GTA Condo Life - January 29, 2022

Greater Toronto’s COMPLETE CONDO GUIDE

Greater Toronto Area Jan. 29–Feb. 26, 2022

thehighlandcommons.com

INSIDE:

SPECIAL REPORT: OUTLOOK 2022

GTA HOME SALES, PRICES REACH RECORD HIGHS IN 2021

JAN 29–FEB 26, 2022

CONTENTS COVER STORY

24 HIGHLAND COMMONS ALTREE INTRODUCES RESIDENCES BY THE CREEK IN SCARBOROUGH — SURROUNDED BY ELEGANT GREENSPACE 6 condolife magazine | Jan. 29–Feb. 26, 2022

46

48 50

DEPARTMENTS

COLUMNS

8

19

Editor’s Note Defying the odds

10

Contributors

14

Condo Life Online

15

In the Spotlight GTA new home sales very strong in November; more news on pages 16, 17 and 18

20 Inside The GTA 37

Neighbourhood Watch

58

Maps & Amenity Charts

36 Home Realty Resources to help with your homebuying homework

65 Advertisers Index Want more information? Just ask — and you could win a prize

SPECIAL REPORT

28

Outlook 2022

38

42 Personal Finance New to Canada? Here’s how to qualify for a mortgage

66 Industry Report Will 2022 be the year we fix housing supply in the GTA?

Guest Column Follow the GO for a solid financial or lifestyle investment

Markham

The Marketing Edge 2022: Two elections, one issue – housing supply

Real Insight Housing supply solutions: Better land use and more mixed density housing

Legally Speaking Should you add your kids to the title of your home?

27

41

Western View Women represent a longterm solution to industry labour shortages

23

Municipalities must do their part for housing affordability

Stat Chat New home price growth becoming a concern

22

40 Real Estate Pro

INTERIORS

45 Cover 46 Decor 48 Home Life 50 Big Style 53

Home Finds nexthome.ca 7

EDITOR’S NOTE

DEFYING THE ODDS

WAYNE KARL EDITOR-IN-CHIEF Condo Life

EMAIL: wayne.karl@nexthome.ca TWITTER: @WayneKarl

+ get social 8

condolife magazine | Jan. 29–Feb. 26, 2022

There’s just no keeping the GTA housing market down. Year in, year out, and into a second year of a pandemic, the numbers – namely sales and price growth – continue to defy the odds and outperform all expectations.

The GTA new home market saw continued strong sales in November, the highest for this month in more than two decades, according to the Building Industry and Land Development Association (BILD). Total November new home sales of 5,042 were 29 per cent above the 10-year average.

The benchmark price for new single-family homes hit $1.67 million in November, up 33 per cent over the last 12 months. Condominium units, meanwhile, increased 7.8 per cent over this period to $1.08 million.

On the resale side, the GTA achieved record highs for both sales and average price, according to the Toronto Regional Real Estate Board. Tight market conditions pushed the average selling price to an all-time high of $1.09 million – up 17.8 per cent compared to the previous record of $929,636 in 2020.

These are especially pleasing results for those who already own a home, but they represent formidable challenges for those hoping to buy.

“Housing affordability driven by lack of supply has become a critical issue in the GTA with broad societal implications,” says Justin Sherwood, senior vice-president of BILD. “Housing affordability will be a significant issue in the 2022 provincial and municipal elections.”

So, how does the year ahead look, given the supply issue, the pandemic, the economy, interest rates and other influences?

“I’m confident that the real estate market will remain strong in 2022,” says Brian Brown, principal at Lifetime Developments. “I would encourage prospective homebuyers to enter the market when you can, especially if you have your heart set on Toronto.”

Indeed, research, preparation and purchasing readiness have never been more important.

Everything points to that, in a year from now, we’ll again be writing about another record year – though hopefully the pandemic part will be over.

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CONTRIBUTORS PERSONAL FINANCE | JESSE ABRAMS Jesse Abrams is Co-Founder at Homewise, a mortgage advisory and brokerage firm based in Toronto. thinkhomewise.com

CHIEF REVENUE OFFICER

Jacky Hill jacky.hill@nexthome.ca EXECUTIVE MEDIA CONSULTANT

Michael Rosset

EDITOR-IN-CHIEF – NATIONAL REAL ESTATE

Susan Legge susan.legge@nexthome.ca REAL ESTATE PRO | BARBARA LAWLOR Barbara Lawlor is President and CEO of Baker Real Estate Inc., and an in-demand columnist and speaker. A member of the Baker team since 1993, Barbara oversees the marketing and sale of condo developments in Canada and overseas. baker-re.com

EDITOR-IN-CHIEF – GREATER TORONTO AREA

Wayne Karl wayne.karl@nexthome.ca MANAGING EDITOR

Rise Levy rise.levy@nexthome.ca CONTRIBUTORS

DECOR | LINDA MAZUR Linda Mazur is an award-winning designer and Principal of Linda Mazur Design Group. With almost two decades of experience this in demand multi-disciplinary design firm is known for creating relaxed, stylish spaces and full-scale design builds throughout the GTA and Canada. lindamazurdesign.com @LindaMazurGroup

REAL INSIGHT | JASON MERCER Jason Mercer is TRREB’s Chief Market Analyst. His sought-after market analysis helps realtors and their clients understand housing trends and underlying economic drivers in the GTA.

Jesse Abrams, Andrew Brethour, Mike Collins-Williams, Sara Duck, Michael Klassen, Barbara Lawlor, Linda Mazur, Jason Mercer, Ben Myers, Lisa Rogers, Jayson Schwarz, Ivanka Siolkowsky, Dave Wilkes SENIOR VICE-PRESIDENT, SALES, NEXTHOME

Hope McLarnon 416.708.7987, hope.mclarnon@nexthome.ca SENIOR MEDIA CONSULTANTS

Amanda Bell 416.830.2911, amanda.bell@nexthome.ca Natalie Chin 416.881.4288, natalie.chin@nexthome.ca VICE-PRESIDENT, MARKETING – GTA

Leanne Speers

SENIOR CLIENT RELATIONS SPECIALIST – GTA

Sonia Presotto

MANAGER CUSTOMER SALES/SERVICE

Marilyn Watling STAT CHAT | BEN MYERS Ben Myers is President of Bullpen Consulting. Ben provides pricing recommendation, product mix, and valuation studies on new residential housing developments for builders, lenders and property owners. bullpenconsulting.ca

SALES & MARKETING CO-ORDINATORS

Gary Chilvers, Vi Nguyen

HOME SHOW MANAGER & NEWSPAPER CIRCULATION – GTA

Josh Rosset DISTRIBUTION

distributionteam@nexthome.ca ACCOUNTING INQUIRIES

accountingteam@nexthome.ca BIG STYLE | LISA ROGERS Lisa Rogers is Executive Vice-President of Design for Dunpar Homes. Lisa has shared her style and design expertise on popular television programs such as Canadian Living TV, House & Home TV and The Shopping Channel. Lisa is also a regular guest expert on CityTV’s Cityline. dunparhomes.com.

DIRECTOR OF PRINT MEDIA

Lauren Reid–Sachs

VICE-PRESIDENT, PRODUCTION – GTA

Lisa Kelly

PRODUCTION MANAGER – GTA

Yvonne Poon

GRAPHIC DESIGNER & ASSISTANT MANAGER

Alicesa Pullan

GRAPHIC DESIGNER & PRE-PRESS COORDINATOR

LEGALLY SPEAKING | JAYSON SCHWARZ Jayson Schwarz LLM is a Toronto real estate lawyer and partner in the law firm Schwarz Law Partners LLP. He can be reached by visiting schwarzlaw.ca or by email at info@schwarzlaw.ca or phone at 416.486.2040.

Hannah Yarkony GRAPHIC DESIGNERS

Johannah Lorenzo, Mike Terentiev

Published by

INDUSTRY REPORT | DAVE WILKES Dave Wilkes is President and CEO of the Building Industry and Land Development Association (BILD), the voice of the home building, land development and professional renovation industry in the GTA. For the latest industry news and new home data, follow BILD on Twitter at @bildgta or visit bildgta.ca

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condolife magazine | Jan. 29–Feb. 26, 2022

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Terms Advertisers, Editorial content are not responsible for typographical errors, mistakes or misprints. All prices are correct as of press time.

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DEVELOPMENT

Kingdom Canada introduces Lawrence Hill Luxury Urban Towns With 222 luxury urban towns nestled in a lushly landscaped enclave, close to Edwards Gardens, shopping and transit, Lawrence Hill from Kingdom Canada is a new jewel in the centre of the GTA.

INSIGHT

2021 another strong year for new home and condo sales The pandemic, the economy, materials and labour shortages, rising prices… and still, 2021 will go down as a remarkable year for new home and condo sales.

ADVICE

HOMEBUILDING

4 important steps if buying a home is your New Year’s resolution If buying a new home happens to be on this list, there are many factors to consider, especially interest rates. To ensure you’re prepared, here are four key steps to navigate the homebuying process with ease.

A look at the past and future of National Homes To National Homes, homebuyer satisfaction is everything, and the company has enjoyed notable success across a multitude of elements, including communities, initiatives and philanthropic causes.

Visit or check us out on 14

condolife magazine | Jan. 29–Feb. 26, 2022

In Conversation With... Brian Sutherland, Vice-President of Development, Argo Development Corp.

Things are beginning to take shape at the expansive, multi-year, masterplanned development – Lakeview Village – in Mississauga. The former site of the Lakeview Generating Station will eventually give rise to 8,000 new homes and 20,000 residents.

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IN THE SPOTLIGHT

GTA NEW HOME SALES VERY STRONG IN NOVEMBER, INVENTORIES CONTINUE TO FALL The GTA new home market saw very strong sales in November, the highest for this month in more than two decades, the Building Industry and Land Development Association (BILD) reports.

Total November new home sales of 5,042 were 29 per cent above the 10-year average, according to Altus Group, BILD’s official source for new home market intelligence.

Condominium apartments, including units in low-, mediumand highrise buildings, stacked townhouses and loft units, accounted for 4,274 units sold in November, 56 per cent above the 10-year average. It was the strongest performance of condo apartment sales for the month of November since Altus Group started tracking in 2000.

Sales of new single-family homes, including detached, linked and semidetached houses and townhouses (excluding stacked townhouses), accounted for 768 units sold in November, which was 33 per cent below the 10-year average.

“Housing affordability driven by lack of supply has become a critical issue in the GTA with broad societal implications,” says Justin

Sherwood, BILD’s senior vicepresident. “Housing affordability will be a significant issue in the 2022 provincial and municipal elections.

The current supply challenge is a man-made problem, and BILD encourages candidates to bring forward meaningful supply side solutions in their platforms.”

“New condominium apartment sales soared to their second strongest month ever,” adds Edward Jegg, analytics team leader at Altus Analytics, Altus Group.

“Meanwhile, the new single-family market continues to be plagued by deteriorating affordability with persistent land/lot shortages leading to recurring record monthly prices.”

As condominium unit sales outpaced openings in November, remaining inventory decreased compared to the previous month, to 10,200 units. (Remaining inventory includes units in pre-construction projects, in projects currently under construction, and in completed buildings.) This was still well below the 10-year average of 16,000 units and current inventory represents less than four months’ supply. The benchmark price for condominium apartments increased to $1.08

million in November compared to the previous month, up 7.8 per cent over the last 12 months.

With new single-family home openings low, remaining inventory for single-family homes saw a very slight increase in November compared to the previous month, to 1,188 units. Inventory for singlefamily homes remains close to historic lows. The tight inventory contributed to another record in the benchmark price for new singlefamily homes, of $1.67 million in November, up 33 per cent over the last 12 months.

NOVEMBER NEW HOME SALES BY MUNICIPALITY Condominium units Single-family homes

Total

Region

2021

2020

2019

2021

2020

2019

2021

2020

2019

Durham

149

35

290

260

742

216

409

777

506

Halton

559

474

91

135

322

117

694

796

208

Peel

577

90

385

100

249

251

677

339

636

2,438

716

485

1

33

34

2,439

749

2,224

551

485

621

272

719

516

823

1,204

1,137

5,042 3,865

4,711

Toronto York GTA

4,274 1,800

3,577

5,042 3,865

4,711

SOURCE: ALTUS GROUP

nexthome.ca 15

IN THE SPOTLIGHT

GTA HOME SALES AND AVERAGE PRICE REACH RECORD HIGHS IN 2021 The resale market in the GTA continued its torrid pace in 2021, achieving record highs for both sales and average price, according to the Toronto Regional Real Estate Board.

A record 121,712 sales were reported through TRREB’s MLS system in 2021 – up 7.7 per cent from the previous 2016 high of 113,040 and up 28 per cent compared to 2020. Record demand last year was up against a constrained supply of listings, with new listings up by 6.2 per cent – a lesser annual rate than sales. The result was extremely tight market conditions and an all-time high average selling price of $1.09 million – an increase of 17.8 per cent compared to the previous record of $929,636 in 2020.

“Despite continuing waves of COVID-19, demand for ownership housing sustained a record pace in 2021,” says TRREB President Kevin Crigger. “Growth in many sectors of the economy supported job creation, especially in positions supporting above-average earnings.

Added to this was the fact that borrowing costs remained extremely low. These factors supported not only a continuation in demand for ground-oriented homes, but also a resurgence in the condo segment as well.”

One sales trend that stood out in 2021 compared to 2020 was the resurgence in demand for homes in Toronto. Overall sales in the 416 area code were up by a substantially greater annual rate (36.8 per cent), compared to sales growth for the surrounding GTA suburbs combined (23.6 per cent). The marked recovery in the condominium apartment segment was a key driver of this trend.

“Tight market conditions prevailed throughout the GTA and broader Greater Golden Horseshoe in 2021, with a lack of inventory noted across all home types,” says TRREB Chief Market Analyst Jason Mercer. “The result was intense competition between buyers, pushing selling prices up by double digits year-over-year.

Looking forward, the only sustainable way to moderate price growth will be to bring on more supply. History has shown that demand-side policies, such as additional taxation on principal residences, foreign buyers, and small-scale investors, have not been sustainable long-term solutions to housing affordability or supply constraints.”

In December, GTA realtors reported 6,031 sales – a strong result historically, but still down by more than 1,000 transactions (-15.7 per cent) compared to the record of 7,154 set in December 2020. Over the same period, new listings were down by

11.9 per cent to 5,174. The MLS Home Price Index Composite benchmark was up by 31.1 per cent year-overyear in December. The average selling price was up by 24.2 per cent annually to $1.15 million.

“On February 3, TRREB will release its latest Market Outlook and Year in Review report,” says TRREB CEO John DiMichele. “The report will include survey results and research that will help us navigate 2022 and beyond. The findings will highlight the latest consumer polling on home buying intentions; joint research with the Toronto Region Board of Trade on the future of employment and work; plus an outlook for home sales, listings and pricing over the next year. This will be a must-read report for members, consumers, housing market watchers, researchers and policymakers.”

GTA RESALE AVERAGE PRICES, DECEMBER 2021 (YR/YR % CHANGE) 416

905

Total

Detached

$1.69M (14.9)

$1.56M (33.3)

$1.59M (28.8)

Semi-detached

$1.34M (15.7)

$1.10M (33.7)

$1.18M (25.6)

Townhome

$997,208 (18.3)

$994,101 (33.2)

$994,690 (29.4)

Condo

$730,792 (16.8)

$667,269 (23.4)

$711,933 (18.5) SOURCE: TRREB

16 condolife magazine | Jan. 29–Feb. 26, 2022

In the spotlIght

LIFETIME DEVELOPMENTS ANNOUNCES XO2 CONDOS, ITS SECOND DEVELOPMENT IN KING WEST IN TORONTO

Urban developer Lifetime Developments, in partnership with Pinedale Properties, has announced the second building of its development project in Toronto’s vibrant King West neighbourhood with the launch of XO2 Condos.

XO2 is the encore and sister building to XO Condos, which launched in 2019. With a nearimmediate sell-out for XO Condos, the release of XO2 marks one of the most anticipated launches for Toronto’s 2022 highrise market and among the first in the new year. XO2 Condos will have a total of 410 suites across 19 storeys, located at 1182 King St. W. Committed to building interconnected communities in thriving neighbourhoods, Lifetime Developments once again has brought together best-in-class industry partners for XO2 Condos,

including Turner Fleischer Architects, interior designers Tomas Pearce, and landscape architects Strybos Barron King.

“XO2 has been designed with two key elements in mind – the next generation of homebuyers seeking ownership in a highly accessible area, and addressing the evolving needs of prospective residents in order to lead a health-conscious way of life,” says Brian Brown, principal at Lifetime Developments. “XO2 will be our second development, following Oscar Residences in the Annex, to benefit from two incredible strategic partnerships we solidified last year.

These partnerships with Freemotion Fitness and Clear Inc. provide our residents with future-forward, innovative ways to live a healthy lifestyle right in the comfort of their own homes.”

Lifetime will be introducing an amenity program at XO2 catering to young families and the evolving ways homes must meet people’s needs.

“We remain committed to constantly rethinking our amenity program with each building to ensure that what we’re offering truly enriches life in our buildings,” says Brown.

XO2 Condos will feature approximately 18,000 sq. ft. of indoor and outdoor amenity space, including: • Freemotion Fitness Lab, 3,500-sq.-ft state-of-the-art fitness centre designed and outfitted in partnership with connected fitness experts, Freemotion Fitness, and powered by iFIT, offering live and ondemand studio classes and global workouts • KO-XO Boxing Studio, dedicated boxing area with hanging heavy bags

• Residents Lounge with chef kitchen, dining area, private seating alcoves and a pool table • Outdoor dining and lounge area complete with fireplaces and barbecue stations • The Think Tank, Lifetime’s co-working facility complete with high-speed Wi-Fi, private workstations, a private meeting room and communal-style seating • The Children’s Den, facility complete with indoor creative centre and outdoor playground XO2 Condos will also be the second Lifetime development to incorporate air and water filtration systems in partnership with Clear Inc., which are designed to eliminate viruses, such as the SARS COV-2 version, in enclosed spaces.

XO2 Condos will offer studio, one-, two- and three-bedroom units, in addition to a small collection of two-storey live/work townhomes.

Adding to the vibrancy along King Street, XO2 will also feature more than 15,000 sq. ft. of new retail and commercial space, in addition to commercial parking. xo2condos.com

nexthome.ca 17

IN THE SPOTLIGHT

PRICE GROWTH CONTINUES ACROSS CANADA WITH GTA LEADING THE WAY The aggregate price of a home in Canada increased 17.1 per cent yearover-year to $779,000 in the fourth quarter of 2021. Markets across the country have sustained another year of record prices, as strong buyer demand continues to outpace supply coast to coast, according to the Royal LePage House Price Survey.

“Like a bad dream that disrupts your sleep for months on end, we ushered in 2022 with a fresh round of pandemic restrictions designed to combat a new wave of infections” says Phil Soper, president and CEO of Royal LePage.

“Asked to stay away from the workplace and unable to travel even locally for entertainment, thousands of Canadians have been redirecting their growing savings into improving living conditions, as the family home doubles as an office, restaurant and schoolroom. It has been a busy winter in the housing industry, and a very busy spring looms ahead.”

Broken down by housing type, the national median price of a single-family detached home rose 21.1 per cent year-over-year to $811,900, while the median price of a condominium increased 15.8 per cent to $553,800. Price data, which includes both resale and new build, is provided by Royal LePage’s sister company, RPS Real Property Solutions.

18 condolife magazine | Jan. 29–Feb. 26, 2022

“The shortage of homes available for sale or rent is one of the major social and economic challenges of our times,” says Soper. “Policy makers at all levels of government may take comfort from 2022’s very modest improvement in the supply of available properties relative to demand, yet we see home prices rising at double-digit levels again this year.”

Canada’s chronic housing shortage pre-existed the pandemic, and with growing household formation and more newcomers to Canada adding to demand, affordability threatens to erode again.

“Everywhere, in our largest urban centres, and in the nation’s small and medium-sized towns and cities, new homes are not being built fast enough to satisfy growing demand,” says Soper. “In addition to the slow and expensive regulatory processes that burden builders, construction has been hampered by pandemicspecific challenges, including labour shortages and the increased cost of construction materials as suppliers struggle with supply chain issues.

Some developers have been hesitant to commit to new projects.”

Canada’s inflation rate reached an 18-year high at the end of 2021, driven by increased costs to consumer goods, including gasoline and food, and significant delays in the supply chain. The Bank of Canada is expected to begin increasing its overnight lending rate incrementally later this year, which could result in higher mortgage rates.

“Many industry watchers expect the inevitable rise in borrowing costs will abruptly end the current seller’s market with its characteristic rising home values,” Soper says. “We are experiencing the first expansionary housing cycle, which began in the second quarter of 2020, since the introduction of the federal mortgage stress test. Buyers have had to qualify

for a loan at a rate much higher than what they will actually pay, creating a significant buffer before they reach their capacity to manage larger payments.”

While rising interest rates slow house price appreciation, higher borrowing costs will be coming off historical lows and the increases may not be enough to offset the significant upward price pressure from Canada’s housing supply crisis.

GREATER TORONTO AREA

The aggregate price of a home in the GTA increased 17.3 per cent year-over-year to $1.12 million in the fourth quarter of 2021. Broken out by housing type, the median price of a single-family detached home increased 22.4 per cent to $1.42 million, while the median price of a condominium increased 14.8 per cent to $665,400.

In Toronto, the aggregate price of a home increased 8.1 per cent year-over-year to $1.14 million in the fourth quarter of 2021. During the same period, single-family homes increased 12.5 per cent to $1.58 million, while condominiums rose 13.8 per cent to $711,200.

Royal LePage forecasts that the aggregate price of a home in the GTA will increase 11 per cent in the fourth quarter of 2022, compared to the same quarter in 2021.

ADVICE | STAT CHAT

HOW MUCH IS

TOO MUCH? NEW HOME PRICE GROWTH BECOMING A CONCERN

BEN MYERS

If you happen to be reading my column for the first time, let me reintroduce myself. I am a housing market analyst, and I help builders, developers, lenders and land owners evaluate the potential revenue that could be generated from a development site. In layman’s terms, I tell them what the homes and condos could sell for based on available market data.

My job has gotten a lot more difficult over the last year, as both new single-family and condominium unit prices have skyrocketed, with some areas seeing growth in excess of 40 per cent annually. Projects are selling out in a matter of days, and in many instances, I can’t even get my hands on a price list before it does.

According to the Altus Group, the benchmark price for condominium units in the GTA increased to $1.08 million in November 2021, up eight per cent over the last 12 months.

This is significant growth, but tame in comparison to what is happening in the single-family and townhome segments. The Building Industry and Land Development Association (BILD) recently reported that inventory for single-family homes remains close to historic lows. The tight inventory contributed to another record in the benchmark price for new single-family homes of $1.67 million in November, which was up 33 per cent annually.

In a market study I conducted for a lender, Kitchener townhouse prices

rose 20 per cent over the last nine months. In another one on Whitby, the average single-detached home price was about $910,000 in the first quarter of 2021, but rose to $1.36 million in the fourth quarter. These increases are absurd.

I am reluctant to bring up the “B” word, but we are certainly in a time of exuberance. When conditions got this frothy in 2017, the government stepped in to try to tame the market, and it took years it to recover. Some buyers got stuck with homes that were worth less than they paid for them, and they were forced to get mortgages from alternate lenders.

I’d be lying if I told you I knew when the party would end, and I’ve certainly been wrong before when making housing market forecasts. I would strongly advise against being a shortterm investor, as well as buying a preconstruction condominium with the sole purpose of assigning it prior to completion. I would also suggest that prospective buyers be careful about purchasing new properties in areas that are untested, and which lack the type of amenities and employment opportunities coveted by renters.

The last point above was aimed at investor-buyers, but is worth discussing in further detail. Is the area walkable? Is transit nearby? Is there a college or university, hospital or any other major employment centre close by? Is the area attractive for either young singles and couples, or for move-down empty-nesters? If the answer is not yes for at least two or three of these items, you better be getting a really good deal.

In times of excessive price growth, it can’t hurt to be a little more careful, to do more due diligence. If you’re

being too cautious and miss the latest project release, there will be others.

When the market is strong, developers push up their launches, as they want to strike while the iron’s hot.

Surround yourself with an experienced team, a broker who specializes in new home sales and who can properly advise you on market values, and a mortgage broker who can assess your financial situation and tell you what you can afford. Do your own research – a lot of it. Know the neighbourhood, the developer, the product you’re buying, and read the contract. Good luck.

Ben Myers is President of Bullpen Consulting, a boutique residential real estate advisory firm specializing in condominium and rental apartment market studies, forecasts and valuations for developers, lenders and land owners. bullpenconsulting.ca Twitter@benmyers29

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nexthome.ca 19

#InsidetheGTA

by SUSAN LEGGE

GTA

ST. CLAIR VILLAGE

CANDEREL LAUNCHES SECOND MIDRISE IN ST. CLAIR WEST Canderel has announced the launch of its second midrise condo at St. Clair Village – a 12-storey boutique building which puts residents at the epicentre of gourmet eateries, engaging cultural experiences and a rapid transit system.

“The St. Clair West neighbourhood is one of my favourite pockets in the city.

It’s a tight-knit community, surrounded by great schools, parks and eclectic main street retail, while also being close to some of the city’s most coveted areas, such as Cedarvale, Wychwood and Forest Hill,” says Ben Rogowski, COO, Canderel. stclairvillage.com

Cherry Street South Bridge docks in Toronto This brilliant white bridge with the sunny yellow interior arrived last month from Dartmouth, N.S. and will be the new Cherry Street South Bridge in the Portlands area of east Toronto.

20 condolife magazine | Jan. 29–Feb. 26, 2022

This is the second of four bridges to travel along the St. Lawrence Seaway for the project. They will connect the yet-to-be-constructed community of Villiers Island, says portlandsto.ca. #BridgewatchTO

EX3 penthouse sets new record for condo suite price in Mississauga Camrost Felcorp Inc., the developers of the Exchange District, an awardwinning, mixed-use development in the heart of downtown Mississauga, released details of its 10,000-sq.ft. penthouse suite at EX3 earlier this month.

At a record-setting price of $15 million, the upper penthouse “sets a new bar for condo pricing for the residential real estate market,” says Camrost Felcorp’s vicepresident of sales and marketing, Christopher Castellano. “With today’s penthouse release, Camrost has boldly demonstrated to purchasers, brokers and our development sector colleagues that luxury living has a

Downtown Hamilton project celebrates its unique history The former CHIQ-AM radio station building in downtown Hamilton is about to undergo a revival.

Located at 206 King St. W. at the corner of Caroline Street, the new Radio Arts condominium celebrates the cultural footprint of the former

new home in the GTA, and it can be found in downtown Mississauga.”

Comprising the entire top floor of the 66-storey tower, the suite offers nearly 8,000 sq. ft. of interior living space, with more than 2,000 sq. ft. of balconies with 360-degree views of downtown Mississauga, the Toronto skyline and Lake Ontario.

Castellano says at $15 million, the purchaser of this signature suite won’t likely be motivated by the comparative pricing value of the Mississauga location. “For the purchaser of this penthouse suite, it will be about just one thing – luxury.” camrost.com

CHIQ radio station while providing new opportunities to be part of the city’s growing community.

The distinct 14-storey highrise includes a four-storey podium that pays homage to the original 1908 building design in its masonry details and arched windows.

“Ever since my work on the Pigott Building, I have been fascinated by the home-grown creative energy and entrepreneurial spirit that is reshaping Hamilton,” says Vernon Shaw, founder and president of Canlight Realty Corp. radioarts.ca

Toronto then and wow!

Point2 Homes, a real estate listing platform, is taking Google streetlevel views to the next level with an interactive tool that users control

Before

to reveal “before and after” views of some of Toronto’s most iconic street transformations.

After

The Toronto Then & Now: Overnight Changes, Years in the Making series of images allows users to slide an arrow across photos to reveal the stunning impact that creative architecture brings to our city streets. This before-and-after image of Tridel’s 190-suite condominium at 36 McCaul is just one of several examples. point2homes.com

nexthome.ca 21

ADVICE| |IPSUM WESTERN VIEW LOREM IF NEEDED

WOMEN REPRESENT A

LONG-TERM SOLUTION TO INDUSTRY LABOUR SHORTAGES

MIKE COLLINS-WILLIAMS

Women’s participation in the construction and skilled trades industries has been steadily increasing over the last few decades.

However, female representation in male-dominated professions such as trades, construction and STEM industries (science, technology, engineering and mathematics) remains low. According to Statistics Canada, women make up only 13 per cent of the total workforce in construction, and only five per cent of skilled trades workers.

There are several factors that help explain this significant gender gap, including social pressures, unconscious gender bias, career advancement bias, lack of information, lack of training, or a negative perception of women working in traditionally male occupied industries.

Despite these barriers and troubling statistics, women continue to steadily build their path in the construction and skilled trades Industries. Numerous women in leadership positions across various organizations are making efforts to educate and encourage more women to follow the career of their dreams, regardless of the industry they are in.

The West End Home Builders’ Association (WEHBA) Women in Industry Committee is one of these groups, and aims to do exactly 22 condolife magazine | Jan. 29–Feb. 26, 2022

that: To support, educate, connect and empower women to grow and succeed in non-traditional roles.

The WEHBA’s Women in Industry (WIN) Committee was founded in 2018 and is the first women’s group within a homebuilders association in Canada. Through educational series and events, the committee brings individuals, companies and organizations together to advance gender diversity in STEM, construction, development and the trades industries.

On Oct. 28, 2021, more than 120 women attended the 4th Annual WEHBA Women in Industry Luncheon in Hamilton, under strict health and safety measures. The event’s guest speaker, Jill Dunlop, Minister of Colleges and Universities, talked about the importance of creating better conditions that allow women to succeed and thrive in the workforce, as well as about the need to make the workforce more inclusive for everyone by removing barriers to opportunity and success.

The committee is planning several virtual and in-person events for 2022, including a full-day, handson, educational event that aims to introduce female middle school students to different trades and STEM professions. Through an interactive, one-on-one experience, students from Grades 7 and 8 will be exposed to different, non-traditional career possibilities, and will have the opportunity to learn from established professionals in the various fields.

“In the Women in Industry Committee, we aim to spread awareness and encourage young women to follow a career in the

construction industry,” says Kailey Corby, 2022 Women in Industry Chair.

Through the past couple of years, the committee kept an active digital presence through the hosting of educational webinar series and virtual events. This year, the group is looking to invigorate their virtual programming to keep engagement strong, reach bigger crowds, and consequently make a larger impact.

The skilled trades and construction industries will continue to face major labour shortages. This gap could potentially be a tremendous opportunity for job-seeking women to find employment and establish a successful career, either by entering the homebuilding industry or by transitioning into different roles.

Buildforce Canada estimates that Canada will need to recruit more than 300,000 new workers over the next decade to keep pace with construction demand. It is crucial that we start making steps toward positive, cultural change that will increase inclusion and gender diversity in the industry. During the Second World War, women helped close the labour gap by occupying traditionally male operated jobs; in 2022, it is high time we see women workers as a long-term solution and an equally accepted and capable option.

Mike Collins-Williams, RPP, MCIP, is CEO West End Home Builders’ Association. westendhba.ca.

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ADVICE | LEGALLY SPEAKING

SHOULD YOU ADD YOUR KIDS TO

THE TITLE OF YOUR HOME? JAYSON SCHWARZ, LLM & GREG DUBECKY, JD

As people age, they tend to worry.

And when it comes to real estate, a common concern is what to do about their home. For example, should you leave it to your kids in your will?

Your inclination might be “yes,” but what you may not know is that they would need to pay probate tax on the fair market value. Today, that’s a lot of money.

The process of probate grants or confirms the authority of the Estate Trustee (Executor) to handle the affairs of the estate and is required in most cases for the transfer or sale of any real estate owned by the deceased, that now forms a part of their estate.

When you die, your lawyer applies to the court to issue a certificate.

Subject to where you live, probate applications can take anywhere from more than a month to more than a year before the courts issue a certificate. The worst part is that there is a 1.5-per-cent tax payable up front with the application on the value of all estate assets exceeding $50,000. On a $1-million home, that’s $15,000.

Now, if you add your kids to the deed and you die, they still have the house. Will that work? It sounds like a good idea, because if you registered as joint tenants, whomever is left owns the property without tax. But nothing is that easy.

First of all, when you die, your principal residence has no capital gains when it goes to your kids. If you add someone, the portion that belongs to them attracts tax as the

value goes up after they were added.

Clearly, this is not ideal.

Secondly, if you add your children, they are real owners and could make your life difficult. If you want to sell or take out a mortgage, for example, they could interfere. Also, their problems become yours, in cases of divorce, or adding an in-law suite, for instance.

Thirdly, it might not even be your child you’re dealing with in such instances. While it is not a scenario any parent wishes to consider, you should think through what happens if a child added to the title should predecease you or become significantly disabled.

Depending on several factors, including how they have structured their affairs, you may not simply receive full ownership back, and could instead find yourself negotiating with someone acting under a Power of Attorney or the Trustee of a deceased child’s estate, their spouse, sibling or your grandchildren.

As much as you’d like a clear answer to these questions and scenarios, there really isn’t one. There is no universal panacea. With record high valuations of real estate relative to the incomes of many people, the planning considerations that go into transferring

one’s real estate requires you to consult the appropriate professionals to get an accurate overview of your options. Every person’s situation is different, and usually requires a specific approach.

Initial steps would be to holistically review your estate situation and come up with a plan to minimize tax and maximize any benefits. Sometimes, it is as easy as selling the house to the kids and taking back a life interest; as simple as doing nothing; or as complicated as setting up an estate plan involving freezes, rollovers and other considerations.

The bottom line is – take your planning seriously. Consult experts and make decisions that provide peace of mind and security that you have taken care of your family the best you can.

Jayson Schwarz, LLM and Greg Dubecky, JD, are with Schwarz Law Partners LLP. To suggest topics for future columns or ask questions, visit schwarzlaw.ca or email info@schwarzlaw.ca.

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COVER STORY

HIGHLAND COMMONS NEW ALTREE PROJECT IMMERSED IN NATURE AND STEPS FROM THE UNIVERSITY OF TORONTO

Highland Commons marks Altree Developments’ first residential project in Toronto’s east end. These two wellproportioned midrise buildings sit at the centre point of the enriched community of Highland Creek. Residential suites range from studios to three-bedroom units, with variations of accessible layouts that will accommodate a range of buyers. Additionally, private balconies are of a scale comparable to suite interiors. But there’s more to Highland Commons than its approachable design – Highland Commons offers a lifestyle of urban living immersed in nature.

The area surrounding Highland Commons is known for its lush greenspaces and robust academic offerings.

In addition to having some of Toronto’s largest parks, the Highland Creek neighbourhood is home to leading academic institutions. The University of Toronto, known 24

condolife magazine | Jan. 29–Feb. 26, 2022

for its academia, established its historic Scarborough campus back in the 1960s, and consistently attracts students, young professionals and researchers pioneering the latest innovations.

The U of T – Scarborough campus, connected by treelined streets to Highland Commons, is currently undergoing rapid growth. By 2023, three new facilities will be added.

First, the neo-futurist designed indigenous house, which has already broken ground and will be a high-design and inclusive space. A new student residence building is also being constructed to accommodate students’ overwhelming demand to live close to campus. Lastly, a new technology centre is slated to accelerate student enrollment. As the university grows, the convenient location of Highland Commons indicates incredible opportunities in an established and thriving community.

A GROWING COMMUNITY

Due in large part to capital investments and institutional expansions, it can be expected that the eastern portion of Toronto will become one of the city’s most livable areas.

The federal and provincial governments have recognized the Scarborough subway extension as a shovel-ready project. The Eglinton Crosstown LRT terminates in Scarborough and is expected to be completed in fall of 2022. Municipal leaders have also suggested extending the LRT line further east in the coming years. These core infrastructure projects indicate a direct connection from Highland Commons to the broader Toronto urban network.

“When we first started working on Highland Commons, we knew that this pocket of Toronto had something special that set it apart from anywhere else in the city,” says Zev Mandelbaum, founder of Altree Developments.

“From its historic charm and growing facilities, the neighbourhood is truly unique.”

THE DETAILS IN THE DESIGN

Highland Commons will consist of two eight-storey residential developments, positioned at the corner of Military Trail and Kingston Road – Hwy. 2A. The buildings will sit side-by-side and back onto a ravine and trail

network. The natural tranquility of the surroundings adds a distinct and relaxing effect to modern condominium living.

Kohn Architects took a balanced approach when crafting the architectural facades and features. Variations of tones and textures define the panel cladded facade to create distinction and movement. The majority of units offer floor-to-ceiling windows that maximize natural light. Exterior masonry details are also partially carried into the interior, welcoming in more earthy tones.

Expansive balconies protrude outwards from the face of the building, and are of a scale comparable to interior living spaces to comfortably accommodate private outdoor living.

WELLNESS-ORIENTED AMENITIES

The benefit of a resort-inspired amenity package is that everything to support an active lifestyle is conveniently available. With more than 13 different offerings, Highland Commons pushes the needle forward on wellnessoriented amenities, both inside and out.

Inside Highland Commons is an array of fitness spaces.

A double-height fitness centre overlooks the neighbouring ravine, breathing fresh energy into your strength and aerobic workouts. The space features change rooms, a spin studio, state-of-the-art cardio equipment and free nexthome.ca 25

weights. Additionally, the indoor squash court presents opportunities to work up a sweat with friends and neighbours alike.

Altree Developments elevates social spaces beyond traditional party rooms. Highland Commons has a ping-pong area and a billiards room, affording leisure opportunities and a two-level social space.

A children’s playroom was designed with interactive play and childhood development in mind. A variety of textures, colours and play apparatuses creates countless opportunities for children to connect, learn and grow.

Parents and caregivers also have the pleasure of supervising in comfort with a lounge area.

Ahead of growing demands for flexible work or study spaces, Highland Commons has a co-working lounge with concentrated areas where residents can focus. Students, entrepreneurs, those working from home, or empty nesters can advance their personal and professional goals from the convenience of a communal work space. The curtain wall illuminates the lounge area with warming sunlight infiltrating private work areas that are outfitted with the technology to run a smooth meeting.

Other areas of the co-working lounge encourage collaboration or concentrated study.

A rooftop lounge fitted with fire pits features an awe-inspiring view out towards one of Toronto’s largest

26 condolife magazine | Jan. 29–Feb. 26, 2022

parks. Some other luxurious outdoor facilities are part of the project’s offerings to continue the themes of wellness-oriented amenities.

Highland Commons will offer a full-sized basketball court and lifesized chess and barbecue lounge area for socializing in the summer months. Additionally, the outdoor swimming pool will offer a place to cool off with sizeable lounge chairs, and outdoor restrooms to position yourself all day long.

“The amenities at Highland Commons are our interpretation of a wellness-oriented lifestyle,” says Jordan DeBrincat Mintzas, vicepresident of Altree Developments.

“The community surrounding this project is rich in natural beauty, and it was important that we maximize those views, not just in the units, but also in the shared amenity spaces.”

What really sets this urban project apart is its connection to nature. The

vast parks and greenspaces are key landmarks in the area, and are set to be preserved over time. Nestled behind Highland Commons is Toronto’s natural preserved ravine systems and trails which is home to a vast range of wildlife, such as salmon and deer. From the rooftop of Highland Commons, you look out to the broader natural ecosystem of Toronto’s east end and just a short distance away, you will find yourself perched amongst The Scarborough Bluffs and Lake Ontario, which are some of the city’s natural wonders. At Highland Commons, not only are you connected to Toronto’s urban environment, but you’re completely surrounded by natural ravines, trails and waterways – a perfect place to Live. Connect. Escape.

Register now, and learn more at thehighlandcommons.com

GUEST COLUMN

FOLLOW THE GO FOR A SOLID FINANCIAL OR LIFESTYLE INVESTMENT

MICHAEL KLASSEN

According to Metrolinx, construction will begin this year or next on the GO expansion program, which will offer additional service, faster trains, more stations and convenient connections to a regional rapid transit network.

This 25-year, multi-billion-dollar project also offers tremendous opportunities for residents in the Greater Golden Horseshoe area, as well as investors looking to add lucrative real estate to their financial portfolios.

Historically, homes and condominiums that are situated close to GO Transit increase in value exponentially over those located farther away. The smart approach for both investors and end-users is to watch for where the GO is going – and buy before it gets there.

Investors often think of areas in Toronto where people will want to live – but pay attention to regional economies where people are commuting from the city to outlying areas such as Kitchener-Waterloo to work. In fact, the GO extension to London began in October 2021 through a pilot program providing day service to Union Station via London, St. Marys and Stratford. In addition, this service uses the existing VIA rail line to connect to the Kitchener GO line, and has attracted an estimated 25,000 new riders. Commuting from London to Kitchener via GO train is now a convenient reality.

West Hamilton Harbour is another up-and-coming area benefitting from infrastructure investments. The

expansion has increased the number of trains from 40 per week to 250 each week, day trips to Union Station with hourly service. This is paving the way for frequent service to Niagara, as a Confederate station is planned for the next part of the expansion.

Another strong example is Barrie, where home values have skyrocketed over the past 15 years as infrastructure was added. With downtown Toronto only a one-hour GO train ride away, and trains to Union Station every 15 minutes, Barrie to Toronto is a reasonable commute.

And 33-ft. detached homes in Barrie that were priced from the high $300,000s a decade ago now go for more than $1 million.

Closer to home, Brampton is also receiving day service to Toronto, and the Milton and Richmond Hill lines will offer up to 30 per cent more service with the expansion. Even the announcement that Milton will receive expanded GO service has led to an increase in price per square foot for that municipality.

If you are an investor or a builder looking forward, or if you are looking for a new home to live in that will

earn you substantial equity, think of how well those who purchased close to subway lines in Toronto years ago have done. They have enjoyed tremendous return on investment, and, frankly, they are always making money.

Many other infrastructure expansion and improvements are currently in the works because of the National Trade Corridors Fund – a joint long-term commitment from the federal government to work with stakeholders on strategic infrastructure projects.

Watch where the GO expansions are going, and make your move sooner rather than later. All my personal investments are based on this practice. I’ve been “going where the GO is going” for years, and it has paid off handsomely.

Michael Klassen is the Broker of Record, Eleven Eleven Real Estate Services. Based in Toronto, this firm is a residential preconstruction listing brokerage. 1111realty.ca

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nexthome.ca 27

SPECIAL REPORT | OUTLOOK 2022

POISED TO BE ANOTHER STRONG YEAR FOR GTA REAL ESTATE

By WAyNE KARl

A year ago when we were preparing our Outlook 2021 coverage, we – and virtually all of the sources we quoted in our report – were beyond surprised at how well the previous year had finished, and how strong the market looked for 2021. RBC went as far as to call 2020 “easily the most surprising year in the history of Canada’s housing market.”

During a pandemic.

Well, here we are again, and the outlook for 2022 is for – if you can believe it – more of the same.

“I continue to be shocked by how hot the new home and condo market has been over the past 18 months,” Ben Myers, president of Bullpen Research & Consulting Inc., told Condo Life.

28 condolife magazine | Jan. 29–Feb. 26, 2022

Indeed, as our coverage elsewhere in this issue and within this Special Report: Outlook 2022 illustrates, the economy and housing markets in the GTA and surrounding areas continue to defy the odds and perform remarkably.

Also hard to believe is that it’s all happening – unfortunately, still – during an ongoing pandemic. The new home and resale markets continue to perform at staggering numbers, the challenges of COVID notwithstanding.

The market challenges, whether brought on by COVID, policy or supply chain issues, are not to be overlooked.

They are serious, but that further speaks to the strength and resilience of the GTA.

INCREASING OPPORTUNITIES There is no question that the real estate market in Toronto will remain strong in 2022. One of the benefits of living in such a popular destination in Canada is that real estate opportunities have been consistently increasing year over year, and every indication shows that this should continue for years to come. While this comes with its own set of issues (such as affordability and availability), it’s a great thing for our city overall.

As Toronto continues to develop an internationally renowned reputation as a living destination, housing and affordability will remain controversial topics.

With all the challenges we have experienced over the course of the pandemic, we now see homeowners placing increased importance on where and how they are living, further increasing demand and prices. My advice to prospective homebuyers is to get into the market as soon as possible, because prices will continue to rise. Of course, each person’s propensity to purchase is different based on their spending power, and while pre-construction may not be an immediate solution, it is a great option for many, as it allows purchasers to spread out their deposits throughout the construction process.

JORDAN DEBRINCAT Vice-President Altree Developments

CONTINUING MARKET DEMAND As Toronto continues to be the most livable and opportunistic city in Canada, the record-high federal target of immigrants in 2022-23 are likely to choose Toronto as their home. Coupled with the returning of international students and other newcomers, we anticipate the demand for housing will continue to outpace the supply side of the equation.

Here’s a number of considerations as to why 2022 is poised to be another strong year for GTA real estate – with expert commentary – and some of the challenges to be aware of.

While the general sentiment for interest rates will be hawkish, in order to combat inflation, we expect that any practical schedule of increases shall not derail the fragile economy, and the returning of employment levels shall help to cope with logisticdriven inflation. Also, although the global outlook for COVID may be uncertain, the high vaccination rate in the city is important, and any necessary lockdowns in the province should be more shortlived than previous ones. looking forward, we understand the world is gearing towards NetZero in the foreseeable future, and Aoyuan will work towards developing more technology and environmentally advanced products.

HOUSING AS AN ELECTION ISSUE

The federal election last September proved that housing has rightly become a major concern. All kinds of major bodies, from realty firms to builder associations to economists, have long driven home the point that the issue – lack of supply and deteriorating affordability – needs serious attention. Prime Minister Justin Trudeau can no longer ignore the facts, and the Liberals put forth a number of programs to address the matter.

SUNNY BAO Lead Project Manager Aoyuan International (Eastern Canada)

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EvER-INCREASING POPULATION Projecting the real estate market across the GTA in 2022, from the construction point of view, we foresee a continued strong market – especially for grade-related, single-family homes. One of the greatest challenges will be delivering completed homes under construction because of the shortages in the supply of building materials, as well as a real labour shortage. High schools need to encourage more qualified students to go into the trades, which provide a good career path for them and fill a desperate need for trades.

With ever-increasing population growth across the GTA and the corresponding need for places to live, builders also continue to be challenged by the sclerotic and complex municipal review process, which can go on for years and prevent a builder from proceeding to construction and providing much-needed homes.

LUKE JOHNSTON Executive VicePresident of Development and General Counsel Dunpar Homes

PRESSURE ON PRICES Flato continues to see high demand for the homes and apartments we are building in various communities in Ontario.

We recently advertised a new phase of detached homes, and sold out in just one day. This shows a continued appetite for new homes, even as prices continue to rise. There is a high demand for more space and being part of a growing community.

Demand for housing continues to outstrip supply, and we don’t see this ending soon. We expect immigration will rebound in 2022, which will ensure there is a continued demand for homes and apartments.

Continuing supply chain issues in 2022, due mainly to COVID and the new variants, will increase pressure on both materials and labour. Flato, however is well prepared, and we are still closing homes on schedule.

Flato does see an increasing interest rate environment in 2022. However, we don’t think that there will be major increases, and banks are still doing mortgage stress tests at higher rates than what homeowners are able to borrow at.

SHAUN LEvY Vice President, Finance and Operations Flato Developments

Now comes the opportunity to make the point at the provincial level, on June 2, and in municipal elections, on Oct. 24.

“In the GTA, with housing inventories at near-historic lows, high demand for homes and rapid price escalation, housing supply and affordability will rank alongside COVID-19 recovery as defining election issues,” Dave Wilkes, president and CEO of the Building Industry and Land Development Association (BILD) told Condo Life.

“Insufficient housing supply exacerbates inequality, places a drag on economic growth and threatens the collective quality of life in the economic heartland of Canada.”

The broad consensus is that lack of housing supply is driving the GTA’s affordability challenge. The causes of the supply dilemma are multifactorial and complex, but are rooted in constrained land supply, lengthy building times driven by unnecessarily complicated and bureaucratic approval processes, and a tight supply of skilled labour.

Any long-term solution must be firmly rooted in supply, rather than the tax-and-restrict approaches of trying to cool demand for housing, Wilkes says. Past attempts to cool demand have had short-term, muted impacts at best and created more, not less, burdens for prospective newhome buyers.

“Now that we’re in 2022, we should be wary of anyone who claims that adding taxes or other restrictions will increase affordability. Instead, we must be looking for solutions that will increase housing supply by addressing the root causes of land supply constraints and approval times.

PREPARE FOR RISING INTEREST RATES

A number of experts foresee multiple interest rate hikes in 2022, in part to tame rapid home price growth 30 condolife magazine | Jan. 29–Feb. 26, 2022

LONG-TERM vIEW I always hesitate in trying to predict the future, but when assessing the outlook for 2022, I think about the different scenarios that could unfold, and filter our opportunities through them. There are a few key foundational pieces to keep in mind as we look forward this year. Top of my list is how the central banks will choose to respond to the current inflation threat. Whether they keep the status quo, or interest rates rise quicker than anticipated, I don’t foresee either scenario resulting in a housing market crash, as there likely will not be enough supply to trigger one.

My advice to prospective homebuyers is, if you have the means to purchase or invest in real estate, do it. In the current market, I recommend buyers take advantage of the low interest rates while they can.

However, the decision to buy or invest in real estate should be a long-term one – never buy to make money in the short-term. I suggest always handling this decision with care, and being prepared if there were to be potential spikes in rates or unexpected changes in the economy.

LEE PICCOLI CEO & Founder Fusion Homes

and inflation, and to quell any instability in the market due to COVID. “Fixed rates have already increased by close to a percentage in the last six months,” says Jesse Abrams, cofounder and CEO of Homewise. “So, looking into 2022, we may see slight increases to fixed rates, and up to a oneper-cent increase to variable rates, if the prognosticators are correct. This is a good time to lock into a fixed rate if you are comfortable with it.

“With home prices rising at uncontrollable levels, rate hikes are an immediate way to attempt to stabilize the market. So, if I were a betting man, I would expect three to four increases in 2022.”

The latest rate announcement from the Bank of Canada was Jan. 26 (after press time).

THE RESILIENCE OF THE GTA ECONOMY

A strong economy, and the underlying fundamentals, are everything when it comes to real estate and the demand for housing. Economic growth produces job opportunities, which leads to population growth, housing demand and new home development.

And, though it may surprise you, during the pandemic, the economy here has continued to roar along. In fact, according to the Fraser Institute, an independent, Canadian public policy think-tank, job growth in the GTA exceeds the national average. Other parts of Ontario are a little more challenged.

“Given the sheer size of the Greater Toronto Area and surrounding communities, it is easy to miss the economic challenges faced by many other parts of Ontario when looking at province-wide economic statistics,” says Ben Eisen, senior fellow at the Fraser Institute.

RESEARCH AND PREPARATION One thing we’ve learned during the past two years is to be flexible, not only with many aspects of life, but including major purchases.

With the introduction of hybrid work programs for many, and a shift of life priorities, some find themselves looking for a new home to suit lifestyle changes with a re-prioritization of amenities within and around the home.

With extremely low new lowrise home inventory available, it’s become harder to realize the dream of new home ownership when so few units are available and demand remains high. With a continued shortage of new home inventory expected through 2022, buyers who are flexible with their homebuying choices may experience a more favourable outcome.

To make sure you are well positioned to purchase, be prepared. Know what you want in a new home, and more importantly, what you’re willing to compromise on. Speak with your lender to confirm what you can afford prior to researching online, visiting sales offices or booking showings.

Albeit mortgage rates are anticipated to rise this year, rates remain exceptionally low, and there will continue to be purchase opportunities available. With a well-researched plan, and some flexibility built in, when you find the right home, being prepared will allow you to act quickly and with confidence.

STEPHANIE LANE Director, Sales & Marketing Geranium

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HOMEBUYER FOCUS National Homes has always focused on the wants and needs of our customers, above all else.

Moving into 2022, listening to homebuyers is more important than ever. Through research and technology, such as National’s unique yOUprint survey, we intend to learn exactly what modern families look for in a new home, and a new community.

For example, to address the affordability issues in the GTA, some of the townhome designs at National’s upcoming Whitehorn Woods community in Mississauga will include the potential for a future rental unit within the home. Not only does this offer an incredible investment opportunity, but also helps to offset mortgage payments.

For many years now, the industry has run into issues with the supply chain and increasing demand. We believe that by implementing new technologies across the GTA, we can increase efficiency to help ease the pressure on the supply chain and streamline the homebuilding process.

When it comes to demand, National Homes has embraced gentle density through existing and upcoming townhome communities. In partnership with Brixen Developments, DUO Condos, coming to Brampton in early 2022, adds high density to National’s repertoire, while working to meet rising real estate demands.

DEENA PANTALONE Managing Partner National Homes

REMARKABLE ADAPTABILITY The new home market performed remarkably well in 2019, 2020 and 2021 despite all the challenges we faced, which is a tribute to the adaptability of this industry. This year promises to also be great, for several reasons. The fact that demand exceeds supply in the GTA is still a large factor in sales.

With strong immigration expected on an ongoing basis, that scenario will continue for the foreseeable future. Even if interest rates rise, they will still be historically low – a fact that has enabled people to buy who might not otherwise be able.

All our StateView communities were fully reserved in 2021, including The Enclave in Kleinburg, which won two BIlD Awards, as well as two marketing awards at the Nationals. In 2022, we will go on sale with Elia Collection near the intersection of Muriel and Gorham Streets in Newmarket. This enclave of just 57 traditional and urban townhomes in three styles will be ideal for families and empty nesters.

We have other communities coming as well, and we look forward to another exciting year.

JULIAN UCCELLO President of Sales StateView Homes

32 condolife magazine | Jan. 29–Feb. 26, 2022

In the context of real estate, the GTA continues to be a high performer.

“Investors continue to seek out opportunities in smaller municipalities, and developers are offering more Torontostyle developments in the 905 and even the 519 areas – very small units, lots of amenities and high-quality interiors,” says Myers.

“Increases in construction materials and labour, government fees and new planning requirements continue to push up costs at an unprecedented level, leading new condo prices to rise faster than resale pricing. This will ultimately result in a reduction in purchases by investors that intend to hold shorter-term.”

Smaller developers may push back their launches until there is more certainty and stability in terms of construction cost inflation, Myers says, and the Omicron variant may temper some of the 2021 enthusiasm by investors. Lastly, so much product came to market in 2021, that there is not as much in the pipeline for 2022, as many developers concentrate on finishing their existing projects and not stretching themselves too thin.

Bullpen is forecasting a sales year closer to the 10-year average, but continued price growth in the range of four to seven per cent annually.

THE STRENGTH OF ONTARIO REAL ESTATE

Home price growth is expected to continue in Canada this year, with Ontario leading the way. According to the 2022 Canadian Housing Market Outlook Report from ReMax Canada, average residential sales prices across the country will rise 9.2 per cent, thanks largely to the ongoing housing supply shortage, inter-provincial migration and other factors.

“The inter-provincial relocation trend that we began to see in the summer of 2020 still remains very strong and is expected to continue into 2022,” says Christopher Alexander, president, ReMax Canada. “Less dense cities and neighbourhoods offer buyers the prospect of greater affordability, along with livability factors such as more

ONGOING APPETITE We have a very optimistic outlook for 2022, despite the ongoing and ever-changing measures related to COVID. Our community development and homebuilding focus remains in our own backyard – the Simcoe and Grey County regions. These areas continue to defy market expectations, as people from the GTA find the prospect of comparably more affordable real estate coupled with a more relaxed and enriched lifestyle.

The imbalance of housing supply and the ongoing appetite for homeownership will likely continue to push home prices higher. Although indicators suggest mortgage interest rates will rise, other economic factors, such as a strong job market and wage growth, will likely offset any real market cooling.

MIKE PARKER Vice-President, Sales & Marketing Georgian Communities

space. In order for these regions to retain these appealing qualities and their relative market balance, housing supply needs to be added. Without more homes and in the face of rising demand, there’s potential for conditions in these regions to shift further.”

Despite the global pandemic, many Canadians still feel confident in the real estate market. According to a Leger survey conducted on behalf of ReMax Canada, 49 per cent of Canadians believe real estate will remain one of their best investment options in 2022. Additionally, 49 per cent of Canadians are confident the market will remain steady next year.

Market activity across Ontario is expected to remain steady in 2022, with continued average price growth, although at widely varying degrees.

ReMax anticipates average sale price increases in smaller markets such as Collingwood/Georgian Bay (10 per cent) and Muskoka (20 per cent) to be driven by the move-over trend. In larger markets, such as Durham (seven per cent), Brampton (eight per cent), Toronto (10 per cent) and Mississauga (14 per cent), the key driver is likely to be immigration.

UNPRECEDENTED DEMAND I’m confident that the real estate market will remain strong in 2022. Housing supply will remain an issue and will be the leading cause of price increases, alongside a rise in lending rates.

Despite housing shortages and factors such as urban dwellers moving outside the city and interprovincial movement, I remain confident in Toronto. We are a world class city, and there will always be a market for people who wish to remain here as both residents and investors.

I would encourage prospective homebuyers to enter the market when you can, especially if you have your heart set on Toronto. I believe this market’s value will continue to rise, and this unprecedented demand will not see relief until we’re able to produce more housing across the city.

BRIAN BROWN Principal Lifetime Developments

HOTTEST MARKETS IN ONTARIO BY FORECAST 2022 AVERAGE PRICE GROWTH MARKET Muskoka Burlington Hamilton Barrie Mississauga Niagara York Region Toronto Peterborough/Kawartha London Collingwood/Georgian Bay Brampton Oakville Durham Region Kitchener-Waterloo

2021 price $624,464 $1.06M $784,054 $770,000 $1.01M $689,648 $1.27M $1.05M $685,298 $633,700 $859,224 $1.08M $1.57M $914,548 $785,607

2022 price estimate $749,356 $1.24M $909,502 $885,500 $1.150M $786,198 $1.40M $1.16M $753,827 $697,070 $940,850 $1.17M $1.69M $978,566 $832,743

% increase estimate 21/22 20 17 16 15 14 14 10 10 10 10 9.5 8 7.5 7 6

Source: reMax 2022 canadian HouSing Market outlook report

nexthome.ca 33

SPECIAL REPORT | OUTLOOK 2022

PROVINCE PLEDGES TO SPEED UP APPROVALS,

BUILD MORE HOMES WITH NEW INITIATIVE After years of warnings from homebuilders and others involved in Ontario’s housing industry – pointing to the worsening supply and affordability challenges – the provincial has pledged to cut red tape and speed up approval processes.

Following the Housing Summit on Jan. 19, Premier Doug Ford announced more than $45 million for a new Streamline Development Approval Fund to help Ontario’s 39 largest municipalities modernize, streamline and accelerate processes for managing and approving housing applications. The move allows municipalities to begin implementing online systems that make it easier for applicants to navigate the development approvals

HOUSING AFFORDABILITY TASK FORCE Jake Lawrence Chief Executive Officer and Group Head, Global Banking and Markets, Scotiabank – Chair Lalit Aggarwal President, Manor Park Management David Amborski Professional Urban Planner and Professor, Ryerson University’s School of Urban and Regional Planning Julie Di Lorenzo President, Diamante Urban Corp.

Andrew Garrett Senior Principal, Real Estate Investment Management Corporation of Ontario Tim Hudak Chief Executive Officer, Ontario Real Estate Association Justin Marchand Chief Executive Officer, Ontario Aboriginal Housing Services Ene Underwood Chief Executive Officer, Habitat for Humanity Greater Toronto Area David Wilkes President and CEO, Building Industry and Land Development Association

34 condolife magazine | Jan. 29–Feb. 26, 2022

process, manage their applications and receive timely status updates.

Ford and Steve Clark, minister of municipal affairs and housing, met with big city mayors and regional chairs to discuss the housing crisis and coordinate efforts to increase the supply of homes across the province. The virtual summit provided provincial-municipal leaders with an opportunity to share best practices, identify persistent issues and collaborate on ways to build the right mix of housing.

“Young families, seniors and all hardworking Ontarians are desperate for housing that meets their needs and budget,” says Ford. “At a time when our province is growing, our government will continue to use every tool we have to help municipalities get more homes built faster to help more families realize the dream of homeownership.”

“After a decade of mismanagement and inaction under the previous government, the housing crisis in Ontario will not be solved overnight or in one meeting – addressing housing supply is a long-term strategy that requires long-term commitment, collaboration, and coordination,” says Clark. “(The) Summit was an important next step to identify what additional measures we can take to increase the supply of housing and make it easier for Ontarians and their families to find a home that meets their needs and budget. As we continue this dialogue, our government will ensure municipalities have the tools and resources they need to unlock housing in every community across Ontario.”

The government also announced more than $8 million through the Audit and Accountability Fund to help large urban municipalities identify potential savings and efficiencies through third-party reviews to further accelerate the creation of new housing and modernize municipal services.

As an additional measure to help build more homes faster, the province also committed to work with the municipal sector to develop a data standard for planning and development applications to help accelerate approval timelines. Built with municipalities, data standardization will help improve the quality of data, create consistency across systems, make it easier

to measure results, reduce costs for business and governments, and support municipalities’ transition to digital service delivery and digital approvals.

The government’s housing policies under More Homes, More Choice: Ontario’s Housing Supply Action Plan, are working to increase the supply of the full range of housing options, from single-family homes to midrise housing to purpose-built rental apartment buildings.

In 2020, the year after More Homes, More Choice was implemented, Ontario saw the highest level of housing starts in a decade and the highest level of rental starts since 1992.

The government is working with municipalities to ensure they have the tools they need to unlock housing through the Summit, as well as a Rural Housing Affordability Roundtable with rural, remote and northern municipalities on Jan. 23. It is also engaging with industry experts on the Task Force, and recently held an online public consultation to communicate the province’s next steps on additional measures that will help more Ontarians find the home that is right for them.

“We are very encouraged and supportive of the Provincial Housing Summit held with municipalities from across Ontario, and thankful to the Province for its leadership,” says Dave Wilkes, president and CEO of the Building Industry and Land Development DAvID WILKES Association (BILD), and a member of the Task Force. “Housing affordability and supply is a top issue, particularly in the GTA, and having a common approach to tackling this crisis is vital.

“We are also pleased to see the municipal reactions to the summit, like that of Mayor of Markham, Frank Scarpitti, who yesterday put forward some innovative ideas on how to tackle parts of the issue. BILD and its members look forward to partnering with the province and municipalities of the GTA to build the new homes our dynamic and growing region requires.”

“It is often said that in real estate, it’s location, location, location,” Scarpitti says. “In planning for growth and housing supply, it’s process, process, process.

“It’s time to update provincial legislation and regulations to give municipalities more autonomy so that we can bring housing units to market more efficiently. This does not mean turning our backs on the environment, nor does it mean lowering design standards.”

BUILDING INDUSTRY APPROVES OF CHANGES TO DEVELOPMENT PLAN The Residential Construction Council of Ontario (RESCON) is encouraged that the provincial government is taking a leadership role to help municipalities cut red tape and develop a data standard for planning and development applications that will speed up approval timelines and accelerate the production of new housing.

“We are delighted that the government is moving to modernize and streamline the system and assist municipalities transition towards digital service delivery and approvals,” says RESCON President Richard Lyall.

“Municipalities need a standardized development approvals process and e-permitting system to help reduce the amount of time it takes to get housing projects approved in Ontario.

“The housing crisis has been growing and shows no sign of abating. The more than $45 million announced for a new Streamline Development Approval Fund will help municipalities digitize their services, reduce costs for developers and governments, and lead to increased supply of housing.”

Ontario has taken steps to improve the situation via the More Homes, More Choice plan as well as a new Housing Affordability Task Force, RESCON says, but more action is needed as the population is growing and housing prices are rising.

Canada’s population-adjusted housing stock is the lowest of any G7 country. Another 650,000 homes would have to be built to get Ontario to the same level of homes per capita as the average in other provinces. An additional 1.2 million homes would have to be built for Ontario to catch up to international peers.

“We are in desperate need of new housing, so the initiative is a good fit,” says Lyall. “The province needs a standardized development approvals process and streamlined e-permitting system to help reduce the amount of time it takes to get housing projects approved. Bottlenecks in the systems are slowing development approvals. This initiative would give municipalities the tools to enable homes to be built faster.”

nexthome.ca 35

ADVICE | HOME REALTY

RESOURCES TO HELP WITH YOUR

HOMEBUYING HOMEWORK Cobie by Marshall Homes

DEBBIE COSIC

If you are thinking of buying a new home or condominium in Ontario for the first time, congratulations. You’re about to embark on one of the best life steps you can take. You may even be a newcomer to Canada looking to purchase your first home or condo in this country. Either way, know that there are invaluable resources out there to help you make the best possible decision. Below are a few websites you can research to help answer your questions.

The Government of Canada (canada. ca) offers a wealth of information.

• Search “buying a home,” and a page from the Financial Consumer Agency of Canada includes topics such as figuring out how much you can afford for a home, saving toward the purchase, paying for your home, tax credits for homebuyers, homebuying costs, working with a real estate agent, buying a condo, buying to rent and what to consider if you are an immigrant. There is even a step-bystep guide you can use to decide whether homeownership is right for you. It’s well worth a visit.

• Search “buying a home in Canada,” and a page by the Government of Canada has to do with newcomers who are looking to purchase a home here in our country. It links to the following resources from the Canada Mortgage and Housing Corp. (CMHC).

36 condolife magazine | Jan. 29–Feb. 26, 2022

- Buying Your First Home in Canada: What Newcomers Need to Know • CMHC also links you to Canada’s homebuyer incentives and rebates.

- The First-Time Home Buyer Incentive allows eligible first-time homebuyers with the minimum down payment for an insured mortgage to apply to finance a portion of purchase through a shared equity mortgage with the Government of Canada.

- The Home Buyers’ Amount offers a $5,000 non-refundable income tax credit on a qualifying home acquired during the year (up to $750 in federal tax relief).

- Home Buyers’ Plan (HBP) allows you to withdraw up to $35,000 in a calendar year from your RRSPs to buy or build a qualifying home.

- GST/HST New Housing Rebate – Find out whether you qualify for a rebate of part of the GST or HST you paid on the purchase price of your new home.

If you are considering a condominium, check out these sources: • CMHC’s Condominium Buyer’s Guide covers the basic information you need to know, from figuring out

whether a condo is right for you, to checklists, tips, FAQs and even a glossary of terms.

• Condominium Law Changes on ontario.ca covers the amending of the first overhaul of Ontario’s condo law in more than 16 years, with enhanced consumer protection.

These are just a few resources available to you. Choosing to buy new is a great decision on your part. The main thing is to use all the tools at hand to make sure you take advantage of every program you qualify for and make the right new housing choice for you.

Debbie Cosic is CEO and founder of In2ition Realty. She has overseen the sale of more than $15 billion worth of real estate. With Debbie at its helm, In2ition has become one of the fastest-growing and most innovative new home and condo sales companies. in2ition.ca

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NEIGHBOURHOOD WATCH

MARKHAM CONDOS LEAD IN PRICE GROWTH IN ONE OF ONTARIO’S HOTTEST MARKETS

by WAYNE KARL

As the fourth most populous community in the GTA – after Toronto, Mississauga and Brampton – Markham has been a hotbed for economic growth and development for years.

It’s long been known as a centre for growing sectors such as technology and life sciences – and therefore employment growth – one of the key drivers of housing demand.

Today, Markham is home to more than 1,000 such companies, with IBM, Huawei, Honeywell, Advanced Micro Devices, Motorola and Oracle all having their Canadian headquarters located in the city.

RESIDENCE HAS ITS PRICE

Buying a home in Markham may cost you, though, as it has also become one of the GTA’s most expensive housing markets.

According to the Royal LePage Home Price Composite for the fourth quarter of 2021, aggregate home prices grew 28.6 cent year-over-year to $1.32 million. Condominium prices, however, were the star performer – surging 32.3 per cent to $743,400.

New-home development is a priority for the City and Mayor Frank Scarpitti, who was first elected in 2006 and is known as developerand builder-friendly. The city has a number of new home developments underway, including some highprofile condo and lowrise projects.

Rouge River in Markham

The revitalization of Downtown Markham has been spearheaded by The Remington Group’s multi-use development along Main Street, which includes expansive retail shops, a Marriott Hotel, a Cineplex, as well as a variety of condos and townhomes.

CULTURAL DIVERSITY

Culture is also an important attraction in Markham, with The Flato Markham Theatre offering more than 300 live performances each year, showcasing the diversity of the city. In addition, the Varley Art Gallery encompasses the historic Kathleen McKay House, which was the home of the Group of Seven’s Frederick Horsman Varley for the last 12 years of his life. The gallery is the second most popular tourist attraction in York Region.

Markham also has dozens of parks with baseball diamonds, soccer pitches and children’s play areas and splash pads.

The city also boasts more than 22 kms of scenic pathways with 12 bridges that provide recreational activity for joggers and cyclists.

The largest park in the city is the Milne Dam Conservation Park. Measuring 305 acres, it is bordered by thick forest on the south and east and the Rouge River runs through the middle.

Getting around Markham is facilitated by easy access to Hwys. 404 and 407 and the DVP, and for public transit, York Region Transit/Viva connects with all nine York Region municipalities, and GO Transit provides regular train and bus service.

MARKHAM HOME PRICE GROWTH, Q4 2021 MARKET Condominiums Single-detached Aggregate home types

Q4 ‘20 $561,900 $1.32M

Q3 ‘21 $690,500 $1.48M

Q4 ’21 $743,400 7.7 $1.59M

Q/Q % CHG 32.3 7.3

YR/YR % CHG

$1.02M

$1.26M

$1.32M

4.5

28.6

20.8

+ LOCATION, LOCATION, LOCATION Population of 328,940, located in the Regional Municipality of York in the GTA; distance from downtown Toronto, 30 km KEY LANDMARKS Flato Markham Theatre Varley Art Gallery Milne Dam Conservation Park Angus Glen Golf Club SELECT CONDO DEVELOPMENTS Canvas on the Rouge

By Flato Developments flatogroup.com Gallery Towers

By The Remington Group remingtongroupinc.com LivGreen2

By Ledgemark Homes livgreen2.ca Panda Markham

By Lifetime Developments lifetimedevelopments.com Riverview

By Times Group Corp. timesgroupcorp.com Vendome

By H&W Development hwdevelopments.ca NOTABLE NEIGHBOURHOODS Visit nexthome.ca Angus Glen Berczy Cornell Rouge River Unionville

SOURCE: ROYAL LEPAGE HOUSE PRICE COMPOSITE

nexthome.ca 37

ADVICE | THE MARKETING EDGE

2022… TWO ELECTIONS, ONE FOCUS…

HOUSING SUPPLY ANDREW BRETHOUR

The headlines are constant and challenging…

• Prices up 26.5 per cent – that’s 40 per cent in two years • Supply at the lowest level in history at only 3,200 units • More than 64,000 families leave the GTA seeking affordable housing in small town Ontario • Canada has lowest level of housing units per capita in G7 I can’t remember in my more than 44 years in this business when the issue of housing supply reached such a crescendo. It’s at the centre of all media reports, political debates at all levels and in every backyard or balcony conversation in the country every day. Most of the discussion is focused on affordability. Or is it affordable housing, as there is an important distinction?

There is a critical difference between affordable housing and the provision of social housing, and housing affordability and the provision market housing. We have failed miserably in the provision of both, as supply has fallen woefully behind need and demand.

Through the 1980s and ‘90s, the federal government – through Canada Mortgage and Housing Corp.

(CMHC) – funded social housing initiatives across the country. There was a strong and constant provision of “not for profit” and sponsored co-operative housing forms, both contributing to a much-needed base on the social scale. Funding for this

38 condolife magazine | Jan. 29–Feb. 26, 2022

type of housing collapsed in the ‘90s, as the cost of deliverable units exceeded consumers’ and politicians’ expectations for the expenditure. But it didn’t have to end. The concept was sensible, but the delivery and costs became prohibitive.

This type of public/private partnership needs to be reactivated to address the shortfall of social housing– for new immigrants, single-parent households, those in economic stress and for the homeless. The federal government needs to reinvent social housing policy, take the lead with its partners – the Province, municipalities and private sector – and throw its support behind social housing.

The supply of market housing was seriously impacted by the introduction of the Growth Plan by the McGuinty provincial government in 2004-05. The seemingly good intention at the time was to “intensify” housing development into higher density forms, thereby creating cost efficiency and containing urban sprawl. It worked – the market absorption stayed at 40,000 units per year, but quickly flipped to 60 per cent high density. The unintended consequence was the direct restriction of lowrise suburban housing; an artificial containment of supply drove the underlying value of the land skyward. The average price of all housing in the GTA in 2004 was just $315,000. At the beginning of 2022, it is a whopping $1.09 million – a 350-per-cent increase in 17 years, or 20 per cent per year. No wonder the GTA has been seen as the housing capital of North America.

The real issue is, now, where are our children going to live? How can the GTA compete for new

employment, industry and technology investment when our housing prices have the dubious distinction as the fifth most expensive in the world? It will take a down payment of $220,000 to buy that $1-million average home, and a combined qualifying family income of more than $160,000. Will the GTA become a place of renters, as lower and middle income families are shut out of the housing market?

Exacerbating the situation is that there is no rental supply in the market, either – a factor of rent controls since 1972. So, we have reached the perfect storm: A dynamic and diverse city, where 54 per cent of its inhabitants were born somewhere else in the world, where 125,000 new immigrants arrive each year, only to find nowhere to live.

Market housing supply must increase dramatically in the 905, 519 and 705 areas in order to stabilize price escalation, and to provide critical choice of “affordable” product.

There are four basic policy initiatives required to increase supply: 1. Political will: It is crucial to elect leaders who support managed growth and who are willing to say YIMBY – Yes in My Backyard.

2. Streamlined approval process: According to a recent study by the Building Industry and Land Development Association, it takes 10 years to bring a vacant piece of land to development. With the cost of money doubling every five years, is it any wonder our housing is so expensive?

3. Infrastructure investment: The joint levels of government, together with private partnerships, need to expand our capacity for roads, sewers, water and transit. We

cannot leave this cornerstone supply driver to the public sector (Hwy. 407 being a classic example).

4. Foster innovation: Housing form has literally followed essentially the same pattern since the turn of the 19th century, when zoning bylaws were first introduced. We need to reward creativity, and in delivering more affordable product, we encourage innovation. Review and eliminate restrictive zoning, and watch housing innovation soar.

If we allow 5,000-sq.-ft monster homes to be built, why would we object to the same piece of land to instead be used for a building with five, 1,000-sq.-ft. units?

There are both short- and longterm solutions to the supply crisis: SHORT-TERM SOLUTIONS

1. Release surplus employment lands adjacent to existing residential.

2. Release identified surplus government agency lands.

3. Free up zoning restrictions to afford the immediate conversion of neighbourhood strip malls built in the 1950s to be converted to residential.

4. Allow the private sector to bring lands into an urban boundary – if companies will front the infrastructure costs.

5. Establish the office of the Development Ombudsman to unclog the process and be arbiter between opposing forces.

LONG-TERM SOLUTIONS

1. Review approval processes and create new approval targets.

We must reduce the 10 years it currently takes for project approvals – to two years. Time is money.

Literally.

2 Review current municipal financing methodology. Should the cost of infrastructure be moved from municipal to provincial responsibility, at least for sewer, water and transit? We have burdened new-home buyers with the inclusion of infrastructure costs approaching 25 per cent of home prices. This needs to be shared by

a broader constituent, including the private sector, but with a much more efficient structure, and ultimately lower home price.

3. Modify the Growth Plan and provincial policy statements to encourage suburban housing growth. Even today, the GTA homebuilding industry is developing suburban tracts at higher densities than comparable urban neighbourhoods.

4. Create and meet housing production targets. For example, from 1997 to 2005, our firm, together with Malone Givens Parsons, produced an annual supply of lots and highrise units for the 37 municipalities around the GTA. We created an annual report of the actual inventory, by product type and lot size, registered plans for the subdivision, draft plans and plans in process – sponsored by the Province and CMHC. It was cancelled by the McGuinty government in 2005 when the Growth Plan was introduced. When you don’t know the real data, any policy can be justified. These kinds of reports need to be reconstituted, and today involve the municipalities in 519 and 705. Historic absorption has maintained an annual pace of 40,000 units per year since 2004.

But the housing form components

have changed. We now have the lowest number of housing units per capita in the G7. We need to double our annual production to 80,000 units per year over the next five years just to catch up with demand.

So, we have two upcoming elections, but with one focus – housing. As the Chairman of Mattamy Homes, Peter Gilgan, said recently…

“We are in a war to increase housing supply.” It’s not a war against any particular advisory –we all have to work together to win this war. Let’s bring the financial muscle and policy focus to this war on housing supply, and the affordability challenge will be the beneficiary.

But, you have to vote. Vote – in June provincially, and in November, municipally, for leaders who understand the challenges and who will take action with short- and longterm supply side solutions.

There will be no more important elections in our lifetime than these two in 2022.

Andrew Brethour is Executive Chairman PMA Brethour Realty Group. pmabrethour.com.

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ADVICE | REAL ESTATE PRO

MUNICIPALITIES MUST DO THEIR PART FOR HOUSING AFFORDABILITY

BARBARA LAWLOR

We hear and read a lot about the housing affordability crisis in Toronto and the Greater Toronto Area. Developers and builders of new homes and condominiums get unfair negativity when the subject is covered. They want to sell homes, and raising prices hamper potential purchases. It is important that people understand where these price increases come from.

For example, did you know that municipalities, which continually require more for development charges, keep incredible amounts in cash reserves paid through taxes on new housing? BILD commissioned Altus Group to conduct a study of 16 municipalities across the GTA. The result was that these municipalities collectively had more than $5 billion in cash reserves on hand at the end of 2019. Toronto alone had $2.6 billion in reserves.

These amounts of money come from a variety of development charge elements, including cash contributions and facilities that provide some compensation to communities for increased density and/or height. The City has collected far more than it has spent, yet continues to hike rates and, in turn, new home condo prices.

How to spend these cash reserves is the choice of municipalities. At the very least, they could reduce or, as BILD President and CEO, 40

condolife magazine | Jan. 29–Feb. 26, 2022

David Wilkes, says, “at least cap” development charges on new homes and condos to “make a dent in the housing affordability challenge the region is facing.”

Municipal fees and charges are the biggest component of taxes on new homes and condos, making up 22 to 24 per cent of their costs. The potential for municipalities to help alleviate the current housing price challenges are enormous.

The escalating cost of new homes and condos is not a case of developers and builders raising prices out of greed. Consider the fact that the costs of materials, labour, administration, architectural services and marketing services go up every year, as well.

And to be fair, new home construction, along with the professional renovation industry, creates thousands of well-paying on- and off-site jobs and contributes billions of dollars to local, provincial and national economies. Now that housing has reached national prominence in Canada with a new housing minister, it is time for the other levels of government to do more

to solve the supply and affordability dilemmas we find ourselves in.

Our current situation is also a testament to the resilience of the new home industry and new-home buyers in the face of rising costs, the pandemic and the challenges it has brought. With ongoing immigration, the demand for new homes and condominiums will continue to rise along with the prices. Developers and builders take a lot of heat in the media, but they are doing all they can to cope in these difficult times.

We need more accountability and transparency on the part of our municipalities when it comes to how they collect and spend development charges. As the saying goes, the ball’s in their court.

Barbara Lawlor is CEO of Baker Real Estate Inc. A member of the Baker team since 1993, she oversees the marketing and sales of new home and condominium developments in the GTA, Vancouver, Calgary and Montreal, and internationally in Shanghai. baker-re.com

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ADVICE | REAL INSIGHT

HOUSING SUPPLY SOLUTIONS: BETTER LAND-USE AND MORE MID-DENSITY HOUSING

JASON MERCER What makes Toronto one of the most unaffordable cities to live in? Immediately, a tight supply of homes and a high demand from buyers comes to mind. But, there are two solutions on the table to help build more new homes in our communities.

In a recent episode of TRREB’s Ready to Real Estate podcast, I spoke with David Amborski and Frank Clayton, researchers at the Ryerson University Centre for Urban Research, about how policymakers can improve current policies to boost supply in our growing region.

The CUR argues that the Greater Toronto Area needs improved land-use planning systems – the framework through which

municipalities manage their growth and development while addressing important social, economic and environmental concerns. In the episode, we learned that several municipalities do not regularly report on available land for housing development. Amborski and Clayton point out frequent reporting and a review of available development land will help policymakers better respond to shortfalls in supply across the GTA. This is also a critical step to understanding how land is currently used and how it can be used.

Incentivizing mid-density housing should be another key initiative to address the lack of housing supply and provide a greater diversity of housing types. There needs to be a strong effort to increase building homes such as townhomes, duplexes and lowrise walk-up apartments.

Policymakers must address the needs of all people in the city and bridge the gap between detached homes and

condominiums. That’s why Amborski and Clayton recommend consulting with buyers who might benefit from mid-density homes. It comes down to hearing from more voices in the early stages of rezoning on a neighbourhood-by-neighbourhood basis to help evaluate how to increase supply, as well as ways to support affordability for those entering homeownership.

If you’re interested in tuning into more conversations on housing supply, search for TRREB’s Ready to Real Estate podcast. Hear what industry experts have to say to meet the growing needs of the GTA. Mark your calendars for the release of TRREB’s 2022 Market Outlook & 2021 Market Year in Review report, on Feb. 3, 2022. Discover the market outlook, including the average price and sales set out for the next twelve months.

Stay up to date with our monthly Market Watch. We break down prices, sales, and new listings each month with an at-a-glance report. Visit trreb.ca to explore the latest on the housing market. Plus, connect with a TRREB member realtor and search listings in real time on any device.

Jason Mercer is TRREB’s Chief Market Analyst. His sought-after market analysis helps realtors and their clients understand housing trends and underlying economic drivers in the GTA.

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nexthome.ca 41

ADVICE | PERSONAL FINANCE

NEW TO CANADA? HERE’S HOW TO QUALIFY FOR A MORTGAGE NEWCOMERS TO CANADA PROGRAM

JESSE ABRAMS

If you’re new to Canada and looking to apply for a mortgage, you’re probably wondering where to even begin. Buying a home, especially in a new country, can be overwhelming.

But it’s important to know that in Canada, there are plenty of helpful resources to get you on the right path.

42 condolife magazine | Jan. 29–Feb. 26, 2022

A great place to start is “Newcomers to Canada” at cmhc-schl.gc.ca, a housing program offered by Canada Mortgage and Housing Corp. (CMHC) that provides financial assistance and makes it easier for new immigrants to purchase a home. If you qualify, you can make a down payment as low as five per cent on a home worth up to $1 million. If you’re looking to buy a home for more than $1 million, you’ll likely be paying a down payment of 35 per cent or higher. When it comes to credit, permanent residents

must have at least one borrower with a minimum credit score of 680 to qualify. If you don’t have credit history, CMHC may consider alternative ways to verify your credit.

WHERE CAN YOU GET A MORTGAGE IN CANADA AS A NEWCOMER?

When it comes to getting a mortgage, there are A and B lenders. Traditional lenders, such as banks, monoline lenders and credit unions, are considered A lenders. They focus on customers with strong credit scores (or proof of credit) and a reliable source of income. On the other hand,

The amount you’re eligible to receive will depend on the size of your down payment. Another thing to note is that your down payment can come from various sources, such as savings, the sale of another property or a financial gift from a family member or friend.

HOW LONG WILL IT TAKE TO GET THE MORTGAGE?

If you’re a new Canadian with a working permit, you need to be in Canada for at least three months to prove that you can make your mortgage payments. If you’re a permanent resident, you need to provide proof of full-time employment for three months. If you’re self-employed, you need to provide proof of employment and two years of tax documentation.

WHAT DOCUMENTS DO YOU NEED TO APPLY?

there are B lenders, who typically offer a lower barrier of entry to qualify for a mortgage, with the possibility of a higher interest rate. B lenders are suitable for homebuyers who don’t have a strong credit history, can’t provide guaranteed income, or may have trouble qualifying for a mortgage with an A lender.

The best piece of advice would be to connect with a dedicated mortgage advisor such as Homewise.

We work with more than 30 banks, credit unions and monoline lenders, helping buyers explore the various mortgage options available and find the one that best suits your unique circumstances.

WHAT IS THE MAXIMUM MORTGAGE AMOUNT YOU CAN GET?

Technically, there is no maximum amount you can receive from the “Newcomers to Canada’’ program.

When applying, lenders will initially request a list of personal documents to verify your financial stability and other key factors that determine your eligibility for a mortgage. These documents include: • Photo ID • This includes a driver’s license, passport and health card • Proof of income • At least three months of bank statements that validate your income stream • Job letter • Ask your employer for a letter explaining your job position, length of employment and salary/hourly wage • Work permit or permanent residency card in Canada • Proof of down payment Depending on your down payment, you may require additional documentation: 1. If your down payment is between five and 9.99 per cent You will need to provide a copy of an international credit report with a strong credit score that proves you can support your monthly mortgage payments. You could also validate your credit through rental payment

history or utility bills such as your gas or water bills.

2. If your down payment is 10 per cent or more You will need six months of bank statements or a letter of reference from a Canadian financial institution.

This information will validate whether you’re eligible and able to make your monthly payments.

WHAT HAPPENS IF YOU HAVE NO CREDIT HISTORY IN CANADA?

If your home country is the U.S., U.K. or South Africa (non-permanent resident), and you don’t have any credit history in Canada, some lenders will still consider your mortgage application. In some cases, lenders will look at your foreign credit history to better understand your eligibility.

For all other countries, where your credit can’t be verified through an international credit record, you’ll likely need to get a letter of reference from your financial institution in your country of origin.

CAN YOU BUY A HOME ON A WORK OR STUDY PERMIT?

The short answer is yes. To do this, you would need to have provable income, a valid work permit or permanent residency to qualify.

At Homewise, our team has worked with many first-time homebuyers and newcomers to Canada to secure a mortgage that best suits their needs.

At the end of the day, it all comes down to doing your research, being organized and working with professional mortgage advisors like ours at Homewise to walk you through the process and help you secure a mortgage with ease.

Jesse Abrams is Co-Founder at Homewise, a mortgage advisory and brokerage firm based in Toronto. thinkhomewise.com

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INSPIRATION |

decor

BOLD BLUE

KITCHEN TRENDS FOR 2022

by Linda Mazur

With the start of a new year undoubtedly comes a desire for change within your home, and one room that always gets a lot of attention is the kitchen. The kitchen is the heart of any home. It’s not only that it services our utilitarian needs, but it doubles as a home office, family zone for homework and catching up at the end of the day, as well as a key area for entertaining. If you’re looking to renovate this multi-functional, multi-faceted room, then let’s take a look at some of the trends you’ll be seeing this year and beyond.

46 condolife magazine | Jan. 29–Feb. 26, 2022

The functionality of your kitchen is always key in a kitchen renovation. No longer is there such a thing as a standard kitchen. Kitchens are fully customized for the way you and your family live. From customized storage solutions, to coffee stations to bar areas for entertaining, our kitchens have evolved into highly stylized spaces that reflect our personality and the way we live. While the classic white kitchen will forever be in style, one of our recently completed renovations in a downtown Toronto condo definitely flaunts many of the trends for 2022,

showing us your space doensn’t need to be large to be on point.

When it comes to cabinets, colour is definitely the way to go. From warm neutrals, to soft watery blues, greens and grey tones. However, the stand-out colour this year is blue. Whether it’s a daring shade of navy, cobalt or teals, blue is popping up in kitchens everywhere. Though some of these shades are quite bold, blue is still a colour that is both comfortable and serene; provided it’s not overdone, it will undoubtedly make your kitchen stand out.

Beautiful marbles, quartz and warm wood tones are still a mainstay in our kitchens. Wood flooring is a definite, but so is adding wood accents in other areas of your space. A beautiful wood with a natural grain for a large island countertop can be a wonderful centrepiece in a kitchen or, as we did here, a beautifully grained walnut as an accent detail to portions of our cabinetry.

Accenting your bold toned blue cabinetry with touches of a warm gold for your hardware will make it stand out even more. However, don’t just rely on your cabinet hardware as your one source of metal detail in your kitchen. Incorporating metals into your space can be as easy as an accent on your range hood, to beautiful warm goldtone faucets and accessories, or used in your cabinetry. However you introduce metals into your kitchen, the key is to do it gingerly so that it becomes a luxurious feature within your space and not an overly saturated mess.

When it comes to your kitchen backsplash, I’m a big lover of the tile known as Zellige. This is a wonderful tile, most often square in shape and highly lustrous with a pattern of irregular lines that evokes a desirous handmade vibe. The tile is simplistic and calm, yet offers so much texture and interest in a space without being a prominent pattern.

Lastly, add personality to your space by mixing it up a bit. Blending different eras creates a unique look, so don’t hesitate to introduce vintage finds or antique collectibles to your more contemporary kitchen. Find some great salvaged barstools and recover them in a funky bold pattern. A great antique cabinet can be painted a trendy colour and turned into a bar in a modern space. Or simply be bold with your colour combinations to create a one-of-a-kind look.

Whichever way you decide to design and accessorize your kitchen, this is definitely the year to inject some uniqueness into your space and make it all your own!

Linda Mazur is an award-winning, nationally publicized designer and Principal of Linda Mazur Design Group. With almost two decades of experience this in demand multi-disciplinary design firm is known for creating relaxed, stylish spaces and full-scale design builds within Toronto, the GTA and throughout Canada. lindamazurdesign.com @LindaMazurGroup nexthome.ca 47

INSPIRATION |

home life

Home office n

o i t a z i n a g r o

KonMari consultant and professional organizer, Ivanka Siolkowsky shares expert tips on creating a productive work-from-home space

48 condolife magazine | Jan. 29–Feb. 26, 2022

Home offices are becoming the new norm for businesses and employees everywhere. So, how can we create a space that optimizes productivity within our own homes without taking over our personal space? I’m here to share some tips and tricks for creating an office space that works for you, no matter the size of your dwelling.

The very first tip is to work in a space with a table or desk. Duh! I know, it seems obvious, but you’d be surprised how many people work from their sofas. Working from the couch not only sends your mind the wrong message, but it is incredibly hard on your body. Your laptop should never be on your lap (ironic, I know) unless you want to be dealing with severe back issues once this is all over. With your laptop on a desk or table, this allows you to sit in a chair with proper posture and your arms to function at a 90-degree angle. Trust me – your body will thank you later.

Now that we know where to set up shop, how can we make this a great space for work during an eight-hour office day? The next thing I would recommend is to create a space that is pleasant to work in. Natural light will help keep you alert. Working all day in a den with no windows can become exhausting, and therefore lower your level of productivity. On the other hand, dens are great for regular life, where you pop in and out for an hour to check email. During an entire day’s work, however, you

might want to consider rearranging some furniture to place your desk near a window in such a way that your laptop doesn’t pick up a glare.

If this means setting up a desk in a common area, that’s ok. Just make sure that everything in your office has a home so that at the end of the workday, you can put it all back where it belongs, and you’re not looking at a messy desk for the rest of the evening. This rule goes for any dedicated office spaces, as well. Just because you can close the door and hide the mess doesn’t mean you should. Every day should be started with a clean slate, and that means a clean desk!

A de-cluttered space is a decluttered mind. When your mind is clear, you’re not only happier but

also more productive. There’s a lot to be said about valuing our mental health. This is why things such as natural light are so important. Also, consider decorating your home office space with some plants to help purify the air while you work, even if this means moving a little plant from the living room to your workspace during the day and moving it back when you’re done.

My final tip is to create a schedule for your workday. This not only keeps you on track with work tasks, but also helps you avoid trips to the fridge every five minutes looking for a snack. Set specific times for lunch and breaks. Set the alarm if you have to. This will get you into a routine and boost your productivity throughout the day.

Ivanka Siolkowsky not only shares the knowledge and skills of organizing, but also helps her clients identify what they value in life, through the process of organizing and de-cluttering. tidymoose.com

nexthome.ca 49

INSPIRATION |

big style

SENSE OF PEACE HOW TO CREATE A

IN YOUR HOME FOR 2022

by LISA ROGERS

More and more evidence suggests that our homes directly influence our moods, overall health and well-being, and this couldn’t be more accurate than in this “new normal” we continue to adapt to this new year.

Our homes are our sanctuaries, refuges and our way to escape the chaotic world around us, and it’s essential we create spaces that feel peaceful and harmonious.

Is it any surprise that in 2022 – our third year in a global pandemic — interior trends are slanting towards ways to make us feel less pressured and more emotionally relaxed? Here are 50 condolife magazine | Jan. 29–Feb. 26, 2022

some of my favourite interior design trends for 2022 that focus on calm.

Think of anything that feels warm and cosy, such as nature-inspired surfaces (marble, stoneware and terracotta), accents such as cashmere throws and oversized pillows, vintage bulbs in your lighting fixtures, or incorporating shades of brown (chocolate, camels and caramels) into your soft furnishings, a kitchen backsplash or decorative accessories.

Stay close to hues you would find in nature to create an environment that feels soothing and mimics the calming effect of the outdoors.

CREATE A MEDITATION NOOK

When it comes to maintaining a healthy sense of self, more and more people are going for an inside-out approach. A big part of that is incorporating meditation and mindfulness practice into their daily routines. Pre-pandemic, we may have looked at taking time out of our busy days to meditate as a luxury.

Now it’s become a necessity: We need an outlet to relieve stress and develop coping mechanisms that preserve our mental health during one of the most trying times we have been through.

You can transform any room in your home into a peaceful mediation nook: Find a comfortable corner (ideally, near a window) and create a cosy sanctuary with soft floor pillows, a small carpet and a comfortable bench for sitting.

Whether you meditate for three minutes or 30, carve out time in your day to focus on yourself outside of your daily distractions. Meditation works wonders in keeping us in the moment, and it can be effective in reducing our heart rates, cortisol levels and anxiety.

working from home and possibly having the option to continue once this pandemic is over, we will need to be more creative with designing our spaces to accommodate our working from home lives.

Many open-plan kitchens will reconfigure into alternative workspaces with shelves, spacesaving features and maximized corners. Kitchen nooks are the new workspace: They can work double duty as a workspace instead of the living room.

CURVED FURNITURE

CREATIVE WORK-FROMHOME SOLUTIONS

Home offices are a must these days, and I don’t see this need dying down anytime soon. With many people

Curved furniture is massive for 2022, and as we continue to shift away from cold minimalism towards cosier interiors, our furniture is also moving towards softer and curvier lines.

Organically-shaped furniture (no hard

edges!) and round-edged pieces will dominate, giving comfort and calm.

SUSTAINABLE PIECES

People have begun to shop more sustainably, and I don’t expect that to end anytime soon. Vintage is such a strong storyteller, and it has the power to create a beautiful narrative in any room. Still, aside from the inherent intrigue and history in antique furniture and pieces, vintage also supports sustainability, which we should all commit to in an even more significant way this new year.

Whether you commit to shopping locally or buy responsibly-sourced items, people are keen to stay Green as much as they can. By repurposing old, reworked or antique pieces, we reduce our footprint and create a warm environment.

Lisa Rogers is Executive Vice-President of Design for Dunpar Homes (dunparhomes.com). Lisa has shared her style and design expertise on popular television programs such as Canadian Living TV, House & Home TV and as a regular guest expert for fashion and image, health and wellness and design on CityTV’s Cityline. Follow Lisa’s blog at craftedbylisa.ca nexthome.ca 51

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INSPIRATION |

home finds

HOME etc.

by SARA DUCK

Design ideas and products to love this season

Stockholm 2017 SOFA in Sandbacka dark blue. $2,000. ikea.ca

Fabric LAND

1

Leather, velvet and bouclé are some of the most popular fabrics in design for 2022.

1. Gideon green velvet OTTOMAN. $549.cb2.ca 2. Route leather chocolate PILLOW with feather-down insert. $130. cb2.ca 3. Anja ivory bouclé swivel CHAIR. $2,299. cb2.ca

2

3 nexthome.ca 53

Sharon Grech, Benjamin Moore’s colour and design expert, shares three inspiring ways to bring the best of the outdoors inside

1

2

Embrace

imperfection

CHOOSE EARTH TONES

One of the most impactful ways to bring a sense of the outdoors into your space is through colour. “Consider a hue like October Mist CC-550 (pictured above), our colour of the year for 2022,” says Grech. “Inspired by the stem of a flower, this colour is the perfect support for other hues in a room and is an inspiring and soothing colour that looks beautiful with a variety of styles.”

Not ready to repaint a full room? Repainting a piece of furniture such as an accent table or just the legs of your dining table or desk with Advance interior paint can help bring subtle hints of colour to a more neutral space.

2 1

1. Linen-blend THROW in light beige. $70.

2. Washed linen CUSHION COVER. $15.

All from hm.com

GO ORGANIC To bring a true feeling of nature into any room, look for ways to bring organic touches into your space.

“Simple arrangements of greens can be a striking and stylish way to add colour,” suggests Grech. “As a bonus, greens can be a much more affordable alternative to traditional bouquets that focus on blooms.” When you’re furnishing a space inspired by the outdoors, choose materials that evoke nature like wood, wicker and rattan.

3 54 condolife magazine | Jan. 29–Feb. 26, 2022

Taking inspiration from nature gives us permission to be comfortable with the imperfections in our homes.

“Give any room a natural and relaxed feel by choosing textiles like linen that look their most inviting when creased,” suggests Grech.

1. Wood and glass PLANTER. $99. | 2. Rattan and hammered glass CART. $499.| 3. Wood and rattan BENCH. $499. All from zarahome.com

Coloured

sofa + pattern rug Freshen up your living space for spring by pairing a coloured sofa with a patterned rug in similar tones.

Sven velvet SOFA in pacific blue. $1,979. article.com Hillsby Oriental Blue/Orange area RUG by Mistana. From $79. wayfair.ca

1 3

2

Check mate!

4

Eve LOVE SEAT in aspen mist. $2,049. eq3.com Tofino RUG in multicolour. From $500. eq3.com

From apparel to decor, black and white checkerboard print is cool and confident – a design you’ll be noticing this year.

Fany tufted three-seater SOFA in purple and pink. $699. structube.com Koweit RUG in pink. structube.com

1. Black and ivory checkerboard RUG. $15. simons.ca | 2. Ren large PILLOW. $99 | 3.

POUF. $199. article.com| 4. Checkerboard SLIP-ON, women by Vans. $70. simons.ca.

Mushroom moment

Earthy fungi are having a design moment and we can see why. With the rise of forest bathing, foraging and all things biophilia, people are connecting with nature more than ever before. We’ve seen the trend of plants (I’m talking about you, Monstera!) and wildflowers for a while, so, it’s no surprise that mushroom motifs are trending. The variety of mushroom shapes and colours make them an interesting design detail on wallpaper, cushions and wall art.

Mushroom garden WALLPAPER. Starting at $12. mooseaccents.com | Mushroom punch needle PILLOW. $25. lushandfound.com

nexthome.ca 55

2

1

Very Peri

PANTONE’S 2022 COLOUR OF THE YEAR

3

“As we move into a world of unprecedented change, the selection of Pantone 17-3938 Very Peri brings a novel perspective and vision of the trusted and beloved blue colour family, encompassing the qualities of the blues, yet at the same with its violet red undertone, Pantone 17-3938 Very Peri displays a spritely, joyus attitude and dynamic presence that encourages courageous creativity and imaginative expression.

– Leatrice Eiseman, executive director of the Pantone Color Institute 1. 600 thread count Egyptian cotton four-piece SHEET SET in dusty purple. $250-$290. thebay.com | 2. Cordless IRON with non-stick sole by Black + Decker. $60. thebay.com | 3. Ball animal 2 pro upright VACUUM in purple by Dyson. $700. bedbathandbeyond.ca

SUSTAINABLE CUSHION OPTIONS These pillow covers are handcrafted, sustainably sourced and come in a variety of muted shades.

Pretty in pink Moroccan woven PILLOW COVERS. From $64. westelm.ca 56 condolife magazine | Jan. 29–Feb. 26, 2022

Le Creuset introduces shell pink as the latest hue in its colourful palette of enamelled cookware. “We felt Shell Pink to be the perfect shade of pink,” says Sarin Keusseyan, commercial director at Le Creuset Canada. “Continuously among our most in-demand hues, we knew this would be the colour Le Creuset fans would surely appreciate. lecreuset.ca

CONDO PROFILES

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developer: style: size: prices from: features:

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• Lifestyle amenities designed to connect spaces and people. A Two-Storey Gym, Swimming Pool & Rooftop Terrace, Private, Landscaped Courtyard, Outdoor Terrace, & Garden, Kids’ Zone and Youth Zone contact: Tridel.com location: Dundas St. W. + Denison Ave.

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HOT PROPERTIES | GREATER TORONTO AREA

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63 18

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36

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45

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10

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37

MAPS

CARTOGRAPHY: MARKETMAPS.COM

Match the map numbers with property listings on the following Hot Properties page

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HOT PROPERTIES

FIND YOUR NEXT HOME

The latest properties in the Greater Toronto Area to keep your eye on

Legend: HR = High Rise CTH = City Home MR = Mid Rise LO = Loft LR = Low Rise LW= Live Work PH = Penthouse RH = Row Home TH = Townhouse

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CONTACT

Etobicoke..............................Mirabella ........................................................... HR ......................... 1926 Lake Shore Blvd. W. ..............................................mirabellacondos.ca Etobicoke..............................Westerly ............................................................ HR ......................... Islington & Dundas............................................................................tridel.com Etobicoke..............................Reina .................................................................. HR ......................... Royal York & The Queensway ..........................................reinacondos.com Etobicoke..............................Humberwood Heights ........................... CTH/FTH ................... 50 Humberwood Blvd. .......................................tributecommunities.com Etobicoke..............................Cypress at Pinnacle Etobicoke ................... HR ......................... 5475 Dundas St. W. ................................................pinnacleinternational.ca Etobicoke..............................Verge ................................................................. MR ......................... Islington & The Queensway ........................................... vergecondos.com Etobicoke..............................36 Zorra Condominiums.............................. MR ......................... 36 Zorra................................................................... altreedevelopments.com Markham/Unionville..........Panda Markham ............................................. HR ......................... 8200 Warden Ave. ............................................lifetimedevelopments.com Markham/Unionville..........Varley Condo Residences .............................LR.......................... 20 Fred Varley.........................................................tributecommunities.com Markham...............................Canvas on the Rouge.................................... MR ......................... Donald Cousens Pkwy & Ninth Line ................................. flatogroup.com Mississauga ..........................Amber at Pinnacle uptown ......................... HR ......................... 5044 Hurontario St. ..............................................pinnacleinternational.ca Mississauga ..........................Perla Towers at Pinnacle Uptown.............. HR ......................... 5044 Hurontario St. ..............................................pinnacleinternational.ca Mississauga ..........................Oro, at Edge Towers ..................................... HR ......................... 24 Elm Dr.W..........................................................................................solmar.ca Mississauga ..........................Brightwater Condos .....................................CTH........................ 70 Mississauga Rd. S. .......................................mybrightwatercondos.com Mississauga ..........................Artform Condos.............................................. MR ......................... 86 Dundas St. E. ............................ artformbyemblemdevelopments.com Mississauga ..........................Gemma at Pinnacle Uptown....................... HR ......................... 5044 Hurontario St. .................................................... pinnacleuptown.com North York ............................M2M ................................................................... MR ......................... Yonge & Finch ..................................................................... m2mcondos.com North York ............................The DIamond .................................................. HR ......................... 5336 Yonge St.................................diamond.diamantedevelopment.com Oshawa .................................U.C. Condos..................................................... HR ......................... Simcoe St. N. & Winchester Rd. W. ....................tributecommunities.com Scarborough ........................Pinnnacle Toronto East ............................... HR ......................... 3260 Sheppard Ave. E. .........................................pinnacleinternational.ca Scarborough ........................FourMe .............................................................. HR ........................ Markham Rd. & Ellesmere ............................................fourmecondos.com Scarborough ........................Highland Commons ...................................... MR ......................... 1625 Military Trail..............................................thehighlandcommons.com Toronto .................................111 River St. Condos ...................................... HR ......................... 111 River St. .........................................................lifetimedevelopments.com Toronto .................................200 Queens Quay W. .................................... HR ......................... 200 Queens Quay W. ......................................lifetimedevelopments.com Toronto .................................Lawrence Hill Urban Towns .......................CTH........................ Don Mills & Lawrence ................................. lawrencehillurbantowns.com Toronto .................................489 Wellington St. W. ................................... HR ......................... 489 Wellington St. W. .......................................lifetimedevelopments.com Toronto .................................500 Dupont St. ............................................... MR ......................... 500 Dupont St. ...................................................lifetimedevelopments.com Toronto .................................Aqualuna at Bayside ..................................... HR ......................... 200 Queens Quay East ...................................................................tridel.com Toronto .................................Artistry Condos ............................................... HR ......................... 292 Dundas St. W. ..................................................tributeartistrycondos.ca Toronto .................................Panda Condos................................................. HR ......................... Yonge & Dundas. ...............................................lifetimedevelopments.com Toronto .................................Skytower at Pinnacle One Yonge .............. HR ......................... 1 Yonge St. ...............................................................pinnacleinternational.ca Toronto .................................The Prestige at Pinnacle One Yonge ....... HR ......................... 1 Yonge St. ...............................................................pinnacleinternational.ca Toronto .................................Tridel at the Well ........................................ MR/HR ..................... Spadina Ave. & Wellington St. .....................................thewelltoronto.com Toronto .................................Via Bloor ........................................................... HR ......................... Bloor & Parliament. ...........................................................................tridel.com Toronto .................................The PJ Condos ............................................... HR ......................... 283 Adelaide St. W..................................................pinnacleinternational.ca Toronto .................................36 Eglinton Ave. W. ....................................... HR ......................... 36 Eglinton Ave. W. ..........................................lifetimedevelopments.com Toronto .................................Linx Condominiums ...................................... HR ......................... Danforth & Main ................................................ tributecommunicties.com Toronto .................................Y&S Condos .................................................... HR ......................... 2161 Yonge St. .......................................................tributecommunities.com Toronto .................................Burke Condos ................................................. HR ......................... Bloor & Sherbourne ..................................................... burkebyconcert.com Toronto .................................MRKT Alexandra Park .................................MR HR...................... Dundas & Spadina .............................................................................tridel.com Toronto .................................181 East ............................................................. HR ......................... 181 Sheppard Ave. East ...................................................................stafford.ca Toronto .................................Avenue & Park ................................................. MR ......................... Avenue Rd. & Bedford .....................................................................stafford.ca Toronto .................................50 at Wellesley Station.................................. HR ......................... 50 Wellesley St. East ................................................................pureplaza.com Toronto .................................No. 1 Yorkville.................................................. HR ......................... 1 Yorkville Ave............................................................................pureplaza.com Toronto .................................Theatre District Residences......................... HR ......................... Adelaide & Widmer ..................................................................pureplaza.com Toronto .................................Bijou on Bloor ................................................. MR ......................... 2450 Bloor St. West..................................................................pureplaza.com Toronto .................................The Briar on Avenue .....................................CTH........................ 368 Briar Hill Ave. .....................................................................pureplaza.com Toronto .................................One Seventy .................................................... HR ......................... Spadina & Queen St. West ......................................................pureplaza.com Toronto .................................King West & Charlotte ................................... HR ......................... King St. West & Charlotte........................................................pureplaza.com Toronto .................................Forest Hill Private Residences..................... MR ........................ 2 Forest Hill Rd. ...................................................... foresthillresidences.com Toronto .................................Oscar Residences ........................................... MR ......................... 500 Dupont St. W. at Bathurst...................................oscarresidences.com Toronto .................................Whitehaus ........................................................ HR ......................... Yonge & Eglinton ...............................................lifetimedevelopments.com Toronto .................................Liberty Market Tower..................................... HR ......................... 171 East Liberty St. .............................................lifetimedevelopments.com Toronto .................................XO Condos....................................................... MR ......................... King & Dufferin...................................................lifetimedevelopments.com Toronto .................................234 King East ................................................... HR ......................... 234 King St. E. ...............................................................emblemdevcorp.com Toronto .................................The Dupont ..................................................... MR ......................... Dupont & Ossington.........................................................................tridel.com Toronto .................................Bianca Condos................................................ MR ......................... 420 Dupont St ....................................................................................tridel.com Thornhill ...............................Royal Bayview ................................................ MR ......................... Bayview Ave. & Royal Orchard Blvd. ............................................tridel.com Toronto .................................LeftBank ............................................................ HR ......................... River St. & Dundas St. East..................................................... broccolini.com Toronto .................................Central Park Residences............................... HR ......................... Sheppard Ave. East & Leslie ................................. centralparktoronto.com Vaughan ................................Park Avenue Place 1 & 2 ............................... HR ......................... Jane St. & Rutherford Rd. ................................................................solmar.ca Vaughan ................................The Vincent...................................................... MR ......................... Jane St. & Hwy. 7 ........................................................................ thevincent.ca Vaughan ................................The Rose Hill Condos ................................... MR ......................... 177 Woodbridge Ave.......truecondos.com/capital-north-communities Vaughan ................................SXSW Condos .................................................. HR ......................... Islington & Steeles..........................................................primonthomes.com

MAPS

Locate properties using the map on the previous page

60 condolife magazine | Jan. 29–Feb. 26, 2022

+

BUILDERS IF YOU WOULD LIKE TO INCLUDE YOUR PREVIEW REGISTRATION, NEW RELEASE OR SITE OPENING IN THIS FEATURE, JUST EMAIL THE DETAILS TO EDITORIAL@NEXTHOME.CA

HOT PROPERTIES | OUT OF TOWN

FIND YOUR NEXT HOME

The latest properties in the Out of Town Area to keep your eye on

Youngs Point

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CARTOGRAPHY: MARKETMAPS.COM

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nexthome.ca 61

HOT PROPERTIES | SOUTHWESTERN ONTARIO AREA

KITCHENER–WATERLOO

Guelph

Waterloo

Milton

Kitchener

Cambridge

5

Brantford

Hamilto n 11

4

13

14 1 12

LONDON

15

London

62 condolife magazine | Jan. 29–Feb. 26, 2022

2 3

Mississauga

20

17 18

Oakville 19

6

MAPS Match the map numbers with property listings on the following Hot Properties page

7

Burlington

23 10

16

21

St Catharines22

Niagara Falls

8

24

Welland

CARTOGRAPHY: MARKETMAPS.COM

9

nexthome.ca 63

HOT PROPERTIES

FIND YOUR NEXT HOME

The latest properties in the Southwestern Ontario Area to keep your eye on

Legend: HR = High Rise CTH = City Home MR = Mid Rise LO = Loft LR = Low Rise LW= Live Work PH = Penthouse RH = Row Home TH = Townhouse

MAP

LOCATION

SITE

TYPE

ADDRESS

CONTACT

1.

Ancaster ................................Meadowlands ............................................MR/CTH .................... 559 Garner Rd E ................................................................ elitemdgroup.com

2.

Brampton..............................DUO Condos ................................................... HR ......................... Malta Ave. & Steeles Ave. .........................................................duocondos.ca

3.

Brampton..............................Duo Condos at the Gateway....................... HR ......................... Steeles Ave. West & McMurchy Ave. South ..........duocondominiums.ca

4.

Brantford...............................Station Sixty Lofts .......................................... MR ......................... 60 Market St. S................................................................... elitemdgroup.com

5.

Burlington ............................Affinity Condos ............................................... MR ......................... Plains Rd. E. & Filmandale Rd. ............................... rosehavenhomes.com

6.

Burlington ............................Millcroft Towns .............................................CTH........................ Appleby Line & Taywood Dr. .............................branthavenmillcroft.com

7.

Burlington ............................Gallery Condos & Lofts ................................ HR ......................... Brant St. & James St. .............................................gallerycondominiums.ca

8.

Fonthill ..................................One Twenty Condos .....................................LR.......................... Rice Rd. & Highway 20 ................................................... mountainview.com

9.

Fonthill ..................................One Fonthill Condominium Collection .. MR ......................... Rice Rd .......................................................................onefonthillcondos.com

10.

Grimsby.................................Odyssey Condos & Towns ..................... HR/CTH .................... Windward Dr. & N Service Rd. ................................ rosehvaenhomes.com

11.

Hamilton ...............................1 Jarvis .............................................................. HR ......................... 1 Jarvis................................................................................................1jarvis.com

12.

Hamilton ...............................Electric Avenue ......................................... HR/CTH .................... Upper James & Rymal Rd............................................... elitemdgroup.com

13.

Hamilton ...............................KiWi Condos ................................................... HR ......................... 212 King William St................................................................kiwicondos.com

14.

Hamilton ...............................Steeltown City Co. ...................................MR/CTH .................... Fennell Ave. E. & Upper Ottawa St. .............................. elitemdgroup.com

15.

London ..................................White Oaks Urban Towns ...........................CTH........................ London ................................................................................ elitemdgroup.com

16.

Niagara Region ...................Lusso Urban Towns ......................................CTH........................ Martindale Rd. & Grapeview Dr. .............................. lucchettahomes.com

17.

Oakville .................................5 North .............................................................. MR ......................... 1388 Dundas St. W. ...................................................... mattamyhomes.com

18.

Oakville .................................Synergy ............................................................ MR ......................... McCraney St. E. & Sixth Line ..............................................branthaven.com

19.

Oakville .................................The Randall Residences ............................... MR ......................... Randall St. & Lakeshore Rd. E. .............................. randallresidences.com

20.

Oakville .................................Upper West Side at Oakvillage .................. MR ......................... 351 Dundas St. E. ................................................. upperwestsidecondos.ca

21.

St. Catharines.......................88 James .......................................................... HR ......................... 88 James ............................................................................ elitemdgroup.com

22.

St. Catharines.......................St. Kitt Urban Towns .....................................CTH........................ Oakdale Avenue & Merritt Street ...............................stkittsurbantowns.ca

23.

Stoney Creek ......................Casa Di Torre .................................................. MR ......................... 980 Queenston Rd................................................................branthaven.com

24.

Welland .................................L’eau ...................................................................LR.......................... 1 Albert St................................................................. info@elitemdgroup.com

MAPS

Locate properties using the map on the previous page

64 condolife magazine | Jan. 29–Feb. 26, 2022

+

BUILDERS IF YOU WOULD LIKE TO INCLUDE YOUR PREVIEW REGISTRATION, NEW RELEASE OR SITE OPENING IN THIS FEATURE, JUST EMAIL THE DETAILS TO EDITORIAL@NEXTHOME.CA

ADVERTISER INDEX — Find ads easily inside this edition Access Storage ...........................................................................1 1 Black & Decker ....................................................................57, 65 Central Park – Amexon ............................................................. 3 Channel 13 Advertising & Design .......................................... 1 5

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Condo Store, The...................................................................... 1 6 Cullen’s .......................................................................................... 2 Duo – National Homes / Brixen ..........................................4, 5 Fairmont Royal York ..................................................................1 1 Focal Point...................................................................................1 1 Gladstone ....................................................................................1 7 Graydon Logistics ......................................................................1 1 Highland Commons – Altree .................................... 12, 13, 57 Home + Style Studio Tour .......................................................1 1 IDRC ..............................................................................................1 1 Indigo............................................................................................1 1 Montana Steele.......................................................................... 1 8

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Altree ............................................................................... 12, 13, 57 Amexcon ....................................................................................... 3 Brixen .........................................................................................4, 5 National Homes ......................................................................4, 5 Tridel ........................................................................................9, 57

www.blackanddecker.ca |

@blackanddeckerca nexthome.ca 65

ADVICE | INDUSTRY REPORT

WILL 2022 BE THE YEAR WE FIX HOUSING SUPPLY IN THE GTA?

DAVE WILKES

This year will bring both provincial and municipal elections in Ontario.

In the GTA, with housing inventories at near-historic lows, high demand for homes and rapid price escalation, housing supply and affordability will rank alongside COVID-19 recovery as defining election issues.

Insufficient housing supply exacerbates inequality, places a drag on economic growth, and threatens the collective quality of life in the region. Voters should demand meaningful platforms and policy ideas from candidates and parties.

After almost a decade of debate, the broad consensus is that lack of housing supply is driving the GTA’s affordability challenge. A 2021 Scotiabank report found that Canada had the lowest number of housing units per 1,000 people among G7 countries. In the GTA, the causes of the supply dilemma are multifactorial and complex, but are rooted in constrained land supply, lengthy building times driven by unnecessarily complicated and bureaucratic approval processes and a tight supply of skilled labour.

Layered on top of this is consistently strong demand as a result of rapid population growth due to intra-provincial and rural-tourban migration and immigration, resulting in tough competition for limited housing supply, which drives up prices. Fees and taxes charged by all three levels of government also add costs, amounting to 25 per cent

66 condolife magazine | Jan. 29–Feb. 26, 2022

of the cost of a new housing unit in the GTA. Solutions tend to be divided into two camps – those focusing on demand and those that focus on supply. Any long-term solution must be firmly rooted in supply, rather than the tax-and-restrict approaches of trying to cool demand for housing.

Past attempts to cool demand have had short-term, muted impacts at best. Burdensome stress tests have kept young families off the property ladder, have caused difficulty in mortgage renewals for countless home buyers, and pushed those facing challenges to more expensive, higher-risk sources of financing.

Foreign buyer taxes, another way governments have attempted to cool demand, have yielded paltry returns to the government coffers and negligible impacts on housing affordability. The true cause of the issue is supply constraints, not foreign buyers.

Voters should be wary of political candidates who claim that adding taxes or other restrictions will increase affordability. Instead, they should be looking for candidates and parties to put forward solutions that will increase supply by addressing the root causes of land supply and approval times and solutions that cap or lower the already large tax burden placed on new homes and homeowners.

Dave Wilkes is President and CEO of the Building Industry and Land Development Association (BILD), the voice of the homebuilding, land development and professional renovation industry in the GTA. For the latest industry news and new home data, follow BILD on Twitter, @bildgta or visit bildgta.ca.

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