Eastern Ontario New Home & Condo Guide - Nov 26, 2016 by NextHome

NOV 26 - DEC 10, 2016 VOLUME 16, ISSUE 22, FREE

-O PULL UT SEC AL TI CI

N O

SP E

EASTERN ONTARIO EDITION

FEATURING

DO M

IT IE S

spotlight on condos U INIU M COMM

Meet Gotham, Lambâ&#x20AC;&#x2122;s Stunning Completed Condominium in The Capital.

INSIDE THIS ISSUE

THREE GOOD REASONS TO SHARE YOUR NEW-HOME BUYING EXPERIENCE

IN-LAW SUITES: BUYING A HOME WITH RENTAL POTENTIAL

WHAT WILL OUR NATIONAL HOUSING STRATEGY LOOK LIKE?

ottawahomes.minto.com

DS 016 N E 9, 2 R 1 FE ER F O MB CE E D

*Based on $12,500 down payment at 2.59% 5 year fixed term. Price and specifications are subject to change without notice. Renderings are artist concept. E.&.O.E. **Select suites, offer ends December 19, 2016, see sales rep for details.

Infusion Terrace Homes by Minto Chapman Mills Barrhaven from

Avalon Encore OrlĂŠans from

$189,900

$184,900

Up to $5,000 Design Centre Bonus OR $3,000 OFF base price PLUS 3 stainless steel appliances (fridge, stove, dishwasher)

+ NO CONDO FEES FOR 1 YEAR**

tons of natural light

parking included

Chapman Mills Sales Centre 4005 Strandherd Drive 613-823-1900 ChapmanMillsSales@minto.com

3 appliances included

large balcony

no condo fees for 1 year

Avalon Encore Sales Centre 2370 Tenth Line Rd (across from Southfield Way) 613-834-6400 AvalonSales@minto.com

SUMMERSIDE WEST OFFERS A LOT MORE FOR A LOT LESS

AFFORDABLE, STYLISH TOWNS & DETACHED DESIGNS Summerside West is our thriving new community in Orléans. Ideal for energetic, modern families, your community is centred around a 27-acre park & pond complex. You’re also conveniently close to great recreation, entertainment and shopping. Make your best choice, visit our Sales Centre today.

ELEV. ‘A1’

VILLAGE HOME, THE APPLEBY ‘A1’ 1,100 SQ.FT. $224,990

SALES CENTRE HOURS

Monday - Thursday 1 pm-8 pm; Friday 1 pm-6 pm; Saturday, Sunday and Holidays 11 am-6 pm

MODEL HOME HOURS

Monday - Thursday 1 pm-7:30 pm; Friday 1 pm-5:30 pm; Saturday, Sunday and Holidays 11 am-5:30 pm

The Walnut Model Home in Summerside West, Orléans

Townhomes

From 224,990 $

Detached Homes

SALES CENTRE 2496 Tenth Line Rd 613-837-5056

From 322,990 $

Proud Partner of the Canadian National Track Cycling Team

30' HOME, THE PRIMROSE II ‘A’ 1,864 SQ.FT. $349,990

36' HOME, THE PARKSIDE ‘A’ 2,669 SQ.FT. $451,990

43' HOME, THE WALNUT ‘A’ 3,218 SQ.FT. $524,990

All illustrations are artist’s concept. All dimensions are approximate. Prices, specifications, terms and conditions subject to change without notice. E.&O.E.

Iconic Homes and Communities METICULOUS SITE SELECTION

CLASSIC, TIMELESS, WITH A TOUCH OF MODERN

UNIQUE, ARCHITECT DESIGNED HOMES

BOUTIQUE APPROACH TO HOMEBUILDING

BEAUTIFUL NEW HOMES IN KANATA

EXCITING NEW FLATS AND BROWNSTONES IN KANATA

ELEGANT NEW HOMES IN STONEBRIDGE

STUNNING ESTATE LOTS IN MANOTICK

ROCKCLIFFE

Wateridge Village is a new community minutes from downtown overlooking the Ottawa River. It celebrates both the legacy of the former Canadian Forces Rockcliffe Lands and the brilliance of modern urban design. Building on its reputation for quality craftsmanship and design excellence, Uniform will offer an inspiring collection of single-family and semi-detached homes, designed by Barry J. Hobin.

SALES PAVILION NOW OPEN

SALES PAVILION HOURS Mon – Thurs: 12 – 7pm Fri – Sun & Holidays: 12 – 5pm Hemlock East off St. Laurent 613.552.1004

uniformdevelopments.com

LAST OPPORTUNITY! Last home available in Loreka Court

Harvard 545 957 $

Now $467 207 * 1,795

sq.ft.

2.5

Luxurious single family home with walk-out basement. Offers granite kitchen countertops and beautiful hardwood on the ground floor, on staircase and in the hallway on second floor.

613.831.0126 171 LOREKA COURT STITTSVILLE

Small town charm, close to the city Singles from the $390’s* Semis from the $290’s* New 1 & 2 bdr. condos now available for rent! 613.257.4079 117 MCGREGOR ST. CARLETON PLACE

*See Sales Representative for details. Prices, specifications, features and offerings are subject to change without notice. E & O.E. Promotions may be changed and/or cancelled at any time without notice.

brigil.com

Award winning homes Claridge Homes was honoured with two awards from the Greater Ottawa Home Buildersâ&#x20AC;&#x2122; Association at the 33rd Annual Housing Design Awards ceremony in October 2016. The Doyle model located at Spring Valley Trails in Navan won for Best Production Homes: Single Detached (2,001 - 2,600 sq. ft.) - $500,001 and over and our Strathcona model at Hunt Club Flats won for best Low Rise unit.

30th Anniversary Celebration In honour of Claridgeâ&#x20AC;&#x2122;s 30th Anniversary, and in addition to the variety of luxurious features already included in the new Diamond Series single family homes, purchasers will receive a BONUS finished rec room in the basement. Plus, design your home your way with up to $10,000* to spend at the Design Centre!

*Prices and specifications are subject to change without notice. E.&O.E. Some conditions may apply. Not available for inventory or move-in ready homes. See sales representative for more details.

Move in ready homes This Fall Claridge Homes is kicking off the new season and the anniversary of our 30th year with our best offers yet. As Ottawaâ&#x20AC;&#x2122;s largest builder of homes and condominiums we have plenty of move in ready homes waiting for you across the city. Ready immediately, or in as little as 4 weeks, we have homes big and small that will fit your unique lifestyle.

HELSINKI II B (Findlay Creek)

THE BREWER (Hunt Club)

Immediate Availability 2650 sq ft Single Home (Lot 148) Over $45K in upgrades Only $519,900

Immediate Availability 940 sq ft 2 Bed Condo Flat (Block C Unit 101) Only $270,900

JACKSON (Barrhaven)

CHESTER 4 BED (Riverside South)

Immediate Availability 3030 sq ft Single Home (Lot 98) Over $30K in upgrades Only $602,900

Immediate Availability 2265 sq ft Single Model Home (Lot 111) Over $70K in upgrades Only $549,900

QUEENSBY IV (Navan)

UNITY (Kanata)

Immediate Availability 1705 sq ft Townhome (Block 36 Unit 189) Over $60K in upgrades Only $324,900

Immediate Availability 1875 sq ft Townhome (Block 10 Unit 53) Over $30K in upgrades, corner unit Only $391,900

ClaridgeHomes.com

contents NOV 26 - DEC 10, 2016 | VOLUME 16 ISSUE 22

PRESIDENT, YELLOW PAGES NEXTHOME

Jacqueline Hill EDITOR-IN-CHIEF / DIRECTOR OF CONTENT

Susan Legge DIRECTOR OF SALES, NATIONAL

Moe Lalani SALES MANAGER, EASTERN ONTARIO

Paul Bimm

C06

trending

C14 Homebuying

Ontario to double LTT rebate for first-time buyers

ON THE COVER

Lamb Development Gotham – something new to hit Ottawa’s skyline

024 Housing Strategy

What should our National Housing Strategy look like?

028 Housing Market

Real estate sector poised for continued growth

EDITOR

Wayne Karl ART DIRECTOR

Tammy Leung CONTRIBUTING EDITORS

Sonia Bell Elisa Krovblit Lydia McNutt

SALES CO-ORDINATOR, EASTERN ONTARIO

Sarah Khan

NATIONAL CIRCULATION MANAGER

John Jenkins

PRODUCTION MANAGER

Helen Pearce PRODUCTION CO-ORDINATOR

031 CHBA

Dennis Ng

Infrastructure spending is key to housing affordability

GRAPHIC DESIGNERS

Miguel Cea Mike Terentiev

032 Housing Market

Federal, provincial policy to slow price growth in 2017

Condo Insert | C01-C16

Spotlight on Condos

Your guide to new condo communities in the Gatineau and Greater Ottawa Area in every issue

014 Editor’s Note 030 Mortgage Rates

036 Investing

Investor DNA: Do you have what it takes?

advice

C10 Tarion Report

Good reasons to share your homebuying experience by Howard Bogach

C12 Home Smarts

034 Hot Properties

In-law suites – buying a home with rental potential

040 Advertisers Index

by Marnie Bennett

042 Neighbourhood Profile

+ online

043 What’s Online NEIGHBOURHOOD

property profile

C06 Brigil

Waterfront views at Domaine du Vieux-Port

026 Lamb Development

Gotham – something new to hit Ottawa’s skyline

HOME SEARCH

MORE +PHOTOS +VIDEOS +ADVICE +INSPIRATION +TRENDING

WITH

DYNAMIC MAPS

LOOK FOR THE CIRCLE

PUBLISHED Saturdays, 2016 Publishing Schedule:

Bi-weekly Jan.-June and Aug.-Nov. Monthly: July & Dec. 1 ADVERTISING Call 416.626.4200 for advertising rates and information. CIRCULATION Free distribution in select hightraffic street boxes, stores, banks, financial institutions and select condominium sales offices. COPYRIGHT 2016 All rights reserved by Yellow Pages Homes Limited. Reproduction in any form is prohibited. Contents of this publication are covered by copyright and offenders will be prosecuted under the law. TERMS Advertisers, editorial content and New Condo Guide are not responsible for typographical errors, mistakes or misprints. All prices are correct as of press time and are subject to change without notice. E. & O. E. EDITORIAL Submissions from interested parties will be considered. Email to susan.legge@ ypnexthome.ca. The views and data expressed by columnists do not necessarily represent those of the publication.

Editors’ Notes

LITTLE ITALY

MORE PHOTOS ONLINE SUSAN LEGGE Editor-in-Chief / Director of Content Yellow Pages NextHome Email: Susan.Legge@ypnexthome.ca Twitter: @SusanLegge

ypnexthome.ca/litte-italy

You’re in the driver’s seat Whether this is your first time buying a new home or your tenth, the process can be hectic, exciting and stressful. Before you do anything, relax and take control of the situation. Understanding the market is just part of the story. Knowing what you need and what you can afford is the more important part of the process. Making a wise purchasing decision that doesn’t keep you up at night when interest rates rise or market news becomes the talk of the town is up to you. Any expert will tell you that buying a home or condo is a long-term

commitment. In this magazine and online at YPNextHome.ca, we offer key advice from the experts, as well as the latest news designed to help you make a wise purchasing decision. Also at YPNextHome.ca, our Neighbourhood Profiles take you on a virtual tour through 2,700 neighbourhoods across Canada. You’ll get all the facts, photos and fun tidbits that you need to help you decide which neighbourhood is right for you. There’s lots to take in, so kick back, relax and enjoy. You’re in the driver’s seat!

You talked. Let’s see if they really listened

WAYNE KARL Senior Editor Yellow Pages NextHome Email: Wayne.Karl@ypnexthome.ca

+ get social 14 YPNEXTHOME.CA

If there’s one thing Canadians are passionate about, it’s their home. If they’re fortunate enough to have one. On National Housing Day on Nov. 22, Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corp. (CMHC), released the much anticipated “What We Heard” from Canadians report. Joining him for the press conference – held via Facebook Live – was CMHC president and CEO Evan Siddall. The product of several months of “Let’s Talk Housing” consultations with housing experts, stakeholders

and everyday Canadians, the report is meant to help shape a National Housing Strategy, which the government is to reveal next year. As for next steps, “The hard work continues. Broad consultations indulge peoples’ expectations, as they should. However, policy makers must balance these against fiscal constraints. Our objective will be to develop a NHS that employs finite government funds to maximum effect, yielding the best outcomes,” the report says. “We will work with our partners on a housing strategy that is national in nature but that recognizes regional housing conditions.”

Interact with us on social media: ypnexthome

DA Y!

N OP OW E

Welcome to Northshore at Greystone Village, a limited collection of Riva Towns and Vista Singles alongside the Rideau River, steps to hiking, biking and water sports and minutes to downtown. Featuring urban two-bedroom plus den Townhomes with contemporary features and two to three bedroom plus den Singles with meticulously finished and wellappointed spaces.

RIVERSIDE SINGLES & TOWNS IN OLD OTTAWA EAST

417

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ve. sA Lee

St. gg Cle

Rideau River

GREYSTONEVILLAGE.CA

ve. te A OblaSITE

St. Main

Rideau Canal

Colonel By Dr.

Queen Elizabeth Dr.

t. aS bell Isa ve. ia A r o t Pre

Renderings are Artistâ&#x20AC;&#x2122;s Concept. E. & O. E.

SALES CENTRE 175A MAIN ST.

Lees Ave. Exit

Metcalfe Exit

MON-FRI 11AM - 6PM SAT & SUN 12PM - 5PM

granite kitchen countertops • upgraded light fixtures • elevator • underground parking • 6 appliances

CALLAHAN ESTATES VISIONARY SERIES

inventory priced from

$294,900! Steps from Longfields Transit Station. Facing South Nepean Park.

luxury condo in barrhaven 1 & 2 bedroom

The Edison 2 1,263 sq. ft.

*Artist’s Rendering of the Edison 2 is shown. See Sales Consultant for details. E. & O.E.

Choice of Bungalows or Two-Storeys

Doctor’s Clinic, Physiotherapist, Pharmacy and Dentist’s Office Last 2 Commercial Units Available — Inquire Today!

The Picasso 2 1,309 sq. ft.

*Artist’s Rendering of the Picasso 2 shown. See Sales Consultant for details. E. & O.E.

CONSTRUCTION ALMOST COMPLETE!

All Inventory Models on walk-out lots!

email: longfields@campanale.com

email: arnprior@campanale.com

visit our NEW sales centre & model home 600 Via Campanale Avenue

visit us at our sales centre & model homes 2 Tom Gavanski, Arnprior

Sales Centre Hours: Mon. – Wed. 11am – 7pm Weekends:12– 5pm (Closed Thursdays & Fridays)

The Rogue

The Greyson

THE ROGUE IS CURRENTLY AHEAD IN THE POLL WITH A LEAD OF 55%. CAST YOUR VOTE TODAY.

two luxury homes remaining. Prince of Wales on The Rideau is the renowned community that put Campanale Homes on the map as one of the most prestigious builders in the Ottawa Region. Known for building high quality

sleek modern designs. Visit campanale.com/pow to vote for your favourite luxury home. To book an appointment to tour these homes, please contact Vince Campanale at 613 859 0963.

homes, Campanale Homes introduces state-of-the-art

Would you prefer to build your own custom home in

design to the Prince of Wales community with The

the Prince of Wales community? Campanale Homes

Rogue and The Greyson. Both homes feature luxuri-

has one lot remaining for custom builds. Contact us

ous upgrades as a standard, spacious layouts, and

today, so we can build you the home of your dreams!

*Located close to the intersection of Baseline and Prince of Wales.

613.859.0963 vince @ campanale.com

Buyers are saving BIG and you can too*!

3 incredible eQ Homes’ communities. 3 home styles to choose from. 30 days to save.

Find your Dream Home at any of these three fabulous communities ROCKLAND

SINGLES – HIGH $300’S TOWNS – HIGH $200’S CONDOS – HIGH $200’S 235 L’etang Street, Clarence-Rockland

613.862.0167

KEMPTVILLE

SINGLES – LOW $400’S TOWNS – MID $300’S 88 Equinelle Drive, Kemptville, Off County Road 44

613.258.6488

STITTSVILLE

SINGLES – MID $400’S TOWNS – HIGH $300’S CONDOS – HIGH $200’S 339 Bobolink Ridge (off Fernbank Rd.)

613.404.8075

THREE FULLY FURNISHED, DESIGNER DECORATED MODEL SUITES

GOHBA AWARDED

2016

The

COMMUNITY OF THE YEAR

THREE FULLY FURNISHED, DESIGNER DECORATED MODEL SUITES

Learn more at

*Promotion extended until December 23rd, 2016. See sales representative for details. Not to be combined with any other offer. Prices and specifications are subject to change without notice. E. & O. E.

eqhomes.ca

W in your

MORTGAGE MORTGAGE PAYMENTS PAYMENTS R A ! E R A Y ! E F Y A FO R OR A CONTEST CONTEST

th P urchase before D ecember 12 Purchase before December 12th

AND AND YOU YOU COULD COULD WIN WIN YOUR YOUR MORTGAGE MORTGAGE PAYMENTS PAYMENTS FOR FOR A A YEAR YEAR

We have move-in ready homes and brand new designs across Ottawa and Embrun. We have move-in ready homes and brand new designs across Ottawa and Embrun. Chance to win your 2017 mortgage payments if you purchase now! Chance to win your 2017 mortgage payments if you purchase now!

Visit Visit valecraft.com valecraft.com Limited time offer. See sales consultant for details. Prices, terms and speciﬁcations are subject to change without notice. E & O.E. Limited time offer. See sales consultant for details. Prices, terms and speciﬁcations are subject to change without notice. E & O.E.

NOV 26 - DEC 10, 2016 VOLUME 16, ISSUE 22, FREE

EASTERN ONTARIO EDITION

YOUR PULL-OUT GUIDE to highrise, conversion, loft, terrace & townhome condo projects

GET UP TO

$10,000* GIFT-CARDS ON AN ARTHAUS CONDOMINIUM PURCHASE** FROM NOVEMBER 10TH TO DECEMBER 31ST, 2016

spotlight on condos

ONE OF A KIND PIECES, INSPIRING AMBIANCES AND WORLD TREASURES FOR THE HOME

ITâ&#x20AC;&#x2122;S IN OUR NATURE

SALES GALLERY 264 RIDEAU STREET MONDAY TO THURSDAY: 12:00 PM TO 6:00 PM WEEKENDS AND HOLIDAYS: 12:00 PM TO 5:00 PM (CLOSED ON FRIDAYS)

*Get a $5,000 Artemano gift-card on a studio or a one-bedroom unit, and a $10,000 Artemano gift-card on a one-bedroom + DEN suite or larger with your purchase at Arthaus condominiums. Penthouse (23rd floor) NOT included in this promotion. Valid for new purchases between November 10th and December 31st, 2016. **Eligible Purchasers must successfully complete 10-day rescission period, have initial 10% deposit clear trust account, provide mortgage approval and ALL post-dated cheques required. Payable 30 days prior to Occupancy and after all above-noted items have been satisfied. Promotion is subject to change without notice and is offered while supplies last. Incentive is not available in conjunction with any other promotions or incentives and may not be combined with any other special offers and are not transferable. See Sales Representative for details. TradeUp Real Estate Inc., Brokerage. Brokers Protected. E. & O.E. November 10th, 2016.

Revision Final Bleed

Insertion date

Material Deadline

Studio

Anything but mainstream

613 806 6246 | CornersOnMain.ca

Ad Number

Sales Centre, 223 Main St. at Hazel, Mon – Thurs 12 – 6pm, Sat – Sun 12 – 5pm

spotlight on condos

Final Trim

Final Live

There is much to love about the revitalization of Main Street in Old Ottawa East. But when choosing a new home, only Domicile can give you a condo with just as much character as the street itself. Discover a new way of life, and a new way of living, at the Corners on Main presentation centre. Phase 2 is now selling, but won’t be for long.

E IN MOV YEAR THIS

spotlight on condos

DOWNTOWN LIVING RICHCRAFT STYLING

condos + lofts IT’S ON ITS WAY. The Bowery Condos by Richcraft. Located at 255 Bay — just steps from the Lyon Street LRT station. European appliances, quartz counter tops, hardwood a place to gather, lounge, eat, swim and workout. Presentation Gallery: 136 Bank street. MODERN STUDIO, 1+2 BDRM + 2 STORY LOFTS FROM $194,000

THEBOWERYCONDOS.CA • 613.695.7577

LIVE BY THE RIVER TODAY

Own in Orléans premier waterfront community • Only 15 minutes from downtown • Situated in a private enclave surrounded by parks, nature trails and recreational features at Petries Island

Move in today and save thousands! Two model suites now open Tower II *

Up to $15,000 in premium upgrades included! *

Condos 181,800

from $

Including: pool, spa, gym & rooftop terrace

SALES OFFICE • 613.824.4059 8700 JEANNE D’ARC BLVD. N ORLÉANS, OTTAWA

@petrieslanding

*See Sales Representative for details. Prices, specifications, features and offerings are subject to change without notice. E & O.E.

brigil.com

spotlight on condos

2 bdr. condos from $ 287,800

Property Profile | BRIGIL

condo cover story

Domaine du Vieux-Port Enjoy the waterfront views Location

Gatineau

spotlight on condos

Builder

Brigil Development

Domaine du Vieux-Port Home Type

Single-family, condos Sales Centre

1400 boul. St-Joseph Nord, Gatineau, open Monday to Thursday 2 to 8 p.m., Friday to Sunday 11 a.m. to 5 p.m. Contact

819.777.4663

BRIGILâ&#x20AC;&#x2122;S DOMAINE DU VIEUX-PORT

is one of the most prestigious and coveted communities in the OttawaGatineau region. Exclusive and luxurious, this community, nestled in a natural forest setting, includes a private marina and a waterfront spa. Your new home at Domaine du Vieux-Port includes access to a beach where you and your children fish and swim. You can also kayak and canoe down the river and enjoy the city from a whole new perspective. On the Gatineau River and just minutes from downtown Ottawa by car or boat, this remarkable residential community features high end modern style single-family homes and condominiums all with magnificent

panoramic views and sunsets. Responsible planning and conservation of at least 70 per cent of the surrounding nature allows you the opportunity to stroll in a wild setting right in your backyard. This natural environment adds to the unparalleled lifestyle and tranquility of Brigilâ&#x20AC;&#x2122;s Domaine du Vieux-Port. Located at the northern end of Boulevard St-Joseph, you can quickly access the community by Hwy. 5 or directly by the Gatineau River. Only minutes away from the magnificent Gatineau Park where you can bike, hike or cross country ski while taking in the breathtaking views. Short steps away from your home, you can lift the anchor and sail up to parliament hill or to the port of your choice. You will

be in the heart of the action, while still being able to relax in your private waterfront home. Tower 1 of these luxurious condos is already 90 per cent sold, and construction is set to start summer 2017. The 21-floor condo tower offers spectacular views of the city, the Gatineau Park and the river. With 202 suites per tower and a variety of units, buyers will have the option to choose from a one-bedroom, one-bedroom plus den, two-bedroom and threebedroom units. All units have very large balconies and spectacular views of the river. The Grand Hotel inspired condo tower offers many thousands of square footage of common and

commercial areas. On the main floor, you will have a reception with 24/7 security, the Nordic style spa with exterior hot and cold baths and all spa related services as well as a restaurant, a gym, a physio and medical clinics. Head up to the urban lounge on the top floor and enjoy the views. Take advantage of the swimming pool, the spa, a full kitchen, dining room living room and a relaxation area on the terrace with a large gas fireplace. For your convenience, there are also elevators, indoor parking and lockers for storage. With more than 8,500 homes built in the National Capital, and more than 30 years of experience building dreams, owner Gilles Desjardins is

proud of his company’s commitment to the environment. Brigil ensures a superior quality finish in all its homes, which means you are not only buying a magnificently built home, you are also contributing to the future of the environment. Desjardins sees the integration of the environment into Brigil’s developments as “bettering the quality of life.” Building a better quality of life isn’t only a motto, it’s a commitment to providing each buyer with a home that surpasses expectations. To experience the quality and style of a Brigil home firsthand, please visit their website at brigil.com or stop in at the sales centre.

NOV 26 - 10 DEC, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO C7

Buy at CLARIDGE FUSION and save $50,000 on your purchase price* Your Own Urban Oasis At Claridge Fusion, all of lifeâ&#x20AC;&#x2122;s pleasures come together in one eco-friendly living environment. Fusion is LEEDÂŽ Silver certified, and incorporates our most comprehensive array of green initiatives yet. Buy a 2 bedroom unit now and close in 2016 to receive a limited time offer of $50,000 off your purchase price, plus a free parking spot! Visit our sales centre today for more details.

spotlight on condos

300 Lett Street 613.232.2049

www.claridgefusion.com

* Excludes boutique townhomes, parking spot included with purchase. Must close before December 31, 2016 to receive offer. Prices and specifications are subject to change without notice. E.&O.E.

moreValue

Move-in ready units. Up to $10,000 in designer finishes included! STIRLING PARK | MERIVALE Now occupying! 1 & 2 bedroom units starting from $272,000 330 Titan Private, Unit 107, Ottawa 613-224-0330 WATERSTREET | LOWERTOWN Now occupying! Studio, 1 & 2 bedroom units starting from $195,000 316 Bruyère Street, Unit 112, Ottawa 613-680-6560 CLARIDGE PLAZA 3 | RIDEAU STREET Models now open! Move-in ready 1 & 2 bedroom units starting from $339,000 244 Rideau Street, Ottawa 613-241-3235 File is half size FINAL: 48” x 48”

CLARIDGE PLAZA 4 | RIDEAU STREET Now occupying! Studio, 1 & 2 bedroom units starting from $232,000 244 Rideau Street, Ottawa 613-241-3235

FUSION | LEBRETON FLATS Models now open! Move-in ready 1, 2 & 3 bedroom units starting from $278,000 300 Lett Street, Ottawa 613-232-2049 TRIBECA EAST | DOWNTOWN METCALFE Now occupying! Studio, 1 & 2 bedroom units starting from $248,000 56 Nepean Street, Ottawa 613-234-1780

moreChoice

CLARIDGE ICON | LITTLE ITALY Now under construction! 1 & 2 bedroom units starting from $291,000 485 Preston Street, Ottawa 613-695-1441

THE LOFTS AT TRIBECA | DOWNTOWN METCALFE Now under construction! 1 & 2 bedroom units starting from the mid $400s Includes underground parking 56 Nepean Street, Ottawa 613-234-1780

ClaridgeHomes.com

spotlight on condos

Now under construction. Secure your new home and ask about our upgraded finishes at these locations.

Advice | TARION REPORT

Three good reasons to share your new-buying experience By Howard Bogach

MORE ADVICE ONLINE ypnexthome.ca/news/advice

HAVE YOU RECENTLY MOVED into a

new home or condominium? Now is your chance to tell us about your buying experience and to rate your new home builder. Every fall, Tarion sends out a survey to new-home owners across the province, asking for opinions about their buying experience. The survey includes questions about the signing of the Agreement of Purchase and Sale, the Pre-Delivery Inspection, and the level of customer service the builder provided after the sale closed. We also ask about their relationship with Tarion and whether we met their expectations. This year, we will send out more than 52,000 surveys to consumers who moved into a new home or condo between Oct. 1, 2015 and Sept. 30, 2016. We offer the survey in various languages such as French, Mandarin, Farsi and Punjabi as part of our commitment to be accessible to Ontarians. Why do we survey new-home owners every year? There are three very good reasons. First, it gives us the opportunity to hear first-hand about the consumer’s experience with Tarion. The responses and comments help us understand what we do well and where can improve our processes or communication to deliver better customer service to new-home buyers. This has tangible results: consumer input over the years has helped us identify general trends and areas we can focus on to improve our service. For example, consumer feedback has led C10 YPNEXTHOME.CA

directly to new features being added to MyHome, our digital web service that helps homeowners manage their warranty online. Second, we want to hear about new home owners’ experience with their builders. Did the builder and the new home meet expectations? Did the newhome buying experience go smoothly? Were there any issues with the home after move in, and if so, did the builder listen to concerns and work to repair warranted issues? The information we gain from the survey answers is very useful to builders, as it gives them insights into how to make improvements to their own customer service. Where we receive enough responses, builders are given detailed individual reports comparing their results to the provincial average (without identifying the participants). We then follow-up with these builders to help analyze their scores and how to improve on them. Feedback from the survey is important for a third reason: it determines which builders are the finalists and recipients of the Homeowners’ Choice Awards, as

chosen by their customers. These awards, presented by Tarion, give Ontario’s new-home buyers a direct voice in having their new-home builder recognized for customer service excellence. When a builder becomes a finalist or a recipient of the award, that information is put on their record in the Ontario Builder Directory (on tarion.com) for everyone to see. In this way, the awards offer future new-home buyers important information when they are doing their research to find a builder. These are all good reasons why your opinions matter! So, if you have taken possession of a new home or condo in the past year, please look out for the Tarion survey. It only takes a few minutes to complete, and your responses will help improve customer service for newhome owners across Ontario. Howard Bogach is President and CEO of Tarion Warranty Corp. His column appears monthly in New Home Guide. For more information about how Tarion helps new-home buyers, visit tarion.com or find us on Facebook at facebook.com/TarionWarrantyCorp.

Live and Play ON THE

SOUTH COAST OF CANADA TALL SHIPS LANDING IS LOCATED IN BROCKVILLE, CITY OF THE WORLD FAMOUS 1000 ISLANDS. TALL SHIPS COTTAGE-INIUMS™ COMBINE CAREFREE CONDO LIVING IN AN EXTRAORDINARY COASTAL RESORT, AFFORDING YOU MORE TIME FOR MAKING MEMORIES WITH FAMILY AND FRIENDS.

NEW

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Advice | HOME SMARTS

In-law suites Purchasing a new home with rental potential By Marnie Bennett

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I’VE ALWAYS FOUND the rise and fall of

housing trends incredibly interesting. Of course, staying on top of these patterns is also a vital aspect of my career. One surging trend in the Ottawa housing market is the in-law suite – and I believe this one has real staying power. “In-law suite” is the name most commonly given to self-contained apartments within a larger home, whether or not the occupants happen to be in-laws. Family custom is, however, one of the main reasons for the growing popularity of these secondary suites. While there have always been Ottawans who value multi-generational living, their number is steadily increasing as Ottawa continues to receive the most family-related immigration in Canada. For many of our newcomers, living in proximity to grandparents or extended family is the cultural norm. The other significant group interested in secondary suites are those who have realized the terrific income potential of such spaces. With its many contract workers and post-secondary students, Ottawa has no shortage of renters. While zoning by-laws make secondary suites a no-no in some jurisdictions, the City of Ottawa (excepting the former Village of Rockcliffe Park) has no such restrictions, as long as by-law conditions are followed. More often than not, in-law suites are basement apartments, although they’re occasionally located on the second or third floors. They possess private entrances, bathrooms, kitchens and sometimes laundry facilities. C12 YPNEXTHOME.CA

Renovating an existing home to accommodate a separate suite can be expensive, and unforeseen complications may arise. The beautiful thing about including a secondary suite when purchasing a new home is that you can have everything built to your specifications, rather than being limited by the existing structure. Some builders make a specialty of in-law suite homes, with a portfolio of available plans, but others are happy to alter standard plans for a fee.

» Features such as a double driveway, soundproofing panels and separate gas and electrical meters can make everyone’s lives easier.

A few things to consider: » Basement apartments aren’t noted for their great natural light. Invest in great lighting, making good use of pot lights. Where possible, install larger-than-typical windows. » Include a bathtub in the bathroom to appeal to as many tenants as possible.

Marnie Bennett is a broker and team leader for Bennett Property Shop Realty, a full premium service real estate brokerage specializing in marketing and selling new and resale homes, condominiums and investment real estate. Marnie is the host of two weekly radio shows Marnie’s Real Estate Hour and The Real Estate Edge, a millionaire real estate investor and a wealth management coach. bennettpros.com

With a thoughtfully designed suite, the income – or the in-laws – will be sure to roll in! To receive a free copy of a new special report titled “Homebuyers: How to Save Thousands of Dollars When You Buy” email sales@ bennettpros.com

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Province of Ontario doubling LTT rebate for first-time homebuyers By Lydia McNutt

THE PROVINCE OF ONTARIO is giving

first-time homebuyers a bit of a break by doubling the maximum refund of Land Transfer Tax (LTT) from $2,000 to $4,000 starting in the new year. Finance Minister Charles Sousa made the announcement in his 2016 Ontario Economic Outlook and Fiscal Review, presented in the provincial legislature, stating that home ownership has become the key to many people’s long-term financial security. Currently, eligible first-time homebuyers pay no LTT on the first $227,500 of their purchase. Effective Jan. 1, 2017, the untaxed portion of the price will increase by $140,500 to $368,000, making it easier for first-time buyers to get into Ontario’s hot housing market. First-time buyers who pay over $368,000 would get a maximum refund of $4,000. The Ontario Ministry of Finance estimates that, with this new C14 YPNEXTHOME.CA

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rebate, more than half of first-time homebuyers would pay no provincial LTT. For example, a qualifying purchaser of a $350,000 home currently pays $1,725 in LTT (including the current maximum refund). With the enhanced refund, the LTT payable is zero. The Province points out that first-time buyers of more expensive homes would also benefit from the increased rebate. For example, a qualifying purchaser of a $600,000 home currently pays $6,475 in LTT (including the current maximum refund). As of Jan. 1, this would decline to $4,475 – a savings of $2,000. “Finding an affordable home has become a struggle for thousands of young couples,” says Ray Ferris, president of the Ontario Real Estate Association, in a press release. “This tax break will reduce a first-time buyer’s closing costs and help them save more for their down payment.” The current tax rates have not changed since 1989. The tax rebate will only apply to first-time homebuyers who are Canadian citizens and permanent residents. Upon obtaining Canadian citizenship or permanent resident status, first-time buyers would be able to apply for the refund within an 18-month period. At the same time, the tax rate on homes priced over $2 million is being increased from two to 2.5 per cent.

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FINDLAY

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What will our National Housing Strategy look like? By Wayne Karl

WHAT SHOULD OUR NATIONAL

Housing Strategy look like? The federal government tabled its report on Nov. 22, following months of consultations with the provinces and territories, industry experts and everyday Canadians, setting the foundation for a multi-lateral framework to be developed in 2017. The issues are varied and complex, involving differing provincial and regional economies, housing markets and conditions, from affordable housing to rental markets to homeownership. We went to a few expert sources of our own – some of whom were directly involved in the government consultations – to get some insight into what to expect as the Strategy is developed next year. JASON BURGGRAAF Government Relations and Policy Advisor Canadian Home Builders’ Association Ottawa The biggest challenge in devising the National Housing Strategy is not that 24 YPNEXTHOME.CA

housing markets are independent. We believe the government appreciates that fact. But a true National Housing Strategy must address all aspects of the spectrum. It must address affordable (social) housing requirements and marketbased housing. More than 94 per cent of Canadian households currently live in privatelyowned homes of different tenures (including rental). A complete and comprehensive National Housing Strategy must address the full housing continuum, from social housing to market homeownership and everything in between. It should focus on creating a housing system where people can move up the housing continuum towards increased independence and self-sufficiency. It is important that governments not give the impression that supporting social housing will solve the affordability problem. Providing more options and solutions for those in housing need is essential, but this will in no way resolve affordability. Addressing market-

based affordability is essential, and doing so will also reduce demand on the social housing system. MELANIE REUTER Real Estate Consultant Fraser Valley, BC Canada’s diversity of housing markets – in prices, vacancies, rents and rules – means a “one size fits all” program would be difficult at best, impossible at worst. One strategy that warrants further consideration involves foreign investors and keeping housing in the private/business sector, instead of institutionalizing it. Instead of stipulations imposed on those seeking to come to Canada on an Investor Class Visa, the federal government could allow purchases of multi-family residential properties, stipulating that they must provide a defined level of affordable housing for a set number of years. That is, all units must rent at the mandated price per square footage for 10 years. No alternative use is allowed and a minimum standard of building/suite condition

is expected. Property management must be carried out by a local licensed professional or company. This allows investors to safely park their money in the Canadian real estate market, and give the government the power to dictate into which markets the investments shall land (at the moment, the unaffordable markets of Vancouver and Toronto). These markets are the ones speculators are frothing over, with the greatest risk of “correction” and the biggest rewards for taking those risks. This strategy also keeps the government out of the real estate business. Should Ottawa decide to impose regulations such as rent control or other such tactics devised to “cool” a heated market, it runs a large risk of messing with the supply of rental stock. Investing in real estate is a business – no one does it to lose money. If the investment lacks profit or the ability to invest is too cumbersome or difficult, investors will cease to buy inventory, and invest their capital elsewhere. This will greatly affect the number of places available to rent, demand will increase and rents and prices will climb even higher. MITCHELL COHEN President The Daniels Corporation Toronto The biggest challenge has always been establishing that housing is both physical and social infrastructure, and that a safe and secure home for all Canadians should be a priority over investments in purely physical infrastructure. A national strategy rests on the premise that every individual will only be able to contribute to a vibrant economy and a strong Canada if every Canadian has the platform of a stable and affordable place to call home. A National Housing Strategy

addresses housing challenges at all ends of income spectrum. First and foremost, however, is to ensure adequate funding to create transitional housing for the 235,000 Canadians who experience homelessness each year. It is also imperative to understand that bricks and mortar alone won’t be enough, and wraparound social services will be required to positive outcomes over the long term. ANDREW C. MACDONALD Mortgage Broker Calum Ross Mortgage Toronto The National Housing Strategy needs to keep two key points in mind: affordability and sustainability. There is no “one size fits all” solution for a country with the size and diversity of Canada. We don’t have one housing market; we have thousands, each with their own dynamics. Affordability is relative to household income. Larger cities such as Toronto and Vancouver have much higher housing prices than smaller markets, but these cities are also home to many of Canada’s highest paying jobs. Vancouver affordability is at an all-time low. Toronto has affordability metrics below the long-term average, but has seen much worse affordability in a historical context. In Calgary and Edmonton, affordability is better than the long-term average. This all illustrates that we don’t have a single national housing market. Sustainability is also a key consideration. While changes may seem prudent to prevent a valuation bubble, policies need to be broad enough to apply across all markets and prove rational in a variety of circumstances and points in the economic cycle. We can’t consider only today’s market conditions, and we certainly can’t make changes without considering both the intended and unintended

consequences. The housing sector is deeply interconnected with the overall Canadian economy, so changes must be made with caution. Slowing growth or a downturn in housing prices could have dire consequences for the overall economy. CHRIS J. POTTER Partner, National Leader, Real Estate Tax Practice PwC Canada Toronto We have to remember there isn’t one housing market in Canada – it is a large collection of individual markets, and there are lots of competing issues at play. Taking Vancouver and Toronto out of the mix, we don’t really have an affordability issue. With policy, you’re going to have a broader impact. We have to look at unintended consequences. The recent mortgage changes, for example, have had adverse impacts where affordability isn’t an issue. We have to be careful that we understand what we are talking about – we don’t have one homogenous market. There is also a need for better information – making sure that all three levels of government are working together to understand the true impact policies have on market forces. All three levels of government must also work with industry in any given market to come up with a plan that’s going to work. Real estate has a huge impact on the economy and jobs, and we need to make sure we have a large part of the economy sustainable and working. First-time buyers were hit hardest by the recent changes, and we’re now making it harder for first-time buyers – forcing them into rentals, in cities where there are low vacancies and high rents. Where are they to go?

NOV 26 - DEC 10, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 25

Property Profile | LAMB DEVELOPMENT CORP.

cover story

Something new to hit Ottawa’s skyline GOTHAM, STANDING AT 17 FLOORS

high, is one of Ottawa’s newest condo developments. Construction finished April 2015 and there are now immediate occupancy suites available. With only 24 units remaining, Gotham is expected to sell out soon. Lamb Development Corp. has been a top name in condo development in Toronto for more than a decade. Now, Brad J. Lamb, CEO of Lamb Development, has expanded his stylish line of condos to Ottawa’s downtown core with the completion of Gotham. This chic, statuesque residence is located at 224 Lyon St., in the heart of centre town. In designing this project, Lamb says he wanted to bring a little bit of New York City to Ottawa, hence the dark and brooding name: Gotham. “Gotham is one of the most innovative pieces of modern residential architecture that the city has seen in over 20 years,” explains Lamb. “Not only is the exterior a piece of modern art, the interiors are second-to-none.” Gotham lives 26 YPNEXTHOME.CA

up to its iconic name by combining large sheets of glass, steel, exposed concrete and bold charcoal brick. Gotham has a striking monolithic architectural form, envisioned to offer a multitude of living options from two-storey lofthouses, single-level lofts, glasshouses and penthouses. These suites come with spacious balconies, and some with large terraces ideal for hosting your next summer party. With the north side of the building facing Parliament, you’re sure to get some of the best views the city’s skyline has to offer. Whatever floorplan you choose, you will be immediately impressed with the level of care invested in these stylish units. Expansive floor to ceiling windows, pre-finished engineered wood floors, porcelain floor tile in the bathroom, European style kitchen cabinetry, and stone surface counter tops are only a few of the luxurious finishes that come standard in these new condos. Each condo also comes with a stacked washer and dryer, a stainless steel fridge, a slide-in gas

stove, dishwasher, microwave and gas barbecue connection on balconies and terraces. Gotham offers some of the best standard in finishes in the city: nine-ft. tall ceilings, natural gas inside and outside and large outdoor living spaces. “Upgraded finishes are standard in our building because I want to offer our buyers the best,” says Lamb. Lamb has been involved in more than 175 condo projects, and says he has come to pride himself in recognizing and understanding what condo owners need and want in their homes. “People are living in small spaces, and I want to give them the most dignified life they can have in a condominium. This is something that’s very important to Lamb Development Corp.” Gotham is ideally located in Ottawa’s downtown core, only steps from Elgin St and Bank St. Satiate your palate at the many top quality restaurants and bistros along these two popular street destinations.

Location

Ottawa Builder

Lamb Development Corp. Development

Gotham Home Type

Condominium Sales Centre

224 Lyon St., open Monday to Wednesday 11 a.m. to 5 p.m., Saturday and Sunday noon to 5 p.m., Thursday and Friday by appointment only Contact

613.257.8887 info@LambDevCorp.com Elgin Street is always thriving with a busy night life, and Bank Street has many unique shops, coffee houses, and bakeries, which draw in tourists and locals alike. Only blocks from the Parliament Buildings, the Rideau Canal, and the new LRT station, Gotham is at the centre of it all. Lamb Development was founded in 2001 by one of Toronto’s top condominium brokers, Brad J. Lamb, to directly participate in

the development of stylish, urban condominium projects. At that time, with more than 13 years of experience in consulting, marketing and the selling of more than 100 of Toronto’s most innovative and exciting projects, Lamb wanted to bring something different to the development world. Since then, he has done just that; developing more than 12 completed projects (2,000 units), along with five projects under construction (1,400

units) and 12 more in the design stages. Lamb Development has become one of the country’s busiest development companies, with each project pioneering up-and-coming locations and delivering a stylish, urban solution to each property. Wondering what it may be like to imagine yourself living in a Gotham suite? For information on Gotham, please contact the sales office or visit the website at gothamottawa.com

NOV 26 - DEC 10, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 27

Trending

Canada’s real estate sector poised for continued growth Opportunities abound amid signs of stability

DESPITE PERENNIAL SPECULATION

of a housing market crash, there is room for growth in the Canadian real estate market as investors are moving east and towards more mixed-use developments, according to Emerging Trends in Real Estate 2017, jointly released by PwC Canada and the Urban Land Institute (ULI). Canada seems poised for a year of stability, regardless of concerns about a possible pullback in the Vancouver and Toronto housing markets. According the report, housing affordability, weak income growth and high consumer debt levels are all contributing to the dip in residential sales in Canada. Compared to previous year, the average price 28 YPNEXTHOME.CA

for housing is expected to decline by -0.9 per cent in 2017 compared to a significant spike of 10.6 per cent in 2016. While Toronto and Vancouver will be hit the hardest by this downward trend in housing price, other markets in the east, including Halifax, Ottawa and Quebec City, are forecast to grow slightly. “Opportunities in the Canadian market continue to be abundant, but no two markets are the same,” says Frank Magliocco, Partner & National Real Estate Practice Leader, PwC Canada. “The unique economic and demographic realities in each region are yielding different options for savvy real estate investors across the country who have their eye on emerging needs

and trends in the market.” The report highlights six important areas to watch for: 1. Building communities: Canada’s urban populations will continue to grow and their needs are evolving. Mixed-use projects combining residential, retail and commercial parts continue to thrive and there’s a growing consensus that developers must do better when designing public spaces. 2. Affordability on the decline: Housing affordability has become a major point of concern in Canada. In Toronto and Vancouver, mortgageto-income ratios forecast to remain

well above the Canadian average. Significant increases in immigration over the next five years will continue to keep demand high and put even more pressure on affordability unless more supply is made available, not just in Toronto and Vancouver but also across the rest of the country. 3. Renting for the long-term: Attitudes toward renting are shifting and people are choosing to rent longer as they weigh the costs of homeownership against the benefits. It’s a trend that’s sparking ongoing interest in purpose-built rentals and raising questions about the size of units and the need for supporting infrastructure such as schools, medical facilities and day care. 4. Technology disruptors: Real estate firms must take significant steps to adapt to customers’ growing tech needs or risk falling behind, and this trend is evident in multiple sectors, including office, retail and residential. Buyers and renters alike are increasingly expecting more energyefficient properties and amenities, new systems in waste management and energy conservation. Customers now have access to more data online than ever before, and development firms are harnessing the power of 3D conceptualization to create virtual tours, reducing the reliance on showrooms. 5. Global uncertainties: While the domestic front has been stable, developers, investors and property owners alike express concern over global political and economic uncertainties. Most believe that these uncertainties, along with the low Canadian dollar, will continue feeding demand for Canadian real estate; for now, Canada is seen to be a steady, low-risk place for investors to put their money. 6. Oil and gas prices and waiting on deals: Slumping oil and gas prices continue to weigh on the economy, and they’re hitting Alberta hard.

Oversupply of office space has not stopped some projects from being completed, but the Calgary market has hit the pause button. The impact on Edmonton’s real estate market has been softened thanks to the city’s more diversified economy and significant investments in redeveloping its downtown core. TOP 5 MARKETS TO WATCH 1. Vancouver: This year’s report names Vancouver as the top investment, development and housing market in Canada. Millennials are driving up Vancouver’s rental market, searching for new, higherquality units near amenities and close to transit. Rental units are in incredibly short supply, with vacancy rates consistently around or below one per cent for the past five years. Another emerging challenge is the lack of amenities from stores to schools in the downtown core. 2. Toronto: The lack of development supply for all residential types is seen as a key factor contributing to the market’s rapidly rising house prices. Due to the high cost of moving, more homeowners are choosing to stay put and invest in renovations. Many respondents believe that government land use policies are a factor holding back supply. Toronto’s condominium inventory has hit a 10-year low and demand remains strong, so respondents expect to see more highrise multi-residential projects enter the pipeline in the years ahead. 3. Ottawa: The residential market is seeing little movement. Demand for new homes is down sharply since there aren’t enough families interested in buying single-family homes. Ottawa housing starts have fallen for three straight years, and some developers are currently shelving their development plans for up to five years. 4. Winnipeg: Winnipeg’s economy is expected to see sustained grow this year and beyond. Building

activity should remain healthy over the short term, propelled mainly by nonresidential projects which will help to offset a slowdown in the residential market. 5. Montreal: Montreal continues to absorb the city’s condo stock and “pure” condominium plays have given way to mixed-use developments. More of these are on the horizon, especially around transit hubs, and the trend is increasing cooperation between investors and developers. “The Quebec market continues to be quite varied by region but what remains consistent is strong economic growth in Montreal and Quebec City – two of the provinces most active markets,” says Annie Labbé, chartered appraiser, senior vice-president, Real Estate Advisory Services at PwC Canada, PwC Canada. “With economic growth comes opportunities and both cities provide non-residential investment options including an increase in mixed use developments in response to changing demographic needs.” “While Calgary continues to redefine its market, Vancouver continues to be a positive outlier in the West and outpace the country in terms of growth,” says John Bunting, partner and BC real estate leader, PwC Canada. “Higher density developments will drive the residential market in most areas of the market while the demand for rental units will see growth due to a high demand from an ever-growing number people priced out of homeownership. Record low rental vacancy rates are expected to continue until significantly more affordable supply comes online”. Now in its 38th year, Emerging Trends in Real Estate is a highly regarded annual industry outlook for the real estate industry. It includes interviews and survey responses from more than 1,500 leading real estate experts, including investors, fund managers, developers, property companies, lenders, brokers, advisers and consultants.

NOV 26 - DEC 10, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 29

Homebuyers’ Help

Compare mortgage rates for your best deal CHARTERED BANKS

variable

ATB Financial

2.5

Alterna Bank

2.45

Bank of Montreal

2.6

Bank of Nova Scotia

2.9

Canadian Western Bank CIBC

6 months

1 year

2 years

3 years

4 years

5 years

4.1 4.10op 4 6.30op

3.04 4.10op 2.79 6.30op 3.09 6.95op 3.29 6.50op 3.14 6.30op 2.84 6.35op 3.14 3.14 6.35op 2.94 3 3.20op 3.14 6.70op

2.39 4.10op 2.74

2.59

2.69

2.79

2.59

2.74

2.59

3.19

3.59

4.09

2.59

3.09

3.39

3.89

4.49

3.04

3.65

4.2

4.74

2.79

2.49

4.09

4.79

3.04 2.45

3.65 3.39

4.39 4.09

4.64 2.65

2.94 2.94

2.94 2.84

2.99 2.79

2.99 2.89

3.04

3.39

2.79

2.94

2.79 2.59

3.34 2.69

3.99 2.79

4.44 2.94

2.84

3.44

2.44

2.69

3.24

3.49

3.69

3.79

6.95op 4.55 6.45op 4 6.45op

2.7 6.95op

Equitable Bank HSBC Bank Canada

2.65

ICICI Bank Canada Manulife Bank

2.75 2.6

National Bank

n/a

President’s Choice Finan Royal Bank

2.7 2.7

TD Canada Trust

2.6

Tangerine

2.7

4.45 6.20op 4.45 4.4 6.70op

7.00op

2.99 7.00op 3.04 4.00op 3.19

TRUST COMPANIES Community Trust Effort Trust

n/a n/a

Home Trust Investors Group Trust

2.35 n/a

MTCC

2.9

6.5 4.45 6.30op 3.95 4.2 6.50op 4.55 6.45op

3.14 3.35 6.30op 2.69 3.14 6.30op 3.29 6.50op

3.25 3.5

3.95 3.7

4.39 4.3

4.64 4.35

2.14 3.09

2.34 3.39

2.59 3.89

2.59 2.45

3.09

3.39

3.89

4.49

4 6.30op 6.2 6.40op 3.1 4.25 6.50op 4.2 6.50op

2.79 6.30op 2.84 6.30op 2.29 2.89 6.50op 3.14 6.30op 3.25 6.25op 2.84 6.30op 2.99 6.30op 2.8 2.95op 2.39

2.74

2.59

2.74

2.59

2.89

2.95

2.99

2.89

2.24 2.79

2.39 2.89

2.49 2.95

2.69 2.89

3.09

3.39

3.89

4.64

3.2

3.65

4.5

2.79

2.64

3.89

2.44

2.69

3.49

3.99

4.54

2.85

2.95

3.05

3.15

2.39

2.49

OTHER FINANCIAL INSTITUTIONS Alterna Savings

2.45

Comtech Fire C.U.

2.45

First National Fin. LP IC Savings

2.7

London Life

n/a

Luminus Financial

3.25

Meridian Credit Union

2.4

PACE Savings & C.U.

4 5 6.70op

Parama Credit Union

2.65

Steinbach Credit Union

2.25

ONLINE CALCULATOR ypnexthome.ca/mortgage-calculator Notes: **Interest rate charged subject to adjustment during term mortgage. Please consult institution for term of years available. All rates are prime rates and subject to change without notice. R.O.R. RATES ON REQUEST op OPEN ----- NOT QUOTING N/A NOT AVAILABLE Nov 21, 2016. Prepared By Fiscal Agents Financial Information Services 905.844.7700

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Infrastructure investment can support housing affordability and supply, home builders say THE CANADIAN HOME BUILDERS’

Association (CHBA) welcomes the recent announcement of additional funds in the federal government’s infrastructure and public transit investment strategy, including the establishment of a Canada Infrastructure Bank, which if delivered with the right lens can help support housing affordability and supply. Details of these initiatives were announced recently as part of the Finance Minister’s Economic Update. “The government’s investment, if focused on core infrastructure and transit-oriented development, can support much needed housing affordability,” says CHBA CEO Kevin Lee. “The federal government’s longterm investment in infrastructure should be aligned with local and provincial regional development plans with an aim to advance the shared goal of increasing housing supply and affordability, particularly through approaches like transitoriented development. CHBA looks forward to seeing further details of this key link between affordability and infrastructure investment in the National Housing Strategy.” Federal funding for core infrastructure projects is critical to the future prosperity of communities across Canada. Strategic infrastructure investment can support housing affordability in both infill development and new areas for fully-serviced development. Federal investment can also limit disproportionate development taxes on the buyers of new homes, a key factor raising prices and reducing affordability. As cities grow, so do infrastructure requirements. For decades, there has been inadequate investment in most Canadian cities to properly

“The government’s investment, if focused on core infrastructure and transit-oriented development, can support much needed housing affordability” support the renewal and expansion of basic infrastructure, and to develop effective transit systems to ensure efficient movement of people. This infrastructure gap is now having broad impacts on housing affordability and quality of life for residents, particularly in our fastest growing urban centres. Today, there is broad recognition for the need to increase collective investment in core public infrastructure, including public transit. The residential construction industry already contributes nearly $4 billion to this effort each year in development taxes, which ends up being paid by new-home buyers.

“Investment by the federal government, including innovative measures to lever private sector investment, is critical to addressing the infrastructure gap,” says Lee. “It is vitally important to ensure improved affordability and greater access to homes that meet people’s needs are the result. These investments should also address urban transportation challenges and gridlock that hamper economic vitality. To maximize the socio-economic and environmental benefits of infrastructure investments, it is critical that Canada’s governments link housing and infrastructure investment policies together.”

NOV 26 - DEC 10, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 31

Trending

2017 housing forecast: Federal and provincial policy to cool resale market, slow price gains By Lydia McNutt

WITH 2016 DRAWING to a close and

a new year ahead, housing market experts are making their predictions as to what to expect in 2017. According to RBC’s latest Canadian Housing Forecast, it’s cooler resales and curbed price increases, thanks to provincial and federal policy changes aimed at cooling the hot housing market. RBC has downgraded its earlier 2017 forecast, now calling for a national drop of 11.5 per cent in home resales following a 4.4-percent increase in 2016. Resale transactions are expected to reach a record high of 527,900 units nationally by year’s end. While resale transactions are expected to drop across the board, the degree will vary greatly depending on province. Declines could range from three per cent in Manitoba, to 24 per cent in British Columbia. However, benchmark prices are still expected to rise in 2017, though at a much slower pace – up 1.6 per cent, compared to 9.5 per cent in 2016. The rapid price gains this year are being led by British Columbia, which grew 20.5 per cent over 2015, and Ontario where the rate of growth hit a 27-year high of 11.6 per cent. “Overstretched affordability conditions in Canada’s most expensive markets are poised to restrain homebuyer demand, especially if longer-term interest rates rise as we expect – however, we see recent policy action as the bigger factor at play,” said RBC Senior Economist Robert Hogue in his report. “Importantly, we expect rule changes at the federal level will have 32 YPNEXTHOME.CA

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a dampening effect on home-buying activity across all provinces, not just for Canada’s hot markets.” New mortgage insurance rules, which took effect on October 17, are expected to reduce 2017 sales activity by eight per cent nationwide. Meanwhile in BC, the new tax on foreign nationals buying property in Vancouver – just one of the province’s policy changes aimed at cooling the hot housing market – is expected to reduce sales activity by 23.8 per cent next year. “While we downgraded our

housing market outlook, we remain of the view that our base case scenario would qualify as a soft landing posing little threat to the stability of the market, even in British Columbia,” Hogue wrote in his report. “There is an unusually high degree of risk around this outlook, however, both on the downside and on the upside. Much of this uncertainty stems from the difficulty to gauge the market’s reaction to the new policy measures, as well as the potential for further policy intervention to cool the market we assume none at the present time.”

Advice | FUNDAMENTALLY SPEAKING

Stress-testing mortgages at higher rate reduces one risk but creates another: Dunning By Wayne Karl

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CHANGES FOR MORTGAGE insurance

in Canada announced in October are intended to reduce housing activity in Canada, with the aim of slowing the growth rates for house prices and mortgage indebtedness. Many mortgage applications in Canada will be stress-tested using a benchmark interest rate that is currently 4.64 per cent. By contrast, actual rates in the mortgage market are 2.5 per cent or lower. Opinions on the potential impacts vary, with many economic commentators expecting that the reduction of resale market activity will be in the range of eight per cent or slightly higher. Canadian housing market economist Will Dunning explores the housing market and economic issues, in a report called Slamming on the Brakes. The report agrees that an eight-per-cent initial impact seems realistic, but concludes that there will be subsequent effects. Ultimately, housing market activity will be reduced by at least double (and potentially triple) the eight-per-cent factor. There will also be negative effects in the broader economy. “There is a cliche that it isn’t speed that kills, it’s the sudden deceleration,” says Dunning. “A drop in housing activity that is larger than the government expects would have further consequences that it does not expect, including falling house prices in many parts of the country and related economic damage.”

“A drop in housing activity that is larger than the government expects would have further consequences that it does not expect, including falling house prices in many parts of the country and related economic damage.” In addition to reduced home buying by first-time purchasers, subsequent effects include: » Fewer current home owners will buy different dwellings (because it will be more difficult to sell their current homes). » Jobs will be lost due to reduced transactions, which will further reduce housing demand. » If potential buyers expect that house price will fall, buying will be further deterred. » Housing starts will be reduced. An eight-per-cent drop in housing starts would cost 25,000 jobs. Doubling the impact would cost 50,000 jobs. » Lower housing starts will reduce how much housing will be available in future. Because there will be less movement out of rentals into home ownership, vacancy rates will be reduced and rents will rise more rapidly, aggravating challenges for tenants. “The government is aiming to

reduce the risk of a housing market implosion,” says Dunning. “The new policy is based on a future event that is possible, but has a low probability of occurring – that in five years, mortgage interest rates could be more than two points higher than they are today. In so doing, it is creating a risk that is also possible, and seems to have a higher probability of occurring – that its policy could have severe negative effects for the housing market and the broader economy. It would be useful to have more public discussion on the trade-off of risks.”

Wayne Karl is an award-winning writer and editor with experience in real estate and business. In Fundamentally Speaking, Wayne explores the basics – such as economic fundamentals – you need to examine when buying property. He can be reached at wayne.karl@ypnexthome.ca or follow him on Twitter at Twitter.com/ WayneKarl

NOV 26 - DEC 10, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 33

Hot Properties

Find your next home! This page features a few of the latest properties to keep your eye on in the Eastern Ontario area. Find more properties at ypnexthome.ca

LATEST LISTINGS

GOTHAM BY LAMB DEVELOPMENT CORP

CARLETON CROSSING

SPRING VALLEY TRAILS

GREYSTONE VILLAGE

By: Brigil City: Stittsville Housing type: Singles Contact: 613.257.4079 brigil.com

By: Claridge Homes City: Navan Housing type: Townhomes claridgehomes.com

By: eQ Homes City: Ottawa Housing type: Singles, towns, semis and condos Contact: 613.258.6488 greystonevillage.ca

ARTHAUS CONDOMINUMS LONGFIELDS STATION By: Campanale Homes City: Barrhaven Housing type: Condominium Contact: 613.440.3750 campanale.com

By: DevMcGill City: Downtown Ottawa Housing type: Condominium Contact: 613.909.3223 arthauscondos.com

THE CORNERS ON MAIN BLACKSTONE By: Cardel Homes City: Kanata South Housing type: Single Contact: 613.836.9521 cardelhomes.com

34 YPNEXTHOME.CA

By: Domicile City: Old Ottawa East Housing type: Midrise condos comprising a mix of six- and four-storeys Contact: 613.806.6246. cornersonmain.ca

eQUINELLE By: eQ Homes City: Kemptville Housing type: Bungalow Contact: 613.258.6488 eqhomes.ca

LIV TOWNS By: Glenview City: Kanata Housing type: Townhome Contact: 613.595.0591 sales@glenviewhomes.com glenviewhomes.com/liv

DOMAINE DU VIEUX-PORT BY BRIGIL

FINDLAY BY THE PARK

WHITE TAIL RIDGE

TALL SHIPS LANDING

By: Lemay Homes City: Leitrim Housing type: Singles, bungalows and townhomes Contact: 613.425.5255 lemayhomes.ca

By: Phoenix Homes City: Almonte Housing type: Bungalows and singles Contact: Kellie Connors 613.461.0277 phoenixhomes.ca

By: Thomas Fuller Construction Ltd. City: Brockville Housing type: Condominium Contact: 613.498.7245 tallshipslanding@fuller.ca tallshipslanding.com

FELTON COURT SOHO CHAMPAGNE By: Mastercraft Starwood City: West Central Housing type: Luxury condominiums Contact: sohochampagne.com

THE ORCHARD

By: Phoenix Homes City: Barrhaven Housing type: Townhomes Contact: phoenixhomes.ca

THE BOWERY CONDOS & LOFTS ABBOTTSVILLE CROSSING By: Mattamy City: Kanata Housing type: Singles, townhomes Contact: 613.790.2082 mattamyhomes.com

AVALON ENCORE By: Minto City: Orléans Housing type: Singles, townhome Contact: 613.834.6400 minto.com

UPPERWEST By: Minto City: Ottawa Housing type: Condominium Contact: 613.788.2786 liveupperwest.com

By: Richcraft City: Centretown Contact: 613.695.7577 thebowerycondos.ca

GALLERY TOWNHOMES By: Tamarack Homes City: Orléans Housing type: Townhomes Contact: tamarackhomes.com

HUNT CLUB TOWNS By: Theberge Homes City: Ottawa Housing type: Townhomes Contact: 613.680.5767 huntclubtowns.com

By: Uniform Urban Developments City: Barrhaven Housing type: Single-family homes and townhouses Contact: uniformdevelopments.com

RICHARDSON RIDGE By: Uniform Urban Developments City: Kanata Housing type: Singles, townhome and condo flats Contact: 613.435.7751 uniformdevelopments.com

BRADLEY ESTATES By: Valecraft Homes City: Mer Bleue/Orléans Housing type: Single-family homes and executive townhomes Contact: valecraft.com

Builders

If you would like to include your preview registration, new release or site opening in this feature, just email the details to sarah.khan@ypnexthome.ca

NOV 26 - DEC 10, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 35

Trending

Investor DNA Do you have what it takes to succeed as a real estate investor? By Kara Kuryllowicz

DO YOU HAVE what it takes to

become a real estate investor? Quite likely, yes! Anyone with access to cash or equity can invest in real estate, but if you want to succeed at it, understand this: it’s a business. “You wouldn’t consider becoming a doctor without getting the necessary education, so before you become a real estate investor, take courses, attend seminars, find a coach or mentor, surround yourself with successful investors and at the very least, read as many good books as possible,” says Michael Ponte, founder and president, Prosperity Real Estate Investments, Langley, BC. “Invest in yourself first, because you are the key factor to your own success.” Experts are overly familiar with 36 YPNEXTHOME.CA

the losses and challenges faced by rookie investors who acted without forethought and opted out of their due diligence. Sure, savvy investors can make money, but as in any business, a certain industry expertise, experience and a little good fortune are required. And even then, there are no guarantees. “Educate yourself, but you can pay experts to do everything from finding the best property for you to managing the books and the property, while you focus on your existing career,” says Nick Karadza, who co-founded Rock Star Real Estate and Rock Star Inner Circle, an Oakville, Ont.-based investment group. In 2012, Ash Srivastava, who still owns and operates an IT

consultancy, sold his first home at a profit of $80,000 just one year after purchasing it. Intrigued, he read up on real estate as an investment vehicle, then started slowly growing his portfolio. His first small rental condo proved a learning opportunity, and after the third of his now seven investment properties (in Waterloo, Mississauga, Toronto and Brantford), he joined Rockstar. There are investors who make big money quickly, but not many who do it consistently. And if you’re risk adverse and want to protect your earnings, the strategy known as “buy, hold and rent” is the best route. The “fix and flip” method is rife with risk, and even buying pre-construction condos aren’t a sure thing.

INVESTMENT STRATEGIES: 1. FIX + FLIP High risk. It’s a gamble, particularly for novice investors. Can you make money? Yes – but you need cash, expertise and luck to make it work. “It can be profitable for knowledgeable, experienced investors, but there is a lot involved and it’s not the easy money people think it is,” says Karadza. “There are far too many variables – the profit margins tend to be small, so one misstep or unforeseen issue and your profit becomes a loss.”

NOV 26 - DEC 10, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 37

2. PRE-CONSTRUCTION CONDOS Worth a look. A condo, particularly a studio or one-bedroom, will cost less than a single-family home, and may appreciate during the preconstruction phase. “It’s an amazing concept that has proven very successful, provided the investors selected the right building in the right city,” says Sharon Golberg, president, Dash Property Management, Toronto. The company advises investors and manages property for investors who live in Canada and about 25 other countries. Focusing on the building’s appreciation during the wait time can be fun, but it’s more important to 38 YPNEXTHOME.CA

consider the net post capital gain, once the capital gains taxes, realtor, legal and other fees associated with the sale have been paid. Golberg Karadza, meanwhile, is not a fan. As he sees it, “Why would I give someone else my money and watch my money work for them? I’d rather watch my tenant pay down my mortgage.” Banking on your condo to appreciate during the sales and construction phases could backfire or net you less

than anticipated; no one knows what the future holds in a world where global events increasingly affect national and even local economies and real estate markets. “You’re gambling that the future price will hopefully remain the same or increase, but no one has a crystal ball,” says Ponte, who has seen just how hard the decline of the oil and gas industry has hit Alberta real estate investors in the past 18 to 24 months. If your down payment is limited, pre-construction may be the only way to buy, hold and rent. As Golberg notes, condos are more affordable and straightforward with predictable costs.

“Do you know all of the rules and regulations – do you have the interest and time required to learn the ins and outs?”

3. BUY, HOLD + RENT Excellent idea. Experts suggest the most successful real estate investors focus on their time in the market, versus timing the market. Buy, hold and rent is generally the experts’ preferred strategy. “Our investment strategy is 95 per cent buy, hold and rent, as we found this to be the safest strategy and more importantly, provides some of the best returns,” says Ponte. Why? If you do it properly, your tenants pay down your mortgage and cover all of your operating expenses, including property management and taxes, insurance, utilities, maintenance and repairs and even the emergency

funds set aside for unexpected repairs and vacancies. “This is my preferred property type because of the GTA’s appreciation rates,” says Srivastava, who typically devotes six to eight hours a month to his real estate investments, with the bulk of this time spent analyzing new opportunities. “Positive cashflow is key to my investment strategy, and to maximize the cashflow, I self-manage my local properties and pay for services as needed.” Experts highly recommend setting up to five per cent of the monthly rent aside for contingencies, and having $5,000 to $7,000 per property on hand to cover temporary vacancies, repairs and unforeseen events. Looking at that extra cash every month, investors might be tempted to treat themselves to a motorcycle or a dream vacation, but our experts highly recommend more practical, responsible plans. For example, you can set aside a set percentage or even an entire property to fund young children’s education. While the perfect investment property may not exist, according to Karadza, there are winners and losers. Does it consistently generate positive cashflow? Will it do so over the long term? Buy a property with positive Srivastava cashflow and make sure that either you know how to analyze the deal, or that your advisors do, so that you’re not kicking in $700 a month to carry your so-called investment. This is something our experts see far too frequently from inexperienced investors.

“I do the due diligence to make sure (properties) meet my specific criteria, and I hire professionals to tackle the cleaning and touch-ups required before showing a unit,” says Srivastava. “A clean, fresh-looking unit warrants more rent and tends to attract tenants who stay longer and take better care of it.” Rather than risk a costly and stressful tenant-related error and take time and energy away from your primary career and family, outsource the property management to the professionals. “Do you know all of the rules and regulations – do you have the interest and time required to learn the ins and outs?” asks Golberg. As Ponte says, “If the property can’t support a property manager, it’s a crappy deal to begin with.” 4. BUY, RENOVATE, HOLD + RENT Proceed with caution. Unless you get an outstanding deal on a property and have the cash to renovate, it’s a risk and your return on the renovation won’t be seen for so many years that by the time you’re ready to sell, it will likely be time for another major upgrade. An upgrade beyond a refresh will warrant a higher rent, which typically attracts better tenants, but Ponte know that tenants are hard on properties and their various finishes. “After the first year with the tenants, it won’t have the pristine shine, which is why I save the big renovation with the high-end finishes until right before you sell it,” advises Ponte.

NOV 26 - DEC 10, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 39

Ad Index

Builder Name

Site Name

Prices

Location

et a Se che m d i Bu ng To alo w w n Ad hom ul t L e/C ife on st do yl e

ADVERTISERS

Page

WEST Almonte

Phoenix

White Tail Ridge

Arnprior

Campanale

Longfield Station

Carleton Place

Brigil

Carleton Crossing

Carp

Phoenix

Diamondview Estates

Hunt Club

Claridge Homes

Hunt Club Flats

Kanata

Cardel

Blackstone

Kanata

Claridge Homes

Bridlewood

Kanata

eQ Homes

Fernbank Crossing

Kanata

Glenview Homes

LIV Towns

Kanata

Mattamy

Abbottsville Crossing

Kanata

Phoenix

Fernbank

Kanata

Uniform Urban Dev.

The Elements

Kanata

Uniform Urban Dev.

Richardson Ridge

Ottawa West

Uniform Urban Dev.

Stittsville

From $380's

16, 17

Inquire

From $290's

Inquire

16, 17

From $260,900

10, 11

Inquire

From $391,900

10, 11

From high $200's

From mid $200's

From $227,990

4, 5

From $200's

16, 17

From $253,000

6, 7

Inquire

6, 7

Maple Creek

Inquire

6, 7

Brigil

Loreka Court

From $467,207

Barrhaven

Claridge Homes

West Pointe Village

From $342,900

10, 11

Barrhaven

Phoenix

Felton Court

From $270's

16, 17

Barrhaven

Minto

Chapman Mills

From $189,900

2, 3

Barrhaven

Valecraft

Woodroffe Lofts

From $224,900

Findlay Creek

Phoenix

Pathways

From $200's

16, 17

Kemptville

eQ Homes

eQuinelle

From low $300's

Leitrim

Lemay Homes

Findlay by the Park

From $336,900

Ottawa South

Campanale

Prince of Wales

Inquire

Ottawa South

Claridge Homes

Summerhill Village

From $335,900

10, 11

Ottawa South

Claridge Homes

Sundance

From $519,900

10, 11

Stonebridge

Uniform Urban Dev.

The Orchard

Inquire

6, 7

Old Ottawa East

eQ Homes

Greystone Village

From mid $500's

Ottawa Central

Theberge Homes

Hunt Club Homes

From $179,900

x x

SOUTH

CENTRAL

40 YPNEXTHOME.CA

et a Se che m d i Bu ng To alo w w n Ad ho m ul t L e/C ife o st nd yl o e

Builder Name

Site Name

Prices

Location

Page

EAST Clarence/Rockland

eQ Homes

Clarence Crossing

Navan

Claridge

Spring Valley Trails

Orléans

Minto

Orléans

From high $200's

From $339,900

10, 11

Avalon Encore

From $184,900

2, 3

Claridge

Royal Ridge

From $199,900

10, 11

Orléans

Phoenix

Hillside Vista

From $250's

16, 17

Rockcliffe

Uniform Urban Dev.

Waterridge Village

Inquire

6, 7

Brockville

Fuller

Tall Ship Landing

Inquire

C11

Downtown

Brigil

Petrie's Landing

From $181,800

Downtown

The Bowery

Richcraft

From $194,000

Downtown

Claridge Homes

Icon

From $291,000

C8, C9

Downtown

Claridge Homes

The Lofts

From $400's

C8, C9

Downtown

Claridge Homes

Tribeca

From $245,000

C8, C9

Downtown

DevMcGill

Arthaus Condos

Inquire

Kanata

Cardel

Blackstone

From $300's

C13

Old Ottawa East

eQ Homes

Terraces at Greystone Village

From low $300's

Ottawa Central

Domicile Development Inc

The Corners on Main

Inquire

Ottawa Central

Claridge Homes

Claridge Plaza 3 & 4

From $232,000

C8, C9

Ottawa Central

Claridge Homes

Fusion

From $288,000

C8, C9

Ottawa Central

Claridge Homes

Waterstreet

From $195,000

C8, C9

Ottawa Central

Mastercraft Starwood

Soho Champagne

From $302,900

C15

Ottawa Central

Minto

Upperwest

From $269,900

C16

Ottawa West

Greatwise Development

Qualicum Woods Crossing

From $205,900

C12

Ottawa West

Tamarack

Wellington

From $299,068

West Nepean

Claridge Homes

Stirling Park

From $247,000

C8, C9

CONDO

NOV 26 - DEC 10, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 41

Neighbourhood Profile

Little Italy Energetic, proud and welcoming

Fast facts

By Lindsay Foran

Average household income

$61,988 MORE PHOTOS ONLINE nexthome.yp.ca/little-italy

Family structure SINGLES

COUPLES

FAMILIES

52%

30%

18%

Own vs. rent

71%

RENTERS

ITALY IS LOCATED IN Centretown West and is the heart of Ottawa’s Italian community. Founded in 1900 by Italian immigrants, the neighbourhood has grown into a strong, energetic community. Lifestyle Cultural pride is second to none in Little Italy. Whether it’s St. Anthony’s Feast, which draws more than 10,000 people to the steps of St. Anthony’s Church every year, or Italian Week, residents are proud to celebrate their traditions and happy to share them with Canadians of any nationality. Soccer is like a religion for many residents of Little Italy. Vibe Little Italy is one of Ottawa’s most vibrant and exciting neighbourhoods. Entering through the archway on Preston Street (also known as Corso Italia), lit at night with the Italian flag, it feels as if you have entered another world, where fun and family are paramount. There isn’t a better place in the city to enjoy a soccer game at a local pub.

Meet the neighbours Historically, the neighbourhood was primarily made up of Italian families. In recent years, however, demographics have evolved, now offering a wider diversity and mix of heritages. This is a diverse neighbourhood ranging from young professionals in highrise condos to retirees in small bungalows. Planes, trains & automobiles With access to many major bus routes and close to the O-Train, getting around on public transportation isn’t a problem. Very walkable, major landmarks and destinations, including downtown are a reasonable distance away. For drivers, parking can be a challenge in the evenings and on weekends. The good, the bad & the rest Little Italy is a great jumping off point for many of Ottawa’s most important landmarks. Close to Dow’s Lake, the Rideau River, Carleton University and Le Breton Flats, Little Italy is a convenient area for outdoor enthusiasts, students and

29% OWNERS

Most common housing type HIGHRISE

Education levels

44%

UNIVERSITY

38%

HIGH SCHOOL

SOURCE: ENVIRONICS

professionals alike. For cultural exploration, start your adventure in Little Italy and continue into Chinatown, located just at the edge of Little Italy at Somerset Street. Real estate The good? If you like to be part of the action, then Little Italy is the neighbourhood for you. You can participate in the year-round cultural activities or unwind in one of the many bars and clubs that line Preston Street. It can be a tad busy, but who doesn’t want to be at the centre of so much action?

Lindsay has lived in the Ottawa/Gatineau area her whole life. When she’s not touring the city in search of the hottest new neighbourhoods, she’s busy writing fiction and enjoying life with her husband and two dogs.

42 YPNEXTHOME.CA

18%

COLLEGE

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FINISHED SUITES NOW AVAILABLE FOR VIEWING

THE 1ST RESIDENTS ARE NOW HOME IN TAMARACK WELLINGTON AND THE

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1140 Wellington St West

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