Location, location: Value of GTA multifamily land sales dips

RENX  Residential  •  Condominiums, Apartments  •  Toronto / GTA

A decline in the value of Greater Toronto Area land transactions for multifamily development sites during Q1 2020 can be attributed to the location of the properties, not the COVID-19 pandemic, according to market expert Ben Myers.

Dream private equity arm to invest billions in CRE

Commercial  •  Globe and Mail (Subscription required)  •  IPE Real Assets

Dream Unlimited (DRM-T) is launching a private equity arm, with plans to raise several billion dollars to invest in commercial property in North America and Germany after the coronavirus pandemic.

Global CRE insurance pricing rises by 14% in Q1

Commercial  •  Reuters  •  CBC  •  CPO Magazine

Global average commercial insurance prices increased 14 per cent in the first quarter, driven in part by rises in property insurance rates, insurance broker Marsh said Monday. The change marks the highest year-over-year increase since 2012, when Marsh launched its global  index.

The People Space › People Space: New OMERS COO, moves at Teachers’, Caisse…

Don Wilcox: Managing Editor

bcIMC, QuadReal propose new rental tower

Residential  •  Urban Toronto

bcIMC and QuadReal Property Group have proposed a 37-storey, Sweeny&Co Architects-designed tower that would bring hundreds of new rental units at Toronto’s 30 Merton St., while replacing the existing commercial parking within the redevelopment.

Golpro proposes two-tower mixed-use Ottawa project

Residential, Commercial  •  Ottawa Citizen

Ottawa developer Golpro Holdings is proposing two towers of 24 and 28 storeys at Baseline Road and Clyde Avenue. The 468-unit project would replace the strip plaza at 1356 Clyde Ave. Local firm Roderick Lahey Architects would design the buildings.

Sponsored by First National Financial LP Pulling together to meet Toronto’s affordable housing crisis

Ridgeford Charitable Foundation has provided affordable housing in Toronto’s east end for almost four decades.  During this period, the city’s population has expanded exponentially but the supply of affordable housing has not. Ridgeford decided to do something about it.

Manitoba Métis acquire historic BMO building

Commercial  •  CBC  •  Global News  •  CTV

The Manitoba Métis Federation has struck a deal to buy the historic Bank of Montreal building in downtown Winnipeg to ring in the province’s 150th birthday. MMF president David Chartrand said it will house the Métis Nation Heritage Centre.

Mall shopping a new experience during pandemic

Commercial  •  Winnipeg Free Press

At CF Polo Park in Winnipeg, a security guard tells you to follow the arrows on the floor. The food court and the majority of the stores are closed, but the ones that open are all going about things differently.

Calgary malls prepare to reopen to uncertain landscape

Commercial  •  Calgary Herald

As some Calgary shopping malls prepare to open as early as this week, leadership across the retail industry have been planning and working on determining the best way to do so while ensuring the safety of customers, staff and tenants.

Starbucks to reopen 85% of Canadian stores in May

Commercial  •  Daily Hive  •  Global News  •  Business Insider

Starbucks (SBUX-Q) is on track to open 65 per cent of its Canadian locations by the end of this week and resume operations in 85 per cent of stores by the end of May.

Tims hopes to reopen dining areas next month

Commercial  •  Financial Post  •  Canada Newswire  •  Reuters

Tim Hortons (QSP-UN-T) executives are meeting with franchisees this week to map out a return to normal, starting with reopening dining rooms as soon as provincial governments say it’s OK for customers to sit down in restaurants again.

Proposed $5.6B plastics plant moving out of Prince George

Commercial  •  CBC  •  Prince George Citizen  •  PrinceGeorgeMatters

Plans to build a $5.6-billion plastics plant in Prince George, B.C., have been scrapped following an environmental backlash. West Coast Olefins CEO Ken James said he hopes to build the plant near McLeod Lake, about 140 kilometres north of the city.

AMC surges 56% on Amazon takeover talk report

Commercial  •  Financial Post  •  MarketWatch

AMC Entertainment Holdings Inc. (AMC-N) jumped as much as 56 per cent on a media report Amazon.com has discussed a potential takeover of the largest U.S. movie-theatre owner, though it pared the gains when another outlet said the companies aren’t talking.

COVID-19 is transforming life sciences real estate

Commercial  •  Globest.com

According to CBRE’s US Real Estate Market Outlook 2020, from 2014-2019 life sciences real estate (inclusive of medical office), accounted for an annual average investment of $18.7 billion. COVID-19 has transformed the asset class from one of excitement, to one of existential importance.

Apple set to reopen U.S. stores

Commercial  •  La Presse

Apple Inc. (AAPL-Q) will reopen stores in the U.S. this week, with measures of social distancing, in some states which have started deconfinement, in accordance with the will of the American president who calls for a restart of economic activity.

Work-from-home success surprises energy CEOs

Residential, Commercial  •  CBC

Work-from-home measures taken to control the spread of the COVID-19 pandemic are challenging long-held assumptions about how Canada’s oil and gas sector should provide and care for its office workers.

Housing sales and prices marching to different tunes

Residential  •  Financial Post

April sales data from some of Canada’s large markets confirm fears that housing sales are continuing to dramatically decline, but while volumes have plummeted, prices are more stable or even rising in some sub-markets.

Cities post-COVID-19: It’s time to be bold

Residential, Commercial  •  Globe and Mail (Sub. required)

OPINION: The COVID-19 pandemic has turned everything upside down and there is the opportunity to make better choices than in the past. COVID-19 offers Toronto the opportunity to make new policy on transportation, housing and (a bigger category) resilience.

TCU cuts number of units in Ottawa apartment proposal

Residential  •  Ottawa Business Journal

Ottawa developer TCU Development Corp. has reduced the number of units in a controversial apartment building proposed for Sandy Hill and added more parking after its original plan was appealed to the provincial Local Planning Appeal Tribunal.