Zakiya Kassam
Zakiya has reported on real estate for Apartment Therapy, Curbed, and Post City Magazines. She also writes a quarterly series for a Canadian design publication.
Associate Editor
Economy
Where Every Big Bank Stands On Wednesday's Interest Rate Announcement
Another quarter-point drop is on the table this week, but economists with Canada’s ‘Big Five’ banks are by and large thinking bigger.
Industry
Mizrahi Developments Project In Ottawa Enters Restructuring
According to an Oct 15 order, Mizrahi Developments filed for creditor’s protection and the company is seeking interim financing of up to $2,345,000.
Industry
6,800 New Condo Units Changed To Rental, Cancelled, In Receivership Since 2022 Across GTHA
In the third quarter alone, three active condo projects totalling 1,111 units were converted to purpose-built rental, while eight projects totalling 2,231 units were put on hold, cancelled, or placed into receivership.
Renting
Roommate Rental Listings Up Nearly 50% Across Major Canadian Markets
“Vancouver and Toronto […] have experienced a notable increase in condo units where owners are subletting spare bedrooms. Additionally, condo investors in these cities are listing individual bedrooms within larger units, thereby offering lower asking rents to attract prospective tenants.”
Renting
Canadian Rent Growth Slows To 3-Year Low As International Student Enrolments Plunge
Urbanation President Shaun Hildebrand notes that foreign student enrolments have dropped off “by roughly a half from their record highs,” and that the effects have been felt most in Ontario and BC.
Industry
CBRE To Broker Sale Of High Park Church Conversion Under Receivership
Construction on the High Park site has not advanced since late 2023 when the trade contractors abandoned the project “due to liquidity challenges and other delays.”
Mortgages
“All About Gentle Density”: Feds Unveil New Mortgage Refinancing For Secondary Suites
Somewhat jarringly, the product will allow eligible homeowners to access up to 90% of their property’s value, including the value added by the secondary suite, with a property value limit up to $2 million.
Renting
Toronto Rental Starts Slashed In Half As “High Cost Of Financing” Cuts Into Profitability
The plunge in purpose-built rental starts can additionally be attributed to “consecutive months of declining asking rents,” according to Canada Mortgage and Housing Corporation.
Industry
Kevin Crigger Appointed Associate CEO Of TRREB, President of PropTx Innovations
Crigger previously served as President of TRREB and Chair of PropTx Innovations Inc.
Construction
‘There’s Going To Be A Crisis’: New Condo Construction Is Heading Toward A Cliff
“This is not something where you can flick a switch and all of a sudden we have deliveries. We know that if we're not starting anything in ‘25, there are going to be no deliveries in ‘28.”
Industry
Mizrahi’s Stakes In Yorkville Luxury Condo, Vaughan Pre-Con Sold By Court Order
Both project comes from Sam Mizrahi — the Toronto real estate developer whose name was splashed across headlines after being forced off The One earlier this year.
Retail
Tokyo Smoke Seeking “Interested Bidders” Weeks After Announcing Restructuring
Tokyo Smoke’s parent company has initiated a stalking horse bid, which means that the company stands to be bought out in an effort to maximize the value of its assets.
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