Edenshaw, Windsor Capital buy high-density GTA land

RENX  Residential, Commercial  •  Condominiums  •  Toronto / GTA

Edenshaw Developments has partnered with Windsor Private Capital to acquire a prime transit-oriented development site in what might be called Edenshaw’s own backyard . . . at the Metrolinx Port Credit Mobility Hub in Mississauga.

RioCan Living expands scope, develops Verge condos

RENX  Residential  •  Apartments, Condominiums  •  Toronto / GTA

RioCan Living will launch sales of Verge Condos, its first condominium project without a development partner, in Toronto in August. RioCan acquired the site at the southwest corner of The Queensway and Islington Avenue in Etobicoke in 2010.

Bosa, Army & Navy partner on Van. mixed-use

Residential, Commercial  •  Vancouver Sun  •  RENX

Bosa Properties and Army & Navy are partnering on The Cohen Block, a redevelopment of the latter’s flagship department store property in Vancouver’s Downtown Eastside. The Michael Green Architecture-designed project envisions rental housing, along with retail and office space.

T.O. businesses pulling back on sublet space: AY

Commercial  •  CP 24

According to Avison Young, some Toronto businesses that were trying to shed downtown office space on the sublet market are reversing course. Available sublet space fell for the first time in six quarters, ending Q2 at 3.1 million square feet.

Victoria marina CBRE’s latest ‘special’ property sale

Commercial  •  Globe and Mail  •  Victoria Times Colonist

CBRE, the same company that sold North Vancouver’s Grouse Mountain, has listed the $35-million Victoria International Marina. Special-purpose or limited-market properties are often too unique for market research and analysis. “That’s why they’re called ‘special,’ ” says CBRE’s Tony Quattrin.

Canadian banks embracing flexible working

Commercial  •  Globe and Mail (Sub. required)

Canada’s big banks are embracing flexible working arrangements as they plot a broad return to offices this fall, emphasizing to staff that hybrid work is here to stay – but so are bustling offices.

Sponsored by Trez Capital Trez Capital launching Build-to-Hold strategy fund to fulfill investor demand

Trez Capital is a multibillion-dollar lender that contributes to investors’ financial success by providing a source of stable income through custom real estate financings, with approximately $4 billion in assets under management (including mortgages, loans and equity investments).

Edmonton office building earns ENERGY STAR award

Commercial  •  Sustainable Biz Canada

The Commerce South Office Park – Building B in Edmonton, which has implemented numerous energy-efficient initiatives over the years, is the winner of the Commercial Building of the Year of the 2021 ENERGY STAR Canada Awards.

Affordable housing shortage costs GTA $8B annually

Residential  •  Toronto Star  •  Toronto Star

A Prism Economics and Analysis report for the Toronto Region Board of Trade and WoodGreen Community Services has put a $6 billion to $8 billion annual price tag on the regional shortage of affordable housing for the workers the city relies on.

$500M-plus earmarked for Hamilton’s public transit

Commercial  •  Global News  •  CBC

Hamilton’s public transit system is set to get a $500-million boost from three levels of government, which are set to splash cash to add buses, a new maintenance and storage facility, technology and infrastructure replacement.

12-storey mixed-use proposed for uptown Saint John

Residential, Commercial  •  CBC

Developer Percy Wilbur has proposed a 12-storey mixed-use building in uptown Saint John which would include two or three floors of underground parking, street-level retail space, two floors of office/commercial space, topped with nine to 11 floors of residential space.

Ex-Devencore executives launch national brokerage

Commercial  •  REMI Network

Former Devencore executives Agron Miloti and Jon Bishop have launched a new national brokerage and commercial real estate advisory firm. Headquartered in Vancouver, CDNGLOBAL also boasts regional offices in Toronto, Calgary, Edmonton and Halifax.

CPP sells $400M worth of WSP shares

Commercial  •  La Presse

CPP Investments, WSP Global Inc.’s (WSP-T) largest shareholder, sold a block of 2.8 million shares worth approximately $400 million Thursday. The transaction leaves the Caisse de depot et placement du Québec the No. 1 shareholder in the Montreal-based advisory services company.

Greybrook secures $44.85M loan for Denver multifamily

Residential  •  Canada Newswire

Greybrook Realty Partners‘ managed issuer has secured US$44,850,000 in committed equity capital to acquire and oversee the development of a prime parcel of land in Denver. Together with PMG, the firm intends to build a mixed-use multifamily residential building.

Apple delays office return by at least a month

Commercial  •  Calgary Herald

Apple Inc. is pushing back its return to office deadline by at least a month to October at the earliest, responding to a resurgence of COVID variants across many countries, sources said.

Office culture war escalates: U.S. workers balk at return

Commercial  •  Bloomberg Law

The COVID-19 pandemic’s test of mass telework for office workers has reached an inflection point as return-to-office mandates take shape and legal battles loom over employee requests to stay at home.

Landlords regaining upper hand in T.O.’s rental market

Residential  •  Toronto Star

There are signs the Toronto area rental market, particularly downtown, is heading back into the kind of tight rental conditions that saw tenants bidding up rents in a desperate bid for apartments amid tight vacancy rates.

Canadians considering ‘workarounds’ to buy a home

Residential  •  Financial Post  •  Canada Newswire

The price surge is forcing 33 per cent of Canadian homebuyers to explore alternative options to help them get a foot into the market. “These include renting out a portion of a primary residence (21 per cent),” according to a Re/Max report.

Insolvency at highest level since index began in 2017

Residential  •  Toronto Star  •  Globe Newswire

The number of Canadians who are unable to pay their monthly bills and debt payments — in other words, insolvent — is at its highest level since the Consumer Debt Index by accounting, tax and business consulting firm MNP index began in 2017.

Fixing land-use planning is the key to affordability

Residential  •  Financial Post

The interdependency between inadequate housing supply and runaway prices is finally being appreciated in Canada. Romy Bowers, the new chief executive of Canada Mortgage and Housing Corp., has also identified new construction as the best tool against rising home prices.