Constantine Enterprises builds, expands GTA holdings

RENX  Residential  •  Condominiums, Apartments  •  Toronto / GTA

Constantine Enterprises Inc. is a relative newcomer to the Greater Toronto Area real estate scene, but its founders Robert Hiscox and Edward Rogers (the chair of Rogers Communications) have aggressively pursued developments, properties and related business lines.

Triple Five enters agreement to stay out of foreclosure

Commercial  •  Star Tribune

Edmonton’s Triple Five Group, the owner of the Mall of America, continues to be months behind on its mortgage payments and has entered a cash-management agreement to avoid foreclosure. Mall of America needed to close in March due to coronavirus.

Victoria office market outpunches Edmonton’s

Commercial  •  Western Investor

A stark comparison has emerged in the office markets of the capital cities of B.C. and Alberta this year as much smaller Victoria punches above its weight in every comparative metric, including sales volume, indicates a report from Colliers International.

COVID ‘was an accelerator’ for Pomerleau

Residential, Commercial  •  La Presse

Far from having slowed down the construction sector, the forced shutdown of sites for six weeks due to the pandemic has projected it into the future, says Pierre Pomerleau, CEO of Pomerleau, one of Canada’s biggest players in the industry.

Ont. expanding subway extension to Mississauga

Residential, Commercial  •  Mississauga.com  •  BlogTO  •  Global News

The provincial government announced on Wednesday that it plans to build the Eglinton Crosstown West Extension (ECWE), a 9.2-kilometre extension from the future Mount Dennis Station to Renforth Drive in Mississauga.

Ottawa withholding millions from LRT builder

Commercial  •  CBC  •  Ottawa Citizen  •  CTV

OC Transpo boss John Manconi says the city continues to withhold millions of dollars from Rideau Transit Group (RTG) over ongoing problems with Ottawa’s new LRT. Manconi said the city has paid out approximately one-quarter of RTG’s bill.

Value: Weighed and Measured › A tale of two markets, as homebuyers fulfill real estate dreams

John Clark: AACI, FRICS | Vice President, The Regional Group of Companies Inc.

Ottawa to review main + main high-rise proposal

Residential  •  Ottawa Business Journal

Toronto-based developer main + main‘s proposal to build high-rises of 23, 29 and 35 storeys with about 930 residential suites at the southwest corner of Albert and Lyon Streets will be the subject of debate at Thursday’s Ottawa planning committee meeting.

C Squared reduces office building proposal

Commercial  •  Urban Toronto

C Squared Properties’ revised plans for 580 King West have reduced the office building from 15 to nine storeys. The AUDAX architecture-designed 38,000-square-foot proposal includes a two-storey base element comprised of the adaptive reuse of the heritage-listed Davis & Henderson Building.

Harhay’s twisting Etobicoke condo project refined

Residential  •  Urban Toronto

A refined plan for four twisting condo towers in Etobicoke has been submitted to the City of Toronto by Harhay Developments alongside an application for Site Plan Approval. The proposal for 900 The East Mall was first submitted in October 2019.

All Cineplex theatres across Canada will be open today

Commercial  •  CBC

Cineplex Inc. (CGX-T) says its 164 theatres, 1,687 screens and 10 entertainment complexes will be open today. Toronto-based Cineplex believes it is the first of the world’s major film exhibitors to reopen its entire network of locations.

June retail sales topped pre-pandemic levels: StatsCan

Commercial  •  Toronto Star  •  Montreal Gazette

Statistics Canada reports retail sales soared 23.7 per cent in June to $53.0 billion, climbing above pre-pandemic levels for the first time as more parts of the country moved ahead with plans to reopen their economies.

CBL Properties prepared to file for bankruptcy

Commercial  •  Bisnow

Mall owner CBL Properties is expected to file for bankruptcy by the end of September, after months of being pounded by pandemic-related closures and a dried-up stream of rent that cannot sustain payments on its $3 billion in debt.

OMERS to ramp up exposure to Asia-Pacific infrastructure

Commercial  •  IPE Real Assets

Canadian fund OMERS is poised to step up its exposure to Asia’s infrastructure market, focusing on renewables, telecommunications and transport. OMERS Infrastructure managing director Prateek Maheshwari said: “The intention is to further grow the success we have in the region.”

COVID-19 pounds NYC real estate worse than 9/11

Residential  •  Mansion Global

What Amazon’s Lord & Taylor move means for NYC

Commercial  •  Commercial Observer  •  CNBC

E-commerce behemoth Amazon will open a 650,000-square-foot outpost at Lord & Taylor’s former 424 Fifth Avenue flagship, bucking the trend of many companies downsizing their portfolio after seeing the success of remote work during the coronavirus pandemic.

Canadian property techs suffer from data starvation

Residential, Commercial  •  Financial Post

While prop-tech is thriving in the U.S., it has not caught on to the same degree in Canada. The problem isn’t a lack of innovative algorithms — it’s access to data. 

Real estate sector braces for autumn uncertainty

Residential  •  Ottawa Business Journal  •  Canada Newswire  •  Reuters

Canada’s housing market shattered records in July despite the economic uncertainty surrounding the COVID-19 pandemic – and with the usually busy fall real estate season drawing near, experts are divided about whether the boom will continue.

Pandemic changing Ontario home buyers preferences

Residential  •  Globe and Mail

Around one-third of adults active in Ontario’s real estate market say the pandemic has changed what they want in their next home, according to the Ontario Residential Real Estate Monitor’s July report.

Tiny Toronto house sells for $800K over asking

Residential  •  CTV  •  Toronto Storeys

A tiny Toronto house that hit the market for $1 million has just sold for $800,000 over its asking price. The two-bedroom, one bathroom home on Euclid Street in Little Italy went up for sale in July and received plenty of attention.