Better balance ahead for Toronto, Vancouver office: CoStar

RENX  Commercial  •  Office, Technology  •  National

Booming office building construction cycles in Toronto and Vancouver will force landlords of older buildings to make some tough decisions, according to CoStar Group Canada. Roelof van Dijk of CoStar says Canada’s office market faces significant changes.

Multi-tower Toronto development scaled down

Residential  •  Urban Toronto

Greatwise Developments is proposing to transform the existing rental housing complex located at 325 Bogert Avenue into a new multi-tower high-rise development. The original proposal has been revised from six to four towers and has removed most of its townhouse units.

The People Space › People Space: New execs at AHIP, AY, MCAN, Arup, Altus…

Don Wilcox: Managing Editor

GM investing $170M in Oshawa plant

Commercial  •  CTV  •  Canada Newswire

General Motors Canada says it will invest $170 million in its Oshawa plant to transition the facility from manufacturing vehicles to stamping, sub-assembly and autonomous vehicle testing. GM Canada president Travis Hester says the move will save 300 jobs at the plant.

Canada’s first smart windows office tower in Van.

Commercial  •  Sustainable Biz Canada

BlueSky Properties, a Bosa family company, recently opened a nine-storey office building at 988 West Broadway in Vancouver. The class-AAA, 102,000-square-foot development is the first office building in Canada fully equipped with View Dynamic Glass technology.

Digital hotels could ease Vancouver’s space shortage

Commercial  •  Business In Vancouver

Vancouver needs new forms of hotels to house visitors after more than a decade of declines in the number of traditional hotel rooms in the city, according to industry insiders.

The Saskatchewan Edge › Retail experiencing disruption, not death

Kelly Macsymic: Business Manager, Stuart Commercial Inc., Sales Associate, ICR Commercial Real Estate

B.C. land committee slams industrial redevelopment

Commercial  •  Business In Vancouver

Publication of the final report of the committee charged with recommending ways to revitalize the Agricultural Land Reserve (ALR) and the commission that oversees it – five months after the province received it – has shed light on B.C.’s land-management thinking.

Queen’s Park to provide up to $250K in flood relief

Residential, Commercial  •  Ottawa Business Journal  •  CBC

Eastern Ontario homeowners, small businesses and other organizations affected by the recent widespread flooding will be eligible for up to $250,000 in disaster relief assistance. The funds will be paid out under the Disaster Recovery Assistance for Ontarians program.

CAPREIT’s unit price has been falling for weeks

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

CAPREIT‘s (CAR-UN-T) unit price has declined over seven per cent during the past six weeks. As a result, the REIT is just one per cent away from appearing on the negative breakouts list (stocks with negative price momentum).

REIT first-quarter financial results

Commercial  • 

Dream Industrial REIT, (DIR-UN-T), Globe Newswire

Granite REIT, (GRT-UN-T), Canada Newswire

Minto Apartment REIT, (MI-UN-T), Canada Newswire

Summit Industrial Income REIT, (SMU-UN-T), Canada Newswire

REOC first-quarter financial results

Commercial  • 

First Capital Realty Inc., (FCR-T), Canada Newswire

MCAN Mortgage Corporation, (MKP-T), Canada Newswire

Morguard Corporation, (MRC-T), Canada Newswire

Eastern Canada’s largest container terminal sold

Commercial  •  Globe and Mail  •  CBC

A Singapore-based port operator has announced a deal to buy the largest container terminal in Eastern Canada. PSA International says it has finalized an agreement to acquire the Halterm terminal at the Port of Halifax from Australia’s Macquarie Infrastructure Partners.

Nightingale to buy Coca-Cola building for $907M

Commercial  •  CP Executive

The Coca-Cola Co. has an agreement to sell its 354,000-square-foot Fifth Avenue office and retail building in Manhattan to Nightingale Properties for $907M. The company has owned the asset for more than 35 years, acquiring it in 1983 for $57.6M.

Housing starts jump 23 per cent in April: CMHC

Residential  •  Reuters  •  Canada Newswire

Canadian housing starts surged nearly 23 per cent in April compared with the previous month as groundbreaking increased on multiple unit and single detached urban homes, Canadian Mortgage and Housing Corporation (CMHC) data shows.

Banks anxiously watching spring RE market

Residential  •  Financial Post

Canada’s big banks are eagerly watching the country’s real estate markets for evidence of a rebound this spring, but the mixed signals the sector has delivered so far are unlikely to move the needle for lenders, industry watchers say.

Nearly 20% of Whistler homes on Airbnb

Residential  •  CBC

In most of Canada, if you came across a community where almost 20 per cent of properties were listed on Airbnb — and nearly two-thirds were hosted by someone with multiple listings — there would likely be huge political upheaval. Not in Whistler.

Is home-alone trend contributing to housing crisis?

Residential  •  Business In Vancouver  •  Bloomberg  •  Vancouver Province

In Vancouver, the most expensive rental housing market in Canada and one of the least affordable for homebuyers on the planet, about one-third of the homes have just one resident. So what’s the solution? Buddy up. Find a lover. Make amends with your family.

New High Park home includes 111-year-old church

Residential  •  Toronto Star

260 High Park Church Lofts and Residences, by Medallion Capital Group, will convert Toronto’s 1908 heritage-designated Alhambra Church into the Sanctuary Lofts, and incorporate a new four-storey condo building: the Condo Residences.

Toronto families value neighbourhood safety

Residential  •  Newinhomes.com  •  Business In Vancouver  •  Globe Newswire

When it comes to buying a home in Toronto, young modern families prioritize safety, work and family, according to Sotheby’s International Realty Canada and Mustel Group‘s Modern Family Home Ownership Trends Report: Neighbourhoods “in Transit.”