Real Estate News
Industry
Quarry Rock Developments In BC Subject Of 9 Receiverships, Foreclosures
Projects by Quarry Rock Developments that are currently under receivership or foreclosure include The Willoughby, The Met, The Gordon, and The Graham.
Apr 26, 2024
Development Projects
Another Mixed-Use, Multi-Tower Development Proposed For Yonge And Eglinton
Toronto’s perpetually growing skyline might see another high-rise development come to fruition in the coming months. This time within metres of the hustle and bustle of Yonge and Eglinton — which in recent years has seen several mixed-use towers pop up.
Listed Commercial
Yorkville Development Site Zoned For 38-Storey Hotel Listed For Sale
The sale of 820 Church Street in being brokered by Colliers, and the property is currently zoned for 38 storeys, 118,920 sq. ft of gross floor area, and 172 units.
Policy
Toronto’s New Condo Development Charges Could Hurt Affordability (Even More)
On May 1, development charges on Toronto condos will increase 20.7% from their current rates, meaning the average one-bedroom and bachelor unit will now cost $44,774 in development charges (up from $37,081).
This $3.7M Arthur Erickson-Designed Townhome Is A Work Of Art
A home needs to be more than just aesthetically pleasing to be an artistic dwelling; it needs to inspire its inhabitants through unique, thought-provoking design, that pushes boundaries and transcends the norm. (You’ll know one when you see it.)
Policy
The Canada Rental Protection Fund Is Launching With Just... $5M?
Budget 2024 documents reveal that the $1.5B Canada Rental Protection Fund will be launching with just $5M in its first year.
Industry
Bankrupt Cambridge Homebuilder Denied Licence Renewal
An investigation has found that Hira Custom Homes had previously “attempted to sell homes that were already under an Agreement of Purchase and Sale, unjustifiably increased prices, did not comply with conditions on its licence, and provided false information to both purchasers and the HCRA.”
Industry
St. Catharines Developer Slammed With 26 Charges For Illegally Selling Homes
The HCRA has revealed that Christopher Lamb and his former company Novel Condominiums “have been found guilty of 26 charges of selling new homes illegally,” and as a result, have been hit with a $150,000 fine.
Development Projects
Westbank And Crombie REIT To Revise Broadway-Commercial Safeway Plans Once More
The Broadway-Commercial Safeway redevelopment by Westbank and Crombie REIT has seen numerous revisions over the past few years, and is going to get another.
Development Projects
Receivership Order In Effect For Approved Dundas And Shorncliffe Development Site
Contessa Developments’ plans to bring a 22-storey purpose-built rental building to the site have forcibly come to a stand-still after receivership proceedings were initiated last summer.
Construction
Q1 Sets Record Lows For New Home Sales In The GTA
New home sales in March were down 16% from March 2023 and 66% below the 10-year average, according to Altus Group, BILD’s official source for new home market intelligence.
Policy
BC Gov Announces Next 20 Cities To Receive Housing Targets
The next group of municipalities to receive housing targets under the Housing Supply Act include Surrey, Kelowna, and New Westminster, among others.
Development Projects
Madison Group Master-Plan Pulls In “World-Renowned” Rafael Viñoly Architects
The forthcoming master-plan community will comprise of four towers, and will jointly bring 2,364 new residential units to the site on Eglinton Avenue.
Condos
BC Spring Market Forecast: What Presale Buyers Can Expect In The Coming Months
To kick off 2024, the presale market in Metro Vancouver has been a bit better than perhaps some were expecting, but also not great. So, what's next?
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