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Pharma firm first tenant at Montreal's 40NetZERO industrial park
Pharma firm first tenant at Montreal's 40NetZERO ind. park
A major pharmaceutical firm is to be the first tenant of the $1-billion 40NetZERO, a site in Montréal-Est its developers say will become the largest carbon-neutral industrial park in North America.
Legislating density: Gov't can't command market reaction
GUEST SUBMISSION: The B.C. government sparked a flurry of interest when, in an effort to make more land available for much-needed urban housing, it passed legislation that increases heights and densities allowed on properties near TOD sites.
rooms + spaces defaults on Vancouver lease obligations
rooms + spaces, a new made-in-Canada retail brand created to backfill premises vacated by Bed Bath & Beyond Canada, has defaulted on its lease obligations of the West Broadway Centre Ltd.-owned Vancouver store located at 1740 West Broadway.
H&R sells Toronto's Corus Quay building for $232.5M
H&R REIT (HR-UN-T) has an agreement to sell one of its marquee Toronto office properties, the Corus Quay building along the Lake Ontario waterfront, to George Brown College and Halmont Properties Corp., for $232.5 million.
OSFI leaves mortgage stress test unchanged
The Office of the Superintendent of Financial Institutions (OSFI) has kept the mortgage stress test unchanged for the third consecutive year, saying it will lead to lower loan delinquencies because it ensures borrowers can handle payments if interest rates rise.
Thornhill high-rise proposal grows to 40 storeys
Curated Properties' revised proposal for a rental apartment building at 17-23 Morgan Ave. in Thornhill calls for 40 storeys, seven storeys taller than its initial iteration submitted 11 months ago. The RAW Design tower would include 487 residential units.
Taheri proposes 26-storey mixed-use tower
Taheri Development Inc. is proposing a 26-storey mixed-use tower at 210 Islington Ave. in South Etobicoke. The Icon Architects-designed tower would include 352 condos and 10,764 square feet of retail space at ground level.
Land listed for $9M in Calgary's Inglewood neighbourhood
A nearly one-acre plot of land is up for grabs in the heart of Calgary’s Inglewood neighbourhood and highly preliminary conceptual renderings show it could be the home of two new towers. The property is listed at $9 million.
Halton Hills rejects new gas plant
Halton Hills, home to one of Ontario’s biggest gas plants, has rejected an expansion project, with local councillors saying concerns about climate change and local air pollution prevented them from being able to support new fossil fuel infrastructure.
Mix of challenges thwart convention business
Challenges related to travel logistics, undersized facility space and inadequate surrounding amenities thwart convention business at provincially operated venues in Toronto and Ottawa, Ontario’s acting Auditor General, Nick Stavropoulos, has concluded.
World Cup to trigger biggest BC Place renovations since 2011
BC Place stadium will undergo millions in renovations to get ready for the FIFA World Cup in 2026. The work will be the most extensive since 2011, when a $514-million renovation included a retractable roof.
Olympic Stadium renovations to cost at least $750M
Replacing the roof and the technical ring of Montreal's Olympic Stadium would cost at least $750 million. Olympic Park is currently finishing negotiations with the consortium selected to carry out the project, led by Pomerleau and Groupe Canam.
Gensler creates product sustainability standards
Architectural and design firm Gensler hopes its product sustainability standards will reverberate across the industry, encouraging its peers to adopt more climate-friendly building materials. The Gensler Product Sustainability Standards will cover 12 of the most commonly used building products.
Vancouver property tax to jump 7.5 per cent
Residential homeowners in Vancouver will see their property tax bill jump 7.5 per cent in 2024. City staff presented its 2024-2028 Budget Outlook in June, which projected a property tax increase of 9.5 per cent unless cuts were made.
Macy's CRE worth about $3B more than bid: Analysts
Analysts say Macy's is worth billions more than the $5.8 billion bid an investor group brought forward this week for outstanding stock it doesn’t own — and the retailer's real estate is the reason.
Investors set for CRE secondary spending spree
Ares Management, Blackstone and Goldman Sachs have all launched funds aimed at investing in secondaries – generally considered investments in existing assets that can bring in fresh capital – a segment of the CRE market expected to gain prominence in 2024.
Bankrupt Yellow approved for $1.88B real estate sale
Bankrupt trucking company Yellow Corp. received court approval on Tuesday to sell most of its shipping centres and owned real estate to multiple buyers for $1.88 billion, ending a potential bidder's long-shot effort to keep the company intact.
Atlantic Yards at 20: Unfinished and facing foreclosure
Twenty years ago, a developer unveiled a $2.5 billion vision for what he hoped would be Brooklyn’s most celebrated project since the Brooklyn Bridge. To mark the anniversary, the project’s senior lender filed paperwork to begin foreclosure proceedings.
WeWork resolves landlord objections to bankruptcy financing
WeWork has resolved landlords' objections to its bankruptcy financing agreement, saying on Monday that it had agreed to reserve a portion of any future loans in an account that will be used for rent payments.
Washington Capitals, Wizards moving to Virginia
Ted Leonsis, owner of the Washington Wizards and Capitals, Wednesday announced the teams plan to vacate the 26-year-old Capital One Arena in downtown D.C. in favour of a $2B mixed-use entertainment district planned in Alexandria’s Potomac Yard neighbourhood.
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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