Daniel Arbour is the Daniel Arbour to the vice-president, major projects at Montreal’s Groupe MACH. (Courtesy Groupe MACH)
Montreal-based real estate developer, owner and operator Groupe MACH has appointed engineer and urbanist Daniel Arbour to the position of vice-president, major projects.
Considered a pioneer in modern urban planning and championing Québec expertise in that field across the globe, Arbour was one of MACH’s very first patrons. Until recently, he was senior partner at architectural firm Lemay,dealing mainly with major urban projects in Québec and Asia.
Previously to that, he had founded Daniel Arbour and Associates, which was eventually acquired by Lemay.
At MACH, Arbour will lead the development of major mixed-use projects, including the Quartier des lumières in Montréal.
He will take his post Sept. 8.
“We are very happy to welcome Daniel to the MACH family,” said Vincent Chiara, president of MACH, in a release. “His arrival at MACH feels like a perfect fit. We share a common vision and the same desire to innovate. Moving forward, his invaluable expertise and remarkable managerial talent will be real assets for our current and future major projects.”
Jackson managing director at Colliers Toronto
Colliers International (CIGI-T) has hired Jamie Jackson as managing director of the office practice group in the Greater Toronto Area.
Jackson’s diverse career reflects the broad skillset he brings to Colliers.
Most recently, Jackson was director of financial services for Iron Mountain, creating and selling multi-million-dollar technology solutions for major banks, insurers and law firms, while overseeing teams of account managers, sales representatives and support teams.
In this role, he was recipient of the firm’s achievement in sales awards in 2016 and 2017.
Prior to this, he was CEO of Fundraising Initiatives North America Inc., leading 500-plus staff during a period of rapid development that resulted in more than 100 per cent revenue growth.
“We’re excited to have Jamie as part of our leadership team where he will bring in new ideas and drive business development,” says Daniel Holmes, executive managing director of Colliers GTA.
“Jamie has an impressive track record of achieving substantial revenue increases, while doing so with a commitment to excellent client service.”
Sullivan joins Epic board
Toronto-based Epic Investment Services has appointed Kevin Sullivan to its board of directors. He is the board’s first independent director and his appointment expands the board to five members.
“(Sullivan’s) 25 years of experience in investment management and established relationships in the capital market industry will be a great complement to our board’s skills and experience as we execute our growth strategy and create value for our clients,” said Jeff Kohn, chair and co-CEO of Epic Investment Services, in the announcement.
Sullivan was president of KMS Capital Ltd., a Toronto-based advisory firm.
Previously, Sullivan was at GMP Capital since its inception, serving as president and as CEO. He oversaw the creation and growth of GMP Securities and Richardson GMP, a leading Canadian independent investment dealer and wealth management firm, respectively.
He also helped facilitate GMP’s IPO and oversaw its growth from a market capitalization of $300 million to over $1 billion within a seven-year period.
Prior to GMP, he spent three years in the European capital market and was also a lawyer in general practice in Calgary.
Lemay moves to Colonnade BridgePort
Joe Lemay is manager, investment management, at Colonnade BridgePort. (Courtesy Colonnade BridgePort)
Colonnade BridgePort has added Joe Lemay to its investment management team as manager, investment management. In the role, Lemay will lead the transaction management for new acquisitions and dispositions of assets on behalf of the owner.
Lemay moves to Colonnade BridgePort from a national institutional real estate management firm, where he worked on the acquisitions and disposition team. Prior to this he was an analyst in the valuation and advisory department at Altus Group.
Jackson holds two bachelor of commerce degrees, one in finance and the other in entrepreneurship, from the University of Ottawa. Also, he is a candidate member of the Appraisal Institute of Canada.
Three new board members at Minto
Minto Group has appointed three new members to its board of directors. Floriana Cipollone, Gabriel Greenberg and Rachel Greenberg have joined the board of the privately held company.
Cipollone is the chief financial officer of MCAN Mortgage Corporation and previously CFO of Plaza REIT. She brings over 30 years of financial experience to the table including mergers and acquisitions, capital markets, corporate governance and risk, and investor relations.
Gabriel Greenberg is a corporate director of the Greenberg Family Enterprise. Before joining Minto’s board, he spent his career in the banking and real estate management industries in both Canada and the U.S.
Rachel Greenberg continues to work for the Greenberg Family Enterprise, most notably driving the creation of a philanthropy strategy for the third generation of the family.
Freed names Jiwa manager of investments
Imran Jiwa has been named the manager of investments at Freed Developments in Toronto.
Jiwa was most recently involved in real estate asset and investment management at Lux Equity, where he worked for over four years.
He also held a role in in asset management and operations, with a focus on seniors living at Metta Lifestyles, and spent a year as asset manager at Impact Equity.
He is also an executive board member at the Ontario Retirement Communities Association.
Graham will stay on for up to three months to assist with the transition. He will remain a Horizon North director until the next annual meeting as part of the transition plan.
“Mr. Graham was a key contributor in the completion of the Horizon North and Dexterra transaction and in the initial post transaction integration efforts,” said board chair Bill McFarland in the announcement.
“The board and Fairfax Financial Holdings Limited remains fully committed to all three lines of business at Horizon North. All parties agree that one leader and one voice is in the best interests of the corporation at this time as we create a world-class platform and organization.”
John MacCuish will become CEO, with continued leadership as president of the facilities management business.
Mark Becker becomes COO and will be involved in the modular solutions transition and continue to lead as president of the workforce, accommodation, forestry and energy services business.
TORONTO – The Toronto Regional Real Estate Board says home sales in October surged as buyers continued moving off the sidelines amid lower interest rates.
The board said 6,658 homes changed hands last month in the Greater Toronto Area, up 44.4 per cent compared with 4,611 in the same month last year. Sales were up 14 per cent from September on a seasonally adjusted basis.
The average selling price was up 1.1 per cent compared with a year earlier at $1,135,215. The composite benchmark price, meant to represent the typical home, was down 3.3 per cent year-over-year.
“While we are still early in the Bank of Canada’s rate cutting cycle, it definitely does appear that an increasing number of buyers moved off the sidelines and back into the marketplace in October,” said TRREB president Jennifer Pearce in a news release.
“The positive affordability picture brought about by lower borrowing costs and relatively flat home prices prompted this improvement in market activity.”
The Bank of Canada has slashed its key interest rate four times since June, including a half-percentage point cut on Oct. 23. The rate now stands at 3.75 per cent, down from the high of five per cent that deterred many would-be buyers from the housing market.
New listings last month totalled 15,328, up 4.3 per cent from a year earlier.
In the City of Toronto, there were 2,509 sales last month, a 37.6 per cent jump from October 2023. Throughout the rest of the GTA, home sales rose 48.9 per cent to 4,149.
The sales uptick is encouraging, said Cameron Forbes, general manager and broker for Re/Max Realtron Realty Inc., who added the figures for October were stronger than he anticipated.
“I thought they’d be up for sure, but not necessarily that much,” said Forbes.
“Obviously, the 50 basis points was certainly a great move in the right direction. I just thought it would take more to get things going.”
He said it shows confidence in the market is returning faster than expected, especially among existing homeowners looking for a new property.
“The average consumer who’s employed and may have been able to get some increases in their wages over the last little bit to make up some ground with inflation, I think they’re confident, so they’re looking in the market.
“The conditions are nice because you’ve got a little more time, you’ve got more choice, you’ve got fewer other buyers to compete against.”
All property types saw more sales in October compared with a year ago throughout the GTA.
Townhouses led the surge with 56.8 per cent more sales, followed by detached homes at 46.6 per cent and semi-detached homes at 44 per cent. There were 33.4 per cent more condos that changed hands year-over-year.
“Market conditions did tighten in October, but there is still a lot of inventory and therefore choice for homebuyers,” said TRREB chief market analyst Jason Mercer.
“This choice will keep home price growth moderate over the next few months. However, as inventory is absorbed and home construction continues to lag population growth, selling price growth will accelerate, likely as we move through the spring of 2025.”
This report by The Canadian Press was first published Nov. 6, 2024.
HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.
Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.
Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.
The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.
Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.
They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.
The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.
This report by The Canadian Press was first published Oct. 24, 2024.
Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.
Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.
Average residential home price in B.C.: $938,500
Average price in greater Vancouver (2024 year to date): $1,304,438
Average price in greater Victoria (2024 year to date): $979,103
Average price in the Okanagan (2024 year to date): $748,015
Average two-bedroom purpose-built rental in Vancouver: $2,181
Average two-bedroom purpose-built rental in Victoria: $1,839
Average two-bedroom purpose-built rental in Canada: $1,359
Rental vacancy rate in Vancouver: 0.9 per cent
How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent
This report by The Canadian Press was first published Oct. 17, 2024.
