Exporting Quebec’s à-la-carte seniors housing across Canada

RENX  Residential  •  Seniors Housing  •  National, Quebec

Quebec’s popular seniors housing model can work elsewhere in Canada, but will require municipalities to change their existing regulations. That was one conclusion of a panel on Quebec’s à-la-carte seniors housing during the Quebec Apartment Investment Conference in Montreal.

Downtown Edmonton multi-res boom: 14 projects on the books

RENX  Residential, Commercial  •  Condominiums, Apartments  •  Edmonton

An expected boom in Edmonton’s downtown population is credited for driving residential construction and positive prospects for commercial leasing. Colliers’ Q4 office market report shows 2018 was the first year of positive office space absorption in Edmonton in four years.

RioCan to increase focus on office properties

Commercial  •  Globe and Mail (Subscription required)  •  RENX

Office properties will be a bigger part of RioCan Real Estate Investment Trust’s (REI-UN-T)  business, as the Canadian mall owner overhauls operations and reduces its exposure to underperforming shopping centres in small cities.

Sidewalk Labs plans massive expansion to waterfront vision

Residential, Commercial  •  Toronto Star  •  Toronto Star

Google’s futuristic development on the eastern waterfront, Quayside, is only the first step in an expansive and ambitious plan to build new neighbourhoods — and new transit — throughout the entire Port Lands, the Toronto Star has learned.

Amazon scraps plans for New York HQ2

Commercial  •  CP Executive  •  Toronto Star  •  Quartz

Amazon is breaking up with New York City. The company led by billionaire Jeff Bezos announced it was pulling out of its plan to build an HQ2 in Long Island City, Queens, due to opposition from state and local politicians.

Canadian firms eye bonanza in Indian real estate

Residential  •  Reuters

Piramal Enterprises and Ivanhoe Cambridge last week announced a $70.15 million investment in Palava — a project on the outskirts of India’s financial hub, Mumbai. Canadian asset management firm Brookfield Asset Management nearly doubled its bets in the space to over $1 billion, from $450 million.

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Ottawa could be part of mega-region: Report

Residential, Commercial  •  CBC  •  Ottawa Business Journal  •  Ottawa Citizen

The City of Ottawa hired two Toronto consultants to gaze into the city’s future and present various scenarios. In their report, the consultants said Ottawa can be part of a mega-region including Toronto and Montreal.

Bringing high co-working standards to secondary markets

Commercial  •  CP Executive

Throughout 2018, co-working continued to grow at an unexpectedly high pace. According to Yardi Matrix data, the sector grew by 62 percent across 20 U.S. office markets, amounting a total 44 million square feet of flexible space in Q4 2018,.

Toronto tenants propose class-action against T.O. high-rise

Residential, Commercial  •  Globe and Mail

Some residents of a high-rise in St. James Town have proposed a class-action lawsuit against the owners and management of their building at 260 Wellesley St. East after losing power, water and heat for three days.

Alberta city introduces tax breaks to encourage development

Residential, Commercial  •  CBC

The City of Chestermere is introducing a big tax break to encourage economic development. The municipality about 25 minutes east of Calgary announced it will offer a tax reduction for new building constructions if the buildings are developed and occupied quickly.

REOC financial results:

Commercial  • 

Brookfield Asset Management, (BAM-A-T), Globe Newswire

The epic rise of industrialized construction

Commercial  •  Building Design & Construction

The construction industry is facing colliding forces that render our current trajectory wasteful, inefficient, and unsustainable. Enter prefabrication and modular construction, which is predicted to grow at 6.50% CAGR between 2015 and 2020.

Industrial continues as healthiest U.S. market

Commercial  •  Globest.com

Codina Partners launched leasing for the newest logistics and distribution built-to-suit park in South Florida, Beacon Logistics Park, which on completion will span more than 1.3 million square feet of space.

Singapore CBD office rents jump nearly 15%

Commercial  •  Mingtiandi

Grade-A offices in Singapore’s Central Business District (CBD) posted the highest annual rental growth since 2010 – nearly 15 per cent – due to tightening vacancies, according to real estate services firm Colliers International.

Hong Kong malls offer shelter from retail gloom

Commercial  •  Bloomberg

Hong Kong’s high-end retail sales have gone from boom to bust. There’s still growth to be found, however, and the best route may be shares of mall owners rather than the businesses that are their customers.

Coquitlam battles ‘illegal apartment buildings’

Residential  •  Tri-City News

While it reviews what to do in the long run, the City of Coquitlam is going to start by immediately limiting new homes in the area to 5,500 square feet.

January home sales weakest since 2015: CREA

Residential  •  Vancouver Sun  •  Canada Newswire  •  Newinhomes.com

The Canadian Real Estate Association says last month was the weakest January for residential sales since 2015, with the number of transactions down four per cent nationally from last year.

Home building permits in Saskatoon lowest in 12 years

Residential  •  Saskatoon StarPhoenix

Last year, the number of new homes being built in Saskatoon dropped to the lowest level since 2006. The number of building permits for all categories of homes dropped substantially in 2018 compared to the year before.

Toronto man shares $1-M prize for price predictions

Residential  •  Globe and Mail

A Toronto data scientist is sharing a million-dollar prize for helping online real estate listings service Zillow Group make a more accurate “Zestimate” to predict the sales price of a home.