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Found 100 results

  1. je sais pas c'est qui ce monde la, mais cette petite 'home video' de ce qui semble etre des touristes d'outre-mer pourrait presque faire office de video promotionel pour tourisme montreal ...! bref, c'est bien. http://www.youtube.com/watch?v=8_UiOrQlaWo&feature=related
  2. 10 décembre 2013 Merci à MTLskyline pour cette découverte : http://forum.skyscraperpage.com/showthread.php?t=146803&page=120
  3. Feb. 26 (Bloomberg) -- New York’s biggest banks and securities firms may relinquish 8 million square feet of office space this year, deepening the worst commercial property slump in more than a decade as they abandon a record amount of property. JPMorgan Chase & Co., Citigroup Inc., bankrupt Lehman Brothers Holdings Inc. and industry rivals have vacated 4.6 million feet, a figure that may climb by another 4 million as businesses leave or sublet space they no longer need, according CB Richard Ellis Group Inc., the largest commercial property broker. Banks, brokers and insurers have fired more than 177,000 employees in the Americas as the recession and credit crisis battered balance sheets. Financial services firms occupy about a quarter of Manhattan’s 362 million square feet of office space and account for almost 40 percent now available for sublease, CB Richard Ellis data show. “Entire segments of the industry are gone,” said Marisa Di Natale, a senior economist at Moody’s Economy.com in West Chester, Pennsylvania. “We’re talking about the end of 2012 before things actually start to turn up again for the New York office market.” The amount of available space may reach 15.6 percent by the end of the year, the most since 1996, according to Los Angeles- based CB Richard Ellis. Vacancies are already the highest since 2004 and rents are down 5 percent, the biggest drop in at least two decades. In 2003, the city had 14.8 million square feet available for sublease. If financial firms give up as much as CB Richard Ellis expects, that record will be broken. ‘Wild Card’ CB Richard Ellis’s figures don’t include any space Bank of America may relinquish at the World Financial Center in lower Manhattan, where Merrill Lynch & Co., the securities firm it acquired last month, occupies 2.8 million square feet. Brookfield Properties Inc., the second-biggest owner of U.S. office buildings by square footage, owns the Financial Center. Merrill “is a wild card right now,” said Robert Stella, principal at Boston-based real estate brokerage CresaPartners. Manhattan’s availability rate -- vacancies plus occupied space that is on the market -- was 12.3 percent at the end of January, up more than 50 percent compared with a year earlier and almost 9 percent from December, according to CB Richard Ellis. Commercial real estate prices dropped almost 15 percent last year, more than U.S. house prices, Moody’s Investors Service said in a Feb. 19 report. The decline returned values to 2005 levels, according to the Moody’s/REAL Commercial Property Price Indexes. SL Green The Bloomberg Office REIT Index fell 25 percent since the start of January, with SL Green Realty, the biggest owner of Manhattan skyscrapers, slumping 50 percent. Vornado Realty Trust, whose buildings include One and Two Penn Plaza in Midtown, has fallen 36 percent. SL Green of New York gets 41 percent of its revenue from financial firms, including 13 percent from Citigroup, according to its Web site. Bank of America plans to give up 530,000 square feet at 9 West 57th St. as it completes a move to 1 Bryant Park. New York- based Goldman Sachs Group Inc. is leaving 1.3 million square feet of offices at 1 New York Plaza and 77 Water St. as it prepares to move to new headquarters near the World Trade Center site. JPMorgan put 320,000 square feet of Park Avenue offices on the market after scooping up rival Bear Stearns Cos. last year along with the company’s 45-story headquarters tower at 383 Madison Ave. Citigroup has put 11 floors, or 326,000 square feet, on the market at the 59-story Citigroup Center at Lexington Avenue and 53rd Street, bank spokesman Jon Diat said in an e-mail. The tower is owned by Mortimer Zuckerman’s Boston Properties Inc. Moving Out “We’ve been having conversations for two and a half years with Citigroup, and it’s been very clear to us that for the right economic transaction, they would move out of virtually any space in midtown Manhattan that they have,” Boston Properties President Douglas Linde said on a conference call last month. Boston Properties is also expecting to receive about 490,000 square feet back from Lehman Brothers at 399 Park Ave. as part of the bank’s liquidation. That space “will be a monumental challenge” to fill, said Michael Knott, senior analyst at Newport Beach, California-based Green Street Advisors. “They’re going to have to really bend over backwards on rate, or make the strategic decision to sit on it for an extended period of time.” Zuckerman said in an interview he doesn’t expect the increase in sublets to be a long-term problem for landlords. “You’re not going to be able to get for the space what you were able to get a year ago,” he said. “But in a year or two, in my judgment, the space will be absorbed.” Future Forecast Landlords must be prepared for a slow recovery, said Di Natale of Moody’s Economy.com. Commercial vacancy rates climbed for almost a year and a half after the last recession ended in late 2001. Still, CB Richard Ellis Tri-State Chairman Robert Alexander said New York’s financial community will regenerate. “In the late ‘80s, we lost Drexel Burnham Lambert and we lost Salomon Brothers, and we lost Thomson McKinnon,” Alexander said. “New York City survived.”
  4. Lawyer exodus shutters Desjardins 35 Lawyers Join Rival Lavery Firm; Quebec's Spun Off Jim Middlemiss, Financial Post Published: Saturday, August 18, 2007 An era will end for the 100-lawyer law firm Desjardins Ducharme LLP in September. The once-esteemed law firm will close after more than 50 years in business. Thirty-five of its key Montreal business lawyers will leave the firm to join rival Lavery, de Billy LLP at the end of next month. Concurrently, the Quebec City office of Desjardins, which comprises 50 lawyers and merged into the firm in 1992, has spun out and will operate under its old name Stein Monast LLP. [/url] Another seven litigators from the Montreal office will join litigation specialist Donati Maisonneuve LLP. The final eight lawyers will either retire or have said they are moving to other firms or into corporations. "We have accounted for everyone," said Gerard Coulombe, chairman of Desjardins, who explained that "Quebec City couldn't join the Lavery deal because it would have created too big a firm[for that region.]" Jean Brunet, managing partner of the Quebec City office, agreed: "You can't have a law firm of 100 lawyers in the area. "We're putting down the principles of how it will work in Quebec City," he said of the new firm, adding that he does not rule out opening a smaller Montreal office. The addition of 35 lawyers to Lavery creates a 180-lawyer firm, making it the largest independent provincial firm. The split is no surprise and has been rumoured for weeks once Desjardins started bleeding lawyers to other firms. "We took a good hard look at the various practices and groups lawyers," said Richard Dolan, managing partner at Lavery, said. "We settled on some very strong, solid business lawyers and bankruptcy and insolvency lawyers who had complementary practices to our practice mix. This is a really exciting business opportunity for us." Lavery has always had strong business in insurance, said Mr. Dolan, "The lawyers are going to bring additional bench strength to our corporate merger and acquisitions practice and the insolvency group." Of late it has been a tough go for some independent law firms, squeezed by the creation of large national firms, especially in Montreal, where several Toronto-based firms have opened offices or merged with local firms. In the spring, Goodman and Carr LLP, a 90-lawyer Toronto firm, said it was dissolving its practice. Kip Cobbett, a lawyer with Stikeman Elliott LLP in Montreal, said it is "very sad" to see Desjardins' demise. "It was a wonderful firm. It will certainly change the landscape." The agreement is subject to a vote by the Lavery partners expected later this month. [email protected]
  5. Let's have a go at it! Family Guy The Office (U.S. version) Mythbustesr Hockey Penn & Teller : Bullshit Pimp My Ride Star Trek : TNG and DS9 (mon côté geek)
  6. Natalie Finn Sat Feb 21, 1:59 am ET Los Angeles (E! Online) – It's not going to snag 11 Oscars, but The Dark Knight—Christian Bale and all—is nipping at Titanic's heels in the court of public opinion. The 2008 blockbuster has surpassed $1 billion at the worldwide box office, Warner Bros. announced late Friday. According to BoxOfficeMojo.com, the critically acclaimed Caped Crusader sequel—which actually could win eight Academy Awards on Sunday—is now in fourth place on the list of all-time box office grosses, behind only Titanic ($1.84 billion), The Lord of the Rings: The Return of the King ($1.12 billion) and Pirates of the Caribbean: Dead Man's Chest ($1.07 billion). The Dark Knight is currently sitting pretty with $1.001 billion, while the fifth-place Harry Potter and the Sorcerer's Stone is way back there with $974.7 million. $533.1 million of that billion-plus sum was grossed in U.S. theaters, while $468 million was raked in overseas. Warner Bros.' news comes along with the announcement that The Dark Knight is also now the top-grossing 2-D IMAX release of all time, with $64.9 million grossed worldwide. ··· THEY SAID WHAT? Get today's most commented stories now at http://www.eonline.com Copyright © 2009 Yahoo! Inc. All rights reserved.Questions or CommentsPrivacy PolicyTerms of ServiceCopyright/IP Policy
  7. http://www.citylab.com/politics/2014/07/paris-wants-landlords-to-turn-vacant-office-space-into-apartmentsor-else/374388/ Paris Wants Landlords to Turn Vacant Office Space Into Apartments—Or Else The city has a surplus of empty commercial buildings that could better serve as residences. And it plans to fine owners who don't convert. FEARGUS O'SULLIVAN <figure class="lead-image" style="margin: 0px; max-width: 620px; color: rgb(0, 0, 0); font-family: Oxygen, Helvetica, Arial, sans-serif; font-size: 17px;"><figcaption class="credit" style="color: rgb(153, 153, 153); font-size: 0.82353em; text-align: right;">Justin Black/Shutterstock.com</figcaption></figure>Leave your office space unrented and we’ll fine you. That’s the new ruledeclared by the city of Paris last week. Currently, between six and seven percent of Paris' 18 million square meters of office space is unused, and the city wants to get this vacant office space revamped and occupied by residents. The penalties for unrented space will be as follows: 20 percent of the property’s rental value in the first year of vacancy, 30 percent in the second year and 40 percent in the third year. The plan is to free up about 200,000 square meters of office space for homes, which would still leave a substantial amount of office space available should demand pick up. The city insists that, while the sums involved are potentially large, this isn’t a new tax but an incentive. And, if it has the right effect in getting property re-occupied, may end up being little-used. Landlords' groups are taking the new plan as well as can be expected. They’ve pointed out that, while the cost of the fines might be high, it could still cost them less to pay them than to convert their properties to homes. According to a property investor quoted in Le Figaro, the cost of transforming an office into apartments can actually be 20 to 25 percent more expensive than constructing an entirely new building. Many landlords might be unwilling or unable to undertake such a process and thus be forced to sell in a market where, thanks to a glut of available real estate, prices are falling. There is also the question of how easy the law will be to enforce: Landlords could rent out vacant properties at a token rent simply to avoid the vacancy fine. <aside class="pullquote instapaper_ignore" style="font-family: Bitter, Georgia, 'Times New Roman', serif; font-size: 2.11765em; line-height: 1.05556; border-top-width: 5px; border-top-style: solid; border-top-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0); padding: 25px 0px; margin: 30px 0px;">As Paris becomes a laboratory for new legislation to make homes more plentiful and affordable, other European cities would do well to watch it carefully. </aside>It’s too early to see if these predictions will come true, but past experience in smaller French property markets suggests it won’t. The fines have already been introduced elsewhere in France: in the country’s fourth city of Lille (governed by the Socialist party) and in the Parisian satellite town of St Quentin-en-Yvelines (governed by the right wing UMP). So far, neither has experienced a legislation-exacerbated property slump. It’s also fair to point out that Paris is asking for a round of belt tightening from pretty much every group involved in the city’s real estate. The new levy is part of a plan announced last month that will also pressure state and semi-public bodies to release Parisian land for home building. Paris has some fairly large reserves of this, including space currently owned by the state health authority, by the national railway network and by the RATP—Paris’ transit authority, on whose unused land alone 2,000 homes could be built. In the meantime, stringent planning laws are also being relaxed to cut development costs for office converters. They will no longer, for example, be obliged to provide parking spaces for new homes, as they had been until the law change. Finally, starting next year, landlords will get an incentive to rent their properties to financially riskier lower-income tenants by having their rents and deposits guaranteed by a new intermediary, a public/private agency called Multiloc. Coming on top of laws that have relaxed building-height restrictionson the Paris periphery, it’s clear that, for Paris developers and landowners, there’s a decent ratio of carrot to stick. But will it all work? At the very least, Paris deserves recognition for being proactive, especially on a continent where many cities’ grip on the property sector is floundering. Berlin has recently had major new homebuilding plansrejected by residents (for good reason—they were due to get a bad deal), while the U.K.’s number of newly built homes has actually gone down, despite property prices continuing to rise sharply. As Paris becomes a laboratory for new legislation to make homes more plentiful and affordable, other European cities would do well to watch it carefully. (Photo credit: Justin Black/Shutterstock.com)
  8. Condos, costs squeeze Vancouver office space DAVID EBNER From Monday's Globe and Mail June 29, 2008 at 10:33 PM EDT VANCOUVER — The numbers, at first glance, couldn't look better for a commercial real estate developer. On the small peninsula that constitutes downtown Vancouver, there's barely any available office space. The 2.6-per-cent vacancy rate ranks as the lowest of any city core in North America. And rents are soaring, with the cost of prime office space jumping 25 per cent in just one year to more than $34 per square foot. Yet hardly any new commercial space is being built. Just 130,000 square feet is under construction in downtown Vancouver, which would add less than 1 per cent to what exists. It's a fraction of what's happening elsewhere: Calgary's downtown is expanding by 5.6 million square feet, or 17 per cent, and Toronto is growing by 3.8 million square feet, or 5 per cent. Construction costs have risen far faster than rents, driven by a Western Canadian construction boom that has made labour scarce and expensive, and the climbing cost of materials such as steel. Vancouver developers say they just can't make the numbers add up for new projects. In Calgary, for example, the energy boom allows developers to charge $45 a square foot, a third more than they can get in the Vancouver market. “It takes a lot of nerve to build today,” said Don Vassos, a senior vice-president at real estate services firm CB Richard Ellis Ltd. who opened the company's Vancouver office 24 years ago. Since then, the downtown has gone through a transformation that helped produce the current shortage of commercial space. It's a trend the city now hopes to reverse. In the 1980s and 1990s, planners and politicians set about creating the Vancouver that currently exists, one consistently on best-places-to-live lists. Under the rubric of “living first,” the city heavily promoted residential development downtown, pushing the population on the peninsula to 90,000, more than double the 40,000 or so in the mid-1980s. But the dozens of residential condominiums have begun to squeeze the commercial core. Four years ago, alarm bells started going off for planners when Duke Energy sold the landmark Westcoast Transmission building for a condo conversion. That provoked the city to impose a temporary halt on such changes in the central business district. With developers predicting that Vancouver will run out of space to build new commercial buildings in the next 20 years, city council is poised to encourage construction of more office space. In July, it will consider a series of proposals from planners that include an expanded central business district, tighter rules on condo conversions and proposals to allow taller towers with more density. Until things change, however, businesses will continue to feel the squeeze. Part of the problem, developers say, is that condos are far more profitable than commercial space because residential buyers are willing to pay large premiums for benefits such as views of the ocean and mountains. And unlike Calgary and Toronto, where large corporations drive demand for many storeys of commercial space, the typical Vancouver tenant is more likely to be a law firm or upstart technology company requiring far less space. Developers have to sign on many more tenants to make a project work instead of landing one big name. Some Vancouver developers say the city has to take measures to encourage new commercial buildings that go beyond the proposals city planners have put together. “They need to address costs,” said Tony Astles, executive vice-president for B.C. at Bentall Real Estate. “And they need to address the length of time it takes to go through the whole process, from zoning to approvals. “It's a clogged-up system. Right now, it's very difficult to rationalize a high-rise office tower in downtown Vancouver. The costs of construction have risen so fast that rents – even though they're at their all-time high – haven't kept up.” http://www.reportonbusiness.com/servlet/story/RTGAM.20080629.wrdowntown30/BNStory/Business/home
  9. Stage is set for Montreal to grow as a technology startup hub BERTRAND MAROTTE MONTREAL — The Globe and Mail Burgeoning tech companies are on the rise in Canada, attracting funding and IPO buzz in hubs across the country. Our occasional series explores how each locale nurtures its entrepreneurs, the challenges they face and the rising stars we’re watching. Montreal provides an ideal setting for the early care and feeding of tech startups. The city boasts a lively cultural milieu, a party-hearty mindset, cheap rents and a bargain-priced talent pool. ALSO ON THE GLOBE AND MAIL MULTIMEDIAStartup city: The high-tech fever reshaping Kitchener-Waterloo What it doesn’t have, though, is sufficient critical mass to propel promising tech companies forward in their later stages. Case in point: VarageSale Inc., the mobile app and listings marketplace that serial entrepreneur Carl Mercier co-founded with his wife Tami Zuckerman three years ago. Mr. Mercier and Ms. Zuckerman were quite content in the early going with the Montreal zeitgeist and support from the city’s tightly knit startup community as they nurtured their baby, a combination virtual garage sale, swap meet and social meeting place. But as VarageSale took off, the burgeoning company was no longer able to feed its growth relying only on Montreal resources. Mr. Mercier eventually opened an office in Toronto to tap into the wider and deeper software-developer talent pool in the Toronto-Waterloo corridor and he ultimately decided to move the head office to the Queen City. “We were growing extremely fast. We were hiring like gangbusters in Montreal but we needed to hire even faster, so we decided we needed two talent pools, but Toronto ended up growing faster than Montreal,” Mr. Mercier explains. “Occasionally, we will hire people in Montreal. “There’s a vibrant startup scene [in Montreal]. It’s not a big startup scene but it’s a vibrant one,” he adds. “There is lots of activity, a lot of events, a lot of early-stage capital. Startups can get off the ground cheaply and quickly.” It’s the later stages that present problems, according to successful local entrepreneur and angel investor Daniel Robichaud, whose password-management firm PasswordBox Inc. was bought last year by U.S. chip giant Intel. “Montreal is a terrific place to build a product but it’s not where the action is. It’s not a place to raise funding,” Mr. Robichaud said in a recent industry conference presentation. Montreal startup founders often find themselves having no choice but to move to bigger playgrounds because of a still-embryonic domestic investor scene, says Université de Montréal artificial intelligence researcher Joshua Bengio. The startup sphere in Montreal is “quite active, but the investors are too faint-hearted and short-term oriented, and so the developers often go elsewhere, particularly California and New York,” he said. In true Quebec Inc. fashion, the provincial government and labour funds have stepped in to fill the gap of funding homegrown companies. A key player is Teralys Capital, a fund manager that finances private venture capital funds that is backed by a score of provincial players – including the mighty pension fund manager Caisse de dépôt et placement du Québec, the labour fund Fonds de solidarité FTQ and Investissement Québec – said Chris Arseneault, co-founder of Montreal-based early-stage venture capital firm iNovia Capital. “They’ve been the most creative groups to try and put money at work,” he says about Teralys and its backers. Startup directory BuiltinMtl, has about 520 Montreal startups listed (excluding biotechs, film-and-tv-production houses or video-game developers). The actual number is probably closer to a “few thousand” if very early-stage startups still under the radar are included, according to Andrew Popliger, senior manager in PricewaterhouseCooper’s Assurance practice. Data from the Canadian Venture Capital and Private Equity Association indicate venture capital firms invested $295-million in Quebec last year – just 15 per cent of the Canadian total – compared with $932-million in Ontario and $554-million in B.C. Most insiders and observers agree that what works in the Montreal tech “ecosystem” is a strong sense of community. There is a spirit of collaboration and collective vision. Notman House, a repurposed mansion adjacent to Sherbrooke Street’s famous Golden Square Mile, which sits at the crossroads of the city’s tech startup scene, rents office and workstation space, stages events, and acts as an incubator and networking locale and launch pad for budding companies seeking their big break. It represents everything that makes Montreal distinct in the North American startup sphere, says Noah Redler, the venue’s campus director. “We’re not just an incubator. We’re a community centre. We bring people together and collaborate. People are supported and surrounded by [successful] entrepreneurs,” he said. “There are more startups in the Waterloo area but there is more of a community feeling in Montreal,” says Katherine Barr, the Canadian-born co-chair of C100, a Silicon Valley expat group that helps connect Canadian entrepreneurs with U.S. investors. “They’ve built a real community here. Like Silicon Valley, its co-opetition, both competing and helping each other,” Ms. Barr said during a break at AccelerateMTL, an annual conference that brings together “founders and funders.” There may not be as great a number of head offices as in Toronto but the potential for big breakthroughs in Montreal is impressive, says John Ruffolo, chief executive officer of OMERS Ventures, the venture arm of the Ontario Municipal Employees Retirement System. “For Montreal, it’s only a matter of time. They’re going to have their Shopify,” he says in reference to the Ottawa-based e-commerce platform that has become a stock market star. For now though, Montreal may have to settle for being a relatively small player and modest incubator of talent and ideas on the North American startup scene, even compared with Vancouver and Toronto.
  10. H&R REIT hits a roadblock with The Bow LORI MCLEOD November 14, 2008 When H&R Real Estate Investment Trust signed on as the owner and developer of EnCana Corp.'s new head office in Calgary last year, the deal marked a milestone. At the peak of the real estate boom in February, 2007, the handshake between the natural gas producer and the real estate developer set in motion the creation of a unique, crescent-shaped skyscraper which is set to become the tallest office tower west of Toronto. At the time it was announced the project known as The Bow, became a symbol of Calgary's coming of age as a Canadian financial powerhouse in the midst of the commodities boom. Almost two years later, times have changed and the development that was to become H&R's crown jewel has hit a funding wall. "At present there are no financing arrangements in place on any of the REIT's development projects, and the current difficult economic conditions have impacted H&R's financing strategy," the trust said late yesterday in a release of its third-quarter financial results. The trust said it is considering selling assets, including The Bow, to address its funding challenges. So far, attempts to find an investor for the project have failed and are unlikely to succeed until H&R moves further along with its financing and construction efforts, said Neil Downey, analyst at RBC Dominion Securities Inc. H&R's biggest problem has been the seizure of the credit markets, which happened swiftly, unexpectedly, and before it secured a construction loan for The Bow, said Dennis Mitchell, portfolio manager at Sentry Select Capital. Labour and materials costs are rising, and the cost of the project has risen from $1.1-billion to $1.4-billion. Adding to the pain is the downturn in the financial and commodities markets, which is sending office vacancy rates up and real estate values down. While the large scale of The Bow was a bit concerning, in "heady" times it was an exciting project, Mr. Mitchell said. "In February of 2007 you were essentially in the peak of the market. You were talking about [real estate firm] Equity Office Properties being purchased in a bidding war. You had people talking about a wall of capital coming into the markets. It was a pretty heady time," said Mr. Mitchell, whose firm recently sold nearly all of the 55 million H&R shares it owned. His view in February, 2007, was that H&R would be able to sell a 50-per-cent stake in the project at a gain in about six months. As the project proceeds, over budget and in need of $1.1-billion in funding, H&R is facing some tough choices, Mr. Downey said. While it was not mentioned as an option by H&R, Mr. Downey has raised the possibility of a distribution cut of up to 50 per cent, starting in 2009 and continuing until the project is completed in 2011, he said. "This would be a Draconian move by REIT standards," he added. However, it would provide H&R with an additional $300-million in capital, which should be enough to make up the financial shortfall if it can secure a $500-million construction loan, he said.
  11. Thomson Reuters office in Old Montreal.
  12. Vacancy rates keep rising in third quarter for Canada's commercial real estate sector, report shows (CP) – 44 minutes ago TORONTO — The amount of empty office space across Canada continued to rise in the third quarter due to higher unemployment in white-collar industries and excess inventory in some cities, a new report shows. Vacancy rates for commercial real estate are expected to keep rising "well into 2010" as the country works through the impact of the recent recession, CB Richard Ellis Ltd. said in report released Monday. Vacancy rates rose for the third straight quarter to an average of 9.4 per cent, up from 6.3 per cent for the same time last year, said the real estate services firm. "Limited new job creation in Canada's 'white-collar' industries and the addition of new inventory in two of Canada's three largest office markets are cited as reasons for the increase," according to the National Office and Industrial Trends Third Quarter Report. Commercial vacancy rates rose most noticeably Calgary, Toronto and Vancouver, the report shows. Calgary's third quarter vacancy rate jumped to 13.1 per cent, from 4.7 per cent last year, due to the impacts of a slowdown in the oil and gas industry. "The city's oil and gas industry and commercial market remained inexorably linked, as players both large and small continue to recognize that even Calgary has not been immune to the country's new economic reality," the report states. In Toronto, the commercial vacancy rate rose to 9.1 per cent from 6.6 per cent last year. The vacancy rate in downtown Toronto is expected to climb further in the coming quarter as space becomes available in newly constructed office towers. In Vancouver, vacancy rates climbed to 8.9 per cent from 5.4 per cent for the same time last year. The report said Vancouver is one of the more stable markets in the country thanks to limited new development. Montreal's vacancy rate rose to 10.3 per cent from 8.3 per cent last year, while Halifax's rose to 10.2 per cent from 8.4 per cent. Vacancy rates also rose in the country's smaller office markets, specifically in suburban areas, but at a lesser rate, the report shows. It said cities with government office space also saw more stability in their commercial real estate markets. Ottawa had the lowest overall third quarter vacancy rate in the country of 5.8 per cent compared to five per cent for the same time last year, while Winnipeg's rate came in at 7.5 per cent up from 4.8 per cent last year. The overall vacancy rate in the Waterloo Region, home to such technology firms as Research in Motion (TSX:RIM), edged up slightly to 6.7 per cent from 6.4 per cent last year. The report predicts vacancy rates to keep rising in the fourth quarter and into 2010, "as Canada continues to grind its way out of the recession."
  13. La succursale va fermer. C'est incroyable. On dirait presque un canular. Perte immense pour le patrimoine de Montréal... *** Royal Bank abandons historic 360 St. Jacques building June 23, 2010. 1:57 pm • Section: Metropolitan News The Royal Bank of Canada is closing its historic branch in Old Montreal, in what was once the tallest building in the British Empire and the bank’s head office. The image above, from Google Earth, shows the building (in the middle, foreground) and the skyscrapers that followed it. The bank has more on the history of the Montreal landmark here and here. And check out this city of Montreal history. This story appeared in the Granby Leader-Times on March 4, 1927: http://blogs.montrealgazette.com/2010/06/23/royal-bank-abandons-historic-360-st-jacques-building/
  14. du NationalPost Nobody is selling real estate and few are buying it, so how do you value it? The question dominated a panelist discussion that included the leaders of some of the largest real estate companies in the world. The consensus at the 14th annual North American Real Estate Equities conference, put on by CIBC World Markets, is the Canadian market will see little activity in 2009. Pinned down on what Toronto's Scotia Plaza might fetch in today's market, Andrea Stephen, executive vice-president of Cadillac Fairview Corp., said she couldn't answer. "It is difficult because there is a small pool of buyers," said Ms. Stephen who passed the question on to Tom Farley, chief executive of Brookfield Properties Corp. which is now building the Bay-Adelaide Centre, the first new office tower in Toronto's financial core in 15 years. Mr. Farley noted only three major assets have traded in the past seven years, the last being the TD Canada Trust Tower in Toronto. That was sold at $723/square foot, he said. Ms. Stephen said that figure might be "little rich" in today's market, but said it's hard to establish a real price. When Cadillac, which is owned by the Ontario Teachers Pension Plan Board, bought the Toronto-Dominion Bank's office tower assets the price was about $300 a square foot but that was eight years ago. There is no real pressure on any of the major owners of Canada's office towers to sell, so the type of fire sales that have been seen in the United States are less likely. "You have eight entities that control 90% [of the major towers]. It's ourselves and seven pension funds," said Mr. Farley. "We can weather the storm." Not everyone on the panel was as confident about the Canadian market. David Henry, president of retail landlord Kimco Realty Corp. which is based in the United States but has some holdings in Canada, said rental rates are "falling of the cliff." He did note the company's Canadian portfolio is holding up better than its U.S. holdings. He said there will be merger opportunities as prices continue to fall. Mr. Henry, said capitalization rates have been rising with alarming speed. The cap rate is the expected rate of return on a property, the higher the cap rate the less a property is worth. "We saw cap rates go from 6 to 8.5 in the United States. It may not go as high [in Canada] but it could go to 8," he said, referring to the retail sector. Dori Segal, the chief executive of First Capital Realty Corp., said he still hasn't seen the buying opportunities. "There is not a single grocery anchored shopping centre for sale in Toronto, Montreal, Vancouver, Calgary or even Victoria for that matter," said Mr. Segal.
  15. First Canadian Place officer tower to receive a facelift 680News staff Toronto | Thursday, September 24th, 2009 7:56 am Toronto - First Canadian Place, Canada's tallest office tower, will be receiving a $100-million makeover. There are currently 45,000 slabs of white marble on the 72-storey home for the Bank of Montreal. But, Brookfield Properties, the building's owner, is going to replace the marble with 7,800 panels of white glass. The National Post reported the property, which opened in 1975, has already seen a refurbishment of some of the marble slabs, but the look has deteriorated. Tom Farley, president and CEO of Brookfield's Canadian commercial operations, told the paper that when the company bought the property in 2005, they knew it was a fixer-upper. If the original builder had used thicker marble, it would have lasted 100 years. Brookfield said it will also renovate the lobby of the tower. The National Post called the renovation another positive signal for the downtown business core, with the recent opening of the Bay-Adelaide Centre and two other office towers opening before the end of the year. ----- Hyrdo-Quebec are you listening??? Please renovate your POS.
  16. monctezuma

    Apple new HQ

    Foster’s Apple Headquarters Exceeds Budget by $2 Billion © Foster + Partners, ARUP, Kier + Wright, Apple The estimated cost of Apple’s Cupertino City headquarters has escalated from an already hefty price of $3 billion to $5 billion (more than $1,500 per square foot), reportedly pushing back the original completion date to 2016. According to Bloomberg, Apple is working with lead architect Foster & Partners to shave $1 billion from the “ballooning budget”. Most of the cost is seemly due to Steve Job’s “sky-high requirements for fit and finish”, as the tech legend called for the 2.8 million square foot, circular monolith to be clad 40-foot panes of German concave glass, along with its four-story office spaces be lined with museum-quality terrazzo floors and capped with polished concrete ceilings. Although lambasted for his ambitious plans and “doughnut-shaped” design, Steve Jobs wanted to create a masterpiece that looked as good as it functioned, just like his products. During a 2011 presentation to the Cupertino City Council, Jobs stated, “This is not the cheapest way to build something… there is not a straight piece of glass in this building.” He continued, “We have a shot… at building the best office building in the world. I really do think that architecture students will come here to see it.” © Foster + Partners, ARUP, Kier + Wright, Apple The spaceship-like headquarters, as Jobs would describe, is intended to accommodate more than 12,000 employees. It will be one of six visible structures planned for the 176 acre parcel - including the headquarters, a lobby to a 1000-seat underground auditorium, a four-story parking garage near Interstate 280, a corporate fitness center, a research facility and central plant - all of which will be accessed by a network of underground roads and parking lots, hidden by 6,000 trees. In addition, Jobs envisioned the campus to achieve “net-zero energy” by offsetting energy use with 700,000 square feet of rooftop solar panels (enough to generate 8 megawatts of power), along with additional contracts for solar and wind power, climate responsive window dressings, and more (additional project information, including plans and images, can be found here). © Foster + Partners, ARUP, Kier + Wright, Apple Despite the cost, Bloomberg states, “There’s no indication that Apple is getting cold feet.” Site excavation is planned to commence in June. In related news, Facebook’s quarter-mile-long West Campus by Frank Gehry was just awarded approval from city council. All the details here. Reference: Bloomberg
  17. as much as Aubin is a loud mouth - he;s not far from the truth. A wake up call to forum members.. we all love Montreal but we need to seriously wake up. 2011/2012 was a bad 2 years - we need to improve MONTREAL — SNC-Lavalin Inc. — founded by francophone Montrealers, headquartered in Montreal and active in engineering and construction projects in more than 100 countries — has long been the proud symbol of Québec Inc. Now, however, it risks becoming a symbol of something else — the decline of Montreal’s place on the world stage. The company announced last week that it is creating its largest corporate unit (one focused on hydrocarbons, chemicals, metallurgy, mining, the environment and water) and locating it not in Quebec but in London; heading it will be a Brit, Neil Bruce. As well, the company also said it was creating a global operations unit that would be based in the British capital. To be sure, SNC-Lavalin denies speculation by a La Presse business columnist that the company might be slowly moving its head office from Montreal. The two moves to London must be seen as reflecting “our healthy expansion globally,” says a spokesperson. “The corporate headquarters and all its functions still remain in Montreal.” Nonetheless, this unmistakable shift of authority abroad takes place within a broader context of fewer local people atop the SNC-Lavalin pyramid. In 2007, six of the top 11 executives were francophone Quebecers; last year, three. Note, too, that only two of 13 members of its board of directors are francophone Quebecers. When the company last fall replaced discredited Pierre Duhaime of Montreal as president, CEO, and board member, it picked an American, Robert Card. What’s happening to the company based on René-Lévesque Blvd. is the latest sign of the erosion of Montreal’s status as a major business centre. Of Canada’s 500 largest companies, 96 had their head offices in this city in 1990; in 2010, says Montréal International, only 81 remained, a 16-per-cent decline. It’s true that Toronto, too, has seen a decrease (with some of its companies heading to booming Calgary), but it’s only of six per cent. As well, because Hogtown has more than twice as many head offices as Montreal, the trend there has far less impact. Anyone with a stake in Montreal’s prosperity should care about what’s happening here. Head offices and major corporate offices, such as the SNC-Lavalin’s units, bring more money collectively into the city than do big events — the Grand Prix and the aquatics championship — whose threatened departures cause political storms. Such offices employ high-spending, high-taxpaying local residents and attract visiting business people year-round — people who represent income for cabbies, hoteliers, restaurateurs, computer experts, lawyers and accountants. Indeed, this week’s controversy over the absence of direct air links from Trudeau International Airport to China and South America is pertinent to this trend. It’s not only federal air policy over the decades that’s responsible for this isolation. It’s also that Montrealers have less money, and one reason for that is, as Trudeau boss James Cherry notes, “there are far fewer head offices in Montreal.” Keep losing them and we’ll be a real backwater. But how do we avoid losing these offices? We don’t need more studies. Tons of studies — good ones — already exist. The No. 1 factor for a company when choosing a head office location is corporate taxes, according to a Calgary Economic Development study. Quebec’s are the highest in Canada and the U.S. Thirty-four per cent of the executives at 103 local companies say that Montreal’s business climate had “deteriorated “ in the previous five years, Montreal’s Chambre de commerce found a year ago. The main reason: infrastructure (not only roads but also the health system). A study called “Knowledge City” that Montreal city hall commissioned in 2004 is still relevant. Its survey of 100 mobile, well-educated people (some of whom had already left Montreal) found that their top three biggest complaints with the city were, in descending order, high personal taxes, decaying infrastructure and political uncertainty from sovereignty. All studies agree that the quality of Montreal’s universities helps attract companies. Weakened universities would lower this power. The Parti Québécois government’s minister for Montreal, Jean-François Lisée, declared before Christmas that he was “Montréalo-optimiste.” He did not, however, spell out concrete steps for addressing the above-listed problems. Too bad that his government on Jan. 1 imposed higher personal taxes for people with high incomes — which hits business people. Too bad it has reduced spending on infrastructure by 14 per cent. Too bad that it has not only reduced funds to universities by $124 million over the next three months but that it says it might cut their funding in other years as well — in effect weakening them. And, finally, too bad that Premier Pauline Marois said this week her party would soon launch a campaign to promote sovereignty and that her government would step up its strategy of wresting powers from Ottawa. In the next few says, she’ll further promote Quebec independence with a meeting in Edinburgh with Scotland’s sovereignist leader. Staunch the hemorrhage of corporate offices from Montreal under this government? The very idea is Montréalo-irréaliste. Read more: http://www.montrealgazette.com/life/Henry+Aubin+avoid+losing+head+offices/7862525/story.html#ixzz2IrXbVaOH
  18. (Courtesy of The Globe and Mail) First stop London, next stop global domination!
  19. http://business.financialpost.com/2011/10/14/rbc-trades-bay-street-for-bay-view/ They are going to have a nice new place.
  20. Le Groupe Le Parc is moving ahead with phase 2 of their retirement residences, corner Viau and Jarry. 8 storey building will be erected. The sales office trailer is installed and the signs are up. =================================================================================================
  21. Wanted to build a second downtown and wanted to have the metro line to go further west for this section. Proposed by Robert Campeau. Would have been known as New City Center 1.5 million sqft shopping center - total 2.2 million sqft retail space 75 floor office tower - total 5 million sqft office space 2 hotels (1750 rooms) 8000 unit condo tower
  22. The jury members are: - Melvin Charney, architect; - Odile Decq, architect and Director of the École Spéciale d'Architecture, Paris; - Jacques Des Rochers, Curator of Canadian Art, Montréal Museum of Fine Arts; - Michel Dionne, architect, Cooper, Robertson & Partners, New York; - Raphaël Fischler, urban planner and professor at the School of Urban Planning, McGill University; - Mario Masson, landscape architect and Division Manager, Service du développement culturel, de la qualité du milieu de vie et de la diversité ethnoculturelle, Ville de Montréal; - Alessandra Ponte, associate professor, School of Architecture, Université de Montréal; - Philippe Poullaouec-Gonidec, landscape architect and holder of the UNESCO Chair in Landscape and Environmental Design at Université de Montréal. Instructions for prospective entrants (Courtesy of CNW Telbec)
  23. http://www.montrealgazette.com/business/sale+city+buildings+prime+spots/5275338/story.html By Allison Lampert, The Gazette August 18, 2011 10:08 PM The former H.L. Blachford Ltd. manufacturing building at 977 Lucien L'Allier St. was purchased for $6.8 million in 2000 MONTREAL - The real-estate arm of the city of Montreal is poised to sell two buildings in prime downtown locations that have been sitting half-empty for years, The Gazette has learned. The two buildings, located near the Bell Centre, are among hundreds of thousands of square feet of downtown Montreal real estate that has recently changed hands – or is to be sold off – for new office and residential projects, at a time when land prices have reached all-time highs. The buildings, which are to be put up for tenders this year by the Société d’habitation et de développement de Montréal, are located on sites originally destined for the third phase of Quebec’s ill-fated E-Commerce Place. Quebec’s Department of Finance mandated the SHDM to manage the buildings it bought for close to $7.9 million in 2000. “We want to put them for sale by the end of the year,” said Carl Bond, director of real estate management for the SHDM, a paramunicipal organization that owns and manages affordable housing units, along with several commercial buildings. “Those buildings will be sold, but we need an authorization from the (Department) of Finance.” Located at 977 Lucien l’Allier, and 1000-1006 de la Montagne St., south of René Lévesque Blvd., the buildings were initially slated to be demolished to make way for gleaming office towers. They were to be the last part of the 3-million-square foot Parti Québécois-supported project that was later scrapped by the Liberal government in 2003. The 24,000-square-foot site north of the Lucien l’Allier métro station was purchased from manufacturer H.L. Blachford Ltd. for $6.8 million in 2000 – far above the building’s 2011 municipal evaluation of $4.5 million. The disparity between the sales price and the current evaluation, an SHDM spokesperson explained, is because the land was to be used for a lucrative office tower, worth far more than a four-storey manufacturing plant. The two buildings have taken a long time to come to market. That’s because Blachford had a lease at the building until this spring when it ceased operations, Bond said. A travel agency is still operating at the building on de la Montagne, part of which is in a decrepit state. What’s more, the SHDM is now embroiled in legal talks with Blachford over the cost of cleaning up the building, which is contaminated. “Right now the lawyers are talking and we’re hoping to settle this out of court,” Bond said. But some commercial brokers say the SHDM lucked out in waiting. The buildings, they said, would be ideal for residential development at a time when new condos are being constructed in record numbers and downtown land is selling at a premium. “In terms of timing, it’s better to go to the market today,” said Louis Burgos, senior managing director, Cushman & Wakefield, Montreal. Today, land in the downtown area is being sold for $250 to $350 per square foot, brokers say, depending on the level of building density, or how much can be developed overall on the site. The SHDM’s two buildings won’t be coming to market alone. Another three sites have either traded hands, or are to come to market this year for the purpose of development. In late July, a site of Overdale Ave., an estimated 140,000-square-foot plot on the south side of René Lévesque Blvd, beside Bishop St., was sold by a company based out of a Sherbrooke St. West art gallery run by director Robert Landau for $28 million, provincial records show. The buyer is a numbered company owned by investor Kheng Li, who is a partner of E. Khoury Construction Inc. A worker at Khoury who didn’t want to be identified, said the site could be used for either residential or office development. And in April, Cadillac Fairview Corp. Ltd. announced a $400 million investment for an office and three condo towers to be built near the Bell Centre, on Saint Antoine and de la Montagne Sts. Yet a fifth land site near the Bell Centre is to be put on the market next week, The Gazette has learned. The price these sites will fetch will depend on a combination of zoning and market demand. The red-tape Montreal developers have historically faced in obtaining zoning changes to built higher — and more economically viable buildings — may be easier to deal with if the seller is a city agency, brokers say. [email protected] http://www.twitter.com/RealDealMtl Read more: http://www.montrealgazette.com/business/sale+city+buildings+prime+spots/5275338/story.html#ixzz1VRFi0FYh
  24. Even if i'm very intolerant of the PQ - and it's devastating consequences on the Quebec economy - this is why English Canada is half the battle. There's so much bullshit in this article I don't even know where to begin. http://fullcomment.nationalpost.com/2012/10/06/conrad-black-as-quebec-decays-toronto-seizes-greatness/ The announcement this week of an effort spearheaded by art collector and impresario David Mirvish, international architect Frank Gehry and innovative developer Peter Kofman to provide Toronto with a novel vertical, arts-based downtown residential complex is potentially a big step in Toronto’s quest to vault itself into the front ranks of the world’s cities — where it has sometimes prematurely claimed to belong. Whether Canadians from other centres like it or not, Toronto is now and will remain the comparative metropolis of the country, having surged past Montreal after that city entered into a sustained suicide attempt based on separatist agitation and accompanying racial and cultural discrimination. Behind the pretenses to egalitarianism that dress up confiscatory Quebec tax laws and repressive language laws, the real driving ambition has been to push the non-French out of Quebec, buy up the real assets they cannot physically take with them, especially their mansions and office buildings in Montreal, and eliminate up to half the emphatically federalist votes in the province. Montreal’s loss has proven to be Toronto’s gain. Historically, almost all Quebec’s non-French (comprising about 20% of the provincial population) are anti-separatist; and about an equal number of Quebec federalists are authentic French-Canadians who have thrown in their lot with the pan-Canadian option, and are routinely reviled by their peppier Quebec nationalist compatriots as vendus, sell-outs. (In my recent debut as a co-host with Amanda Lang on her CBC news program, the only line of mine that was excised was to this effect — so squeamish does the CBC remain about calling Quebec nationalism what it is: outright racism, at least in the worst cases. Radio Canada, the French CBC, is a notorious infestation of separatists.) The principal bulwark of federalism in Quebec, and therefore in Canada, has been the English-Canadians, who have habitually voted Liberal, and have been shamefully neglected by the Liberal Parties of Canada and Quebec (the first now eviscerated and reduced to the unimaginably dubious expedient of elevating a leader whose sole qualification for high public office was surviving childbirth, and the second defeated and discredited, and now about half English, despite all its ingratitude). But 50 years of nationalist pressure in Quebec, uncompetitively high tax-rates on upper income groups and the endless redefinition of the use of English as a “privilege” that can be whittled down and compromised, have driven over 500,000 people out of Quebec, most of them to the Toronto area. These former Quebecers, and the comparative welcome that Toronto has given external immigration (unlike the Québécois, who are generally hostile to any non-French immigration and none too accommodating even to ostensibly francophone immigrants who don’t speak like Québécois and aren’t too preoccupied with Quebec nationalism), has made Toronto an unusually, almost uniquely multi-cultural city. In fact, Toronto is one of the few jurisdictions where multi-culturalism has not been a disaster. The Netherlands has just rolled back its former official deference to the non-Dutch, and required assimilation in the education system, a belated response to an Islamist influx that is threatening domestic tranquility and social coherence. For less defensible motives, Quebec is placing further strictures on the teaching of English in the state school system, a terrible disservice to the province, which despite its ululations of sufficiency, is a demographically dwindling repository of a not overly dynamic French fact outnumbered 50:1 by its English-speaking North American neighbours, and which by its addiction to transfer payments from English Canada has become a white-collar secular clerisy that contributes little economic added value to anything. Electricity, over-unionized base metals and forest products industries, and a scattering of high tech and financial services are all that generate any earned income for Quebec now. The migrations from Quebec and elsewhere have gradually, over 50 years, transformed Toronto from a tank town of low church Protestant bigotry and ugliness, and radical segmentation between the Catholic and Protestant sections of an almost monochromatic white city — where only hotels had liquor licences, and cinemas were not open on Sunday, and even on Saturday night, everything (which wasn’t much) shut down before 11 o’clock — to a serious metropolis by international standards. The forces of racial and cultural snobbery and intolerance have retreated into a few fetid clubs, where the denizens fester like despotic toads in their unregenerate hypocrisy. Greater Toronto has over 6 million people, the fifth metropolitan area in North America, and 160% of Greater Montreal, and about one fifth of the people who live there are non-whites, and over 30% speak a language other than English or French at home, the exactly opposite policy to the desperate and restrictive cultivation of French in Quebec. These trends will continue, and the rise of Toronto as an increasingly important metropolis of a steadily more important Canada is almost inevitable. This is why it is hazardous, as well as dishonest, for the NDP to paint itself into the Quebec corner, complaining of Albertan oil, and calling, in effect, for repeal of the Clarity Act, to facilitate the separation of Quebec by a bare yes majority on a trick question, and committing the federal government virtually to ban English among its employees in Quebec. It is a disgraceful policy of pandering, minority cultural oppression, and regional abrasion, completely unsuitable for the official, pan-Canadian opposition. It is as if Gilles Duceppe and his unlamented Bloc Québécois had held its majority of Quebec MPs but also elected 40 people in other provinces, mainly Ontario and British Columbia. Returning to this revolutionary plan for Toronto’s entertainment district, all three project leaders, David Mirvish, Frank Gehry and Peter Kofman, are, in their different fields, innovators and creators, and precisely what Toronto needs to translate economic boom and ethnic diversity and population growth into a distinctively great city. Toronto is recognized to be liveable by world standards, and relatively safe and prosperous. But as a great city, it lacks history, drama and flair. History, dramatic historic events, epochal personalities, and great cultural achievements and trends can’t just be confected. And drama is mainly violence: the French Revolution and Napoleonic and other wars in Paris; the Civil War and Blitz in London, the drastic changes of regime in Berlin, and the incomparable drama of Rome, as the imperial and ecclesiastical, and then reunited Italian capital. Even New York and Chicago have the tragic mystique that surrounds gang and gangster wars, revolutionary and Indian skirmishes, countless riots, earth-shaking financial upheavals, 9/11. Toronto obviously does not seek tumult and bloodshed to tart up its ambiance; so to be great, it must ensure that more of its growth comes in the form of brilliant architecture — the construction of iconic projects of the future. The Mirvish project consists of a trio of unusually interesting, 80-storey buildings. It will contrast well with the city’s existing skyscrapers. (Three of Toronto’s impressive bank office complexes, for instance, TD, CIBC and BMO, while fine plazas, are just knock-offs from Mies Van der Rohe, I.M. Pei, and Edward Durrell Stone.) Frank Gehry, who appeared to be descending into self-indulgent eccentricity with his proposed memorial in Washington to Dwight D. Eisenhower that featured a statue of the victorious theatre commander and two-term president as a 14-year-old farm boy, has produced a beautiful design (though it would be better if the Princess of Wales Theatre could be preserved). Toronto must avoid the Canadian tradition of nit-picking the ambitious and original and, as it did when it built the new city hall, it must seize and promote this great and self-generated opportunity.