Strategic Group to repurpose empty Calgary office space

RENX  Residential, Commercial  •  Office, Apartments  •  Calgary

Calgary’s Strategic Group has launched an aggressive plan to repurpose under-utilized office space for residential use as it anticipates future growth in this segment of its portfolio. The company is bullish on the residential market, says CEO Riaz Mamdani.

Adi adds tech, innovation to Valera condo development

RENX  Residential  •  Condominiums, Technology  •  Toronto / GTA

Adi Development Group is hoping a healthy dose of innovative in-suite technology and a private car-sharing program will make phase two of its Valera condominium development in Burlington, Ont., even more attractive to potential purchasers.

Devimco plans $2.5-B Montreal project

Residential, Commercial  •  La Presse  •  RENX  •  Montreal Gazette

Devimco Immobilier has been working for two years on the creation of a job centre and 4,500 dwellings on the grounds targeted by supporters of the return of Major League Baseball to Montreal. The estimated value of Devimco’s project is $2.5 billion.

Pangman plans two new downtown Edmonton towers

Residential, Commercial  •  CBC

A huge development proposed for downtown Edmonton’s main drag could house thousands and add two new towers to the city’s skyline. The Pangman Development Corporation project would sit on the northeast corner of Jasper Avenue and 108th Street.

Developers fear Hamilton LRT line may be cancelled

Commercial  •  CBC

Developers who have bought up land along Hamilton’s light-rail transit (LRT) line are holding off in fear the $1-billion project won’t happen. That’s the analysis from Glen Norton, the city’s head of economic development.

DND’s arrival sparks building boom in Bells Corners

Commercial  •  Ottawa Business Journal

Several property developers and business owners are taking a renewed interest in Ottawa’s Bells Corners, attracted in part by development incentives and the growing presence of the nearby Department of National Defence headquarters.

Sponsored by CMHC Be a part of Canada’s next generation of affordable rental housing

The rental market is an important housing option for approximately 30 per cent of Canadians including middle class families, young adults, seniors and new immigrants. Currently, around 1.7 million Canadian families don’t have a home that meets basic needs…

The curious politics of a Montreal mega-mall

Commercial  •  CityLab  •  RENX

A plan to transform an industrial pocket of Montreal into a $5-billion luxury mega-mall and housing complex is exposing cracks in the city’s planning process. The land belongs to Town of Mount Royal (TMR), an affluent 20,000-person community.

U of T plans for iconic golden architecture

Commercial  •  Globe and Mail (Subscription required)

Next to the Crystal, Toronto could be getting a grand new golden box. The University of Toronto has submitted plans for a new building just south of the Royal Ontario Museum, where the old McLaughlin Planetarium now stands.

The Saskatchewan Edge › Saskatchewan’s commercial property taxes below average

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

A&G Realty to sell 2,587 Payless Store leases

Commercial  •  PR Newswire  •  Ottawa Citizen

A&G Realty Partners announced it has been retained to manage the sale of 2,587 Payless ShoeSource store leases across the U.S.  and Canada. Payless filed for bankruptcy protection on Feb. 18 and announced it planned to close all of its North American stores.

Metro’s transfer of 10 Quebec pharmacies approved

Commercial  •  Canadian Grocer

The Competition Bureau says it’s approved the transfer of Metro Inc.’s interests in 10 retail pharmacies in Quebec to two other companies. The bureau and Metro reached an agreement to address concerns around the $4.5-billion acquisition of The Jean Coutu Group.

Minnesota franchisee sues Tim Hortons, RBI

Commercial  •  Financial Post  •  Globe and Mail (Subscription required)

A company that entered into an agreement to open hundreds of Tim Hortons restaurants in Minnesota filed a lawsuit against the chain and parent company Restaurant Brands International (QSR-T) Wednesday alleging they misled and over-charged the franchisee.

European hotel investment hits record levels

Commercial  •  CP Executive

It has been a year of superlatives for the European hotel sector, according to a new fourth-quarter report from CBRE. 2018 saw a record high for investment in European hotels: $34.3 billion Cdn, a 3.4 per cent bump from 2017.

REOC financial results:

Commercial  • 

Dream Alternatives, (DRA-UN-T), Globe Newswire

Temple Hotels Inc., (TPH-T), Canada Newswire

REIT financial results:

Commercial  • 

Dream Global REIT, (DRG-UN-T), Globe Newswire

Summit Industrial Income REIT, (SMU-UN-T), Canada Newswire

Ontario to create new home warranty regulator

Residential  •  CBC  •  Toronto Star

Ontario has announced changes for new home warranties, including moving oversight for new home builders and vendors away from the corporation that provides the warranties. Queen’s Park says establishing a separate regulator will address a conflict of interest.

Homebuilders seek closer ties: BCREA

Residential  •  Victoria Times Colonist

The best thing the province could do to stabilize the housing market would be to work with local governments to find ways to encourage builders to continue building even during slow periods, said B.C. Real Estate Association’s Cameron Muir.

B.C. budget predicts end to real estate correction

Residential  •  Globe and Mail  •  Victoria Times Colonist  •  Western Investor

The B.C. budget tabled Tuesday is forecasting the real estate correction that drove down sales and prices in 2018 is over, and that property tax revenues will rise this year to help fund climate action programs.

Squamish, B.C., considers protections for 309 rentals

Residential  •  Squamish Chief

Faced with an ongoing housing shortage, Squamish council is considering using its new provincially granted powers to protect 309 rental units across 12 buildings. “The option is to look at those properties and change the zoning . . .,” said District planner Matt Gunn.