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Latest Alberta & Prairies Office Stories
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 …
Calgary’s proposed Green Line light rapid-transit project is back on track, for the most part. The city and province announced that they have agreed to allow construction to resume on the portion that extends from 4th Street S.E. near downtown to Shepard in southeast Calgary. In the meantime, engineering firm AECOM will devise a new …
Latest National Office Stories
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 …
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. …
Latest Cross Border News Office Stories
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. …
Latest Maritimes Office Stories
Slate Asset Management has announced plans to accelerate its focus on so-called essential real estate and shift away from office assets. Essential real estate refers to properties that meet non-discretionary needs of day-to-day life, including grocery, residential, industrial and logistics, and healthcare. As part of the effort, SAM has accepted an officer to sell a …
The Moncton, N.B., city council has approved a two-tower riverfront multi-family rental real estate development project, CBC reported. Both towers will stand 17 storeys on land south of Assomption Boulevard along Riverfront Park in Moncton. Council voted 7-3 in favour of the project, according to CBC. Known as Gateway Towers, the $90-million development is slated …
Latest Ontario Office Stories
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. …
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 …
Latest Pacific Canada Office Stories
Westbank has sold an office building in Vancouver’s Mount Pleasant area to Spear Street Capital for $115 million, according to a published report. Located at 114 Main Street, the building stands eight storeys and comprises 160,000 square feet of office and light-industrial space. Known as M2, the structure is part of Westbank’s ongoing Main Alley …
Telsec Property Corporation has joined Firm Capital in opposing a proposal to take Melcor REIT private. Calgary-based Telsec is urging fellow minority unitholders to support Firm’s position and reject the proposal launched by the REIT’s parent and majority owner, Melcor Developments. Telsec and Toronto-based Firm contend that the offer is too low and only benefits …
Latest Quebec Office Stories
The City of Montreal will cap property tax increases at 1.8% in 2025. The limit will apply to homeowners and businesses, city officials announced recently. “We want to assure the population because people are stressed,” the head of the city’s executive committee, Luc Rabouin, told reporters during a news conference. “There’s been an increase in the cost of …
National Bank’s proposed $5-billion acquisition of Canadian Western Bank has cleared a major hurdle. The Competition Bureau has approved the planned all-stock transaction, the banks announced Thursday. “We are pleased that the Competition Bureau has concluded its review of this transaction, and to have its approval to bring together these two great banks which have …