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Development

Four Canadian companies make massive investments in US real estate

Posted in Development, Housing, Industry Trends, Newsworthy

Four Canadian companies make massive investments in US real estate

Story by: Monika Warzecha | BuzzBuzzHome  While snow birds may be a big part of the American real estate market, Canadian companies are also making headlines for writing big cheques for massive properties south of the border. Adventus Realty Services, a Vancouver-based company, recently picked up three office buildings near O’Hare airport in Chicago for the tune of $95 million. Chicago Business is reporting that once completed, the purchase of 617,616-square-feet of commercial space would be...

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Calgary closing in on Vancouver and Toronto for title of wealthiest city

Posted in CMHC, Development, Housing, Industry Trends

Calgary closing in on Vancouver and Toronto for title of wealthiest city

CALGARY – Vancouver, Toronto and Calgary remain the wealthiest cities in the country but the gap between them in average household net worth is narrowing, according to data released Monday by Environics Analytics, a marketing services and data analytics company. WealthScapes 2014, a database on the assets, liabilities and wealth of Canadians to December 2013, found that the average household net worth in Vancouver was $710,095 followed by Toronto at $693,652 and Calgary at $680,377. “But...

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GOVERNMENTS OF CANADA AND MANITOBA ANNOUNCE FUNDING FOR HOUSING

Posted in CMHC, Communications, Development, Finance, Housing, Media Releases

GOVERNMENTS OF CANADA AND MANITOBA ANNOUNCE FUNDING FOR HOUSING

The governments of Canada and Manitoba announced the joint investment of an additional $104 million over five years to help create more affordable housing for individuals and families across the province. The funding will be delivered through an extension to the Investment in Affordable Housing (IAH) agreement. “Our Government is proud to partner with the Province of Manitoba to ensure quality, affordable housing is available. This bilateral agreement provides flexibility for the...

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Micro living: See the smallest new condo suites on the market in Canada’s big cities

Posted in Development, Furnishings, Housing, Industry Trends

Micro living: See the smallest new condo suites on the market in Canada’s big cities

While miniature-sized living spaces may be more common in hyper-dense cities such as Tokyo, Hong Kong and New York, the trend of tiny, efficiently designed dwellings isn’t entirely foreign in Canada. While it’s unlikely that the Seattle-based, 182-square-foot “pico-dwelling” is about to kickstart a small home revolution in Canada, builders are slowly introducing micro units to big cities. Back in 2012, a developer in Surrey, British Columbia made plans for the smallest suite in the country...

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BROOKFIELD MULTIPLEX SELECTED TO BUILD LANDMARK HELIX TWIN TOWER APARTMENT PROJECT IN LONDON

Posted in Development, Housing

BROOKFIELD MULTIPLEX SELECTED TO BUILD LANDMARK HELIX TWIN TOWER APARTMENT PROJECT IN LONDON

Essential Living has selected global construction company Brookfield Multiplex to develop the iconic Helix twin tower residential complex on the edge of London’s Canary Wharf. Slated to cater to the city’s emerging private residential rental market, the project includes two elliptical high-rise structures offering a total of 395 apartments. The Eastern Tower, which will be 29 stories high, and the Western Tower, which will rise 35 stories in height, will be connected by spaghetti-like steel...

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RIOCAN TO SELL ‘AIR-RIGHTS’ TO EMBASSY BOSA FOR TWO RESIDENTIAL TOWERS PLANNED FOR CALGARY’S EAST VILLAGE

Posted in Development, Housing

RIOCAN TO SELL ‘AIR-RIGHTS’ TO EMBASSY BOSA FOR TWO RESIDENTIAL TOWERS PLANNED FOR CALGARY’S EAST VILLAGE

CALGARY – Two residential towers are now part of a much-anticipated retail development in Calgary’s East Village. In a news release this past week announcing its second quarter financial results RioCan Real Estate Investment Trust said it and its partner KingSett have entered into a conditional agreement with developer Embassy Bosa “to sell up to $30 million in air rights (representing 600,000 square feet) above the CPA development site, along with approximately $40 million in cost...

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GOVERNMENTS OF CANADA AND MANITOBA ANNOUNCE FUNDING FOR HOUSING

Posted in CMHC, Communications, Development, Finance, Housing

GOVERNMENTS OF CANADA AND MANITOBA ANNOUNCE   FUNDING FOR HOUSING

The governments of Canada and Manitoba announced the joint investment of an additional $104 million over five years to help create more affordable housing for individuals and families across the province. The funding will be delivered through an extension to the Investment in Affordable Housing (IAH) agreement. “Our Government is proud to partner with the Province of Manitoba to ensure quality, affordable housing is available. This bilateral agreement provides flexibility for the...

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Vancouver landlords paying record prices

Posted in Broker Sales, CMHC, Development, Finance, Housing, Industry Trends, Newsworthy, Student Housing

Vancouver landlords paying record prices

Landlords are paying record prices in a “relentless pursuit” of cash-flowing apartment buildings across Metro Vancouver, according to multi-family specialist Dave Goodman of HQ Commercial. Total sales of rental apartment buildings surged 36% in the first six months of this year, compared with the same period in 2013, with suburban markets seeing a 212% increase in total apartment unit sales. In Vancouver, where the average price of an apartment rental suite increased 13% to a record $302,179,...

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Ontario Rental Housing Stock Lags as Rules & Economics favour Condos

Posted in CMHC, Condo Conversions, Development, Finance, Housing, Industry Trends, Newsworthy, Rent Control

Ontario Rental Housing Stock Lags as Rules & Economics favour Condos

An interesting confluence of trends is affecting an almost-forgotten segment of the Toronto real estate market. For the longest time, Toronto enjoyed a vibrant and robust pure rental market of apartment buildings purposely built to lease for residential uses. Most of these apartment buildings date back to the 1960s and ‘70s and most still stand today. While quite a number of pure rental apartment buildings remain in the city, there are very few of them under construction today. Morguard Corp....

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Canada’s top 10 residential construction markets for Q2 2014

Posted in Development, Housing, Industry Trends

Canada’s top 10 residential construction markets for Q2 2014

At the end of Q2-2014, there were 213,683 homes being built across Canada’s 10 busiest new residential construction markets. Naturally, the activity was centred in a few major urban areas, with Toronto standing out as the most active market by far. There is nearly the same number of homes currently under construction in the Toronto metropolitan area as the metro areas of Vancouver, Montreal and Calgary combined. With 81,061 total homes under construction in the metro area — 47,750 of those...

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