Skip to main content

Featured

Judge Halts Retailer’s Bid for Former Hudson’s Bay Space at Yorkdale

Judge blocks department store from moving into former HBC space at Yorkdale mall. A proposed plan to open a new retailer in the former Hudson’s Bay space at Yorkdale Shopping Centre has been stopped by an Ontario judge. The decision blocks a deal that would have transferred the large anchor location to a discount-focused department store operator. The court found that the arrangement did not meet the standards required for such a major tenancy change, supporting Yorkdale’s position that the retailer was not an appropriate fit for the mall’s upscale environment. The ruling ends months of dispute over the future of the vacant three-level space and underscores the challenges malls face as they try to repurpose former department store footprints. Yorkdale, known for its luxury brands and high-end positioning, is now expected to pursue alternatives that better align with its long‑term strategy.
Post a Comment
Read more

article

Labels

Ontario Caps Rent Increases Below Inflation Rate for 2025

Ontario has announced that the annual rent increase guideline for 2025 will be capped at 2.5 per cent. This rate is currently the lowest in the country and falls below the average inflation rate of 3.1 per cent. The guideline ensures that landlords cannot increase rent beyond this limit without approval from the Landlord and Tenant Board.

Under the Residential Tenancies Act, the cap is set at 2.5 per cent to protect tenants from rising interest rates that could lead to higher rent. Without this cap, the recent inflation rate would have resulted in a 3.1 per cent increase in 2025. It’s important to note that rent increases are not automatic; landlords must provide tenants with at least 90 days’ written notice using the correct form. If tenants believe they’ve received an improper rent increase, they can request a correction from the Landlord and Tenant Board.

Over the last three years, Ontario has seen significant housing starts and rental housing development, making this move a crucial step in maintaining affordability for tenants. 


Labels:

Comments

Post a Comment