From the Globe and Mail:

Loblaw Cos. Ltd. is preparing to create what it says will be one of Canada’s largest real estate investment trusts.

The Toronto-based grocery giant says it wants to unlock value for shareholders and maximize the value of its real estate portfolio by establishing a REIT that will go public by the middle of 2013.

Loblaw estimates that it will initially contribute real estate with a current market value exceeding $7-billion to the REIT and wants to keep a significant majority interest in the REIT.

“The creation of the REIT is expected to build long-term value both for Loblaw and the REIT,” Loblaw chairman Galen Weston said in a news release Thursday.

Read more: http://www.theglobeandmail.com/globe-investor/loblaw-set-to-create-one-of-canadas-largest-reits/article6017572/

At a Glance: Loblaw in B.C.

• Over 50 properties in B.C. with an assessed value of $870 Million
• 24 properties in Metro Vancouver
• Superstore on Marine Drive assessed value of $83 Million

With hotel plan gone, Onni favours offices.

At first it was going to be a hotel, then the plan was to build an office tower.

Now Port Moody residents will get their say on a major development slated for the Suter Brook site at an upcoming public hearing.

The Onni Development Corp. has applied for a land-use contract amendment that would allow the company to build a nine-storey office tower at 220 Brew St., on the south side of Suter Brook Way where it meets Ioco Road.

North Shore Outlook – DNV votes to downsize proposed Seylynn tower.

A 32-storey tower is too high for District of North Vancouver council, but 28 floors will likely be just fine.

On Dec. 4,  district council voted to scale down a tower proposed for the Lower Lynn area by four floors to 28 storeys, if the development is eventually approved.

If the plan does go ahead, the neighbourhood near Capilano University will be transformed by a 790-unit development with three other mixed-use buildings, ranging in height from six to 28 storeys.

Read more: http://www.northshoreoutlook.com/news/182267251.html

The Tri-City News – Highest tower in Coquitlam offers too little parking, says council.

A proposal for a 43-storey tower in Coquitlam’s Town Centre raised eyebrows at Monday’s council meeting, but it wasn’t because of the neck-craning height of the building.

At 43 storeys, the Metropolitan 3 (M3) will be the highest building in Coquitlam. Other buildings in the Cressey project include the Metropolitan 1 (M1) at 27 storeys and the Metropolitan 2 (M2), which is under construction and will be 25 storeys.

But despite the big numbers, council members weren’t focusing on how high the tower would rise but on what’s missing down below: parking.

Read more: http://www.tricitynews.com/news/182089551.html