Howard Chai
Howard is a freelance real estate reporter based in Vancouver who covers the development industry, housing policy, and commercial real estate. He was previously Western lead at STOREYS, where his work was nominated for a Jack Webster award. He is also a contributor at Western Investor, RENX, The Tyee, and The Globe and Mail, as well as Founder of The Realist.
Development Projects
CLV Group Buys Ashcroft’s ReStays Hotel, Unsold Condos Under Receivership
The ReStays and ReResidences at 101 Queen St. and 108-116 Sparks St. in Ottawa was developed by Ashcroft Homes and was placed under receivership last year.
Affordable Housing
When Low-End Rents Get Harder To Afford, Homelessness Climbs: Study
“We found a clear relationship between homelessness rates and rent prices for lowest-quartile units,” said the Canadian Alliance to End Homelessness.
Development Projects
The 18 Toronto Developments Supported By $2.7B Federal-City Partnership
Build Canada Homes is providing $310 million towards 9 projects on City-owned land, while CMHC is providing $1.8 billion in financing towards 9 other projects.
Development Projects
Downtown Eastside Project Breaks Ground With Funding From Feds, BC Builds, UBC
The 11-storey mixed-use project is set for 315 Main Street (172 East Cordova Street) in Vancouver, and will be owned by the MAC Development and Housing Society.
Development Projects
Valour Group's 4-Phase Ajax Taunton Condo Project Placed Under Receivership
Valour Group was planning around 1,500 units at 361 Taunton Road West in Ajax, including condos, seniors living condos, and townhomes, but the project was placed under receivership on July 16.
Development Projects
Asia Standard Americas Proposes Third Condo Tower On Vancouver's Robson Street
The proposal includes social housing units, commercial space, and strata units, and is set for 1394 Robson Street, adjacent to the Landmark On Robson towers.
REITs & Institutions
Boardwalk REIT, Desjardins Form $292M Western Canada Multi-Family JV
The joint venture is a 50/50 partnership between Boardwalk REIT (TSX: BEI.UN) and Desjardins Global Asset Management (DGAM) with an initial portfolio of 4 assets.
REITs & Institutions
Crombie REIT Buys Safeway At South Surrey's Ocean Park Shopping Centre For $12.7M
The property has been classified under the REIT’s “income-producing” strategy — as opposed to the “redevelopment” strategy — though Crombie REIT is in the process of redeveloping multiple Safeways across Metro Vancouver.
REITs & Institutions
Allied Properties REIT Sells Dominion Square, 5 Other Toronto Assets For $123M
Allied Properties REIT (TSX: AP.UN) has set a disposition target of approximately $500 million, and is about halfway to that target through two quarters.
Sold
Private 93-Acre Turnagain Island On BC's Sunshine Coast Sells For $13M
The sale of Turnagain Island is the highest-value residential property transaction ever recorded on the Sunshine Coast, according Sotheby's International Realty Canada.
Development Projects
Sunray Group Buys North York Office Complex To Transform Into "Toronto Fortune Centre"
Slate Office REIT owned 95 and 105 Moatfield Drive in North York, then sold the complex in 2022 to Visionary Holdings Inc., which ended up in receivership in 2024.
Development Projects
Toronto Townhouse Project With 65 Unsold Units Placed Under Creditor Protection
At 1682 Victoria Park Avenue in North York, Solotex Group was planning a 147-unit townhouse project called Vic Towns. 65 units remain unsold.
Load more