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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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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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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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CAPREIT CONTINUES TO UNVEIL NEW MARKETS

Posted in Communications, Development, Finance, Housing, Industry Trends, Milestones, Newsworthy

CAPREIT CONTINUES TO UNVEIL NEW MARKETS

IN IRELAND REITS ARE THE NEW KIDS ON THE PROPERTY BLOCK – CANADA’S CAPREIT SEES OPPORTUNITY IRES REIT was created when Investec Bank invited Canada’s largest apartment REIT (CAPREIT) to look at a portfolio of 338 apartments which was being sold by Lloyds bank. CAPREIT was established in the Canadian downturn of 1997 and now owns and rents 41,200 apartments there. CAPREIT were surprised that there were no large scale professional investors in apartments in Ireland and saw a great...

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CMHC Spring Rental Market Report – Vacancy Rates Move Higher

Posted in CMHC, Communications, Housing, Industry Trends, Rent Control

CMHC Spring Rental Market Report  – Vacancy Rates Move Higher

Tenants in Ontario are enjoying greater choice in apartment availability, as CMHC’s spring 2014 rental market survey pointed to vacancy rates increasing to 2.8% from 2.6% one year ago. Ontario’s availability rate, which includes vacant units plus rental units where existing tenants are moving and a new tenant has not signed a lease, also increased from 4.5% to 4.9% year-over-year. Some major cities are seeing very high levels of apartment availability, such as in London (7.7% availability) and...

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Ontario Rent Guideline for 2015 is 1.6%

Posted in CMHC, Communications, Finance, Housing, Newsworthy, Rent Control

Ontario Rent Guideline for 2015 is 1.6%

Based on all available consumer price index (CPI) data from Statistics Canada, the rent increase guideline for 2015 will be 1.6%. This 2015 rent guideline was officially confirmed today by the Ontario Ministry of Municipal Affairs & Housing.  . The rent guideline is calculated using the average annual increases in CPI for each month from June to May. The data used to calculate the 2015 rent guideline is listed below. The Ontario government passed legislation on June 13, 2012 to amend the...

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Vancouver developer targets world’s wealthy with his ‘52-storey sculpture’

Posted in Development, Exterior Building, Housing, Newsworthy

Vancouver developer targets world’s wealthy with his ‘52-storey sculpture’

Canadian developer Ian Gillespie was in full spate as he described his vision for Vancouver as an Asia-Pacific hub, attracting the best and brightest to what is routinely ranked as one of the world’s most liveable cities. It is a vision that underpins his latest project: Vancouver House, a futuristic-looking high-rise that Gillespie predicted would become a landmark for the city when completed in 2018. The luxury residential tower is being marketed around the world, including Beijing,...

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