Real Estate

Mirvish Village developer Westbank faces lawsuits over unpaid bills and more of this week’s top real estate stories

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Home of the Week, 29 Swanwick Ave., TorontoRaffi Tutundjian/Raffi Tutundijan/Jagged Lens

Here are The Globe and Mail’s top housing and real estate stories this week, with the lowest mortgage rates available in Canada today, commentary from our mortgage expert and one home worth a look.

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Property developer Westbank faces lawsuits over sprawling Mirvish Village redevelopment project

High-profile Canadian real estate developer Westbank Corp. is being sued by four construction companies for more than $25-million in unpaid work at the large Mirvish Village rental apartment project in Toronto, writes Shane Dingman and Rachelle Younglai. In a statement, Westbank said the issues stem from disruptions after it took over as its own construction manager on the site, and said that construction is “progressing” as it plans to finish the residential portion of the Mirvish project in 2024.

Westbank

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Real Estate

$2.8 million for a Beaconsfield Village century home hidden by a wall of greenery

House of the Week: $2.8 million for a Beaconsfield Village century home hidden by a wall of greenery

The 3,000-square-foot Victorian comes with period pieces, dramatic beams and arches, beautiful barn boards, and a hidden pool in the backyard

Neighbourhood: Beaconsfield Village
Price: $2.8 million
Last sold for: $327,000 in 2006
Size: 3,000 square feet
Bedrooms: 3
Bathrooms: 3
Agent: Suzanne Senst, Royal LePage


The place

A three-bedroom, three-bathroom century home on Argyle Street in Beaconsfield Village. Sitting on a 26-foot-wide lot, it comes with a pool, a lush garden and an addition overlooking the backyard. It’s also within walking distance of Little Portugal, Trinity Bellwoods Park and the many amenities of West Queen West.

The history

Built in 1898, this Victorian was purchased in 2006 by Michelle Donnelly, a creative director, and her husband. The house was crumbling to the ground at the time, so the two brought on

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Real Estate

Peterson Proposing 14-Tower Master Plan 'Burnaby Lake Village'

The area immediately east of Sperling-Burnaby Lake Station in Burnaby is set to become the next Brentwood, in terms of development interest, as it’s the focus of the newly-proposed Burnaby Lake Heights Master Plan and the Burnaby Lake Village Master Plan, two different large-scale community plans that share a site boundary.

While Burnaby Lake Heights will be located t 7000 Lougheed Highway, Burnaby Lake Village will be located at 6800 Lougheed Highway. The 18.81-acre site is currently occupied by a sprawling industrial building that is scheduled to be decommissioned, the City says, and was formerly a milk plant owned by Saputo before it was sold for over $200M in 2019 to Create Properties and Peterson Group.

Council received the rezoning application in October 2022, and the developers have now returned with a full Conceptual Master Plan that Council will likely grant a First Reading to this evening and refer

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Real Estate

Google village real estate development partner Lendlease trims staff

Gateway section near Water Company Building within Google’s Downtown West transit-oriented neighborhood in downtown San Jose, concept. (SITELAB urban studio, Google)

SAN JOSE — Google’s principal real estate partner for several new Bay Area neighborhoods — including a downtown San Jose transit village whose development timing is being reassessed — has trimmed its staff levels.

Australia-based Lendlease has confirmed that it has restructured and trimmed staff in the wake of Google’s disclosures of 12,000 layoffs that include 1,600 job cuts in the Bay Area, as well as a reassessment by the search giant of the timeline for its future mixed-use neighborhood near the Diridon train station and SAP Center in downtown San Jose.

“In order to align our resources to the market, we are in the process of reorganizing, including reductions to our Google Development Ventures business,” a Lendlease spokesperson said in comments the global real estate development and services

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