1952 Comox Street, a building known as “The Breakers” has sold to Hollyburn Properties for $16,350,000. The 10-storey, 61 unit building was built 1964.

La Maison Simons Inc. had been nestled in Quebec City for 159 years before fifth generation leader Peter Simons successfully expanded the retailer across the province.

But opening stores all the way to Vancouver is proving trickier for the president of the family-controlled business.

Simons is searching for prime locations in Toronto, Calgary, and Vancouver as a new wave of foreign chains chases the most attractive retail spaces. And the privately held company can’t tap into the markets to finance its heavy investments amid rising borrowing costs.

The retail institution well known in Quebec for its unique mix of cheap-chic private labels and pricier designer lines must make a name for itself west of the Ottawa River. Outside its home province, it operates only one store, at the West Edmonton Mall.

Read more: http://www.theglobeandmail.com/report-on-business/simons-crashes-canada-one-door-at-a-time/article14148615/

The Real Estate Board of Greater Vancouver have released August residential stats. Sales activity is up significantly over August 2012, while attendant price increases are modest at best. Here are a few highlights:

• Listings were down 8.8% from August 2012
• Sales were up 52.5% in August 2013 compared to August 2012.
• Single family benchmark pricing is up since January 2013 in almost all submarkets (except for secondary submarkets such as Sunshine Coast, Squamish and Bowen Island)
• Average prices are still down since August 2012 – for single family (-2.0%) and condos (-1.1%)

Source: REBGV stats

Stretch of Burnaby’s Hastings could get taller – Burnaby NewsLeader.

A stretch of the north side of Hastings Street could get taller now that a four-storey mixed use development is being proposed for three lots west of Macdonald Avenue.

A public hearing will be held Sept. 24 at 7 p.m. in Burnaby city hall council chambers for the application to rezone 3951, 3959 and 3975 Hastings St. which are currently home to older, one and two-storey commercial and mixed-use buildings, according to a city staff report.

The proposal, designed by Chris Dikeakos Architects [for Bosa], is for a project with commercial space on the ground and mezzanine levels with three stories of condominium apartments above. All parking would be underground with vehicle access from the rear lane.

To meet the requirements of the C8a Hastings urban village commercial district, the development would include a lighted pedestrian walkway within a statutory  right-of-way linking Hastings to the north.

And while the C8a zone restricts an individual user of a  ground-floor commercial space to a maximum building frontage of 66 feet, the report said city staff may support a future relaxation of the restriction for suitably-designed cafes, restaurants, food stores and retailers if needed.

Read more: http://www.burnabynewsleader.com/news/221662901.html