Pinnacle International‘s 2nd phase of their Broadway IGA site development moves to public hearing tonight. The project, at 2001 West 10th Avenue is a rezoning from M-1 to CD-1. The proposal is for a 7-storey residential building and a 6-storey residential building, with a childcare facility at grade, all over shared underground parking. The application proposes a total of 125 units, a density of 2.5 FSR, a building height of 74.5 feet and 183 parking spaces.

From the Globe and Mail:

Hudson’s Bay Co., whose third-quarter loss widened, will consider spinning off its valuable real estate into a real estate investment trust, borrowing a page from the playbook of grocery giant Loblaw Cos. Ltd.

“We’ve always believed that some time in the future we could have the opportunity … to create a REIT, similar to what Loblaw is proposing,” Richard Baker, the U.S. real estate magnate who controls HBC and is its governor (chairman) and chief executive officer, told an analysts’ conference call on Tuesday morning.

“It’s nice to be invested in a retailer that owns a lot of real estate and the type of real estate we w own would fit very nicely into a REIT.”

HBC isn’t working on a REIT plan currently, he added. “But it is something we often talk about and foresee some day in the future getting more involved in. “ Last week, Loblaw unveiled its intention to unlock its real estate value by setting up a REIT by mid-2013, prompting the grocer’s share price to surge. Loblaw will keep a more than 80-per-cent stake in the real-estate company, which is expected to own about $7-billion worth of property, most of it housing its supermarkets.

Read more: http://www.theglobeandmail.com/globe-investor/hbc-eyes-spinoff-for-real-estate-holdings/article6189388/

The December 5th Urban Design Panel meeting has two high profile projects on the agenda – Oakridge Centre and one of Aquilini’s arena towers which twice previously received unanimous design support.

View the meeting agenda HERE.