T.O. slips, smaller cities rise in Tech Talent report

RENX  Commercial  •  Technology, Human Resources  •  National, International

Toronto and Montreal lost ground and Vancouver held its position, but the real Canadian winners in CBRE’s 2020 Scoring Tech Talent Report were Ottawa, Waterloo Region and Calgary.

Austrian firm favourite for Ontario Place project

Commercial  •  Toronto Star

Provincial sources have suggested the favourite in the controversial redevelopment of Ontario Place is Therme Group, an Austria-based developer of glass-encased “wellness resorts” with real palm trees surrounding pools, saunas, indoor beaches and water slides.

$500M plan selected for downtown Hamilton

Residential, Commercial  •  CBC  •  Hamilton Spectator

The winning proposal of the multi-million dollar renovation to Hamilton’s downtown entertainment facilities proposes changes to FirstOntario Centre, FirstOntario Concert Hall and the Hamilton Convention Centre as well as a series of high-rises. The winning bidder includes Fengate Asset Management.

WalMart plans new GTA warehouse, $3.5B investment

RENX  Commercial  •  Industrial, Technology, Retail  •  National, Metro Vancouver, Toronto / GTA

WalMart (WMT-N) has announced a fifth distribution centre in the GTA as part of a five-year, $3.5-billion commitment to its Canadian operations. It joins a 300,000-square-foot facility being built in Surrey and upgrades to a distribution centre in Cornwall, Ont.

Carbonleo pushing ahead with Mtl. project

Residential, Commercial  •  CBC  •  RENX

COVID-19 is not deterring the developers behind the Royalmount project in Town of Mount Royal. In February, Carbonleo detailed a complete redesign of its massive shopping, residential and entertainment complex that incorporates greenery, public transit and 3.8 kilometres of pedestrian paths.

Real Estate Wealth Insights › Private real estate: An essential portfolio component

Greg Placidi: Chief Investment Officer & Portfolio Manager, Equiton Capital

Principles released for Van. Jericho Lands project

Residential, Commercial  •  Vancouver Sun

The city of Vancouver has released its “draft guiding principles” for the giant Jericho Lands development. The 90-acre site is co-owned by MST Development, a company owned by three local First Nations.

Vancouver builders laud sped-up permit process

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

Before March, Vancouver’s architects, builders and tradespeople negotiated for permits at City Hall in a way that was reminiscent of the 19th century. That’s all vanished, for the moment. Meetings are virtual. Plans and drawings can be sent online.

No end to Ottawa office space crunch in sight

Commercial  •  Ottawa Business Journal  •  RENX

Despite a rise in teleworking, CBRE Ottawa managing director Shawn Hamilton doesn’t expect a wave of new office inventory to flood the market. “My sense is the story won’t be as dramatic as some might think it could be.”

Downtown Mtl. a ghost town waiting to be revived

Commercial  •  Montreal Gazette

Visitors to Humble Lion’s McGill College Avenue coffee shop are greeted by a hand-drawn rainbow on a chalkboard featuring the ubiquitous “Ça va bien aller” slogan — altered to read “Café bien aller” — with a big question mark underneath.

DAVIDsTEAs creditors owed $17.3M in back rent

Commercial  •  Straight

Montreal-based DAVIDsTEAs creditors are collectively owed $17.3 million. Subsidiaries of Ivanhoe Cambridge are owed $658,286.36. This figure includes $69,677.88 at Metropolis at Metrotown and $68,932.88 at Tsawwassen Mills. CF Pacific Centre in Vancouver and CF Richmond Centre in Richmond are owed $91,554.92 and $43,001, respectively.

Damaged crane successfully dismantled in T.O.

Commercial  •  Daily Commercial News

A large, damaged crane has been successfully secured and removed from a downtown Toronto construction site after hitting an adjacent building last week.  The incident occurred on a PCL Constructors construction site at 160 Front St. near Simcoe and Wellington Thursday.

Landlords getting more flexible in office leasing

Commercial  •  Bisnow

The coronavirus has prompted landlords to think about how they can incorporate elements of the flexible office model into bigger and bigger office leases, panelists said during a Bisnow webinar about the future of office last week.

Global insurers favour warehouses over offices

Commercial  •  Reuters

Global insurers want to increase investments in commercial warehouses as their stakes in office space become riskier because of employees working remotely during the novel coronavirus pandemic, Goldman Sachs Asset Management (GSAM) executives said.

CRE owners regularly take cash out of properties: Law firm

Commercial  •  MarketWatch

“The real-estate industry is all about taking cash out, and on a tax-deferred basis, at that,” said Herrick Feinstein LLP‘s Scott Tross. “But in many respects, what’s happening now is reminiscent of what happened 10 years ago or so.”

Will adaptation put Simon ahead of the curve?

Commercial  •  propmodo

Simon Property Group (SPG-N), the U.S.’ largest retail REIT and mall owner, is teaming up with Fillogic, a logistics-as-a-service platform for retail. The partnership will allow Fillogic to expand its tech-enabled micro distribution centres.

Van. strata wins 5-year battle against Airbnb operator

Residential  •  CBC

Real estate agent Zulkider Jiwa, who has managed several Airbnb listings in an East Vancouver building for years, has been ordered by the B.C. Civil Resolution Tribunal to stop using his condos as short-term rentals.

Oakridge-area firm wants to consolidate social housing

Residential  •  Vancouver Sun

Modern Green Canada wants to rezone a prime piece of real estate across from Oakridge Centre so its 300 social housing units are all in buildings on one parcel instead of being spread across the project and alongside market units.

Multifamily investors enjoy record-low rates

Residential  •  Western Investor

Multifamily investors buying buildings worth $5 million or more can now access Canada Mortgage and Housing Corp. insured mortgages at 1.3 per cent for five years and 10-year loans at 1.7 per cent, the lowest rates ever offered.

Who would control smart city data?: Opinion

Residential, Commercial  •  Toronto Star

Should Toronto attempt another smart-city project over the next decade, it’s the control and distribution of that human data — its governance — that will make or break the venture, says Ryerson University’s faculty of communication and design’s Richard Lachman.