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Fengate, Molinaro JV at Paradigm Grand condo development

1 week ago

Fengate, Molinaro JV at Paradigm Grand condo development

Investing in condo development today is daunting, but Fengate Asset Management and The Molinaro Group have partnered to complete a $240M, 18-storey tower in Burlington, Ont. Fengate is also getting purpose-built rental and seniors housing projects under way.

Parkit enters JV to develop 2-tower multifamily project

Parkit Enterprise (PKT-X) intends to begin construction on a multifamily project it has been planning for over three years, after taking on two partners for the twin-tower development at 568 Second St., in London, Ont., across from Fanshawe College.

Canada’s tallest skyscraper, Skytower, is now 100 storeys

Looking south from the 90th floor of the SkyTower, you can trace the perimeter of the Toronto Islands and Tommy Thompson Park to the east. At the 100th floor, you’re near eye level with the CN tower’s observation deck. 

Tech founder plans to build one million homes in 10 years

Inside the old Kraus flooring factory in Waterloo, Ont., a team led by ex-tech executives is developing a new factory model to help solve Canada’s housing crisis. The ultimate goal: to build one million homes in 10 years.

3 developers propose megaproject for the homeless

Groupe Mach, Cogir Immobilier and Groupe Devimco are proposing a $600-million development, to build 2,500 housing units for homeless people, built on land owned by the City of Montreal and financed by a loan from Desjardins.

Xquimalt designs around constraints of the missing middle

The design of missing middle housing plays a crucial role in the economic viability and local acceptance of such projects, according to a principal and a project manager from Victoria, B.C.-based Xquimalt Developments.

Saint John building comes together like Lego

For decades it was a popular department store, then it became a derelict building and later a giant hole in the ground. Now, a 13-storey apartment building with ground-floor commercial spaces is underway in King's Square using precast sections.

Toronto theatre will be reduced to just a facade for condos

Toronto is set to approve an application to demolish a heritage-protected theatre dating back to 1929, and tack its facade onto a new condominium development. Streetwise Capital Partners has proposed the 10-storey mixed-use condominium project.

Who is Amancio Ortega and why is he buying office towers?

The family office of Zara founder Amancio Ortega has reportedly scooped up its third high-profile Canadian office building. The Financial Post explains who Ortego is, how he made his money and other additions to his dizzying number of global investments. 

Life lease housing rules in the wings in Ontario

The Ontario government could be moving to regulate life lease housing via a private member’s bill from its own back benches. The newly tabled Bill 71 comes after a similar effort died when last winter’s election terminated the legislative session.

No Quebec municipalities used the vacant buildings tax

In 2024, no municipality in the province dared to implement the tax on vacant dwellings, La Presse has learned. The Legault government had presented this measure, authorized two years prior, as one of the solutions to address the housing crisis.

Investor demand keeps triple-net assets moving in the West

Triple-net assets with strong tenants continue to attract investors beyond Western Canada’s primary centres. Triple-net assets are appealing to investors because tenants are responsible for all operating costs, making them relatively carefree investments for the owners.

Trouble at The One shows pre-sale condo prices not locked in

The 85-storey project at Yonge and Bloor in Toronto, once known as The One, will probably be also famous for one of the longest construction runways to final completion, a time frame every condo buyer should worry about.

Brentwood Block to play sustainability role for Grosvenor

Projects such as Brentwood Block in Burnaby, B.C. are front and centre in Grosvenor Group’s efforts to reduce the carbon emissions from its North American real estate portfolio, as highlighted in its first sustainability report.

B.C. 'dashes' out digital tool to help build homes faster

British Columbia is launching a free, new digital tool aimed at helping developers and non-profit organizations design and build prefabricated homes and buildings of three to six storeys faster and more cost efficiently. 

New Pacific Park JV seeks to enlarge Brooklyn megaproject

The joint venture that recently took control of Pacific Park has an ambitious new vision for the long-stalled Brooklyn development, which covers several blocks of Atlantic and Flatbush avenues and includes air rights over subway rail yards.

Florida developers embrace 'carte blanche' in cities stripped of vetos

Hundreds of Fort Lauderdale residents tuned in to a town hall meeting, outraged about a planned development of nine 30-storey towers on the surface parking lots of the Galleria at Fort Lauderdale, an 800,000-sq.-ft. mall from the 1980s.

CRE prices rising at fastest pace in 3 years

Commercial property prices grew across asset classes in October, recording the largest annual gains since 2022 after a pair of interest rate cuts from the Federal Reserve. Prices rose by 4.2 per cent from October 2024 across all property types.

Prologis eyes 1.6M-sq.-ft. industrial park in San Francisco

Prologis has received unanimous approval from the San Francisco Board of Supervisors to develop a 1.6 million-square-foot, multi-storey industrial park. However, further permissions are required before construction can begin in earnest, the San Francisco Examiner reported.

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