Teranet-National Bank composite house price index held steady in April
The Teranet-National Bank composite house price index which tracks home prices in 11 of Canada's largest cities remained stable from March to April.
Latest Videos
The information you requested is not available at this time, please check back again soon.
The Teranet-National Bank composite house price index which tracks home prices in 11 of Canada's largest cities remained stable from March to April.
JPMorgan Chase & Co. signed a lease at 360 Rosemary, Related Cos.’ newly developed office tower in West Palm Beach, Florida, that’s become popular with finance firms.
Deutsche Bank AG has entered a capital relief deal with the European Investment Bank that allows the German lender to grant discounts on more than €600 million ($652 million) of green mortgages in its home market.
Football’s global governing body opened the door to potentially moving its headquarters from Zurich, while stressing that it’s “happy” for now having its main office in Switzerland.
Bank of America Corp. agreed to buy a portfolio of commercial real estate loans from WaFd Inc. for about $2.9 billion, helping the regional lender reduce its exposure to a sector that has raised red flags for regulators and investors.
Apr 9, 2024
The Canadian Press
British Columbia's government is spearheading a new public development project on Vancouver Island aimed at bringing more affordable homes closer to transit access.
Premier David Eby says the province has purchased two parcels of land for the Uptown development in Saanich, B.C., through the $394-million property acquisition fund operated by the Transportation Ministry.
Eby says the plan is to build "hundreds" of new homes, retail and commercial capacity, on the site, along with possible amenities such as child care, public spaces and a transit hub.
The development plan was announced after the province finalized the acquisition of two properties recently for a combined cost of $9.3 million, with the planning still in its early stages.
Eby says government got involved in the real estate development because of a "paradox" where people who use transit in B.C. are often priced out of homes close to those options.
He says the province will retain ownership of the land, while housing developed at the sites would be done as leaseholds or rentals, although the exact mix of housing has yet to be decided.
"One of the pieces that we've really seen … is that the property values that immediately are adjacent to transit development go up in value," Eby says. "And when that land value goes up, the housing that's ultimately built on that site also ends up being more expensive.
"With government actually buying the land near transit hubs like this … we can shape development in a way that supports people who actually use transit actually being able to live close to the transit that they depend on."
No timeline for the development's construction or completion has been released.
This report by The Canadian Press was first published April 8, 2024.