WiredScore Home certification launches for multifamily

RENX  Residential  •  Apartments, Condominiums, Technology  •  National, International

The rapidly expanding multifamily sector now has an internationally recognized standard for digital connectivity with the launch today of WiredScore in Canada and the United States.

CLV takes lead on three-tower Ottawa plan

Residential, Commercial  •  Ottawa Business Journal

CLV Group has taken over the lead role in developing a prime plot of real estate near Ottawa’s Trillium LRT line, proposing 850 residential suites, 177,000 square feet of office space and 17,000 square feet of retail space in a three-tower project.

Ten Block proposes 54-, 59-storey mixed-use towers

Residential, Commercial  •  Toronto Storeys  •  Urban Toronto

Toronto’s Ten Block has proposed 54- and 59-storey mixed-use towers at 25 St. Mary St. in Toronto’s Bay Street Corridor. The towers would include 1,143 new suites comprised 106 bachelor, 593 one-bedroom, 351 two-bedroom and 93 three-bedroom units in addition to ground-floor retail and a two-storey daycare.

Novartis to anchor new office tower at Place Gare Viger

RENX  Residential, Commercial  •  Office, Apartments, Hotels and Resorts  •  Greater Montreal

Jesta Group has unveiled new details about its master-planned, million-square-foot Place Gare Viger development in the heart of Old Montréal, including a move by Novartis Pharmaceuticals Canada to become the anchor tenant in the new office tower.

585 res. units in SmartCentres’ Oakville North Phase 1

Residential, Commercial  •  Urban Toronto

As part of SmartCentres‘ evolution “From Shopping Centres to City Centres,” SmartCentres Oakville North will bring a mix of higher-density residential and retail to the 52-acre site. A combined 585 residential units are proposed in the Turner Fleischer Architects-designed first phase.

Marcon adds second rental tower to Van. plan

Residential  •  urbanYVR

Marcon is doubling up on rental apartments at Oakridge, submitting a rezoning application for a second tower. Marcon’s 18-storey building with 215 rental units was approved in April. A second 18-storey tower would contain 211 rental apartment units, including 42 below market rental.

Sponsored by Firm Capital Corporation Providing bridge real estate capital to developers and real estate owners for over the last 30 years

Firm Capital Corporation “Firm Capital” has established a track record as a leading non-bank lender in Canada providing bridge financing – 1st and 2nd mortgages, land financing, construction financing, secondary debt on investment properties, subordinated debt and J/V equity capital.

The dollars behind Calgary’s plan to save downtown

Residential, Commercial  •  CBC

In a sense, the $1 billion downtown strategy the city hopes will breathe new life into a hollowed out core is a long-overdue reckoning with Calgary’s dependence on oil wealth and the towers it spawned.

Edmonton may charge developers for fire stations

Residential  •  Global News

Edmonton’s executive committee recommends the city start charging developers to build fire halls in neighbourhoods when they sub-divide the land. The change is just one “off-site” levy the city could contemplate as it struggles financially post-pandemic.

Amid grim times, hotel industry eyes recovery

Commercial  •  Globe and Mail

The Canadian hotel industry hit rock bottom in Q1 2021 with a record-low average occupancy rate of 27 per cent. However, the sector is counting on pent-up leisure-travel demand  to spark a comeback this summer.

Whiteland breaks ground on $19M CentrePort facility

Commercial  •  Winnipeg Free Press

Winnipeg-based Whiteland Developers has broken ground on a $19-million distribution centre — part of the nearly 250 acres it owns at the 20,000-acre CentrePort Canada in Winnipeg. The 100,000-square-foot facility, set to complete in Q4 2021, will house Canadian fertilizer business Nutrien.

PROREIT waives conditions on Wpg. ind. properties

Commercial  •  Canada Newswire  •  RENX

PROREIT (PRV-UN-T) announced it has waived conditions on its conditional purchase agreement for a 100% interest in eight light industrial buildings in Winnipeg. Together, the properties comprise 250,000 square feet of gross leasable area and carry an aggregate purchase price of $32.3 million.

Can life sciences lead next incarnation of Canary Wharf?

Residential, Commercial  •  Bisnow

Canary Wharf Group‘s newest move is to tap into one of the fastest-growing areas of U.K. CRE: life sciences. It has submitted an outline planning application for North Quay with over four million square feet of commercial and residential space.

Invesco, Jera JV buying $500M U.S. industrial portfolio

Commercial  •  CP Executive  •  PR Newswire  •  IPE Real Assets

Invesco Real Estate and Jera Asset Management have formed Mercury Trust to take advantage of U.S. industrial markets. The Mercury Trust JV was seeded with nearly $500 million of assets that have been acquired or are under contract to be acquired.

Harrah’s Las Vegas unveils $200M renovation

Commercial  •  PR Newswire

Gambling giant Caesars Entertainment Corp. says it has completed a $200-million renovation of its Harrah’s Las Vegas resort. The work included upgrades to 2,542 guest rooms, a remodel of the casino floor and new LED marquees on the Las Vegas Strip.

Blackstone, Starwood deal for Extended Stay approved

Commercial  •  Bloomberg  •  Fortune  •  Bisnow

Blackstone Group Inc. and Starwood Capital Group’s takeover of Extended Stay America Inc. (STAY-Q) has been approved by the hotel chain’s shareholders. A majority of the shareholders were for the deal at $20.50 a share, according to a Friday statement.

Home sales fall 7.4% in May: CREA

Residential  •  Globe and Mail  •  Financial Post  •  Canada Newswire

Canadian home sales and the average price fell month-over-month in May as frustrated would-be buyers took a break and some of the pandemic urgency to secure a home began to fade, the Canadian Real Estate Association (CREA) said on Tuesday.

Canada among top three frothiest housing markets

Residential  •  Financial Post

Real estate prices around the world are flashing the kind of bubble warnings that haven’t been seen since the run-up to the 2008 financial crisis, according to Bloomberg Economics. New Zealand, Canada and Sweden rank as the world’s frothiest housing markets.

Canadian housing starts rose 3.2 per cent in May

Residential  •  Toronto Star  •  Canada Newswire

Canada Mortgage and Housing Corp. says the annual pace of housing starts in May rose 3.2 per cent compared with April, as starts of apartments, condos and other types of multiple-unit housing projects rose higher.

Offer more incentives to build affordable units: BILD

Residential  •  Toronto Star  •  Globe Newswire

It’s a planning tool being used by cities across North America to encourage the creation of affordable housing. However, Toronto’s version of inclusionary zoning could have the opposite effect, according to the Building Industry and Land Development Association (BILD).