TRENDING: Bonnis Properties Sells Granville-Robson Retail Complex For $140M

Heritage Designation

Explore heritage designation in Canadian real estate — what it means, its restrictions, and how it protects historic properties.

Heritage Designation

July 29, 2025


What is a Heritage Designation?

Heritage designation is an official status given to a property that recognizes its historical, cultural, or architectural significance, protecting it under heritage conservation laws.

Why Heritage Designations Matter in Real Estate

In Canadian real estate, heritage designation preserves community character but may limit alterations or redevelopment.



Key points:
  • Imposes restrictions on changes to structure or appearance
  • May provide grants or tax relief for maintenance
  • Requires municipal or provincial approval for modifications



Understanding heritage designation helps buyers, owners, and developers manage obligations and opportunities.

Example of a Heritage Designation in Action

The property’s heritage designation required the owner to seek municipal approval before altering the building façade.

Key Takeaways

  • Protects historically significant properties
  • Restricts certain alterations or demolition
  • May offer financial incentives for upkeep
  • Requires approvals for changes
  • Preserves community character

Related Terms

Additional Terms

Recourse Loan

A recourse loan is a type of loan where the lender can pursue the borrower’s personal assets, beyond the collateral, in the event of default.. more

Pari Passu

A pari passu clause is a contractual provision ensuring that multiple creditors share equally in repayment priority from the borrower’s assets.. more

Non-Recourse Loan

A non-recourse loan is a type of loan where the lender’s only remedy in case of default is to seize the collateral property; the borrower is not. more

Net Operating Income

Net operating income (NOI) is the total income generated by a property after operating expenses are deducted but before taxes and financing costs.. more

Mechanic's Lien

A mechanic’s lien is a legal claim by a contractor, subcontractor, or supplier for unpaid work or materials provided for a property.. more

Lis Pendens

Lis pendens is a legal notice filed in the land registry indicating that a property is subject to ongoing litigation that may affect its title.. more

More For You

Starlight Planning 3 Infill Towers Up To 45 Storeys Near Lougheed Station

​Starlight Investments is proposing three new infill towers at Lougheed Village, located at 9500 Erickson Drive in Burnaby.

Starlight Investments is proposing three new infill towers at Lougheed Village, located at 9500 Erickson Drive in Burnaby. / NSDA Architects, Starlight Investments

Nearly a decade after acquiring the property, Toronto-based real estate investment and asset management firm Starlight Investments has unveiled a plan to add three additional towers to the site — without redeveloping the existing buildings and displacing the existing residents.

The property is known as Lougheed Village and is located at 9500 Erickson Drive, just west of the City of Lougheed (formerly known as Lougheed Town Centre) and the Millennium Line SkyTrain's Lougheed Town Centre Station. Currently occupying the site is two 24-storey high-rise buildings and two eight-storey mid-rise buildings with a grand total of 528 rental units. The site also includes a commercial concourse with several businesses and retailers.

Keep ReadingShow less

One-Of-A-Kind Modern Listed In The Heart Of Trinity Bellwoods

One-Of-A-Kind Modern Listed In The Heart Of Trinity Bellwoods

In one of Toronto’s most coveted pockets, nestled between the cultural buzz of Little Italy and the lush serenity of Trinity Bellwoods Park, sits a home that redefines luxury living with a worldly sensibility.

72 Montrose Avenue is not just another custom rebuild. It’s the culmination of a homeowner–builder couple’s extensive travels abroad, where inspiration was drawn from Europe and Asia alike, and was then carefully translated into every square inch of the residence.

Keep ReadingShow less

BC Issues Housing Supply Targets For Burnaby, Coquitlam, Richmond, And More

​The Brentwood neighbourhood of Burnaby.

The Brentwood neighbourhood of Burnaby. / EB Adventure Photography, Shutterstock

On Thursday, the Government of British Columbia announced housing supply targets for 10 more municipalities, bringing the total number of municipalities that have received targets to 40.

This group of 10 municipalities is the fourth cohort to receive targets and consists of Burnaby, Coquitlam, Courtenay, Township of Langley, Langford, Penticton, Pitt Meadows, Richmond, Squamish, and Vernon.

Keep ReadingShow less

Is Now The Time To Buy A Toronto Condo? For Some, It Should Be

Is Now The Time To Buy A Toronto Condo? For Some, It Should Be
shutterstock

It’s no secret that the Greater Toronto Hamilton Area (GTHA) condo market has seen better days, especially after the red-hot prices of the pre-2022 period. It’s characterized by an abundance of supply, decreased demand, lower prices, and a virtual halt in new project launches. New condo sales in the GTHA in Q2 2025 were down 69% year-over-year and a remarkable 91% below the 10-year average.

Rapid interest rate hikes, though softened now, made mortgages more expensive, a slew of completed projects has created a surge in new supply, and higher carrying costs have resulted in a pullback from investors.

Keep ReadingShow less

RioCan Eyeing Buyout Of Hudson's Bay From Georgian Mall, Oakville Place

​The Hudson's Bay storefront at Oakville Place in Oakville, Ontario.

The Hudson's Bay storefront at Oakville Place in Oakville, Ontario. / Lester Balajadia, Shutterstock

While Primaris REIT, Morguard, and several other of Canada's largest mall owners are trying to fend off a forced takeover of their Hudson's Bay spaces, RioCan REIT (TSX: REI.UN) is occupied with separating themselves from their joint venture with Hudson's Bay and a picture of what that separation will look like is now coming into view.

The joint venture between RioCan and Hudson's Bay was formed in 2015 with each partner contributing some of their real estate assets. Hudson's Bay contributed 10 properties — five it owned via freehold (inclusive of the land) and five it owned via leasehold (not inclusive of the land) while RioCan contributed a 50% co-ownership interest in two of its malls in Ontario plus cash.

Keep ReadingShow less

Dream Residential REIT Acquired By US-Based Morgan Properties In $354M Deal

Dream Residential REIT announced it was undergoing a review earlier this year, which is now ending with a sale to Morgan Properties.

Dream Residential REIT announced it was undergoing a review earlier this year, which is now ending with a sale to Morgan Properties.

After announcing that it was undergoing a "strategic review" of its operations in February, Dream Residential REIT (TSX: DRR.UN) announced on Thursday morning that it has entered into an agreement to be acquired by an affiliate of Philadelphia-based Morgan Properties, which brings an end to the review.

The agreement will see Morgan Properties acquire Dream Residential REIT in an all-cash transaction valued at approximately $354 million USD (roughly $492 million CAD).

Keep ReadingShow less

Nicola Wealth Revises Two W 41st Projects After Buying Out Coromandel

​The proposal for 375-475 W 41st Avenue (left) and 325-343 W 41st Avenue and 5696 Alberta Street (right).

The proposal for 375-475 W 41st Avenue (left) and 325-343 W 41st Avenue and 5696 Alberta Street (right). / Arcadis, Nicola Wealth Real Estate

While the saga of Coromandel Properties' insolvency continues to play out, its former partners are moving onwards and upwards. Literally.

In March 2022, Nicola Wealth Real Estate — the real estate division of Vancouver-based investment management firm Nicola Wealth — announced a partnership with Coromandel Properties on two projects in Vancouver, both located along W 41st Avenue near the intersection with Cambie Street and the Canada Line SkyTrain's Oakridge-41st Avenue Station.

Keep ReadingShow less

37-Storey Infill Rental Building Proposed For Midtown Toronto

37-Storey Infill Rental Building Proposed For Midtown Toronto
Left: Proposed tower at 77 Davisville/CORE Architects - Right: Existing apartment building/Google

A new 37-storey purpose-built rental tower could join an existing 29-storey apartment building in Toronto's South Eglinton-Davisville neighbourhood that would provide 400 new rental units within walking distance of higher-order transit.

The rental building currently occupying the site is operated by Brookfield Properties and plans were filed by Goldberg Group on behalf of 77 Davisville Nominee Inc. in late July. Plans support a Zoning Bylaw Amendment application to allow for the increased height of the proposed infill development.

Keep ReadingShow less
Privacy PolicyAbout UsTerms of UseAdvertise with UsJobsContact UsRSS Feed
2025 © STOREYS Publishing Inc. | All Rights Reserved