Investors are cautious on commercial real estate, but buildings used for distribution, warehousing are bright spots, Re/Max says. Read on.
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A report published June 1, which looked at 12 commercial real estate markets across Canada in the first quarter of 2023, found that downtowns were suffering most from the persistence ofSign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
to help return activity to the downtown core. Although the report noted that not all buildings are suited for retrofit, some major centres are providing incentives to encourage conversion to residential. Calgary, for example, provides a $75-per-square-foot subsidy to developers for converting offices to residential, with 10 buildings approved so far.
“By way of conversion, more than 1,200 new homes will be created and approximately one million square feet of commercial office space will be eliminated, breathing new life into Calgary’s downtown core,” according to the Re/Max report.
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Investors treading cautiously on commercial real estate as downtowns suffer: Re/MaxInvestors are cautious on commercial real estate, but buildings used for distribution, warehousing are bright spots, Re/Max says. Read on.
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Investors treading cautiously on commercial real estate as downtowns suffer: Re/MaxInvestors are cautious on commercial real estate, but buildings used for distribution, warehousing are bright spots, Re/Max says. Read on.
Lire la suite »
Investors treading cautiously on commercial real estate as downtowns suffer: Re/MaxInvestors are cautious on commercial real estate, but buildings used for distribution, warehousing are bright spots, Re/Max says. Read on.
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