Articles tagged with "Commercial"

The Canada Pension Plan Investment Board (CPPIB) is investing $225 million in a 54-megawatt hyperscale data-centre expansion in Cambridge, Ontario. The funding is provided through a joint loan with Deutsche Bank, and the facility has been preleased to a major AI cloud-compute provider. The project is part of CPPIB's broader strategy to expand its data-centre presence globally. The federal government has also committed to supporting Canadian AI innovation through significant investments.

A major redevelopment is proposed for 245 Eglinton Avenue East in Toronto, featuring two mixed-use towers designed by Superkül for Crestview Investment Corporation. These towers, rising 60 and 65 storeys, will offer residential units, retail space, and added amenities, adjacent to the new Eglinton Line 5. The development aims to capitalize on the location's proximity to major transit infrastructure, contributing to Midtown Toronto's high-density growth. The project includes a call for Official Plan and Zoning By-law amendments to realize this transit-oriented development.

Pacific Reach and Dilawri Group have acquired The Ritz-Carlton in downtown Toronto from Cadillac Fairview for approximately $274 million. The acquisition includes plans for upgrades to the hotel's spa, wellness amenities, and conference spaces. Pacific Reach will manage the asset while Marriott International continues to operate the hotel under The Ritz-Carlton brand. This deal signifies a strategic investment for both companies in Toronto's luxury hospitality sector.

Morguard Corporation and Dev-West Properties Inc. propose a nine-tower redevelopment of the Woodbridge Square in Vaughan, Ontario. The development aims to transform a commercial plaza into a mixed-use community with buildings ranging from 12 to 57 storeys, including 4,388 condominium units and retail spaces. The site will feature a central publicly accessible space and is strategically located with access to various transit routes. The project joins other high-density developments transforming the Highway 7 and Weston Road area.

The City of Belleville has commenced construction on a new $10.5 million facility for the Belleville Agricultural Society. This new building, located near Black Diamond Road and Highway 37, will include modern exhibition spaces, meeting rooms, and support facilities. The facility will be built on a 75-acre parcel of city-owned land, with additional areas being sold for commercial development. The project is planned for completion by September next year.

The construction of the Uxbridge Hospital by Oak Valley Health has begun, signaling significant progress in healthcare development in Uxbridge, Ontario. Supported by funding from the Ontario Government, the new hospital will expand its services with additional patient beds, diagnostic imaging, and a new long-term care home. The early works, managed by PCL Construction, include site preparation for this state-of-the-art facility. The project aims to integrate hospital services and enhance community healthcare access.

Cadillac Fairview is opposing the sale of Hudson's Bay leases to Ruby Liu's Central Walk. Liu has secured some of the leases with landlords' consent but struggles with others, including those from Cadillac Fairview. The real estate giant fears the deal could result in significant financial losses and lengthy leases with a questionable retail concept. Meanwhile, Central Walk is preparing for staff recruitment despite not having all lease approvals.

A proposal for a mixed-use development in East York's O'Connor-Parkview neighborhood includes four towers with heights ranging from 14 to 29 storeys, comprising 915 rental apartments, retail space, and a daycare. The development plan also features a new public park and street, requiring changes to zoning laws to accommodate increased height and density. Efforts to resolve noise concerns due to nearby industrial land include implementing mitigation strategies. The proposed design, created by Arcadis, incorporates green roofs, significant amenity spaces, and extensive parking facilities.

Northam Realty is advancing with plans for an 80-storey condo tower located at the intersection of Carlton and Yonge streets in downtown Toronto. The development, which has been in the works since 2016 and was revised to meet city and community preferences, will include residential, retail, and office spaces. The updated plans were approved in 2021, and now Northam is seeking final Site Plan Approval for this mixed-use project. The new design also features significant improvements like a parkland dedication and enhanced transportation facilities due to its proximity to the subway.

Leyad has acquired the Pen Centre mall in St. Catharines, Ontario, for $140 million, making it one of the largest retail real estate transactions in the Niagara Region recently. The mall spans 1.1 million square feet and is anchored by major retailers such as Walmart and Lululemon. Leyad plans to explore mixed-use redevelopment opportunities to enhance the site’s commercial role in the region. The acquisition is part of Leyad’s strategy to pursue value-add investments in high-growth Canadian markets.

Zinc Developments and ProWinko have submitted a revised proposal for a 35-storey mixed-use tower on Yonge Street in Toronto's Rosedale neighborhood, replacing a previously approved 15-storey project. The new design features 235 residential units, expanded amenities, and increased commercial office space. The project aims to meet evolving planning and intensification targets linked to its proximity to two major subway stations. The development, set to be the tallest in the area, is highlighted with an innovative automated parking system and ample bicycle storage.

Engineering firms in Toronto are adapting to the city's new era of building complexity marked by affordability issues, decarbonization goals, and intricate development needs. BPA, an engineering firm, has expanded its services to offer comprehensive mechanical, electrical, structural, and sustainability solutions, reflecting a shift from discipline-focused operations to integrated approaches. Their work on projects like Etobicoke Civic Centre and CIBC Square highlights their focus on sustainable design practices, aiming for certifications like LEED and WELL. BPA continues to tackle complex building requirements in Toronto, embracing strategies for low-carbon design.