The twin 16-storey office towers at 700 and 750 West Pender Street in downtown Vancouver are valued at around $150 million.
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Data shows that multi-family unit sales in Canada' capital grew by 75% between 2023 and 2024, to 2,079 sales — an increase overwhelmingly driven by new townhome sales.
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Allied Properties REIT sold 40 and 46 Elgin Street, its last two properties in Ottawa, in December to the Government of Canada.
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A number of development proposals received zoning approvals at Wednesday's Toronto City Council meeting, bringing them one step closer to fruition.
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Allied Properties REIT acquired stakes in Deloitte Summit and Toronto House from Westbank in March 2024, then acquired the remaining interest in December.
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It’s no secret that Canada’s construction industry had weathered a few rough years, thanks to everything from climbing material costs and labour shortages to sky-high interest rates and rising development fees. Tariffs will only make a challenging situation worse – both in Canada and south of the border.
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Wednesday’s decision — the first of the year — brings the policy rate down to a tidy 3%.
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The economic climate over the past month has been turbulent enough to spur a fresh wave of speculation.
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