Howard Chai
Howard is based in Burnaby and covers real estate, housing policy, and the development industry. You can email him at howard@storeys.com or message him anonymously on Signal at HowardChai.24.
Staff Writer & Western Lead
Policy
BC Sets 2026 Rent Increase Cap At 2.3%, Tying It To Inflation
The 2.3% maximum rent increase cap set for 2026 is a significant decrease from the 3.0% that was set for 2025.
Multifamily
PCI Sells 3 East Van Rental Buildings Valued At Over $160M To Realstar
PCI Developments has sold its Yarrow, Aster, and Kaslo rental buildings in East Vancouver to RealStar in a share sale.
Multifamily
Landa Global To Buy Burnaby Siena Project Under Receivership For $12M
The Siena the Heights project at 4451 Hastings Street in Burnaby was being developed by I4 Property Group before it was placed under receivership in February.
Development Projects
Starlight Planning 3 Infill Towers Up To 45 Storeys Near Lougheed Station
Starlight Investments acquired 9500 Erickson Drive, also known as Lougheed Village, in 2015 and is now planning three additional infill towers.
Policy
BC Issues Housing Supply Targets For Burnaby, Coquitlam, Richmond, And More
This fourth cohort brings the total number of municipalities that have received housing supply targets from the Province to 40.
Retail
RioCan Eyeing Buyout Of Hudson's Bay From Georgian Mall, Oakville Place
RioCan owns 50% of the Georgian Mall and Oakville Place, while the RioCan-Hudson's Bay joint venture owns the remaining 50%.
REITs & Institutions
Dream Residential REIT Acquired By US-Based Morgan Properties In $354M Deal
Dream Residential REIT (TSX: DRR.UN) announced it was undergoing a review earlier this year, which is now ending with an all-cash sale to Morgan Properties.
Development Projects
Nicola Wealth Revises Two W 41st Projects After Buying Out Coromandel
Nicola Wealth Real Estate and Coromandel Properties announced both W 41st Avenue projects a year before the latter filed for creditor protection.
Retail
Bonnis Properties Sells Granville-Robson Retail Complex For $140M
The high-profile retail complex at 798 Granville Street in downtown Vancouver was listed for sale in late-2023.
Policy
Edmonton Introduces $15M Downtown Student Housing Incentive Program
The Cit of Edmonton's new Downtown Student Housing Incentive would provide up to $30,000 per unit of student housing.
Development Projects
Reliance Ups Davie Street Condo Tower To 32 Storeys, Cuts Office Space
Reliance Properties submitted the original rezoning application for 904-920 Davie Street in Vancouver in November 2023.
Policy
Feds Outline Initial Vision For New 'Build Canada Homes' Entity
Prime Minister Mark Carney promised to "get the government back in the business of building" as part of the Liberals' election platform.
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