Devmont enters industrial sector with Mtl. airport dev.

Devmont, known historically as a residential developer, is building its first industrial project in Montreal. The 141,000-square-foot building near Trudeau International Airport will provide employees views of a runway from its rooftop patio.

BMO program finances Edmonton apartment tower retrofit

Calgary-based Avenue Living Asset Management Ltd. is taking a 49-year-old rental building in its portfolio and retrofitting the Edmonton property through a unique financing program with BMO.

Sale of Garibaldi At Squamish approved

After being placed under receivership in December and securing a stalking horse bid to buy the property in January, the sale of the planned Garibaldi At Squamish ski resort was approved on May 3, according to Supreme Court filings.

PCI Developments plans three towers in Van.

President Tim Grant says PCI Developments plans to build three towers up to 35 storeys, including two secured purpose-built rental housing towers and one office tower, in the 2.1-acre city block of 1155 East 6th Ave. in Vancouver.

Tribute proposes four high-rises south of Whitby GO

Tribute Communities has proposed 28-, 32-, 32- and 36-storey towers at 1636 Charles St. in Whitby's Port Whitby area. The Turner Fleischer Architects-designed project would include 1,639 residential units and 24,359 square feet of commercial and retail space.

Chapter condos third build at Beedie’s Fraser Mills

The third residential project at Beedie Living's master-planned Metro Vancouver community of Fraser Mills will be two six-storey wood-framed condo buildings designed to appeal to downsizers and new families. Prices will range from $569,000 to the mid-$900,000s.

Canderel named operator of Van. office complex

Montreal-based Canderel has been named operator of Vancouver's 401 West Georgia St., a 1984-built, 23-storey tower with 264,000 square feet of class-A office space, and 402 Dunsmuir St., a 2020-built, nine-storey with 152,000 square feet of space.

Atlas opening 90K-sq.-ft. plant in N.S. business park

Work is continuing on an Atlas Structural Systems manufacturing facility in Nova Scotia's Uniacke Business Park. The 90,000-square-foot building will serve as an off-site construction facility for prefabricated wall, floor and stair panels for affordable homes and multiresidential buildings.

Little Potato opens $39.5M facility in Alberta

The Little Potato Company celebrated the grand opening of its $39.5-million potato packaging facility in Nisku, Alta., last week. The 240,000-square-foot Nisku Business Park facility has the capacity to process approximately 125 million pounds of potatoes annually. 

Ford plant partners suffer financial challenges

Ford and its partners, who are slowing down a flagship project in the battery sector in Bécancour, Que., are facing significant financial challenges. This billionaire construction site is in neutral while several floors have emerged from the ground.

Business insolvencies at Great Recession levels

Business insolvencies in Canada are hitting their highest point since the Great Recession, new data show. According to the federal Office of the Superintendent of Bankruptcy, 2,003 business insolvencies were filed from Jan. 1 to March 31 of this year.

HBC to close only Regina store in April 2025

Hudson’s Bay Company is pulling out of Regina, announcing it will close its only department store in Saskatchewan’s capital city next year. HBC says it has decided not to renew its lease at Cornwall Centre in downtown Regina.

Vegan fast food chain will soon have 19 restaurants

London-based vegan fast food restaurant Odd Burger, with two London locations among 13 across Canada, is adding six new stores this summer in Toronto and Western Canada, co-founder and chief executive James McInnes said.

Co-ops an alternative to corporate grocers: Experts

Retired lawyer Bruce Woodrow had been growing more concerned with the grocery industry and the profits it was turning as food prices climbed. Woodrow joined Karma Co-op as a member last spring and now volunteers on the store’s finance committee.

REIT Q1 2024 financial reports

BTB REIT, (BTB-UN-T), Canada Newswire

CT REIT, (CRT-UN-T), Canada Newswire

City Office REIT, (CIO-N), PR Newswire

Brookfield buys SVB’s venture portfolio

Silicon Valley Bank’s collapse continues to reverberate over a year later, with its assets being parceled out. SVB’s Silicon Valley Capital venture investment arm is set to be spun off for $340 million by buyers Brookfield and Pinegrove Capital. 

AI demand turns data centres into ‘hottest asset class’: JLL

Jones Lang LaSalle Inc.’s chief executive officer Christian Ulbrich said demand is soaring for data centers as corporate America embraces artificial intelligence, creating a rare bright spot in a commercial-property market faced with rising office vacancies.

Bloomberg extends 1M SF HQ lease until 2040

Bloomberg LP has extended its nearly one million-square-foot lease for the entirety of the office space at 731 Lexington Ave., the Manhattan office building owned by real estate investment trust Alexander’s, Inc.

Mixed-use districts are on the rise in U.S.

In the U.S., prime office corridors are migrating away from core central business districts (CBDs), according to JLL research. Peripheral, urban neighborhoods are becoming more dominant and now account for 54% of the most expensive U.S. streets.