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Seeking to create a downtown renewal
Seeking to create a downtown renewal
If there is any question about the emphasis on downtown cores and central business districts of Canada’s major cities, one just needs to attend some of the presentations at Informa’s nationwide series of real estate forums.
Vantage ditches Que. expansion due to power shortage
Vantage Data Centers Canada is abandoning its planned $1.6 billion expansion in Quebec due to a lack of electricity, vice-president/general manager Maxime Guévin confirmed Tuesday. Vantage recently sold two side-by-side buildings in Baie-d'Urfé it had owned since 2021.
Bank of Canada holds key interest rate at 5%
The Bank of Canada is holding its key interest rate at five per cent while not ruling out the possibility of future rate hikes. In an announcement Wednesday, the bank said the economy is slowing, but inflation remains a threat.
Toronto rental construction hits nine-quarter low
According to Urbanation, rental construction in the Greater Toronto Area hit its lowest level in nine quarters in the third quarter, just as the federal government announced legislation to scrap the GST on purpose-built rental projects to help spur growth.
Toronto unveils $36B rental housing plan
The city has unveiled a $36-billion plan to build 65,000 rental homes in Toronto over the next seven years, a target that would require a massive unconfirmed investment from the federal and provincial governments.
Mitchell Cohen: From housing activist to big-time developer
Mitchell Cohen, who literally marched on city hall in early-1970s Montreal to protect the rights of evicted tenants, a decade later joined up with developer John Daniels, the former Cadillac Fairview CEO who’d started his own company.
Jets owner still fine-tuning downtown Wpg. proposal
True North Real Estate Development, which owns the Winnipeg Jets, is still fine-tuning its $550-million proposal to redevelop downtown Winnipeg's Portage Place mall that would see a medical tower and a residential tower rise.
Calgary’s new Event Centre could spur nearby dev.
Calgary’s new Event Centre, which will become the new home of the NHL’s Flames, could be the catalyst for new commercial, retail and residential development in the city’s old Victoria Park neighbourhood just north of Stampede Park.
Construction firm files $17M lawsuit against Wpg.
Bird Construction Group has filed suit against the Assiniboine Park Conservancy and the City of Winnipeg for more than $16.8 million it claims it is owed under a builders’ lien at The Leaf, a $130-million horticultural attraction.
Non-residential businesses also need urban land
OPINION: It is easy to look at a vacant plot of land in any Canadian city and conclude it would be a good place for new homes. But we also need land where we can create, innovate and build things.
B.C.’s construction industry in ‘dire need of relief'
High pressures from interest rates, skilled labour shortage and a lack of prompt payment legislation “paints a dim picture for contractors over the next few years,” the B.C. Construction Association (BCCA) said in a release.
Ottawa wants to make it easier to convert offices to housing
Ottawa's office vacancy rate has ballooned while its rental housing market remains tight, and city staff are looking to streamline building conversions to solve both problems at once in a report to council's planning and housing committee.
ESG data capture key to Starlight’s top GRESB ranking
Starlight Investments’ efforts to invest with impact paid off with a second consecutive leadership spot in the Canadian multifamily category by Global Real Estate Sustainability Benchmark (GRESB), according to Starlight’s vice-president of ESG Marlee Kohn.
Luxury retail market booms with international interest: JLL
Canada’s luxury retail market has seen a significant increase in interest over the past 24 months from international retailers, many of which had already established roots in this country, says Casdin Parr, vice-president of Retail Advisory Services for JLL.
Regional disparities, wildfires impact retail sales
The regional differences in Canadian retail spending are continuing to polarize. The more expensive a location is to live (primarily Ontario and B.C.) the hardest retail is being hit, and those who experienced terrible wildfires through August declined similarly.
Senior, health care REITs set pace: National Bank analysts
National Bank Financial analysts Matt Kornack and Tal Woolley note senior and health care REITS are currently showing the highest average return for investors. They also reduced targets for office an average of 40 per cent.
Brookfield, Qatar invest $668M in Canary Wharf Group
Brookfield and the Qatar Investment Authority have committed to a $501 million Cdn equity injection as well as a $167 million revolving credit facility for Canary Wharf Group, the developer of London’s dockland financial district.
Office developers forced to reckon with their futures
The 12-storey, glass-encased 14th + Spring building was Greenstone Properties' most ambitious project yet when it started construction in 2019. But nearly a year after the speculative 324,000-square-foot project was delivered, the Midtown Atlanta building still sits vacant.
Blackstone in talks with lenders after L.A. office write-down
Blackstone Inc. is in conversations with lenders about the future of a Los Angeles office complex once valued at $583 million, after having written down its entire stake in the property, according to a source.
Country Garden defaults on U.S. dollar bond: Report
Chinese developer Country Garden Holdings has reportedly been deemed in default on a U.S. dollar bond for the first time. Non-payment would put the developer at risk of default on its nearly $11-billion of outstanding offshore bonds.
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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