Articles from Connect CRE

Cyclic Materials, a Canadian startup, is planning a US$25-million magnet recycling facility in Kingston, Ontario. The 140,000-square-foot plant will house a research and development center and commence processing 500 tonnes of rare-earth elements annually by early 2026. This facility will play a pivotal role in the energy transition by recycling materials for EV motors, wind turbines, and more. Cyclic also plans to open its first commercial REE recycling facility in Mesa, Arizona by 2026.

Invesque has sold 20 seniors housing communities to Commonwealth Living and divested its majority stake in the management company. The proceeds from the sale were used to repay debt and settle equity obligations. This sale is part of Invesque's strategy to reduce leverage and prepare for potential shareholder approval to sell or lease substantially all of its assets. Invesque continues to face financial challenges, and its current portfolio consists of 32 assets, with 12 under contract for sale.

The Canadian federal government plans to introduce a legislation to exempt the 5% GST on select new homes for first-time buyers. This measure aims to improve housing affordability and stimulate the new-home market, especially benefiting those in high-priced areas like Toronto and Vancouver. The full GST rebate applies to homes up to $1 million, with a sliding scale reduction for more expensive homes. The legislation must pass through the House of Commons and Senate before becoming effective.

Peakhill Capital has introduced a new division called Peakhill Project Advisory, focusing on providing project advisory, development management, and delivery oversight. The division aims to help real estate stakeholders navigate complex projects by offering strategic risk management, procurement strategies, and construction oversight. Led by Michael Grossman, the division combines project leadership with financial strength to minimize risks and optimize outcomes. It offers tailored services for clients throughout all project phases, leveraging proven processes and tools.

Honda has paused its $15 billion EV investment in Alliston, Ontario, as part of a strategic shift focusing on hybrid-electric vehicles and reducing global EV investment from $96.4 billion to $67.5 billion. The delay is attributed to relaxed environmental regulations in the U.S. and Europe, causing slower EV market growth. Despite the pause, Honda insists the Alliston project remains central in its long-term strategy, with planned support from government tax credits. Honda has been producing vehicles in Alliston since 1986.

Manulife Investment Management and Cedar Podium Investment Management are collaborating to develop a purpose-built student housing project in Kingston, Ontario. The 15-storey building will provide 178 units and 389 bedrooms, specifically for Queen's University students, and will include amenities such as a fitness center and study areas. The project aims for Zero Carbon Design certification and a two-star Fitwel rating, highlighting a focus on sustainability and wellness. Construction will start in 2025, with completion expected in 2027.

The Supreme Court of Canada has allowed CN Rail's $250-million logistics hub project in Milton, Ontario, to proceed by dismissing an appeal aimed at stopping the development. The project seeks to double CN's rail capacity in the Halton region and includes an inter-modal facility for transferring shipping containers from trains to trucks. A challenge by the Halton Region and local authorities against the federal government's approval was not upheld, as the Federal Court of Appeal had previously ruled the government's decision to approve the project as reasonable despite environmental concerns.

Honda has announced a two-year delay in its $15 billion electric vehicle project in Ontario due to declining EV demand and tariff uncertainties. While CR-V production is being shifted from Canada to Ohio, Honda assures that there will be no impact on Canadian jobs. The project, which includes creating a battery plant and other facilities, initially received government support and was projected to add 1,000 jobs. This delay highlights the challenges faced by the automotive industry in Canada amidst tariff-related pressures.

Windmill Development Group, in partnership with a local entrepreneur, is developing the Evergreen, a sustainable nine-storey mixed-use project in Ottawa's Sandy Hill. The project will feature 121 new homes and prioritize adaptive reuse and heritage preservation, combining modern design with historical elements like the reused components of the adjacent All Saints Anglican Church. This initiative aims to foster sustainable and socially engaging communities, reflecting Windmill's adherence to the global One Planet Living principles.

Capital Developments has topped off the 29-storey Olive Residences condo project in Toronto's North York area. Despite concerns about an oversupply of condos in the city, CEO Carlo Timpano argues that low vacancy rates suggest otherwise. The company plans to wait for economic and market stability before starting new projects. The current macroeconomic uncertainties and tariff impacts are influencing investment decisions in the region.

A new AC Hotel by Marriott has opened in downtown Ottawa, located at 201 Rideau Street near popular attractions. Developed by RIMAP Hospitality, the hotel introduces the European-inspired AC Hotels brand to Canada’s capital. The hotel features 159 rooms and offers modern amenities including a pool, gym, and the AC Lounge with tapas-style dining. RIMAP Hospitality aims to expand its footprint in key Canadian markets through this investment.

Capital Developments has completed the topping off of Olive Residences, a 29-storey condo project in Toronto, marking a significant milestone in its construction endeavors. Located in North York, the development nearly sold out within its first quarter of sales after its early 2023 launch. It features high-end amenities and is designed by Arcadis with interiors by Michael London Design, with occupancy expected by fall 2025. This project adds to Capital's growing portfolio in Toronto, including other significant projects like 11 Yorkville and 8 Elm on Yonge.