Real estate news – Talktalk China http://talktalkchina.com/ Mon, 16 May 2022 16:13:44 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://talktalkchina.com/wp-content/uploads/2021/10/icon-2-120x120.png Real estate news – Talktalk China http://talktalkchina.com/ 32 32 McMaster Innovation Park wants more residential development. | RENX https://talktalkchina.com/mcmaster-innovation-park-wants-more-residential-development-renx/ Mon, 16 May 2022 16:13:44 +0000 https://talktalkchina.com/mcmaster-innovation-park-wants-more-residential-development-renx/ McMaster Industrial Park has applied to increase the number of multi-residential developments permitted on the Hamilton property. (Courtesy McMaster Innovation Park) A multi-residential housing component has always been planned for McMaster Innovation Park (MIP) in Hamilton, but now its developer wants more. Current zoning permits residential uses on employment lands to amount to 8% of […]]]>

McMaster Industrial Park has applied to increase the number of multi-residential developments permitted on the Hamilton property. (Courtesy McMaster Innovation Park)

A multi-residential housing component has always been planned for McMaster Innovation Park (MIP) in Hamilton, but now its developer wants more.

Current zoning permits residential uses on employment lands to amount to 8% of the overall gross floor area in up to two buildings. MIP, however, has asked City Council and Hamilton staff for permission to increase this figure to 15% and have 524 residential units in 26, 22 and 14 storey buildings.

“As the innovation park has evolved and density has increased for life sciences, the appropriate 15% GFA ratio has been requested as a review based on a residential study,” said Frances Grabowski. , vice president of development and design of the MIP. an email interview with RENX.

According to an article by The Hamilton Spectator.

McMaster Innovation Park prefers purpose-built rental

A 2021 residential study by B. Lyons identified the need for rental housing, not condominiums, in MIP, according to Grabowski. Young families and professionals are the target demographic, but no size or combination of units has been decided.

Grabowski said the intention was to partner with other developers to build the apartments, but that was also not finalized.

Other elements relating to the functional and cultural requirements of the MIP are also planned.

“This includes amenities, green spaces, connectivity, walking and biking trails, and related services to meet the needs of our park-wide community,” Grabowski said.

The MIP also works with the YWCA.

Expected timelines for approvals, construction and occupancy are still under review.

Innovation is in MIP’s name for a reason

MIP is pursuing an expansion of 2.8 million square feet in addition to its current 700,000 square feet to intensify life science innovation, commercialization and manufacturing.

This includes 1.3 million square feet of dedicated life science and lab space, including the 44 Frid St. location that is actively leased to lab users.

The 58-acre MIP site west of Hamilton overlooking Highway 403 is home to more than 100 companies in life sciences, engineering, advanced manufacturing and high technology.

“MIP’s proven ability to support and grow small and medium enterprises translates into faster, more economically efficient and lower risk investments for government and private investors,” said Grabowski.

The MIP is currently composed of:

– the 186,000 square foot The Atrium @MIP, which is occupied by more than 70 companies, at 175 Longwood Rd. S.;

– McMaster Automotive Resource Centre, which researches and tests cars, at 200 Longwood Rd. S.;

– CanmetMATERIALS, a research center specializing in the manufacture of metals and materials, at 183 Longwood Rd. S.;

Hamilton Spectators old building, which has been upgraded to a life science-focused building with wet labs, at 44 Frid Street;

– The Glass Warehouse @MIP, a mixed-use facility including offices and labs, retail, beverage innovation center and art gallery at 606 Aberdeen Ave. ;

– BEAM Centre, headquarters of Fusion Pharmaceuticals, at 270 Longwood Rd. S.; and

– Gowling WLG @MIP, which will serve as the Hamilton office of the law firm Gowling WLG, at 191 Longwood Rd. S

It was announced on March 31 that Invest Ontario is providing OmniaBio Inc. with a loan of approximately $40 million for a new 250,000 square foot, $580 million biomanufacturing facility on Longwood Road, which will be part of the MIP.

One building should be completed in 2024 and the second a year later. The company should employ at least 250 people.

The Ontario government would like to see life sciences employment in the province grow by about 25% to 85,000 by 2030.

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Julia Gordon confirmed as FHA Commissioner https://talktalkchina.com/julia-gordon-confirmed-as-fha-commissioner/ Thu, 12 May 2022 19:30:33 +0000 https://talktalkchina.com/julia-gordon-confirmed-as-fha-commissioner/ Photo by Sam Bowman via Flickr The United States Senate has confirmed Julia Gordon as Commissioner of the Federal Housing Administration and Assistant Secretary for Housing at the US Department of Housing and Urban Development. Vice President Kamala Harris cast the deciding vote to break a 50-50 tie. The position of FHA commissioner has been […]]]>

Photo by Sam Bowman via Flickr

The United States Senate has confirmed Julia Gordon as Commissioner of the Federal Housing Administration and Assistant Secretary for Housing at the US Department of Housing and Urban Development. Vice President Kamala Harris cast the deciding vote to break a 50-50 tie.

The position of FHA commissioner has been vacant since Dana Wade resigned in March 2021. President Joseph Biden appointed Gordon to head the FHA in June 2021.


READ ALSO: Critical issues for affordable housing in 2022


Congress created FHA in 1934, and the organization became part of HUD’s Office of Housing in 1965. FHA provides mortgage insurance on loans made by approved lenders on single-family homes, multi-family properties, residential residential care and hospitals.

Extensive experience

Gordon has over 20 years of experience in housing and finance issues and policy. She recently served as President of National Community Stabilization Trusta nonprofit that works with local partners and national stakeholders to return distressed properties to productive reuse.

Gordon was part of the Biden-Harris transition team, as a member of the group that reviewed the HUD and the Federal Housing Finance Agency for the incoming administration. Previously, she was Senior Director of Housing and Consumer Credit for the Center for American Progress, an independent, non-partisan educational institute. She has also served as Single Family Policy Manager for FHFA’s Office of Housing Policy and Regulation and Senior Policy Advisor for the responsible credit center.

the National Housing Conference noted that Gordon’s leadership of the National Community Stabilization Trust provided him with a nuanced understanding of local housing markets and how they work.

“Julia Gordon brings deep experience to address the significant challenges facing FHA. If we are to be successful in closing the racial divide in homeownership, the FHA must be at the forefront,” said NHC President and CEO David Dworkin in a statement.

the Mortgage Bankers Association looked forward to working with Gordon to ensure the FHA could provide more affordable housing opportunities to homeowners and renters nationwide.

“Her knowledge and experience in housing policy and community development will stand her in good stead as she leads FHA’s mission to support homeownership opportunities for low- and middle-income borrowers and minority communities in underserved communities, as well as increasing the supply of affordable rental housing,” Bob Broeksmit, MBA president and CEO, said in a statement.

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Joel Barber Realtor discusses Myrtle Beach real estate news https://talktalkchina.com/joel-barber-realtor-discusses-myrtle-beach-real-estate-news/ Thu, 12 May 2022 13:59:55 +0000 https://talktalkchina.com/joel-barber-realtor-discusses-myrtle-beach-real-estate-news/ Joel Barber has been a practicing Realtor in Myrtle Beach, SC since 2007. In the following article, Joel Barber provides insight into how the Myrtle Beach housing and vacation property market has never been hotter. . It was a Myrtle Beach institution for over 60 years. Soon it will be full of new houses and […]]]>
Joel Barber real estate agent

Joel Barber has been a practicing Realtor in Myrtle Beach, SC since 2007. In the following article, Joel Barber provides insight into how the Myrtle Beach housing and vacation property market has never been hotter. .

It was a Myrtle Beach institution for over 60 years. Soon it will be full of new houses and shops.

SC’s Joel Barber reports that the sale of Myrtle Beach Speedway is the end of an era for many in the city’s Carolina Forest area. The racecourse, which opened in 1958 and held races until August, is set to be redeveloped into a mix of retail storefronts and residential units.

The preliminary plan foresees the development of 45 acres on the site, 43 for housing and 2 for commerce. Speedway owner Bob Lutz completed the sale of the property in April for $7.85 million to a South Carolina LLC, Speedway Villas Holdings, which formed in March.

Realtor Joel Barber said the new owner’s original plan called for 400 multi-family homes in addition to commercial elements.

The speedway was a Myrtle Beach landmark, a family venue that hosted early NASCAR Cup Series races and NASCAR’s former Busch Series. Early in his career, Dale Earnhardt was a notable name who made the racetrack his home. Jr.

SC’s Joel Barber says those who live near the venue say they’ve never been bothered by noise, and the thought of a brand new development doesn’t make some happy. It attracted visitors and residents from all walks of life, one said. It was, as another said, a simple pleasure.

Joel Barber says no surprise: Myrtle Beach real estate market is skyrocketing

SC’s Joel Barber reports that, mirroring much of the country, Myrtle Beach’s housing market is booming.

Single-family home prices rose 17.6% at the end of 2021 from a year earlier, according to the Coastal Carolinas Association of Realtors. Inventory levels at record highs (the number of available single-family homes fell 39.6%) brought the average home price in the Myrtle Beach area to $297,500.

The number of completed sales increased by 14.6%, with 12,633 single-family home sales completed.

What powers Myrtle Beach’s hot market? CCAR says there is demand from many retired baby boomers who appear to be moving to Myrtle Beach sooner than expected due to the COVID-19 pandemic. Low interest rates and rising property values ​​are also motivating buyers and sellers.

Realtors like Joel Barber in the area say the Myrtle Beach area is increasingly seen as more desirable than Florida because it’s not as hot, not as developed, and not as remote.

Also watch this video for more information on what real estate agents like Joel Barber are doing for the homeless in Myrtle Beach.

Opening of a new beachfront complex in 2024

Holiday Inn Club Vacations, Inc. is developing 16 acres on Myrtle Beach’s south goal for a new beachfront resort slated to open in 2024.

Joel Barber of Myrtle Beach explains that the property is directly across from Holiday Inn’s South Beach Resort. The proposal calls for a 300-unit, six-story structure on the land to be completed in phases. The first phase will include more than 150 one- to four-bedroom villas with ocean views and direct beach access.

Other amenities will include hot tubs, fitness center, swimming pool, and fire pit. There will also be outdoor and indoor dining and activity center options.

Holiday Inn Club Vacations is one of the leading real estate and resort companies in the United States, with 28 resorts, nearly 8,000 villas and more than 365,000 timeshare owners in 14 states.

Myrtle Beach Named to Top 10 List for Vacation Homes

Joel Barber says Myrtle Beach’s tourism industry is booming, but it’s now seen as a particularly desirable — and affordable — place to buy a vacation home. According to Realtor.com, it is among the top 10 places in the United States to buy a second home right now.

It’s the only town in South Carolina to make the list according to Joel Barber of Myrtle Beach, though others in the top 10 are known as solid retirement areas, including The Villages, Florida; Lake Havasu, Arizona; and Branson Missouri.

The list also includes East Stroudsburg, Pennsylvania (near the Poconos); Whitewater, Wisconsin (home to a popular lake); Salisbury, Maryland (near the east coast); and Cullowhee, North Carolina (near Blue Ridge Parkway and the Great Smoky Mountains).

Rounding out the top 10 are Claremont, New Hampshire, and Sevierville, Tennessee. While demand for vacation homes plummeted earlier this year, it was still 35% higher than before the COVID-19 pandemic.

SC’s Joel Barber notes cash buyers would dominate the second home market, and experts say rising interest rates won’t have a big impact on the vacation market. Zachary Staruch, an agent in Southwest Florida, says sales in his area are about 65% cash transactions.

Many also see their vacation homes as a significant lucrative investment. Brokers note that average cash returns from second homes are around 10% per year as short-term rentals.

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EDEN Multifamily, Sterling Equities Form JV https://talktalkchina.com/eden-multifamily-sterling-equities-form-jv/ Tue, 10 May 2022 12:54:22 +0000 https://talktalkchina.com/eden-multifamily-sterling-equities-form-jv/ Rendering of EDEN Crystal Lake. Image courtesy of EDEN Multifamilial A new joint venture with Sterling shares will help EDEN Multifamily expand its multi-family development and investment platform throughout the Southeast and plans for future growth across the United States. The amount of funding for the joint venture was not disclosed, but EDEN’s existing pipeline […]]]>

Rendering of EDEN Crystal Lake. Image courtesy of EDEN Multifamilial

A new joint venture with Sterling shares will help EDEN Multifamily expand its multi-family development and investment platform throughout the Southeast and plans for future growth across the United States.

The amount of funding for the joint venture was not disclosed, but EDEN’s existing pipeline for construction start-ups in 2022 totals over $750 million and is expected to exceed $1.2 billion by mid- 2023. According to Jay Jacobson, President, COO and Co-Founder of EDEN Multifamily with CEO Jay Massirman, these numbers represent planned groundbreaking work for walk-in communities, surface parking lots as well as properties of medium and high height.

In February 2021, Jacobson and Massirman with America’s Capital Partners Director Sergio Socolsky launched EDEN Living, a horizontal apartment development company to build single-family homes for rent. Jacobson said Multi-Accommodation News the Sterling Equities joint venture will focus on “traditional multi-family properties” and will not do single-family home-to-let developments.

Sterling Equities is the vertically integrated real estate investment, management and development company of the Katz and Wilpon families. The company makes investments and forms businesses in major urban markets which include residential, commercial and industrial properties. The company also makes strategic investments in sports and media-related businesses, including the New York Mets, SportsNet New York, Esports, and various real estate-focused equity and venture capital funds.

Sterling Equities has developed or invested in over 65,000 residential units over the past 50 years. Recent investments in South Florida include the purchase of Solmar on Sixth in Fort Lauderdale, Florida; 1333 South Ocean in Pompano Beach, Florida; and Midtown Five in Miami.

Todd Katz, a partner at Sterling Equities, said in a prepared statement that the firm’s multifamily investment thesis aligns perfectly with that of EDEN. He noted that the partnership stems from a long-standing relationship with Jacobson and Massirman and their respect for Team EDEN’s track record.

Growth plans

Massirman called the new partnership a key endorsement of what he and Jacobson have worked for since founding EDEN Multifamily in 2015. He added in prepared remarks that the joint venture positions EDEN to meet the need for multifamily housing in high growth markets on an even larger scale.

Jacobson said the partnership will allow EDEN to utilize Sterling’s extraordinary financial strength, experience and investment knowledge. Since 1972, Sterling Equities has directly, and through investment funds, acquired, developed or co-developed approximately 35.2 million square feet of real estate.

EDEN Multifamily’s immediate growth plans include opening a regional office in Charlotte, NC

“EDEN hopes to open the new Charlotte offices within the next 60 days and continue with additional market expansions as needed,” Jacobson said. MNH.

Regarding current and future development plans, he said EDEN Multifamily is “working on opportunities statewide in Florida, the Carolinas, Georgia, and Tennessee.”

Recent developments in Florida

To date, EDEN Multifamily developments are located in Central and South Florida. In March 2021, EDEN secured a $44.1 million first construction mortgage to build EDEN Crystal Lake, a 288-unit Class A garden-style property in Port Orange, Florida. The 19.5 acre community, located south of Daytona Beach, Florida. , has one, two and three bedroom apartments.

Also in the spring of 2021, CE Development Partners, a joint venture between EDEN Multifamily and Cypress Equity Investments, began construction of EDEN West, a 212-unit garden-style community on 6.2 acres in Tamarac, Florida. EDEN West has a mix of studio, one, two and three bedroom apartments in two four story buildings.

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Hamilton Zanze acquires luxury apartments in Baltimore https://talktalkchina.com/hamilton-zanze-acquires-luxury-apartments-in-baltimore/ Fri, 06 May 2022 13:15:37 +0000 https://talktalkchina.com/hamilton-zanze-acquires-luxury-apartments-in-baltimore/ Jefferson Square in Washington Hill. Image courtesy of Hamilton Zanze Real estate firm Hamilton Zanza acquired the 304-unit Jefferson Square at Washington Hill in Baltimore, Md. The seller was Lowe Enterprises. The property, with an address at 101 N. Wolfe St., is renamed The Tala at Washington Hill. Mission Rock Residential was operated by the […]]]>

Jefferson Square in Washington Hill. Image courtesy of Hamilton Zanze

Real estate firm Hamilton Zanza acquired the 304-unit Jefferson Square at Washington Hill in Baltimore, Md. The seller was Lowe Enterprises. The property, with an address at 101 N. Wolfe St., is renamed The Tala at Washington Hill. Mission Rock Residential was operated by the new owner to manage the community.

Located in the Butchers Hill neighborhood, The Tala at Washington Hill is less than 2 miles from downtown Baltimore and a seven-minute walk from Johns Hopkins Hospital, a major employment hub employing more than 30,000 people.

“The Tala at Washington Hill is a major asset that our team is really excited about,” said Sam Applegate of Hamilton Zanze’s transactions team. Multi-Accommodation News.

“Although we already own in the state of Maryland, this is our first acquisition within the city limits of Baltimore and we look forward to providing a quality rental experience for our residents who call this property home. Our team worked hard with multiple parties to bring this deal to fruition.”

Featuring a five-story, mixed-use building serviced by an elevator, mixed-style building, the Tala at Washington Hill was completed in 2014. The property includes retail on the first floor, is built on a plot of 3 acres and benefits from an occupation.

The community offers studios to two-bedroom apartments in 35 different floor plans averaging 850 square feet. Units include custom cabinetry, granite countertops, built-in washers and dryers, wood-style floors, and in some homes, balconies or patios.

Planned upgrades

A two-story lobby with a grand staircase is among the prominent common amenities. Hamilton Zanze is planning a number of capital improvements including improvements to equipment, buildings and site, an interior renovation program and environmental improvements. The Tala at Washington Hill is located in the centuries-old enclave of Butchers Hill, among vintage brick townhouses and historic churches.

The sprawling Patterson Park borders the east side of the neighborhood, less than eight-tenths of a mile from The Tala, and there are four other parks within 2.3 miles. Nearby recreational sites include the Port Discovery Children’s Museum, the National Aquarium and the Maryland Science Center. Fells Point Market offers shopping within a mile. In addition to Johns Hopkins Medicine, the Peabody Institute and the University of Baltimore are five and six minutes away by car, respectively.

Last month, Hamilton Zanze sold a garden-style property in San Antonio.

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Chicago luxury tower trades for $83 million https://talktalkchina.com/chicago-luxury-tower-trades-for-83-million/ Thu, 05 May 2022 12:58:58 +0000 https://talktalkchina.com/chicago-luxury-tower-trades-for-83-million/ 8 E. Nineth Ave. Image courtesy of Interra Realty 3L Real Estatea real estate and development company, has acquired Astoria Tower, a 30-story, 248-unit luxury multi-family tower located in Chicago’s South Loop from Crescent Heights for $82.5 million. The unit price was $332,661. Interra Real Estate, a commercial real estate investment services firm, brokered the […]]]>

8 E. Nineth Ave. Image courtesy of Interra Realty

3L Real Estatea real estate and development company, has acquired Astoria Tower, a 30-story, 248-unit luxury multi-family tower located in Chicago’s South Loop from Crescent Heights for $82.5 million. The unit price was $332,661.

Interra Real Estate, a commercial real estate investment services firm, brokered the deal. Senior Managing Partner Brad Feldman represented the buyer.

Located at 8 E. Nineth Ave., Astoria Tower was built in 2009 and was originally a condominium development. Crescent Heights, a Miami-based real estate company, converted 205 condos into rental apartments in 2010 and the rest of the units in 2019.

Feldman said in a prepared statement that the sale was an off-market deal made at one of the highest prices in the submarket so far this year. He noted that the large, condo-quality units, value-added potential, and South Loop’s prime location near other 3L properties made it a good choice for the buyer. 3L, which has properties in Chicago, Milwaukee and Dallas, specializes in the adaptive reuse of commercial buildings into multi-family housing. One of the many Chicago assets redeveloped by 3L is 820 S. Michigan Ave., the former Johnson Publishing Building that had been the offices of Ebony and Jet magazines. The 118,000 square foot building now has 150 apartments with views of Lake Michigan and Grant Park.

Property Details

The Astoria Tower has one-, two-, and three-bedroom floor plans. Apartments have hardwood floors, stainless steel appliances, granite countertops, contemporary cabinetry, built-in washers and dryers, floor-to-ceiling windows, and spacious closets. Some units also have balconies. Community facilities include a 24-hour fitness center, indoor pool and hot tub, sauna and steam rooms, spa treatment room, billiards room, movie theater, fitness center, business and two roof terraces with views of the city and Lake Michigan.

Located two blocks west of Grant Park, Astoria Tower is serviced by several bus lines and the Chicago Transit Authority Red Line. The property is within walking distance of shops, restaurants, and attractions such as the Harold Washington Library, Art Institute, Millennium Park, and Buckingham Fountain.

Crescent Heights Developments

A leading urban real estate company, Crescent Heights also has significant holdings in Chicago, including NEMA Chicago. The 76-story luxury tower with 800 apartments is 896 feet tall, making it the tallest residential rental building in the city. McHugh Construction opened NEMA Chicago in 2016. While some residents began moving in in May 2019, the building at 1210 S. Indiana Ave. in the Near South Side was not fully completed by McHugh until in 2020.

NEMA Boston, a 414-unit luxury development in Boston’s Seaport District, was one of the largest multi-family developments underway in the city in 2021. In addition to residential units, the 22-story building also features a retail space. Crescent Heights sold NEMA Boston at 399 Congress St. to private equity giant KKR in July 2021 for $332 million, one of the largest multi-family deals in Boston that year, according to Bisnow.

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StreetLights Residential and Hunt partner for Houston project https://talktalkchina.com/streetlights-residential-and-hunt-partner-for-houston-project/ Wed, 04 May 2022 15:53:20 +0000 https://talktalkchina.com/streetlights-residential-and-hunt-partner-for-houston-project/ Langley. Image courtesy of StreetLights Residential Multi-family and mixed promoter Residential Streetlightsin partnership with Hunt Cos., announced plans to develop its new multi-family community, The Langley, in Houston, Texas. Built at 1717 Bissonnet Street, the Langley will fuse the valet and concierge services of a five-star hotel and the craftsmanship of a private home, offering […]]]>

Langley. Image courtesy of StreetLights Residential

Multi-family and mixed promoter Residential Streetlightsin partnership with Hunt Cos., announced plans to develop its new multi-family community, The Langley, in Houston, Texas. Built at 1717 Bissonnet Street, the Langley will fuse the valet and concierge services of a five-star hotel and the craftsmanship of a private home, offering formal classical architecture resulting in a timeless building design.

The Langley will feature 134 apartments, each featuring expansive two- and three-bedroom layouts averaging nearly 3,000 square feet. StreetLights Residential chose to include larger residences based on the intended target market for the property. The community is designed to attract long-term relocating residents by “smart sizing” large single-family homes to reduce expenses.

Integrated services

“Hunt Cos. has carefully watched the growth of Houston’s high-rise market and the desire for more luxurious urban properties by affluent individuals seeking the convenience of a small but spacious home with the integrated services that The Langley will provide. “, Stephen Meek, Senior Vice President of Development for StreetLights Residential, said Multi-Accommodation News. “This audience wants to be in a residential, not commercial, neighborhood near a world-class medical center, Houston’s arts and museum district, great restaurants, and the amenities they expect.”

At the same time, these residents are driven by a desire to stay in or near the Houston communities where they raised their families. According to a statement prepared by StreetLights Residential, The Langley will be located in an area between Rice University and Houston’s Museum District, and inspired by the centuries-old grace of adjacent Boulevard Oaks and Southampton neighborhoods.

Hunt and StreetLights Residential have previously teamed up on luxury multi-family projects and discussed the Bissonnet site for some time. Given the success of the McKenzie rental community in Dallas, Hunt invited StreetLights to partner with a similar, but even more upscale project in Houston.

“Hunt and StreetLights believe this is the right place for the right development at the right time,” Meek said.

The Langley will be located south of I-69, known in Houston as the Southwest Freeway, in an area of ​​many restaurants and retail establishments and numerous health care facilities, including the Texas Medical Center. Nearby are Fleming Park, Houston Museum of Fine Arts, Houston Museum of Natural Science, Miller Outdoor Theater, Holocaust Museum of Houston, Children’s Museum of Houston, Zoo of Houston and Hermann Park Golf Course. Also to the south of the property are Rice University and Baylor College of Medicine.

Previous events

The Langley will impose far less impact on traffic than an earlier permitted building in 2013 proposed for the site, which sparked protests and lawsuits from 2007 to 2016. The new development will feature half the unit density from its predecessor, the units reduced from 232 to 134 The garage was also reduced from five to three floors.

“We are increasing our efforts to communicate with neighborhoods with HOA and POA meetings as well as with fence neighbors,” Meek said. “While the construction of this ladder will still be disruptive for some time, we will communicate with our neighbors and share our plans to make the process as tolerable as possible, including working hours, traffic control, parking of off-site employees and security.”

The Langley is expected to be completed in 2025. Several months ago, StreetLights Residential broke ground on a project in Tempe, Arizona.

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Dream, Great Gulf Quayside Update on Toronto’s Waterfront | RENX https://talktalkchina.com/dream-great-gulf-quayside-update-on-torontos-waterfront-renx/ Mon, 02 May 2022 16:26:04 +0000 https://talktalkchina.com/dream-great-gulf-quayside-update-on-torontos-waterfront-renx/ A rendering of the Dream/Great Gulf proposal for the Toronto Quayside property. Building designs and heights are preliminary and have not yet received approval. (Courtesy of Toronto Waterfront) Dream Unlimited Corp. and Great Gulf Group will together develop two of Toronto’s most prominent waterfront properties over the next decade. As partners on both the 12-acre […]]]>

A rendering of the Dream/Great Gulf proposal for the Toronto Quayside property. Building designs and heights are preliminary and have not yet received approval. (Courtesy of Toronto Waterfront)

Dream Unlimited Corp. and Great Gulf Group will together develop two of Toronto’s most prominent waterfront properties over the next decade.

As partners on both the 12-acre Quayside property and the nearby Victory Silos site along Lake Shore Boulevard East in the city’s downtown east side, they will play an important role in the line’s revamp. of Lake Ontario skyline.

The Urban Land Institute Toronto hosted a webinar on April 22 involving Dream, Great Gulf and several project partners to provide an overview of the plans for Quayside, at the foot of Parliament Street on Lake Shore Boulevard East.

“I think you will see in the Quayside project that you can see high levels of development, in terms of architectural design and public space, while having great environmental sustainability,” said the President and CEO of Waterfront Toronto, George Zegarac.

Dream and Great Gulf were selected by Waterfront Toronto in February to develop Quayside. Waterfront Toronto was established in 2001 by the governments of Canada, Ontario and Toronto to lead a revitalization of the waterfront by integrating sustainable development, design excellence and state-of-the-art technological infrastructure.

He was tasked with creating a new vision for the site after Google subsidiary Sidewalk Labs scrapped plans for a major tech-based sustainability in May 2020.

Components and dockside vision

Among the proposals Dream and Great Gulf have submitted for Quayside are:

– five towers and one of the largest mass timber residential buildings in Canada;

– 861 affordable housing units of various sizes, from studios to T5, which will be delivered at each development phase with market housing;

– a community care hub offering a range of programs and services to support aging in place, recreation and wellness for all residents;

– and a multipurpose venue with space for the performing arts, Indigenous-centered cultural celebrations and flexible educational spaces.

Dream and Great Gulf have partnered to acquire the Victory Silos site at 351 Lake Shore Blvd. E. in 2017, so they knew Quayside well. The Victory Silos Condos project is in the pre-construction phase as part of a five-acre planned community that will include approximately one million square feet of density.

“We’ve always felt that whatever we do, we should leave behind what we find better than before,” said Michael Cooper, President and CEO of Dream.

“It’s really only part of the journey to create net zero communities with huge affordable housing, combined with all kinds of market housing, condos, apartments, retail, public activities, inclusion and programming, where people’s lives are improved by the work we all work together.

Many objectives for the development of Quayside

Waterfront Toronto’s Vice President of Strategic Policy and Innovation, Kristina Verner, said Quayside’s vision is to create a “vibrant, inclusive and resilient” community by providing housing, green spaces, recreation , culture and entertainment to people of all ages and demographics, inspiring entrepreneurial ventures and innovations, and all in a sustainable way with an emphasis on the environment.

“This is done in part through beautiful architecture and elements of design excellence in the public realm as well as creating connections to the rest of the city and providing safer, greener options for active transportation for get to the site and move through the site,” Verner said.

Quayside is also expected to generate economic benefits through sustainable job creation, private investment and the expansion of the creative corridor along the waterfront, Verner added.

Waterfront Toronto had launched an international request for qualification in March 2021, resulting in a short list of four developers invited to participate in the request for proposals stage. The Dream-Great Gulf partnership, officially known as the Quayside Impact Limited Partnership, was chosen from this group.

Adjaye Associates, Alison Brooks Architects and Henning Larsen are the lead architects, while KPMB and architects-Alliance are also involved.

SLA is the landscape architect. Two Row Architect is the Indigenous Design Advisor. Benoy and Wordsearch Place are the retail specialists. Transsolar is the climate engineering firm.

Environmental and sustainability considerations

IMAGE: A proposal by Dream Unlimited and Great Gulf to develop the Quayside town center property.  (Courtesy of Toronto Waterfront)

A proposal by Dream Unlimited and Great Gulf to develop the Quayside town center property. (Courtesy of Toronto Waterfront)

“We are aligning our goals and aspirations with Waterfront Toronto to provide an affordable, accessible, sustainable community focused on the natural environment,” said Katy Schofield, President of Great Gulf Homes Canadian Low Rise Residence.

Transsolar associate director Krista Palen said Toronto has been “really a pioneer in pushing the boundaries of sustainability standards” and setting energy targets. Quayside fits that, as it is set to become the first all-electric, carbon-free development of this scale in Canada.

“This site is going to create enough market transformation that people are starting to feel comfortable implementing some of the kinds of technologies that we will be using and reducing their energy and carbon to the levels that we need to get in order to achieve our climate reduction goals for the city,” Palen said.

Verner believes that Quayside can become “a neighborhood that sets the bar in terms of what new neighborhoods in Toronto and across Canada should aspire to in terms of sustainable approaches.”

Stormwater management will be an important part of the project and the proposed log building is to include a rooftop urban farm to produce food.

Quayside will act as a gateway to the waterfront and create synergies with existing surrounding assets. Part of that involves weaving nature throughout the site, including a two-acre community forest.

“We don’t have classes,” said Rasmus Astrup, design director and SLA partner. “We have flow. We have a stream of birds, a stream of water, and a stream of people.

Indigenous participation in Quayside

Verner also stressed the importance of having Indigenous participation at Quayside.

“As human beings, we need to remember that we depend on the world around us and the world doesn’t depend on us,” said Two Row partner Matthew Hickey.

“As human beings, we often think that we are the best and that we are at the top of the pyramid. But if we take a look at our place in Earth’s history, we’ll see that we’re just a tiny dot on the timeline.

“This way of thinking was key to our teams’ process for Quayside. This way of thinking is the key to future developments. And this way of thinking will be key to the future of the human race.

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Texas Real Estate News: Compass acquires, United merges https://talktalkchina.com/texas-real-estate-news-compass-acquires-united-merges/ Fri, 29 Apr 2022 19:00:00 +0000 https://talktalkchina.com/texas-real-estate-news-compass-acquires-united-merges/ Left to right: Dallas-based Platinum Realty’s Scott DeNeve and United Real Estate’s Dan Duffy; Austin-based Justin D’Amato of Compass (Platinum Realty, LinkedIn/Dan Duffy, LinkedIn/Justin D’Amato, iStock) Two major brokerages made big moves in Texas this week – one with a merger and the other with an acquisition. United Real Estate Group of Dallas has announced […]]]>

Left to right: Dallas-based Platinum Realty’s Scott DeNeve and United Real Estate’s Dan Duffy; Austin-based Justin D’Amato of Compass (Platinum Realty, LinkedIn/Dan Duffy, LinkedIn/Justin D’Amato, iStock)

Two major brokerages made big moves in Texas this week – one with a merger and the other with an acquisition.

United Real Estate Group of Dallas has announced its merger with Kansas-based Platinum Realty, Inman reported. United has 16,000 agents and claims to be the eighth largest broker in the country. Platinum, which operates 13 offices in five Midwestern states, will bring its 2,100 agents to the Texas-based company but will retain its brand and compensation structure.

The merger was part of a “strategy to attract regionally dominant independent brokerages in key markets”, according to a statement from United. RISMedia ranked the company seventh in its 2022 list of top brokerages by trade side. United has 110 US offices in 30 states.

The companies did not publicly disclose financial details of the deal.

Meanwhile, in Central Texas: Compass has acquired Austin-based real estate company Brandon Miller Group (BMG). The Texas-based company will be part of Compass’ development marketing group, the Austin Business Journal reported. The group is a new division of Compass and will oversee projects at all stages of development.

BMG, which has been operating out of Austin for 16 years, specializes in representing new developments for luxury residential properties. It has completed more than 50 residential developments in Texas and New York with sales totaling over $1 billion, according to its website. He recently partnered with Canadian firm Intracorp for the Congress Lofts at St. Elmo and One Oak condominiums.

Neither company disclosed details of the acquisition.

[Inman] [ABJ] —Cindy Widner

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Real Estate News: Home Sales Jump 13% QoQ: Report https://talktalkchina.com/real-estate-news-home-sales-jump-13-qoq-report/ Fri, 29 Apr 2022 06:36:00 +0000 https://talktalkchina.com/real-estate-news-home-sales-jump-13-qoq-report/ Home sales jumped nearly 13% quarter-on-quarter to more than 70,000 units in Q1 2022 and sales rebounded significantly by around 40% year-on-year as the residential sector is poised to experience unprecedented growth, according to a CBRE report. The report highlights the growth, trends and dynamics of various segments of the real estate industry in India. […]]]>
Home sales jumped nearly 13% quarter-on-quarter to more than 70,000 units in Q1 2022 and sales rebounded significantly by around 40% year-on-year as the residential sector is poised to experience unprecedented growth, according to a CBRE report.

The report highlights the growth, trends and dynamics of various segments of the real estate industry in India.

The share of the affordable/budget segment in sales remained stable at 27% in Q1 2022 compared to Q4 2021. While sales of the premium category jumped to 23% in Q1 2022 compared to 16% in Q4 2022, those of the midscale segment fell to 41% during this quarter. The high-end and luxury housing segments also saw an uptick in sales on a QoQ basis.

New unit launches jumped nearly 30% year-on-year to cross the 60,000 unit mark in the first quarter of 2022. With shares of 43% and 30%, the midrange and high-end categories dominated the new launches in the country.

“The residential sector is poised for a strong 2022 as sales and new launches are expected to show strong performance after showing resilience last year. Continued government policy (particularly towards affordable and mid-range segments), improved vaccination coverage, resumption of economic activity coupled with attractive mortgage rates are likely to contribute to strong sector performance residential,” said Anshuman Magazine, Chairman & CEO – India, Southeast Asia, Middle East and Africa, CBRE.

The report also pointed out that cities in the west of the country continued to drive sales as well as unit launches. Pune led home sales in the first quarter of 2022 with a 27% share, followed by Delhi-NCR (21%), Mumbai (20%) and Bangalore (14%). In terms of unit launches, Pune led among cities with a 29% share, followed by Mumbai (22%) and Hyderabad (20%).

“While we believe the midscale and affordable categories would continue to drive sales, the upscale and luxury categories have also seen renewed interest from investors, fueled by anticipated appreciation in capital value and increased activity of HNIs and NRIs,” said Gaurav Kumar and Nikhil. Bhatia, Managing Directors of Capital Markets and Residential Affairs, CBRE India.

In the office segment, the positive rental dynamic should strengthen further.

Addition of supply in the first quarter of 2022 hit nearly 9.4 million square feet, down about 11% year-on-year and 41% quarter-on-quarter, while leasing activity recorded 11 .4 million square feet, up 97% year-on-year but down 25% quarter-on-quarter.

Small to medium-sized deals (up to 50,000 sq ft) dominated space occupancy with nearly 84% share in Q1 2022. Bangalore, followed by Hyderabad and Chennai, dominated the offering, with a combined share of 70%

Leasing activity is expected to strengthen further in the coming quarters due to a combination of pent-up demand and expansion/consolidation-focused leasing as occupiers begin to realign their post-pandemic business strategies.

In the industrial and logistics segment, Tier I cities lead the sector’s upward growth trajectory and I&L leasing activity grew approximately 19% year-over-year to 6.5 million square feet in the first quarter of 2022.

Delhi-NCR led the uptake with a 27% share, followed by Mumbai (21%) and Kolkata (16%). Demand for space is expected to touch approximately 35-37 million square feet, driven by the continued expansion of e-commerce and 3PL players amid macroeconomic recovery and increasing online retail penetration.

In the retail segment, malls and prime shopping streets are expected to remain the most sought-after locations. Rollover to these key destinations may allow some retailers to establish/expand in these locations and malls.

At nearly $1.4 billion, capital inflows increased 24% quarter-on-quarter in the first quarter of 2022. With a 38% share, development land/sites led investment; followed by the office (35%) and retail (19%) sectors.

Mumbai, Delhi-NCR and Chennai together accounted for around 64% of the total investment amount in Q1 2022, while institutional investors led the investment activity with a share of almost 50%, followed by developers (38%) .

An increase of 5-10% year-on-year is expected compared to the investment value of 2021; greenfield assets likely to experience a sharp uptick in investment.

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