Industry News

EllisDon

Slow approval processes continue to hamper new development

Current approval processes are hampering the development of safe and affordable housing in Ontario, according to a new research paper published by the OBOA.
vacancy rates

Average rents decline slightly in March

Overall, average rents in Canada declined slightly in March after three straight months of increasing rental rates, according to the April national rent report produced by Rentals.ca and Bullpen Research & Consulting.
Ottawa-Gatineau

Ottawa-Gatineau tapped for value-add potential

The partners will invest in in-suite and common area upgrades with the aim of generating more revenue from the units, which are located in the downtown cores on both sides of the Ottawa River.
MPAC board

Municipalities could lose clout on MPAC board

A new government means a new round of scrutiny for Ontario's property assessment agency.
CondoRBC

Report: Condos a harder sell for Canadian renters

It's becoming harder for renting Canadians to make a move to condos. This is according to an RBC housing report that indicates the high price of single-family housing is driving demand for condos and creating intense affordability pressures.
calgary_skyline_winter

Calgary condo market sees modest uptick as more renters look to buy

According to the latest Royal LePage House Price Survey, low rental vacancy rates and rising rental costs in Calgary are contributing to a modest increase in condominium ownership.
student housing

ASH REIT expands Ontario student housing portfolio

ASH REIT announced it has purchased a portfolio of four high-quality purpose-built student accommodation ("PBSA") properties located in Waterloo, Hamilton and Oshawa.
rent supplements

Quebec, Nova Scotia add more rent supplements

Quebec promises to catch up on the delivery of previously announced affordable housing units, while Nova Scotia invests in major repairs in existing social housing buildings.
Mark Kenney

Mark Kenney appointed CAPREIT CEO

CAPREIT has announced that Mark Kenney, former COO, has been appointed Chief Executive Officer and a member of its board of trustees, effective March 27, 2019.
new rental supply

Feds promise more funds for new rental supply

The 2019 budget promises the second top-up in as many years to the low-cost loan fund supporting construction of rental housing.
energy efficiency spending

Jobs foreseen from energy efficiency spending

The 2019 federal budget allocates $950 million to underwrite retrofits and energy-efficient new development in the municipal, not-for-profit, private homeownership and affordable housing sectors.
Langley mass timber Legacy

Langley’s first mass timber development set to rise

Langley, British Columbia is set to become the home of the Fraser Valley’s first ever residential mass timber development - Legacy on Park Avenue.
multi-unit

Rental rates rise in Canada for third straight month

Average rents for all property types in Canada have risen for third consecutive month as rental demand increases with the arrival of the prime spring leasing season.
apartment transaction

Starlight, Blackstone acquire eight Toronto rental properties

Starlight Investments, an affiliate of Blackstone Property Partners, announced they have jointly purchased eight Toronto-area apartment buildings containing 1,067 units.
new development

Zahlco announces plans for new Brantford rental development

Zahlco Developments announced it has purchased two Brantford properties for the development of a nine-storey, 205-unit rental apartment with retail and adjacent townhomes.
multifamily deals Greybrook

US multifamily deals top office again in 2018

Canadian investors acquired USD $9.8 billion worth of multifamily properties in the United States last year, but that's a fairly small portion of the sector's USD $167.5 billion transaction volume.
GWL new rental

New rental tower breaks ground in Vancouver’s West End

GWL Realty Advisors formally broke ground on a 21-storey market rental tower at 1500 Robson Street in Vancouver's West End. When complete, the tower will add 128 purpose-built rental units to the neighbourhood lacking in vacant apartments.