (Sub. required)
In a Wednesday decision, Ontario’s Court of Appeal restored five bylaws the Town of Oakville had passed to thwart Clublink Corporation’s plans to redevelopment the storied Glen Abbey Golf Club. A judge had ruled in December the bylaws were invalid.
Costco to anchor Calgary F.N. shopping complex
• Calgary Herald • CBC
Costco’s (COST-Q) first-ever store on First Nation land is coming to the Tsuut’ina Nation next summer, it was announced Wednesday. The big-box shop is set to be the anchor tenant at the under-construction 400,000-square-foot development called Taza.
Not enough on competitiveness during election
VIDEO: Goldy Hyder, president and CEO of the Business Council of Canada, joins BNN Bloomberg to highlight how the federal election touched on issues of Canada’s competitiveness.
New Horizon Mall ‘going in the right direction’
• Calgary Herald • CBC • RENX
Toronto-based The Torgan Group, the developer behind the New Horizon Mall north of Calgary, said Wednesday the massive shopping centre is “going in the right direction,” in spite of the fact the space is still mostly empty.
Delta gives downtown Calgary Marriott a makeover
Walk into the lobby of Delta Hotel’s Marriott in downtown Calgary, and you’ll find décor and design suited to an upscale Calgary home. This is the first complete makeover undertaken by Delta in more than a decade.
Winnipeg plays hardball over Shaw Park lease
• CBC • Global News
The City of Winnipeg’s civil service is recommending a tough stance over a new lease for Shaw Park, the stadium where ex-mayor Sam Katz’s Goldeyes baseball team plays. The new terms include a rise in rent — from $1 a year to $150,000.
Block on 4th coming to Calgary’s restaurant row
The Block on 4th, a project of InDevelopments that will provide 24 one-bedroom and 15 two-bedroom rental units above 8,700 square feet of new retail space, is coming to Calgary’s restaurant row. 4th Street boasts dining establishments from countries around the world.
Granite increases bought deal equity offering to $256M
• Globe Newswire • RENX
Toronto-based Granite REIT (GRT-UN-T) announced that due to strong demand, the size of its equity offering has increased, on a bought deal basis, to 4,000,000 stapled units at a price of $64 per unit for gross proceeds of approximately $256 million.
Sobeys unveils the first intelligent grocery shopping cart
• Canada Newswire • Financial Post • CBC
Sobeys (EMP-A-T) is bringing the first intelligent shopping cart to Canadian grocery stores with the launch of the Sobeys Smart Cart, an innovative technology-enhanced shopping cart that provides customers with a highly engaging, fun and fast way to shop.
Workers remove top section of collapsed crane
• Global News • CTV
Workers have successfully removed the section of the main tower of a collapsed crane in Halifax, with officials estimating it will take another eight working days to remove the rest of the crane.
SNC-Lavalin soars as election uncertainty eases
• CBC • Financial Post • Globe and Mail (Sub. required)
Shares of SNC-Lavalin Group Inc. (SNC-T) surged amid optimism Justin Trudeau’s election win may pave the way forward for the embattled engineering firm. Montreal-based SNC jumped as much as 12 per cent, the most since Sept. 10.
Starts to stabilize, prices to recover: CMHC
CMHC’s national housing outlook calls for housing starts to stabilize over the next two years following two years of declines. The 2020 Housing Market Outlook also forecasts income and population growth will support a rebound in home sales and prices.
Tarion improves protection for new homebuyers
• Globe Newswire • Toronto Star
Tarion announced new measures that will help educate and inform prospective homebuyers. These measures include new search tools on Tarion’s Ontario Builder Directory and a new detailed information sheet highlighting the potential risks of purchasing certain types of pre-construction condominiums.
Vancouver homebuyers get the green light
• Globe and Mail (Sub. required) • Vancouver Province
A year ago, expectations were high that the Vancouver-area housing market was in for a major correction. The provincial taxes aimed at cooling speculation had gone into effect and interest rates were expected to climb. That forecasting now looks hyperbolic.
Speculation tax court battle may be brewing
A Vancouver Island man who disputed government collection of personal information for B.C.’s speculation tax says he’d like a judicial review of the privacy commissioner’s approval of that collection.
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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