Articles from Connect CRE

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.

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.

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.

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.

Toronto is experiencing its lowest housing starts in 30 years due to declines in condominium construction, largely driven by reduced investor demand and high costs. Rental-apartment construction also decreased, although less sharply, and similar trends were observed in Vancouver due to high development charges and pre-sale requirements. Across Canada, while purpose-built rentals helped stabilize figures, overall homebuilding was flat with notable declines in major cities like Toronto and Vancouver. This poses risks to housing supply, workforce retention, and affordability, prompting calls for systemic changes in the housing sector.

CI Global Asset Management has agreed to acquire Forge First Asset Management, an alternative-asset manager with about $1 billion in assets. Forge First, which uses a long-short investment approach focusing on North American securities, including commercial real estate, will continue under its current name. The acquisition is anticipated to accelerate Forge First's growth thanks to CI Global's extensive distribution and marketing capabilities. The transaction is expected to close in the fourth quarter of 2025, pending regulatory approval.

Clarke has secured a $250-million credit facility to refinance and advance construction at its Talisman multi-family development project in Ottawa. The financing includes a $115-million term loan and a $135-million construction facility for the second phase of the project. In addition, Clarke has refinanced a residential investment property in St. John's. These moves, along with previous asset sales, support the completion and stabilization of Clarke's development projects.

In August, Toronto home sales experienced a modest rise supported by a surge in new listings; however, average selling prices dropped due to an abundant supply. The Toronto Regional Real Estate Board reported a 2.3% increase in Greater Toronto Area home sales from the previous year, with listings climbing 9.4%. Despite lower prices, affordability challenges persist, and further interest rate cuts could drive more home purchases. Notably, while detached home sales increased, apartment-condo sales fell significantly.

Ontario's housing construction sector is in a standstill, threatening the province's goal of building 1.5 million homes by 2031, according to the Housing Minister. A significant drop in new housing starts has been recorded, particularly due to reduced activity in the Toronto area. Discussions are ongoing to modify the criteria of the Building Faster Fund to better assess municipal permit issuance. This comes amid calls for government intervention following a drastic decrease in new home sales in Ontario.

In July 2025, new-home sales in the Greater Toronto Area sank to the lowest level in 35 years, significantly below the numbers seen during the 1990s downturn. Only 150 condos were sold, marking a 51% decrease from the previous year and an 89% drop from the 10-year average. Government intervention is being urged by BILD to address the crisis and avoid prolonged economic impacts similar to those experienced in the 1990s. The current condo surplus remains a challenge, with a substantial number of units in various stages of development and unsold completed buildings.

The Canadian federal government's new Builds Canada Homes (BCH) program may function as a housing developer in various ways, according to a report by The Globe and Mail. Ottawa's roles could involve collaborating with contractors and investors to advance projects, ensuring low-interest loans are accessible. The article highlights the BCH as the largest initiative since World War II, focusing on affordable, factory-built, and pre-fabricated housing. The government seeks industry input to shape its plans for the program.

Hamilton is reducing development charges by 20% for two years starting this September to support the struggling residential construction sector. The measure was approved by the city council to increase housing supply and is expected to cost $9.6 million annually. It will apply to both residential and non-residential projects, and aims to prevent job losses and stalled projects in Hamilton. The city anticipates a significant drop in development charge revenues with a housing start decline over the past year.