CCA conference kicks off this morning
The Canadian Construction Association’s three-day conference starts this morning with a tribute to outgoing chair Joe Wrobel and an incoming address by new chair Ray Bassett. The kickoff keynote address by General (Ret’d) Rick Hillier is scheduled for noon. Watch for extensive Daily Commercial News coverage of all three days.
Tricon, CPPIB to spend $500M on Toronto rentals
Tricon Residential Inc. and the Canada Pension Plan (CPP) Investment Board today announced a joint venture that will spend $500 million towards construction of 2,000 to 3,000 units of rental housing in the Greater Toronto Area. CPP Investments will spend $350 million and Tricon will contribute $150 million The projects will be built at a gross development cost of approximately $1.4 billion, including leverage, a statement explained.
Ford schedules announcement
Ontario Premier Doug Ford will be joined by Minister of Finance Peter Bethlenfalvy and Minister for Seniors Raymond Cho for an announcement this afternoon. Watch for remarks at 3:30 p.m. EDT. Tomorrow is Budget Day in the province.
Gowling writes on changes in expropriations for transit projects
Lexology today posts an article by Gowling WLG on Ontario’s Bill 245, which proposes changes to the Expropriations Act to expedite transit projects. Bill 245 will consolidate Ontario’s five Land Tribunals, including the Local Planning Appeal Tribunal which deals with expropriation matters, into one new Ontario Land Tribunal, explain Gowling’s Sahil Shoor and Tristan Neill.