Four-story 45-unit condo project approved for East Bayside

Portland planners have approved a four-story, 45-unit condominium complex in Portland’s East Bayside neighborhood.

The Portland Press Herald reported the $13 million project, on steeply sloped land at 218-220 Washington Ave., is expected to break ground next spring.

City spokeswoman Jessica Grondin told the newspaper the project was approved with conditions, one of which requires Portland developer Vincent Maietta to pay $461,000 into the city’s housing trust fund.

The approval comes on the heels of the City Council’s vote to sell four city-owned parcels in Portland’s Bayside neighborhood, to be redeveloped in mixed-use projects, for nearly $4 million. Earlier this month, the PPH reported the parcels will be sold to the following developers: Jack Soley; Tom Watson Co. LLC; and Barrett Made, a design and building firm. Developer Nathan Szanton and Bayside landowner Ross Furman are being recommended to buy and develop a small parcel surrounded by property Furman already

... read more at: http://www.mainebiz.biz/article/20171011/NEWS0101/171019987/four-story-45-unit-condo-project-approved-for-east-bayside

How winning the race to be Amazon’s second headquarters could turn out to be a curse

As the dozens of cities lustily bidding for Amazon’s second headquarters parade their smart citizens, housing capacity, transportation connections and tax breaks this week to lure Jeff Bezos’s empire, the sometimes painful housing-market lessons of Seattle — the e-commerce giant’s home base — has become a factor of its own in this race.

The housing market must be a major consideration as metro areas march forward in their pursuit and Amazon makes its pick, say real-estate experts, especially as it relates to Amazon’s

AMZN, -0.38%

... read more at: http://www.marketwatch.com/story/amazons-second-headquarters-could-be-curative-or-curse-for-winning-citys-real-estate-market-2017-10-19

RioCan and Allied Announce Results of Condo Marketing Program …

TORONTO, ONTARIO–(Marketwired – Oct. 17, 2017) – RioCan REIT (TSX:REI.UN) and Allied Properties REIT (TSX:AP.UN) today announced that the residential condominium units at King Portland Centre are substantially sold out, subject to customary closing conditions and rights of rescission. RioCan and Allied expect the profitability of these units to exceed initial expectations.

King Portland Centre is located at the northwest corner of King Street West and Portland Avenue in the heart of Toronto’s King West neighbourhood. In addition to the strength of its location, the development is unique, in that it will incorporate a restored heritage structure, 602-604 King West, with a substantial new mixed-use structure. The combined structures (at 100%) will be comprised of the following:

  1. approximately 59,000 square feet of office and retail GLA in the heritage structure, which is fully occupied;
  1. approximately 256,000 square feet of additional office GLA in the new structure, which is 93% pre-leased

    ... read more at: http://www.marketwired.com/press-release/riocan-allied-announce-results-condo-marketing-program-king-portland-centre-torontos-tsx-ap.un-2237437.htm

This Toronto building shows why developers are converting rentals to condos








Photo: King Portland Centre

This week, a major new development’s condo units sold out, just days after they went on sale. But those same units had originally been designated as rental, before the new rent control legislation led the developers to have a change of heart.

On Tuesday, RioCan and Allied Properties announced that the condo units at the downtown Toronto King Portland Centre — 133 units which went on sale just a few days before, on October 14 — where substantially sold out.

“The strong response to the sales launch… this past weekend affirmed the decision by RioCan and Allied to convert the project from rental to condominium,” writes RioCan CEO Edward Sonshine, in a statement.

... read more at: http://news.buzzbuzzhome.com/2017/10/toronto-building-converting-rentals-condos.html

Amazon’s second headquarters could be curative or curse for winning city’s real-estate market

As the dozens of cities lustily bidding for Amazon’s second headquarters parade their smart citizens, housing capacity, transportation connections and tax breaks this week to lure Jeff Bezos’s empire, the sometimes painful housing-market lessons of Seattle — the e-commerce giant’s home base — has become a factor of its own in this race.

The housing market must be a major consideration as metro areas march forward in their pursuit and Amazon makes its pick, say real-estate experts, especially as it relates to Amazon’s

AMZN, -1.04%

... read more at: http://www.marketwatch.com/story/amazons-second-headquarters-could-be-curative-or-curse-for-winning-citys-real-estate-market-2017-10-19

RioCan and Allied Announce Results of Condo Marketing Program at King Portland Centre in Toronto’s Downtown West – SYS



TORONTO, ONTARIO — (Marketwired) — 10/17/17 — RioCan REIT (TSX:REI.UN) and Allied Properties REIT (TSX:AP.UN) today announced that the residential condominium units at King Portland Centre are substantially sold out, subject to customary closing conditions and rights of rescission. RioCan and Allied expect the profitability of these units to exceed initial expectations.

King Portland Centre is located at the northwest corner of King Street West and Portland Avenue in the heart of Toronto’s King West neighbourhood. In addition to the strength of its location, the development is unique, in that it will incorporate a restored heritage structure, 602-604 King West, with a substantial new mixed-use structure. The combined structures (at 100%) will be comprised of the following:

i. 

... read more at: http://news.sys-con.com/node/4180679

RioCan and Allied Announce Results of Condo Marketing Program at King Portland Centre in Toronto’s Downtown West

TORONTO, ONTARIO–(Marketwired – Oct. 17, 2017) – RioCan REIT (TSX:REI.UN) and Allied Properties REIT (TSX:AP.UN) today announced that the residential condominium units at King Portland Centre are substantially sold out, subject to customary closing conditions and rights of rescission. RioCan and Allied expect the profitability of these units to exceed initial expectations.

King Portland Centre is located at the northwest corner of King Street West and Portland Avenue in the heart of Toronto’s King West neighbourhood. In addition to the strength of its location, the development is unique, in that it will incorporate a restored heritage structure, 602-604 King West, with a substantial new mixed-use structure. The combined structures (at 100%) will be comprised of the following:

  1. approximately 59,000 square feet of office and retail GLA in the heritage structure, which is fully occupied;
  1. approximately 256,000 square feet of additional office GLA in the new structure, which is 93% pre-leased

    ... read more at: http://www.marketwired.com/press-release/riocan-allied-announce-results-condo-marketing-program-king-portland-centre-torontos-tsx-ap.un-2237437.htm

RioCan and Allied Announce Results of Condo Marketing Program at King Portland Centre in Toronto’s Downtown West

TORONTO, ONTARIO–(Marketwired – Oct. 17, 2017) – RioCan REIT (TSX:REI.UN) and Allied Properties REIT (TSX:AP.UN) today announced that the residential condominium units at King Portland Centre are substantially sold out, subject to customary closing conditions and rights of rescission. RioCan and Allied expect the profitability of these units to exceed initial expectations.

King Portland Centre is located at the northwest corner of King Street West and Portland Avenue in the heart of Toronto’s King West neighbourhood. In addition to the strength of its location, the development is unique, in that it will incorporate a restored heritage structure, 602-604 King West, with a substantial new mixed-use structure. The combined structures (at 100%) will be comprised of the following:

  1. approximately 59,000 square feet of office and retail GLA in the heritage structure, which is fully occupied;
  1. approximately 256,000 square feet of additional office GLA in the new structure, which is 93% pre-leased

    ... read more at: http://www.digitaljournal.com/pr/3525795

RioCan and Allied Announce Results of Condo Marketing Program … – SYS



TORONTO, ONTARIO — (Marketwired) — 10/17/17 — RioCan REIT (TSX:REI.UN) and Allied Properties REIT (TSX:AP.UN) today announced that the residential condominium units at King Portland Centre are substantially sold out, subject to customary closing conditions and rights of rescission. RioCan and Allied expect the profitability of these units to exceed initial expectations.

King Portland Centre is located at the northwest corner of King Street West and Portland Avenue in the heart of Toronto’s King West neighbourhood. In addition to the strength of its location, the development is unique, in that it will incorporate a restored heritage structure, 602-604 King West, with a substantial new mixed-use structure. The combined structures (at 100%) will be comprised of the following:

i. 

... read more at: http://news.sys-con.com/node/4180679