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Canadian Apartment Magazine

Publisher’s CEO of the Year: Greg Romundt

Centurion’s Greg Romundt knows a thing or two about running a successful business operation. With a background in investment banking and a true passion for

Canadian Apartment Magazine

Broad Street Development acquires NYC portfolio

Broad Street Development (BSD), a multi-faceted investor and developer, has acquired 298 Mulberry Street and 304 Mulberry Street, two multifamily buildings with 182 apartments, with
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Canadian Apartment Magazine

Purpose-built rental vacancies up in 2014: CMHC

According to the Canada Mortgage and Housing Corporation (CMHC), Canada’s purpose-built rental apartment vacancy rate increased, year-over-year, in October 2014. The CMHC’s Rental Market Survey, released Dec. 16, indicated that the average Canadian rental vacancy rate rose to 2.8 per cent. Inventories and average rents also rose over the course of the year.

Canadian Apartment Magazine

Purpose-built rental gains economic viability

A developer’s instincts for untapped demand underpin plans for new purpose-built rental housing in midtown Toronto. The proposed luxury building near the intersection of Yonge

Canadian Apartment Magazine

Morgan Properties acquires Maryland apartment

The Preserve, a 791-unit garden-style apartment in Reisterstown, Md., has been acquired by Morgan Properties and The Olayan Group, its joint venture partner. This purchase marks the second acquisition made by the partners this year, representing a total investment of nearly $400-million.

Canadian Apartment Magazine

2014 FRPO MAC Award Winners

Ontario's top landlords and property managers were once again recognized for achievement at this year's FRPO MAC Awards Gala.

Canadian Apartment Magazine

New York multifamily development announced

In partnership with the USAA Real Estate Company, Madison Realty Capital (MRC) has announced plans for a $88.5-million multifamily development in Brooklyn, N.Y. The project will include an eight-storey, 191-unit apartment building with studio, one- and two-bedroom residences and ground floor retail space.

Canadian Apartment Magazine

Real estate fund forms affordable housing trust

The Fonds immobilier de solidarité FTQ and the the Association des groupes de ressources techniques du Québec (AGRTQ) have established a new $15-million community housing fund, known as the Fonds d'acquisition Québécois. The fund will ensure safe and affordable housing for low and modest-income Quebec families, marginalized individuals, troubled youths, seniors and persons with disabilities.

Canadian Apartment Magazine

Conversions fuel multifamily trend

Station on Whyte, a residential complex in Edmonton, is an example of an emerging trend in real estate that sees full condo-to-apartment building conversions on the rise in 2014.

Canadian Apartment Magazine

Building a solid brand

Branding starts with one main tenet: people must be able to quickly and easily identify a company by how it presents itself to the world.

Canadian Apartment Magazine

Newfoundland invests in affordable housing

A $68-million Investment in Affordable Housing (IAH) agreement has been reached with the federal government and the Government of Newfoundland and Labrador. The funding, delivered through an extension to the existing IAH agreement, will be distributed through the Newfoundland and Labrador Housing Corporation (NLHC) over the course of five years.

Canadian Apartment Magazine

Equity Management wins several PACE awards

The 2014 Property Management Association's Apartment Community Excellence (PACE) Awards, recognizing excellence in multi-family residential management, saw Equity Management communities win several honours, including Best Affordable Community and Best Affordable Senior Community. The property management firm, which specializes in affordable housing, won awards for five rental communities in Washington, Maryland and Virginia.

Canadian Apartment Magazine

Apartment demand on the rise in Waterloo

According to the Canada Mortgage and Housing Corporation (CMHC), Waterloo’s new home construction market is shifting from single-detached homes to apartments. Moving forward, the CMHC says demographic changes will support this trend. The CMHC presented data to support this forecast at the annual CMHC Housing Outlook Seminar on November 25.

Canadian Apartment Magazine

GTA apartment market upbeat in first half

Marcus & Millichap released its bi-annual Apartment Market Report in mid-November, highlighting steady job growth and strong apartment demand in the Greater Toronto Area.

Canadian Apartment Magazine

Pure Multi sells Texas property for $10.5 million

Pure Multi-Family REIT announced that it has entered into an agreement to sell Windscape Apartment Homes, located in Grand Prairie, Texas—a submarket of Dallas-Fort Worth,
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Canadian Apartment Magazine

Growing demand for family-friendly apartments

According to statistics from Canada Mortgage and Housing Corporation, fewer than 30 per cent of all rental apartment units in downtown Toronto offer family-friendly apartments. By contrast, in neighbouring Mississauga more than 60 per cent of rental units provide two or more bedrooms.

Canadian Apartment Magazine

New housing development coming to Val-d’Or

DEVCORE Group and the Fonds immobilier de solidarité FTQ kicked off Phase 2 of the Plateau Sabourin housing development in Val-d'Or, Quebec