The Government of Alberta is moving ahead with plans to modernize condominium legislation throughout the province, a change the Canadian Home Builders’ Association – Alberta (CHBA – Alberta) welcomes with enthusiasm. The new legislation, known as Bill 9, coincides with the New Home Buyer Protection Act, introduced earlier this year, to provide 10-year warranty protection to single or multifamily home buyers.

Canadian residential landlord Killam Properties Inc. (Killam) has fully acquired or acquired interest in three multifamily rental properties in Ontario and one in Alberta. The $97.1-million in acquisitions, which were originally announced on Nov. 10, include apartment communities in London, Ottawa, Mississauga and Calgary.

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.

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.