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Greybrook, Stafford buy T.O. Adelaide St. development site
Greybrook, Stafford buy T.O. Adelaide St. development site
Greybrook and Stafford Homes have acquired two downtown Toronto office properties on Adelaide Street just east of Yonge Street with the intention of developing a high-rise condominium on the site.
Dow to invest $8.8B in Alberta petrochemical project
Michigan-based Dow Inc. (DOW-N) said it has given the green light to what it calls the world’s first net-zero integrated ethylene cracker and derivatives complex, an $8.8-billion petrochemical megaproject to be built in Fort Saskatchewan, northeast of Edmonton.
Developers delaying projects amid higher rates, rising costs
Metro Vancouver's development industry is navigating a higher-interest-rate environment due to the compounding impact of rapidly rising rates colliding with high construction costs, permitting delays and increasing government fees, taxes and levies, resulting in a slowdown of activity.
 | The Property Law Hub Are written agreements and signatures required to make deals enforceable? Not alwaysDaniel WaldmanLawyer, Dickinson Wright LLP |
Global investors favour Canadian multiresidential: Colliers
Canada’s housing shortage is starting to draw the attention of global investors who are likely to favour Canadian multiresidential properties in 2024, according to Colliers’ Global Investment Outlook Report for 2024.
Capital cost, scarcity a key worry for real estate: PwC
National real estate leader at PwC Canada Frank Magliocco discusses PwC's latest real estate outlook survey that found developers, investors and owners are approaching all asset classes with caution heading into 2024.
Niagara Falls power station to be reborn as $200M hotel
A Niagara Falls architectural landmark will get a new lease on life with Pearle Hospitality revealing plans for a $200 million-plus transformation of the abandoned Toronto Power Generating Station into a hotel.
Mixed-use project coming to ex-Winnipeg police HQ site
Winnipeg's downtown development agency CentreVenture is partnering with the University of Winnipeg Community Renewal Corp. on Market Lands, a mixed-use project featuring an eight-storey, 95-unit residential building, along with an open market and 20,000 square feet of commercial space.
Marlin Spring, Greybrook propose three high-rises
Marlin Spring Developments and Greybrook Realty Partners have proposed 26-, 34- and 43-storey mixed-use condominium towers along The Queensway in South Etobicoke. The Wallman Architects-designed project would include 1,166 residential units and 4,811 square feet of retail space.
Kitchener seeks to extend urban boundary for future dev.
Kitchener, Ont. will ask the province to extend its urban boundary once again for future development. Council had urged the region more than a year ago to include two parcels of land totalling 277 hectares in areas eligible for development.
New terminal coming to Thompson, Man., airport
Funding is now in place to build a new terminal building and ancillary infrastructure at Manitoba's Thompson Regional Airport. Surrounding transportation and water infrastructure will be upgraded as well. In total, it is a $135 million project.
Liz Rodbell rejoins HBC as president and CEO
Hudson’s Bay is undergoing a leadership shakeup with the return of former Bay executive Liz Rodbell as president and CEO, as Canada’s oldest retailer navigates challenges that have led to cost-cutting and delayed supplier payments.
Edmonton budget include 6.6 per cent tax increase
Edmonton property owners can expect a 6.6 per cent tax increase for 2024. Council initially set a 4.96 per cent tax for 2024, but that number rose to 7.09 per cent last month in the draft prepared by city administration.
Halifax removes proposed 9.7 per cent tax hike
Halifax councillors say they are prepared to make hard cuts in the upcoming budget to keep property tax bills from climbing by 9.7 per cent for the average resident as the city faces a shortfall of more than $60M.
CDPQ makes debut U.K. investment
The real estate lending arm of institutional investor Caisse de dépôt et placement du Québec (CDPQ) has made its first debt investment in the U.K. by participating in a $905 million financing for Blackstone-owned property developer St Modwen.
TD plans to grow lending market share as rivals pull back
TD Bank, a subsidiary of Toronto-based TD Bank Group, believes it might be able to pick up more market share in the real estate lending sector and establish new relationships with highly-sought after clients as some competitors curtail their activity.
Blackstone’s flex offices biggest in London as WeWork retreats
Blackstone Inc. has quietly built the largest flexible office brand in London’s central districts. While WeWork’s bankruptcy filing has shaken the sector, demand for flexible space in the U.K. capital has bounced back since the pandemic.
Investors agree to further redemptions delay at Lendlease
Five years after they first requested money from a $2.73 billion U.S. commercial property fund run by developer Lendlease, investors have agreed to further delay the payment deadline to next year as a glum real estate market slows sales.
Forced sales ahead for indebted global markets: M&G
M&G Real Estate forecasts it is "a matter of time" before global property markets face greater volumes of forced selling, with banks increasingly reluctant to refinance troubled or lower quality assets at current interest rates.
China's Powerlong warns of debt default risk
Powerlong Real Estate said on Wednesday its cash on hand and bank deposits would not be enough to cover existing and future debt, making it the latest Chinese property developer that could default.
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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