Peace Arch News – Foes, supporters out in force for White Rock development.

Residents for and against a 12-storey project proposed for Vidal Street packed White Rock city hall to overflowing Monday.

Of the nearly two dozen who spoke, more than half – including a number who currently call the site home and the project’s architects – voiced support, describing the concrete residential complex as an attractive, responsible one that will help revitalize the city.

“This is the kind of project that will put White Rock on the map,” said Judy Tallas. “This building will be the prototype for future projects… a project that will set a precedent for White Rock’s growth.”

Opponents argued its height and density are inappropriate for the neighbourhood, and cited impacts to views, property values and a lack of infrastructure.

Read more: http://www.peacearchnews.com/news/205684661.html

Loblaw Cos. Ltd., Canada’s largest food retailer, reported a 40-per-cent increase in first-quarter profit and said it plans to compete the initial public offering of its real estate investment trust (REIT) in early to mid-July.

The company, majority-owned by George Weston Ltd., also raised its quarterly dividend by 9 per cent to 24 cents per share. This was the second time in six months that the company raised its dividend.

Loblaw, which also sells clothing, footwear and drugs, reiterated its outlook for 2013 despite increasing competition.

U.S. discount retailer Target Corp. opened its first three Canadian stores in March and plans to have more than 100 by the end of this year.

Read more: http://www.theglobeandmail.com/report-on-business/loblaws-7-billion-reit-offering-planned-for-july/article11649029/