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With 8 Wellesley sold, it’s Prime time for CentreCourt
With 8 Wellesley sold, it’s Prime time for CentreCourt
With the momentum of quickly selling out its 8 Wellesley Residences behind it, CentreCourt now looks toward the launch of Prime Condos. Sales for the 55-storey downtown Toronto 8 Wellesley began Feb. 18; by March 5 597 of the 599 condominiums were sold.
Ford pushes for warehouse on protected wetland
• CBC • Toronto Star
Ontario Premier Doug Ford is pushing to pave over a protected wetland in Pickering in favour of building the largest retail warehouse in Canada, reportedly for Amazon on property belonging to the Triple Group of Companies, backers of nearby DLive.
Waterfront Toronto resets plans for Quayside site
• Globe and Mail • Toronto Star • Canada Newswire
The downtown Toronto district Sidewalk Labs had hoped to develop is getting a new vision. Instead of robots carrying freight through underground tunnels, the focus will be on affordable housing, access to Lake Ontario and ambitious public architecture.
Artis leadership tables ‘bold new vision and strategy’
UPDATED with quotes, details: Artis Real Estate Investment Trust’s (AX-UN-T) new management is forging a path to shedding REIT status and converting to an open-ended trust. The strategy is one of several announcements as management ended Artis’ 100-day review.
Brigil buys downtown Gatineau Sheraton hotel
Brigil said Tuesday it’s reached an agreement to purchase the Four Points by Sheraton Hotel and Conference Centre at 35 Laurier Ave. in Gatineau, near the Canadian Museum of History. The sale is expected to close at the end of April.
First Capital ups density plans for Christie’s site
• Urban Toronto • RENX
First Capital Realty (FCR-T) has proposed a 4.9 per cent increase in residential density for 2150 Lake Shore Blvd. W. The proposal includes nine- and 12-storey office buildings with ground-level retail and residential towers with ground level-retail of eight, 11, 46, and 70 storeys.
Podcast: Ind. RE with Bronwyn Scrivens, Chad Griffiths
The Real World of Real Estate: Gerald Tostowaryk interviews Bronwyn Scrivens of Omada Commercial and Chad Griffiths of NAI Commercial on trends and market conditions in the Edmonton industrial marketplace.
W. Canada’s first Costco Business Centre in Edmonton
West Edmonton will be the site of a new Costco (COST-Q) and the 127,000-square-foot facility will also represent Western Canada’s first Business Centre, catering to business needs with unique items and larger-quantity items than can be found in regular stores.
Altus Group to acquire FinanceActive for $150M
• Globe Newswire • RENX
Altus Group Ltd. (AIF-T) announced it has signed an agreement to purchase Paris-headquartered FinanceActive SAS, a leading provider of debt management SaaS solutions for CRE treasury and investment management, for $150 million Cdn to be paid primarily in cash.
Fredrik Eaton saw the demise of family empire
• Globe and Mail (Sub. required)
Fredrik Eaton belonged to the fourth – and final – generation to run Eaton’s, the family’s department store empire. One of four brothers, he ran the firm from 1977 to 1988. Eaton died at home in Caledon, Ont., on Feb. 20 at the age of 82.
Halifax building named after crane that fell on it
• Toronto Star • CBC
A downtown Halifax apartment building under construction when a crane fell on it during post-tropical storm Dorian has been renamed after the disaster that made it famous. Olympus Properties‘ Olympus will instead be known as The Crane on South Park.
REIT fourth-quarter financial results
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BSR REIT, (HOM-U-T), Canada Newswire
Melcor REIT, (MR-UN-T), Globe Newswire
Foodtastic plans major expansion for Second Cup
Montreal-based Foodtastic, the new owner of specialty coffee brand Second Cup Coffee, has aggressive plans for expansion across the country in the coming years. Foodtastic’s purchase of Second Cup from Aegis Brands Inc. is expected to close in early April.
Managers eye performance disparities across subsectors
After lagging the broad market badly during a money-losing 2020, real estate equities appear to be on track for recovery this year as economies reopen and mass vaccinations ease the ravages of COVID-19. However, the performance disparities among subsectors has widened.
Data centre real estate is primed to boom
• CNBC
Data centres are primed to set growth records this year, according to CBRE. The buildings aren’t pretty, but they’re essential to how we live these days, housing the infrastructure that fuels everything from shopping online to working from home.
Pandemic tames Airbnb in Europe’s tourist hotspots
• Reuters
The COVID-19 pandemic has achieved what many mayors across Europe have failed to do: wipe out 10s of thousands of Airbnbs from city centres and so help lower rental costs for locals, in some places by as much as 15%.
For downtown Toronto condos, the worm has turned
• Globe and Mail (Sub. required)
Sellers in Toronto’s condo market are starting to test their mettle again. Pope Real Estate broker Robin Pope has seen a few bidding skirmishes for condo apartments. Downtown condo units had fallen sharply out of favour due to COVID-19.
Condo buyers return to Metro Van. presale market
In Metro Vancouver’s new condo presale market, there is renewed buyer interest and more projects are selling out as the impact of tight supply, surging resale prices and low interest rates spills over from the detached-single home sector.
Unlike Canada, Kiwis have plan to cool hot housing market
• CBC
The government of New Zealand — a country often likened to Canada for its soaring home prices — is attempting a solution to its red-hot market by making it harder to get a mortgage. The Bank of Canada is not.
Prince George building permits soar 300 per cent
The value of building permits in Prince George, B.C., were up more than 300 per cent year-over-year in February. The city issued a total of 26 building permits in February, worth an estimated $6.36 million following a combined value of $1.83 million last February.
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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