Rachel Julien has launched the first two phases of its Canoe mixed-use residential development project in Montreal. The project is located at 4500 rue Hochelaga in the city’s Mercier—Hochelaga-Maisonneuve district. The launch coincided with the company’s 30th anniversary celebration. “Rachel Julien’s mission has always been to create living spaces that meet the needs of citizens, and …
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Crestpoint Real Estate Investments has unveiled its upgrades to a 540,000-square-foot downtown Toronto office tower. The company has revamped 121 King West into Roserock Place, a commuter-friendly hub situated in the city’s financial district. The revitalization is part of a trend whereby Canadian investors and developers are upgrading downtown office properties to offset vacancy and …
Commercial real estate industry leaders want to have a say in revisions to Calgary’s Calgary’s proposed Green Line revisions. NAIOP and BOMA, along with the Calgary Downtown Association, have issued a joint letter to Premier Danielle Smith, Transportation Minister Devin Dreeshen and Mayor Jyoti Gondek, calling for a commercial real estate industry advisory committee to …
Bank of Canada Governor Tiff Macklem is widely expected to introduce an oversized interest-rate cut on Wednesday. Most analysts anticipate that the central bank will announce a 50-basis-point reduction, according to multiple reports. The large cut is anticipated after the BoC implemented three consecutive summer reductions, dropping the overnight lending rate to 4.25%. “Once you …
Condominium values in the Halifax Regional Municipality (HRM) have seen a modest uptick in 2024, but sales have declined dramatically, says a Remax report. The average HRM condo price edged up to $484,491 in the first eight months of the year, said the real estate services company. That price marks a 1% increase compared to …
An unidentified buyer has agreed to purchase a stratified rental-apartment building near Vancouver General Hospital. The deal is firm and slated to close in November, Goodman Commercial reported in a listings update. Goodman represented the sellers, a husband-and-wife team, in the transaction. Financial terms were not disclosed. The property is situated at 1076 West 11th …
Canadian housing starts rose 2% year-over-year from January to September, according to the Canada Mortgage and Housing Corporation’s latest monthly housing report. Total actual housing housing starts reached 168,897 units in urban centres from January to September 2024, compared to 165,559 during the same period in 2023. Multi-residential unit starts climbed to 136,811 from 134,099 …
Northcrest Developments has launched a global design competition for the Runway at YZD in Toronto. Once home to the historic Downsview Airport, YZD is regarded as one of the most ambitious city-building projects in North America. The $30-billion YZD project involves the redevelopment of the former Downsview Airport. The Runway is the airport’s former airstrip. …
Britain’s Valor Real Estate Partners and Canada’s QuadReal Property Group have acquired two prime last-mile logistics sites in London for a total gross development value (GDV) of £60 million. London-based Valor purchased the properties on behalf of its existing joint-venture with Vancouver-headquartered QuadReal, the companies announced in a news release. The acquisitions will accelerate London …
The Quebec and federal governments, along with the City of Montreal, have invested approximately $340 million in nine affordable and social housing projects. The projects are being co-ordinated by Montreal-based community real estate developer Bâtir son quartier and include 893 multi-residential units. Some developments are underway and others have already been built. The significant investment …
Walton Global has sold a 41-acre industrial lot in northeast Edmonton to an unidentified buyer. Known as Yellowhead Industrial, the property is situated just west of Anthony Henday Drive (Highway 216) and south of Yellowhead Trail (Highway 16), near key transportation routes. The land is within the Winterburn Industrial Area Structure Plan (ASP), which was …
Lower Mainland condominium-apartment sales declined significantly between January and August, according to Remax. Three Bank of Canada interest-rate cuts have had little effect on the Greater and the Fraser Valley condo sectors, said the company. Sales were well down from the same period a year earlier. (Most real estate company reports cover the two areas …
Hazelview is looking to undertake more multi-family infill development projects across Canada. The investment and development company is in the process of developing a new multi-family rental tower and revitalizing an old one on a site in Toronto’s Midtown area. Hazelview plans to do many similar projects across Canada, Colleen Krempulec, the firm’s head of …
Sienna Senior Living has entered into an agreement to acquire a portfolio of four relatively new seniors residences in Alberta. The portfolio comprises 540 units altogether and includes facilities in the Calgary-area town of Airdrie, Alta.; Edmonton and its neighbouring community of Fort Saskatchewan, Alta.; and Medicine Hat, one of the province’s largest cities. The …
Colliers’ project management arm will manage the construction of the new US$250-million new World Trade Center (WTC) in Armenia. The project is to be built in Yerevan, the country’s capital, and will serve as a landmark for the region, according to a news release issued by the Toronto-based company. Colliers Project Leaders’ Middle East branch …
Alimentation Couche-Tard intends to acquire all of 7-Eleven’s Japanese parent’s assets, the Canadian company’s founder and chairman told Bloomberg. Alain Bouchard’s comments came Thursday while he and other Couche-Tard were visiting Japan as part of the retailer’s effort to acquire Tokyo-based Seven & i Holdings. In addition to owning the 7-Eleven convenience-store chain, Seven & …
Crombie REIT completed its acquisition of Westbank’s stake in a mixed-use property in Vancouver’s West End for $133 million. New Glasgow-based Crombie purchased the remaining 50% of the residential component in the Zephyr complex at 1661 Davie Street from investment partner Westbank. The completion gives Crombie 100% ownership of the residential component in addition to …
JLL is calling for the City of Toronto to scrap its office replacement bylaw to allow for more multi-family housing in core areas and near transit stations elsewhere. According to a new JLL report, the nearly two-decades-old bylaw is hindering the construction of about 51,000 proposed residential units across 73 properties slated for redevelopment. The …
PC Urban has decided to develop rental apartments instead of condominiums at a property that it owns in Vancouver’s West End. The local developer is seeking to capitalize on new City of Vancouver view cone rules, introduced in July, that allow for taller buildings at given locations. View cones refer to building-height restrictions designed to …
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