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Comparing apt. sectors in Calgary, Edmonton, Vancouver
Comparing apt. sectors in Calgary, Edmonton, Vancouver
Canada’s three largest Western cities are divided by the Rocky Mountains, and a mountain of difference describes conditions between Vancouver and its Alberta counterparts Calgary and Edmonton. So panelists at the Western Canada Apartment Investment Conference had plenty to discuss.
RioCan, KingSett rethink Yonge Sheppard Centre
The Yonge Sheppard Centre in north Toronto was built in the 1970s as the quintessential suburban mall. Customers would arrive by car, park in one of its nearly 1,700 underground spaces and emerge on shopping floors where storefronts faced interior corridors.
Reina condos Canada’s first all-female development
A proposed condo project in Toronto’s Etobicoke neighbourhood will be the first in Canada developed solely by women. Taya Cook of Urban Capital and Sherry Larjani of Spotlight Development have built the team which will design and develop Reina.
Crombie REIT selling 15 more retail assets to Oak Street
Crombie REIT (CRR-UN-T) will sell majority non-managing interests in 15 additional Canadian grocery store-anchored retail properties to Chicago’s Oak Street Real Estate Capital for $193 million. This is the second sale in recent weeks as Crombie recycles funds for redevelopment projects.
$775M terminal coming to Port of Québec
The Port of Quebec today announced its intention to build a $ 775-million deep-water terminal capable of serving the American Midwest. The Quebec Port Authority (QPA) said it has partnered with Hutchison Ports and Canadian National.
BTB acquires two Montreal properties for $62.6M
• Globe Newswire • RENX
BTB REIT (BTB-UN-T) has entered into an agreement for the acquisition of two properties on the South Shore of Montreal. The properties, generating a net operating income of approximately $4.6 million, are being sold for an aggregate purchase price of $62.6 million.
MUHC lost millions on a real-estate sinkhole
Despite being ordered by the provincial government to rein in rising hospital expenses, the McGill University Health Centre has nonetheless run up an accumulated deficit of at least $4.1 million in an office building it manages in Notre-Dame-de-Grâce.
Casino not among options for Ontario Place
• CBC • Toronto Star • Globe and Mail
A casino will not be part of development plans for Ontario Place, the Ontario government said on Tuesday as it officially put out a call to the private sector for proposals to revitalize the derelict theme park.
LED designer ups its game with Eaton Centre project
• Ottawa Business Journal • RENX
Ottawa-based UTG Digital Media has put some pep in a new set of steps at CF Toronto Eaton Centre, installing a specialized LED staircase as part of recent renovations. The project is valued at more than $200,000.
Canadian Utilities sells fossil fuel power assets for $835M
• CBC • CBC • Saskatoon StarPhoenix
Eight months after announcing a strategic review of its power plants business, Canadian Utilities Ltd. (CU-T) has struck a deal to sell its entire Canadian fossil fuel-based electricity generation portfolio for about $835 million.
Burcon reveals plans for protein production plant
Shares of Vancouver-based biotechnology company Burcon Nutrascience Corp. (BU-T) were on fire Monday, several days after the company revealed it plans to build a $65-million pea- and canola-protein production plant somewhere in Western Canada.
Developers hit pause on riskier, high-rise condos
High-rise condo projects, which carry significant risk for developers and construction lenders, comprised the largest proportion of postponed developments, according to Urban Analytics, which tracks pre-sale condo data.
Burnaby passes bold rental-only zoning plan
• Burnaby Now • CBC • Victoria Times Colonist
Hundreds of rental apartments have been demolished in Burnaby in recent years, while few new ones have been built. Now, the city has passed an ambitious plan to turn the tide – rental-only zoning.
Great Gulf celebrates Ron Arad’s ‘Safe Hands’
One of the last pieces of Great Gulf‘s 76-storey One Bloor East puzzle was officially recognized on Friday morning, with the official dedication ceremony for the project’s public art installation – designer and architect Ron Arad’s “Safe Hands“.
What happens when a town loses its largest employer?
For 25 years, Grenville Castings in Perth has crafted aluminum parts for GM, Tesla and other automakers. But it no longer makes financial sense to build those parts in Ontario, leaving workers – and the town itself – staring into an uncertain future
Alcanna to acquire 28 Solo Liquor Stores
Alcanna Inc. (CLIQ-T) announced the Canadian Liquor Retailers Alliance Limited Partnership will acquire the underlying assets of 28 stores currently operating as Solo Liquor and three additional leased locations that have not yet been opened.
Home Capital Group could become takeover target
Home Capital Group Inc. (HCG-T) could become an attractive takeover target if the company’s stock continues to trade below book value, a research analyst with M Partners said Monday.
Vancouver mansions selling for less than half original ask
• Western Investor • Vancouver Province • CBC
A six-bedroom, 9,700-square-foot house on Vancouver’s chi-chi West Side has been on and off the market for the past two-and-a-half years. It was originally listed in September 2016 for $21,898,000. It just fetched $9.8 million – 55 per cent less than its 2016 asking price.
Calgary approves condo plans on critical corner
• CBC • Calgary Herald
A developer that owns several dozen properties along 17th Avenue S.W. has been granted permission to build condos on one of Calgary’s busiest corners. Arlington Street Investment purchased the corner, along with about 40 other buildings.
Edmonton neighbourhood’s revitilization efforts paying off
• CBC
On a May morning, good things are happening inside the Carrot Coffeehouse on 118th Avenue. A community hub in the truest sense, the place is bustling. Alberta Avenue residents gather in the art-filled space, enjoying conversation and the folksy vibe.
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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