Toronto's Condo Market Hits
Dizzying New Heights
The GTA reached a record-high 27,217 new-condo sales in 2016, a 34% spike over 2015, according to Urbanation. And expect ceaseless demand to continue fuelling a high-velocity market this year.
Rodeo Drive Condos (rendered above), the latest phase of residential development at CF Shops at Don Mills, was a top-seller in 2016. Urbanation found overall GTA condo sales for the year beat the previous record set in 2011, but on far…
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EY Is Moving Its HQ To Montreal's Maison Manuvie
EY has inked a deal to locate its HQ at Montreal's Maison Manuvie, taking 86k SF over four floors at the Manulife- and Ivanhoé Cambridge-owned 27-storey tower. The firm plans to create a new work environment for its 750 employees…
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Lowe's Canada Plans Nationwide Hiring Spree For 54 Stores
Lowe's Canada, which acquired Quebec-based home improvement chain Rona Inc. last May in a $3.2B takeover, said yesterday it plans to hire 2,800 new employees to fill seasonal roles at its 54 Lowe's banner stores. It also plans to add…
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Pure Multi-Family REIT Acquires Texas Multifamily Community
Vancouver-based Pure Multi-Family REIT has closed on its acquisition of a 288-unit Dallas-area multifamily community for U.S.$40M. The community, Lansbrook, in rapidly growing Allen, Texas, was built in 2002 and has value-add potential, the trust said. Median household income in…
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UK-Based Firms Prepare For A Difficult Brexit As Parliament Votes To Start The Process
Brexit is in limbo no longer. UK Parliament has voted in favor of Prime Minister Theresa May beginning the country's removal from the European Union, and UK-based companies are growing increasingly wary of its effects.
UK-based Aviva Investors CEO of global real estate Ed Casal said despite efforts to come up with a contingency plan prior to the vote, the company is spending more money to study the effects of Brexit, and may relocate operations to other European countries.
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Baby Boomers Of Affluence: Demand For Senior Housing Developments In Urban Metros Grows
Every day, 10,000 Baby Boomers are turning 65, a trend likely to persist for the next 12 years, according to Pew Research. That is leading to demand that is driving investment in senior living communities beyond the norms of the past, especially since this group wants to retire in style. From high-rise buildings in urban infills to luxury amenities open to the masses, we broke down several trends to expect in senior living this year, according to Rocky Berg (pictured), principal and director of business development for the company three: Living Architecture.
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