Transformed parking lot to become Toronto’s second urban beach
Waterfront Toronto has broken ground on Canada’s Sugar Beach, a new park that is transforming a parking lot in a former industrial area into Toronto’s second urban beach at the water’s edge. Located at the foot of lower Jarvis Street adjacent to the Redpath Sugar Factory, the two-acre park will sport brightly coloured pink beach umbrellas and candy-striped rock outcroppings.
Daily Commercial News Mon Nov 16 2009
Hume: The (welcome) return of the office tower
There’s nothing unusual about the appearance of a new tower in Toronto, but a new office tower is something different. After a break of almost a decade, the corporate skyscraper is back. Suddenly it seems the slick facades of highrise corporatism are everywhere. Just weeks ago it was the opening of the Bay-Adelaide Centre. Now it’s the RBC Centre.
Toronto Star Mon Nov 16 2009
Avison Young hires Christopher Brown to Toronto leasing group Avison Young
Mark Fieder, President and Managing Director, Ontario of Avison Young, announced today the hiring of one of Toronto’s top leasing brokers, Christopher Brown, as a Vice-President in Avison Young’s Toronto leasing group. Brown joins Avison Young from global real estate services firm DTZ Barnicke, where he was most recently Vice-President, Leasing in the Toronto office of the company’s Canadian operations.
Canada News Wire Wed Nov 18 2009
TREB: Commercial Market Continues Recovery TREB Commercial
Last month, TREB Commercial Members reported 625,841 square feet of leased space. This result was down 64 per cent from the 1,749,657 square feet recorded in October of 2008, but up two per cent over the September figure of 614,830, and the best monthly performance since May. Lease rates were mixed last month. Industrial space (all size categories) leased for an average of $5.78 per square foot net (sfn).
Market Wire Wed Nov 18 2009
Canada’s OMERS eyes growth in real estate and infrastructure
OMERS Administration Corp plans to nearly double in size in coming years through organic growth, although the Canadian pension fund has no plans at present to merge with other large funds, Chief Executive Michael Nobrega told the Business News Network. The pension fund also plans to increase by 10% the share of investment assigned to private assets which includes real estate and infrastructure.
Reuters Wed Nov 18 2009
Is Sublet Really the Elephant in the Room? Smith Company
The recent completion of Bay Adelaide West and RBC Centre has added 3.2 million sf to the Downtown Toronto office inventory, and there is currently over 650,000 sf of space available for lease in these two buildings. In addition to that, there are another three buildings under construction Downtown, totalling 1.6 million sf with 625,000 sf of that currently available for lease.
Smith Company Newsletter Thu Nov 19 2009
The TTC’s coming day of fiscal reckoning
Filled to the brim with dignitaries, a Toronto Transit Commission bus pulled up to the main quad at York University yesterday on the inaugural run of a new rapid bus line. The nearly $40-million dedicated route, which will cut a 30-minute trip from the Spadina subway terminus to campus by half for 30,000 riders, is the TTC’s latest major expansion and will be followed by extension of the subway to York’s campus within six years.
National Post Mon Nov 23 2009
The case for greening Canada’s commercial real estate KPMG
Energy consumption in both old and new buildings can be cut by an estimated 30 to 50 per cent while producing a favourable return on investments, according to a recent report for KPMG, a leading accounting firm. Commercial buildings are a major source of both direct and indirect greenhouse-gas emissions, says the report entitled Climate Change: Risks and Opportunities in the Canadian Commercial Real Estate Market.
Globe and Mail Tue Nov 24 2009 – Market Wire
Green Buildings: Fewer Sick Days, Higher Rents CB Richard Ellis
Environmentally-friendly construction practices have gotten a lot of hype over the past few years but do they really pay off as an investment? A new study found that tenants in green buildings experience increased productivity and fewer sick days. The research also found that that green buildings have lower vacancy rates and higher rents than non-green counterparts.
Business Week Thu Nov 19 2009
Property investors enter era of cautious optimism Oxford Properties Group
A year after the shocking failure of several established U.S. financial institutions, the real estate market in Canada is changing and investors are entering into what Andrew Trickett, Senior Vice President, Global Principal Investment, Oxford Properties Group calls an era of cautious optimism. With respect to where investment will occur, Trickett thinks there will be a ‘heightened interest’ in Canada.
Real Estate News Exchange Tue Nov 24 2009
Toronto Office Vacancies May Top Boston, Manhattan
A surge in office construction in Toronto’s downtown may push the city’s vacancy rate higher than New York and Boston after developers added space during the first recession in 17 years. The proportion of empty space in Toronto’s office market, lower than the 12 largest U.S. business districts last year, will more than triple by 2011 to 13.6 percent, according to Cushman & Wakefield Inc.
Bloomberg Tue Nov 24 2009 – National Post
Toronto developer acquires Pontiac Silverdome
Andreas Apostolopoulos, president of Toronto-based Triple Properties Inc. didn’t expect to actually win when he mailed in a low-ball bid for an abandoned 88,000-seat stadium in suburban Detroit. After spotting an auction ad in the back of a newspaper only weeks ago, he decided to bid $583,000 (U.S.) for the Pontiac Silverdome, the former home of football’s Detroit Lions.
Globe and Mail Tue Nov 24 2009 – Toronto Star – Wall St. Journal
Private partner to build and finance new TTC projects
Metrolinx and the Toronto Transit Commission are in talks to bring in private partners to design, build and most notably finance the new Finch Avenue light rail line, the overhaul of the Scarborough rapid transit line and possibly the 33-kilometre partially buried Eglinton Crosstown line. It would be the first time a major infrastructure project in the city is bankrolled by the private sector and paid for with public dollars.
National Post Fri Nov 27 2009
Canadian REITs favoured over U.S. counterparts
Canadian REITs have risen 40% in value since bottoming out in early 2009, but CIBC World Markets senior economist Benjamin Tal thinks there is more to come and favours them over their U.S. counterparts. The availability of capital in the Canadian space suggests that commercial real estate on this side of the border will be the first to capitalize on improving economic conditions Mr. Tal wrote in a report.
National Post Fri Nov 27 2009
Toronto city eyes George St. renewal
City council will vote next week on a plan that would see condos and retail businesses spring up on one of Toronto’s most volatile streets. The city’s shelter, support and housing administration is proposing that the massive Seaton House shelter on George Street be demolished and replaced by commercial buildings, affordable housing, student rental properties and a redesigned shelter.
National Post Fri Nov 27 2009
Toronto Real Estate Forum: Commercial Real Estate Boom or Bust? Real Estate Forums
By most standard methods of measurement, real estate professionals gathered in Toronto this week have plenty of reasons for optimism. The residential market is on fire, with October sales numbers setting a record monthly high and average sale prices expected to reach a new record by the end of the year as well. Commercial real estate in this country also seems to be humming along.
Globe and Mail Mon Nov 30 2009
City set to vote on proposed BMO-field expansion
More Toronto soccer fans will be able to cheer on the home team if a proposed stadium expansion at city-owned BMO Field wins approval later this week. Toronto FC owner Maple Leaf Sports and Entertainment, which also manages BMO Field for the city, would pay the $2-million cost of adding 1,249 seats to the 20,000-seat stadium. The proposal is to be released today and to be debated Friday by the board of Exhibition Place
Globe and Mail Mon Nov 30 2009
