Hotel industry still struggling to improve occupancy

RENX  Commercial  •  Hotels and Resorts  •  National

The hotel industry has been pummelled by the impact of the COVID-19 pandemic, and occupancy rates in Canada remained below the 30 per cent threshold through most of June, participants heard during a webinar for industry executives.

Judge orders Winnipeg to refund millions to developers

Residential  •  CBC  •  Winnipeg Free Press  •  Global News

A Manitoba judge is ordering the City of Winnipeg to refund millions of dollars it collected in recent years through growth fees it imposed on developers, builders and homeowners in new residential developments at the outskirts of the city.

Go-To proposes 50-storey mixed-use tower

Residential, Commercial  •  Urban Toronto

A proposal from Go-To Developments seeks rezoning to permit a 50-storey mixed-use building at 46 Charlotte — referred to on their website as Spadina Adelaide Square — in Toronto’s Entertainment District. The design features condominium suites, office, and retail space.

WiredScore drafting first global smart buildings cert.

RENX  Commercial  •  Technology  •  National, International

WiredScore has created an international Smart Council, with representatives from some of the largest commercial real estate owners/operators in Canada and the world, to create the first international certification standard for smart buildings.

RioCan proposes 37-storey Midtown Toronto tower

Residential, Commercial  •  Urban Toronto  •  RENX

RioCan REIT (REI-UN-T)  is proposing to a 37-storey mixed-use tower at 2323 Yonge St. The plan calls for a DIALOG-designed building with 328,042 square feet. Approximately 75% of that space would be residential, with the rest devoted to office and street-fronting retail space.

Upscale rental apartment construction up in Calgary

Residential  •  CBC  •  RENX

Some real estate industry analysts are expecting a growth in the supply of purpose-built rental units across Calgary as several large projects are coming online. Altus Group says it’s currently tracking 11 towers under construction in the city centre region.

The People Space › People Space: New CEOs at Zoono, Sienna …

Don Wilcox: Managing Editor

Office not dead yet: Oxford president

Commercial  •  Financial Post  •  Financial Post  •  RENX

VIDEO: Financial Post’s Larysa Harapyn speaks with Michael Turner, president of Oxford Properties Group, on the effect the pandemic has had on commercial real estate, and whether it will get back to normal.

CF pilots drive-in theatre in Markville parking lot

Commercial  •  Retail Insider

Shopping centre landlord Cadillac Fairview piloted a weekend drive-in theatre program at its mall property in CF Markville in Southern Ontario which will likely expand throughout the country to its other mall locations.

York University puts a twist on its newest building

Commercial  •  Globe and Mail

To make the latest addition to its campus a landmark, York University decided to add a twist. Construction has begun of a dramatically tilting building to house York’s School of Continuing Studies and English Language Institute.

CRB opens first Canadian office in Toronto

Commercial  •  Canada Newswire

CRB, a leading global provider of design, engineering and construction services for life sciences and advanced technology clients, announced today it has opened its newest office in the Toronto area, its first in Canada.

Mexican engineering firm picks Windsor for Canadian HQ

Commercial  •  Windsor Star

Officials with the Windsor Essex Economic Development Corporation are hoping the decision by the Mexican firm Eltromex Corp. to locate its Canadian headquarters in Windsor is just the start of an increased flow of industrial investment from that nation.

Tricon changes name to Tricon Residential

Residential  •  Canada Newswire

Tricon Capital Group Inc. shareholders have approved a name change to Tricon Residential (TCN-T). The rental housing company’s common shares and convertible debentures are expected to begin trading under the new name on the TSX shortly.

Granite acquires Texas land for e-commerce warehouse

Commercial  •  Business Wire  •  RENX

Granite Real Estate Investment Trust (GRT-UN-T) announced it has acquired a 36-acre parcel of land in Fort Worth, Texas for the planned future development of a 605,000-square-foot e-commerce and logistics warehouse. The purchase price was approximately $9.0 million Cdn.

‘Exodus’ of CBDs could last two years: M&M

Residential, Commercial  •  CNBC

Coronavirus is pushing U.S. businesses and residents out of city centres and downtowns into the outskirts in the short term, but demand can be expected to return to big cities, according to Hessam Nadji, president and CEO of Marcus & Millichap.

Investors commit more capital to global funds in Q2

Commercial  •  Pensions & Investments

Real estate investors committed more capital to global funds but to fewer managers in Q2 2020, said a report released Wednesday by Preqin. Real estate capital raised increased to $39 billion during the quarter ended March 31 from $28 billion in the previous quarter,

Toronto rental supply jumps as short-term rental market plunges

Residential  •  Toronto Sun  •  Globe and Mail

Toronto is seeing a bump in the number of apartments for rent because properties landlords used as Airbnb rentals have sat vacant for months during the pandemic. Century 21’s Scott Ingram said Toronto’s rental supply is high right now.

B.C. proposes to prohibit strata referral fees

Residential  •  Canadian Underwriter

Brokers placing strata corporation insurance in British Columbia could soon lose their licences and pay thousands in fines if they are found to be paying referral fees to strata property managers.

B.C. eases residential eviction ban

Residential  •  Western Investor

Open houses return to B.C. with new guidelines

Residential  •  CBC  •  Global News

The British Columbia Real Estate Association, the Real Estate Council of British Columbia, the Office of the Superintendent of Real Estate and WorkSafeBC announced new guidelines Wednesday to resume physical home showings by realtors.