The global COVID-19 pandemic is having far reaching effects in Toronto, including major impacts to what have been booming real estate and building industries. Many jobs and events are currently suspended, postponed, or affected in other ways, though UrbanToronto is still operating at full strength with our team working remotely. As a means to keep the public in the loop about the shutdowns, we'll be sharing information and status updates from around the industry on a daily basis.
In today's report; Brampton offers rent relief to small business and non-profit tenants across 41 City facilities; all City of Markham public facilities will remain closed until further notice; Ivanhoé Cambridge offering retail tenants rent concessions; and more news from the COVID-19 front.
Government notices and announcements:
Mayor Patrick Brown announced that the City of Brampton will provide rent relief to small business and non-profit tenants across 41 City facilities.
All City of Markham recreation centres, libraries and facilities will remain closed until further notice. Spring programming is cancelled and we will be notifying everyone affected.
Private sector/other notices and announcements:
Mattamy Homes continues to closely monitor the risks associated with the coronavirus (COVID-19), and are taking the responsible and necessary precautionary measures to protect the health and well-being of employees, customers and other stakeholders.
Ivanhoé Cambridge has offered their retail tenants much needed rent concessions to assist as they maneuver through significant sales and operational challenges due to COVID-19.
Canada’s big banks delivered a joint announcement this week that they will be offering mortgage deferrals for those impacted by the COVID-19 crisis. Dozens of other lenders followed in their footsteps.
Everyone from construction workers to brokers to real estate executives are encouraged to share tips on what work and events have stopped, what is proceeding, and how their businesses are being affected by the various shutdowns.