rental housing industry

Canadian Apartment Magazine

Multi-family housing demand on the rise: CBRE

According to a recent report from the CBRE, demand for multi-family housing is stronger than ever in Canada and, as such, developers are shifting their focus to purpose-built rental housing. The CBRE says multi-family starts rose 52.2 per cent over the five-year average in 2014 as a result of low vacancy rates and a lack of affordable home ownership opportunities.
Avison Young

Canadian Apartment Magazine

Starlight purchases Belle Haven Apartments

The previously announced acquisition of North Carolina’s Belle Haven Apartments by the Ontario-governed Starlight U.S. Multi-Family Core Fund (Starlight) has closed. Belle Haven Apartments, a group of seven three-storey, 176-unit garden style apartment complex, was purchased by Starlight for approximately $26.4-million U.S.

Canadian Apartment Magazine

Calgary approves multi-family recycling bylaw

As of Feb. 1, 2016, Calgary multi-family building residents will have access to more robust on-site recycling services under the region’s new council-approved Waste & Recycling Bylaw. Apartments, condominiums, townhouses and other multi-family complexes will be required to accept paper and cardboard, food cans, glass jars, plastic containers and bags. The City of Calgary will not collect multi-family recycling, but builder owners and managers will be tasked with determining which private company best serves the needs of their building.
Construction Cranes

Canadian Apartment Magazine

Multi-family sector leads Ont. housing starts

According to the Canada Mortgage and Housing Corporation (CMHC), an increase in Ontario housing starts in the multi-family sector over the last several months can be attributed to low vacancy rates, growing prices in the detached housing market and increasing urban intensification.

Canadian Apartment Magazine

Milestone REIT to acquire Orlando apartment

Heritage on Millenia (Heritage), a 303-unit multi-family apartment community in Orlando, Florida, will soon be acquired by the Ontario-governed Milestone Apartments Real Estate Investment Trust (Milestone). Heritage will be purchased for $40.0-million U.S. and is expected to be fully acquired by March 31.
Avison Young

Canadian Apartment Magazine

Starlight to acquire North Carolina apartment

The Ontario-governed Starlight U.S. Multi-Family Core Fund (Starlight) has entered an agreement to acquire a 176-unit apartment complex in Charlotte, North Carolina. Located at 9005 Post Canyon Lane, the LEED-Silver certified property, known as Belle Haven Apartments, will be purchased for approximately $26.4-million U.S.

Canadian Apartment Magazine

Vancouver building permit values hit new highs

The City of Vancouver issued $2.83-billion in building permits last year, exceeding previous records set before the recession in 2008. Building permit values increased 28 per cent, year-over-year, from 2013 and 77 per cent from 2008. Several multi-family rental developments were key contributors to the substantial gain.

Canadian Apartment Magazine

Pure Multi-Family REIT sells Texas apartment

Canadian-based Pure Multi-Family REIT LP (Pure Multi) has completed the sale of a 408-unit Texas apartment for $27.95-million U.S. Located at 2015 Randy Snow Rd. in a submarket of Dallas-Fort Worth, known as Arlington, the Sunset Point Apartments (Sunset Point) community was constructed in 1983.

REMI Network

Milestone to acquire Kansas City apartment

The Ontario-governed Milestone Apartments Real Estate Investment Trust (Milestone) has agreed to purchase a 280-unit multi-family apartment community in Kansas City, Missouri. The complex, known as The Manor Homes of Arborwalk (Arborwalk), will be purchased for $37.25-million U.S.

Canadian Apartment Magazine

Multi-family sector adds $24-bil to Canada’s GDP

According to a report from the Real Property Association of Canada (REALpac), the Canadian multi-family sector contributes approximately $24-billion to Canada’s economy on an annual basis. This number includes revenue generated through construction, investments, ongoing maintenance and operations, and job creation.