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GTHA’s condo sales slump expected to continue

9 hours ago

GTHA’s condo sales slump expected to continue

Thousands of newly completed and forthcoming condominium suites — including small, investor-driven units not designed for long-term end-users — are entering a generationally weak Greater Toronto and Hamilton (GTHA) market shaped by higher interest rates, constrained financing and cautious buyers.

Fitzrovia's new PBR Marlow kicks off leasing in Toronto

Leasing has kicked off at one of Toronto's newest communities, Marlow at 980 Dufferin St. from developer Fitzrovia. The purpose-built rental apartment will offer over 898 residential units across three towers.

Insolvency: Mass sale of all Finstar Group assets

The entire portfolio of the Finstar Group, which is currently in serious financial difficulty, will be sold to the highest bidder. The company is involved in the development of approximately 40 real estate projects in Quebec, primarily multifamily. 

Pension funds in talks on airport deals, Caisse CEO says

The head of La Caisse says pension funds are having active talks with the government about investing in the country’s airports. Canada’s public pension funds, which collectively manage trillions of dollars, have experience as investors in airports, especially in Europe.

Affordable rentals luring would-be buyers

Eroding prices are enticing many aspiring buyers back into the Toronto-area real estate market, but the recovery has been tempered by the folks heading the other way, as rental prices are also softening.

Quebec’s rental housing model faces growing risks

Historically based on an army of small landlords, the Quebec rental housing model is faltering. Suffocated by soaring construction costs at a time when renovations have never been more urgent, they threaten to give way to large investment firms.

Calgary trying to tempt hotels to fill old office buildings

VIDEO: The City of Calgary is relaunching its Downtown Office Conversion Program with higher incentives for hotel developments. As CBC's Jo Horwood reports, the program is boasting a $14-million boost to tax revenue.

Large mixed-use community planned for Winnipeg

The project, dubbed the Waters Urban Village, would transform 4.5 hectares of largely vacant land into a mixed-use neighbourhood. Plans by developers Terracon and Landmark Planning & Design call for about 2,946 housing units, a commercial town centre, parks and businesses.

Toromont's 17-tower mega-development approved

Vaughan recently approved a transformative plan to bring a whopping 17 towers to the Vaughan Metropolitan Centre area, proposed by developer Toromont and designers WZMH Architects. The plan includes 9,950 residential units, joined by office, hotel, retail and community spaces.

LFL to take full ownership of distribution centre for $45.75M

Leon's Furniture Limited (LFL) announced that it has entered into an agreement to acquire the remaining 50 per cent interest in its Edmonton distribution centre, which also serves as The Brick's corporate headquarters. 

Luxury real estate bouncing back, just not where you think

Toronto and Vancouver have been typically Canada’s hot beds for luxury real estate, but other markets are now feeling the heat, as sales in the luxury markets in Calgary, Edmonton, Saskatoon and Ottawa are increasing.

Trend alert: Maximizing wellness from home

A growing number of Canadians are paying close attention to their health and quality of living. That trend is extending into housing as more buyers seek wellness-enhancing features within the comfort of their own homes, executives from Engel & Völkers say.

Hamilton advances proposed data centre moratorium

A proposed pause on new power-hungry data centres in Hamilton cleared a hurdle on Tuesday, the latest step in a growing pushback to Canada’s buildout of artificial intelligence infrastructure. Dozens of residents spoke favourably of a moratorium. 

CPP Investments commits $1B to data centre in India

CPP Investments says it’s committing up to $1 billion in a strategic partnership with CtrlS Datacenters Ltd., a data centre operator in India. Under the partnership, CPP Investments will acquire an 8.2 per cent stake in CtrlS.

Brookfield-backed data centre firm files for U.S. IPO

Csquare Inc., a data centre company backed by Brookfield Corp., filed publicly for a US initial public offering, joining a rush of debuts linked to artificial intelligence infrastructure. Brookfield is expected to maintain voting control over Csquared after the offering.

Apollo to shutter mortgage REIT following $9B loan sale

Apollo Global Management is liquidating its publicly traded REIT focused solely on commercial real estate debt after selling its US$9B in assets to another subsidiary, it announced Monday.

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