Andreas Nystrom’s Post

Value Add / End User Opportunity with Redevelopment Upside Unique opportunity to purchase a 11,867 square foot mixed-use retail building located near the intersection of Canada Way and Edmonds St in Burnaby’s Edmonds neighborhood. The property is in close proximity to Edmonds School Park and Community Centre in addition to transit hubs, restaurants and other community amenities. The 2 storey building currently has 13 units (3 commercial retail units (CRUs) and 10 office units). The 10,012 square foot lot also has a OCP designation allowing for a 4+ storey mixed-use development. At present, there are 10 parking stalls at the rear with one point of ingress and egress in addition to streetside parking at the front. Recent lease transactions support market rates of $25/SF/YR + in the Edmonds neighborhood. From a repositioning standpoint, one has an exceptional opportunity to increase market rents/rental income in order to add significant value. Lease provisions also allow for end-users to occupy a substantial percentage of the building, while benefiting from holding income/appreciation. $25/SF/YR + for retail & office in the Burnaby Submarket https://lnkd.in/g69zqUqF

How's this for an unique pivot? As brick-and-mortar locations become less important to retailers, Leon's Furniture is making the surprising shift into real estate. The Canadian turning the 40-acre lot of its main office in northern Toronto into a new HQ, but is adding upwards of 4,000 new homes. And the company has even hinted that more such development projects could be on the horizon. With the housing market as tight as it is, Toronto needs all the new housing it can get. What do you think? Would you live here? https://lnkd.in/d72v2Ksm

Wow, this is interesting news! Leon's, one of Canada's largest furniture retailers, is taking a bold step to unlock value from its real estate portfolio and help address the housing crunch in Ontario. The company owns 430 acres of land across Canada and plans to convert some of its vacant fields and parking lots into housing, warehouses, and offices. Recently, Leon's received planning approval to transform the area around its Toronto headquarters into a master-planned community that will welcome 4,000 new homes. This will include single-detached, mid-rise and high-rise projects as well as commercial and retail development. This venture reflects broader trends, with national and international retailers reevaluating land assets and looking to opportunities in development. What are your thoughts on this pivot? Read more about it here: https://lnkd.in/gF-3Kgvm #realestate #development #construction #housing #affordability #zoning #rezoning #urbanplanning

One of the biggest and most high-profile redevelopment projects in downtown Vancouver has undoubtedly been 800-876 Granville Street, which would have retained the historic Commodore Ballroom and popular Commodore Lanes bowling alley and seen a new commercial building reaching 17 storeys built atop the historical block. However, the developer of the project, Bonnis Properties, is no longer moving forward with the project, reported Storeys. "Unfortunately, the office market has really changed and the office demand is no longer there," Kerry Bonnis, who owns and operates Bonnis Properties with his brother Dino Bonnis, told STOREYS. "In the meantime, hard costs have gone up substantially, as have interest rates, and it's not possible to build such a property in today's market on spec. One would need to have office tenants in hand to basically move forward with the project and unfortunately the market rates have dropped significantly. Without having office tenants ready to occupy it, right now it doesn't make sense to move forward with the project." "Bonnis also said that although the project in its current form isn't moving forward, they will continue to explore new forms of the project." https://lnkd.in/dkmSD24u #vancouver #office #development

The transformation that the Eglinton Line 5 Crosstown LRT is bringing to Midtown Toronto is simply astounding. From its western terminus at Mount Dennis to its eastern terminus at Kennedy, tens of thousands of new residential units are planned along its route as part of a long list of master-planned communities, all of which are looking to transform the many under-utilized properties along Eglinton into complete transit-oriented neighbourhoods, reported UrbanToronto.ca. "One such property is SmartCentres’ Westside Mall, located at 2400 Eglinton West near Caledonia Road, where SmartCentres REIT, under its residential sub-brand SmartLiving, have big plans to establish a new transit-oriented community directly adjacent to the new Caledonia transit station." "The property is currently home to Westside Mall, a big box retail plaza housing several establishments including FreshCo and Canadian Tire. SmartCentres is planning to transform the existing retail plaza with a phased development that includes 8 new mixed-use residential towers ranging in height from 24 to 60 storeys and two new 8-storey residential mid-rises, along with a new public park proposed to be over one acre in size. In total, 4,045 residential units are planned, with a variety of local and large-format retail spread out across the podiums of the towers." https://lnkd.in/g5MnSqRj

𝗛𝗼𝘄 𝘁𝗼 𝗔𝘃𝗼𝗶𝗱 𝗮 “𝗭𝗼𝗺𝗯𝗶𝗲 𝗠𝗮𝗹𝗹” From apartment buildings rising in shopping centre parking lots to the redevelopment of dead-mall sites as housing, retail-to-residential conversions are an increasing trend that is seeing partial or complete “scrapes” make way for mixed-use ‘Life-Style Living’ communities. As online shopping becomes the norm, there has been a movement to transform shopping malls into residential communities. This trend is not just about building homes; it's about creating integrated neighborhoods where people can live, work, play, shop, and learn. In Welland, for example, Elevate Living's Warbler Place is a prime illustration. This project is converting a space near Seaway Mall, previously occupied by Target, into an urban village. The plan includes 1,300 dwelling units, with 700 in four high-rise buildings, some directly connected to the shopping center. This approach to higher-density living extends the property's activity to nearly 18 hours a day, fostering a vibrant community hub. In downtown Toronto, 'The Well' by Allied and Riocan is a highly anticipated project set to complete this year. Located on eight acres at Front Street and Spadina Avenue, it features six residential towers, an office building, and a multi-level mall. This development epitomizes the concept of modern urban living. The Greater Toronto Area is witnessing a surge in such projects, with 14 developments planned to create or enhance shopping center sites. In Brampton, Mississauga, and Toronto, approximately 200 residential buildings are proposed on the sites of older malls. This shift reflects a broader trend of population and employment migration, as municipalities strive to avoid the blight of 'zombie malls' and instead foster lively, integrated communities. Do you see an opportunity here? If you’re afraid of taking those first steps alone, learn how we can help you reach your financial goals through Passive Investing in real estate with us. At Paramount we’re not only a Real Estate Brokerage, we are solution providers. Take us up on a free 15 minute consultation. #paramountrealestategta #commercialrealestate #commercialopportunities

The Developer: ● EllisDon Developments ● Notable projects: The SkyDome, AGO, Markville Mall, Yorkdale Mall, York Schulich School of Business, Ivey Business School The Location: ● 80 Fieldway Road, Etobicoke (Bloor & Kipling) ● Located inside the designated Urban Growth Zone by the Province of Ontario, which aims to increase jobs by 205%, targeting 400 people and jobs per hectare by 2031 ● Only a 3-minute walk to Kipling Transit Hub and an 8-minute walk to Islington station ● Access to the Subway, Bus Terminal, GO train at Kipling Station ● Direct shuttle to Pearson Airport and Humber College at Kipling Station ● 8 minutes to Humber College ● Less than 25 minutes away from the University of Toronto, Toronto Metropolitan University, and Sheridan College ● Next to the future site of the Etobicoke Civic Centre About the Development: ● A master-planned community comprised of 4 towers ranging from 12-42 storeys, boasting over 1,300 suites ● 14,000 sq.ft. of commercial retail space ● 26,000sq.ft. of designated park space About the Building: ● Phase 1: 80 Fieldway Road, 34-storeys, 405 suites ● Studio to 3-bedroom options, ranging from 422 - 1,084sq.ft. ● Over 62,000 sq.ft. of amenity space, called ‘the Arcadia Club’ ● As part of an exclusive partnership, a complete collection of SMEG luxury appliances will be featured in all suites, marking the first partnership of its kind in North America ● Approx 7,000sq.ft. of on-site child care centre (up to 70 children) ● 1 acre park beside Arcadia District Critical Dates: ● First Tentative Occupancy: 2027 Maintenance Fees: ● $0.69/square foot Parking: Available for 675 sq. ft and larger units • $75,000 Standard Parking (Reg: $85,000) • $85,000 Electric Vehicle Parking (Reg: $95,000) Deposit Structure: Payable to “Owens Wright LLP in Trust” Signing: $10,000.00** 30 Days: Balance of 5% 2025: 5% *10% due on occupancy **Initial deposit must be a bank draft ***Limited time offer, subject to change without notice. For more information, contact Cyrus Zandian SRS, RENE, ABR®, Sales Representative RE/MAX Hallmark Realty Ltd., Brokerage ☎️ Office: 416-494-7653 📱 Direct: 647-678-3101 E-mail: cyrus.zandian@yahoo.com

According to GWLRA, with the new acquisition, the combined sites of 1525-1555 Robson Street spanning about 33,000 sq ft will be turned into a redevelopment with two towers containing about 400 secured purpose-built rental homes and over 40,000 sq ft of retail/restaurant uses on the lower floors. Both towers will reach up to 28 storeys, including the two-storey commercial podium. Under the City’s West End Plan, the new buildings on this site can reach a height of up to 300 ft, with a minimum commercial use requirement for the lower levels, and potential density increases if the project incorporates rental housing or social housing uses. https://lnkd.in/g5vKFRwg

LFL has been considering options for this #land for a number of years,” Michael Walsh, President and CEO of LFL, tells #STOREYS. “We are now able to proceed with the secondary #plan process that will allow us to work on our master plan with the City of Toronto and the surrounding residents of this #community to determine the mix for the types of #residentialunits to be built. As part of that process, we will assess how we will use the available #governmentincentives." Monday's #pressrelease says that the secondary plan process is expected to be completed by mid-2025. The company also said that the project will unfold in phases, with the first phase of development focussed on building a new flagship retail store and replacing the corporate headquarters that’s already on the site. Residential development will be delivered in subsequent #phases of the #project. At the moment, a mix of mid- and #highrise #buildings and #townhomes are planned. #LEONS #Development #SecondaryPlan #CityOfToronto #ResidentialDevelopment #MidRise

Toronto has plans to redevelop some of your favourite malls into condo communities... There's a provincial push to introduce transit-oriented communities at sites well-served by rapid transit, have made SmartCentres Eglinton West (also known as Westside Mall) at Caledonia and Eglinton a favourable location for substantial intensification. Here's a list of some of the malls that are set for redevelopment. Alot of nostalgic memories for many of us in Toronto/GTA. Westside Mall, Scarborough Town Centre, Yorkdale, Sherway Gardens, Fairview Mall, the ongoing redevelopment of Galleria Mall, Yorkgate Mall, Jane Finch Mall, Agincourt Mall, Atrium on Bay, Dufferin Mall, Centrepoint Mall, Cloverdale Mall, and Malvern Town Centre With a significant shift in customer purchasing going online over the years, do we still need malls? #buildyourfuture #housing #construction #finance #realestate