Bryan Haggard Land Group’s Post

"Turning just 10% of underperforming retail sites into housing could create 700,000 new units nationwide, according to a November report from Enterprise Community Partners. While that’s just a drop in the bucket of America’s multimillion-unit housing shortage, it could make a real difference for some communities. In the Boston area, converting just 10% of strip malls would be enough to absorb all the population growth in the region for the next decade, according to a 2021 study from Massachusetts’ Metropolitan Area Planning Council. (A property did not need to be entirely vacant to be a good candidate for adding housing, and many housing conversions in this study propose keeping ground-floor retail in the apartment buildings.)"

🔹 "The Safeway at 1780 E Broadway is owned by Nova Scotia-based Crombie REIT, and they are partnering with Vancouver-based developer Westbank to redevelop the site, with Perkins&Will serving as the architect." 🔹 "When the developers submitted their original rezoning application for the site to the City in June 2019, the plan was for 24-, 27-, and 30-storey towers with a total of 520 market strata units and 160 market rental units, for a total density of 5.53 FSR." 🔹 "By August 2023, the rezoning application was withdrawn altogether ahead of the developers submitting a new rezoning application in November, which was made public earlier this year. That proposal was for 35-, 36-, and 39-storey towers, with a total of 981 residential units, consisting of 882 market rental units and 99 below-market rental units, for a total density of 7.90." 🔹 "Now, the proposal for the site is 36-, 37-, and 43-storey towers, with a total of 1,044 residential units, consisting of 940 market rental units and 104 below-market rental units, for a total density of 8.27 FSR." 🔹 "This 2024 Rezoning resubmission proposes an increase in density from the previously proposed 5.7 FSR to approx. 8.3 FSR," they added. "Although this density is greater than that originally envisioned for this site within the GWCP, it is well within parameters that would be considered reasonable when compared to neighbouring sites within the Broadway Plan Corridor." It remains unclear how the City will handle the proposal. Storeys | Westbank Corp | Crombie REIT | Perkins&Will #Redevelopment #Vancouver #Vancouverrealestate

Billionaires’ Row Developer Buys New York City Office Tower for Condos : Extell’s price for 655 Madison Ave. is more than $200 million condo skyscrapers, bought a Madison Avenue office property with plans to build luxury housing and retail at the site : New York City Manhattan’s Billionaires’ Row, including One57, where a penthouse sold for $100.5 million in 2014, and Central Park Tower, with a duplex “sky house” that’s listed for sale at $150 million : Elliott-backed Tyko Capital provides financing for the deal Extell Development, the company behind some of Manhattan’s most expensive condo skyscrapers, bought a Madison Avenue office property with plans to build luxury housing and retail at the site. The developer purchased 655 Madison Ave. — between 60th and 61st streets — from Williams Equities for more than $200 million, according to people familiar with the deal. Tyko Capital, which is backed by Elliott Investment Management, is financing the acquisition, one of the people said, asking not to be named discussing a private matter. The 24-story tower, built in the 1950s, has been slated for demolition. A spokesperson for Extell didn’t immediately comment. Spokespeople for Tyko and Williams declined to comment. New York developers have been seeking alternate uses for office properties as vacancies remain high since the pandemic. While buildings near transit hubs that were recently constructed or renovated have attracted tenants at strong rents, the market has been far bleaker for older towers. At the same time, demand for housing has been high. Last week, developer Vanbarton Group agreed to buy the Archdiocese of New York’s headquarters building on First Avenue, with plans to convert it into rental housing. That followed a deal in September to purchase a financial district tower for a similar office-to-housing project. High-end retail real estate on Fifth and Madison avenues has also been increasingly attractive for investors, as major luxury retailers seek long-term space on New York’s iconic shopping corridors. Extell has developed condos on New York City Manhattan’s Billionaires’ Row, including One57, where a penthouse sold for $100.5 million in 2014, and Central Park Tower, with a duplex “sky house” that’s listed for sale at $150 million.

Toronto and the GTA are losing a lot of their shopping malls where these shopping malls are being demolished and redeveloped into large mixed-use condominium communities where retail space would be added to these major condominium developments. The most recent condominium proposal where a shopping mall will be demolished is Shoppes on Steeles which is north of Toronto and sits right at the border of Toronto and City of Markham. Below I wanted to share an article of the ambitious redevelopment project to demolish Shoppes on Steeles where a masterplan of a mixed-use community would span eight buildings, bringing together residential, retail, and public spaces, and reshaping the German Mills neighborhood just beyond of Toronto's northern city limits. This article is relevant to LAUFT because with the rise of companies implementing remote work and hybrid work models, people living in these mixed-use communities will need access to an on-demand flexible workspace that is convenient, consistent and professional close to where they live, work, learn, eat shop and play. LAUFT is all about convenience, flexibility and productivity and would be a perfect solution to #MakeSmartWork and complement mixed-use developments such as the Shoppes on Steeles mixed-use development where a LAUFT on-demand flexible workspace location can act as the third option between the home and the office, an agent of time, not space. "Shoppes on Steeles Redevelopment Proposed in Markham" https://lnkd.in/g8rXFdtb #residential #retail #realestate #mixeduse #redevelopment #toronto #markham #gta #shoppingmalls #coworking #coworkingspace #construction #remotework #hybridwork #returntooffice #rto #workfomhome #wfh #workfromanywhere #wfa #convenient #consistent #professional #futureofwork #amenity #serviceproviders #propertyowners #cre #thirdoption #office #homeoffice #neighborhood #condodevelopment #masterplan #community #proposal #flexibility #productivity #worklifefreedom #worklifebalance

NEW TO MARKET FOR SALE - 76 Stafford Street - 25k sf renovated brick and beam character office & retail asset in the heart of Toronto's downtown west. New to market market for sale, our team is offering a wonderfully renovated character brick and beam office & retail asset, located in the heart of two of Toronto's most vibrant neighborhoods: King St W & West Queen St W. Steps from Trinity Bellwoods park, Queen St W shopping & restaurants and south to King St W and Liberty Village, this property is nestled among a quiet residential node and a surrounding landscape that is experiencing rapid intensification. Ideally suited for a creative user/investor to occupy all, or some of the complex while leasing the balance or looking to add to this already beautifully renovated asset through intensification. Are you an occupier who has always wanted to own your own space? This might be the one. Hey tenant rep brokers, are you working with downtown west occupiers looking to shift from a current lease scenario and have told you about always wanting to buy something? Give us a call to chat & let us run through a lease vs. sale analysis with your client to explore the potential benefits of owning (oh, and we're cooperating). High Level Details: - 76 Stafford St & 850 Richmond St W, Toronto - Land Area: 8,234 sf (0.19 acres) - Building Area: 25,026 sf (incl. LL) with 24,776 sf of space available immediately - Typical floorplate size 76 Stafford, +/- 5,450 sf - Year Renovated: 2019 - Parking: 6 surface & street parking - Zoning: I1 D3 - OP: Neighborhoods Price: Speak with Listing Agents For more information or to schedule a tour (coffee included), give myself or Alan Rawn a call. Cushman & Wakefield Cushman & Wakefield National Capital Markets Group

Multifamily housing is definitely a good choice at most mixed-use developments with a retail focus, but the residential component has to be planned right, for example, the type of housing, the location within the project, the parking allocation, some buffer from the commercial segment, the design elements, walkable amenities to integrate the real estate uses, etc.

FOR SALE - 76 Stafford Street - 25k sf renovated brick and beam character office & retail asset in the heart of Toronto's downtown west. New to market market for sale, our team is offering a wonderfully renovated character brick and beam office & retail asset, located in the heart of two of Toronto's most vibrant neighborhoods: King St W & West Queen St W. Steps from Trinity Bellwoods park, Queen St W shopping & restaurants and south to King St W and Liberty Village, this property is nestled among a quiet residential node and a surrounding landscape that is experiencing rapid intensification. Ideally suited for a creative user/investor to occupy all, or some of the complex while leasing the balance or looking to add to this already beautifully renovated asset through intensification. Are you an occupier who has always wanted to own your own space? This might be the one. Hey tenant rep brokers, are you working with downtown west occupiers looking to shift from a current lease scenario and have told you about always wanting to buy something? Give us a call to chat & let us run through a lease vs. sale analysis with your client to explore the potential benefits of owning (oh, and we're cooperating). High Level Details: - 76 Stafford St & 850 Richmond St W, Toronto - Land Area: 8,234 sf (0.19 acres) - Building Area: 25,026 sf (incl. LL) with 24,776 sf of space available immediately - Typical floorplate size 76 Stafford, +/- 5,450 sf - Year Renovated: 2019 - Parking: 6 surface & street parking - Zoning: I1 D3 - OP: Neighborhoods Price: Speak with Listing Agents For more information or to schedule a tour (coffee included), give myself or Joel Goulding call. Cushman & Wakefield Cushman & Wakefield National Capital Markets Group

🔑 Transform Commercial Spaces into Residential Units: Your Beginner’s Guide 🏘️ The demand for housing in urban areas is rising rapidly. But did you know there’s a hidden opportunity in vacant or underutilized commercial buildings? Converting commercial properties—like office spaces, warehouses, and retail shops—into residential units is one of the most impactful property development strategies today. 🚀 What is a Commercial-to-Residential Conversion? It’s the process of transforming office buildings, warehouses, or retail spaces into residential units. ✅ Helps meet housing demand ✅ Repurposes vacant buildings into functional spaces 🔍 Why is this significant? City centers are filled with untapped potential, but not all buildings are created equal. Start by identifying: Office spaces → Apartments or co-living spaces Retail units → Studios or flats Industrial buildings → Lofts or urban housing Why Are Commercial-to-Residential Conversions Booming? 📈 Here’s why developers, investors, and homeowners are exploring conversions: Increased Housing Supply: Addresses housing shortages in city hubs. Cost-Effective: Reusing existing structures saves time and money compared to new builds. Sustainability: Reduces demolition waste, making it an eco-friendly solution. Thought Starter 💭: Are we doing enough to unlock the value of vacant commercial buildings in our cities? Top Challenges to Watch Out For 🔍 While the benefits are substantial, so are the challenges: Zoning & Planning Regulations: Does your local council allow residential conversions? Structural Modifications: Older buildings often need upgrades to meet residential standards. Cost Overruns: Budget for surprises. Renovations can be expensive, especially for large-scale projects. Do You Need Planning Permission? 📝 Most conversions require planning permission. However, under Permitted Development Rights, some office-to-residential projects are exempt—if they meet specific conditions. ⚠️ Always check with your local council! A small oversight can lead to costly delays or legal hurdles. Is a Commercial-to-Residential Conversion Right for You? Before you take the plunge, evaluate these key factors: ✅ Market Demand: Is there a need for residential units in your location? ✅ Return on Investment (ROI): What’s the projected value of your property after conversion? ✅ Expertise: Do you have the right team to manage the project? Download our free Guide: https://shorturl.at/3zM2E Visit: https://plandome.co.uk/

FOR SALE: 5665 Austell Powder Springs Rd. Prime Development Opportunity in Downtown Austell, GA! This 1.4-acre property, currently zoned General Commercial (GC), is strategically located within Austell's Livable Centers Initiative (LCI) zone, making it a key site for future development. With the city expressing a strong interest in growth, rezoning for townhomes or other uses that align with the LCI study means this site offers tremendous potential for developers and business owners alike. Key Highlights: Ideal Location: Situated on Austell Powder Springs Rd., the site benefits from being on the path of the upcoming Austell Powder Springs Rd. multi-use trail, which will connect to the Silver Comet Trail in Powder Springs and enhance accessibility to the area. The property is also just 1.6 miles from the 25-acre Threadmill Complex, a site the city is actively discussing with developers for a transformative "Ponce City Market-like" project. High Traffic Exposure: Austell Powder Springs Rd. recorded an Average Daily Traffic (ADT) count of 9,750 vehicles as of May 31, 2019, providing excellent visibility and access for both residential and commercial uses. Utilities: Sufficient sewer and water capacity available on both Austell Powder Springs Rd. and Owens Dr., as confirmed by city staff, making it an excellent candidate for townhome development. Zoning Flexibility: The seller is open to working with developers on the rezoning process, with the potential for higher density or alternative uses in line with the city's goals for downtown revitalization. Neighborhood-Compatible Business Opportunity: Beyond residential development, this site is also ideal for neighborhood-compatible businesses such as cafes, boutiques, and professional offices, offering the chance to contribute to the area’s growth while benefiting from a built-in customer base. Existing Structure: Includes a 988 sq. ft. building on-site, offering potential interim use or redevelopment options. Whether you're looking to create a new residential community, establish a neighborhood-friendly business, or are an investor looking to capitalize on Austell's growth, this site offers endless possibilities. The offer price should reflect potential rezoning outcomes, and relevant city zoning documents are available at cafferealty.com. As an experienced broker with a track record of successfully upzoning in Austell, I'm available to assist or consult potential buyers through the process. Rezoning process in Austell can take 2 - 4 months which is much faster than other parts of the ATL metro. Don’t miss this opportunity to be part of Austell's exciting future! Listed by: Derek Caffe, CAFFE Realty

Old Orchard Skokie Development Update. $100 Million Transformation Of Old Orchard Mall Heads To Skokie Plan Commission Phase one includes the demolition of the former Bloomingdale's and the construction of over 400 apartments and 16,000 square feet of retail. SKOKIE, IL — The future of Old Orchard Mall will be the central topic at a Skokie Plan Commission meeting Thursday, with commissioners set to consider whether to recommend that trustees grant approval for redevelopment plans for the shopping center. The two-phase project proposed by mall landlord Unibail-Rodamco-Westfield, URW, in partnership with Chicago-based developer Focus calls for the demolition of northwest and northern portions of the mall, which will be replaced with new apartment buildings, and possibly a hotel, atop redesigned retail space. The first phase of the project includes the construction of up to 425 apartment units and 16,000 square feet of street-level retail in two buildings, one five stories tall and the other seven stories tall, connected by bridges and common areas. https://lnkd.in/gy_WKGQ2