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OpenForm, EDC scale-up Vancouver rental project to 31 storeys

4 days ago

OpenForm, EDC scale-up Vancouver TOC rental project

OpenForm Properties and Epta Development Corporation (EDC) have broken ground on the 339-unit Easthill rental residential community at the northeast corner of Renfrew Street and East Broadway in Vancouver.

Seven towers proposed for Victoria Square Shopping Plaza

A major redevelopment has been proposed for North York's Pleasant View neighbourhood replacing the Victoria Square Shopping Plaza with seven towers, 25 to 49 storeys tall. The single-storey plaza occupies a generally flat 7.9-acre site.

Vancouver kills Villages Plan after fierce public backlash

Vancouver City Council has rejected the highly controversial Villages Plan. It introduced new multifamily residential density and a combined total of about one million square feet to commercial core areas across all of the 17 proposed villages.

Boardwalk, DGAM fund form $292M multifamily partnership

Boardwalk REIT (BEI-UN-T) and DGAM Canadian Private Real Estate Fund have entered into a 50-50 co-ownership venture focused on multifamily communities in Western Canada. The partnership will launch with an initial portfolio valued at roughly $292 million.

Province backs $1.2B Saskatoon arena district development

Saskatoon Mayor Cynthia Block says it's time to start dreaming about the downtown arena district — but only if the federal government helps pay for it. Monday, the provincial government pledged to match any federal funding to the $1.2B project.

PEI's Mill River Resort owner proposes new golf course

P.E.I. businessman Don McDougall wants to build a new links-style golf course at Summerside’s northern shore, along Malpeque Bay. McDougall and his staff outlined their vision for what would be the company’s third golf course to city council last week.

Peakhill closes $350M credit facility for multifamily lending

Peakhill Capital Inc. has announced the closing of a new $350 million credit facility for its flagship investment product, the Peakhill Income Opportunity LP.

Forcing landlords to pay for AC could backfire

A potential bylaw, which would set an upper temperature limit of 26C within apartment buildings, came as Toronto temperatures soared above 37C. An HVAC executive estimated the cost of adding AC could be $8,000 to $13,000 per unit.

Skyscraper proposed on site of former Peel Pub in Montreal

Montreal is currently considering a developer's application to erect a 33-storey tower on Peel Terrace. The developer, MC Finances group, says a zoning exemption for the plan would address concerns about access to sunlight in the nearby public square.

Surrey council OKs 2 towers, 31 storeys and 25 storeys

Surrey council has approved a 31-storey mixed-use tower with 358 residential units and 438 square metres of commercial space as well as a 25-storey mixed-use tower with a four-storey podium and 226 dwellings.

Unsold condos weigh on Vancouver housing starts

A large inventory of unsold condos in Vancouver is creating a difficult environment for new construction and causing housing starts to plunge, says a Canadian think tank. There were 2,008 housing starts in Vancouver in June, a 34.8-per-cent drop year-over-year.

Toronto summit draws leaders from Blackstone, BlackRock

The investment firms attending will represent the largest collection of assets under management ever assembled in one place in Canada, according to one official, speaking on condition they not be named because the list and the agenda are still private.

Alberta is all in on AI data centres but the public may not be

Albertans don’t appear to be sold on data centres, and they aren’t overwhelmingly skeptical either, a new Leger survey suggests. Forty-two per cent of those polled said they want a temporary pause on new approvals for large AI data centres.

Jet.AI invests in 200MW+ StratGrid data centre in Alberta

Jet.AI Inc., an emerging provider of high-performance GPU infrastructure and AI cloud services, announced a strategic equity investment in StratGrid Inc., a Calgary, Alberta-based developer of behind-the-meter, natural gas-powered data centre infrastructure.

NextEra, Brookfield to build $100B data center campus

NextEra Energy, the largest U.S. power utility, is teaming up with Brookfield Corp. on a more than US$100 billion transformation of a shuttered Cold War uranium-enrichment facility in Kentucky into a data centre campus with a generating plant.

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