- Real Estate Recap
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- đŹ This housing stat is concerning...
đŹ This housing stat is concerning...
Plus more news from across Canada.
Recap Team
September 12, 2025
Good morning!âïž Ready to kickstart your day? Take 5 minutes to recap all the major news headlines from this week.
⥠Top Story
CMHC Warns of Crisis Amid 30-Year Low Housing Starts | ON
A new CMHC report shows Torontoâs housing starts dropped 44% in H1 2025 vs. H1 2024âthe lowest per-capita level since 1996. Condominium starts plunged 60% amid weak investor demand; rentals fell 8%. Unsold inventory and cancelled condo projects compound affordability and supply concerns. Full Story
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Surrey Set to Become BCâs Largest City by 2038 | BC
Under Metro Vancouverâs new forecast, Surreyâs population is projected to surpass Vancouverâs in 2038. Surrey will grow from roughly 701,000 in 2024 to over 897,000 by 2041, while Vancouver is expected to reach about 878,000. Surrey can hit one million residents by 2051, becoming BCâs first city to reach seven figures. Full Story
Delta Considers New Mixed-Use Zones to Speed Housing | BC
Delta council will review new MU6 and MU6R zones, allowing six-storey mixed-use buildings with commercial below and residential above. Currently, mixed-use projects require individual CDZ approvals. The change, part of the Housing Accelerator Fund, aims to streamline applications and accelerate housing. Full Story
Wesgroup Cancels âArdeaâ Condo Project in River District | BC
Wesgroup Properties has cancelled its 204-unit âArdeaâ waterfront condo project in Vancouverâs River District, citing high construction and delivery costs, and weak presale demand. Deposits will be fully refunded. The developer plans to reimagine a more viable project for the site. Full Story
17-Storey Rental Tower Proposed Near St. Clair West Station | ON
A 17-storey rental tower has been proposed for 146â150 Vaughan Road in Toronto's HumewoodâCedarvale neighbourhood. Designed by BNKC Architects for InnoDev Partners, the project includes 110 rental units. The site is within a Major Transit Station Area, approximately a 10-minute walk from St. Clair West subway station. Full Story
38-Storey Mixed-Use Tower Proposed in St. James Town | ON
Greatwise Developments has unveiled plans for a 38-storey mixed-use tower at 77 Howard Street in Toronto's St. James Town. Designed by Arcadis, the project aims to enhance the area's density while preserving the existing 24-storey rental building. It will include 456 condominium units, retail space, and a public park. Full Story
Brampton Cuts & Defers DCs to Boost Purpose-Built Rentals | ON
Facing a lack of purpose-built rentals, Brampton City Council has approved reduced development charges: 50% off for one-bed units, 75% off for two-bed units, and full relief for three-bedroom rental units. DC payment is also being deferred until occupancy to incentivize rental housing and meet provincial targets. Full Story
đŻ Random Fact of the Day
Did you know that the only continent with no active volcanoes is Australia? This is because Australia is situated in the middle of a tectonic plate, away from the fault lines where volcanoes typically form.
West Van Removes Rental Requirement for Beedie Project | BC
West Vancouver council approved Beedie Livingâs multi-tower project as all strata, removing 275 planned rental units. A motion to allocate half of the developerâs $13-million amenity contribution to affordable housing failed. Mayor and councillors say the funds may still be used for housing in future discussions. Full Story
Brookfield Lists Shangri-La Retail Component for Sale | BC
Brookfield, after acquiring Shangri-La Vancouver earlier in 2025 and rebranding the hotel as a Park Hyatt, is now looking to sell its adjacent retail parcel at 1121 Alberni Street. The fully leased site (approximately 40,996 sq ft) includes tenants like Burberry, Urban Fare, and The Keg. Full Story
Receiver Seeks Sale of 32-Storey Flatiron Site on Bathurst | ON
Toronto receivership firm TDB Restructuring is selling parcels at 3742-3750 Bathurst Street, sites approved in February 2024 for a 10-storey mid-rise plus a 32-storey flatiron tower. The project, by Grmada Holdings, includes 479 condos. The seller is aiming for a disposition due to $28M+ debt. Full Story
Squamish Nation Buys International Plaza in North Van | BC
Squamish Nationâs economic arm Nchâáž”ayÌ has acquired International Plaza Apartments in North Vancouver from CAPREIT for $54.2 million, returning ownership of the two-tower property (471 rentals + approximately 65,000 sq ft retail) atop reserve land. Full Story
Sightline Proposes Four High-Rise Towers | BC
Sightline Properties plans to redevelop a 3.06-acre land assembly north of Renfrew Station in East Vancouver with four towers of 39-45 storeys, totalling 1,959 homes (1,386 strata, 573 rental). It includes retail, childcare, open space, and below-market units under a proposed CD-1 rezoning. Full Story
Public Hearing Scheduled for Victoria's New OCP | BC
Victoria's public hearing on the updated Official Community Plan (OCP) is scheduled for September 11, 2025. The proposed "Victoria 2050" plan aims to modernize zoning, support climate action, and enable diverse housing development. This is the final opportunity for public input before council consideration. Full Story
đ Save These Dates
September 16, 2025, 5:30am | Inflation Rate
September 17, 2025, 6:45am | BoC Interest Rate Decision
Youâre all caught up. Enjoy your weekend!