Industry News

Molson

Condos, rentals coming to Montreal’s Molson site

A Quebec consortium has finalized the purchase of Montreal's Molson brewery site, clearing the way for a redevelopment that will introduce “diverse housing alternatives that meet the needs of the neighborhood and future residents.”
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Avison Young scoops Edmonton-based multifamily veterans

Avison Young has announced the strategic hiring of industry veterans Amit Grover and Jandip Deol to head up their new Edmonton multifamily office.
Best Renovation

CRRA awards Boardwalk “Best Renovation” of 2019

Calgary's Residential Rental Association (CRRA) has recognized Boardwalk for the second year in a row for "Best Renovation" of a rental property.
rent increase guideline

Ontario 2020 rent increase guideline set at 2.2%

The Ontario government released its rent increase guideline for 2020, setting it at 2.2 per cent – the highest it’s been since 2013.
expanded Ontario cabinet

Ministers shift around expanded Ontario cabinet

The 28-member reconfigured roster brings some fresh faces to portfolios of key interest to the commercial real estate industry, but also leaves one of the most prominent players in place.
Toronto

Average monthly rent in Canada up 4% in May

Following two months of decline, the average monthly rental rate in Canada increased four per cent in May, according to the June national rent report produced by Rentals.ca and Bullpen Research & Consulting.
calgary_skyline_winter

Calgary adopts new land sale policy

Calgary City Council announced it has adopted a new land sale policy in an effort to promote the development of more affordable housing.
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QPAREB appoints president and CEO

Julie Saucier began her new position on June 3, 2019.
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RioCan to acquire KingSett’s stake in Yonge Sheppard Centre

The transaction is expected to close by the end of August 2019.
investment in Vancouver

CRE investment in Vancouver lagging: Report

Commercial real estate investment in Vancouver has declined across all sectors except for office, according to a new report from Altus Group.
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Q Management LP acquires 911-suite property in Oshawa

Q Management LP announced it has acquired Rossland Park Residential Community in Oshawa, Ontario, from H. Kassinger Construction Limited for $220 million.
New York skyline One World Trade Center

U.S. multifamily investment surges in Q1 2019

Building on a record-breaking 2018, U.S. multifamily investment is experiencing its most active start to a year, with $38.3 billion in transactions recorded for Q1.
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Ottawa emerges as luxury real estate hot spot: report

The report provides an outlook for major Canadian luxury markets such as Toronto, Montreal, Vancouver, Victoria, Ottawa, and Muskoka & Collingwood.
retail plaza

Canada invests in deep energy retrofits at Edmonton residence

The Government of Canada announced it is investing $2.5 million towards clean energy upgrades at 59 Sundance Housing Co-operative in Edmonton.
apartment lending

Investor interest in rental properties remains high

Altus Group released its latest Housing Report, indicating investor interest in rental remained high in 2018. Almost 1,100 rental properties comprised of over 40,000 suites were sold in the markets tracked.
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Invesque to acquire Commonwealth Senior Living

The transaction, which is subject to customary closing conditions, is expected to close in the third quarter of 2019.
evicting tenants

Manitoba launches new eviction fact sheet for landlords

The Manitoba government announced plans to launch an eviction fact sheet for landlords to clarify the process for evicting tenants who are breaking the law, Justice Minister Cliff Cullen announced.