Canadian co-working firm iQ Office Suites expands

RENX  Commercial  •  Office  •  National

Toronto-based shared office provider iQ Office Suites has announced its first locations in Ottawa, Montreal and Calgary, while also expanding its footprint in Vancouver and Toronto. In total, the company will add well over 100,000 square feet to its operations.

Great divide in Vancouver apartment development

RENX  Residential  •  Apartments  •  Metro Vancouver

In Metro Vancouver’s perpetual struggle to build enough rental apartments for its growing population, the suburbs are leaving the city behind. Brokerage Goodman Commercial, which focuses on rental building sales, calls the situation “shocking” in its mid-year report.

Calgary approves arena deal for NHL’s Flames

Commercial  •  CBC  •  Calgary Herald  •  Globe and Mail

Calgary is going to build a new arena for its NHL team. Council voted 11-4 on Tuesday approving a financial agreement to build an event centre, which will be the new home of the Calgary Flames and replace the 36-year-old Saddledome.

A reset on repurposing Toronto school board RE

Commercial  •  Globe and Mail

With 600 properties comprising more than 2,000 hectares, the Toronto District School Board is by far the city’s the largest property owner, but one plagued with systemic trends it has little power to control including $5 billion in deferred repairs.

Avison Young relocating NYC HQ to Fifth Avenue

Commercial  •  New York Post

Toronto-based Avison Young is moving its NYC headquarters to 45,000 square feet at 530 Fifth Ave., where the brokerage is also the agent for the RXR-owned building. The company will occupy part of the third and the entire fourth floor.

NRCan funds smart energy grids in Ottawa, Guelph

Residential, Commercial  •  Sustainable Biz Canada

A smart-grid project utilizing solar panels and state-of-the-art battery storage at an Ottawa Community Housing Corporation complex is getting a $5M boost from the federal government. Funding comes via Natural Resources Canada for Hydro Ottawa’s micro-grid energy project.

Heritage Ottawa to fight Château Laurier addition

Commercial  •  CBC  •  Ottawa Citizen  •  Toronto Star

Ottawa heritage advocates have hired a legal team as they try to stop what they call an “inappropriate” addition to the Fairmont Château Laurier. The addition has been conditionally approved last by Ottawa council.

Mattamy tries to win over Ottawa residents

Residential, Commercial  •  CBC

Ottawans upset with Mattamy Homes‘ plans for the redevelopment of a golf course surrounding their homes could become the owners of the course instead. Mattamy proposes to build 158 homes, but would commit to no further development on the property.

Mid-rise buildings proposed at Dufferin and Dundas

Residential  •  Urban Toronto

Block Developments has submitted two separate Official Plan Amendment and Zoning Bylaw Amendment applications to the City of Toronto for a pair of eight-storey mid-rise residential buildings at 646 Dufferin St. and 1494 Dundas St. W., straddling three low-rise buildings.

CannTrust explores sale after pot breach

Commercial  •  Bloomberg  •  Bloomberg

CannTrust Holdings Inc. (TRST-T) hired Greenhill & Co. to explore a sale after a regulatory breach led the Canadian pot company to fire its chief executive officer and erased about $500 million in market value.

SNC-Lavalin expands in Port Elgin

Commercial  •  Construction Canada

SNC-Lavalin recently moved to a larger 12,000-square-foot facility in Port, Elgin, Ont., to accommodate its expanding workforce to support the Bruce Power Life Extension Program.

TC selling natural gas power plants for $2.7B

Commercial  •  CBC  •  Bloomberg  •  Globe and Mail (Sub. required)

TC Energy Corp. (TRP-T) is selling three natural gas-fired power plants to Ontario Power Generation Inc. for $2.7 billion, with proceeds earmarked for funding pipeline and other projects and paying down debt.

China won’t use real estate to provide short-term stimulus

Residential, Commercial  •  Reuters

China will not use its real estate market to provide short-term stimulus to the economy, but will make fiscal policy more effective and take steps to cope with trade frictions, the official Xinhua news agency said on Tuesday.

A perfect scenario for InterRent REIT

Commercial  •  Motley Fool  •  RENX

InterRent REIT (IIP-UN-T) had a fantastic year last year, with a return of over 35%. The company, which specializes in rental apartments in southern Ontario and Montreal, has benefitted from being in the right place at the right time.

Allied Properties a REIT with solid growth

Commercial  •  Globe and Mail (Sub. required)  •  RENX

Toronto-based Allied Properties REIT (AP.UN-T), focused on managing and developing office properties with a concentration in Toronto and Montreal, has been a solid performer over the years given its attractive portfolio of assets and strong fundamentals.

REIT second-quarter financial results

Commercial  • 

InterRent REIT, (IIP-UN-T), Canada Newswire

Melcor REIT, (MR-UN-T), Globe Newswire

Morguard North American Residential REIT, (MRG-UN-T), Canada Newswire

Slate Retail REIT, (SRT-U-T), Business Wire

Charlottetown one of Canada’s hottest markets

Residential  •  CBC

House prices in Charlottetown rose 38.5 per cent over the last three years, one of the fastest rates in the country, according to the Canadian Real Estate Association. That’s faster than Victoria (33.3 per cent), Vancouver (10.93) and Toronto (25.3).

Canada’s first CondoExpo set for Vancouver

Residential  •  Business In Vancouver

B.C.’s real estate and development industry has been full of innovative ways to sell new condos recently, and now it is taking another fresh approach to sales with Canada’s first ever CondoExpo.

Getaway for the rich eyed for B.C.’s James Island

Residential  •  Victoria Times Colonist

An exclusive, master-planned community for the wealthy and well-connected is being planned for a portion of James Island, off Sidney. It appears a deal has been struck between the island’s owner, billionaire Craig McCaw, and Arizona-based Discovery Land Corp.

Updated plan submitted for proposed U of T student residence

Residential  •  Urban Toronto

A proposed student residence for the University of Toronto’s Scarborough Campus (UTSC) has been resubmitted with a new plan. Originally tabled in 2017 with a proposal seeking a zoning by-law amendment, the plan previously called for a 10-storey student residence.