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Starlight updates ambitious apartment development plans
Starlight updates ambitious apartment development plans
Starlight Investments is pushing forward with multifamily developments large and small as the Toronto-based firm acts on a year-old pledge to accelerate construction in the sector.
Primaris to acquire Les Galeries de la Capitale mall for $325M
UPDATED: Enclosed shopping centre specialist Primaris REIT (PMZ-UN-T) has an agreement to acquire the million-square-foot Les Galeries de la Capitale in Quebec City for $325 million in one of the largest retail transactions in the country this year.
Live Nation to build concert venue at Downsview
Live Nation Canada announced it’s constructing Toronto’s largest purpose-built outdoor concert venue at YZD, the former Downsview Airport lands. The open-air facility, with capacity for 50,000 attendees, is expected to operate for five years before the site is developed.
Poloz hears ideas to grow pension investments in Canada
Former Bank of Canada governor Stephen Poloz is examining ideas to get the country’s pension funds to increase investment in the domestic economy – including the creation of a pooled fund that would make dealmaking easier.
HOOPP president & CEO Wendling announces retirement
Jeff Wendling, president & CEO of the Healthcare of Ontario Pension Plan (HOOPP), has announced he will be retiring in 2025, after more than a quarter of a century with the organization.
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Developers becoming less than enthused about mega-towers
A developer has received the green light from the City of Burnaby to build two towers that will soar above the Lougheed Highway corridor. But the 80- and 72-storey highrises are not necessarily an indicator of things to come, observers say.
Plan for four towers in Oakville draws opposition
A plan from developer Northbridge to build four high-rise towers just west of the Bronte GO station is being greeted with opposition by the Bronte Village Residents Association. The proposal would see the six-acre property redeveloped into four mixed-use towers.
Hullmark's 450 Dufferin proposes rental housing in Brockton
Hullmark is looking to bring much-needed rental housing to Brockton Village with its redesigned development at 450 Dufferin St. Situated at Dufferin and Alma Avenue, this proposed 18-storey mixed-use building designed by superkül also embraces sustainable building practices.
11-storey Burlington building would replace homes, offices
A proposed redevelopment along one of Burlington’s thoroughfares could see some homes and a dental office replaced by a mid-rise condominium building. Proposed by the Goldberg Group, the plan calls for an 11-storey mixed-use building with 150 residential units.
Waterloo will automatically permit buidings up to 30 storeys
Waterloo city council intends to make the city even taller by giving developers an automatic right to build 30-storey towers within 800 metres of certain transit stations - that’s roughly five storeys higher than is automatically permitted today.
Housing starts up in six big cities, but supply gap remains
The Canada Mortgage and Housing Corp. says construction of new homes in Canada’s six largest cities rose four per cent year-over-year during the first half of 2024, but housing starts were still not enough to meet growing demand.
Waterworks Food Hall is Toronto’s latest culinary destination
In a soaring heritage building in King West, one of Toronto’s most exciting urban neighbourhoods, Waterworks Food Hall has become a culinary destination offering a memorable and unique food experience.
Court approves $1.7B Sleep Country sale to Fairfax Financial
The sale of Sleep Country Canada Holdings to Fairfax Financial Holdings has received final court approval. The $1.7-billion deal will see Fairfax acquire all issued and outstanding common shares of Sleep Country for $35 per share.
Ont. builders press for action on development fees, timelines
The Residential Construction Council of Ontario is encouraging all levels of government to push for immediate action to lower taxes, fees, levies and development charges on new housing and speed-up approval times for developments.
Capital gains, REITs under fire in housing affordability report
The corporate quest for profit via real estate holdings is exacerbating Canada’s rental affordability crisis, according to a report from Canadians for Tax Fairness. The report, released earlier this week, blamed capital gains and residential real estate investment trust tax policies for “financializing” housing.
Hanover, Northwestern kick off 1.7M sq. ft. Maryland campus
A joint venture between Hanover Co. and multiple institutional investors advised by Northwestern Mutual Real Estate has broken ground on Frederick Airport Park, a 118-acre, 1.7 million-square-foot campus in Frederick, Maryland.
More old Wall Street offices slated for apartment conversion
Manhattan-based Vanbarton Group is under contract to buy 77 Water St. with plans to convert the lower Manhattan property to apartments. Vanbarton agreed to pay roughly $95M for the 26-storey tower.
Ritzy Deer Valley ski resort to double in size, add hotels
When Deer Valley opens for the season, visitors to the resort in Park City, Utah, will have 316 new acres of terrain to carve down, including 19 new trails and three new chairlifts. There is 2,500 more acres to come.
Over 80% of CEOs think hybrid work will be dead within 3 years
Office usage across the 10 largest U.S. metro areas is still at roughly 60.5 per cent of prepandemic levels, according to Kastle Systems’ keycard swipe data. But most CEOs think the era of remote work is coming to an end.
Industry Events
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Quebec City Real Estate Forum
Oct 16 2024
Quebec City Convention Centre
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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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