The former Central Library Branch at 850 Ouellette Ave. has officially hit real estate listings.
After years of searching for a buyer, the city eventually entered into an agreement with The Downtown Mission to sell the space for $3.6-million in 2019.
The mission backed out before officially closing the deal due to fundraising issues and flipped the building at the same price to a private investor in February of this year.
Executive Direct Ron Dunn told AM800 News the investor also made a donation to The Downtown Mission as part of the purchase.
Tim Campbell of Century 21 Teams & Associates Ltd. declined to comment on who the private investor is, but did confirm the 100,000 sq.ft. building is for lease and the owners will build to suit.
Artist rendition of the rear entrance to the former Central Library Branch of the Windsor Public Library at 850 Ouellette Ave. April 29, 2020 (Photo via/www.royallepagebinder.com)
He says the plan is to create a multi-use space to attract commercial and medical offices to go along with some retail and a gym.
According to the listing, the basement is being leased for $8 per sq.ft. the main floor’s at $20 per sq. ft. and the second floor at $15 per sq. ft.
Campbell says an official release will be sent out with further details in the coming weeks.
Artist rendition of the north side to the former Central Library Branch of the Windsor Public Library at 850 Ouellette Ave. April 29, 2020 (Photo via/www.royallepagebinder.com)
Douglas Todd: China's real-estate investors down on Vancouver, but not out – Vancouver Sun
Huawei CEO Meng Wenghzou must stay under mansion arrest following this week’s court decision in Vancouver. China’s authorities rage, while continuing to unfairly jail Michael Spavor and Michael Korvig and drastically cut imports of Canadian canola.
Rival ethnic Chinese groups clash in the streets of Vancouver over Beijing’s clampdown on Hong Kongers’ freedoms. COVID-19 kills more than 6,800 across Canada and lockdown virtually ends international travel, sending home many of China’s foreign students, especially from Toronto and Vancouver.
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China-Canada relations are at their lowest ebb in decades, particularly according to China’s pervasive regime-backed media outlets, which this week called Canada a “pathetic clown.”
And that has implications for Metro Vancouver’s housing market.
This region of 2.6 million is feeling the impact of soured relations with China, even while polling suggests the city continues to retain some of its traditional allure to the world’s most populous country as a desirable place to experience and invest in.
Ontario Real Estate Association hands down new guidelines as folks begin looking back into housing market – Barrie 360 – Barrie 360
While officials are expecting the Canadian housing market to take a real hit because of the COVID pandemic, Ontario realtors are still taking steps to protect those who want to buy or sell a home.
The Ontario Real Estate Association (OREA) has issued a series of guidelines to protect the health and safety of not just those in the market to buy or sell, but the realtors doing the deals too.
Most home showings have been done virtually since the emergency was declared in Ontario, and the OREA says that should become standard practice for now. Documents, forms, and acknowledgments should be processed electronically according to these guidelines. The OREA asks that physical home showings should be preceded by thoroughly disinfecting surfaces, and a physical distance should be maintained while interacting with clients directly. The OREA asks that personal protective equipment be used when distancing isn’t possible. A complete list of the OREA’s recommendations can be found on its website.
Now that the Ontario Government has announced a phased reopening, the OREA feels many consumers are looking to get back into the market in person. “The health and safety of our Realtors and their clients is OREA’s top priority during this pandemic,” says Sean Morrison, President of OREA. “As Ontario’s economy reopens, many Ontarians are looking to get back into the real estate market. Realtors are here to help make home buyers and sellers feel comfortable and safe while they work to find their dream home. OREA’s guidelines have been informed by up-to-date information from public health, best practices from the industry and experiences in jurisdictions across North America.”
RELATED: HOUSING MARKET TO BE HIT HARD BY COVID PANDEMIC THROUGH TO THE END OF 2022, ACCORDING TO CMHC HOUSING OUTLOOK
On Wednesday, the Canadian Mortgage and Housing Corporation released a housing market outlook that shows the impacts of COVID-19 will be felt on the industry right through to the end of 2022. Housing starts, sales, and prices within Ontario will be more impacted than some, including B.C. and Quebec, but less than those of oil-dependent Alberta or Saskatchewan.
Quebecers love the 'burbs, real estate poll suggests – Montreal Gazette
A survey conducted by the RE/MAX Québec real estate firm suggests that 46 per cent of respondents — particularly those with young children — could see themselves buying a home in the suburbs.
The poll, carried out just as the effects of the COVID-19 outbreak were beginning to be felt across Quebec, found that 28 per cent would like to settle in the city while 21 per cent preferred the country.
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Among potential sellers, the Léger poll found 58 per cent would put their homes on the block to move somewhere with more land, while 55 per cent would do so for a larger home.
A large proportion of respondents ages 55-64 would sell in order to move to a less expensive home.
RE/MAX Québec vice-president Sylvain Dansereau said the polling dates were not changed despite the health crisis, adding that a second phase of the survey will be carried out this autumn to measure the effects of the outbreak on the real estate buying and selling preferences of Quebecers.
Quebec’s real estate industry received government authorization to resume operations on May 11.
The poll was conducted March 17-29 with 1,400 respondents in six regions of Quebec and has a 2.6-per-cent margin of error 19 times out of 20.
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