Jump to content

Search the Community

Showing results for tags 'real-estate'.

  • Search By Tags

    Type tags separated by commas.
  • Search By Author

Content Type


Forums

  • Real estate projects
    • Proposals
    • Going up
    • Completed
    • Mass Transit
    • Infrastructures
    • Cultural, entertainment and sport projects
    • Cancelled projects
  • General topics
    • City planning and architecture
    • Urban photography
    • Urban tech
    • General discussions
    • Entertainment, food and culture
    • Current events
    • Off Topic
  • MTLYUL Aviation
    • General discussion
    • Spotting at YUL
  • Here and abroad
    • Quebec City and the rest of the province of Québec.
    • Toronto and the rest of Canada
    • USA
    • Europe
    • Projects elsewhere in the world

Calendars

There are no results to display.

There are no results to display.

Blogs


Find results in...

Find results that contain...


Date Created

  • Start

    End


Last Updated

  • Start

    End


Filter by number of...

Joined

  • Start

    End


Group


About Me


Biography


Location


Interests


Occupation


Type of dwelling

Found 6 results

  1. By Sarah Mulholland April 23 (Bloomberg) -- Loan extensions will likely be insufficient to prevent a wave of commercial real-estate defaults as borrowers struggle to refinance debt amid tighter lending standards and plummeting property values, according to Deutsche Bank AG analysts. As much as $1 trillion in commercial mortgages maturing during the next decade will be unable to secure financing without significant cash injections from property owners, according to the Deutsche analysts. At least two-thirds, or $410 billion, of commercial mortgages bundled and sold as bonds coming due between 2009 and 2018 will need additional cash infusions to refinance, the analysts led by Richard Parkus in New York said in a report yesterday. Many commercial real-estate borrowers will be unwilling or unable to put additional equity into the properties, and will have to negotiate to extend the loan or walk away from the property, the analysts said. The volume of potentially troubled loans and declining real-estate values will make loan extensions harder to obtain. “The scale of this issue is virtually unprecedented in commercial real estate, and its impact is likely to dominate the industry for the better part of a decade,” the analysts said. Many dismiss the seriousness of the problem by assuming lenders will agree to extend maturities, according to the report. That approach might work if the amount of loans that failed to refinance was relatively small, but the percentage is likely to be 60 to 70 percent, the analysts said. The overhang of distressed real estate will hinder price appreciation, making lenders less likely to extend mortgages with the expectation that the value of the property will rise enough to qualify for refinancing, the analysts said. Loans made in 2007 when prices peaked and underwriting standards bottomed will face the biggest hurdles to refinancing. Roughly 80 percent of commercial mortgages packaged into bonds in 2007 wouldn’t qualify for refinancing, according to Deutsche data.
  2. Questions simples; Quel sont selon vous les terrains vacant ou stationnement les plus apte à être développer en ce moment à Montréal. Plus communément appeler en anglais "Prime Real-Estate" Par exemple, les miens sont L'îlot Overdale De Loirmier et Ste-Catherine. Stationnements de la Maison Radio-Canada Merci de vos suggestions.
  3. Couillard pushed Quebec City project to Tories after firm lost Montreal bid DANIEL LEBLANC AND INGRID PERITZ With reports from Tu Thanh Ha in Toronto and Rhéal Seguin in Quebec City June 13, 2008 OTTAWA AND MONTREAL -- The Kevlar Group was losing out on a major federal contract in Montreal in early 2007 at the same time as Julie Couillard started lobbying two senior Conservative officials in favour of another one of the company's projects in Quebec City, according to government records and sources. Kevlar wanted to spend up to $25-million to develop a large swath of land that belonged to Canada Post on the Montreal harbourfront. However, another Crown corporation, Canada Lands, used its right of first refusal and snagged the 60,000-square-metre property in a deal that was officially announced on May 2, 2007, a spokesman for Canada Lands confirmed. Kevlar was believed to be unhappy in Montreal when its postal-site bid was rejected, according to a real-estate consultant. "They [Kevlar] probably invested a lot of time, money and energy in their building proposal, which they thought was the best," said a source familiar with the project. "Then Canada Lands turned around and said, 'We'll develop the site.' " Print Edition - Section Front Enlarge Image More Front Page Stories Couillard pushed Quebec City project to Tories after firm lost Montreal bid About the same time, Kevlar was bidding on another federal project worth about $30-million for a building in Quebec City to house 750 bureaucrats. In the House yesterday, the Opposition expressed clear concerns that the company used Ms. Couillard to infiltrate the government in an attempt to ensure it would win that contract. Ms. Couillard was finishing her training as a real-estate agent at the time, and had obtained an affiliation with the firm's real-estate branch. In the spring of 2007, she started dating, in succession, two senior Conservative officials: Public Works adviser Bernard Côté and industry minister Maxime Bernier. According to senior federal officials, Ms. Couillard directly discussed Kevlar's bid in Quebec City with Mr. Bernier and Mr. Côté. Mr. Bernier has since resigned after classified documents were left in April at the home of Ms. Couillard, who had lived with two men with ties to the Hells Angels in the 1990s. Mr. Côté resigned this week after telling his superiors about Ms. Couillard's lobbying efforts and acknowledging he should have recused himself from the file to avoid the appearance of a conflict of interest. As The Globe and Mail reported yesterday, Kevlar co-chair Philippe Morin introduced Ms. Couillard and Mr. Bernier to one another in April in a restaurant in Montreal. A source added yesterday that Mr. Bernier and Mr. Morin might have known one another through their respective involvement in a group called the Young Presidents' Organization. Mr. Morin is the son of a well-known book publisher in Quebec. Kevlar officials refused repeated requests for comment yesterday, and did not expand on their previous statement that their link to Ms. Couillard was simply related to her real-estate licence. In the House of Commons, the Liberals accused Ms. Couillard of attempting to "infiltrate the Conservative government." "She tried to influence real-estate contracts at Public Works," said Montreal Liberal MP Marlene Jennings. According to news reports, Kevlar was founded by president René Bellerive in 1996, with Mr. Morin becoming a partner in 1999. The firm has acquired and built a number of commercial buildings and condominiums in Montreal and Quebec City, often with other financial partners. Kevlar and its owners have also donated thousands of dollars to federalist and separatist parties, in Ottawa and Quebec City, with the first recorded pledge to the Conservative Party, for $1,000, coming in the months after the Tories were elected to office. The government did not directly address the opposition's concerns in the House yesterday, except to say there has been no decision on the Quebec City project, on which Kevlar is one of about two dozen bidders. Conservative House Leader Peter Van Loan accused the opposition of wasting time by holding a parliamentary inquiry into the matter. "It is about finding sordid stories that can make for good news for those who are into gossip and that sort of stuff, but it is not about the important questions of public policy," he said. Regarding the Montreal project, Kevlar submitted an initial $25-million bid for the site in 2006. After several extensions to conduct due diligence, the firm submitted a lowered offer for the property on Feb. 28 of last year. Kevlar's deal fell through when Canada Lands matched its $18-million offer. "The company that bid on the site put in an offer, and we matched it," said Gordon McIvor, vice-president of Canada Lands.
  4. January 11, 2009, 10:00 pm What Will Save the Suburbs? For a long time now I’ve been obsessed with suburban and exurban master-planned communities and how to make them better. But as the economy and the mortgage crisis just seem to get worse, and gas prices continue to plunge, the issues around housing have changed dramatically. The problem now isn’t really how to better design homes and communities, but rather what are we going to do with all the homes and communities we’re left with. In urban areas, there’s rich precedent for the transformation or reuse of abandoned lots or buildings. Vacant lots have been converted into pocket parks, community gardens and pop-up stores (or they remain vacant, anxiously awaiting recovery and subsequent conversion into high-end office space condos). Old homes get divided into apartments, old factories into lofts, old warehouses into retail. Projects like Manhattan’s High Line show that even derelict train tracks can be turned into something as valuable to citizens as a vibrant public park. A brownfield site in San Francisco has been cleaned up and will house an eco-literacy center for the city’s youth. Hey, even a dump (Fresh Kills, on Staten Island) is undergoing a remarkable metamorphosis into a recreation area. But similar transformation within the carefully delineated form of a subdivision is not so simple. These insta-neighborhoods were not designed or built for flexibility or change. So what to do with the abandoned houses, the houses that were never completed or the land that was razed for building and now sits empty? Lands cleared to make way for houses that were not (and may never be) developed. (DigitalGlobe, Sanborn, GeoEye, U.S. Geological Survey; 2008 Google Imagery) Cover of Julia Christensen’s “Big Box Reuse.” Take as an analogous example their symbiotic partner, the big box store. As I learned in artist Julia Christensen’s new book, “Big Box Reuse,” when a big box store like Wal-mart or Kmart outgrows its space, it is shut down. It is, apparently, cheaper to start from scratch than to close for renovation and expansion, let alone decide at the outset to design a store that can easily be expanded (or contracted, as the case may be). So not only does a community get a newer, bigger big box, it is also left with quite an economic and environmental eyesore: a vacant shell of a retail operation, tons of wasted building material and a changed landscape that can’t be changed back. The silver lining in Christensen’s study are the communities she’s discovered that have proactively addressed the massive empty shells they’ve been left with, turning structures of anywhere from 20,000 to 280,000 square feet into something useful: a charter school, a health center, a chapel, a library. (And, in Austin, Minn., a new Spam Museum.) The repurposing of abandoned big-box stores is easier to wrap one’s head around: one can envision within a single volume (albeit a massive one) the potential to become something else. But exurban communities are a unique challenge. The houses within them are big, but not generally as big as, say, Victorian mansions in San Francisco that can be subdivided into apartments. So they’re not great candidates for transformation into multi-family rental housing. I did visit a housing development last year that offered “quartets,” McMansions subdivided into four units with four separate entrances. These promised potential buyers the status of a McMansion with the convenience of a condominium, but the concept felt like it was created more to preserve the property values of larger neighboring homes than to serve the needs of the community’s residents. There has been a nationwide shift toward de-construction (led by companies like Planet Reuse and Buffalo Reuse, the surgical taking-apart of homes to salvage the building materials for reuse, but often the building materials used in these developments aren’t of good enough quality to warrant salvaging. I don’t have the perfect solution for how to transform these broad swaths of subdivisions, and while I’ve heard much talk of the foreclosure tragedy, I’ve heard nary a peep about what to do about it. A recent article in The Times spotted an emerging trend of kids usurping the abandoned pools of foreclosed homes for use as temporary skate parks. (Interestingly, this was big in the ‘70s, as you can see by watching the rad skate documentary “Dogtown and Z-Boys.”) It’s a great short-term strategy for adolescent recreation (and for ridding neighborhoods of fetid pools, which often harbor West Nile virus), though it’s not a comprehensive solution to the problem of increasingly abandoned, ill-maintained and more dangerous streetscapes. But there are some interesting avenues to be pursued. Part of President-elect Obama’s proposed massive public works program, for example, is to be dedicated to clean tech infrastructure. Included in this is the intent to weatherize (that is, make energy-efficient) one million low-income homes a year. One can already see how those in the construction industry can begin to make the shift from new construction to home retrofitting. It’s the centerpiece of “The Green Collar Economy: How One Solution Can Fix Our Two Biggest Problems,” the best-selling, Al Gore- and Nancy Pelosi-endorsed book by environmental activist Van Jones. Though we hear a lot in the news about new LEED (Leadership in Energy and Environmental Design/) buildings and incentives for implementing the latest green technology, it’s often the case that fixing leaks and insulation are just as effective in reducing the carbon footprint of single-family homes (which account for about 18 percent of the country’s carbon footprint). As people increasingly stay put — and re-sell homes less — this retrofit strategy makes sense. Millions of homes, not just low-income ones, are in need of the sort of weatherization the Obama plan describes. The non-profit Architecture 2030, established in 2002 in response to the global warming crisis, is leading a major effort in this arena with the goal of dramatically reducing greenhouse gas (GHG) emissions of the building sector by changing the way buildings and developments are planned, designed and constructed. And after decades of renovation-obsession that has simply gotten out of hand, it seems a prudent time to swap Viking ranges for double-paned windows and high-efficiency furnaces. It’s the perfect moment to fix what we’ve got. Despite their currently low numbers, green homes typically re-sell for more money than their conventional counterparts. I still dream that some major overhaul can occur: that a self-sufficient mixed-use neighborhood can emerge. That three-car-garaged McMansions can be subdivided into rental units with streetfront cafés, shops and other local businesses. In short, that creative ways are found not just to rehabilitate these homes and communities, but to keep people in them. __________________________________________________________ “The Ponzi State” New Yorker, February 9, 2009, p. 81 ABSTRACT: A REPORTER AT LARGE about Florida’s real-estate market and the economic downturn. Writer visits a number of inland real-estate developments near Tampa, Florida. Developers there dreamed up instant communities, parceled out lots, and built look-alike two-story beige and yellow houses. The houses sold to some of the thousand or so people who moved to Florida every day. Now many are ghost subdivisions. In one community, Twin Lakes, property values dropped by more than a hundred thousand dollars in the past two years. Writer interviews Angie Harris, a Navy veteran and mother of five, who says of her neighbors, “It used to be people would wave. Now they don’t.” In another community, Hamilton Park, the writer interviews a woman named Lee Gaither, whose only income came from Disability payments. She was facing eviction and planned to sell many of her possessions on eBay. Florida is one of the places where the financial crisis began. Gary Mormino, a professor at the University of South Florida in St. Petersburg, tells the writer that, “Florida, in some ways, resembles a modern Ponzi scheme. Everything is fine for me if a thousand newcomers come tomorrow.” The state depends for revenue on real-estate deals and sales taxes. By 2005, the housing market in Florida was hotter than it had ever been. Flipping houses and condominiums turned into an amateur middle-class pursuit. Writer tells about Floridians with modest incomes who made money buying and selling real estate. Mentions one case in which a house appreciated in value by almost fifty per cent overnight. According to an investigation by the Miami Herald, government oversight of the real-estate market was so negligent that more than ten thousand convicted criminals got jobs in the mortgage industry. Flipping and fraud burst the bubble. But in places like Pasco County, it was the ordinary desire of ordinary people to buy their own home that turned things toxic. Tells about Anita Lux, who moved to Florida from Michigan with her husband, Richard. Gives a brief history of Cape Coral, Florida, which was first developed in the fifties by two businessmen from Baltimore. Writer interviews a number of Florida residents who have lost their jobs or homes. A Fort Myers real-estate agent named Marc Joseph tells the writer, “Greed and easy money. That was the germ.” By last year, the highest foreclosure rate in the country could be found in Fort Myers and Cape Coral. Mentions other indicators of the economic hard times, including the closure of auto dealerships and the theft of copper. Writer visits the office of Tampa’s mayor, Pam Iorio, who is determined to build a light rail system to revive the city’s fortunes. A number of people in Florida told the writer that the state needs a fundamental change in its political culture.
  5. http://www.montrealgazette.com/business/Saputo+cent+stake+Life+building+reports/10195809/story.html Ivanhoe Cambridge, the real-estate arm of the Caisse de dépôt et placement du Québec, apparently has found a buyer for the 50 per cent stake in the Sun Life building that it put on the market earlier this year. Published reports Thursday identified the buyers as Montreal’s Saputo family and partners, and the transaction price at $140 million. The Caisse’s real-estate division reportedly acquired its stake for $64 million. Ivanhoe Cambridge has shared ownership of the Metcalfe St. building with insurer Sun Life since 2000. © Copyright © The Montreal Gazette
  6. http://www.montrealgazette.com/business/Obituary+David+Azrieli+touched+many+parts+society/10014707/story.html By Paul Delean, THE GAZETTE European-born David Azrieli, who fled the Nazis as a teenager, fought in the 1948 Arab-Israeli war and then found fortune in Canada, died Wednesday at age 92. According to Forbes magazine, the Montreal-based real-estate developer and businessman was one of the richest Canadians with an estimated worth of $3.1 billion. He also was one of the most generous, contributing more than $100 million to philanthropic causes around the world, many of them in the fields of medical research, education and the arts. “It’s a great loss,” said Susan Laxer, president of local Jewish organization Federation CJA. “He literally changed the landscape in Israel with his office towers and architecture, and with his philanthropy, he touched many parts of our society and community. Through his legacy, he’ll continue to touch the lives of many people.” Norma Joseph, professor of religion and associate-director of the Azrieli Institute of Israel Studies at Concordia University, described him as “a formidable person, very strong-minded. And he used his mind for a wonderful vision of community and building.” The institute got its start in 2011 with funding provided by the family foundation, “but he did more than give money. He also gave his personal time and effort,” Joseph said. Born into a Jewish family in Poland, Azrieli escaped ahead of the Nazi occupation and kept moving, winding up in British Mandate Palestine in 1942. He studied architecture at Technion-Israel Institute of Technology and fought in Israel’s war of independence before settling in Canada in 1954. In a rare 1973 interview with the Montreal Star, he said he arrived here with no family connections and “literally, penniless.” “Nobody gave me anything,” he said. After earning a Bachelor of Arts degree from the Université de Montréal and working at a number of jobs, he had enough saved for his first solo project in 1957, construction of four duplexes on vacant lots he purchased in Ville D’Anjou. It was the start of a real-estate juggernaut that would eventually include thousands of apartment units, office buildings and shopping centres in Canada, the U.S. and Israel. Among his local holdings is the downtown Dominion Square Building housing The Gazette, acquired for $78.25 million in 2005, and the Sofitel Hotel. The Azrieli Group also held interests in companies active in the fields of energy, water and finance. He remained its chairman until last week when daughter Danna succeeded him, a move prompted by his medical condition. A sometimes controversial figure, Azrieli made headlines in the 1970s when he razed the former Van Horne Mansion on Sherbrooke St. and erected a 17-storey office tower on the site. In 1984, he sued The Gazette for libel over an editorial about a local development, but lost. “From the times of the pyramids to those of the skyscrapers, the works of architects and builders have been monuments to their glory or to their shame,” Superior Court Judge Paul Reeves said. “They build before the public eye and the public rightfully says whether it likes or dislikes what it sees.” In his later years, Azrieli split his residency between Israel and Westmount. “I have two homelands,” he once said, “two places that I love and where I have been blessed to do what I love best.” Active in and supportive of Jewish causes throughout his lifetime, he served as president of the Canadian Zionist Federation and in 2008 authored a book called Rekindling the Torch: The Story of Canadian Zionism, which told the story of the contribution of Canadian Jews and non-Jews to establishment of the state of Israel and their continuing support for the country. He also made Holocaust remembrance a personal crusade after it took from him two siblings and both parents. “This is my vision, to be able to use the tangible rewards of my career in building and construction to create a legacy for education and educational institutions in both of my homelands,” he said. A recipient of the Order of Canada, Azrieli also was a “chevalier” of the Ordre National du Québec. Married for 57 years to Stephanie Lefcort, he had four children: Rafael, Sharon, Naomi and Danna. He died surrounded by family at his country home in Ivry-sur-le-Lac, Que. [email protected]
×
×
  • Create New...
adblock_message_value
adblock_accept_btn_value