Residential

Ottawa-based real estate investment trust said its funds from operations rose nearly 11 per cent last year to $56.7 million.
Builders started work on just 754 new units last month, down from 1,178 in February 2020, the housing agency reported Monday.
The REIT said it generated funds from operations of $50 million for the year ending Dec. 31, up from $39.6 million in 2019.
Chicago-based firm has purchased a 47.5 per cent interest in development that will see a pair of 25-storey highrises constructed at the corner of Rideau and Chapel streets.
Course owner says club is no longer financially viable and wants to partner with Minto Communities and Richcraft Homes to construct more than 1,500 homes on the 71-hectare property.
The average price of a residential-class property jumped 27 per cent to nearly $720,000 last month compared with February 2020.
While nearly half of all homes trading hands in the capital sold for less than $400,000 in 2019, less than a third of all transactions last year were in that price bracket, agency says.
Property owner ClubLink wants to partner with Minto Communities and Richcraft Homes to build more than 1,500 homes on the 71-hectare site.
Ottawa homebuilders started work on 450 new dwellings in January, up from 371 starts in the same month in 2020, the federal agency reported this week. 
That's up slightly from 10 years ago but still well below the “affordability threshold” of 30 per cent, according to the new report from real estate search portal Point2.