Articles from Connect CRE

Global Education Communities is developing two rental-housing projects near the new Oakridge shopping centre in Vancouver. The projects will benefit from their proximity to Canada Line rapid-transit stations, catering to student housing demands and a broader multi-family rental market. Construction on the first project, GEC Oakridge, is underway and expected to complete by mid-2027, while the second project, GEC Langara, is still in the city approval process. Both developments are part of a broader collaboration with Pomerleau Capital to deliver an $800-million student-housing portfolio across Metro Vancouver.

In August, a wildfire in Kingston, Newfoundland and Labrador, caused approximately $70 million in insured damages to homes, businesses, and infrastructure, prompting the evacuation of around 3,000 residents. The event was the largest insured property loss in Atlantic Canada this year, highlighting the increasing risk and cost tied to extreme weather events. The Insurance Bureau of Canada is urging investments in resilient infrastructure and stricter building codes to mitigate the impact of future disasters. Prolonged dry conditions and high temperatures have intensified wildfire risks in the region.

In August, housing starts in Canada's major markets rose 10% compared to the previous year, as reported by the CMHC. However, a monthly decline was observed with the seasonally adjusted annual rate (SAAR) of housing starts for Canada falling 16% from July 2025. The slowdown aligns with forecasts, with Vancouver and Montreal showing significant yearly gains. Despite this, rural housing starts decreased 4% year-over-year.

Residential developers in Canada are positive about collaborating with the federal government's new Build Canada Homes (BCH) agency, which aims to support private builders rather than undertake construction itself. BCH will concentrate on creating affordable housing, initially using public land in various cities including Dartmouth, Ottawa, and Toronto. The agency will work alongside the Canada Mortgage and Housing Corporation and aims to boost the non-market housing sector. Key figures in the industry, like Polygon Realty's Neil Chrystal, appreciate the partnership approach with the private sector.

Groupe HD, based in Montreal, is expanding into the private seniors housing sector after focusing on condominium and multi-family rental projects for the past five years. The company has five projects in the planning stages and plans to partner with experienced operators in the seniors residence sector to manage these new communities. The move is part of a strategy to address a growing need for quality seniors housing. Their collaboration on a large Montreal apartment complex with Fondaction highlights this commitment.

The federal government is investing $13 billion in the new Build Canada Homes program, which aims to expedite affordable housing construction across Canada. The initiative plans to use federal land, partnerships, and financial tools to double housing supply and reduce homelessness, with an initial focus on six federal sites. Additional funding will go towards rental protection, transitional housing, and partnerships with Indigenous communities. Ana Bailão has been appointed CEO, and the program will prioritize using domestic materials to counter US tariffs.

Rosedev has put up the Tour Jean-Talon office tower in Montreal for sale at $56 million, with CBRE managing the sale. The 12-storey building, located in Little Italy, includes office and retail space spanning 332,248 square feet and offers direct access to the subway. Approximately 250,000 square feet are available for immediate leasing following a tenant's consolidation. The property is attractive to both owner-occupiers and investors aiming for repositioning or redevelopment opportunities.

The Ottawa city council has approved a six-tower mixed-use residential project near St. Laurent shopping centre. Groupe Oradev plans to build 1,768 multi-residential units with office and retail spaces integrated into the podium. These towers will range from 21 to 35 storeys and will include a public park in the development. The project will also feature approximately 13,000 square feet of non-residential space.

Investment in Canadian building construction increased by 5.6%, the strongest gain since Q3 2020, according to Turner & Townsend. This rise is driven by an 8.2% jump in residential construction due to a backlog of multi-unit projects and robust demand for rental apartments. Non-residential construction rose 2.5%, supported by progress on institutional projects such as schools and hospitals. However, this momentum may not continue due to uncertainties in trade policy.

For the first time, Canadian executives in the multi-family real estate sector have been recognized with the ApartmentBuildings.com 100 Awards. These annual awards, organized by Connect CRE, celebrate innovation and accomplishment in areas such as build-to-rent and mixed-use developments with residential components. Prominent Canadian winners include BJ Santavy, Naama Blonder, Sarah Segal, Mark Goodman, and Harvey Russell for their exceptional achievements in the industry.

The Canada Infrastructure Bank is financing a $100 million loan to Cando Rail & Terminals for the expansion of the Sturgeon Terminal in Alberta's Industrial Heartland. This project, expected to be completed by late 2026, will double the terminal's capacity by adding 3,700 new railcar storage and staging spaces. It will create up to 50 local jobs and boost the region's GDP by more than $22 million annually. The expansion will enhance Western Canada's supply chain by improving market access through connections to major ports.

Urbacon Data Centre Solutions (UDCS) has secured $320 million in financing to further develop its data center facilities in Toronto's Barker Business Park. This expansion will enable the park to deliver approximately 150MW of capacity across six facilities. The financing received a high rating and was oversubscribed, highlighting investor confidence in UDCS's capabilities. UDCS is recognized as Canada's only fully integrated developer, designer, builder, and operator of mission-critical data centers.