Paradigm rises at Wesgroup’s Vancouver River District

RENX  Residential, Commercial  •  Condominiums, Office, Apartments, Retail  •  Metro Vancouver

Wesgroup’s master-planned River District community in the southeastern corner of Vancouver is so unique an opportunity, that Brad Jones left his post as vice-president of development at Adera in order to take the lead on building it out.

Couche-Tard seeks U.S. gas station giant Speedway

Commercial  •  Globe and Mail (Sub. required)

Laval-based convenience store giant Alimentation Couche-Tard Inc. (ATD-B-T) is hunting for a partner as it lays the groundwork to mount a multibillion-dollar takeover offer for Marathon Petroleum Corp.’s (MPC-N) Speedway chain in the U.S., a source says.

Distribution centre paying dividends for Giant Tiger

Commercial  •  Ottawa Business Journal

Giant Tiger’s recently opened 600,000-square-foot Johnstown distribution centre south of Ottawa is playing a key role in the discount retailer’s ongoing Canadian expansion. Giant Tiger estimates it has eliminated some 860,000 kilometres in annual transportation distances, saving it roughly $1 million.

Canadians ‘addicted’ to CERB: Dream Office CEO

Commercial  •  Bloomberg  •  RENX

Canadians have become too dependent on financial aid amid the COVID-19 pandemic and the federal government should start encouraging people to return to work, says Michael Cooper, president/chief responsible officer of Dream and CEO of Dream Office REIT (D-UN-T).

DAVIDsTEA closing 82 Canadian stores; exiting U.S.

Commercial  •  Globe and Mail  •  Globe Newswire

DAVIDsTEA Inc. (DTEA-Q) announced in filing for restructuring it is sending notices to terminate leases for 82 of its stores in Canada and all 42 of its stores in the United States. The lease terminations will take effect in 30 days.

Bed Bath & Beyond to close 200 stores over two years

Commercial  •  National Real Estate Investor

Bed Bath & Beyond (BBBY-Q) announced in its quarterly earnings report that it plans to close roughly 200 stores in the next two years. The home goods retailer operates more than 950 of its namesake stores in the U.S. and Canada.

The Saskatchewan Edge › COVID-19 adds new layer of urgency in downtown Saskatoon

Barry Stuart: Managing Partner and Senior Sales Associate , ICR Commercial Real Estate

Metro CEO prepares for post-COVID world

Commercial  •  Canadian Grocer

As grocers continue to grapple with COVID-19, CEO Eric R. La Flèche spoke with Canadian Grocer about everything from Metro’s mission to provide a great customer experience to the extraordinary business of selling groceries during a global pandemic.

Hopewell one of Canada’s busiest industrial developers

Commercial  •  Calgary Herald

Industrial real estate continues to thrive in Calgary and region, and one of the busiest and most successful companies continues to be homegrown Hopewell Development, which has built 15 million square feet across Canada, including six million in southern Alberta.

Low-rise office building offers alternative to towers

Commercial  •  Vancouver Sun

Local entrepreneur Arkun Durmaz was rebuilding an old, low-rise office building in Yaletown when COVID-19 prompted him to tweak his plans. Durmaz started to consider distinguishing his project after a realtor remarked seeing interest in downtown, walk-up office buildings.

Feds dole out $221M in commercial rent aid

Commercial  •  REMI Network

About $221 million in Canada Emergency Commercial Rent Assistance (CECRA) had been disbursed as of July 3, Finance Minister Bill Morneau reported in the 2020 Economic and Fiscal Snapshot. That flowed to more than 29,000 business and non-profit tenants that collectively employ about 209,000 workers.

Top 10 upcoming Alberta, B.C. construction projects

Commercial  •  Daily Commercial News

The accompanying tables shows the top 10 major upcoming Alberta and British Columbia construction projects in Canada. They are all in the planning stage and are mainly new projects, but may also involve additions and/or alterations.

Colony leads $1.2B investment in Vantage Data Centers

Commercial  •  CP Executive

As part of a new $3.5 billion strategic partnership, an investor group led by Colony Capital Inc. will invest $1.2 billion in Vantage Data Centers’ portfolio, which includes 12 stabilized North American data centres, including in Montreal and Quebec City.

Aritzia to open stores in New York and L.A.

Commercial  •  Globe and Mail (Sub. required)  •  Toronto Star

For the retailers that survive the pandemic, opportunities are emerging: less competition and cheaper real estate. That’s the view of Vancouver-based Aritzia Inc. (ATZ-T), which on Thursday announced plans to open two new locations in New York and Los Angeles.

Top 10 U.S. entertainment, stadium/arena projects

Commercial  •  Daily Commercial News

The accompanying tables show the top 10 major upcoming entertainment facility and stadium-arena construction projects in the U.S. They are all in the planning stage and are mainly new projects, but may also involve additions and/or alterations.

Chinese Security Law could be final straw for investors

Commercial  •  Bisnow

A Chinese National Security Law facing worldwide criticism over its approach to cracking down on dissent within Hong Kong is forcing U.S. investors and capital providers to once again ponder China’s future as a destination of global real estate investment.

Tarion creating more accountable new home warranty

Residential  •  Globe Newswire

Tarion has released its Implementation Plan to address the recommendations from Ontario’s auditor general. Of the 25 recommendations directed to Tarion in the report, 11 have been completed, with eight more to be completed by the end of this year.

Home building rebounds, but risks remain: CMHC

Residential  •  Globe and Mail (Sub. required)  •  Canada Newswire  •  Business In Vancouver

Canadian home building rebounded in June according to Canadian Mortgage and Housing Corporation, with a flurry of new condos breaking ground in Toronto and Montreal after the coronavirus pandemic briefly shut down construction in Ontario and Quebec.

Refinancing and mortgage renewal requests soar

Residential  •  Financial Post

Mortgage brokers are reporting some of their busiest months ever due to a surge in inquiries on mortgage renewals and refinances as Canadians rush to take advantage of historically low interest rates that show no near-term sign of rising.

Developer proposes to turn Dion home into resort

Residential, Commercial  •  Laval News

City of Laval officials face a possible public backlash over developer François Duplantie’s plans to convert a small island in the Rivière des Mille Îles – once the home of internationally acclaimed entertainer Céline Dion – into a luxurious private resort.