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No quick fix for slumping Toronto, Vancouver condo markets
No quick fix for slumping Toronto, Vancouver condo markets
New condominium launches have become more scarce in Toronto and Vancouver since the Bank of Canada began raising interest rates two years ago. Sales are at their lowest levels in years, and inventory is rising. So, what's next?
NexLiving sells Moncton apartments, preps for Devcore deal
NexLiving Communities Inc. (NXLV-X) announced it will be selling McLaughlin Estates apartments in Moncton for $19.4-million to lower its debt, as it prepares to close a transformative transaction with Devcore.
Park Lawn announces $1.2B going-private transaction
Shares of Toronto-headquartered Park Lawn Corp. (PLC-T) soared nearly 60 per cent in early trading after the company announced a plan to be taken private in an agreement valued at about $1.2 billion, including debt.
 | The Industrial Real Estate Show A deep dive into industrial real estate (Part I)Chad GriffithsPartner, NAI Commercial |
Mississauga industrial development sites in receivership
A Mississauga industrial and residential development by three privately held real estate companies has been mired in receivership proceedings since April, with Kingsett Capital alleging debt exceeding $363 million. Those proceedings culminated with a receivership order on Thursday.
Loblaw testing out small-format No Frills stores
Discount grocery retailer No Frills (L-T) recently opened its first small-format store at the corner of King and Shaw in downtown Toronto. At under 15,000 square feet, it is less than half the size of a traditional No Frills location.
 | North American Steel Why transition to an automated storage system?Discover the pivotal moment for industrial clients to shift to automated storage. From increased efficiency and optimized space to cost and labour reductions, explore the strategic benefits of embracing advanced pallet retrieval systems in warehouse operations. Sponsored by: North American Steel |
Government support helps office conversions
Recent reports of Strategic Group’s pause on its conversion of the Barron Building in Calgary, citing cost considerations, points to the challenges developers face and the importance of municipal support.
Mosaic takes plunge with Woodward development in Surrey
Twenty-six months of unfavourable market conditions has stunted residential and multiresidential project launches across Canada, but Mosaic Homes has bucked that trend with Woodward, a Surrey-based townhouse development.
Standalone The Ritz-Carlton Residences coming to Canada
An upcoming luxury residential development at Predator Ridge in the Okanagan region of British Columbia will be the first standalone The Ritz-Carlton Residences location in Canada. The project will be Wesbild's latest development at Predator Ridge.
Winnipeg's Sherbrook Inn sold; upgrade planned
The Sherbrook Inn, a controversial Winnipeg bar and beer vendor shuttered since February, is making a comeback. The building was purchased in mid-May by Neil Soorsma, a local businessman who plans to renovate the property.
Knix grows with new stores and wholesale expansion
Underwear and apparel retailer Knix has opened six new stores since last fall, bringing its total store count to 14 now, as well as launching a wholesale initiative with products being sold in Sporting Life.
Vancouver’s tech campuses play a vital market role
They’re not Googleplex or Apple Park, but Vancouver’s tech campuses and innovation hubs continue to attract investment and talent while supporting the area’s technology sector and the local economy, according to companies that occupy and build them.
Redesigning a rehabilitation centre for the future
University Health Network’s new 316-bed West Park Healthcare Centre centralizes the rehabilitation care previously scattered across three buildings into a six-storey, 730,000-square-foot building overlooking Toronto’s Humber River valley.
How billionaires bought 70% of Detroit’s offices
For Rocket Cos. founder Dan Gilbert, a $6 billion bet on Detroit’s comeback is starting to pay off. General Motors Co. agreed in mid-April to move its headquarters to the billionaire's Hudson’s Detroit, a shiny glass and gold complex.
Century-old Detroit train station restored as tech campus
A landmark building in Detroit is coming back to life this week with a new purpose. Michigan Central Station is reopening as a global hub of innovation for "mobility solutions," after a $950 million restoration, according to its website.
Bankrupt trucker Yellow may start new REIT
Defunct cargo hauler Yellow Corp. may put its remaining cargo terminals and other vacant properties into a real estate investment trust that could be used to raise money for creditors, bankruptcy advisers for the company told a judge Monday.
Manhattan office market tightens
Leasing volume was up in Manhattan in May, with three million square feet of office leases signed during the month, according to Colliers. That is almost 200,000 square feet more than April’s total and a 70 per cent increase year-over-year.
Nonprofits seizing moment to buy CRE at a discount
Wellroot Family Services was looking for a new place to house teenagers when it came across an aging apartment building in Decatur with an owner who didn’t want to pay to bring it up to standard.
Hilton set to double lifestyle portfolio within four years
With nearly 350 existing lifestyle hotels and another 350 expected to join the portfolio by 2028, Hilton (HLT-N) is set to double its presence in the fast-growing lifestyle category in the next four years.
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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