As construction continues on the new St. Paul's Hospital in the False Creek Flats area of Vancouver, Providence Health Care appears to be ready to move on to the second project planned for the hospital campus: the Clinical Support and Research Centre (CSRC) that was approved by the Province in December. The hospital campus is set for a site just north of Pacific Central Station — 1002 Station Street — that's bound by Prior Street on the north, a new street to be constructed on the east, National Avenue on the south, and Station Street on the west. The main hospital building will be situated ..read more

Real estate developers are often perceived as corporate entities who are always – and only – after more savings and higher profits. But that perception has perhaps started to change over the course of the past year, as developers facing insolvencies has become a bigger and more common story and people are starting to understand that real estate development is not a surefire moneymaker. In Metro Vancouver, the first — and biggest — domino to fall was Coromandel Properties, who filed for creditor protection under the Companies' Creditors Arrangement Act (CCAA) in February 2023 after accruing ..read more

On Monday, the Province announced the first eight development sites that are being made available through its new BC Builds program and that it's now accepting development proposals for these sites. All eight developments sites have been pre-zoned and the Province is now seeking proposals to connect residential developers and housing operators with the owners of the land. Submission deadlines for the properties vary, with the earliest set for late-May and others set for late-July. The eight sites and their details are as follows: 20230-72B Avenue, Langley (Township) 20230-72B Avenue, Langley ..read more

While the Canadian housing market may have softened after its red-hot, pandemic-inspired run – resulting in lower home prices from coast to coast – the country’s sky-high interest rates have rendered it officially the toughest time to purchase a home in the country's history. Inflation and a deflatingly high cost of living certainly don’t help. While rates remain high (although no longer rising), economists forecast that the Bank of Canada could begin to drop its overnight lending rate in the second half of the year. So, countless would-be buyers are sitting in the sidelines, waiting for a d ..read more

Known for their floral-forward prints, crisply tailored suits, and eyebrow-raising price tags, Ted Baker is one of those brands that sells a lifestyle as much as it sells clothing. But the luxury retailer’s days may very well be numbered in Canada. On Wednesday, the Ontario courts granted an order pursuant to the Companies’ Creditors Arrangement Act (CCAA) appointing Alvarez & Marsal Canada Inc. as monitor over the business and financial affairs of Ted Baker Canada. The Canadian arm of the UK retailer currently comprises of 25 stores across the country, including nine operating under the ..read more

Canada’s cottage country has been front and centre in real estate headlines this week. And the talk of the town(s) isn’t the fact that the official start to the country’s beloved cottage season is just a few weeks away; rather, it’s the newly introduced increase in capital gains tax via the latest federal budget – something way less easy and breezy than a dockside brew. For those (perhaps blissfully) in the dark, last week’s Budget 2024 announced new capital gains tax changes that will see those who sell recreational properties dish out more of their profit to the government. When it comes t ..read more

Trouble and debt are actively mounting for Quarry Rock Developments, a Burnaby-based real estate developer of low-to-medium density residential projects across the Lower Mainland. This month, separate receivership proceedings and foreclosure proceedings were initiated against two more of the company's properties, adding to an already extensive list. Many of the receivership and foreclosure proceedings against Quarry Rock Developments were initiated in Fall 2023 (after it sold its Parque On Park development for $54M), with more initiated this year, and the numerous cases are currently at vari ..read more

Toronto’s perpetually growing skyline might see another high-rise development come to fruition in the coming months. This time within metres of the hustle and bustle of Yonge and Eglinton — which in recent years has seen several mixed-use towers pop up. According to a recent development application submitted to the City of Toronto by Madison Group, plans are in motion to transform 50-60 Eglinton Ave West, 90 Eglinton Ave West, and 17-19 Henning Ave into a modernized mixed-use build. With improvement proposals dancing back and forth since 2014, the section of Eglinton Avenue West between Henn ..read more

One of Toronto’s most unique listings is back on the market. It’s a shining example of innovative home design; modern and functional, and packed with one-of-a-kind talking points. The detached, three-storey two-bedroom, four-bathroom home is located in the city’s Dufferin Grove neighbourhood and is listed for $1,399,000. The only catch? It’s only for the narrow-minded – literally. You can’t miss the home at 138 Clarens Avenue. In short, the ultra-narrow – but sleek and eye-catching – abode is made from shipping containers. In fact, at five years old, it was one of Toronto’s initial shipping ..read more

These days more than ever, Toronto is synonymous with big buildings that make big impressions. But if you survey the city’s array of high-rises, both current and up-and-coming, you’ll notice that most tend to abide by a rather boxy persuasion: four sides, four corners, and maybe a series of stepbacks (in true Toronto fashion). Against that context, a triangular, 38-storey hotel tower slated for 820 Church Street in the heart of Yorkville brings something unique to the table. And in a twist of events, the land the development was set to sit on has come up for grabs. The sale of the 5,120-sq ..read more