Howard Chai
@Howard__24
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Taiwanese-Canadian. Western Lead at @storeyspub, where I cover real estate, housing policy, and the development industry. Email: [email protected]
Burnaby, British Columbia
Joined May 2009
The Canada Lands Company has a deal in place with MST to sell not just its 50% stake in the Heather Lands project, but also its stake in the Jericho Lands, documents show. The deal is expected to unfold in phases as the projects progress. #vanRE
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Numerous bids were outlined in court documents, with each bid getting a few lines of explanation as to why they fell through. #vanRE For the City of Surrey offer, which was $20 million+ below all the other initial offers, the explanation was simply "This offer was not accepted."
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A notable new rezoning application by $IIP.UN / InterRent REIT and Crestpoint for 2244-2280 W 6th Avenue in Kitsilano. 416 rental units across two 20-storey towers planned for the two rental buildings they bought in 2021 for $36,551,724. #vanRE
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Wesbild has sold 1371 McKeen Avenue, the 27.5-acre site in North Van where it had proposed a subdivision that was rejected by the DNV. Buyer was Dream Industrial REIT / $DIR.UN and GIC, the Singaporean sovereign wealth fund. Sources tell me $143M. #vanRE
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Keltic Development has unveiled its three-tower proposal for 5502 Lougheed Highway (REVS Bowling), after acquiring the site for $94M in 2023. #vanRE It's been covered elsewhere, but here are some more details and renderings:
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Not huge, but Westbank recently sold its remaining interest in Deloitte Summit in Vancouver and Toronto House in Toronto. #vanRE Allied Properties REIT / $AP.UN acquired controlling stakes last spring, then acquired the rest in December.
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I will have a story soon about another big transaction. A 20+ acre property in North Vancouver that has been sold by a recognizable developer. Should be well over $100 million. #vanRE
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A notable sale: the Willowbrook Park shopping centre in Langley has been sold for $137 million. The buyer was Shato Holdings Ltd., the owner of the White Spot restaurant chain who sold the West End White Spot in 2017 for $245 million. #vanRE
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As a journalist, it is fascinating to me that all these other NBA journalists have sources that are good enough to immediately confirm the trade, yet they can’t break the news.
Sources: In a blockbuster move, can confirm the Dallas Mavericks have traded Luka Doncic to the Los Angeles Lakers for Anthony Davis and a first-round pick as part of a three-team deal package with the Utah Jazz.
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Dallas didn’t even try to see if they could get a better offer from somewhere else?
Dallas had contacted several teams this week, looking to reroute additional salary for a potential three-team deal, sources said. A bunch of teams knew inklings about the Mavericks being close on a trade. Nobody knew it was trading Luka Doncic.
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On the anniversary of the Pau Gasol-Kwame Brown trade to the Lakers!!
BREAKING: The Dallas Mavericks are trading Luka Doncic, Maxi Kleber and Markieff Morris to the Los Angeles Lakers for Anthony Davis, Max Christie and a 2029 first-round pick, sources tell ESPN. Three-team deal that includes Utah.
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You have to do this if you’re the Lakers, though. Even if it means you now only have one playable big man on the roster.
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Here is my annual interview with Minister of Housing @KahlonRav. We discussed feedback from municipalities, DCCs, the PTT loophole, the election results, his new mandate, new legislation coming soon, and the tariff "war room" he's leading. #bcpoli #vanRE
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