with

ICYMI

Oh hey, you didn't miss much, just:

After creating their joint venture just over 10 years ago, RioCan is now taking a $209-million loss in that investment as a result of Hudson's Bay's insolvency.
The Liberals have secured another term in government, and now it's time to see if they'll make good on their promises. Carney has pledged $26 billion for prefab construction, but the jury's out on whether that'll be a meaningful investment in a housing crisis.
Did you think the GTA's condo market was depressing in 2024? Well, buckle up, because it's about to get worse, with a further 10% drop in prices forecasted by the end of this year.
Mark your calendars (and pull out your jerseys), because The Bentway and Fort York National Historic Site are the confirmed official venues for the FIFA Fan Festival Toronto.
Crombie REIT announced that it is partnering with Wesgroup Properties on four Safeway redevelopments in Metro Vancouver.
Toronto has axed an application to build two fourplexes in Etobicoke despite the fact that as-of-right zoning for multiplexes with up to four units was approved back in spring of 2023.
Whether you're a 'numbers guy' (ahem, girl) or not, it's clear to see that the math ain't mathing when it comes to new housing development in the GTA.

To keep up with all the news, council meetings, commercial listings, and people news in BC and Alberta, sign up for our West Newsletter.

What kind of street do Torontonians want Bathurst to be? RapidTO's proposal to create a dedicated streetcar lane and bus-priority lane north of Bloor begs the question.
Summer meals in Muskoka just got a McEwen-level upgrade, and there's nothing sub-par about that.
Affordable housing can feel like a footnote to the larger housing conversation, but for Abi Bond, it's front and centre. We touched base with Bond, who has just departed from her role as Executive Director of Toronto's Housing Secretariat.
The City of Toronto is looking to finalize a 'Toronto Builds' policy framework, which establishes policies in 12 key areas to guide the development of new housing on City land.
The City of Calgary is introducing a new Downtown Density Bonusing Offset Program to encourage more high-density residential development.
Montreal is looking to redevelop a former horse racing track into a neighbourhood for up to 40,000 people. They're calling it "a city within a city."

BY THE NUMBERS

For you left-brained folk.

33
—
The GTA's ranking, out of 44 markets, on the list of best places to buy real estate in 2025 based on affordability and value.

$10M+
—
The ultra-luxury real estate segment in the GTA that managed a surprising uptick in the first quarter.

28%
—
The increase in average Canadian rent from the COVID-19 low in April 2021.

30%
—
The share of Canadians who say the cost of mortgage payments is their main obstacle to owning a home, while 10% say they prefer the flexibility of renting.

$1,107,463
—
The average selling price of a GTA home in April, down 4% year over year.

66%
—
The share of Millennials who feel they have missed their "homebuying moment" – more than any other generation.

$96M
—
The assessed value of the 22-acre Cottonwood Centre mall in Chilliwack, which was recently sold by PCI Developments, Northland Properties, and Nicola Wealth.

$320M
—
The amount of financing that CFO Capital recently arranged for the Fairmont Royal York in Toronto on behalf of a fund controlled by KingSett Capital.

PRESENTING SPONSOR

Presented by BILD
Celebrating Trust, Tenure, And Tenacity In GTA Development

For over a century, the Building Industry and Land Development Association (BILD) has championed the GTA's evolution, supporting builders and developers through changing markets and advocating for policies to support new home buyers and the addition of new housing supply. Now, through the Trusted Builder Program, BILD is recognizing BILD members with an established track record of delivering homes for their steadfast commitment to meeting the development needs of the GTA.

The program is not only a way to honour seasoned industry leaders and members, but is also a way to highlight the vital contributions they have made to both the development of the region and the association itself. Through this new initiative, BILD continues its longstanding mission of supporting and advocating for the building and development industry, and its customers, the new home buying public.

To learn more about the Trusted Builder Program, click here.

QUOTE OF THE WEEK

"I think the business and industry tail is very long. I think what I'll call the traditional dealership will still stay for quite a long time, but where you will see pressure on large dealerships is in the urban areas. In the urban areas, we've seen quite a rapid transition from traditional dealerships to very much 'urban' dealerships. [...] And then in the suburbs and rural areas, I think the car dealership is there to stay for quite some time."

– Christian Chia, CEO of OpenRoad Auto Group, in an interview with STOREYS, on the growing trend of car dealership redevelopments and whether there is still space for traditional car dealerships.

THE BUILD UP

Revamps, Retrofits, Redevelopments, and Really Cool Plans.

Crombie, Northam Looking To Replace Scarborough Beer Store With 36-Storey Rental

Crombie entered into an agreement in 2018 that resulted in 50% interest in 3130 Danforth Avenue being sold to a subsidiary of Northam Realty Advisors.

Hazelview Eyes Scarborough Retail Plaza For 50-Storey Mixed-Use Tower

Hazelview's proposal calls for 590 residential units, and a 49% share of two- and three-bedrooms, at 2912-2926 Sheppard Avenue East.

PLUS:

TMU has broken ground on its Student Wellness Centre: "an innovative and sustainable addition will be made to historic O'Keefe House."
Hazelview has secured one of the largest CMHC-insured loans issued under the MLI Select program for the development of 856 new purpose-built rental homes at a "landmark corner" of Bloor West and Dufferin Avenue.
Choice Properties REIT, Woodbourne, and Main + Main have completed Element, their rental project at 400 Kirkwood Avenue in Ottawa.

TOGETHER WITH

Be inspired by changemakers, innovators, and trailblazers at Canada's largest real estate conference and trade show.

Take advantage of expert-led sessions in the PRO Speaker Series and 200 exhibitors on the trade show floor.

Discover the latest trends at Health Quest, Learning and Podcast Hubs, and enjoy 15% off essentials at the REALTOR® Store Pop-Up.

TRREB REALTOR® QUEST
Where Professionalism Meets Excellence

For more information and to register, visit realtorquest.ca.

BUY CURIOUS

From east to west, we've got the best.

Nearly 4 Acres Of Waterfront Luxury Await At This Lake Rosseau Escape*
With carefully landscaped exteriors and thoughtful details inside, every inch has been designed to elevate the Muskoka experience.

Opulence Meets Warmth At This Luxurious Lawrence Park Estate*
With its combination of classic charm, modern luxury, and a best-in-class location, this Lawrence Park home is a true standout.

PLUS:

A "megamansion" in Florida has been listed for just $84.888 million.
Lakeside living meets utter luxury at this architectural show stopper in West Kelowna.
You know that one friend who has a pool? Cough up $13 million and be that one friend, with this lavish Bridle Path estate.

*Sponsored content

DOORS OPEN

Some real world real estate for your weekend.

ON
—

🏡 Refined Victorian In South Rosedale (Toronto)
📍 96 South Dr.
📆 May 10, 2-4pm | May 11, 2-4pm

BC
—

🏡 Modern Duplex In Murrayville (Langley)
📍 3- 4750 228 St.
📆 May 10, 2-4pm

MOVING DAY

We scanned LinkedIn so you don't have to.

People

Kathleen Taylor has been appointed Chair of the Board of Directors for Mattamy Asset Management.
Julia Dyck has started a new role as Planning Analyst at Urbanation.
Cherise Burda, housing advocate and former TMU City Building Institute Executive Director, is joining the Ottawa Climate Action Fund as Executive Director, effective May 26.
Kathy Axmith has started a new position as Senior Real Estate Manager Ontario at McDonald's Canada.
Dean Perlman has joined KSV Advisory as a Senior Manager in its Toronto restructuring practice.
Matt Hilder has been promoted to Toronto's Housing Secretariat as Project Director, Housing Policy and Strategy.
Kate Rizzardo has joined JLL Toronto as an Associate.
Dustin Luchka has been promoted to VP of Marketing & Communications at EllisDon, while Nicholas Markov has been promoted to Director, EllisDon Developments.
Andrew Kirkham of KingSett Capital has been named Managing Director of Colliers' brokerage in Vancouver.

Places

CreateTO is looking for a Vice President, Planning and Design in Toronto.
Tricon Residential is looking for a Manager, Retail Construction.
Minto Group is looking for a Development Coordinator.
Infrastructure Ontario is looking to hire a SVP of Asset Transactions and Leasing.
CBRE is looking for a Leasing Manager, Transactions in Toronto.

LOOKING AHEAD

Get in the know, stay in the know. Y'know?

May 12, 13, 14 & 15: The City of Toronto is hosting a series of 'transit open houses' where residents can give their feedback on Map 4 of the Official Plan.
May 14-15: TRREB REALTOR® QUEST returns to the Toronto Congress Centre.*
May 15: CREA will release its statistics package for April.
May 15: CMHC will release housing starts data for April.
May 16: The deadline to apply for HCRA's Consumer Advisory Council.
May 17: National Real Estate Day.
May 29: RECO will hold its AGM for members (registration required).