Tech likely Canada’s saviour if recession hits: Morassutti

RENX  Commercial  •  Technology  •  National

If executives arrived at Real Capital in Toronto with concerns about an economic downturn, CBRE’s Paul Morassutti likely put more spring into their steps. His presentation examined how Canada’s booming technology sector could be an economic and CRE saviour.

Boardwalk, Redwood JV on two-tower Brampton development

RENX  Residential, Commercial  •  Apartments  •  Calgary, Toronto / GTA, Saskatchewan

Calgary-based Boardwalk Real Estate Investment Trust (BEI-UN-T) has partnered with Toronto’s Redwood Properties to build two residential towers totalling 365 rental units in downtown Brampton, Ont. Boardwalk CEO Sam Kolias called Brampton an ideal centre for purpose-built rentals.

Ottawa’s RendezVous LeBreton redevelopment dead

Commercial  •  CBC  •  Ottawa Citizen  •  RENX

Eugene Melnyk and John Ruddy, the feuding partners behind RendezVous LeBreton Group, which won the bid to redevelop LeBreton Flats, have failed to reach an agreement in mediation. Now the National Capital Commission will start the whole process over again.

Saskatoon approves 17-storey Broadway mixed-use tower

Residential, Commercial  •  CBC

City councillors in Saskatoon approved a 17-storey condominium and retail tower. The high-rise at 604 and 610 Broadway Avenue will include two floors of retail, 112 condos and a three-floor underground parkade on what’s currently a gravel parking lot.

Saskatchewan to take ownership of Regina CBC building

Commercial  •  CBC

The Canadian Broadcasting Corporation has agreed to transfer ownership of its Regina building to the Province of Saskatchewan, which plans to make the building the new home of the provincial archives. CBC will lease 30,000 square feet from the province.

Canadian Tire applies to build new Ottawa store

Commercial  •  Ottawa Citizen

Canadian Tire is planning a new store at the Carlingwood Shopping Centre, with an eye on closing its outlet just 2.5 kilometres east on Carling Avenue. Carlingwood has been looking for another retail anchor since the Sears outlet closed in January 2018.

Capital Commentary › Creative financing for a commercial property mortgage

Darryl D. Bellwood: Director of Commercial Lending , First National Financial Corporation

Zahlco proposes mixed-use building for Brantford

Residential, Commercial  •  Canada Newswire

Zahlco Developments announced it has closed on 120-138 Market Street and 31-35 Chatham Street in Brantford. The firm will submit a proposal to build a nine-storey, 205-unit rental apartment building, with 6,500 square feet of ground-floor retail space and four adjacent townhomes.

Six-storey condo proposed for Vancouver

Residential  •  Vancouver Courier

A six-storey residential building could replace six single-family homes along East Broadway between Lakewood and Garden Drives. A rezoning application for the property has been filed, which envisions a project including 87 strata-titled units, 95 underground parking spots and 109 bicycle spaces.

Land transfer tax not solution for Alberta: Economist

Residential, Commercial  •  CBC  •  CityNews

If Alberta wants to raise more tax revenue a land transfer tax is not the solution, according to a report from the University of Calgary’s School of Public Policy. A sales tax or raising property taxes would be better options.

HBC president Alison Coville stepping down

Commercial  •  CBC  •  Globe and Mail (Subscription required)

Alison Coville, the president of iconic retailer Hudson’s Bay, is stepping down. Hudson’s Bay Co. (HBC-T), its Toronto-based parent company which also owns Saks Fifth Avenue and Lord and Taylor stores, did not give a reason for Coville’s departure.

India’s first REIT to be launched in March

Commercial  •  The New Indian Express  •  Times of India

Global investment company Blackstone and realty firm Embassy Group are likely to launch India’s first REIT next month with an estimated issue size of $927 million Cdn.

Edmonton votes to forge ahead with Valley Line West

Commercial  •  Edmonton Journal  •  CTV  •  CBC

A shortlist of contenders vying to build Edmonton’s Valley Line West LRT extension will be announced in May, following a Tuesday city council vote to move the project ahead.

Council delays decision on new arena proposal to Flames

Commercial  •  Calgary Herald  •  CBC

After a marathon session behind closed doors on Tuesday, council will go into overtime next week in search of a decision on an arena proposal to the Calgary Flames.

REIT financial results:

Commercial  • 

CAPREIT, (CAR-UN-T), Globe Newswire

City Office REIT, (CIO-N), PR Newswire

Plaza Retail REIT, (PLZ-UN-T), Canada Newswire

Slate Retail REIT, (SRT-U-T), Business Wire

REOC financial results:

Commercial  • 

Dream Unlimited Corp., (DRM-T), Globe Newswire

New construction house prices slide as condo prices climb

Residential  •  Toronto Star  •  Newinhomes.com  •  Canada Newswire

New construction single-family home prices continued to slide — down 8.1 per cent year-over-year — with a slight $13,459 drop to $1.13 million benchmark at the end of January, compared to $1.14 million a month earlier.

Toronto, Montreal among the worst commutes

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

If you’re sick to death of your commute, pity the poor souls in the areas feeding into Toronto and Vancouver. And if you’re among those poor souls in Oshawa, Barrie, Toronto, Abbotsford and Mission, B.C., you’ve earned that pity.

Landlords challenge New West’s rental-only zones in court

Residential  •  Globe and Mail  •  Financial Post

The first city in B.C. to use new provincial legislation aimed at encouraging developers to build rental apartments is unfairly trampling the rights of long-time landlords, says a group of owners who are suing New Westminster.

B.C. follows Richmond, limits size of ALR homes

Residential  •  Richmond News

The Province of B.C. has confirmed what Richmond is already doing about limiting house sizes in the Agricultural Land Reserve. The province has mandated a B.C.-wide limit of 500 square metres.