Edmonton’s 1932 by Bateman ‘legacy’ development

RENX  Residential  •  Condominiums  •  Edmonton

The name of the condos which will rise in Edmonton’s Strathcona neighbourhood sums up the story: 1932 by Bateman. In 1932, Mike Bateman’s grandfather started as a butcher at 99th Street and 89th Avenue, growing it into a chain of Bateman IGAs.

RioCan acquires 50% interest in T.O. office building

Commercial  •  Globe Newswire  •  RENX

RioCan REIT (REI-UN-T) today announced the acquisition of a 50 per cent co-ownership interest in Toronto’s 2323 Yonge St. for $27.1 million. The property, an eight-storey class-B office building with 67,400 square feet of commercial space, is co-owned with Streamliner Properties Inc.

PCI proposes Vancouver office building

Commercial  •  Vancouver Courier

PCI Developments has filed a development permit application for 1465 to 1489 West Broadway for a five-storey mixed-used building with an entrance on the southwest corner of the Vancouver site for one of the stops on the Broadway subway extension.

T.O. developer calls Baker’s HBC offer ‘inadequate’

Commercial  •  Financial Post  •  Reuters  •  Globe Newswire

Toronto’s Paradise Developments is asking the special committee of the HBC (HBC-T) board to get an appraisal of the retailer’s “incredibly valuable” real estate and take other measures “to ensure that minority shareholders receive fair value for their investment.”

WeWork in a ‘precarious’ position: Fitch

Commercial  •  La Presse  •  Bloomberg  •  Bloomberg

Fitch anticipates a “significant reduction” in reeling WeWork‘s growth ambitions and spending, which has led the company to a “precarious” financial position. Fitch warns customers’ reluctance to sign agreements, particularly businesses, could potentially harm WeWork’s future business.

GWLRA survey creates office tenant wish list

Commercial  •  Sustainable Biz Canada

Canadian office tenants want more food options, more fresh air and easier access to fitness and wellness, according to an internal survey by one of the country’s largest office providers, GWL Realty Advisors.

The Saskatchewan Edge › How does the option to renew in my lease work?

Barry Stuart: Managing Partner and Senior Sales Associate , ICR Commercial Real Estate

Quebec retailers ‘crushed’ by Amazon

Commercial  •  La Presse

American giant Amazon accounts for 17 per cent of online purchases of Quebecers. On the other hand, retailers in Quebec generally out of the box, only one, Simons, appearing in the top 10 most popular sites.

T.O. wants to take back Queen West market

Commercial  •  CBC

Queen Street West is always bustling — so why is a city-owned marketplace on one of Toronto’s main strips sitting vacant? Toronto’s legal team has filed an application in Ontario’s Superior Court to terminate the current tenant’s lease on the building.

Toronto announces 2019 Urban Design Award winners

Residential, Commercial  •  Daily Commercial News

The City of Toronto held its annual Toronto Urban Design Awards Sept. 10, presenting nine projects for Awards of Excellence, 12 for Awards of Merit and one for the Special Jury Award.

N.S. renews emergency order for Halifax crane removal

Commercial  •  Global News  •  Halifax ChronicleHerald  •  CBC

The Nova Scotia government Wednesday renewed the localized state of emergency in the area surrounding a crane that collapsed during hurricane Dorian in early September. The province says this is to ensure the safety of those in the area.

Tricon announces early release of share lock-up

Residential, Commercial  •  Canada Newswire

Tricon Capital Group Inc. (TCN-T) announced its board of directors has approved the early removal of the transfer restrictions currently in place on common shares issued as part of Tricon’s acquisition of Starlight U.S. Multi-family (No.5) Core Fund.

MTY acquires majority interest in three dining chains

Commercial  •  Canada Newswire

MTY Food Group Inc. (MTY-T) announced today one of its wholly owned subsidiaries has signed an agreement to acquire a 70 per cent  interest in Turtle’s Jack’s Muskoka Grill, COOP Wicked Chicken and Frat’s Cucina, three Ontario casual dining concepts.

Blackstone strikes $2.9B deal for Great Wolf Resorts

Commercial  •  CP Executive  •  IPE Real Assets  •  Business Wire

A Blackstone (BX-N) affiliate, Blackstone Real Estate Partners IX, is acquiring a 65 per cent controlling interest in Great Wolf Resorts Inc., from current owner Centerbridge Partners LP. The deal calls for Blackstone and Centerbridge to form a $2.9-billion joint venture.

Medical offices filling U.S. space vacated by retail

Residential, Commercial  •  Building Design & Construction

The 1.2 million-square-foot Rosedale Center in Roseville, Minn., recently disclosed its plans for a $100-million-plus expansion that will add a hotel, grocery, multifamily housing, fitness centres, restaurants, co-working spaces, more retail and a medical office building.

Chicago’s recipe for a better neighbourhood

Residential, Commercial  •  Globe and Mail (Sub. required)

You can’t miss it. The six-storey building is the tallest thing on its north-side Chicago block, and it grabs your eye with colour: dashes of purple, blue, red, turquoise, orange and a limey green run across its aluminum façade.

Altus, CREA announce first national housing index

Residential  •  Globe Newswire

Altus Group Limited (AIF-T), together with The Canadian Real Estate Association and the founding boards, including the Greater Vancouver Real Estate Board, announced the broadening of their partnership to expand CREA’s Multiple Listing Service Home Price Index nationally.

Critics slam arbitration in new home purchase contracts

Residential  •  Globe and Mail (Sub. required)

A recent ruling by an Ontario court blocking a joint lawsuit by consumers who signed contracts for preconstruction homes highlights the ways the ancient Latin legal advice “caveat emptor” (“let the buyer beware”) remains all too relevant in 2019.

GTA rental market up 17.3 per cent YOY

Residential  •  Globe Newswire  •  Globe Newswire  •  CBC

Toronto Real Estate Board president Michael Collins announced that Greater Toronto Area REALTORS reported 10,800 condominium apartment rentals through TREB’s MLS System in the third quarter of 2019. This result was up by 17.3 per cent compared to the third quarter of 2018.

Toronto, Vancouver home sales surge

Residential  •  Globe and Mail (Sub. required)  •  Global News  •  CityNews

Sales of all home types climbed by 22 per cent year-over-year in the Greater Toronto Area in September, with prices rising the most in 21 month. In Greater Vancouver, sales roared ahead by 46 per cent year-over-year.