Legion up for redevelopment.

The building that houses Legion Branch No. 148 is up for redevelopment, and if it goes through, could still have room for the Heights Legion.

It was the only option for the beleaguered Legion, according to president Dave Taylor, which has suffered financially due to changes to B.C.’s smoking and drinking laws, and increasing property taxes.

City sends Harbourside to hearing.

The controversial Harbourside development south of the North Shore Automall will go to an official public hearing in June following a Monday night decision by City of North Vancouver council.

Council voted 5-2 in favour of moving the project forward to a formal official community plan amendment process, after the developers made changes to the original plan and council gathered public feedback in March.

Three downtown Vancouver towers to focus on rental units over market condos.

 

Aquilini Developments says a three-highrise tower development near Rogers Arena ‘is probably the largest rental project [in Vancouver] in the last 30 years.’

Three new highrise towers planned beside Rogers Arena will feature several hundred rental units as their residential component instead of condominiums.

“It’s in the heart of the downtown core and we thought it would be a great rental project,” said David Negrin, president of Aquilini Developments and Construction, on Wednesday. “We’re taking some risk, but feel there’s a real requirement for rentals in downtown Vancouver.”

Read more: http://www.vancouversun.com/business/Three+downtown+Vancouver+towers+focus+rental+units+over+market+condos/6704420/story.html#ixzz1wPqwhw3x

Dolphin Cinemas building up for redevelopment.

The building that houses Burnaby’s popular Dolphin Cinemas is up for redevelopment.

The rezoning application for the development came before Burnaby council at Monday night’s meeting.

The Bank of Nova Scotia’s iconic tower in Downtown Toronto has sold to a partnership between Dundee Real Estate Investment Trust and H&R REIT for a record $1.27 billion which represents $640 per square foot and a 5.2% cap rate.  The property is 61% leased to the Bank of Nova Scotia for 13.5 years and will be financed by a 7 year mortgage bond at 3.45%.

Courtesy of The Globe & Mail (http://www.theglobeandmail.com/globe-investor/landmark-scotia-plaza-sold-for-record-127-billion/article2440355/)