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Development

Robert Campeau, Who Built And Lost A Real Estate Empire, Dead At 93

Posted in Communications, Development, Finance, Housing, Newsworthy

Robert Campeau, Who Built And Lost A Real Estate Empire, Dead At 93

Robert Campeau, the former real estate mogul who once controlled the Bloomingdale’s and Macy’s department store chains in the United States, has died at 93. An online obituary says he died in Ottawa on Monday. It did not specify a cause of death. Born near Sudbury, Ont., he started a construction company in 1953 and went on to amass a fortune in the real estate development business, with holdings in Ottawa, Toronto, California, Texas and Florida. According to the obituary,...

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Non-profit collab inaugurates new seniors’ residence complex

Posted in Communications, Development, Housing, Industry Trends, Newsworthy, Senior Housing

Non-profit collab inaugurates new seniors’ residence complex

Two non-profit entities have entered into a partnership and launched a new purpose-built community in downtown Toronto, in a bid to improve the supply of residential units catering to the needs of Canada’s elderly. Charity corporation The Reikai Centres and non-profit developer Options for Homes have announced their collaboration aimed at providing more long-term care space for Canadian seniors. The newest Community Hub on the north-west corner of Front and Cherry Street marked the first in...

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‘Horrible feeling’: Economist warns more housing measures would be disastrous

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Legislation, Newsworthy

‘Horrible feeling’: Economist warns more housing measures would be disastrous

After several big policy moves aimed at cooling Canadian real estate, a prominent housing bear says he can’t shake the “horrible feeling” that any further steps will lead to disaster. In the almost 12 months since Finance Minister Bill Morneau announced his working group on housing, Ottawa has made it harder for Canadians to get an insured mortgage through more stringent stress tests. In the meantime, B.C. and Ontario have pulled policy levers – most notably taking aim at foreign investors...

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Starlight Investments to infuse new supply into Ontario apartment market

Posted in Appraisal, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

Starlight Investments to infuse new supply into Ontario apartment market

A Toronto-based real estate investment and asset management company has announced the closure of a forward purchase of 283 apartment units in two newly constructed residential buildings in Ontario. Starlight Investments, which currently manages $7 billion of multi-residential and commercial properties across Canada and the United States, stated that it has acquired the units situated at Sally Creek in 325 Lakeview Drive, Woodstock, Ontario and at Paisley Square in 1042 Paisley Road, Guelph,...

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GMBREB: Montreal residential property market boosted by condo activity

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

GMBREB: Montreal residential property market boosted by condo activity

The outsized performance of Montreal’s condo market has led to a record number of homes being sold in the area last month, according to the Greater Montreal Real Estate Board. 5,057 residential properties were sold in May, a new high for that month and up 15 per cent year-over-year. The surge came amid concerns that a foreign buyers’ tax in Toronto could be having a spillover effect on Canada’s second-largest city, The Canadian Press reported. Real estate market observers have offered...

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World’s tallest mostly wood building poised to be built in downtown Vancouver alongside Erickson classic

Posted in Bylaws / Regulations, Communications, Development, Exterior Building, Housing, Industry Trends

World’s tallest mostly wood building poised to be built in downtown Vancouver alongside Erickson classic

A design by award-winning Japanese architect Shigeru Ban for the world’s tallest hybrid timber structure is poised to be built in downtown Vancouver. When complete, the wood, glass and concrete building will stand 19 storeys and 71 metres tall — one storey higher than the wood-hybrid Brock Commons at the University of B.C. — said Tobi Reyes, the CEO of PortLiving, the Vancouver-based developer behind the project. Ban designed the residential tower, Terrace House, as a tribute to late architect...

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Improved prospects for Alberta and Saskatchewan markets this year

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Employment, Finance, Housing, Industry Trends, Newsworthy

Improved prospects for Alberta and Saskatchewan markets this year

Alberta and Saskatchewan are poised to lead the rest of the country in terms of provincial economic growth this year, according to The Conference Board of Canada. In its latest report “Provincial Outlook: Spring 2017”, the Board outlined what it saw as a promising trend for the two provinces, whose housing markets have experienced relatively sedate housing growth and activity over the past few quarters. “The difficulties in the resources sector are slowly dissipating and helping Alberta and...

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Toronto home sales plunge 20.3% in wake of Wynne government intervention

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Legislation, Newsworthy, Tax Law

Toronto home sales plunge 20.3% in wake of Wynne government intervention

Home sales across the Greater Toronto Area plummeted in May, the first full month of activity since Kathleen Wynne’s Liberal government took aim at the red-hot real estate market. The Toronto Real Estate Board said on Monday 10,196 properties changed hands in May, marking a 20.3 per cent plunge from the same month a year earlier. Facing uncertainty about the long-term impact of the government’s intervention, homeowners heaped new inventory on the market. New listings surged 48.9...

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Victoria’s downtown revival turns into full-fledged boom

Posted in Appraisal, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

Victoria’s downtown revival turns into full-fledged boom

Mike and Kara Tkachuk, owners of Valhalla Pure, relocated the outdoor gear retailer from Langford to downtown Victoria. They say a revitalized core with thousands of new residents was behind their decision.   When Mike Tkachuk purchased the region’s Valhalla Pure Outfitter outdoor gear store this spring, one of the first things he did was prepare to move it back to downtown Victoria from its suburban Langford location. “I definitely think it’s the place to be,” said Tkachuk, who opened this...

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Dream of that single-family home in the suburbs fading fast as highrises move in

Posted in Appraisal, CMHC, Communications, Development, Finance, Housing, Industry Trends, Legal, Legislation, Payments Processing

Dream of that single-family home in the suburbs fading fast as highrises move in

Story by: Garry Marr | Financial Post Hamilton builder Jeff Paikin has been in the real estate industry for almost three decades, but his days of building single-family homes may be over. He’s all but given up on detached homes and now focuses on more budget-sensitive condominiums and townhomes in what are ostensibly the suburbs of Hamilton. His latest project in Stoney Creek is the largest single-phase condominium in that city’s history at 470 units. “Hamilton didn’t even have a condo market...

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