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Western apartment developers face a whole new paradigm
Western apartment developers face a whole new paradigm
Unprecedented population growth, persistent higher interest rates and elevated housing prices across much of Canada are creating a unique set of challenges for the Western Canadian apartment development industry, according to ATB Financial chief economist Mark Parsons.
Equiton acquires Ten99 condo dev. site in Toronto
Momentum keeps building in Equiton Developments’ nascent condominium portfolio, with the acquisition of a land parcel in Toronto’s coveted Broadview North neighbourhood. The Equiton subsidiary has proposed turning the property into Ten99, a 12-storey, 355-unit midrise.
Calgary grants preliminary OK for 28 buildings
Calgary city council has given its tentative approval for Midtown, a 34-acre project by Cantana Investments that would include up to 6,200 housing units as well as commercial spaces and hotels. It would encompass 28 new buildings.
Brookfield prepares to ramp up deal-making
Toronto-based Brookfield Asset Management Ltd. (BAM-T) raised US$20 billion in the first quarter and increased its fee-related earnings, but profits declined as the company prepares for a ramp-up in deal-making.
New zoning to diversify Van. office development
New industrial zoning within the City of Vancouver that took effect in February allows a greater range of office uses in industrial-office projects, adding businesses like medical, dental, legal, accounting, real estate, insurance and other types of typical office work.
Jingon proposes 3.4M-sq.-ft Richmond development
Jingon International Development has proposed a 3.4-million-square-foot development with a hotel, entertainment facilities, shopping and businesses for a 20-acre site in Richmond. The land is currently zoned for industrial.
North Van. approves Three Shores' 21-storey tower
City of North Vancouver council has approve Three Shores Development’s proposal to build 164 strata homes in a 21-storey tower above commercial and office space at 120-128 East 14th St. in Central Lonsdale.
Wesgroup proposes four mixed-use towers in Surrey
Wesgroup Properties has submitted a rezoning application to the City of Surrey for its four-phase Civic District project featuring 65-, 60- 55- and 13-storey mixed-use towers containing over 2,000 residential units as well as office, restaurant and retail space.
The tumultous rise of Claude Lachance
With his $1.5-billion City of the Island real estate project in L’Île-des-Sœurs, Claude Lachance has come a long way. After the lowlands of homelessness, he built Lachance Immobilier, today financed by the Caisse de dépôt and the Fonds.
Villiers Island plan will waste great opportunity
OPINION: Toronto’s public sector is planning a 33-hectare neighbourhood on Lake Ontario. It features fine new parks and vast swaths of empty public land. It represents a once-in-a-lifetime opportunity for dense, creative city-building. And it is being wasted.
iQ Offices debuts workspace in T.O. heritage building
iQ Offices, Canada’s largest independent Canadian-owned coworking operator, is set to open the doors to a reimagined 302 Bay Street in Toronto's financial district. iQ Offices is refining all 14 floors with workspaces, including a rooftop terrace.
Eaglesledge refinery to be solar-powered, may feature CCUS
A fuel refinery by Eaglesledge Energy Ltd. planned for Belle Plaine, Sask., will be powered by a solar facility that could also support an on-site carbon capture, utilization and sequestration (CCUS) system.
Hazelnut Inn set to open in the Fraser Valley
Hazelnut Inn, a new boutique hotel in the Fraser Valley, is opening its doors after years of construction, and it promises a storybook vacation perfect for fantasy lovers and just a two-hour drive from Vancouver.
George Weston Q1 profit down on Choice REIT charges
George Weston Ltd. (WN-T) raised its quarterly dividend as it reported its Q1 profit fell compared with year ago as it was hit by one-time charges related to its large stake in Choice Properties REIT (CHP-UN-T).
U.S. multifamily REITs riding high renewal rates
Optimism abounded on the Q1 earnings calls of the largest U.S. multifamily REITs. Rents are up, concessions are down, and most of the REITs reported all-time lows in the percentage of residents moving out to purchase a house.
WeWork reaches deals to keep 16 more locations
Embattled co-working provider WeWork has come to revised agreements at 16 more U.S. offices, assuming the leases and ensuring it will keep its locations for at least the near future.
Tokyo office rents inch upward in Q1
Tokyo’s office market continues to defy the global deskspace doldrums with rents expected to continue rising and vacancy to remain tight for the rest of 2024, signaling further strength for one of Asia’s hottest real estate investment destinations, Savills says.
Founder says Starbucks needs to refocus on coffee
Starbucks (SBUX-Q) founder and former CEO Howard Schultz says the company’s leaders should spend more time in stores and focus on coffee drinks as they work to turn around flagging sales.
Industry Events
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Quebec City Real Estate Forum
Oct 16 2024
Quebec City Convention Centre
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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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