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The prospects for large-bay, multi-storey industrial in Canada
The prospects for large-bay, multi-storey industrial in Canada
Prologis completed North America’s first multi-storey, large-bay distribution centre in Seattle. Vancouver might be the first Canadian city for such a facility. “There’s actually been some very successful examples of multi-storey, industrial mixed-use across Metro Vancouver,” said Colliers’ Andrew Rojek.
Invesque to acquire Commonwealth Seniors Living
Health and seniors living real estate investor Invesque (IVQ-U-T) will spend US$340.4 million to acquire Commonwealth Senior Living LLC and 20 private-pay seniors communities in two U.S. states. Nineteen of the communities are in Virginia, the other in Pennsylvania.
Uber reveals plans for Toronto engineering hub
• CP 24 • MobileSyrup
Uber has announced its plans for a new Toronto engineering hub slated for a high-rise on Bloor Street East. The facility, Uber’s first in Canada, is expected to occupy the top five floors of a building at 121 Bloor St. E.
Markham creating huge innovation hub: Mayor
• CBC
Mayor Frank Scarpitti says Markham has designated about 1,900 acres of private and city-owned lands that will be developed as the home of a new innovation hub. He says it will be one of the largest innovation districts in North America.
More Toronto condo projects in danger of collapse
A raft of condo project cancellations over the past 18 months has left thousands of presale GTA buyers out in the cold. An analysis has found dozens of other projects on sale since 2016 are stalled and some in danger of collapse.
Sales slow for Vancouver rental apartment buildings
• Vancouver Sun • Vancouver Sun • Vancouver Sun
Metro Vancouver’s rental apartment building sales market is slowing down. “There’s no question about it,” said David Goodman, principal with Goodman Commercial, which specializes in rental apartment sales and publishes the Goodman Report.
Toronto moves forward with inclusionary zoning plans
• Toronto Star • Globe and Mail • Forbes
Toronto is moving forward with plans to implement inclusionary zoning — a tool the city is counting on to meet its affordable housing goals — despite the upheaval caused by provincial legislation announced earlier this month.
Bronfman, Devimco teaming up to buy Montreal land
• CBC • CTV • Montreal Gazette
Claridge, owned by Stephen Bronfman, and developer Devimco Immobilier are teaming up to acquire a plot of land at the Peel Basin, where the Montreal Group wants to build a new stadium for a potential Major League Baseball team.
Southern Alberta’s largest FN sportsplex opens
• CBC • Calgary Herald
The 7 Chiefs Sportsplex & Chief Jim Starlight Centre – the largest sportsplex on a southern Alberta First Nation – is open. The 228,000-square-foot facility includes two NHL-sized indoor rinks, a covered outdoor rink and cost $58 million to complete.
Up to 79,000 could live in Edmonton-area development
• CBC
Strathcona County residents were out in force Tuesday evening for a public hearing on a concept plan for an urban development proposed for the region. Up to 79,000 could live at the Bremner Area Project after the 39-year build is complete.
Château Laurier owner files latest expansion design
The owner of the Château Laurier has filed what it hopes will be its last attempt at designing an addition to the historic hotel. City staff Thursday are expected to release a report on the latest iteration by Larco Investments.
Feds fear Quebec infrastructure spending delays
The federal government fears Quebec could continue to delay infrastructure projects after the province stalled two flood mitigation developments in Montreal, adding to worries that provincial dithering will continue to stall Prime Minister Justin Trudeau’s spending plans.
Spain’s richest person bets billions on prime U.S. RE
Amancio Ortega is a Spaniard conquering the U.S. in the 21st century. This month, the investment vehicle of the multi-billionaire behind Zara owner Inditex SA completed a $72.5-million deal for a downtown Chicago hotel.
London office building at post-Brexit high
• Reuters
New office building in central London is at a three-year high, with 13.2 million square feet of space under construction, up 12 per cent on the figure six months ago, Deloitte Real Estate’s London Office Crane Survey said on Monday.
Canadian debt levels hit record highs: CMHC
Canadian household debt reached a record high in Q4 2018 even as mortgage activity slowed, the Canada Mortgage and Housing Corp. said Wednesday. The debt to income ratio of Canadians hit a record high of 178.5 per cent in Q4.
IMF warns against easing Canada’s housing rules
• Yahoo Finance • Globe and Mail
The International Monetary Fund says Canada should ignore calls to relax stricter mortgage rules, or introduce new measures to reignite the housing market. Both Toronto and Vancouver’s real estate boards want Ottawa to ease the stress test for buyers.
Big-city mortgage drop larger than expected: CIBC
The drop-off in metropolitan mortgage markets has been “more pronounced and more prolonged” than anticipated, according to Canadian Imperial Bank of Commerce.
Markham’s The 6th at Angus Glen honoured by CHBA
The Canadian Home Builders’ Association recently announced the winners of the annual 2019 CHBA National Awards for Housing Excellence. Kylemore Communities won the Mid- to High-Rise Condominium or Apartment Project (Completed) Award for The 6th at Angus Glen.
Centris looks to power RE websites outside Quebec
The made-in-Montreal Centris.ca online real estate property portal is branching out to new markets outside of Quebec. First stop: Vancouver and the new version of realtylink.org. Next stop: the world.
Northern Alberta wildfire ranked at highest danger level
• CBC • Global News • Bloomberg
An out-of-control wildfire burning Tuesday near a town in northwestern Alberta is rated at the highest possible danger level, and the dry, windy weather means the danger is expected to increase this week, says Alberta Premier Jason Kenney.
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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