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Epic retrofits Sherbourne Estates apts. without reno-victions
Epic retrofits Sherbourne Estates apts. without reno-victions
To better position a pair of 50-year-old downtown Toronto apartment towers, Epic Investment Services oversaw an extensive retrofit to provide major building upgrades and make the towers more environmentally friendly. It did so without having to evict existing residents.
Ottawa Zibi keeps growing: Two new res towers to lease up
Dream Unlimited (DRM-T) and Dream Impact Trust (MPCT.UN-T) are set to launch leasing for the latest multiresidential tower at their 34-acre Zibi development in the cities of Ottawa and Gatineau.
Caisse looks to tackle student housing with 1,000-bed dev.
The Caisse de dépôt, the Quebec government and the Société québécoise des infrastructures have reached an agreement in principle to conduct a feasibility study on the conversion of six buildings on Montreal's former Royal Victoria campus into student residences.
There are no rules for selling gov't real estate in Quebec
Quebec regulates the awarding of public contracts, but it imposes no laws, no rules and no standards for the sale of government-owned real estate, an examination by the Montreal Gazette has found.
Mondi buying Alberta pulp mill, plans $585M expansion
Mondi Group says it's paying $6.64M for the Hinton, Alta. mill and plans invest $585M to expand the facility. It plans to add a 200,000-tonne-per-year kraft paper machine it expects to be operational in 2027.
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Downtown Edmonton office vacancy grows to 24 per cent
The office vacancy rate in downtown Edmonton rose to 24.1 per cent in Q2, up from 23.5 per cent in the first quarter. By comparison, downtown vacancy was 15.8 per cent in Toronto and 11.5 per cent in Vancouver.
True North closes on sale of Ottawa office building
True North Commercial REIT (TNT-UN-T) says it has completed the previously announced sale of a recently vacated 107,100 square foot office property located at 360 Laurier Ave. W. in Ottawa for $17.5M, excluding transaction costs.
Half of Cdn. small businesses affected by B.C. ports strike
More than half of business owners (53 per cent) say the strike at the Port of Vancouver will affect their operations, according to preliminary survey results from the Canadian Federation of Independent Business.
Giant Tiger founder Gordon Reid dies at 89
Gordon Reid, the pioneering businessman who founded discount chain Giant Tiger and built it into one of Canada’s most successful and recognizable retail brands, has died. Reid passed away peacefully at home on Saturday after a brief illness.
Former Vancouver Sears now a massive indoor bike park
The North Shore Bike Park at Capilano Mall is located in the former Sears store, which closed in January 2018. And it may point to a wider trend of malls diversifying from traditional retail shops to recreation space.
Transat sells Mexico property for over $50 million
Transat AT Inc. (TRZ-T) says it sold a piece of land in Mexico to resort company Finest Resorts. Transat says the sale is part of its plan to focus on its airline business after more than three years of losses.
U.S. CRE investment plummets 70 per cent in Q1
Green Street has published a new report stating that first-quarter sales volume dropped 70 per cent year-over-year across all four of the core sectors – office, industrial, apartments and retail – as property values continue to erode.
New high set for Manhattan office vacancy
Manhattan’s overall availability hit a record high in Q2, reaching roughly 96.4 million square feet, a 78.9 per cent increase since March 2020, according to Colliers. New construction, major renovations and scheduled vacancies contributed to the increase in vacancy.
Office buildings aren't even selling as distressed assets
Only $5M worth of U.S. office buildings were sold out of foreclosure in the first five months of this year, a microscopic figure compared to the $236M in foreclosure sales conducted last year.
Lincoln Property Company acquires RiverRock
Lincoln Property Company, a global, full-service real estate firm, announced today the acquisition of RiverRock Real Estate Group, an Irvine, California-based property and asset management firm. The deal adds more than 50 million square feet to Lincoln’s property management portfolio.
Canada, Quebec announce $308M for affordable homes
The funds will go toward homes intended for vulnerable populations including but not limited to women and children fleeing violence, people who are homeless, seniors, veterans, recent immigrants, refugees, people with disabilities, black Canadians, and Indigenous peoples.
As housing costs soar, some financial analysts want to scrap 30% rule
If you've ever applied for social housing or a mortgage, you've probably come across this figure: 30 per cent. That's the often-touted maximum percentage of your income you should spend on a home. But is that number still realistic?
Vancouver condo sales soar 175 per cent in six months
A total of 1,573 condos sold in June, which was more than the combined sales of detached houses and townhouses, and the benchmark price of a condo reached $767,000, up $47,000 since the start of the year.
Strangers are pooling money to buy Vancouver houses
It’s common for generations of families to live together in one house. But there is a budding trend in Metro Vancouver of strangers pooling money to buy real estate, according to the man behind the Collaborative Home Ownership website.
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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