Real Estate

Mall owner wants to construct a mixed-use tower with 280 rental apartments and ground-floor retail space on land currently occupied by a heritage building.
The average residential-class home sold for $716,992 last month, up from just over $600,000 a year earlier, the Ottawa Real Estate Board said Friday.
Firm predicts the city’s housing inventory will grow slightly in the year ahead but says “low levels are expected to remain a concern.”
Crestpoint Real Estate Investments and Crown Realty Partners purchased the 1.17-million-square-foot downtown property in a transaction that closed last week.
ClubLink says course is no longer financially viable and wants to partner with Minto Communities and Richcraft Homes to build 1,480 homes on the 71-hectare site.
The company released its first “environmental, social and governance” report Tuesday, outlining 18 specific initiatives it plans to focus on over the next five years.
The Canadian Real Estate Association says home sales across the country rose by about nine per cent between September and October, the largest month-over-month increase since July 2020.
The Ottawa-based real estate investment trust said its funds from operations – a key cash-flow metric – rose 12.3 per cent in the third quarter compared with a year earlier. 
Board president suggests owners of rental properties who might have put them on the resale market in the past are retaining homes and condos “for investment purposes.”
Proposal calls for 293 rental units at 1071 Ambleside Dr., just north of Richmond Road and about 400 metres west of the future New Orchard LRT station that’s now under construction.