City Council explores revitalizing Bank Street
Ottawa Watch
Ottawa City Council is set to vote on a plan to give Bank Street a new look. Sabrina Lemay of the Centretown BIA joins us with more.
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CTV News
28 minutes ago
- CTV News
Feds order Chinese tech firm to close Canadian operations over national security
In this Tuesday, Oct. 23, 2018, file photo, visitors pass by a booth for state-owned surveillance equipment manufacturer Hikvision at the Security China 2018 expo in Beijing, China. (AP Photo/Ng Han Guan, File) The federal government is ordering a Chinese maker of surveillance camera systems to shutter its Canadian business and leave the country over national security concerns. Industry Minister Mélanie Joly says in a post on X that the orders issues to Hikvision Canada Inc. are the result of a national security review under the Investment Canada Act. As part of the review, Joly says the government looked at information and evidence provided by Canada's security and intelligence community. She says the government ultimately determined allowing the company to keep operating in Canada would be harmful for the country's national security. On top of ordering Hikvision Canada to shut down, Joly says she is also moving to ensure the federal government, its departments, agencies and Crown corporations do not use or purchase equipment from the company. She says the government is also conducting a review of its properties to ensure legacy Hikvision products are not used going forward. She says the public should make note of these moves but stopped short of urging them to stop using Hikvision technology as well.
CTV News
41 minutes ago
- CTV News
Hudson's Bay landlords don't want Liu to move in, but retailer still has a shot
Billionaire Ruby Liu listens during an interview at a former Hudson's Bay-owned Saks Off 5th department store after a "handover ceremony" where she received the keys to the space at Tsawwassen Mills shopping mall that she owns, in Tsawwassen, B.C., on Thursday, June 26, 2025. (Darryl Dyck / The Canadian Press) TORONTO — A group of Hudson's Bay's landlords don't want to transfer more than two dozen leases to British Columbia billionaire Ruby Liu, but the department store still has a chance to get its way. The Bay, which filed for creditor protection in March, ran a process over the last several months to find buyers for leases belonging to it and Saks Canada. It agreed to sell up to 28 spaces to Liu. Three leases were transferred to her without any hiccups because they're in B.C. malls she owns, but another 25 are at properties held by a who's who of Canadian commercial real estate firms. Landlords for 23 of those sites oppose the transfer. Several have said in court they've been 'very troubled' with their interactions with Liu and have had 'no productive discussions, no meaningful disclosure.' Liu insists if the court hands her the leases, landlords will warm to her and her plan to open a new department store in their properties. While the disagreement could serve as a roadblock to the Bay closing on its agreement with Liu, lawyers not involved in the case say the retailer has another route it can take to get a deal done. That route lies in changes to the Companies' Creditors Arrangement Act — Canada's main insolvency law — made in 2009, said Jeff Lee, a Saskatoon-based partner at MLT Aikins LLP. The changes laid out three criteria courts must consider when asked to assign leases to a new tenant. The first is whether or not the sale has the support of the monitor, a court-appointed, independent third party which helps guide businesses through creditor protection. In the Bay's case, the monitor is Alvarez & Marsal. It has yet to reveal whether it supports the Liu deal and did not respond to requests for comment. 'Before any court application is brought forward, typically the company will test that out with them,' Lee said. 'They're not going to just sort of fly in blind and hope for the best.' The second aspect for the court to mull is whether the proposed new tenant is suitable. Lee said that's determined by looking at whether they can perform the duties of the tenant and pay rent. Liu, who made her money in Chinese real estate, appears to have deep pockets but her experience comes from being a landlord rather than a tenant. The final aspect the court will consider is whether a transfer of a lease to Liu is 'appropriate.' Lee said people should think of it as asking this question: 'Is what's proposed for this post-assignment lease relationship what people signed up for, or are they seeking to rewrite the lease or change the playing field so radically that it's not appropriate?' That's where much of the tension could lie in the Bay case. 'You can't go into CCAA as a tenant and then force your landlords to renegotiate their leases as a result,' said Peter Tolensky, a Vancouver-based partner at Lawson Lundell LLP. The Canadian Press obtained a document last week that Liu's lawyer sent landlords outlining her plans. It says she will take on the leases on an 'as is, where is' basis but doesn't mention the dining, entertainment, children's and fitness experiences she's told media she'd like to include in her department stores. It's unclear whether the leases allow for uses other than a Bay-like department store. A court faced with a request to reassign leases will weigh this context and think about whether 'the landlord's world is being turned upside down by having this new tenant,' said Geoffrey Dabbs, a B.C.-based founding partner at Gehlen Dabbs Cash. 'The more it's a minor inconvenience for the landlord, the more likely the judge will order it,' he said. While the Bay hasn't said whether it will seek an assignment, it's likely because any company in creditor protection has a duty to show the court it's doing its best to pay back companies and people it owes money to, Dabbs said. The Bay has a 26-page list of creditors, with some lenders owed more than $100 million each. Liquidation sales and a deal to sell the Bay trademarks to Canadian Tire for $30 million have put a dent in what's owed but selling leases to Liu would also help. Anyone who made an offer for leases had to make a deposit of 10 per cent of their estimated purchase price. Court documents show Liu made a deposit of $9.4 million, in addition to $6 million for the three approved leases, which would equate to a purchase price of $100 million for 28 leases. When a deal like this is reached, Dabbs said a company typically seeks landlord consent because commercial leases tend to have provisions stopping anyone from transferring a lease without a property owner agreeing. It's not uncommon for landlords to object because any leases that can't be sold and aren't assigned get turned back over to property owners who can choose how to fill them and under what terms. 'Remember, these are anchor leases, so they're probably very favourable to the Bay or to the tenant in a lot of respects,' said Tolensky, alluding to the fact that anchor tenants are often given attractive rents or terms. Thus, it's more advantageous for landlords to get their properties back, said Monica Beffa, founder of an Oakville, Ont., law firm. If they do, they can then charge higher rents, develop them for entirely new uses such as residential units or break them up into smaller parcels that can be rented by a wide array of tenants. If they don't and a court assigns the leases to Liu, landlords will likely be watching her closely to ensure she doesn't violate any terms of the agreement. 'The landlord may be cranky, if the tenant breaches, but put it this way, they don't want to rely on that,' Dabbs said. 'If they don't want this lease being assigned, they will fight it right up front.' This report by Tara Deschamps of The Canadian Press was first published June 28, 2025.
Ottawa Citizen
2 hours ago
- Ottawa Citizen
Could new 'Street Seats' revitalize downtown Ottawa?
Article content 'If it all works out well and it doesn't cause issues, I'm all for it,' said Suzanne Quintal, the boutique's owner. 'It looks cute. Article content 'I think this is a great corner to do it on because we've already got restaurants here, there's my shop (and) a tattoo shop. We're already a lively little spot, so I think that it can only enhance us.' Article content For the past year, Quintal said she's been suggesting ways to enhance the neighbourhood to her Centretown BIA, like adding a farmer's market. Article content 'I don't see why we have to go to Lansdowne to do fun things,' she added. Article content Article content In anticipation of more evening customers — thanks to Florence Street's stage for local performers just steps away — Quintal said she plans to adjust her store hours. Article content 'Instead of closing at 6 p.m. or 7 p.m. during the week, I'm going to open up a little later,' she said. 'Probably opening officially from 12 p.m. to 8 p.m., and if there's still stuff happening, I'll stay until 9 p.m. to take advantage of golden hour. Article content Article content 'It's nice to see good things happening on this street.' Article content Down the block from Honey Hi Boutique and adjacent to the bright pink set up is Pizzeria da Romolo, co-owned by Gianni Balestra. Article content In general, Balestra said he thinks Street Seats is 'a great idea' that will drive in more customers. Article content 'I believe in, 'monkey see, monkey do,' and if somebody orders a pizza, the next guy will order a pizza,' he said. 'The more the merrier.' Article content An issue Balestra said he anticipates is whenever he has to unload his weekly deliveries now that there are fewer available parking spaces. Article content 'My staff will have to physically carry everything to the pizzeria,' he said, adding that his staff will have to walk an extra 150 feet. 'It's just not fun, that's all.' Article content Another concern of Balestra's is that people may use the new benches to sleep on overnight. Article content 'I've seen that happen before on the park bench that used to be located on Florence Street,' he said. 'People don't have a place to sleep or lie down anywhere, so I'm concerned people will use the setup. Article content Article content 'I don't want to be negative about it, I'm going to stay positive. If we remove the issue of parking and all this, it's going to be great.' Article content Article content Street Seats is just the beginning for Sabrina Lemay, executive director of the Centretown BIA. Article content 'I think the neighbourhood needs a lot of things, and I think this is the start of what we hope to see as a revitalized downtown,' she said. 'It is a pilot project, so time will tell if this is exactly what it needs.' Article content The fact that Street Seats is a pilot project means that 'we learn as we do,' according to Troster. Article content 'We can use our experiences this summer to figure out what works and what we can expand on,' she said. 'It's not a permanent installation. We can move things around next summer. Article content 'People want a chance to play,' she added. 'I'm very much looking forward to this change and to see how people embrace it.'
