Canada’s one stop platform and the #1 National voice to the rental housing industry

Finance

Even more new condo projects are stalling all over the Vancouver area

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

Even more new condo projects are stalling all over the Vancouver area

Lower Mainland condos are stuck in neutral. Earlier this year, researchers at MLA Advisory predicted BC developers would hold off on launching some Metro Vancouver and Fraser Valley condo projects until the market recovers. In the first quarter, developers brought 2,950 new units to market, down 40 percent from the 4,825 condos launched same time last year, according to MLA Advisory, the research branch of condo-marketing firm MLA. “The first quarter of 2019 saw a number of project delays as...

read more

Canadian Electricity Providers Say At Least 20,000 New Workers Needed By 2022 To Keep Country’s Power On

Posted in Communications, Employment, Finance, Industry Trends, Utility Management

Canadian Electricity Providers Say At Least 20,000 New Workers Needed By 2022 To Keep Country’s Power On

Workers under 25 account for fewer than one in 20 employees in the sector. Canada’s electricity providers say they need to appeal to a younger and more diverse workforce if they’re going to keep the country’s lights on. A new report on the industry’s labour needs from Electricity Human Resources Canada suggests at least 20,500 new workers will be needed in power plants and transmission systems before 2022. “It’s extremely critical,” said Michelle...

read more

Novelty units reap premium rents

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

Novelty units reap premium rents

Toronto, with its myriad condominiums, is short on a very particular kind of layout that could yield incredible returns for investors—that is, if they’re lucky enough to find one of these units. Units with two master bedrooms could reap premium rents for investors because no longer will the tenant with the larger bedroom carry the larger share of the monthly rent. “These units have tremendous potential because, very often, if you’re an investor and your unit has a typical layout, one of the...

read more

Toronto Skyline Evolution: Video Shows How City Is Transforming Amid Skyscraper Boom

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

Toronto Skyline Evolution: Video Shows How City Is Transforming Amid Skyscraper Boom

Torontonians probably don’t need another ego boost, but here’s one anyway: The high-rise construction boom in Canada’s largest city is set to continue, and promises to reshape the city’s appearance in the coming years. Using data from the Skyscraper Center database, real estate site Point2 Homes estimates that there are currently 81 skyscrapers either under construction or in the planning phase around Toronto. That would be more than double the current tally. The city...

read more

Park Hyatt makeover includes revamped rooftop bar, luxury rental apartments

Posted in Communications, Condo Conversions, Development, Finance, Housing, Industry Trends

Park Hyatt makeover includes revamped rooftop bar, luxury rental apartments

Oxford Properties has torn the wrapping off the design of its Park Hyatt hotel makeover revealing what it calls an artistic homage to Canada that includes the preservation of the brick and limestone facade on all sides of the landmark south tower at Avenue Rd. and Bloor St. When it reopens about a year from now, that building will house 65 luxury one- and two-bedroom rental apartments, including five penthouse suites, known as The Residences at Two Avenue Road. It will connect to the 219-room...

read more

Starlight acquires 45 buildings in less than 60 days

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

Starlight acquires 45 buildings in less than 60 days

Starlight Investments is a privately held Toronto-based, full service, multi-family and commercial real estate investment and asset management company driven by an experienced team of over 150 professionals. The company currently manages over $9.0 billion of direct real estate as well as real estate investment securities. Investment vehicles include institutional joint ventures, True North Commercial REIT, Starlight U.S. Multi-Family Funds and Starlight Capital Funds. Starlight Investment’s...

read more

New carbon tax kicks in for four provinces that fought federal plan

Posted in Bylaws / Regulations, Communications, Finance, Industry Trends, Legislation, Newsworthy, Utility Management

New carbon tax kicks in for four provinces that fought federal plan

People in Manitoba, Ontario, Saskatchewan and New Brunswick will be paying more for gasoline and heating fuel Monday when the federal government’s carbon tax begins in provinces that refused to impose their own emissions pricing. The federal tax is $20 a tonne for this year and is set to increase by $10 annually until it reaches $50 a tonne in April 2022. The starting rate adds 4.4 cents to the price of a litre of gas, about four cents to a cubic metre of natural gas, and also drives up...

read more

Vancouver city council to consider removing developer incentives for new rental housing

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

Vancouver city council to consider removing developer incentives for new rental housing

COPE councillor Jean Swanson has submitted a motion for consideration to “suspend, as soon as possible,” the development cost levy waiver private developers are provided for building market rental housing, until a review of Rental 100 is completed. She is requesting city staff to explore ways to use the municipality’s new rental-only zoning powers to incentivize new rental housing that “truly meets the needs of low and middle-income renters” and “stop incentivizing demovictions by excluding...

read more

CAPREIT Appoints Mark Kenney as Chief Executive Officer and Trustee

Posted in Appointments, Communications, Finance, Housing, Industry Trends, Newsworthy

CAPREIT Appoints Mark Kenney as Chief Executive Officer and Trustee

Canadian Apartment Properties Real Estate Investment Trust (TSX:CAR.UN) (“CAPREIT”) announced that Mark Kenney has been appointed Chief Executive Officer of CAPREIT and as a member of CAPREIT’s board of trustees, effective March 27, 2019. Mr. Kenney joined CAPREIT in 1998 and, since that time, has been actively involved in creating and implementing CAPREIT’s policy, building and directing the property management team, and overseeing the marketing, procurement and...

read more

ASH REIT to buy student accommodation across Ontario

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

ASH REIT to buy student accommodation across Ontario

Alignvest Student Housing Inc. has announced an investment in high-quality student housing across Ontario. The REIT aims to consolidate Canada’s high-quality student housing sector which is says is fragmented. It has been focused on this aim since its inception in June 2018. Alignvest is in conversations with several property owners across the country and this latest deal doubles its asset base, enabling it to make economies of scale. It will add more than 3,300 PBSA beds to the REIT’s assets,...

read more