New partnership for Alignvest
Toronto-based Alignvest Student Housing Inc. today announced the launch of Academic Assets Inc. in partnership with developer Patrick Miksa. The new firm will operate as a real estate developer that will focus on purpose-built student accommodation and ancillary asset classes. Alignvest is the general partner of Canadian Student Living Group Limited Partnership.
Feds support Quebec manufacturers
The federal government will announce spending to support three Quebec manufacturers today. The firms are SiliCycle, M2S Electronique and Usitech Precision. The media event will take place at 2 p.m. EST. Also today, at 1 p.m. EST, the federal government will announce support for Indigenous entrepreneurs.
StatsCan reports construction increase in December
Statistics Canada reported yesterday that total investment in building construction increased 1.5 per cent in December, following three consecutive months of declines. Non-residential construction investment remained at $4.4 billion for the third consecutive month. Ontario reported the largest gain, up 2.0 per cent from November.
Investment in commercial building construction edged up 0.3 per cent in December, driven in large part by Ontario’s growth in this sector (up 3.6 per cent to $1.1 billion). The construction of large projects, such as Amazon’s Project Python being built in Ottawa, contributed to the rise.
Institutional investment (up 0.9 per cent) also increased in December but industrial investment edged down 0.2 per cent.
Feds spend on P.E.I. roads
The federal government today announced six road infrastructure projects involving rehabilitation or new builds for Prince Edward Island. The projects will cover 173 kilometres of local roads in addition to replacing buried structures and bridge spans. The federal government is spending $14.2 million on the works with the provincial government contributing $17.5 million.