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BAZIS buys midtown T.O. plaza, plans high-rise

3 years ago

BAZIS has acquired a midtown Toronto strip mall property from an unnamed private vendor in a $37-million off-market deal. It plans to redevelop the site with a 35-storey mixed-use residential tower, including retail/commercial tenants at grade.

HILO is a software-as-a-service platform enabling property operators and tenants to create connected, engaged and informed building communities. After spending much of 2020 improving its offering during the early stages of the pandemic, the Toronto-based firm is growing again.

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Halifax and West Community Council have approved a development permit for the Rouvalis family’s 28- and 29-storey mixed-use tower project, which has been branded The Promenade. The towers will feature 577 residential units and commercial space on the ground floor.

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Construction has started on Uxborough, Western Securities‘ mixed-use redevelopment covering 6.53 acres in Calgary. The $400-million project will include a 146,000-square-foot office tower, a hotel tower and a 14-storey apartment tower offering 203 units above a retail base.

Infill Development Site in Brampton

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SmartCentres REIT (SRU-UN-T) wants to build 22 three-storey residential buildings at 1235 Fanshawe Park Rd., a property surrounded by big box stores and chain restaurants in northwest London. The proposal includes nearly 150 townhomes on the lot.

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Cadillac Fairview has unveiled CF Marché des Promenades at Montreal’s CF Promenades St-Bruno. The 130,000-square-foot space includes more than 40 artisans, food producers and restaurateurs and represents a $70-million investment.

Gerald Tostowaryk, CRE Broker, Edmonton

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Vancouver’s Cressey Development Group is expecting a quick pre-sale sell-out of an uber luxury 127-unit mixed-use waterfront project in downtown Kelowna, and developers are bidding serviced land in the city to above-appraised prices, local agents say.

Romspen

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The Residential Construction Council of Ontario (RESCON) say it is disappointed at an Ontario Divisional Court ruling which indicates that the provincial government erred in failing to consult the public on changes to Ministerial Zoning Orders, or MZOs.

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Eighteen months into the pandemic, Assent Compliance continues to grow, but still has not moved from its original Ottawa office. After surveying employees, executive Keira Torkko said the company realized they did not need more space – they needed a new approach.

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A number of Toronto-Dominion Bank employees rolled up their sleeves and took to their keyboards this summer to protest the company’s participation in the #ThisisOurShot vaccine campaign.

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With B.C.’s spiking COVID case numbers scuttling the province’s plan for a full Step 4 reopening by Sept. 7, many Metro Vancouver businesses that had intended to bring workers back to the office this fall have scrapped those plans.

Panattoni

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KG Group has proposed two 18-storey residential towers connected by a terraced podium at 10 Oakburn Cres. in Willowdale. The Kirkor Architects & Planners-designed towers would include 452 purpose-built rental apartments in a mix of 248 one-bedroom (55%), 159 two-bedroom (35%), and 45 three-bedroom (10%) units.

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An Ottawa-based medical equipment supplier with outlets across Canada has been sold to a U.S. company. Canada Care Medical Group, which has 10 locations in Eastern Canada, was acquired by Nashville-based National Seating & Mobility. Terms were not disclosed.

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Masks are back at Citigroup, and Bank of America workers still have to keep their distance in conference rooms. At JPMorgan, investment bankers and traders can no longer blow off steam at the Monkey Bar that closed during the pandemic.

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Google has been studying the hybrid workplace to identify improvements to its Workspace productivity suite that can support a hybrid work culture. This week, it introduced several new features designed to improve interactions between on-site and remote employees.

Cogir

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Council Wednesday overwhelmingly approved an official plan amendment and “social contract,” allowing Hazelview to build a high-density rental project at a 52-acre site in Heron Gate, but some councillors thought Ottawa could have inked a better deal for affordable housing.

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Many in B.C. may be paying more for rent next year, as the province announces it’s lifting the rent freeze introduced during the pandemic. The maximum allowable rent increase amount for 2022 will be set at 1.5 per cent, based on inflation.

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Greater Victoria is bucking a national construction trend. While the national value of building permits dropped almost four per cent to $9.9 billion, the value of permits in the Victoria Census Metropolitan Area rose by almost 27 per cent to some $202 million.

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Some residents claim a proposed a 18-storey mixed-use rental building at Queen Street East and Coxwell Avenue threatens the character of Toronto’s idyllic Beach neighbourhood. The development, which would boast more than 100 affordable rental units, is badly needed.

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