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Choice Properties reaps benefit of Loblaw connection
Choice Properties reaps benefit of Loblaw connection
Choice Properties REIT (CHP-UN-T) has an “enviable position” among retail-based property owners and operators, president and CEO Rail Diamond told analysts during the trust’s Q1 2020 financial results conference call Thursday.
Vertex, planner tackle Vancouver land-assembly issue
The assembly of detached housing lots has become the norm for Vancouver developers looking to do multifamily residential projects. However, one challenge with land assemblies is the premium which is often paid for the land.
PC Urban’s six B.C. projects moving forward
• BC Business • RENX
PC Urban, whose portfolio spans residential, office, retail and industrial properties, has six B.C. projects under construction. They include two multifamily buildings in Kelowna and Port Moody; a 23-unit townhome complex in North Vancouver; and three IntraUrban light industrial developments.
Feds offer CRE rent relief of up to 75%
• CBC • National Post • Globe and Mail
PM Justin Trudeau announced significant rent relief for businesses that can’t afford to pay their landlords. The federal help, expected to lower rent by 75 per cent for affected small businesses, will be provided in partnership with the provinces and territories.
April Commercial Mortgage Commentary: CMLS
CMLS Financial, one of Canada’s largest, independently owned mortgage services companies, has released its latest Commercial Mortgage Commentary, an in-depth analysis of the commercial mortgage market in Canada.
Allied-Great Gulf mixed-use complex approved
Allied Properties REIT and Great Gulf have been granted zoning approval by Toronto City Council to build a new office, condominium, and retail complex at 540 King West. Initially submitted for rezoning in early 2018, the project evolved in 2019.
Feds present plans to overhaul Place du Portage III
The federal government plans to significantly increase the number of civil servants working in a Gatineau office complex following a major rehabilitation of the aging building in the coming years, according to a National Capital Commission report.
NCC presses pause on LeBreton Flats development
• Ottawa Business Journal • Ottawa Citizen
Ottawa’s National Capital Commission is putting a call for proposals to develop a portion of LeBreton Flats on hold due to COVID-19, the agency said Thursday. The NCC owns the 55-acre parcel of land just west of the downtown core.
Infrastructure work might take time: WSP Global
• Globe and Mail (Sub. required)
Alexandre L’Heureux, CEO of WSP Global Inc., (WSP-T), Canada’s biggest engineering firm, is expressing doubts about how quickly governments around the world will be able to get new infrastructure projects off the ground to power an economic recovery.
Cities seek at least $10 billion from Ottawa
• Globe and Mail • Globe and Mail
Canada’s cities are asking for at least $10 billion in emergency funding from the federal government, warning they are running short of money to keep essential services going. Toronto and Montreal mayors warned their cities could not cope on their own.
COVID-19 upends economics of the urban core
• Financial Post • Policy Options • Ottawa Citizen
CRE clusters in urban cores represent 10s of billions in investments. The underlying assumption has been that the physical location of a firm’s offices is instrumental to its success. COVID-19 has changed that.
Sask. businesses could start reopening in May
• Globe and Mail • Global News • Financial Post
Dentist offices, hairdressers, golf courses and retail stores could be allowed to reopen starting in May under Saskatchewan’s plan to refire parts of its economy during the COVID-19 crisis. The five-phase plan was presented Thursday.
Chinese investors expected to pull back from overseas RE
Institutional investors and developers based in Mainland China are expected to not only slow down their outbound investment into overseas real estate markets, but increase their dispositions, especially with the economic uncertainty arising from COVID-19.
Bell Partners U.S. apartment fund reaches $950M
Bell Partners has so far raised $950 million for its latest U.S. value-add apartment fund according to the Ohio Bureau of Workers Compensation Board (BWC).
Industrials not immune from COVID-19 fallout
“We think that, for the industrial sector, any short-term gain from an increase in online shopping will be outweighed by the plunge in demand and subsequent collapse in global trade,” Capital Economics says.
Legal battles loom as U.S. businesses sue insurers
A once-bustling bar and grill tucked below a Michigan Avenue overpass famously inspired a “Saturday Night Live” skit starring John Belushi and Bill Murray. However, the money the Billy Goat Tavern is losing during the coronavirus outbreak is no joke.
Small landlords scramble to grant rent reductions
When businesses began temporarily closing amid the COVID-19 pandemic, several tenants in David Cinelli’s two rental properties lost income. The Toronto-based realtor and landlord reached out to his tenants, offering rent deferrals or partial payments to those struggling financially.
Quebec sales increase for 23rd consecutive quarter
The Quebec Professional Association of Real Estate Brokers‘ (QPAREB) market statistics indicate 27,817 Quebec residential transactions were concluded in Q1 2020, an 18 per cent increase year-over-year and the 23rd consecutive quarterly increase in sales.
GTA new home building largely on hold
New-construction home sales were heading into what should have been a roaring year, with the second strongest March in 20 years. David Wilkes, CEO of Building Industry and Land Development Association, said he expects April will tell a far different story.
Group of Seven artist’s North Van. house for sale
A North Vancouver house where Group of Seven artist Frederick Varley (1881-1969) lived and painted in is for sale at $799,000. The house went on the market Wednesday, said Matt Council, one of four realtors on the Rossetti team selling the property.
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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