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Building

CHIP REIT acquired for $1.2 billion

VANCOUVER - British Columbia Investment Management Corporation (bcIMC) from Victoria, B.C., has acquired Vancouver-based Canadian Hotel Income Properties REIT (CHIP REIT) for $1.2 billion, paying $19.10 per unit. The purchase represents a…

Piecrust Solution

Of all the challenges of acquiring contaminated sites, the risk of unlimited liability is the most difficult to manage. In Canada, innocent purchasers of contaminated sites may have almost as much liability as the polluter itself. Ontario,…

Surrey Central City sold for $245 million

SURREY, British Columbia - Blackwood Partners of Toronto has acquired the Central City development in Surrey, BC, from the Insurance Corporation of BC (ICBC) on behalf of a consortium of Canadian pension funds for $245.75 million.Designed…

Riding the Rails

Photography by Russ HeinlThe pending completion of Phase Four of the RailYards, a mixed-use community on the west shore of Victoria, B.C.'s Selkirk Waters represents another major building block in the ongoing transformation of the city's…

IPC REIT finds a buyer

TORONTO - Behringer Harvard REIT of Dallas, Texas, is proposing to buy Toronto-based IPC US REIT (IPC) for US$1.4-billion or US$9.75 per unit. IPC, who have been looking for a buyer since January, is the only Canadian REIT investing…

More than Bricks and Mortar

In his critically-acclaimed 2003 The Devil in the White City, a fictionalized account of the creation of the 1893 World's Columbian Exposition held in Chicago, Erik Larson weaves American social and political history into a story about some…

Ontario to clean-up contaminated harbour

HAMILTON - The Ontario government has committed $30 million to clean up the highly contaminated Randle Reef in Hamilton Harbour. The reef is an ongoing source of contamination to the entire harbour as a result of high concentrations of coal…

Building with Intensity

This month, two years after the project was initially conceived, construction will begin on the San Francisco by the Bay development, one of the first high-density projects in the 905 area and one directly complementing the City of…

No longer the tallest

TORONTO -- According to its developers, Dubai-based Emaar Properties, the Burj Dubai, currently under constructed in Dubai, is now officially the world's tallest building, surpassing the height of the CN Tower in Toronto, which for 31 years…

Housing’s New Frontier

Considering how important our houses are to us, and how emotionally connected we are to them, we sometimes easily forget what an enormous impact they have on the environment. For example, according to a 2006 report from Natural Resources…
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