Rendering of Broccolini’s second major condo project in Toronto, LeftBank. (Courtesy Broccolini)
While Broccolini is preparing to launch sales for LeftBank, its second condominium in Toronto’s River District, the company has a number of other major projects at various stages in the Greater Toronto Area, Montreal and Ottawa.
The Montreal-based developer, construction and property management company has built more than 30 million square feet of commercial, industrial and residential space in Quebec and Ontario. Its real estate management subsidiary manages more than 40 properties, representing more than six million square feet of assets.
Broccolini has hired 50 people since the onset of COVID-19, and now has about 400 employees. It’s also looking to raise $300 million in private capital, in addition to the $600 million its earlier investment funds have accumulated.
“The appetite is there, the funds are there and we’re going to continue doing what we’re doing in terms of building and developing great things,” chief operating officer Anthony Broccolini told RENX. “We want to be the most sought-after builder and developer in Canada.
“We don’t want to be the biggest and we don’t want to be in every province. But wherever we are and whatever we’re doing, we want to be viewed as best in class.”
LeftBank in Toronto
LeftBank, a 34-storey, 385-unit condo at 91 River St. near Dundas Street East in the eastern part of downtown Toronto overlooking the Don River, was designed by IBI Group and The Patton Design Studio.
While the specific suite mix, size and price ranges haven’t yet been disclosed, LeftBank will include studio, one-bedroom, one-bedroom plus den, two-bedroom and three-bedroom units.
LeftBank’s Home by Broccolini technology package will employ a suite wall pad or smartphone app to enable tenants to watch guests arrive, access private amenity spaces and receive parcel arrival notifications. It also offers a digital door lock, a leak detector and upgrade features including lighting and blind controls.
The entire building will be outfitted with high-speed Internet.
LeftBank’s amenities will include: a south-facing terrace offering waterfront views; a parcel locker room; fitness studio; kids’ zone for children to play; tool annex; yoga studio with juice bar, zen garden and meditation room; co-working lounge; private theatre; gaming lounge; dining lounge; speakeasy; and a dog spa.
LeftBank will feature a linear park on its south side leading to the river and a nearby network of walking trails. River Street will be reimagined and animated with boutique shops facing widened, tree-lined sidewalks.
The walkable neighbourhood is already served by public transit, which will be further enhanced by the future East Harbour transit hub.
Sales for LeftBank will launch this fall. Broccolini would like to start construction early in 2021 and he anticipates a three-and-a-half-year build.
River & Fifth Condos
LeftBank will join Broccolini’s neighbouring River & Fifth Condos, a 37-storey building with 580 units ranging in size from 340 to 1,400 square feet.
While some suites in the Graziani + Corazza Architects Inc.-designed building have been held back, Broccolini said 85 per cent of the units have been sold.
Shoring is in and the goal is to get to the bottom of the underground parking level during the next few weeks, then be out of the ground early next year. May 2023 is the target completion date.
While LeftBank and River & Fifth Condos will differ architecturally to add diversity to the neighbourhood, Broccolini said “they’re going to complement one another in terms of building a community.”
New Ontario fulfillment centres for Amazon
On the Ontario industrial building front, Broccolini just delivered a 1.02-million-square-foot build-to-suit fulfillment centre for Amazon, on a site owned by Manulife at 6351 Steeles Ave. E. in Scarborough which was built in a year.
“We’re very proud of the speed, the schedule and the quality of that project,” said Broccolini. “From an industrial standpoint, we see ourselves as leaders in that market sector within Eastern Canada.”
Broccolini completed a 1.02-million-square-foot build-to-suit fulfillment centre for Amazon at 5525 Boundary Rd. in Ottawa in 2019. It is also the landlord and property manager for the facility, which employs more than 600.
Broccolini broke ground earlier this summer for what it says will be the largest fulfillment centre ever built in Canada, at the CITIGATE Corporate Campus in the Ottawa suburb of Barrhaven.
Amazon will occupy the 2.8-million-square-foot facility, which will have the capability to handle 100,000 packages a day. Broccolini will act as landlord and property manager for the building once it’s completed in the fall of 2021.
Montreal’s Victoria Square activity
“We have almost $1 billion under construction with three projects side-by-side,” Broccolini said of his company’s activity around downtown Montreal’s Victoria Square.
Rendering of the 58-storey Victoria sur le Parc tower in Montreal, being constructed by Broccolini. (Courtesy Broccolini)
It will feature a two-level cafeteria, a daycare, a fitness centre, 400 bicycle parking spaces, 80 charging stations for electric vehicles and an outdoor garden on the 40th floor. It will also be connected to Montreal’s Underground City (RÉSO) and have an adjacent 40,000-square-foot public park.
The building, which is targeting LEED v4 Gold and WELL certifications, is scheduled to be completed in spring 2023.
The neighbouring Victoria sur le Parc at 700 Saint-Jacques is a 58-storey condo launched in the fall of 2018. Its 400 suites will range in size from 480 to 4,000 square feet. It will also feature a nine-storey podium offering 330,000 square feet of commercial and office space.
Victoria sur le parc is Wired Certified by WiredScore and seeking a LEED Gold certification. It will include a direct link to the National Bank building and Victoria Square Metro station. Construction is at the ground-floor level and is scheduled for completion in 2023.
A 35-storey, 258-unit condo with ground-floor retail at 628 Saint-Jacques launched in the fall of 2017. Construction is up to the 14th floor and a 2021 completion date has been targeted.
Other Broccolini developments in Montreal
Broccolini recently delivered the 418,822-square-foot Maison de Radio-Canada to the public broadcaster, which signed a 30-year lease for the building at Papineau Avenue and René Lévesque Boulevard East.
Broccolini anticipates launching sales for a 25-storey condo with approximately 550 units at the corner of Guy Street and Sherbrooke Street West, the current site of a parking lot, next spring.
It will have one- and two-bedroom units as well as executive and penthouse suites on the upper floors. It will also feature a courtyard.
“We’re very proud of the project and I think it’s going to do a great job of fitting into the urban fabric of its environment,” said Broccolini.
Broccolini acquired a 50 per cent share of the 32-acre Centre RioCan Kirkland site on Montreal’s West Island from RioCan REIT in the fall of 2017. They’re going through the planning process for a mixed-use residential, retail and office complex that could have approximately 2,500 housing units adjacent to a new REM station.
Broccolini said his firm is still “bullish” on Montreal and has a couple of other projects it’s working on that he can’t yet discuss.
The company has an existing land bank and will continue to buy land in Quebec and Ontario to take through the entitlement process for future development, primarily industrial and residential, according to Broccolini.
MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.
Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.
Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.
She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.
The two brokers were suspended in May 2023 after La Presse published an article about their practices.
One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.
This report by The Canadian Press was first published Sept. 11, 2024.
MONTREAL – The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales rose 9.3 per cent in August compared with the same month last year, with levels slightly higher than the historical average for this time of year.
The association says home sales in the region totalled 2,991 for the month, up from 2,737 in August 2023.
The median price for all housing types was up year-over-year, led by a six per cent increase for the price of a plex at $763,000 last month.
The median price for a single-family home rose 5.2 per cent to $590,000 and the median price for a condominium rose 4.4 per cent to $407,100.
QPAREB market analysis director Charles Brant says the strength of the Montreal resale market contrasts with declines in many other Canadian cities struggling with higher levels of household debt, lower savings and diminishing purchasing power.
Active listings for August jumped 18 per cent compared with a year earlier to 17,200, while new listings rose 1.7 per cent to 4,840.
This report by The Canadian Press was first published Sept. 6, 2024.
In the quest to find cities where renters can enjoy the best of all worlds, a recent study analyzed 24 metrics across three key categories—Housing & Economy, Quality of Life, and Community. The study ranked the 100 largest cities in Canada to determine which ones offer the most to their renters.
Here are the top 10 cities that emerged as the best for renters in 2024:
St. John’s, NL
St. John’s, Newfoundland and Labrador, stand out as the top city for renters in Canada for 2024. Known for its vibrant cultural scene, stunning natural beauty, and welcoming community, St. John’s offers an exceptional quality of life. The city boasts affordable housing, a robust economy, and low unemployment rates, making it an attractive option for those seeking a balanced and enriching living experience. Its rich history, picturesque harbour, and dynamic arts scene further enhance its appeal, ensuring that renters can enjoy both comfort and excitement in this charming coastal city.
Sherbrooke, QC
Sherbrooke, Quebec, emerges as a leading city for renters in Canada for 2024, offering a blend of affordability and quality of life. Nestled in the heart of the Eastern Townships, Sherbrooke is known for its picturesque landscapes, vibrant cultural scene, and strong community spirit. The city provides affordable rental options, low living costs, and a thriving local economy, making it an ideal destination for those seeking both comfort and economic stability. With its rich history, numerous parks, and dynamic arts and education sectors, Sherbrooke presents an inviting environment for renters looking for a well-rounded lifestyle.
Québec City, QC
Québec City, the capital of Quebec, stands out as a premier destination for renters in Canada for 2024. Known for its rich history, stunning architecture, and vibrant cultural heritage, this city offers an exceptional quality of life. Renters benefit from affordable housing, excellent public services, and a robust economy. The city’s charming streets, historic sites, and diverse culinary scene provide a unique living experience. With top-notch education institutions, numerous parks, and a strong sense of community, Québec City is an ideal choice for those seeking a dynamic and fulfilling lifestyle.
Trois-Rivières, QC
Trois-Rivières, nestled between Montreal and Quebec City, emerges as a top choice for renters in Canada. This historic city, known for its picturesque riverside views and rich cultural scene, offers an appealing blend of affordability and quality of life. Renters in Trois-Rivières enjoy reasonable housing costs, a low unemployment rate, and a vibrant community atmosphere. The city’s well-preserved historic sites, bustling arts community, and excellent educational institutions make it an attractive destination for those seeking a balanced and enriching lifestyle.
Saguenay, QC
Saguenay, located in the stunning Saguenay–Lac-Saint-Jean region of Quebec, is a prime destination for renters seeking affordable living amidst breathtaking natural beauty. Known for its picturesque fjords and vibrant cultural scene, Saguenay offers residents a high quality of life with lower housing costs compared to major urban centers. The city boasts a strong sense of community, excellent recreational opportunities, and a growing economy. For those looking to combine affordability with a rich cultural and natural environment, Saguenay stands out as an ideal choice.
Granby, QC
Granby, nestled in the heart of Quebec’s Eastern Townships, offers renters a delightful blend of small-town charm and ample opportunities. Known for its beautiful parks, vibrant cultural scene, and family-friendly environment, Granby provides an exceptional quality of life. The city’s affordable housing market and strong sense of community make it an attractive option for those seeking a peaceful yet dynamic place to live. With its renowned zoo, bustling downtown, and numerous outdoor activities, Granby is a hidden gem that caters to a diverse range of lifestyles.
Fredericton, NB
Fredericton, the capital city of New Brunswick, offers renters a harmonious blend of historical charm and modern amenities. Known for its vibrant arts scene, beautiful riverfront, and welcoming community, Fredericton provides an excellent quality of life. The city boasts affordable housing options, scenic parks, and a strong educational presence with institutions like the University of New Brunswick. Its rich cultural heritage, coupled with a thriving local economy, makes Fredericton an attractive destination for those seeking a balanced and fulfilling lifestyle.
Saint John, NB
Saint John, New Brunswick’s largest city, is a coastal gem known for its stunning waterfront and rich heritage. Nestled on the Bay of Fundy, it offers renters an affordable cost of living with a unique blend of historic architecture and modern conveniences. The city’s vibrant uptown area is bustling with shops, restaurants, and cultural attractions, while its scenic parks and outdoor spaces provide ample opportunities for recreation. Saint John’s strong sense of community and economic growth make it an inviting place for those looking to enjoy both urban and natural beauty.
Saint-Hyacinthe, QC
Saint-Hyacinthe, located in the Montérégie region of Quebec, is a vibrant city known for its strong agricultural roots and innovative spirit. Often referred to as the “Agricultural Technopolis,” it is home to numerous research centers and educational institutions. Renters in Saint-Hyacinthe benefit from a high quality of life with access to excellent local amenities, including parks, cultural events, and a thriving local food scene. The city’s affordable housing and close-knit community atmosphere make it an attractive option for those seeking a balanced and enriching lifestyle.
Lévis, QC
Lévis, located on the southern shore of the St. Lawrence River across from Quebec City, offers a unique blend of historical charm and modern conveniences. Known for its picturesque views and well-preserved heritage sites, Lévis is a city where history meets contemporary living. Residents enjoy a high quality of life with excellent public services, green spaces, and cultural activities. The city’s affordable housing options and strong sense of community make it a desirable place for renters looking for both tranquility and easy access to urban amenities.
This category looked at factors such as average rent, housing costs, rental availability, and unemployment rates. Québec stood out with 10 cities ranking at the top, demonstrating strong economic stability and affordable housing options, which are critical for renters looking for cost-effective living conditions.
Québec again led the pack in this category, with five cities in the top 10. Ontario followed closely with three cities. British Columbia excelled in walkability, with four cities achieving the highest walk scores, while Caledon topped the list for its extensive green spaces. These factors contribute significantly to the overall quality of life, making these cities attractive for renters.
Victoria, BC, emerged as the leader in this category due to its rich array of restaurants, museums, and educational institutions, offering a vibrant community life. St. John’s, NL, and Vancouver, BC, also ranked highly. Québec City, QC, and Lévis, QC, scored the highest in life satisfaction, reflecting a strong sense of community and well-being. Additionally, Saskatoon, SK, and Oshawa, ON, were noted for having residents with lower stress levels.
For a comprehensive view of the rankings and detailed interactive visuals, you can visit the full study by Point2Homes.
While no city can provide a perfect living experience for every renter, the cities highlighted in this study come remarkably close by excelling in key areas such as housing affordability, quality of life, and community engagement. These findings offer valuable insights for renters seeking the best places to live in Canada in 2024.
