Results for: Dow is delaying construction of its $11.6-billion net-zero ethylene cracker facility at its etrochemical manufacturing facility in Fort Saskatchewan, Alta., citing global economic uncertainty and weak demand in the sector. The Michigan-based chemical giant announced Thursday it will scale back capital spending to US$2.5 billion in 2024 — a reduction of up to US$1 billion …
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Aéroports de Montréal (ADM) has acquired a strategically located industrial property in Dorval, Que., from developer Broccolini for $61.5 million, according to multiple reports. ADM serves as the airport authority for the Greater Montreal Area. The property, situated at 10325 Ryan Ave., lies adjacent to a runway at Montreal-Trudeau International Airport and includes two leased …
An Ontario court has approved Tridel’s appointment as project manager, construction manager, and sales manager for The One, the ambitious 85-storey mixed-use tower in downtown Toronto. The move was backed by the court-appointed receiver Alvarez & Marsal and senior secured lender KEB Hana Bank, and takes effect May 1. The decision, made on April 22, …
Don Kottick has been appointed president and CEO of REMAX Canada after recently resigning from the same positions with Sotheby’s International Realty Canada. He will begin his new duties with RE/MAX on Monday. With more than 30 years of experience in the Canadian real estate industry, Kottick brings deep expertise in corporate and franchise development, …
The Caisse de dépôt et placement du Québec (CDPQ) has reported a 10.8% drop in the value of its real estate portfolio for 2024. Although CDPQ posted a strong overall return of 9.4% across its total portfolio, real estate stood out as a major underperformer, according to the pension fund’s annual report released Thursday. The …
One of downtown Edmonton’s most recognizable skyscrapers will soon bear a new name. National Bank of Canada announced that the iconic Manulife Place will be renamed as National Bank Centre as part of the Montreal-based bank’s expansion across Alberta and Western Canada. The rebranding accompanies the previously announced relocation of Canadian Western Bank’s (CWB) headquarters, …
The City of Delta will introduce a new rebate program aimed at accelerating the development of key housing types, especially multi-family projects, the Delta Optimist reports. City council recently approved an amendment to its fees and charges bylaw to launch the Canada Mortgage and Housing Corporation (CMHC) Housing Accelerator Permit Rebate program. “Establishing the rebate …
The Hudson’s Bay Company will begin liquidating all merchandise on Friday at its final six stores, signalling an apparent end to one of Canada’s most storied retail legacies. These locations were initially spared from broader liquidation of the company’s 90 other stores but now face closure after efforts to secure a buyer or investor failed …
Global shipping giant UPS has agreed to acquire Andlauer Healthcare Group (AHG) in a deal that values the Canadian company at approximately $2.2 billion. The acquisition will significantly strengthening UPS’s footprint in the healthcare logistics sector, said the Atlanta-based company. AHG, which specializes in transportation and logistics services for the healthcare industry, operates in nine …
Downtown Calgary is showing strong signs of revitalization as a new city report reveals a $1.8-billion increase in assessed property values since 2022. The increase is driven by record investments and the success of the City’s Downtown Development Incentive Program (DIP), according to the report. Under the DIP, 11 projects have been approved to date, …
Oakridge Park, Vancouver’s largest redevelopment project, will be equipped with 500 electric-vehicle (EV) charging stations supplied by Hypercharge Networks, the company announced. Oakridge Park is the former 28-acre Oakridge mall site. The massive five-year redevelopment is jointly led by QuadReal Property Group and Westbank, which are both based in Vancouver. The former mall is being …
Avril plans to open 10 new supermarkets across Quebec over the next five years, marking a major phase in the grocery retailer’s continued expansion. The company specializes in organic food products. As part of this growth, Avril will open locations in Gatineau and Saint-Jerome—two cities where the brand had not previously set up shop. The …
Lakeridge Logistics Centre (LLC), developed by Pure Industrial, has officially become the largest industrial property in Canada to earn the Zero-Carbon Building (ZCB) Design certification. The certification marks a significant milestone in sustainable development for the country’s industrial real estate sector. Awarded by the Canada Green Building Council (CaGBC), the ZCB certification recognizes new builds …
Congebec, a leading Canadian provider of multi-temperature logistics services, has announced a major expansion through a merger with B.C.-based Bradner Cold Storage. The move creates a robust national cold storage network spanning 16 locations across six provinces: Quebec, Ontario, Manitoba, Saskatchewan, Alberta, and B.C. Founded more than 50 years ago, Quebec City-based Congebec operates 11 …
Several parties have expressed interest in acquiring Hudson’s Bay Company leases as the iconic department-store proceeds through creditor protection. According to a Tuesday court filing, 18 unnamed parties have submitted letters of intent for a total of 65 leases. The report, prepared by Alvarez & Marsal — the court-appointed monitor overseeing the restructuring — indicates …
Groupe Nordik, the Canadian spa company behind the Thermea Spa Village brand, is distancing itself from the Ontario Place redevelopment project scandal. The effort comes after after a New York Times investigation raised concerns about Austria-based Therme’s credentials. Therme is developing a spa project at provincially owned Ontario Place. Groupe Nordik operates spas in Chelsea, …
Vancouver’s new hotel policy will help accelerate development and offset a severe shortage, says Mayor Ken Sim. City council recently approved the new policy to help meet growing tourism demand as major international events loom, including the 2026 FIFA men’s World Cup loom. Council approved amendments to the existing policy in an effort to create …
Calgary’s downtown core is getting set to welcome a new premium co-working space as Pavilion Cowork prepares to open its first location outside B.C. The company, known for its high-end, community-focused workspaces in Vancouver, will launch a 14,906-square-foot space at 550 6th Avenue S.W. this fall. The expansion marks a major milestone for Pavilion, signalling …
Ability Biotherapeutics has preleased the entire sixth floor of the Inspire Bio Innovations project’s second phase in Montreal. Ability is Quebec-based pioneer in next-generation targeted therapies. The announcement, made by developer Jadco Group, marks a major step in the continued transformation of the former Montréal Chest Institute into a world-class life sciences hub. Inspire Bio …
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