Retail

wellness ready

REMI Network

Quadrangle and Human Space launch Wellness Ready

Quadrangle and Human Space have launched Wellness Ready, a program to support businesses as they create healthy environments for returning occupants and customers.
Retail landlords respond to COVID-19-related issues

Canadian Property Management

Retail landlords absorb and counter economic hit

Results of a wide-ranging survey show many major Canadian commercial real estate players braced for the erosion of consumer confidence, tenant solvency and their own investment returns.
Public transit wariness

Canadian Facility Management & Design

Public transit wariness makes the core edgy

Commuters’ willingness to jump on the bus, light-rail car or subway is expected to be a driving factor in repopulating office space in some major North American markets, including Toronto, Montreal and Vancouver.
Ontario to amend Commercial Tenancies Act to temporarily halt evictions of tenants qualifying for CECRA

Canadian Property Management

Ontario to amend Commercial Tenancies Act

Following similar actions in B.C. and Alberta, the Ontario government will temporarily halt evictions of tenants eligible for Canada Emergency Commercial Rent Assistance (CECRA).
Alberta pledges to halt commercial evictions while tenants recover from losses COVID-19 has inflicted

Canadian Property Management

Alberta pledges to halt commercial evictions

The announcement accompanies a promise to disperse grants of up to $5,000 to help businesses and non-profit organizations with the costs of relaunching after COVID-19-triggered shutdowns, but few details are yet available.
Commercial landlords decry the blame shifting of eviction prohibitions

Canadian Property Management

Commercial landlords decry blame shifting

REALPAC characterizes the landlord-tenant dynamic as a chain of economic stress, with many commercial landlords likewise suffering a drop in revenue and financially beholden to their lenders.
B.C. prohibits CECRA-eligible landlords from evicting tenants

REMI Network

B.C. invokes terms for CECRA-eligible landlords

The move is in step with one of three recommendations the Canadian Federation of Independent Business is promoting to support businesses dealing with COVID-19-triggered financial stress.
Mississauga Gateway Centre

REMI Network

Mississauga Gateway Centre welcomes two new buildings

Construction is complete on two new buildings at Mississauga Gateway Centre, a class-A office and retail complex.
Alberta commercial landlords and tenants invited to respond to survey on COVID-19 related financial stresses

Canadian Property Management

Alberta polls commercial landlords and tenants

The Alberta government is surveying commercial landlords and business tenants about their COVID-19-related financial stresses.
CECRA applicants can follow CMHC instructions to prepare documentation ahead of registration

Canadian Property Management

CECRA applicants urged to prepare documentation

Potential participants can begin to prepare ahead of registration opening next week, following instructions that have been posted on Canada Mortgage and Housing Corporation’s website.
Solid pre-pandemic fundamentals underpin Canadian real estate market

Canadian Property Management

Solid pre-pandemic fundamentals buttress market

Thus far, in most markets, there’s been no spurt of office sublets or rent discounts that conventionally signify an economic downturn, but there has been a flurry of conjecture about the forces COVID-19 may have unleashed.
Canadians now fill half of BOMA International executive officer positions

Canadian Property Management

Details of CECRA program rollout still emerging

The CECRA program is voluntary. Not all eligible landlords will necessarily take advantage of this program for various reasons.
Bring Back Main Street

REMI Network

CUI starts “Bring Back Main Street” campaign to help businesses

The Canadian Urban Institute, along with a growing coalition of partners, has launched the Bring Back Main Street campaign to help small businesses.
Commercial leasing specialists flag some potentially cumbersome details in commercial rent relief program

Canadian Property Management

Vague or cumbersome details flagged in OCECRA

Commercial leasing specialists suggest landlords may prefer to stick with rent deferral agreements they have already negotiated.
Rent relief program targeted to mortgage commercial properties

Canadian Property Management

CECRA tied to mortgaged commercial properties

Commercial landlords must agree to reduce rents by 75 per cent and halt evictions for April, May and June. In turn, CMHC will channel the forgivable joint federal-provincial loan directly to their lenders.
Prime Minister Trudeau pledges commercial rent assistance

Canadian Property Management

Commercial rent assistance pledged

The envisioned loan program for commercial property owners would enable them to provide small business tenants with rent discounts or forgiveness for the months of April, May and June.
rent deferrals could transfer burden for GST/HST remittances to landlords

Canadian Property Management

Deferrals should address GST/HST remittances

Tax specialists are reminding commercial landlords that rent deferrals could have flow-through implications for required GST/HST remittances to the Canada Revenue Agency.