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Spring has sprung – by calendar if not by weather – and activity in the real estate market is also marking the change in seasons.
This time of year is usually “busy season” in real estate, but very little about the last couple years can be considered typical. Housing supply, interest rates, inflation, government policy and other issues have been causes for concern. But as early as February, we could see there was relief on the horizon.
A pause in interest rate hikes from the Bank of Canada (BoC) – more so anticipation of declines as early as spring – and growing pent-up demand signaled that homebuying conditions were becoming more and more favourable.
And sure enough, on March 18, the Canadian Real Estate Association (CREA) confirmed that Canadian home prices in February were flat on a month-over-month basis, ending a streak of five declines that began last fall.
“After two years of mostly quiet resale housing activity there’s a feeling that things are about to pick up,” says Larry Cerqua, chair of CREA. “At this point, it’s hard to know whether buyers are going to wait for a signal from the Bank of Canada or whether they’re just waiting for the spring listings to hit the market.”
And more good news came on March 19, when Statistics Canada reported that inflation continues to ease, falling to 2.8 per cent in February – further stoking hopes that interest rate declines are not far off.
CREA’s assessment, however, is mostly on a national level, but as we often remind in Condo Life magazine, real estate is not national. There is no one Canadian market. Indeed, conditions can vary by province, region, city, neighbourhood and even street.
More locally, the Toronto Regional Real Estate Board (TRREB) reports GTA home sales and new listings were up on an annual and monthly basis in February 2024, while selling prices also edged upward compared to a year earlier. TRREB cites population growth and a resilient regional economy as key to supporting overall demand for housing.
“We have recently seen a resurgence in sales activity compared to last year,” says TRREB President Jennifer Pearce. “The market assumption is that the Bank of Canada has finished hiking rates. Consumers are now anticipating rate cuts in the near future.”
The next BoC interest rate announcement is April 10, and the next CREA stat report April 12. As we edge further into spring and temperatures and market conditions warm up, a brighter forecast could be just weeks away.
Jesse Abrams is Co-Founder at Homewise, a mortgage advisory and brokerage firm based in Toronto. thinkhomewise.com
Mike Collins-Williams, RPP, MCIP, is CEO West End Home Builders’ Association. westendhba.ca.
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
SENIOR VICE-PRESIDENT, SALES, NEXTHOME
Hope McLarnon 416.708.7987
hope.mclarnon@nexthome.ca
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Wayne Karl wayne.karl@nexthome.ca
CONTRIBUTORS
Jesse Abrams, Mike Collins-Williams, Debbie Cosic, Sara Duck, Barbara Lawlor, Linda Mazur, Jason Mercer, Ben Myers, Jennifer Pearce, Lisa Rogers, Jayson Schwarz, Dave Wilkes
EXECUTIVE MEDIA CONSULTANTS
Jacky Hill, Michael Rosset
VICE-PRESIDENT, MARKETING – GTA
Barbara Lawlor is President and CEO of Baker Real Estate Inc., and an indemand 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
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
Jennifer Pearce, TRREB President, is a Broker and Owner with ReMax Rouge River Realty Ltd., a family owned and operated brokerage. She is a secondgeneration realtor and has been licensed since 2000. trreb.ca
Jayson Schwarz LL.M. is a Toronto real estate lawyer and partner in the law firm Schwarz Law LLP. He can be reached by visiting schwarzlaw.ca or by email at info@schwarzlaw.ca or phone at 416.486.2040.
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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GTA new home sales remained expectedly soft in February, with new home inventory edging up, the Building Industry and Land Development Association (BILD) reports.
There were 753 new home sales in February, which was down 20 per cent from February 2023 and 73 per cent below the 10-year average, according to Altus Group, BILD’s official source for new home market intelligence.
“GTA new homes sales in February remained soft,” says Edward Jegg, research manager with Altus Group. “However, builders have been adding inventory in anticipation of the return of buyers into the market.”
Condominium apartments, including units in low-, mediumand highrise buildings, stacked townhouses and loft units, accounted for 379 units sold in February, down 50 per cent from February 2023 and 78 per cent below the 10-year average. This was the second lowest February for condominium apartment sales on record.
There were 374 single-family home sales in February, up 103 per cent from February 2023 and 66 per cent below the 10-year average. Single-family homes include detached, linked and semi-detached
houses and townhouses (excluding stacked townhouses).
Total new home remaining inventory increased compared to the previous month, to 20,177 units. It included 16,747 condominium apartment units and 3,430 singlefamily dwellings. This represents a combined inventory level of 12 months, based on average sales for the last 12 months. This remains one of the highest inventory levels for new homes seen in the last decade and means there is plenty of choice for new-home buyers.
“With inventory growing, builders are clearly indicating they are ready to do their part to meet the provincial objective of building 1.5 million homes by 2031,” says Justin
Sherwood, senior vice-president communications and stakeholder relations at BILD. “All we need now is for the signal that interest rates will begin to moderate. This will give buyers the confidence to re-enter the market, take advantage of the available inventory and pricing that has moderated since the previous market peak.”
Benchmark prices increased in February for single-family homes and decreased for condominium apartments compared to the previous month. The benchmark price for new condominium apartments was 1.04 million, down six per cent over the last 12 months, while the benchmark price for new single-family homes was $1.58 million, down 10 per cent.
Canadian home prices as measured by the seasonally adjusted Aggregate Composite MLS Home Price Index (HPI) were flat on a month-overmonth basis in February 2024, ending a streak of five declines that began last fall, according to the latest data from the Canadian Real Estate Association (CREA).
“It’s looking like February may end up being the last relatively uneventful month of the year as far as the 2024 housing story goes,” says Shaun Cathcart, CREA’s senior economist. “With so much demand having piled up on the sidelines, the story will likely be less about the exact timing of interest rate cuts and more about how many homes come up for sale this year.”
Home sales activity recorded over Canadian MLS Systems dipped 3.1 per cent between January and February 2024, giving back some of the cumulative 12.7-per-cent increase in activity recorded in December 2023 and January 2024. However, the general trend has been somewhat higher levels of activity over the last three months compared to a quiet fall market in 2023.
The actual (not seasonally adjusted) number of transactions came in 19.7 per cent above February 2023. Part of that double-digit gain reflects the fact that February 2023 sales were one of the lowest for that month in the past two decades, but it also reflects the fact that current activity has climbed back to only about five per cent below the 10-year average.
The number of newly listed homes edged up 1.6 per cent on a monthover-month basis in February. Gains may rise in the months ahead depending on how many owners are preparing to list their properties for sale this spring.
“After two years of mostly quiet resale housing activity there’s a feeling that things are about to
pick up,” says Larry Cerqua, chair of CREA. “At this point, it’s hard to know whether buyers are going to wait for a signal from the Bank of Canada or whether they’re just waiting for the spring listings to hit the market. Either way, neither of those are likely too far off, so if you’re hoping to buy or sell a property in 2024, contact a realtor in your area today.”
With sales edging down and new listings inching up in February, the national sales-to-new listings ratio eased a bit to 55.6 per cent. The long-term average for the national sales-to-new listings ratio is 55 per cent. A sales-to-new listings ratio between 45 per cent and 65 per cent is generally consistent with balanced housing market conditions, with readings above and below this range indicating sellers’ and buyers’ markets respectively.
There were 3.8 months of inventory on a national basis at the
end of February 2024, up a touch from 3.7 months at the end of January. The long-term average is about five months of inventory. The actual (not seasonally adjusted) national average home price was $685,809 in February 2024, up 3.5 per cent from February 2023.
*Prices
GTA home sales and new listings were up on an annual and monthly basis in February 2024, while selling prices also edged upward compared to a year earlier, according to the latest data from the Toronto Regional Real Estate Board (TRREB). Population growth and a resilient regional economy continued to support the overall demand for housing, while higher borrowing costs kept home sales below the February sales record reached in 2021.
“We have recently seen a resurgence in sales activity compared to last year,” says TRREB President Jennifer Pearce. “The market assumption is that the Bank of Canada has finished hiking rates. Consumers are now anticipating rate cuts in the near future. A growing number of homebuyers have also come to terms with elevated mortgage rates over the past two years. To minimize higher monthly payments, some buyers have likely saved up a larger down payment, chosen to purchase a lessexpensive home type and/or looked to a different location in the GTA.”
Realtors reported 5,607 GTA home sales through TRREB’s MLS system in February 2024 – an increase of 17.9 per cent compared to February 2023. Even after accounting for the leap year effect, sales were up by 12.3 per cent year-over-year. New listings were up by an even greater
annual rate than sales in February, pointing to increased choice for buyers. On a seasonally adjusted month-over-month basis, February sales were lower following two consecutive monthly increases while new listings were flat. Monthly figures can be somewhat volatile, especially when the market is approaching a transition point.
Home selling prices in February 2024 remained similar to February 2023. The MLS Home Price Index Composite benchmark edged up by 0.4 per cent. The average selling price of $1.10 million increased by a modest 1.1 per cent. On a seasonally adjusted monthly basis, both the MLS HPI Composite and the average selling price edged upward.
“As we move through 2024, an increasing number of buyers will re-enter the market with adjusted housing preferences to account for higher borrowing costs,” says TRREB Chief Market Analyst Jason Mercer. “In the second half of the year, lower interest rates will further
boost demand for ownership housing. First-time buying activity will also be a contributing factor, as many renters look to trade high monthly rents for a long-term investment in which they can live and build equity.”
“Population growth has been at a record pace and with the anticipated lower borrowing costs, the demand for housing – both ownership and rental – will also increase over the next two years,” says TRREB CEO John DiMichele. “Unaffordable housing not only has a financial impact but also a social impact. Recent research conducted for TRREB by CANCEA in our 2024 Market Outlook and Year in Review report underscores the negative impact of unaffordable housing on peoples’ mental health and life satisfaction. It’s comforting to see that there has been some real building happening in the GTA and that the provincial government is rewarding those municipalities that are working to eliminate the red tape and meet those homeownership needs.”
The Toronto Regional Real Estate Board (TRREB) praises the new Ontario budget, saying it provides key supports to address housing affordability crisis in the province.
Lack of housing affordability in Ontario is leaving individuals and families on the sidelines of the Canadian dream of homeownership, TRREB says. To reverse this trend, governments must prioritize bold policy changes that will speed up the building of thousands of new homes.
“The release of the 2024 Ontario Budget provides critical support to the province’s effort to save the Canadian dream of homeownership,” says Jennifer Pearce, TRREB
president. “Ontario is moving ahead with critical funding to connect developable land to water, sewer and other housing enabling infrastructure. This infrastructure funding will unlock thousands of new homes across the Greater Toronto Area.”
Pearce says the province is also following TRREB’s advice to go all-in on modular housing. Modular homes are built quickly and are a cost-effective option that will help Ontario meet its housing supply targets. The budget signals the province’s strong commitment to using modular housing and more innovative technologies to help solve the housing affordability crisis.
TRREB has worked with the Ford government and the Ontario real estate industry to introduce five pieces of legislation, including More Homes, More Choice; More Homes Built Faster; Affordable Homes and Good Jobs; Helping Homebuyers Protecting Tenants; and Strong Mayors Build Homes. Each of these Acts have cut red tape and streamlined approvals to ensure the Greater Golden Horseshoe can meet the housing supply targets.
“We will continue to take action and work with policymakers to ensure homeownership and rental properties are affordable in our region for future generations,” says Pearce.
Homebuying activity in most luxury markets across the country is slowly shifting into high gear, as buyers reap the benefits of softer housing values, according to a new report from ReMax Canada.
The company’s 2024 Spotlight on Luxury Report examined luxury homebuying activity in 10 markets across the country in the first two months of the year and found that, despite a disconnect between buyers looking for deals and sellers’ price expectations, almost all regions reported a strong start to the year. Ninety per cent of markets experienced an increase in high-end sales, with more than two-thirds recording double-digit growth. Toronto and London reported increases of 14.4 per cent and 9.4 per cent respectively.
“While figures remain off peak levels reported during COVID, the upswing in luxury sales signals a return to overall health in the country’s major centres,” says ReMax Canada President Christopher Alexander. “The ripple effect is already underway,
with stronger homebuying activity at lower price points pushing sales into the upper end. In some cities where inventory levels are particularly challenging at the lower end, multiple offers have returned with a vengeance. While that isn’t the case at the top end, pent-up demand does exist, and activity is gaining momentum.”
Condominiums have been a popular option this year, despite single-detached homes comprising the lion’s share of luxury sales. Condo activity was strongest in Metro Vancouver, where sales climbed close to 70 per cent in the first two months of the year (27 versus 16). Solid condo activity at the high-end price points was also reported in London, fuelled by empty nesters and retirees, and in Ottawa and Montreal.
The GTA luxury market has sprung back to life in the first two months of the year, with home sales above the $5-million price point leading the way. Thirty-two freehold and
condominium properties changed hands between Jan. 1 and Feb. 29, up 77 per cent from the 18 sales reported during the same period in 2023. Of the 32 properties sold for more than $5 million to date, 17 sales occurred in the 416, while 15 were in the 905.
Interest rates remain the greatest roadblock to homeownership at present, ReMax says. It’s anticipated that once rates start to fall, Toronto’s housing market will be exceptionally robust, with pent-up demand the driving force.
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The GTA real estate recovery may already be underway
There are early signs that 2024 is shaping up to be a much better year than its predecessor. Housing supply, interest rates, inflation, government policy and other issues were a cause for concern last year, but there may already be relief on the horizon..
The benefits of purchasing a condo in a master-planned community Condominiums have become increasingly popular housing options, especially in master-planned communities which offer a unique blend of convenience, comfort and community living that can be truly enticing for potential homeowners.
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GTA home sales expected to climb in 2024
The GTA housing market will improve in 2024, supported by strong economic fundamentals, according to the Toronto Regional Real Estate Board in its 2024 Market Outlook and Year in Review report.
Canadian home sales showing signs of recovery
Young Canadians exploring alternative ways to purchase a home
Economic factors, including the high cost of living, high interest rates and the price of housing, are prompting one-third of Canadians (32 per cent) to explore alternative ways of entering the housing market, according to a Leger survey commissioned by ReMax Canada.
Following a weak second half of 2023, home sales over the last two months are showing signs of recovery, according to the latest data from the Canadian Real Estate Association. Visit
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Attention all prospective condo buyers in the Greater Toronto Area: If you’ve been eyeing the market lately, you might have noticed some interesting trends unfolding. Let’s dive into what’s been happening and what it could mean for you as a potential condo owner.
The GTA condo market has seen some significant changes since April 2022, especially in the last six months, as the market has cooled. Things might not be looking up just yet, but there is some quiet confidence in the market about the final quarter of 2024, but we could be in for a bit of a slow ride in terms of condo transactions between now and October.
With slower sales, developers are being cautious in terms of buying land for future projects. There are a lot more listings for lands suitable for apartments and condo towers,
but fewer sales happening, and that there’s certainly a decent amount of listings coming on the market that are either not getting offers or not getting reasonable offers.
In the city of Toronto, there is a wide gap between what sellers think their lands are worth, and what developers believe the land is worth, based on their financial projections for condo prices and the trajectory of sales. As a result, much fewer transactions are occurring. In 2023, there were fewer high-density land sales in Toronto than in the
previous year at 33, that is 53 per cent of 2022’s total (62). While this reduction in land sales won’t impact the availability of units in the short term, the market may see additional demand pressures in the near future, as it takes years for a project to go through the stages of development.
It makes sense that many developers are concentrating on the units they have for sale now, instead of buying development lands for future projects. The slower market has forced many developers to modify their absorption and revenue expectations, which has resulted in price declines for new condo projects nearing completion and good additional incentives for projects in the pre-construction phase of development.
When looking for a new condo, buyers will often look at existing units in newly-completed buildings.
They will compare against buying a pre-construction unit, considering factors such as the time a project will take to be built and the unit’s overall cost. In a typical market –not including boom years – a new condo unit has been priced at a premium of about 15 to 20 per cent above a recently completed resale development. In comparison, when sales have been slower, the premium has dropped below 15 per cent. In 2023, despite the market slowdown, new condo projects launched in the amalgamated city of Toronto in 2023 carried a weighted average premium of over 30 per cent. Most of the projects with premiums in excess of 35 per cent experienced very poor sales.
With slower new condo activity over the last 15 months, the level of housing starts in the GTA is expected to plummet. Fewer units under construction in 2024 and 2025 will result in a severely undersupplied market in 2027 and 2028, leaving the potential for significant price increases in three to four years. There is a future opportunity to take advantage of that market, but buyers will have to be shrewd in terms of the projects they invest in today to take advantage of this future scarcity.
Finding the right unit size to invest in will be a tough decision, as unit sizes have gotten a lot smaller in recent years. As with many packaged goods, the new condo industry is experiencing “shrinkflation,” meaning that if customers cannot afford the same suites as they could a few years back due to rising costs, shrink unit sizes to an extent to improve affordability (while keeping the price per-square-foot increasing). This resulted in a large uptick in studios smaller than 400 sq. ft. and onebedroom units less than 450 sq. ft. There will be a lot of these very small units on the market, it might make sense to purchase a two-bedroom unit and rent it out to two tenants.
Looking ahead, some developers are considering shifting their focus to rental apartments, which could have the effect of further reducing
the condo housing stock. However, this professionally managed supply of apartments will compete against investors looking to rent out their suites. More food for thought.
The housing market is changing rapidly, and with many economists and bankers expecting multiple interest rate cuts in the second half of 2024, the market could come back quickly, as it has many times in the past.
Keep on doing your research, there could be some very attractive deals available in the first half of the year. Good luck.
Ben Myers is the 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. Contact him at bullpenconsulting.ca and @benmyers29 on Twitter.
The skyline of Toronto is a testament to its dynamic evolution, with each towering structure symbolizing progress, innovation and foresight.
Among the architects of this transformation stands The Gupta Group, a titan in Ontario’s real estate landscape. With one of the largest and most diverse real estate portfolios in Ontario, including 20 hotels and five million sq. ft. of properties under development, The Gupta Group is reshaping urban living and enhancing the communities where they build.
“Our mission has always been to create spaces that contribute
positively to the communities they serve,” says founder Dr. Steve Gupta. “We build more than structures; we build thriving neighbourhoods.”
The Gupta Group’s exceptional condominium projects set new standards in urban living, blending architectural ingenuity with lifestyle enhancement. Yonge City Square, situated at the corner of Yonge Street and York Mills Road, epitomizes luxury and sophistication. Boasting lush landscapes and enviable
amenities, including direct access to the subway line and backing onto the Don Valley Golf Course, Yonge City Square promises residents a resortlike experience.
Dr. Gupta elaborates, “Yonge City Square epitomizes our commitment to excellence. With its prime location and meticulously designed amenities, we aim to create a personal sanctuary for residents.”
Within The Gupta Group’s condominium portfolio, the developer is also known for Dundas Square Gardens, a 55-storey condominium inspired by its beautiful
Garden District setting, flanked by Allan Gardens to the north, and The Rosedale on Bloor, an elegant condominium on the edge of Rosedale anchored by a new lifestyle hotel, Canopy by Hilton.
Looking to the future, The Gupta Group has a strong pipeline of exciting developments coming soon. The Gupta Group has received approvals to develop the following projects in Toronto with launch dates and further details yet to be announced:
Yonge St. and Steeles Ave.: A three-tower development featuring residential units, hotel suites, and retail and office space, connected to the planned Yonge North Subway Extension on Line 1.
Yonge St. and Davenport Rd.: Two towers of residential suites and an outdoor sky garden, integrating and repurposing of the existing Heritage Building known as Ridpath’s for new retail and restaurant use.
Bayview Ave. and Eglinton Ave.: A highrise mixed-use building that will be located in the well-established Leaside neighbourhood and a twominute walk from the new Eglinton Crosstown LRT Leaside station.
King St. East and George St.: A highrise mixed-use building located within walking distance to the new Ontario Line’s Moss Park station. This will be one of the first developments in the St. Lawrence Neighbourhood Heritage Conservation District to
retain and honour the architectural legacy of the original 1800s storefronts that catalyzed the economic growth of the district.
In the realm of hospitality, The Gupta Group’s vision is equally transformative. From the upscale Revery, Curio Collection by Hilton Hotel opening in spring 2024 in the Entertainment District to another Curio Collection by Hilton Hotel set to open in 2027 as the first hotel within one km of Toronto’s historic Distillery District, each project blends heritage with modernity. Recently breaking ground and now under construction, the Hilton Garden Inn Hotel in Vaughan is set to open in fall 2025.
Commenting on these hotel ventures, Dr. Gupta remarks, “Our hotels are gateways to unforgettable experiences. With projects like Revery already making waves and exciting ventures on the horizon, we are poised to elevate Toronto’s hospitality scene.”
Beyond development achievements, The Gupta Group’s commitment to giving back sets the company apart in the industry. Rooted in Dr. Gupta’s humble beginnings, arriving in Canada in 1971 with $108 in his pocket, the Gupta Family Foundation is a beacon of hope for communities in need. Recent philanthropic endeavors include supporting cancer research, empowering underprivileged communities and fostering educational initiatives. In January 2024, Toronto Metropolitan University (TMU) announced that Dr. Steve and Rashmi Gupta made a gift of $1 million in support of Ted Rogers School of Management and its students.
With each new project, The Gupta Group reaffirms its commitment to shaping a future where excellence and empathy converge, leaving a legacy that transcends physical structures.
In Dr. Gupta’s words, “Our journey is far from over. With vision, values
and a relentless drive for excellence, we will continue to redefine Toronto’s skyline and leave an indelible mark on the community.”
For more information about The Gupta Group and its projects, visit guptagroup.ca.
MIKE COLLINS-WILLIAMS
As the Greater Toronto and Hamilton Area continues to experience the effects of the ongoing housing crisis, the development industry, alongside municipal, provincial and federal government partners, continues to advocate for policy changes to create opportunities that increase housing supply and affordability.
On March 25, in the spirit of collaboration, the Ontario Home Builders’ Association (OHBA), the West End Home Builders’ Association (WEHBA) and the Building Industry and Land Development Association (BILD), in partnership with Enbridge Gas, hosted the inaugural 2024 Central Ontario Housing Summit, in Burlington. Featuring several panel discussions, presentations by elected officials, and opportunities for open dialogue, the Central Ontario Housing Summit provided an opportunity for industry and government to engage in collaborative discussions on how to address the current housing shortage.
Beginning with opening remarks from WEHBA President John-Anthony Losani, Susan Cudahy of Enbridge, OHBA President Dave Depencier and Minister of Municipal Affairs and Housing Paul Calandra, both the private and public sector expressed commitment to working together, with a focus on “innovation, collaboration and forward thinking,” says Depencier.
For the first session of the day, Conservative Shadow Minister of Housing MP Scott Aitchison, alongside WEHBA CEO Mike Collins-Williams, discussed the role of the federal government in housing policy, his
experience as a municipal councillor in Huntsville and how, if elected a Conservative federal government would move the needle on housing. During the second session, Provincial Associate Minister of Housing Rob Flack, MPP highlighted the province’s effort to make the dream of homeownership a reality for Ontarians, through creating an environment for the private sector to deliver housing.
The first discussion panel, titled “Housing Supply in Action” featured several professionals from the residential construction Industry at large. The panel explored data, demographics and the causes of the housing crisis, as well as the next steps, including increasing support for infrastructure and innovation. Burlington Mayor Marianne Meed Ward hosted the lunch session and outlined the steps Burlington has taken to facilitate housing supply, including improvements to housing permitting processes and emphasizing the need to “shoot for the stars” on housing policy.
For the afternoon program, Parliamentary Secretary of Housing MP Chris Bittle took the stage and further explored the federal role in increasing housing supply. Following lunch, two discussion panels, “Finding the Missing
Middle” and “Building Capacity,” explored the barriers and successes in building new housing. The panels also discussed the need for cities to reduce barriers that prevent certain types of housing and innovations taking place in modular housing, automation, AI and education to facilitate building more homes during a labour shortage.
For the last session of the day, Parliamentary Assistant to the Minister of Municipal Affairs and Housing, MPP Matthew Rae emphasized the need to make the dream of homeownership a reality, and outlined what the provincial government is doing to facilitate that dream. Cudahy of Enbridge and WEHBA’s CollinsWilliams closed the event, reiterating that the private and public sectors need to take drastic action to break down barriers to housing supply, and work in collaboration to ensure affordability, attainability and quality housing for all.
TIM NG
Get ready to lace up your sneakers and hit the court or cheer from the stands for a cause, because Ballin’ Out for Charity is back and better than ever. Organized by Blackline and RAD Marketing, this annual basketball tournament isn’t just about the game – it’s about making a difference.
At the heart of Ballin’ Out for Charity is a shared commitment to fostering positive change within our community and this year all funds raised from the event will be donated to MLSE Foundation, a charity committed to making an impact with youth and communities faced with systematic barriers across Ontario.
The highly anticipated second annual basketball tournament will be taking place on April 27, 2024, with a full day of 24 teams going head-to-head in exhilarating three-on-three games for a great cause and bragging rights. The fun doesn’t end on the court though. With yummy eats, engaging activations, raffles and more – there’s something for everyone to enjoy at Ballin’ Out for Charity.
By participating in Ballin’ Out for Charity, you’re not just shooting hoops – you’re making a tangible difference in the lives of those in need. Your generosity will help support MLSE Foundation, an established charity built on the belief that sport has the power to change the world. The foundation has spent the last decade intentionally investing more than $67 million in youth and
communities faced with systemic barriers across Ontario. Its current campaign to “Change the Game” will further help their mission to provide equitable access to sport and opportunity on the playing field that leads to success and opportunity off the playing field.
The event is a great way for the real estate industry to contribute to a worthy cause, and there are a few ways you can participate. You can gather your colleagues and friends, donate to enter as a team, and get ready to showcase your skills on the court. Hung up your Jordans? No problem. You can make a donation of $50 to the charity, which brings you in as a fan anytime throughout the day. Food and activities, including raffles, caricature drawings and a live DJ, will be available for adults and kids alike.
By joining forces with like-minded industry professionals, organizers aim to not only raise funds but also promote the values of teamwork, sportsmanship and philanthropy. It’s not just about the competition; it’s about coming together for a common goal.
For more information on the event, including how to sign up and/or donate, visit ballinoutforcharity.com.
Tim Ng is the Principal and Founder of ADHOC STUDIO and BLACKLINE, an industry-leading digital studio that combines real estate, art and technology. To learn more about ADHOC’s awardwinning renderings and industry leading sales platform, BLACKLINE, visit adhocstudio.ca and blacklineapp.com.
BARBARA LAWLOR
The Trust in Real Estate Services Act (TRESA) is an appropriate name for the legislation that now governs how real estate agents and brokerages can operate in Ontario. This consumer protection legislation governs our conduct, which is a positive thing. Our business is based on engendering trust when it comes to representing clients, whether they are purchasing resale or new construction. TRESA has replaced the Real Estate and Business Brokers Act (REBBA) to build on our already established trust.
Phase 2 of TRESA took effect on Dec. 1, 2023. The amended Code of Ethics now covers only the ethical requirements rather than technical and procedural requirements. The new Code is smaller in size, but truly outlines what is expected in the areas of integrity, quality of service and conflicts of interest. Plus, realtors must provide consumers with a new information guide, which is available at reco.on.ca – the same guide used by every realtor across Ontario. This new guide explains the benefits of working with a realtor for a real estate
“
I consider what real estate professionals do a noble profession. After all, “home” has a special place in our hearts.
purchase, the risks of buying without representation, plus what obligations realtors owe to buyers and vice versa.
Among the many changes for agents and brokers is also a clarification of disclosure statements, as well as a definition of a transparent offer process. Increased communication with buyers and sellers is promoted, and of course, better communication in any scenario is best for everyone involved. For example, sellers can direct the brokerage to share details of competing offers with other buyers, as long as no personal information is disclosed to identify who is making the offer.
The Real Estate Council of Ontario (RECO) provides a new Continuing Education course regarding the Phase 2 legislative reforms. The course covers items such as competing offers, professional conduct, representation and resulting agreements, disclosures, and in general, relationships when trading in real estate. And a purchaser and agent do develop a relationship, so when the parties involved know where they stand from the beginning, there is more chance for a favourable outcome.
Like Ontario Building Code, which is reviewed regularly and amended to protect new-home buyers even more, REBBA, and now TRESA, have made Ontario a leader in North America in professional standards for real estate professionals. In the long run, these higher standards for agents and brokers are bound to improve the market, with potential purchasers having more confidence in us. The last few years have shaken the markets, but historically, we bounce back from challenges even stronger than before.
I consider what real estate professionals do a noble profession. After all, “home” has a special place in our hearts. And real estate is still a solid, tangible and potentially lucrative life and financial investment. The markets are picking up, so this new professionalism standard has come at an ideal time. There will be a third phase of TRESA in the future. For more information, visit orea.com/tresa.
Bridgehouse at Brightwater by Kilmer Group, DiamondCorp, Dream and Fram + Slokker
When Dr. Steve Gupta immigrated to Canada from India in 1971, he had $108 in his pocket and little else but dreams and aspirations for a new life in his adopted country.
Now, more than 50 years later, the chairman of The Gupta Group is a recognized leader in the hospitality and condominium industries, building an award-winning organization with more than 25 hotels across Ontario and Quebec, as well as a number of signature highrise condos.
And never one to forget his humble beginnings, Dr. Gupta is also well known for philanthropy, including
significant contributions right here in the GTA.
We spoke to Dr. Gupta to get a little more insight on his vision for his company, and for the development industry overall.
You arrived in Canada in 1971 with $108... What’s the story of what led you to come to Canada?
I initially arrived in Canada as a visitor, driven by a desire to explore new horizons. Visiting relatives here, I was struck by the country’s abundant opportunities and potential. Despite skepticism from friends and family
back home in India, I was determined to carve out a path for myself in this promising country. When my visa was approved in just 20 days, I seized the chance to start a new life.
How old were you, and what did you do first?
I was 22 years old when I first set foot in Canada. I secured a job at an insurance company, leveraging my sales skills to become the top salesman in our branch within the first year. This early success laid the foundation for my journey in the business world. In 1973, after meeting my future wife, Rashmi Gupta, back home in India, we decided to settle in Toronto and establish our roots here.
How did you get into real estate development?
With my success in sales, I saved money and pondered the best investment opportunities. My father worked in construction and our family used to own construction trucks, so I knew a bit about these industries. I made friends with workers at a gas station in Port Hope. I remember thinking there was a strong business opportunity to make this more successful. I negotiated a business arrangement to purchase the gas station and brought in some investment partners to close the deal. I worked tirelessly to help realize the potential I saw in this gas station. Within a year and a half, we doubled the volume of diesel at the station. With a great cafeteria restaurant, it also became a popular destination for local residents on the weekend. This is how I became interested in buying property where I could see investment potential.
What do you consider your crowning achievement in real estate development?
Every new project I put my heart and soul into. Dundas Square Gardens was a huge achievement for the company. At the corner of Dundas and Jarvis, the property was an RCMP building the government had been trying to sell for 10 years. Fifty-seven developers made offers and walked away from the property, but I saw the potential and was relentless in my approach. When I heard about the property, I walked through the building a day later, and two days after that, I received the site plans. I stayed up all night calculating how many hotel rooms we could build and worked out the math. Within a day or two from there, we closed a deal.
We converted the RCMP building into The Comfort Suites City Centre, which was named International Hotel of the Year by Choice Hotels in 2003. Later, we demolished and rebuilt this into Dundas Square Gardens, a 55-storey condominium inspired by its beautiful Garden District setting and flanked by Allan Gardens to the north.
One of your current projects is Yonge City Square. How are things coming along there?
Yonge City Square is exceeding our expectations, with sales progressing exceptionally well. With its prime location and meticulously designed amenities, the project has been met with enthusiasm from investors and future residents alike. Backing onto the Don Valley Golf Course with a ninth-floor lavish terrace featuring an outdoor pool overlooking vibrant green landscapes, Yonge City Square will create a resort-like experience for residents.
What is it about this project that distinguishes it from others in the city… why should prospective buyers consider Yonge City Square?
Yonge City Square’s standout feature is its unparalleled location. It’s the first and only new development in the Hoggs Hollow neighbourhood in 20 years. It’s also uniquely positioned near other sought-after neighbourhoods such as Bedford Park, Bayview Village, Lawrence Park, Willowdale and the Bridle Path, and connects residents to diverse leisure, shopping, dining and entertainment
options in all directions. It also provides direct access to the York Mills subway station, so residents can be in downtown Toronto or North York in minutes.
Who is the target demographic for this project?
We’re seeing a diverse mix of buyers interested in Yonge City Square. From investors recognizing its potential, to end-users seeking a convenient and luxurious lifestyle, the project appeals to individuals and families alike.
What’s your assessment of the GTA housing market these days?
There seems to be more signs of things heating up, returning to the typical spring market rush, at least on the resale side… The challenges on the development side are a little more chronic… Despite fluctuations, I firmly believe that real estate in Toronto remains a sound investment. While market conditions may vary, properties such as Yonge City Square hold immense value over the long term. With interest rates stabilizing and demand persisting, the future looks promising for both pre-construction and resale markets.
If you could advise the province, or even Ottawa, on housing policy, what would suggest they do, both now and over the longer term?
In the short term, the city and province need to come to a resolution that will speed up development approval timelines. Right now, the process slows down housing supply, which the city needs more than ever. Approvals can also take so long that from the time applications are submitted to when they are approved, the market will have completely changed and construction costs look very different, which can cause further delays.
I also believe fostering partnerships between the public and private sectors for land development can accelerate the delivery of new housing options. There is a lot of unused government-owned land that the government should be proactively seeking deals for, working with developers on solutions that will benefit the community.
What’s next for you, in terms of residential development?
Looking to the future, we have a strong pipeline of exciting developments coming soon. We have received approvals to develop
new projects in Toronto with launch dates and further details yet to be announced. Many of these projects feature a mix of residential, hotel, retail and commercial space. The four approved projects will be at Yonge St. and Steeles Ave., Yonge St. and Davenport Rd., Bayview Ave. and Eglinton Ave., and King St. East and George St.
You’re well known for your philanthropic work. Why is that so important to you?
to contribute their part to the greater good.
Any favourite charities or groups?
We are proud to support numerous hospital foundations. For example, we announced that The Gupta Group would donate $1,000 per unit sold at Yonge City Square to the Princess Margaret Cancer Hospital Foundation and will top off funds for a total donation of $1 million upon the final closing of condominium units.
The Gupta Group believes not only in building communities but giving back to the people in those communities. We launched The Gupta Family Foundation to spread our message of hope and compassion. We believe that a single action can make a difference in the community, and that collective action can greatly impact the world. Through advocacy and outreach activities, our team passionately is driven each day
What or who inspires you most?
We are also pleased to have donated $1 million in support of Ted Rogers School of Management at Toronto Metropolitan University because we feel that it’s important to educate the new generation who can change the future of our country.
Finally, we have a long-term commitment to the dearly loved Toronto International Film Festival, which we continue to support. guptagroup.ca
My family is my greatest source of inspiration. Their unwavering support and strong values drive me to push boundaries and pursue excellence every day. Living in Canada, where diversity thrives, is also a constant reminder of the endless possibilities that lie ahead.
When you look at your early life, your arrival in Canada, what do you think about?
Reflecting on my journey from humble beginnings to where I am today fills me with gratitude. I never imagined in my wildest dreams this was where my career would take me. I’m amazed at how far determination and hard work can take you. My arrival in Canada marked the beginning of an incredible adventure, and I’m thankful for every opportunity I’ve had along the way.
What’s on your reading list?
Right now, I’m reading A Promised Land by Barack Obama. It’s inspiring because he came from a minority background and also worked hard to achieve his dreams. I recall him writing that if he could inspire even a few people, that would be his achievement. I very much hope I can do the same thing.
I also recently finished reading my daughter Reetu Gupta’s new book, Auspicious, available on amazon.ca. It’s an inspiring read about embracing the path toward courage, conviction and confidence.
Households spending more than 50 per cent of their income on housing experienced a lower well-being score – comparable to some of the most significant health challenges faced by a society, including cancer.
TRREB’s must-read 2024 Market Outlook and Year in Review Report sheds light on the evolving landscape of the GTA housing market.
The pivotal research commissioned by TRREB, including the Canadian Centre for Economic Analysis (CANCEA)’s study Locked Out: The Social Value Cost of the GTA’s Housing Crisis, reveals profound insights into the implications of housing unaffordability.
CANCEA’s findings highlight residents who grapple with housing unaffordability challenges report lower overall satisfaction and heightened stress. A staggering negative social value cost for residents living beyond their means, amounting to $37 billion in 2023. According to the report, “The social value cost attributed to housing unaffordability in the GTA is approximately 1.75 times greater than that of cancer in the GTA.”
Most strikingly, the research reveals that the social value cost of housing unaffordability surpasses that of major chronic diseases such as cancer, diabetes and heart disease. This comparison underscores the severity of the housing unaffordability crisis and emphasizes its significant impact on individual well-being.
It’s clear that housing affordability is not only an economic issue, but also a societal one. By acknowledging the social value cost and its comparison
to major health challenges, we can advocate for meaningful solutions that prioritize the health and stability of our communities.
To read the full report and much more, explore TRREB’s 2024 Market Outlook and Year in Review. You can also check out our monthly Market Watch. We break down prices, sales, and new listings each month with an easy to glance report. Visit trreb.ca for the latest look into the housing market and to connect with a TRREB member realtor.
Jennifer Pearce, TRREB President, is a Broker and Owner with ReMax Rouge River Realty Ltd., a family owned and operated brokerage. She is a secondgeneration realtor and has been licensed since 2000. trreb.ca
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Whether you are a young or an older person, preparing Powers of Attorney and Wills is a necessary evil that everyone not only should do but must do. I stress this because I have seen so many times the mess that is left behind when an individual doesn’t take care of their affairs and a family is left trying to pull the pieces together.
This article is not about your Will, it is about preparing Powers of Attorney and not just using printed forms. This became glaringly obvious to me recently when a man suffered a brain aneurism, and his wife was put in the horrible position of having to decide whether to end all life support, effectively leading to the death of her husband.
The husband should have made that decision himself earlier, and spared his wife the horror and guilt. How do we do that?
There are two kinds of Powers of Attorney (POA) that each of us should sign. The first is for financial matters. This POA allows the designated attorney to conduct all financial affairs, as if he or she were that person. This would help, for example, in a case where a person had two broken arms and couldn’t sign cheques. Even with this POA, if you want restrictions and specifics, you need to have the lawyer you retain include these details in the legal document.
The POA for personal care gets even more tricky. This is where you need to think about all of the potential problems that could occur,
and how you want to make decisions on what happens in advance. As an example, here is one kind of clause: I do not wish to be kept alive for any significant period of time if I am in a vegetative state or I am being kept alive by artificial means, unless there is a reasonable chance of my recovery such that I will no longer be in a vegetative state or kept alive by artificial means. Where there is no reasonable chance of recovery, I direct that I be allowed to die and not be kept alive by medications, artificial means or “heroic measures,” and I direct that any such medications, means or measures that would keep me alive in those circumstances be withheld or withdrawn. I do, however, ask that medication, means and measures be mercifully administered to me or medical or surgical procedures be taken to
alleviate suffering even though this may shorten my remaining life.
Or, as an example, here is a list to consider: Health care, nutrition, shelter, clothing and hygiene. At our firm, we typically arrange for either a GP or surgeon to be available to review these issues, and be able to discuss them with our clients as part of the process in order that we might incorporate their desires into their POA.
Taking these steps and clarifying these matters now is the best gift you can give your loved ones. Don’t wait.
Jayson Schwarz LLM is the founding senior partner of Schwarz Law Partners LLP. schwarzlaw.ca.
The Greater Toronto Area (GTA) is in an ongoing state of transformation, and nowhere is this more evident than in areas surrounding key transit developments. Toronto, Pickering and Mississauga stand as a few prime examples of regions experiencing a dynamic relationship between transit expansion and pre-construction property values.
Yorkdale Mall, renowned for its upscale shopping experience, has undergone a remarkable evolution in recent years, driven in part by transit enhancements. The opening of the Yorkdale subway station in 2017 as part of the Toronto-York Spadina Subway Extension not only improved accessibility to the mall but also boosted development in its vicinity. Pre-construction properties such as The Wilde by Chestnut Hill Developments launching this spring near the station have experienced heightened demand, with investors and homebuyers recognizing the appeal of seamless connectivity and urban conveniences.
Similarly, Pickering has emerged as a hub of transit-oriented growth,
fueled by the development of the Pickering GO Station and plans for the Durham-Scarborough Bus Rapid Transit corridor. These transit initiatives have positioned Pickering as a strategic location for both residential and commercial development, with pre-construction properties such as the masterplanned community of Universal City by Chestnut Hill Developments benefitting from the promise of enhanced transit connectivity and future economic prospects.
In Mississauga, transit developments such as the Hurontario LRT project have reshaped the city and influenced property values. With plans for a new LRT line connecting Mississauga and Brampton, areas along the corridor have seen a surge in interest from developers and prospective buyers. Preconstruction properties by Amacon and Branthaven in Mississauga’s growing neighbourhoods stand to benefit from improved transit access, fostering a vibrant urban environment and strengthening property values in the process.
The influence of transit developments on pre-construction property values extends beyond mere proximity to transit hubs. Transitoriented communities, characterized
by mixed-use developments and pedestrian-friendly infrastructure, are becoming increasingly sought after. These neighbourhoods offer residents a blend of convenience, connectivity and amenities, driving up property values and fostering sustainable urban growth.
In conclusion, transit developments are exerting a profound influence on pre-construction property values and as the GTA continues to evolve and expand its transit network, stakeholders must remain aware to emerging opportunities and trends in real estate markets. By leveraging the transformative power of transitoriented growth, investors and homebuyers can capitalize on the dynamic relationship between transit developments and property values, shaping the future of urban living in the GTA.
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
JESSE ABRAMS
If you’re planning to purchase a home as a first-time buyer, it’s likely you’ve devoted your blood, sweat and tears
to building up your down payment. Let’s say you’ve finally saved enough cash to buy your first home purchase. To ensure you get this process started on the right foot, it’s essential that you consider the other expenses that come with this investment beyond your down payment.
With most first-timers focused on their down payment, they sometimes forget about the expenses that come at the end of the homebuying process, also referred to as closing costs. These are the total fees and expenses homebuyers need to pay
to finalize their home purchase, and they can add up quickly. Closing costs typically range from 1.5 to 4.0 per cent of a home’s purchase price. For example, if you’re buying a property worth $720,000, you could pay anywhere between $10,800 to $28,800 in closing costs. Generally, closing costs are paid when the property title is officially transferred from the seller to the buyer; however, there are some cases when these costs are incurred before the closing date.
Closing costs include appraisal fees, which provide an estimate of the property’s value and typically range from $250 to $350; home insurance to protect against the threat of fire or natural disasters; land transfer tax, which is a provincial tax calculated based on the home purchase price; closing adjustments, which account for costs not included in your original home purchase price, such as a hot water tank rental; title insurance to protect against title fraud; and real estate lawyer fees.
When you’re on the brink of buying your first home, do not overlook the importance of a home inspection. Part of your total closing costs, the average cost of a home inspection ranges between $500 to $1,000. While it might appear like an additional expense in the grand scheme of your purchase, it has the potential to save you thousands of dollars down the line, along with peace of mind. The size and structure of your new home will generally dictate the cost of the inspection.
A home inspection is crucial as it can expose potential costly repairs or maintenance issues that you might have to deal with in the future. Not to mention, many lenders require a home inspection to assess the property’s condition before approving your mortgage. More than just ticking a box for your lender, a home
inspection helps to ensure you are making an informed decision.
Another expense for new homeowners to consider is property taxes. These taxes are calculated based on a percentage of your home’s value, can vary based on the city you live in and need to be paid on an annual basis. If you’re buying a resale home, you may have to repay the previous homeowner at closing if they paid the property taxes in full for the year.
Before buying, it’s important to research the property tax rates in your area and understand how they might affect your annual expenses. In some cases, property taxes can be included in your monthly mortgage payment, but in other situations, you may be required to pay them all at once. Overlooking this expense is an unpleasant surprise, that’s why it’s
important to factor them into your budgeting from the start.
Understanding and preparing for these “other” expenses can significantly ease your transition into homeownership. It’s not just about having enough for your down payment but also being financially prepared for these additional expenses. Ensuring you have a comprehensive understanding of the total cost of buying a home will help you budget better and avoid any financial stress as you enter this new and exciting chapter of your life.
Jesse Abrams is Co-Founder at Homewise, a mortgage advisory and brokerage firm. thinkhomewise.com
Spring is here, and with it comes the traditional release of all new and wonderful fabrics bursting with vibrant colours, patterns and textures. As a designer, I look forward to the start of a new project. I enjoy pouring over fabric books gathering ideas and direction and have been known to design an entire space just from the inspiration of one fabric.
Fabric is tactile, and the feel of lush soft velvets, the beauty of some richly woven silks and the simplicity and texture of coarsely woven linen accompanied by rich, saturated colours is enough to inspire anyone to decorate. The question, however, is with all of these fabrics and patterns to select from how do you know what works together to achieve that “designer look” in your home.
Blending all different fabrics together is not as difficult as you may think, but there are a few key points to remember. To successfully mix fabric patterns like a pro a good place to start would be with something simple like blending a minimum of three fabric patterns. The first pattern selection should be your most impactful one therefore, choose carefully and select a pattern you love that is larger scale.
The second pattern should be completely different, probably about half the scale of the first one and have some of the same colours incorporated throughout.
For the third selection, it can be smaller scale and similar in pattern to either of the first two, with at least two to three of the colours found in the other patterns. So, for example, if you have selected a large-scale
floral as your first pattern, the second could perhaps be a bold stripe or a geometric fretwork pattern, and then blend in another small-scale alternate geometric.
Consider adding another pattern or two, or three, if you wish; maybe a small check, a dot pattern is always favourable, or perhaps repeat with another stripe or floral. If you’re more adventurous, consider throwing an animal print into the mix for a bit of fun.
Balancing textures and fabric weight is also important to achieve a well-blended mix of fabrics, as is maintaining the same depth or magnitude of colour. By that, I mean if you’re working with primary colours, then try not to incorporate fabrics that are pastels, as you will inevitably create an imbalance.
When combining and layering patterns, it is important to balance the patterns throughout your space, the last thing you’ll want to do is create a situation where the heavier weight of patterns and colours are all at one end of the room. They should be well proportioned
with solids and any other visible patterns in your room, such as area rugs, wall coverings, fireplace surrounds to provide equilibrium and an aesthetically pleasing look. In addition, it’s important when pairing up your choices to consider the “feel” of the fabrics you’re selecting – for example, whether they are formal or more casual – and then maintain consistency.
Pattern blending can be fun, and these fabrics can create a bold statement in your home. Mixing fabrics like a pro is all about balance, layering and blending. When it’s done well, contrasting but complementary patterns and textures can elevate your space beyond the typical to a fresh, innovative and welcoming home. Toiles, stripes, florals, ikats and check are just some of the many different patterns we see, blend them with rich velvets, textural boucle, linens or silks to give your home that designer touch.
Just remember to keep a common element, and work with your scales and colours to see your home come alive.
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
The opportunity to live in a townhome or condo has a lot of great benefits. It’s an ideal choice for a family who wants the feel of a single-family home without all of the many maintenance responsibilities that go along with it. Living in a
townhome or condo is also ideal for a single person or working couple that has little time for maintenance or just wants to enjoy their free time instead of mowing the lawn.
With Toronto new home prices soaring over the past several years,
many people can’t afford the deposit on a new home, while the idea of moving into a condo or an older, renovated home is equally as unattractive. What appears to be the best solution is a townhome with its own front door, parking spot, and in most cases private outdoor space.
If you’re thinking of buying a townhouse or condo, here are a few of the main reasons you may want to strongly consider it:
There’s a certain historic and timeless quality of many townhomes or condos being built today. They’re found in virtually all great cities of the world – Paris, London, Boston, New York and now Toronto. They stand the test of time; they’re never victim to the trends of home builds and because of that, they just grow in value as time goes by. It’s a great investment.
Townhomes and the land they are on is owned entirely by the homeowner, so there is a certain joy in knowing this small plot of land is yours to do with as you please. Whether you’re hosting a backyard barbecue or creating your own little garden, your outdoor space is your small oasis. Plus, some townhome associations include snow shovelling, lawn maintenance and landscaping for a monthly fee – an amazing convenience for those who would prefer someone else do their yard work.
The maintenance of a townhouse is far less than a single-family home. Typically, in a townhouse community, the homeowners’ association handles all the external maintenance to ensure a uniform appearance across all townhomes in the community and the owner is responsible for basic maintenance of the interior.
Because townhome residents tend to live in proximity to each other, you
have the opportunity to really get to know your neighbours and build that sense of community amongst yourselves. This can also give you peace of mind knowing you’re all looking out for each other.
Unlike condo-style living, generally on one level, one of the nice benefits of living in a townhome is the multi-level floorplans. You will have plenty of space (and privacy) for you and your family with bedrooms upstairs, spacious kitchens and even the option of fully finished basements. In addition, with many of us spending some or all of our time working from home, having the
multi-floors makes it easy for two to work remotely without the risk of disturbing one another.
Townhomes are designed for a convenient lifestyle. They’re located in urban centres with lots of amenities, shopping, restaurants, attractions and entertainment right close by. Good developers will often build in areas in proximity to public transit and easy driving access to the city, so homeowners are close to the necessities of everyday living. It really is the best of many worlds –convenience, community, space and no maintenance.
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
We dive into the art of creating a home that reflects your unique styleby SARA DUCK • photos NIKI MCKEAN
Did you know that “authentic” was declared the word of the year for 2023 by the Merriam-Webster dictionary? As we embrace 2024, the resonance and significance of this simple word will persist with continued influence. Here at RENO+DECOR, we’re all
about delivering real content that ignites your creativity to achieve an authentic home vibe. After all, decorating your space is more than just arranging furniture and choosing colour palettes; it’s about infusing what you love into every corner.
“Living authentically means living how you want to live by building a space that makes you feel good in
your heart. That’s a true home,” says Tiffany Pratt, a Toronto-based multidisciplinary designer and artist with an unmistakably authentic style.
To truly decorate with the authentic you in mind, the journey begins with a thoughtful exploration of your tastes,
It’s the details that fuel authenticity. Custom-made throw pillows with fabrics that reflect your cultural background or a gallery wall of your own photography, can transform a generic space into a personalized haven. Or, embrace imperfections and quirks, whether it’s a well-worn bookshelf that tells tales of countless reads or a hand-crafted pottery collection showcasing the unique irregularities of each piece.
Colour is also a powerful tool to express your authentic self. Don’t shy away from bold hues if they reflect your personality. “Adding colours that make your heart happy is a great way to feel joyful and express who you are,” says Pratt. “The colours you choose become an expression of you at home.”
and adhere to your lifestyle. If you love hosting game nights, invest in a spacious dining table or a comfortable sectional. For avid readers, a cosy nook with a well-stocked bookshelf could become the heart of your home. Align your furniture with your daily rituals and activities, so your space is beautiful and purposeful.
When it comes to artwork, choose pieces that speak to your emotions, personal style and taste. It doesn’t have to be from a high-priced gallery; it can be your own creations, canvases from local artists, or even a tapestry collected during your travels.
experiences, and the unique elements that define you.
Start by taking a trip down memory lane. Unearth artifacts from your past – travel souvenirs, inherited heirlooms, or mementoes from significant life events. These pieces carry stories. Integrating them into your decor is like creating a visual autobiography. The vintage postcard collection from your backpacking days or the quirky teapot handed down from a grandparent can be focal points for their aesthetic appeal and the memories they evoke.
Let colour play a role in conveying your energy and passion, whether it’s an accent wall in your favourite shade or an array of vibrant throws. If you’re drawn to soothing neutrals, layer textures and materials to add depth and interest. The key is to create a colour palette that feels inherently you.
Furniture choices should be aesthetically pleasing, functional
Plants bring life and vitality to any space and choosing them based on your lifestyle is key. If you have a green thumb and the time to care for them, a variety of indoor plants can flourish. If you’re a bit more hands-off, opt for low-maintenance succulents or faux greenery that still adds a touch of nature without the commitment.
As you grow, travel and experience life, let your home’s interior grow with you. Embrace change, add new layers, and don’t be afraid to let go of items that no longer resonate with the person you are becoming.
With more than 15 years’ experience as a magazine editor, writer and content creator, Sara brings her passion for design and decor to our pages each issue. Instagram: @bysaraduck
What does the shelving in your home say about you? Perhaps you’re organized, well-travelled or family oriented. Maybe your bookshelves express your love of reading, photography or board games. But beyond the display, the type of shelf can speak volumes as an
architectural feature that is as much a focal point as the items on show.
With a variety of designs and materials to choose from, the aesthetic options are endless and there is something to appeal to every style preference. Of course, we can’t ignore the original intent of this household staple – storage.
So, whether you’re contemplating
custom-built shelves or revamping an existing set, ensure you reserve a place for function and style.
When it comes to aesthetic preferences and storage, custom-built shelving offers the perfect blend of beauty and brawn, allowing you to
Photo: Kiely Ramos Photo: Kiely Ramos
tailor the shelving to your lifestyle, your needs and your space. Start by assessing what you need, which items will be displayed and what storage requirements must be met. Consider the depth and height of the shelves to accommodate various items, from books to decorative pieces. Custom shelving is ideal if you have unique storage needs or style preferences, or if your home boasts unusual dimensions, allowing you to maximize every inch rather than trying to find a suitable pre-made option.
Open shelves are a stunning, versatile choice, fitting seamlessly into various spaces such as the kitchen, living room or home office. I personally love open shelves, because they provide easy access and also encourage a curated, organized look. Admittedly, they do require a highly organized, simple approach. The key lies in mastering the art of the display. The following are some of my favourite tips for creating a thoughtful arrangement.
To add warmth and character to your shelving, incorporate natural wood for a warm and inviting feel or opt for metal accents for an industrial touch. The interplay of textures, such as woven baskets or ceramic vases, adds depth and visual interest to your display. The tactile experience of different materials enhances the overall appeal of your shelves, creating a space that feels lived-in and personal.
Shelving is more than just a storage solution; it’s an opportunity to tell the story of the people who live in the space. Use your shelves to display personal items, cherished mementos and unique artifacts. Whether it’s a collection of travel souvenirs or family heirlooms, integrating personal elements on your shelves creates a narrative that resonates with everyone who enters the room. This not only adds character, but also fosters a sense of connection between you and your living space.
Create a cohesive and visually appealing shelf display by distributing and repeating colours strategically. Consider a colour scheme that complements the room’s overall palette. To maintain balance, imagine an invisible line connecting the tops of each item on the shelf. Strive for a zig-zag pattern to add visual interest, preventing a monotonous look. By repeating decorative accents and elements, you create a harmonious and uniform appearance from top to bottom, ensuring a polished and stylish display.
Transforming your shelving from a basic storage solution into a personalized and stylish focal point requires thoughtful planning and a creative eye. It all starts with a great shelf that complements your space, coupled with meaningful and interesting accessories that reflect your style and yourself. The outcome will be as unique as you are. Trust me, don’t “shelf” these ideas. Put them front and centre, and you can thank me later.
Amanda Shields is the creative director and principal designer for Amanda Shields Interiors. The design firm focuses on creating stylish, approachable family-friendly interiors. amandashieldsinteriors.com IG: @amandashieldsinteriors Photo: Kiely Ramos Photo: Larry Arnal
developer: NATIONAL DEVELOPMENTS AND BRIXEN DEVELOPMENTS INC.
style: Highrise
size: 26 storeys
features:
• Studio, 1 bed, 1 bed + den, 2 bed, 2 bed + den
• Lobby, Gym, Co-Working Space
• Kids Playroom, Party Room, Private Dining Room With Catering Kitchen
• Rooftop with BBQ’s, Flex Lawn, Dining and Lounge Areas register at: duocondos.ca
location: Steeles Ave. W and Malta Ave. just west of Hurontario
First Release is Sold Out. Register for New Release.
developer: DEVRON
style: Highrise
size: Up to 1,200 sq. ft.
features:
• Experience life along the city’s historic avenue, surrounded by heritage charm and urban connections. A new public park; your front yard. A building made of stone with protected views. Future-minded; built to last. A vision with intention. An emphasis on comfort and quality of life. A home for those who expect more.
contact: 101spadina.com
location: Presentation Gallery: 106 Spadina Avenue
developer: BRANTHAVEN
project name: Birch Condos & Towns at Lakeview Village
style: Highrise Condos and Towns
features: 298 Condos & 59 Towns
prices from: TBD
features:
• Part of Mississauga’s most anticipated master planned waterfront community, Lakeview Village.
• Waterfront trails, beaches, parks, schools and shops
• Fully furnished indoor and outdoor amenities designed by II BY IV DESIGN
• Rooftop terrace, fitness facility, dining/social lounge, media/games lounge and pet spa
• BH Home TechnologyTM , a Smart Home solution providing integrated building/home access and control system
• 1-3 bedroom condo units
• Located between Port Credit and Long Branch Go Stations
contact: Branthaven.com
location: Hydro Road, Mississauga
developer: EQUITON DEVELOPMENTS
style: Boutique, 11- Story, Midrise
size: 328 to 1,024 sq. ft.
prices from: From $400,000s
features: Conveniently located on The Queensway, minutes to everything. Steps away from shops, restaurants, schools, parks, Go Train and TTC. Easy 15-minute commute to downtown Toronto. Curated, Scandinavian-inspired amenities include: Rooftop Party Room, Private Dinning, Outdoor Yoga & Meditation Zone, Quiet Lounge Zone, Alfresco Dining & BBQ Area Outdoor Lounge Area with Fireplace, Fitness Centre, Nordik Wellness Room with Infrared Sauna & Cold-Water Immersion & Resting Area, Entertainment & Games Room, Connectivity Lounge, Kids Zone, Pet Spa, Pet Relief Area, Parcel Room and Luxurious Lobby
contact: equitondevelopments.com
location: 875 The Queensway, Toronto
developer: AMEXON DEVELOPMENT CORPORATION
style: Highrise – 12-acre, master-planned community
size: 436 - 1,200 sq. ft.
prices from: from the $700,000s
features:
• 1 Bed, 1 Bed+Den, 2 Bed, 2 Bed+Den, 3 Bed+Den
• Spacious layouts, terraces/balconies
• Located in the Bayview Village neighbourhood
• Leslie subway station and GO Transit at your door
• Direct access to the East Don Parkland ravine
• Central Park Common – a three-acre urban park offering year-round, outdoor event programming
• 55,000 sq. ft. of resort-style amenities including coworking space, skating rink, indoor and outdoor saltwater pools, privately operated childrens’ daycare, EV charging stations in all parking areas
contact: centralparktoronto.com • (416) 252-3000
location: 1200 Sheppard Avenue East
developer: THE GUPTA GROUP
style: Highrise
size: Ranging from approximately 350 to 1,900 sq ft. prices from: From the low $700,000s features: Suites with up to 11-ft high ceilings, expansive balconies or terraces, Stainless Steel appliances, spainspired bathrooms, and more
amenities: Ninth-floor lavish terrace and pool with private cabanas, BBQ stations, and outdoor prep kitchen, a golf simulator and bar, a fitness centre featuring a yoga studio and infrared sauna, a children’s playground, and more
contact: info@yongecitysquare.com
location: Toronto
BRAMPTON
1. Bristol place 199 Main St, North, Brampton
2. Duo condos Malta ave & Steeles Ave
CALEDON
3. Mayfield Collection 2256 Mayfield Road. Mayfieldcollection.ca
ETOBICOKE
4. Curio Condos 801 The Queensway marlinspring.com
5. Humberwood Heights 50 Humberwood Blvd. tributecommunities.com
6. Arcadia District Bloor & Kipling arcadiadistrict.com
7. Kül Condos 875 The Queensway kulcondos.com
MARKHAM/ UNIONVILLE
8. Panda Markham 8200 Warden Ave. lifetimedevelopments.com
9. Gallery Towers at Downtown Markahm 162 Enterprise Blvd. downtownmarkham.ca
10. Highmount 4077 Hwy. 7 highmountbykingdom.com
MISSISSAUGA
11. Birch at Lakeview Village Lakeshore & Dixie Rd. branthaven.com
12. Artform Condos 86 Dundas St. E. emblemdevcorp.com
13. Exhale Condominiums Lakeshore Rd. East & Dixie Rd. exhalelakeshore.ca
NORTH YORK
14. Central Park Sheppard Ave. East & Leslie St. amexon.com
15. Yonge City Square 4050 Yonge St. yongecitysquare.com
PICKERING
16. Vupoint Kingston Rd. & Liverpool Rd. tributecommunities.com
OSHAWA
17. U.C. Tower 2425 Simcoe St N,Oshawa tributecommunities.com
TORONTO
18. 111 River St. Condos 111 River St. lifetimedevelopments.com
19. Lawrence Hill Urban Towns Don Mills & Lawrence lawrencehillurbantowns. com
20. 489 Wellington St. W. 489 Wellington St. W. lifetimedevelopments.com
21. 500 Dupont St. 500 Dupont St. lifetimedevelopments.com
22. Artistry Condos 292 Dundas St. W. tributeartistrycondos.ca
23. Panda Condos Yonge & Dundas. lifetimedevelopments.com
24. 36 Eglinton Ave. W. 36 Eglinton Ave. W. lifetimedevelopments.com
25. Linx Condominiums Danforth & Main tributecommunicties.com
26. Y&S Condos 2161 Yonge St. tributecommunities.com
27. 50 at Wellesley Station
50 Wellesley St. East pureplaza.com
28. No. 1 Yorkville 1 Yorkville Ave. pureplaza.com
29. Theatre District
30.
31.
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
39. 225 Jarvis Street Condos Dundas St. East & Jarvis amexon.com 40. 101 Spadina Spadina & Adelaide 101spadina.com 41. The Residences of Central Park Sheppard Ave. East & Leslie centralparktoronto.com 42. The Dawes at Main Street Danforth & Main St. thedawes.com 43. Birchaus Birchcliffe Village on Kingston Road birchausresidences.com 44. Knotting Hill 4000 Eglington Ave. W knottinghillcondominiums. com VAUGHAN 45. Park Avenue Place 1 & 2 Jane St. & Rutherford Rd. solmar.caThe latest properties in the Southwestern Ontario Area to keep your eye on
1. Affinity Condos
2. Millcroft Towns Appleby Line & Taywood Dr. branthavenmillcroft.com
3. North Shore North Shore Blvd. & Plains Rd. nationalhomes.com
FORT ERIE
4. Discoverie Condos Signature Communities discoveriecondos.ca
HAMILTON
5. 1 Jarvis 1 Jarvis 1jarvis.com
6. The Design District 41 Wilson Street emblemdevcorp.com
7. Corktown 225 John Street South corktown.condos
NIAGARA REGION
8. Lusso Urban Towns Martindale Rd. & Grapeview Dr. lucchettahomes.com
OAKVILLE
9. The Greenwich Condos at Oakvillage Trafalgar Rd. & Dundas branthaven.com
10. Synergy McCraney St. E. & Sixth Line branthaven.com
11. Upper West Side at Oakvillage 351 Dundas St. E. upperwestsidecondos2.ca
12. Greenwich Condos at Oakvilage Trafalgar Rd. & Dundas St. branthaven.com
13. Villages of Oakpark Dundas & Trafalgar ballantryhomes.com
14. Casa Di Torre 980 Queenston Rd. branthaven.com
15. On The Ridge Lormont Blvd. & Chaumont Drive liveontheridge.ca
Welland
Join us in planting 2 million trees along the 401 Highway of Heroes, a tribute to the men and women who fought for Canada in our wars, and a living memorial to the 117,000 who died for freedom.
Get involved today: As
You meant to have your kitchen redone or your bathroom finished this winter, but spring is here and your renovation project is still only an idea. Not to worry, because now is the perfect time to start planning to make your renovation a reality.
With a generous lead time, you can afford to be thorough with every step in the renovation process, increasing your chances of success. The first step is to articulate what goals you want to achieve with your renovation and develop a clear description of what you want to change. Write down your priorities and items that would be nice to have if your budget allows. Make sure everyone in your home participates in the discussion so you have a complete picture of what is needed.
Next, find a professional renovator who will guide you through the process. The good ones get booked up months in advance. You will be putting a lot of trust in this person, so look for a renovator who is a member of BILD’s RenoMark program, which means that they have committed to the RenoMark code of conduct and BILD’s code of ethics. To find a RenoMark renovator, visit renomark.ca.
Price is an important consideration when choosing a renovator, but experience, construction schedule and references are just as crucial. Take the time to check three references to get a good understanding of how the company operates.
Once you have selected your professional renovator, he or she may bring in a designer or architect and together you will work through your project outline and create plans and specifications. These will help determine the budget estimate and any building permits and approvals you will need. In some municipalities, obtaining building permits and approvals can take many weeks and even months – another reason it’s good to start the process early.
When you are comfortable with the preliminary design, budget, and timetable, you’re ready to draw up a written contract with your renovator. The contract sets out the precise scope of the work, the price, a schedule of payments, a reasonable timetable for completing the work, product-specific details and a warranty clause. The contract should be reviewed by a lawyer.
A RenoMark renovator will provide a contract for all projects. Avoid renovators who offer to work without
a contract, even if they promise to skip the HST or offer another incentive. They may not be paying workers’ compensation or carry adequate insurance, leaving you at financial risk.
My final piece of advice is to spend some time on renomark.ca and read the articles – they cover various aspects of renovation in more detail.
Renovating your home is exciting and rewarding. And as you can see, there’s plenty you can do to make sure you’re prepared.
Dave Wilkes is President and CEO of the Building Industry and Land Development Association (BILD), the voice of the homebuilding, land development and
