Coverage commercial, industrial and residential real estate, breaking news on land development, major projects, and trends impacting real estate in the Ottawa area.
Ottawa-based firm is lending its sister company, Minto Properties, more than $50 million to invest in a joint venture that will see B.C. mall converted into mixed-use multi-residential property.
The city’s office vacancy rate edged up slightly to 9.8 per cent in the first quarter from 9.7 per cent at the close of 2021, brokerage said in its Q1 National Market Snapshot.
City’s largest commercial property manager is turning to a veteran of the green building movement to scale up its development pipeline in Ottawa and accelerate its growth in southern Ontario.
Real estate investment trust is shopping for more warehouse and other commercial space in the National Capital Region as it looks to shift its portfolio away from retail holdings.
The average price in the nation’s capital last month was $730,300, according to the Canadian Real Estate Association, up from $630,000 in February 2021.
Builders started work on 877 new dwellings in February, a 16 per cent increase over the 754 starts recorded in the same month in 2021, housing agency says.