Across North America malls are struggling due to changing demographics, competitive e-commerce, and discount stores. Developers in Texas are responding in innovative ways to gain traffic by expanding the mix to include more restaurants, entertainment, heath care and even education. An “experiential” marketing strategy is being used with a feel more like an amusement park
Oxford Properties and One Eleven are redeveloping Front Street and transforming it into a downtown innovation cluster. They are hoping that this development called Union Park will turn Toronto into a centre for technological development. The existing five-storey building will eventually house high-growth startups and development labs for large companies. The new facilities will accommodate
Sales of commercial real estate reached about $13 billion last year compared to $8.8 in 2015. President of the region’s real estate board, Dan Morrison, believes it reflects the confidence in B.C. and the Vancouver economy. The surge in commercial real estate sales might also be impacted by the introduction of the 15% tax on
Eric Rosengren, an influential regulator at the U.S. Central Bank, is urging global regulators to consider tools to cool down the U.S. real estate prices. He believes that the significant rise in apartment prices may indicate financial instabilities that rates alone can’t contain. He states that a “greater emphasis on macro-prudential tools” such as rules
Brad Lamb predicts a land-value boom in Calgary and Edmonton. Lamb Development Corp. is planning “five or six more high-rises in Edmonton over the next 20 years.” He says he’s well used to dealing with “recessions and downturns and problems,” which “are a daily occurrence” in the industry. Is it time to look at the Calgary/Edmonton market?
Dave McKay, CEO of RBC, sees a dangerous mix of ultra-low rates, lack of supply of single family homes, speculation, and foreign money coming into Toronto at increasing rates. This has happened since Vancouver dampened its market with a foreign buyers’ tax. He believes that similar measures are needed in Toronto. This year’s housing prices
Join us next week February 15 & 16 in Vancouver at the Convention Centre West for BuildEx 2017! BUILDEX Vancouver is Western Canada’s largest tradeshow and conference for the Construction, Renovation, Architecture, Interior Design, and Property Management industries. With over 600 exhibits, and more than 80 educational seminars BUILDEX attracts over 14,000 attendees annually. Click
Mike Wheatley discusses the growing concern for the country’s inability to house its aging population over the next twenty years. According to a report conducted by Harvard, only 3.5 percent of existing homes cater to senior citizens, as home builders remain their focused on higher-end homes. Affordability will be one of the greatest concerns for
Guy Dixon of The Globe and Mail examines Calgary’s economic struggles in the real estate market. During Q4 2016, thousands lost their jobs and a quarter of the city’s office space became vacant. However, Colliers International remains optimistic. Colliers argue that with the oil and gas sector showing signs of stability, helping to stabilize energy
Bethany Lindsay of the Vancouver Sun discusses the effects of B.C. government’s foreign tax affecting foreign buyers in Metro Vancouver. According to property tax data in November, 4.1 per cent of Vancouver’s residential transactions involved foreign buyers. After the 15 per cent tax was introduced, less than 1 per cent of real estate transactions involved
