Associate Editor

Taxes

Easing Does It: Bank Of Canada Lowers Interest Rate By Another 0.25%

Wednesday’s cut brings the policy interest rate down to 4.5%, and was by and large anticipated by economists with Canada’s ‘Big Five’ banks.

Economy

Where Every Big Bank Stands On Tomorrow's Interest Rate Announcement

Recent data releases have been encouraging on the interest rate front, and economists with CIBC, RBC, and BMO are optimistic that we will see a quarter-point cut from the Bank of Canada tomorrow.

Industry

OREA CEO Tim Hudak Steps Down After Seven Years

Tim Hudak has revealed to OREA members that he is stepping down as chief executive officer, effective August 2, 2024.

Real Estate News

"A Record High": Nearly 26,000 New Condo Units Going Unsold In GTHA

Amid weak condo market conditions, more projects are expected to be put on hold or ultimately pulled from the market.

Construction

Housing Starts Are Buckling Under Interest Rates — And Cuts Aren’t Going To Save Them Anytime Soon

We may have gotten some good news on the rate cut front with the latest inflation dip, but economists with CMHC have warned that a “partial rebound” in starts activity isn’t expected until 2025, or maybe even 2026.

Industry

Ottawa Shopping Mall Makes A Comeback From Receivership Order Issued In June

As far as receiverships go, things have taken an atypical turn for the Ottawa Train Yards, which were involved in an appointment order in early June amid allegations of a $40M debt.

Development Projects

Liberty Development Unveils 36-Storey Condo To Kick Off Six Points Plaza Redevelopment

The multi-phase project was approved by the City in July 2023, and will see Liberty Development bring buildings ranging from eight to 45 storeys to the site of the popular Etobicoke shopping mall.

Real Estate News

It’s Been One Year Of Olivia Chow. Here’s What She’s Done For Housing

In her first 12 months, Chow’s housing record has seen her already make good on many of her campaign promises, staying true to her emphasis on affordable housing and proving to be a champion for renters.

Development Projects

35- And 39-Storey Condos Proposed Near “Under-Utilized” Glencairn Station

Osmington Gerofsky Development Corp has set sights on a stretch of single-detached houses just a stone’s throw away from Glencairn subway station and a 15-minute walk from the future Eglinton Crosstown LRT.

Industry

Buyer Found For Vandyk’s King’s Mill Site Under Receivership

As part of the sale of the property to PAD Investments Ltd., it appears that existing pre-sale agreements will be terminated per a notice sent to buyers of The King’s Mill project on June 28.