Toronto Condo Life - June 5, 2021

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Greater Toronto Area June 5–July 3, 2021

Greater Toronto’s COMPLETE CONDO GUIDE

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JUNE 5–JULY 3, 2021

CONTENTS COVER STORY

26 U.C. TOWER IN NORTH OSHAWA PHASE 2 OF TRIBUTE CONDO COMING SOON 6 condolife magazine | June 5–July 3, 2021

50

46 34 Real Insight The journey to buying your first home

35

Legally Speaking What you need to know about adjustments on new home closings

39 Condo Pro The wisdom of buying a new home or condo

42 The Marketing Edge Three things indie rock taught me about advertising

66 Industry Report

55

Government at all levels must commit to tackling housing shortage

FEATURES

40 One Fonthill Condominium Collection DEPARTMENTS

58

8

65 Advertisers Index

Editor’s Note Proving value

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

10

Contributors & masthead

12

Condo Life Online

COLUMNS

14

In the Spotlight

22

April sees record high sales of new condominiums in GTA; more news on pages 16, 17 and 18

Neighbourhood Watch

Anson Kwok, Pinnacle International

Stat Chat GTA new housing market

24 Western View Population growth the proverbial elephant in the room

30 Personal Finance

Etobicoke undergoing massive redevelopment

36 In Conversation With...

43 Interiors Cover 44 Decor Appliances

20 Inside The GTA 32

Mountainview’s sophisticated new Niagara condo

Maps & Amenity Charts

How not shopping around for a mortgage can cost you thousands

31

Home Realty Toronto – always a prized residential destination

46 Home Finds Inspiring ideas

50 Big Style, Small Spaces Decor ideas to freshen up your home for summer

52

Trending Seven hot new looks to love

54 Product Showcase New & Noteworthy

56 Trend Watch Desert sun

nexthome.ca | myhomepage.ca 7

EDITOR’S NOTE

PROVING VALUE

WAYNE KARL EDITOR-IN-CHIEF Condo Life Magazine

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

+ get social 8 condolife magazine | June 5–July 3, 2021

“Canadian homebuyers and sellers are in uncharted territory,” began a recent release from major realtor ReMax. This ought to be good, I thought, noting also that another line proclaimed that “Canadians need more than basic housing market knowledge from their professional realtor.”

There’s a lot to unpack there. And for the record, no offence to ReMax for the latter part of that second statement. It’s absolutely true that an experienced sales professional can be an invaluable part of your new home search team.

The part about needing “more than basic knowledge,” though? While that, too, is bang on, it’s somewhat surprising that that’s a chief revelation in a homebuyer survey.

Without a doubt, buying a home for many is an intimidating experience – especially these days, with prices being as high as they are. Let’s be honest, for some, it can be downright scary.

But even when GTA and other Ontario housing markets weren’t seeing routine double-digit price growth, and leading the continent in this respect, consumers should always understand that more than basic knowledge is a requirement for something of this magnitude.

It’s also true that we’re in unprecedented times, with COVID impacting homebuyer behaviours and desires, and now new mortgage regulations as of June 1 that might make it more difficult for some buyers to qualify.

All of this underlines the need for knowledge and information. The onus is on you, the homebuyer, to develop a fuller understanding of not just a transaction but of the new home segment – builders, communities, infrastructure, market influences, financing options…

That’s where publications such as Condo Life prove their value. If you’re in the market for a new home, you’re no doubt taking notice of the numerous marketing vehicles builders and developers use – Twitter, Facebook, Instagram, TV, radio and more. It can be a lot to take in, and with some platforms, messages fleeting and homebuying opportunities hard to track.

With a good old hard copy magazine, though, you can take it, hang on to it, read it, re-read it, dog-ear the pages, share it… really absorb the information and learn, over the course of many editions through your months-long newhome search. Community profiles, expert columnists, neighbourhood profiles and more. In short, our goal is to provide depth, context and balance, all of it also published online at nexthome.ca, to aid you in your research.

So, yes, as per ReMax, a reputable sales professional can be part of your team, as well a mortgage specialist and lawyer. But before any of those, take some time to learn about this uncharted territory you’re about to venture into, with our expert content as your guide.

We think you’ll agree the package proves its value.

Interact with us on social media: nexthome

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

CHIEF REVENUE OFFICER

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

Michael Rosset EDITOR-IN-CHIEF – NATIONAL REAL ESTATE

WESTERN VIEW | MIKE COLLINS-WILLIAMS Mike Collins-Williams, RPP, MCIP, is CEO West End Home Builders’ Association. westendhba.ca.

Susan Legge susan.legge@nexthome.ca EDITOR-IN-CHIEF – GREATER TORONTO AREA

Wayne Karl wayne.karl@nexthome.ca MANAGING EDITOR

Rise Levy CONTRIBUTORS

HOME REALTY | DEBBIE COSIC 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

CONDO PRO | BARBARA LAWLOR Barbara Lawlor is President and CEO of Baker Real Estate Inc., and an in-demand columnist and speaker. A member of the Baker team since 1993, Barbara oversees the marketing and sale of condo developments in Canada and overseas. baker-re.com

Jesse Abrams, Mike Collins-Williams, Debbie Cosic, Sara Duck, Barbara Lawlor, Geoff McOuat, Linda Mazur, Ben Myers, Jayson Schwarz, Lisa Rogers, Dave Wilkes SENIOR VICE-PRESIDENT, SALES NEXTHOME

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

Jessica Wilson 416.873.1049, jessica.wilson@nexthome.ca Natalie Chin 416.881.4288, natalie.chin@nexthome.ca DIGITAL SALES MANAGER

Amanda Bell VICE-PRESIDENT MARKETING – GTA

Leanne Speers SENIOR CLIENT RELATIONS SPECIALIST – GTA

Sonia Presotto MANAGER CUSTOMER SALES/SERVICE

THE MARKETING EDGE | GEOFF MCOUAT Geoff McOuat is Creative Director, Brand Identity Consultant and Principal at McOuat Partnership, Toronto. mcouatpartnership.com

Marilyn Watling SALES & MARKETING CO-ORDINATORS

Gary Chilvers, Vi Nguyen HOME SHOW MANAGER & NEWSPAPER CIRCULATION – GTA

Josh Rosset DISTRIBUTION

distributionteam@nexthome.ca ACCOUNTING INQUIRIES

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

DIRECTOR OF PRINT MEDIA

Lauren Reid–Sachs VICE-PRESIDENT PRODUCTION – GTA

Lisa Kelly PRODUCTION MANAGER – GTA

Yvonne Poon GRAPHIC DESIGNER & ASSISTANT MANAGER

Alicesa Pullan

REAL INSIGHT | LISA PATEL Lisa Patel is President of the Toronto Regional Real Estate Board, a professional association that represents 54,500 professional realtor members in the Greater Toronto Area. You can contact her at trebpres@trebnet.com. trreb.ca

GRAPHIC DESIGNER & PRE-PRESS COORDINATOR

Hannah Yarkony GRAPHIC DESIGNERS

Johannah Lorenzo, Mike Terentiev, Alice Wu Published by

nexthome.ca

LEGALLY SPEAKING | JAYSON SCHWARZ Jayson Schwarz LLM 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.

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

Official Media Partners:

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10 condolife magazine | June 5–July 3, 2021

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Copyright 2021 All rights reserved. All copyright and other intellectual property rights in the contents hereof are the property of NextHome, and not that of the individual client. The customer has purchased the right of reproduction in NextHome and does not have the right to reproduce the ad or photo in any other place or publication without the previous written consent of NextHome.

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

Editorial Submissions from interested parties will be considered. Please submit to the editor at editorial@nexthome.ca.

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Catch up between issues at

nexthome.ca & enjoy these popular stories

THE POWER SEAT

Homebuilding leadership lessons from the best worst year ever There’s a bit of an elephant in the room, and our select group of homebuilding executives address some of the hot-button issues facing the industry and homebuyers these days.

MORTGAGES

DEVELOPMENT

Four factors to consider when buying your first home If you’re looking to buy your first home or condo, there’s a few things you should consider before getting started to ensure you’re prepared and that there are no surprises.

The future is now at Downtown East Broccolini development – LeftBank The up-and-coming River District in Toronto’s Downtown East will soon have another new signature residence from Montreal-based developer Broccolini – LeftBank. And, oh, it’s a beauty.

INSIGHT

Transportation planning vital to quality of life in the GTA Planning for growth, including transportation planning, is vital to enhancing the quality of life of every present and future resident of the GTA and Ontario. This is a real issue that needs serious, fact-based discussion.

NEW CONDO

Carriage Gate’s new Gallery Penthouse Masterpiece Collection offers unrivalled exclusivity and space Unique views via large expansive windows and private outdoor spaces, offering countless opportunities to bask in the beautiful sights... The Gallery Penthouse Masterpiece Collection offers all this and more in downtown Burlington.

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or check us out on 12 condolife magazine | June 5–July 3, 2021

@condolifemag

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Toronto, Canada

Vancouver, Canada

in the spotlight

GTA NEW CONDO MARKET RECORDS HISTORIC SALES IN APRIL The GTA new home market saw another very strong month in April, with record high sales of new condominium suites, according to the Building Industry and Land Development Association (BILD).

Condominiums, including units in low-, medium- and highrise buildings, stacked townhouses and loft units, accounted for 3,619 new home sales in April, according to Altus Group, BILD’s official source for new home market intelligence. It was the highest number of new condominiums sold in April since 2000 and 69 per cent above the 10-year average.

Sales of new single-family homes, including detached, linked and semi-detached houses and townhouses (excluding stacked townhouses), with 1,020 units sold, were 26 per cent below the 10-year average.

“We are continuing to see unprecedented activity in the GTA market,” says Dave Wilkes, BILD president and CEO. “The robust demand testifies to the continued attractiveness of the GTA as a place to call home. We must double down on our efforts to build enough supply to keep the market balanced and provide homes for the more than four million additional people who will call the GTA home by 2051.”

“The record number of new condominium apartment sales for April was boosted by a high number of recent launches of product spread throughout the GTA – about two-thirds of April sales were in projects opened in April,” adds Ryan Wyse, Altus group’s manager, analytics, Data Solutions. “The rapid price increase for new single-family homes since last summer is also a factor, as price sensitive buyers shift their expectations to product they can afford.”

The benchmark price for new condominium apartments decreased in April compared to the previous month, to $1.06 million, but it was up 7.5 per cent over the last 12 months. The benchmark price for new single-family homes also decreased compared to the previous month, to $1.39 million, which was still up 24.8 per cent over the last 12 months.

apRil new home sales by muniCipality Condominium units

The One Stop Shop for Builder Storytelling mcouatpartnership.com

single-family homes

total

Region

2021

2020

2019

2021

2020

2019

2021

2020

2019

Durham

140

6

40

276

74

121

416

80

161

halton

339

46

42

104

49

88

443

95

130

Peel

790

29

760

219

54

269

1,009

83

1,029

toronto

1,390

341

1,004

12

13

52

1,402

354

1,056

York

960

86

1,206

409

119

254

1,369

205

1,460

Gta

3,619

508

3,052

1,020

309

784

4,639

817

3,836

Source: altuS GrouP

14 condolife magazine | June 5–July 3, 2021

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IN THE SPOTLIGHT

HOUSING MARKETS TO MODERATE BUT RISKS REMAIN: CMHC While economic growth, employment and net migration in Canada recover from losses incurred during the COVID-19 pandemic, home sales and price growth will moderate from unsustainable 2020 levels but remain elevated, according to the Canada Mortgage and Housing Corporation (CMHC)’s latest Housing Market Outlook.

“COVID-19 has had unprecedented impacts on Canada’s urban centres,” says Bob Dugan, CMHC’s chief economist. “While some sectors of the economy have struggled to adapt to pandemic conditions, housing activity has been strong and somewhat disconnected from

overall economic and employment conditions in many centres.

“Economic conditions are expected to return to pre-pandemic levels by the end of 2023, if broad immunity to COVID-19 takes hold by the end of 2021,” he says. “This includes the pace of home sales and prices, which we expect to see moderate from 2020 highs over the same period. However, significant risks remain with respect to the path, timing, and sustainability of the recovery.”

The outlook assumes the fiveyear mortgage rate will increase but remain very low by historical standards until the end of 2023. It’s not certain if the shift toward workfrom-home arrangements, which is a factor in driving housing demand from more expensive CMAs to less expensive markets, will persist after the pandemic, causing risk to the forecast.

NATIONAL HIGHLIGHTS

• Economic growth, employment, and net migration will gradually return to pre-COVID levels over the 202123 period, as broad immunity to COVID-19 takes hold and restrictions are lifted in Canada and globally.

• The pace of sales is expected to moderate from recent highs, reflecting high price levels on 16 condolife magazine | June 5–July 3, 2021

existing-home markets, the impact of increasing mortgage rates, and low inventories of homes for sale. Slower sales growth will help moderate the pace of price growth.

• The ratio of single-detached housing starts to total starts will increase through 2021, reflecting the shift in preference toward single-detached units on the resale market, as indicated by their current low inventories and strong price growth. Housing starts will stabilize at levels consistent with household formation by the end of 2023.

• Rental demand will recover as both immigration and inter-province migration recover. This recovery in demand will also be driven by the return of international students and in-class learning at universities in the large cities. However, vacancy rates will likely remain elevated, compared to pre-COVID levels.

• The precise timing and speed of the economic recovery in major markets is highly uncertain, and outlooks remain subject to significant risks. These include a slower-than-expected reaching of broad immunity to COVID-19 and stronger-than-expected inflationary pressures leading to higher mortgage rates.

In the spotlIght

CANADIAN HOMEBUYERS NEED DEEPER UNDERSTANDING OF REAL ESTATE: SURVEY

Canadian homebuyers and sellers would benefit from a deeper understanding of real estate in these challenging times, according to a new survey from ReMax Canada.

The market is in uncharted territory, with another cycle of rising prices across the country, stretched affordability thresholds and demand continuing to far outstrip supply – conditions that will not be rectified in the short or mid-term.

Adding to these complexities is the unexpected rise of Canadians upending their urban lives in favour

of new beginnings in suburban and rural settings, creating a dramatic shift in lifestyle expectations, the company says.

“The stakes have never been higher for buyers and sellers,” says Christopher Alexander, chief strategy officer and executive vice-president, ReMax of Ontario-Atlantic Canada.

The company stresses the importance of buyers and sellers working with experienced and knowledgeable real estate professionals during such challenging market conditions.

Nearly half (41 per cent) of Canadians claim to not be knowledgeable about the buying and selling process, according to a recent Leger survey commissioned

by ReMax Canada. Yet, 50 per cent still expressed interest in buying or selling a home using a DIY buying and selling platform for their perceived efficiency, ease, and convenience. But nothing about this current market is easy, and with affordability, coupled with the current safety challenges in the mix, going it alone could have unintended consequences.

Of the 41 per cent who aren’t knowledgeable when it comes to buying or selling real estate, nearly half (46 per cent) are Millennials, the largest cohort of buyers and sellers across the country. They are also the ones most likely to test alternatives to a realtor-led transaction; as many as 57 per cent state that they are more likely to buy or sell a home using real estate technology, given its increased availability.

NEW MORTGAGE RULES NOW IN EFFECT As of June 1, new mortgage regulations from the Office of the Superintendent of Financial Institutions (OSFI) went into effect. The minimum qualifying rate for uninsured mortgages (residential mortgages with a down payment of 20 per cent or more) will be the greater of the mortgage contract rate plus two per cent, or 5.25 per cent.

Homebuyers face a wide range of issues, OSFI says, including high indebtedness, rapidly rising home prices, housing supply and competitive bidding in the resale market.

OSFI is also launching a new process to review and communicate

the qualifying rate at a minimum annually, every December. This timing is set in advance of the high-volume spring housing market.

“In a complicated and sometimes volatile housing market, the need for sound mortgage underwriting cannot be underestimated,” says Ben Gully, assistant superintendent, regulation.

“The new qualifying rate will help support financial resilience, should economic circumstances change, while our commitment to review the qualifying rate at least annually will contribute to continued confidence in the Canadian financial system.”

nexthome.ca | myhomepage.ca 17

IN THE SPOTLIGHT

ONTARIO MARKETS STILL THE HOTTEST IN CANADA Housing markets in Ontario continue to defy pandemic odds and lead the country in price growth, according to the latest Royal LePage House Price Survey.

For the first quarter, the aggregate price of a home in Canada increased 14.1 per cent yearover-year to $749,165, as strong demand continues to outpace supply in virtually every market across the country. More than two thirds of the regions surveyed (67 per cent) saw year-over-year double-digit aggregate price gains, driven largely by the single-family property segment.

Ontario markets continue to be the star performers, with most showing high double-digit price growth – including Windsor at 30.2 per cent.

The median price of a standard two-storey home in Canada rose 15.9 per cent year-over-year to $894,140, while bungalows increased 14.1 per cent to $628,341, and condominiums 2.0 per cent to $509,364. Price data includes both resale and new build. “(Last year) was a year like no other in Canadian real estate, with its unprecedented demand for homes, and month after month of recordsetting sales and price appreciation,” says Phil Soper, president and CEO of Royal LePage. “The usual winter slowdown was non-existent, and that momentum was carried forward through the first quarter of 2021.”

Royal LePage is forecasting that the aggregate price of a home in Canada will increase 13.5 per cent to $805,000 in the fourth quarter of 2021, compared to the same quarter last year.

A return to pre-pandemic levels of immigration, the vaccine rollout’s impact on economic stability and confidence in the labour market, and continued low interest rates are supportive of home price growth through 2021.

“We expect this extreme seller’s market to moderate as the year progresses,” says Soper. “Some buyers will step away from the market in the face of sharply higher prices, and the supply of new listings should improve as people feel more confident that the health crisis is under control.

“It is important to note that the surge in housing demand over the past year was organic – buyers looking for

family homes to live in. With borders closed, foreign investment was near non-existent, and speculative investment was very low. Yet new Canadians are beginning to arrive once more, and investors are regaining confidence and returning to the market. This should sustain the current real estate boom well into 2022.”

In the GTA, the aggregate price of a home increased 13.1 per cent year-over-year to $989,961 in the first quarter of 2021. Two-storey homes rose 13.6 per cent to $1,164,894, bungalows 15.3 per cent to $982,120, and condos 1.2 per cent to $598,819.

“There is a persistent momentum in the market that continues to put upward pressure on prices,” says Debra Harris, senior vice-president, Royal LePage Real Estate Services Ltd. “Without an extended surge of inventory, that momentum is unlikely to relent.”

MEDIAN HOME PRICES, ONTARIO MARKET

Q1 2020

Q4 2020

Q1 2021

Q/Q % chg

Y/Y % chg

Ajax

$704,832

$774,233

$828,653

7.0

17.6

Barrie

$527,078

$602,559

$646,168

7.2

22.6

Belleville/Trenton

$327,535

$355,728

$391,251

10.0

19.5

Brampton

$774,525

$838,810

$879,126

4.8

13.5

Burlington

$830,275

$922,620

$968,608

5.0

18.7

Guelph

$584,450

$625,356

$659,744

5.5

12.9

Hamilton

$581,633

$655,769

$677,034

3.2

16.4

Kingston

$395,351

$441,885

$466,137

5.5

17.9

Kitchener-Waterloo Cambridge

$540,988

$602,981

$657,532

9.0

21.5

London

$434,360

$482,815

$521,988

8.1

20.2

$1.01M

$1.09M

$1.14M

4.4

12.9

Markham Milton

$806,404

$875,787

$917,889

4.8

13.8

Mississauga

$828,871

$884,527

$914,296

3.4

10.3

Niagara-St. Catharines

$467,873

$536,284

$568,205

6.0

21.4

$1.14M

$1.22M

$1.29M

6.3

13.5

Oshawa

$581,225

$658,670

$727,618

10.5

25.2

Pickering

$738,422

$847,704

$910,815

7.4

23.3

Richmond Hill

$1.12M

$1.83M

$1.23M

4.8

9.8

Scarborough

$709,396

$776,992

$833,716

7.3

17.5

Toronto

$917,000

$944,888

$984,709

4.2

7.4

Vaughan

$1.03M

$1.11M

$1.18M

5.9

14.9

Oakville

Whitby

$706,902

$789,941

$845,038

7.0

19.5

Windsor

$300,494

$353,830

$391,265

10.6

30.2 SOURCE: ROYAL LEPAGE

18 condolife magazine | June 5–July 3, 2021

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BOUTIQUE CONDO RESIDENCES COMING SOON TO LORNE PARK Cachet Homes is introducing an exclusive collection of 10 perfectly curated homes for elevated luxury living. The modern townhomes and inspired semidetached models at Lorne Park Place start from $2 million and provide a rare opportunity for a select few who know and love the area, which is known for its high-end shops, popular restaurants and family-friendly parks and trails. lorneparkplace.ca

Waterfront condos in Whitby With prices starting from the mid $400,000s, Carttera’s new condominium, The Landing Whitby Harbour, could be the perfect place for those who long to live by the water.

Located on Lake Ontario, just south of downtown Whitby, a GO station and Hwy. 401 are minutes away from the community, as are tons of shopping, a community centre and much more.

Boaters will love having the Whitby Yacht Club within walking distance, and the waterfront trail around Whitby Harbour is the perfect place to take in the views throughout the year. thelandingcondos.ca

20 condolife magazine | June 5–July 3, 2021

The Moderne in downtown Hamilton The third phase of the iconic Royal Connaught Square will be taking downtown Hamilton to new heights, while continuing a century-old legacy.

The Moderne will be one of the tallest condominium towers in the city, adding a 36-storey structure to Hamilton’s skyline.

Located along King Street and Catharine Street, adjacent to the historic Residences at the Royal Connaught, The Moderne is the first of three new residential buildings planned for this community. modernecondos.com

Phase 2 of Union Village in Markham is sold out

Union Village has four phases and a wide range of housing types, including single-family homes, back-toback townhomes, rear-lane townhomes and traditional townhomes. Future phases are coming. minto.com

Floating saucers movable, unsinkable, autonomous” pod designs, it’s a reality. Based on the vision of naval architect Jean-Michel Ducancelle, the inspiration came from the 1977 James Bond movie, The Spy who Loved Me. Each solar-powered floating saucer is outfitted with living spaces designed for entertaining, relaxing or conducting business.

There are five different designs to choose from in the collection. anthenea.fr

Before the stay-at-home order, representatives from Aoyuan, Wallman Architects and SKYGRiD posed on the site of M2M’s master-planned community at Yonge and Finch to mark the below-grade construction of the project’s twotower first phase. When completed, M2M will be home to five towers with 1,750 residential units, 180,000 sq. ft. of office and retail space, a community centre, a public park and a daycare. m2mcondos.com

Photo: Anthénea

Looking for a pied-à-terre that floats on the water for less than $500,000 U.S.? Who isn’t? According to Anthénea, the France-based company behind the fleet of “adventurous,

An M2M moment

Photo: Geoff Fitzgerald

The latest phase of Union Village in Markham sold out in a week!

“The reception of Union Village has been so rewarding for us,” says Mike LaPlante, vice-president of land development, Minto Communities GTA, which has partnered with Metropia on this project. “As a developer, we are always seeking to build community, and this thoughtful approach has resonated with purchasers as seen with through our Phase 2 sell-out. It was important for us to offer flexible floorplans and open up new possibilities for future residents to live with extended family or to support aging-in-place. We also continued to deliver on our commitment to sustainability by introducing NetZero home upgrades as an option.”

Voya is coming soon to Mississauga One of downtown Mississauga’s most established condominium communities is unveiling an exciting new residence – Voya.

Spotted at the Parkside Village sales centre near Confederation Parkway and Burnhamthorpe Road West, Amacon’s latest design is part of the community’s 30-acre plan, which has been taking shape since 2003. Residents will enjoy proximity to an abundance of amenities, including Square One and local transit. The three acres of parkland are also an important part of life at Parkside Village. See the community plan online. lifeatparkside.com/voya nexthome.ca | myhomepage.ca 21

ADVICE | stAt ChAt

three areas poised for growth in the GtA’s booming new home mArket

Ben myers

According to data released by BILD and its data partner the Altus Group, the sales of new homes in the GTA in April 2021 marked a 20-year high for the month. The pre-construction market is back, big time.

A question I get asked regularly is: Where is the next hot spot for real estate in the Greater Toronto Area?

I’m trying not to think too shortterm, but COVID-19 has certainly impacted my opinion, especially about prime downtown real estate.

If you are an investor looking at the highrise condo market in downtown Toronto, there is certainly a lot of inventory coming to market this year via completions. There is a multi-year lag between the sales and deliveries, and there was a record of more than 35,000 new condominium sales in 2017. Those buildings launched in 2017 are just now starting to complete and occupy, and they have a high share of investor purchasers who plan to rent them out.

According to data from rentals.ca, the average rent for condo apartments in the downtown core decreased by more than 20 per cent from the late 2019 peak to early 2021 though, an unprecedented drop. Some buildings have seen average rent decline by more than 30 per cent during that time. I fundamentally believe people will return to downtown, they will return to office towers, and the market will pick up again. Still, I would recommend being cautious when looking at condo product for more

22 condolife magazine | June 5–July 3, 2021

than $1,400 per-sq.-ft., especially if you’re looking to rent your suite for somewhere near your carrying costs.

The demand for new groundoriented housing (single-detached, semi-detached and townhomes), in the outer-suburban markets has taken off again, with average pricing up 25 per cent annually in April. We’ve seen this story before.

The average price for unsold new single-family homes increased by about 45 per cent annually in 2017, prompting the government to do something to stop it. Following the introduction of the Fair Housing Plan in April of 2017, demand and pricing declined significantly, and there was a couple of years of price flatness and tepid sales absorption. With lumber prices going through the roof right now, new single-family homes prices are only going to skyrocket.

This segment of the market has experienced a lot of price volatility, so if you are an investor, you have been warned – volatility equals risk.

So where does this all leave us?

Opportunities are emerging in certain areas, in terms of new condo construction. The explosion in new high-density activity in Oakville may be a good indicator of things to come in other municipalities.

Oakville is a highly desirable town and, because of the spike in downtown Toronto, pricing has become much more appealing to investors, with pricing from $850 per-sq.-ft. to $900 per-sq.-ft. Look for the same type of boom to occur in Aurora near the GO train station, and around Yonge and Bayview.

If you still can’t wrap your head around paying more than $500,000 for a 600-sq.-ft. suite, you should take

a look at Hamilton. The downtown is going through a revitalization, and many of the condo projects launched there recently have sold out in less than a year. This is a stunning result for an area completely ignored five years ago. Downtown Hamilton is what downtown Toronto was 25 years ago; if you have a long-term vision, this is a great place to put your money.

But my top choice right now is Scarborough; it is about the only place in the amalgamated City of Toronto where you can buy a unit for less than $900 per sq. ft. If you are a local investor, you don’t have to drive an hour to get to your property, and there is tremendous investment in future transit coming to Scarborough.

In 15 years, Kingston Road will be unrecognizable, with mid- and highrise towers from Victoria Park in the west to Pickering in the east.

Look for an explosion of activity around the GO train stations as well.

If you’re in the market for a new home, surround yourself with an experienced team, including a realtor familiar with the new home market, and a mortgage broker who can find you the best deal. Buy what you can afford, buy for the long-term, and do your research. Good luck.

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

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ADVICE | WESTERN VIEW

POPULATION GROWTH THE PROVERBIAL ELEPHANT IN THE ROOM MIKE COLLINS-WILLIAMS

Over the past year, record-breaking home sales and price increases have provoked urgent discussions on how to address the chronic undersupply of housing in the face of skyrocketing demand. The erosion of the middle class and the aspirations of young Canadians to start families in communities across the Greater Golden Horseshoe is a huge issue that politicians and policy makers need to act on. With each passing year, homeownership, especially for younger generations, is becoming even more unattainable.

The Greater Golden Horseshoe is Canada’s primary economic engine and the fastest growing region in North America. The proverbial elephant in the room is the massive amount of growth still forecasted to come our way in the coming decades. The Greater Golden Horseshoe is forecast to welcome 4.6 million new people by 2051. To put this into context, the regional growth is equivalent to the entire population of Greater Montreal moving here over the next 30 years. The only way to keep the lid on housing prices, is for local municipalities to acknowledge that elephant in the room and make realistic and achievable plans to respond to population growth.

Like anything else, housing prices are primarily a function of supply and demand. An underappreciated driver of Ontario’s housing boom is the increase in

24 condolife magazine | June 5–July 3, 2021

the number of people moving to the province. Between 2015 and 2020, the growth rate in Ontario nearly doubled as the population grew by one million people. This rapid population growth has caused a significant shortage in family housing. This is why municipalities need to speed up approvals for transit-oriented communities with a diversity of unit sizes and to allow our urban boundaries to expand to accommodate more housing.

Realistically, we can’t continue to oppose to a city boundary expansion while simultaneously expecting housing prices to drop – or to not increase at the pace they have been recently. It is simply not a feasible approach, and it does not encourage complete communities.

This is exactly why the provincial government has an updated Growth Plan to ensure there is sufficient supply and mix of housing, that also

protects our valuable environmental resources within the Greenbelt. The Growth Plan provides direction on where and how to grow, but the ball is now in the municipal court.

Municipalities need to implement realistic plans to respond to population growth and address the housing crisis.

The Canadian dream of owning a home is moving further away from our younger generations. It is critical that our elected officials plan for, and rapidly advance, opportunities for new housing in vibrant complete communities.

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

+MORE CONTENT ONLINE nexthome.ca

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COVER STORY

UC Tower Rendering

THE APPEAL OF U.C. IS EASY TO SEE! PRESENTING U.C. TOWER 2, COMING SOON TO NORTH OSHAWA It’s an incredibly exciting time in Oshawa. The city has been experiencing a cultural and civic renaissance lately, as people are starting to sit up and take notice of everything this remarkable urban centre has to offer. Proof of this is the success of the U.C. community and the recently sold out U.C. Tower from Tribute Communities. Anxious to build 26 condolife magazine | June 5–July 3, 2021

on homebuyer’s interest in all things Oshawa, Tribute Communities is proud to announce the release of U.C. Tower 2 in north Oshawa – coming this summer. Another truly towering community from one of Durham’s most noted builders.

Hot on the heels of the heavilyanticipated U.C. Tower, this new addition to the Tribute family is

primed to make a bold statement in the heart of north Oshawa’s most vibrant neighbourhood, solidifying its role as Oshawa’s premier address for convenience and style. Following in the footsteps of the first tower, this newest example of Tribute’s design and quality obsession was meticulously designed to complement the existing

Artist’s concept

UC Tower Lounge

neighbourhood and take advantage of everything this exciting Durham locale has to offer. Allowing U.C. Tower 2’s residents to live their life to the fullest, just moments from the modern amenities and contemporary luxuries they demand.

Offering a wealth of suite options (one-, two- and three-bedrooms) to appeal to a wide range of homebuyers, U.C. Tower 2 puts the best of everything at your fingertips. Both in the building itself and outside of it.

With next-generation on-site amenities such as an innovative fitness centre, a calming and Zen-like yoga room and outdoor yoga/meditation space, you can wash away the cares of the day. Or take advantage of the well-appointed outdoor kitchen to create a sumptuous feast for two or 10. Also, party rooms give you the flexibility to be the ultimate host, and the fully-connected flex spaces allow for business meetings and guest rooms for out of town visitors who don’t want to impose. As you can see, Tribute Communities has thought of everything when creating U.C. Tower 2.

U.C. Tower 2 will soon allow residents to surround themselves with everything they hold dear.

Artist’s concept

Artist’s concept

Nature lovers can rejoice as they take advantage of a number of conservation areas, including the Cedar Valley Conservation Area, Camp Samac or a myriad of trails that weave themselves along beautiful Harmony or Oshawa creeks. Golf lovers can hit the links at renowned local courses such as Kedron Dells Golf Club, or Columbus Golf and Country Club. Or if shopping is more your speed, feel free to spend your time (and money) at any number of nearby retail establishments.

Shoppers can choose from RioCan’s brand new Windfield’s Shopping Centre just steps away, a quick drive to the revamped Oshawa Centre, or any number of retailers and standalone boutiques and shops strewn throughout the city. Big brands, big box and local boutiques are all represented.

Or for fun and excitement, the area’s most-anticipated attraction and its Vegas-style exhilaration lies waiting for new residents in the form of DurhamLive! – just a short drive away. Slated to open later this year, residents can enjoy incredible dining, world-class hotels and retail, and entertainment options for all

UC Tower Lobby

nexthome.ca | myhomepage.ca 27

ages, including VIP cinemas, an amphitheatre for live concerts and theatre, a performance hall, golf course, water park and so much more.

And if the pursuit of higher knowledge is what you crave, then world-renowned Ontario Tech University and Durham College await students of all ages just moments from your homebase at U.C. Tower 2. All this, plus its coveted location, allows for quick and easy access to Hwys. 407, 401 and the newly-opened Hwy. 412, should the wind blow you in that direction. U.C. Tower 2’s location has been painstakingly chosen to connect you to the things that matter most to you.

COMMITTED TO DURHAM. AND BEYOND

U.C. Tower 2 is another reflection of the passion and drive behind the core decision makers at Tribute Communities. A core passionate group who says that after this long, Tribute Communities is just getting warmed up. Thanks to projects in the works across both Durham Region and the GTA, there’s no stopping this well-respected builder. From lowrise to highrise, from Durham to the steel and glass canyons of Canada’s largest urban centre, Tribute Communities is building for the future.

Tribute Communities is an award-winning builder with more than 35-years’ experience which has built more than 35,000 homes and condominiums across the GTA. Tribute consistently creates unique highrise and lowrise communities that are always above industry standards for excellence and design.

The company has an outstanding reputation that has been recognized with many top industry awards. For more information on U.C. Tower 2 or to discover Tribute’s many other fine communities, visit mytribute.ca.

To register for UC Tower 2 visit the website. uctower2.ca

UC Tower Gym 28 condolife magazine | June 5–July 3, 2021

UC Tower 2 Site

UC Tower Under Construction

Artist’s concept

A TREE FOR EVERY HERO.

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 part of Trees for Life’s Tree Coalition, we are proud to work collaboratively with GrandTrees Climate Solutions.

ADVICE | PERSONAL FINANCE

MORTGAGE MISTAKES HOW NOT SHOPPING AROUND CAN COST YOU THOUSANDS

JESSE ABRAMS For Canadians buying a home, one of the first things on your to-do list should be to figure out where to get a mortgage. A recent survey conducted

by Homewise found that more than half of prospective homebuyers in Canada under the age of 45 – many of them first-timers – don’t shop around for a mortgage. Among those mortgage-seekers, more than half of them would go only to their own bank or one of Canada’s big banks.

Unfortunately, it’s clear that many don’t realize there are many other, potentially better mortgage options available in the marketplace that can save them thousands of dollars.

Although heading to your current bank might seem like the easiest way to find a mortgage, it can be restricting because it’s only one option out of the many that exist.

When you don’t shop around, you lose access to the different rates and features available, as well as the potential opportunity to save thousands of dollars. No two lenders are the same, which is why it’s necessary to broaden your search, understand the different mortgage features and options, while determining how they align with your specific needs.

Of course, shopping around can help homebuyers get a view of the best available rates in the market.

However, rate is often not the largest money saver; it’s actually the mortgage key features. For example, many buyers break their mortgage early (before the end of their five-year term), whether it’s to move to a new home, refinance and other reasons.

Certain lenders have substantially higher penalties for breaking a mortgage early – as much as tens of thousands of dollars. While a slightly lower rate may save you $20 a month, having a view of the potential penalties based on the lender can save you five to 10 times more over time.

If you’re a homebuyer who wants to pay down your mortgage as fast as possible, shopping around is also essential to ensure your mortgage includes the necessary prepayment features. If your mortgage contract doesn’t facilitate lump sum prepayments, you will be restricted from paying down your mortgage more than what is allowed.

Some lenders allow for 20 per cent annually, others as low as five per cent. Shopping around from the getgo helps to avoid such situations, while saving you more money in the long run.

A final reason to shop around is that some prospective buyers get turned down by their bank, and they assume they won’t get pre-approved elsewhere. Many lenders and lender

types have differing qualification standards, so people who may have been turned down in the past, can still realize their homebuying dreams.

There are two options when it comes to shopping around for a mortgage. One way to do this is by going from lender to lender and comparing options on your own.

Although this isn’t a bad idea, it can be incredibly time consuming and tedious, because you’ll need to resubmit your information and have your credit pulled each time you meet with a new lender.

Instead of going through this hassle, contract a mortgage company such as Homewise, which works with multiple lenders. We work with banks, credit unions and monoline lenders, and are able to search for the best options based on your unique situation. Going this route, you’ll work with a dedicated advisor who can help you uncover various mortgage options based on your needs and understand the specific rates and features available, guiding you through to approval and move-in.

And, importantly, they will pull your credit report only once.

At the end of the day, finding a mortgage doesn’t have to be complicated. When you take the time to shop around and partner with the right company, the door opens to a host of advantages that can save you time and a lot of money, while helping you secure the right mortgage for today and into the future.

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

+MORE CONTENT ONLINE nexthome.ca

30 condolife magazine | June 5–July 3, 2021

ADVICE | HomE REAlty

NON-EXISTENT EXODUS TORONTO WILL ALWAYS BE A PRIZED RESIDENTIAL DESTINATION

DEBBIE COSIC

I’m sure you’ve heard about the ongoing pandemic-driven exodus of Toronto residents, looking to the 905 areas to find larger work-fromhome residences. At In2ition Realty, we see some pull to cities such as Pickering and Oakville, what we call 18-hour cities, versus the 24-hour city of Toronto. But it’s not an exodus.

In fact, it’s the opposite – especially now that the average price of homes in the 905 has surpassed that of the 416 area.

CREA statistics showed that in April, the average price in the 905 was $1.08 million, and in the 416 area $1.02 million. As the vaccinated work world opens up again and commuting resumes, people are looking at the suburbs thinking – do I really want to pay $60,000 more for a home and then drive an hour or two to work in Toronto?

Torontonians are deciding to stay where they are and enjoy the urban lifestyle. We also see buyers who want

to live in Toronto but can’t afford a large home or condo, so instead opt for a 500- or 600-sq.-ft. suite for now. They know they can move up when they gain equity. These may also be second residences for those who live out of town. It gives them a pied-à-terre when they want urban life, and it’s a great investment for their financial portfolio. The result is that the Toronto condo market is still hot. One example is Dylan Condos at Lawrence and Glencairn Avenues in Toronto, which launched recently and sold quickly.

Right now, 25- to 35-year-old Millennials represent up to 65 per cent of all real estate transactions – a huge driver for sales in the city.

These buyers appreciate not having to own a vehicle. They want a “lighter” lifestyle than their parents, so they don’t want the white elephant of a house. They are trading the dream of owning a lowrise home for doing other things. Toronto has the life and vibrancy they want.

The other side of the coin is emptynesters who have lived in the suburbs all their lives. Now that the kids are grown, they may choose to own a condo in one of Toronto’s great

neighbourhoods, and then maybe a smaller place elsewhere. Think the Niagara Region, Prince Edward County, or even Blue Mountain and Collingwood, where values have doubled in the past year.

Another case for staying in or moving to Toronto is the fact that city workplaces are poised to open again. Although I believe companies may maintain flexibility about working from home, I see them having employees come back to the office, even for a couple days each week.

In our company, our colleagues are excited by that prospect, because they miss the energy and collective brain power of interacting in person.

When immigration reopens, Toronto’s population will soar.

Immigrants usually seek out large urban centres, where they know they will find work opportunities. And Toronto was just ranked the fastestgrowing financial centre in North America when it comes to attracting finance sector workers.

The point is, we will come out of the pandemic way of thinking.

Toronto has always been, and will continue to be, a residential destination magnet.

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

+mOrE CONTENT ONLINE nexthome.ca Dylan Condos

nexthome.ca | myhomepage.ca 31

NeIghbOurhOOd wATCh

ETOBICOKE UNDERGOING MASSIVE REDEVELOPMENT

by WAYNE KARL In real estate terms, an area in transition is a good thing, since it generally refers to progress, development and things being on the upswing.

Etobicoke is just one of those areas.

Really? Etobicoke, that large, narrow north-south swath that 32 condolife magazine | June 5–July 3, 2021

stretches from Lake Ontario up to Steeles Ave., and shouldered

by Humber River on the east and Etobicoke Creek on the west?

With large, well established and affluent neighbourhoods?

Yes, one and the same – the west end locale with the funny name

people often mispronounce (FYI the K is silent) – that wasn’t exactly in need of an upgrade.

Blessed with a natural location close to downtown Toronto, easy access to the QEW and Hwys. 401, 427 and 27, the Bloor subway line and several major TTC and GO Transit

“

To support future development in the area, the City is spending tens of millions of dollars to modernize the road and surrounding infrastructure. hubs, Etobicoke has long been a sought-after residential location.

North Etobicoke, for its easy highway access, plethora of commercial ventures and lower priced real estate. Etobicoke Centre, for its proximity to the Islington-City Centre West central business district, and exclusive neighbourhoods with large, treed properties such as the Kingsway. And South Etobicoke, or Etobicoke Lakeshore, for its prime lakefront location and areas such as Humber Bay and Mystic Pointe. sOuTherN surge

But when it comes to new condo development and buying opportunities, it’s all about the south.

Well, mostly the south, until recently.

Etobicoke Lakeshore was the first to transition, with the former motel strip at Lakeshore and Park Lawn giving way over the last several years to dozens of new projects. Today it is one of Toronto’s hottest new condo destinations. Your location here is right on Lake Ontario, with outstanding views of downtown Toronto, along the Martin Goodman Trail for cycling and running, and close to the Gardiner to commute into the city and to the QEW to head west. TTC bus and streetcar service is quite literally at your front door.

The area could get another massive boost if a proposed redevelopment of the former Christie’s bakery site at Lake Shore and Park Lawn goes ahead.

Owner First Capital Realty’s plan for the 28-acre site – known, at least temporarily, as 2150 Lake Shore – calls for 15 new residential and office towers, from 22 to 71 storeys, new parks and public spaces and employment.

Now the condo boom is spreading north, into the central part of

”

Etobicoke with new developments along Dundas St. W. between Islington and the 427, and several more planned for the south side of Dundas just west of Kipling subway.

New condos are also springing up along the 427 near Burnhamthorpe, appealing to those who prefer highway access over transit.

A little further west, the Cloverdale Mall neighbourhood may get a major facelift in the next few years, as QuadReal Property Group is proposing a comprehensive masterplan to redevelop the existing 32acre mall property into an innovative and dynamic mixed-use urban community. The proposal involves transitioning Cloverdale with a reenvisioned retail offering, residences, parkland and greenspace, community uses and new streets.

The Queensway is also seeing its fair share of redevelopment. Long a spotty mix of older commercial and residential pockets, the area is seeing a number of new condos taking root. uNder CONsTruCTION

Indeed, construction will also be the order of the day in Etobicoke Centre.

For years. Six Points intersection, known locally as “Spaghetti Junction,” has been a complicated interchange where Kipling, Bloor and Dundas all intersect. To support future development in the area, the City is spending tens of millions of dollars to modernize the road and surrounding infrastructure. Plans include improved pedestrian and cycle access, wider sidewalks, more trees, street furniture and improved access to Kipling subway. The station itself is was recently expanded into a regional transit hub to link the TTC with GO Transit trains and buses, as well as Mississauga Mi-Way bus lines.

+ LOCATION, LOCATION, LOCATION Bordered on the south by Lake Ontario, on the east by the Humber River, on the west by Etobicoke Creek and Mississauga, and on the north by Steeles Ave. W.; population 365,143.

Key LANdmArKs • Centennial Park • Etobicoke Waterfront • Humber River • Sherway Gardens • The Old Mill seLeCT CONdO deveLOpmeNTs 293 The KINgswAy

By Benvenuto Group benvenutogroup.com 933 The QueeNswAy CONdOs

By Mattamy Homes mattamyhomes.com 1325 The QueeNswAy CONdOs

By Tribute Communities tributecommunities.com 2150 LAKeshOre

By First Capital Realty fcr.ca Cypress AT pINNACLe eTObICOKe

By Pinnacle International pinnacleinternational.ca grANd CeNTrAL mImICO

By Vandyk Properties vandyk.com reINA

By Urban Capital urbancapital.ca ThIrTy sIx ZOrrA

By Altree Developments altreedevelopments.com wesTerLy

By Tridel tridel.com

nexthome.ca | myhomepage.ca 33

ADVICE | REAL INSIGHT

JOURNEY TO BUYING

YOUR FIRST HOME lISa paTel

Buying your first home is an experience you won’t forget. It will likely be the largest and most important financial decision you’ll ever make. One thing is certain – you don’t need to be alone on this buying journey. By working with a TRREB member realtor, you can be sure that you’ll find a place you can call home.

After being pre-approved for a mortgage, your real estate professional will walk you through the first step you’ll take as you househunt together – discussing your must-haves. This step is all about ensuring you find a home that is right for you. They’ll be on hand to have an open conversation about your preferred neighbourhoods, what communities will offer you a short trek to a subway or bus stop, and anything in between, such as parks, shops and restaurants.

And when you attend a showing, it will help you envision yourself in a home. Although showings are strongly recommended to be held virtually, there are so many ways you can connect with your TRREB realtor.

34 condolife magazine | June 5–July 3, 2021

Whether it’s a video call or sharing photos, you’ll have what you need to picture yourself in this space.

Once your realtor has found a home that meets your must-haves, and it’s time to make an offer. Signing your name on the dotted line is both an exciting and stressful part of the home buying process. Rest assured, your real estate professional will be by your side to let you know what you’re signing, what it means if your offer is accepted and how to avoid buyer’s remorse. You can also be sure that plan B is following closely behind, if your offer isn’t accepted.

As a first-time buyer, you’ll need to know about the minimum five per cent down payment and how it impacts you. And, if you aren’t sure how much of a down payment you’ll need, your realtor can connect you with a mortgage broker or bank that can advise you on the amount you’ll require based on the purchase price.

And let’s not forget about incentives and rebates that can help you save money as a first-time buyer.

There’s four that you can ask your realtor about if you’re purchasing a resale home.

If you have enough funds in a Registered Retirement Savings Plan (RRSP) and need tax-free support for a down payment, you can apply for the RRSP first-time Home Buyers’ Plan.

There’s also the First-Time Home Buyer Incentive that could help you reduce your monthly mortgage payments. If you’re wondering if you’re eligible, your realtor can help you. And, finally, the land transfer tax rebate. When it’s time for closing, you’ll learn how much you owe in taxes. Since this is your first time around in the homeownership world, there’s a special tax credit to help you save on closing costs.

Lastly, if you have questions that are unique to your buying situation, the resources TRREB member realtors can offer are endless, and they’ll be able to point you in the right direction. So, get started and discover how buying your first home can be worry-free with a trusted realtor. Visit trreb.ca to start house hunting and learn more about first-time buyer incentives and rebates.

Lisa Patel, TRREB President and realtor, is an entrepreneur and strong community leader who has served with many organizations and groups, including chairing TRREB’s Women in Real Estate Task Force. trreb.ca

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ADVICE | LEGALLY SPEAKING

WHAT YOU NEED TO KNOW ABOUT ADJUSTMENTS ON NEW HOME CLOSINGS JAYSON SCHWARZ, LLM & HAMZA AHMAD, JD If you think the price is the only amount you will be paying your builder upon closing your new-home purchase, you should read the fine print of your contract. Or, better yet, have a real estate lawyer review it for you.

INTERIM OCCUPANCY CLOSINGS

Before the final closing for a condominium, there will be an interim occupancy, where your unit is ready for occupancy, but minor construction in the building is still ongoing and the condominium is not yet registered – meaning there is no legal title for your unit that can be transferred to you.

During the interim occupancy phase, you can move into the unit without paying the balance of your purchase price, but you will pay a monthly occupancy fee. Under the framework of Ontario’s Condominium Act, the occupancy fee is comprised of: • Interest on the unpaid balance of your purchase price; • An estimated amount of property taxes; and • Estimated condo fees.

While many believe that an occupancy fee is another way for developers to extract more money from buyers, builders should not profit from occupancy closings.

ADJUSTMENTS ON CLOSING

Whether freehold or condominium, your builder can charge you for several

adjustments on final closing. These costs, which will be presented in a document called the Statement of Adjustments, will range from water and hydro connection fees, new home warranty enrollment fees, to fees for tree planting, driveway paving and development levies.

Development levies can be the most unpredictable, as they can range from hundreds to tens of thousands of dollars, unless the builder agreed to limit them to a specific amount during the negotiation phase of the agreement.

Every new home offer has an adjustment section in the Agreement of Purchase and Sale, and the adjustments are set out, usually in broad strokes or without a specific number attached. Adjustments are supposed to be delineated in the Tarion Addendum, but it never seems to quite happen that way.

As the purchaser, the onus is on you to insist that your adjustments are spelled out. There is nothing worse than coming to closing and being, for example, $4,000 short. No one needs that kind of last-minute pressure when you have a couple of days to close, and you find out you do not have enough money.

POST-CLOSING ADJUSTMENTS

The final closing does not necessarily signify the end of adjustments between a builder and purchaser, because there may be readjustments to some charges well after closing.

If your property has a yard, builders often charge a grading deposit. Often around $1,500, this is money the builder will hold until the municipality

assumes responsibility for your subdivision and confirms that the grading on your property complies with the municipality’s approved plans. It may take years for municipal assumption, and once that is done, you may contact the builder to get a return of your deposit. Don’t forget this important step.

Another major adjustment which you will need to follow up on is municipal property taxes. The builder may charge you for an estimated amount of property taxes because your property has not yet been assessed, and taxes are being paid at the vacant land rate. After closing, you will receive a supplementary tax bill, indicating the new assessed amount of taxes for your property. Usually, you will be able to present the new tax bill to your builder and have them readjust for property taxes, since the builder has to pay taxes proportional to their ownership of the property. In most cases, the assessment will mean the builder will pay you back for a portion of your supplementary tax bill.

Don’t forget!

The most important thing to understand is – know what it will cost to close. The best way to do that is to understand your adjustments when you get into the deal.

Jayson Schwarz, LLM, is senior partner, and Hamza Ahmad, JD, is an associate at Schwarz Law Partners LLP, a real estate and business law firm. schwarzlaw.ca, info@schwarzlaw.ca

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In conversatIon wIth...

ANSON KWOK VICE-PRESIDENT, SALES & MARKETING PINNACLE INTERNATIONAL

By WAyNE KARL

For those involved in new condo development in Toronto, one of the plumb assignments has to be managing the marketing and sales of one of the highest profile signature projects in the city – Pinnacle One Yonge. Coming to life and rising into the sky at One Yonge Street, home of the landmark Toronto Star building, this master-planned development is future home to three residential towers, beginning with the 95-storey SkyTower, and a host of other noteworthy community amenities.

For Anson Kwok, vice-president of sales and marketing for Pinnacle International, it’s but one of many notable projects he has the pleasure of working on every day.

We spoke to Kwok for his insights into this and other developments, and what the pandemic has meant for family life.

In our outlook 2021 feature, you mentioned Pinnacle had a strong 2020, and that you were excited about 2021 for similar reasons. here we are about six months later… how has your outlook for this year changed, if at all?

My outlook has held true from the beginning of the year. Sales have been strong. We have occupied Perla in Mississauga and are on schedule to move-in PJ and Cypress in the next couple of months. We also started construction on two projects in the first quarter of 2021 – our Pinnacle Toronto East development, as well as SkyTower at Pinnacle One Yonge.

You said at the time you were seeing greater demand for family-

36 condolife magazine | June 5–July 3, 2021

sized condos, driven by the workfrom-home trend, affordability challenges with lowrise homes and other factors. how is all that trending now?

We are definitely seeing more purchases of larger condo units in our projects, empty-nesters looking to downsize and those living in condos upsizing to family-friendly units.

We are also seeing more extended families purchase multiple units in

the same building to be in proximity to each other. I believe this trend will continue, as it provides families options to better suit their needs, find multiple homes around one location, and it also offers flexibility if situations change. one clear trend to emerge during the pandemic is people looking for larger homes and more space, even it if means leaving the city.

Pinnacle is a developer of highrise

condos in the city. how is this affecting things for Pinnacle?

We have always developed in locations that are attractive and have consistently been developers of larger layouts, especially threebedroom units. It is no surprise to us that both our preconstruction communities, and even the resale market of our communities, have seen people upsize their units. We have seen pick-up in both Toronto and Mississauga. what else have you noticed about buyers or the homebuying industry during the pandemic, that may require a slight pivot or other changes… be it buying preferences, locations, suite sizes, sales methods…

The pandemic made everyone take a pause and reflect on where they were living. At the end of the day, location and layouts are still paramount. This will continue to be our focus.

Many of your projects are of the luxury variety and in prized locations in the city. how much of that is a differentiating factor for Pinnacle, and for those looking for that type of housing?

Great locations are definitely a differentiating factor for Pinnacle, and building master-planned communities for people and families to grow over time, should also be noted.

The Prestige at Pinnacle One Yonge

Pinnacle one Yonge is one of Pinnacle’s – and the city’s – signature condo developments. how are things coming along there, and what opportunities remain for prospective buyers?

Since 2012, we’ve been working on Pinnacle One Yonge, and like all master-planned communities, there have been many renditions and there has been tremendous evolution. We could not be more excited about this community. We take great pride in this important site for the city, and

we are just getting started in making this a reality. The inaugural tower, Prestige, has risen above the 50th floor now and will take occupancy in May 2022. The excavation of SkyTower has gone well, and we are just about to install the cranes for SkyTower to start pouring concrete.

There are still a variety of opportunities for prospective buyers in Prestige, SkyTower and the future residential phase at Pinnacle One Yonge.

that multi-tower project in a prime location will keep you busy for years. how cool is it to be involved in redeveloping such a notable location in the city? Lots of eyes are on that development…

Pinnacle One Yonge will definitely keep our team busy for a good while, and over the next five-plus years, the construction of our residential and office components will truly change the skyline of Toronto.

nexthome.ca | myhomepage.ca 37

what can you tell us about Pinnacle one Yonge that maybe hasn’t been revealed yet, or that hasn’t been duly cited? something would-be buyers should really take note of…

The unique scale of the development can be a lot to take in. We are building a 50,000-sq.-ft. community centre for the City of Toronto, which includes a six-lane swimming pool and gymnasium. We have three residential towers in the community, with more than 80,000 sq. ft. of indoor and outdoor residential amenities, including our own dog run and walking track. There will be two hotels on the site, more than one million sq. ft. of office space and more than 150,000 sq. ft. of retail space. now, you’ve got another new project, Gemma, coming to Mississauga. can you give us all the details on that – location, dates, signature features and amenities, price points and anything else…?

In the next couple of months, we will be releasing Gemma, the next phase of our Pinnacle Uptown Community of Mississauga, following our successful twin towers of Crystal, Amber and Perla. what else you can share about Pinnacle or upcoming projects that maybe hasn’t been publicly released yet?

Perla Towers, Mississauga

We will be moving in our first building, Cypress at our Pinnacle Etobicoke community, this fall and will be releasing the next phase of the

development. There will be a total of nine buildings at Pinnacle Etobicoke. pinnacleinternational.ca

on a personal note how have you been coping during the pandemic? Picked up any new hobbies or perfected any certain skills?

When the pandemic hit, we were just moving my eldest son to a new room, and working on the nursery to wait for his younger brother to arrive. Our second son arrived in mid-April 2020, so we have spent the past year transitioning to parents of two. It’s been wonderful having the opportunity to spend time with my family, and not packing our calendars full of activities, and simply enjoying watching the kids grow. what’s the first thing you’re going to do when things return to “normal”?

I cannot wait to travel and introduce my son to the rest of the family, especially my parents, who have been waiting very patiently in Vancouver. For our eldest son, they met him within days of his birth, and now my youngest is already walking. what’s on your reading list these days?

Sadly, I haven’t had a reading list for a while. Been spending most evenings binge-watching something funny.

38 condolife magazine | June 5–July 3, 2021

ADVICE | ConDo pro

THE WISDOM OF BUYING A NEW HOME OR CONDO

BARBARA lAwlOR

Homes and condominiums are selling like hotcakes nowadays. From potential purchasers of resale fixeruppers to brand new penthouses and everything in-between, there are shoppers out there looking for their perfect match. If you live in Toronto or the GTA, consider buying a new home or condo because of the many advantages that go along with it.

Location, location, location guides most buyers’ must-have lists.

Nowadays, new-home builders and developers are selecting properties that are close to amenities. Many are near to, or even on, public transportation routes. As we emerge from the pandemic and people return to their workplaces, this adds to the appeal of buying new.

New condos include coverage

by Ontario’s Tarion Warranty Corp. (tarion.com), which offers one-, two- and seven-year coverages, depending on the type of defect.

The organization protects the rights of new-home buyers and regulates builders by administering the Ontario New Home Warranties Plan Act. However, today’s new builds must also adhere to the Ontario Building Code, which is continually upgraded to ensure high quality. This means a lot. Looking at it from an overall viewpoint, consider how much resale purchasers often have to spend to bring their fixer-uppers up to their personal standards.

Buying new also means you enjoy the latest in architecture, design and building techniques. Over the decades, builders and developers

The Hillmont

have evolved to ensure they make the most of each residence’s square footage. They also create beautiful exteriors that evoke specific character. Traditional, contemporary, modern, avant-garde – the choices are stunning. It is up to you which of the homes and condos available speak to your aesthetic sensibility.

Unless you purchase an inventory unit in a new building or community, you have a few years before occupancy to save toward your down payment. This also allows you time to figure out what furnishings and other items you can keep or need to buy for your new digs. A nice bonus that comes along with this wait time is that you will likely earn some equity even before you move in.

When you purchase early enough in the selling cycle for new residences, you get to select the features and finishes that will transform your house or condo into your “home.” Today’s choices are incredibly beautiful and well made.

You can pick and choose the finishes that reflect your personality.

A new home or condo is a terrific investment, whether you choose to

live in your purchase or rent it out as part of your financial portfolio. Real estate is a real investment, unlike stocks and mutual funds. More than figures recorded on paper or online, a home or condo is something you can touch and understand more easily.

Look at how values have increased over the decades. Whoever thought the average sale price for a home in Toronto would exceed $1 million?

Last, but not least, like slipping into a brand-new car, when you move into your new home or condo suite, you have that wonderful neverbeen-used smell. There is nothing like having pristine, freshy painted surroundings that are as functional as they are beautiful!

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

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BUILDER PROFILE | FONTHILL

THE ONE FONTHILL CONDOMINIUM COLLECTION MOUNTAINVIEW BRINGS SOPHISTICATED CONDO LIVING TO THE HEART OF NIAGARA Meet the One Fonthill Condominium Collection, where elegance and luxury meet carefree rural living. It’s the place where you’ll experience the tranquility of small-town life within easy reach of the city. Where your suite is the perfect reflection of you. Where you can make your dream lifestyle an everyday reality.

One Fonthill is a collection of three luxury lowrise condominiums designed to offer the best in condo living. One Eighteen, the second phase, is coming soon, and will offer an incredible collection of luxury suites across four storeys, with various floorplans to choose from, created for comfortable, 40 condolife magazine | June 5–July 3, 2021

modern living. With open-concept designs, chef kitchens, spacious living areas, and top-of-the-line finishes, you’ll never want to leave home.

The exterior is just as impressive, with clean lines, modern wood siding, and sleek shades of grey.

Shared amenities include an elegant lobby, private party room, and secure underground parking garage.

Enjoy maintenance-free living at its best in a beautiful, walkable neighbourhood surrounded by shops, restaurants, trails, Fonthill’s newest community centre, and more.

Fonthill is part of the Town of Pelham, and has quickly become one of the most coveted communities in

the Niagara Region. It’s everything you could want from a charming small town, just minutes from all the big-city amenities. The community is ideally situated just a short drive from Toronto and Buffalo, and within easy reach of Niagara Falls, several stunning golf courses, and a multitude of award-winning wineries. Nature lovers will appreciate Fonthill’s dedication to conservation and wealth of outdoor spaces and trails to explore, while foodies will revel in the many restaurants lining the streets around Peace Park.

Surrounded by orchards and the beautiful escarpment, and in proximity to Niagara’s best wineries,

A mEssAgE FROm mOUNTAINvIEw BUILDINg gROUP: HOw wE’vE ADAPTED IN THE TImE OF COvID

Fonthill is where others come to vacation – but where you live.

Mountainview Building Group has strong roots in the Niagara Region, and has spent more than four decades creating innovative communities in the area. Mountainview is widely recognized as a leader in new home construction and has received numerous accolades for its work, including the coveted Diamond Avid Award, recognizing builders that provide an extraordinary homebuying experience. It’s the company’s commitment to customer service that makes this possible – and that draws residents from Niagara and beyond to choose a Mountainview community to start living their best life.

Register for the latest updates, releases and news at mountainview.com | 905.323.6243 onefonthill@mountainview.com

The COVID-19 pandemic has hit hard, and nearly every industry has had to make changes, pivot and adapt. Mountainview Building Group is certainly no exception.

As an essential service, continuing to deliver homes to our homeowners through COVID-19 meant making some adjustments to how we work, communicate and build. Together, we quickly discovered a new normal for working safely – protecting ourselves, colleagues, homebuyers, our families, and continuing to build dream homes for our Mountainview families.

With so many changes, the one thing we are happy to say has not changed is the homebuying process. Mountainview is still here for you, still providing exceptional service and building quality homes – the steps just look a little different now. We have introduced new technologies that benefit the purchaser, making the homebuying, building and servicing

procedures safe, yet also efficient – including virtual model home tours, virtual meetings, e-documents and e-transfers, to name a few. Our priority is and has always been, to create an exceptional experience for our customers, and we are continuing to adapt our protocols as government requirements change and evolve, so this is always achieved.

At Mountainview, our commitment to excellence has remained a top priority. Although our interactions with our customers look a little different, we’re as committed as ever to providing homebuyers with the best buying and building experience – it’s just done virtually now.

While these new changes are necessary right now, of course, we’re also excited to welcome everyone back in person when the time comes.

Rest assured, when we can once again open our doors and invite customers into the Mountainview Building Group offices and model homes, we’ll continue to have protocols in place to keep everyone safe.

Until then, stay safe. We look forward to seeing you again soon!

The Mountainview Team

nexthome.ca | myhomepage.ca 41

ADVICE | THE MARKETING EDGE

THREE THINGS INDIE ROCK TAUGHT ME ABOUT ADVERTISING

GEOFF McOUAT

Every good creative person has a past, something they did before they got into advertising that gives them perspective, insight, and hopefully an understanding of the human condition.

I was in an indie band, successful enough that the Junos asked us to represent our decade for their 40th anniversary. But when I left the band and stopped trying to be a rock star, I started working with session players supporting other people, and it changed my perspective on my role as a creative person.

A NOTE FOR AGENCIES: BE A GREAT SESSION PLAYER IN SUPPORT OF THE STAR

An ad agency has to be a chameleon.

Like a session musician, they need a broad enough skill set to adapt their style to play exactly what’s needed for each individual client. And you can’t do that if you have a limited bag of tricks.

So, there I was working on a project with some great session musicians and in the first few minutes I learned that doing one thing well isn’t nearly enough. Sure, I could play, but these guys had made records with genuine rock stars such as George Harrison, Robert Palmer, The Who, Bryan Ferry, and Peter Frampton. That meant they could switch styles, rhythms and keys without missing a beat, or turn a song inside out until it was great.

It was a different way of looking at the creative process. It wasn’t about expressing your voice, it was about 42 condolife magazine | June 5–July 3, 2021

helping someone else express theirs.

As agencies, we’re here to help make stars out of each builder we work with. Every client is unique, and every place we draw people to has its own character. When they start looking alike, even slightly, that’s a problem. Because it’s hard to chart with a new song that sounds like last month’s hit.

FOR CREATIVES: NEVER LET TECHNIQUE GET IN THE WAY OF CREATIVITY

Your design training taught you professional skills, and you’ve honed them through repetition.

But your creativity is something deeper and fundamentally more important. It’s what sparked your desire to make things, to imagine things that could be.

Design and creativity are two different things, though that can be easy to forget when you’re on a deadline. One has rules. It’s rigid and specific with generally accepted principles that guide the process. The other is the opposite. It’s childlike, new and individual. It’s a way of thinking where rules are to be broken, bent or inverted. Sometimes, the two can even be at odds when the process of design takes over with its focus on balance, form, colour, rhythm, space and all of the principles that define and limit your creativity.

How do you keep that spark alive, project after project, year after year?

Stay curious. Not casually curious, be committed to curiosity. Make it a central part of who you are. Stay childlike. Pretend you’re the person your work is talking to. Get into the mind of the person who will live there.

Stay brash. Learn the rules of course,

then break them just the right amount.

And do it every day. Learn, watch and listen – really listen – and then imagine what could be, but isn’t. Yet. FOR CLIENTS: IF YOUR PRODUCER MAKES YOU SOUND LIKE SOMEONE ELSE, GET A NEW PRODUCER

You’re the star under the spotlight.

And, if you’re like most clients, you’re willing to put in the effort to stand out. But our business starts and ends with the people who buy homes, so if you want your message to be a hit with the public, don’t sound like some other band. Create an identity that is a deep and true reflection of what makes your company unlike any other in the industry.

It takes self-awareness and perspective and a close partnership with your agency. There is only one company exactly like yours. Define the characteristics and differences that are at the heart of your brand, bring the essence of your story to the forefront and create something individual. Your brand should be bespoke, not off the rack.

So, commit to being individual.

Commit to being noticeably different.

And never, ever let your brand’s voice sound like someone else’s. You deserve to be front and centre in the mix. And when the mix is right, it never hurts to add a little more cowbell.

Geoff McOuat is Creative Director, Brand Identity Consultant and Principal at McOuat Partnership, Toronto. mcouatpartnership.com

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INTERIORS

neuefloors.com Builder: Upside Developments

IN THIS SECTION:

TRENDING | DECOR | STYLE nexthome.ca | myhomepage.ca 43

INSPIRATION |

decor

BERTAZZONI

appliances THE NEW WORLD OF

KITCHEN

by LINDA MAZUR

We have seen a surge in home renovations this past year, and one of the primary spaces getting all the attention is the kitchen. The kitchen, for so many of us, is the heart of the home, a place to start the day and to gather at night over a meal to spend some quality time together.

At this point in the year, much has been written about the current kitchen trends moving forward. We see a modern, refined rustic trend, two-toned kitchen cabinetry, bold colours, beautiful artisanal tiles, natural wood features, mixed metals, the all-white kitchen, black cabinetry, decked-out pantries, vintage-inspired and the ceiling becoming a place of interest… to name a few. While all these trends inspire and excite our 44 condolife magazine | June 5–July 3, 2021

creativity, we must wonder: Is there anything new happening with kitchen appliances?

In an area that doesn’t necessarily see an abundance of frequent trend changes, appliances are quickly become the hot thing in kitchen design. With a resurgence of vintageinspired appliance designs, an array of colours, sleek and modern finishes, mixed metals, smart-home tech, and – my personal favourite – the “new white,” appliances are not only a necessity but also an inspiration when it comes to designing a kitchen.

With so much available on the market today, it’s difficult to share all the exciting looks and functions.

We see modern glass fronts, matte black stainless, personalized colours

and even companies that will custom print the fronts of appliances with a bold selection of patterns. Integrated appliances are a wise choice in many kitchen designs, allowing you to conceal your refrigerator, range hood and dishwasher for a streamlined and uninterrupted look. Appliances converted to drawers has grown in popularity in recent years. From dishwasher drawers, such as the one shown from Fisher & Paykel, to microwave drawers, refrigerated vegetable drawers, to beverage drawers which are a great and convenient add-on to a coffee station or kitchen island.

Another fast-growing trend in kitchen appliances is the steam oven.

With all of us becoming increasingly

KITCHEN AID

FISHER & PAYKEL

KITCHEN AID

health conscious, as well as cooking at home much more this past year, the popularity of steam ovens is on the rise. They keep more nutrients in your food and eliminate the need for oils.

The interesting thing with steaming your food is that it also prevents “cross-flavouring;” basically, you can cook fish and desserts at the same time without blending the flavours – a great time-saver these days.

Wine fridges are as popular as ever, expanding their look as well as designs. From integrated, fullsized fridges to custom fronts, single undercounter columns to wine drawers with glass fronts that are integrated with your main refrigerator, such as the new Bosch 800 series; wine storage has come a long way in recent years, and is no longer just a luxury in the kitchen.

In mentioning Bosch fridges, it’s worth discussing another new feature the company has introduced in

some of its models – the filtering of ethylene in crisper drawers. Ethylene is a natural plant hormone that fruits off-gas. It promotes ripening and leaf drop, which is why it’s always a good idea to keep fruits and veggies in separate drawers to promote longevity. Being able to filter out ethylene, as well as other unwanted gasses from your refrigerator, you can minimize odours and keep your food fresh and healthy longer.

We have only touched the surface of what is happening in the design and technology of kitchen appliances.

While the look of the appliances alone can make an exciting and strong statement in your kitchen, what is happening in technology and design can equally make a strong statement in how you live and function in this important space. There is so much more happening in the world of appliances beyond smart technology.

When you’re shopping for your

FISHER & PAYKEL

new kitchen appliances, take a good look at all the new emerging styles and features. You may be surprised at what you will end up bringing home.

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 multidisciplinary design firm is known for creating relaxed, stylish spaces and full-scale design builds within Toronto, the GTA and throughout Canada. lindamazurdesign.com @LindaMazurGroup

nexthome.ca | myhomepage.ca 45

INSPIRATION |

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CITRUS BRANCHES PILLOW in tiger lilly, BROKEN STRIPE PILLOWS in tiger lilly and multi-colour, MINI FLANGE PILLOW in sunflower by Oui. $39 each. indigo.ca

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INSPIRATION |

home finds

The traditional picnic basket is modernized with this adorable cotton picnic basket tote from Oui. The roomy tote holds all your food, along with four plates, cups, forks, and spoons, which are all included $69. indigo.ca

Roll up This multi-functional bar cart is the perfect outdoor entertaining accessory Barbie poolside collection outdoor BAR CART in aluminum grey by Novogratz. $237. rona.ca

Tie-dye outside

1

The tie-dye trend has been popular in fashion this year, and now it can be seen in outdoor decor, too 1. Tie-dye decorative PILLOW. $23. bouclair.com 2. Zoe ceramic SIDE TABLE. $239-$477. westelm.ca 3. Blue watercolour melamine DINNER PLATE. $6. homesense.ca

48 condolife magazine | June 5–July 3, 2021

2 3

Neutral territory

1

Let the greenery in your space really pop by decorating your outdoor area in neutral colours such as black, white and grey. For an extra special touch, choose a bold pattern to incorporate in the same palette

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1. Moonstone 12-piece DINNERWARE SET. $60. Arizona TABLE RUNNER. $20. Minuit red WINE GLASSES. $7. Fjord FLATWARE SET. $30. stokesstores.com 2. Glass Edison LIGHTS by Hometrends. $20. walmart.ca | 3. Skyler three-piece rope wicker CHAT SET by Hometrends. $268. walmart.ca 4. Eclipse black and white stripe UMBRELLA with base. $999. cb2.ca

nexthome.ca | myhomepage.ca 49

INSPIRATION |

big style, small spaces

Spring & Summer

decor

IDEAS TO FRESHEN UP YOUR HOME

T

he best way to usher in a new season is by giving your home a mini-makeover. It doesn’t require any major DIY projects or renovations. Just a few upgrades with accessories, colour and new dishware

50 condolife magazine | June 5–July 3, 2021

by LISA ROGERS can really elevate your space and bring that feeling of spring indoors.

GROUP YOUR BLOOMS

I do this, without fail, every spring season. I either clip a bunch of flowers from my own backyard or I go to my florist and buy some

in-season tulips or daffodils. Then, I bundle the flowers in a number of small vases (as opposed to putting them in one big vase) and scatter them throughout my home.

Alternatively, I line them up across my mantle or dining room table. It’s such a stunning display!

POPS OF COLOUR

Bring colour to your bedroom by mixing in new blankets, throw pillows, vases and catch-all trays in a springappropriate hue. You might even want to change a picture or two on the wall for a different feel to the room.

FLORAL WALLPAPER

Floral and garden-inspired wallpapers have been gaining momentum for a couple of years now, and I think they work wonders in a small powder room or as an accent wall in your bedroom or dining area. And now, with so many DIY wallpapers available, you don’t have to commit to papering your walls permanently.

You can have fun with it seasonally.

trying it yourself, there’s an easy guide on hgtv.com that could help.

TWO-TONE CABINETS

If you have been following me on Instagram, you know I’m enthralled by this new trend in home decor – two-tone cabinets. I particularly love the look in the kitchen when you paint just the lower cabinets in a bold colour while keeping the rest of your palette neutral. If you’re considering

BOLD ACCENT RUG

Adding new colours, patterns and fun textures is a great (and easy) way to update your home decor to feel more spring-like. I love the idea of swapping out my rugs for something that’s multi-coloured; it adds that pop with very little effort.

COLOURFUL GLASSWARE

Coloured glasses are huge this year, and there are so many beautiful options out there at price points that are very affordable. Coloured glasses add visual interest to your table when entertaining, and there is something so joyful in sipping a favourite drink out of a bright glass. I found these vintage pink goblets (above) on Etsy and I love them.

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

Follow Lisa’s blog at craftedbylisa.ca

nexthome.ca | myhomepage.ca 51

h s e r f start

INSPIRATION |

trending

by SARA DUCK

SEVEN SUMMERY LOOKS TO LOVE

BIG CYPRESS COOL CURRENT

MISTY AQUA

TRANSCEND

Soft earthy paint palette

Light wood accents Monarch BED. $1,149. eq3.com Redonda wood upholstered DINING CHAIR. $579. crateandbarrel.ca Voxlov dining TABLE in light bamboo. $300. ikea.ca

COOL CURRENT 6199-42 by Sico. sico.ca TRANSCEND (DLX1079-4), BIG CYPRESS (DLX 1062-5), MISTY AQUA (DLX1147-3) by Dulux. dulux.ca

Coloured sofas DALU SOFA in hibiscus pink and oak. $1,149. article.com Fany tufted THREE-SEATER SOFA in yellow. $499. structube.com Morabo LOVESEAT in light green and wood. $600. ikea.ca

52 condolife magazine | June 5–July 3, 2021

Natural elements

Rudy VASE. $30. eltemkt.com Rattan PLANTER with wood stand. $35. homesense.ca Turquoise druzy KNOB. $20. cb2.ca

The hand-crafted look Linen throw PILLOW. $59. zarahome.ca Pink seagrass BASKET. $35. homesense.ca Stoneware SERVING BOWL. $15. hm.com

Delicate floral print Statement rugs Patterned COTTON RUG. $35. hm.com Colca WOOL RUG. $300-$1,800. westelm.ca OMA RUG. $500. article.com

Mini floral DUVET COVER. $99-$139. zarahome.ca nexthome.ca | myhomepage.ca 53

INSPIRATION |

product showcase

noteworthy

New &

YOUR PERSONAL BARISTA

Freshly ground, not capsuled, Jura is the leader in producing super-automatic specialty coffee machines. The new E8 is a modern refresh of Jura’s bestselling machine. With a touch of a button, prepare authentic and trendy coffee drinks such as espresso, latte macchiato, and flat white. Say hello to your personal barista.

FAEMA CANADA | faema.ca

Simplicity & beauty The kitchen is the focal point in every home, so why not make it the kitchen of your dreams? Installing quartz or natural stone also adds value and beauty. BMG specializes in countertops, whether it be quartz (Caesarstone or Hanstone) or natural stone (granite, marble, quartzite).

Nowadays, customers are looking for simplicity, beauty and maintenance-free products, which makes quartz a great choice for countertops.

Visit the showroom in Vaughan and view the vast selection of slabs available.

BEYOND MARBLE & GRANITE | beyondmarbleandgranite.com

FLEXIBILITY AT YOUR FINGERTIPS Bosch has taken the trendy, flexible temperature drawer to the next level with its new VitaFreshPRO technology. Precise cooling and humidity keeps food fresher—up to three times longer. Multiple temperature settings allow you flexibility in this spacious compartment—hermetically sealed from the rest of the refrigerator—this special drawer can be converted for all occasions. Fruits and vegetables, cheeses and deli, drinks, and fish and meat. Visit canadianappliance.ca for more details CANADIAN APPLIANCE SOURCE | canadianappliance.ca 54 condolife magazine | June 5–July 3, 2021

Simplicity & elegance A modern take on the traditional framed shower door! ELERA marries the classic pivoting design with the contemporary lines of a frameless door. This emerging trend will highlight any bathroom decor by showcasing its simplicity and elegance. What’s more, with a unique 90-degree In&Out pivoting system and magnetic closure, getting in and out of the shower is easy as one-two-swing! Available in Chrome, Brushed Nickel and Matte Black. Various size ranges available. FLEURCO | fleurco.com

SHADES OF GREY Introducing Bahia, inspired by the contrasting light and dark grey elements forged deep under the geological layers. Vicostone’s Quartz version is a popular choice for kitchen countertops and islands, benchtops, backsplash, bathroom vanities and more. Its desirable marble look makes it a unique design that will be the focal point of any project.

VICOSTONE | vicostone.ca

THE ULTIMATE MATTE BLACK ACCENT Discover amazing new design opportunities with the ultimate matte black accent for your kitchen. Introducing the VINTERA 30, a contemporary farmhouse sink in Coal Black, a brand new Silgranit colour. Featuring a slim 6.5-in. apron, generous nine-in bowl depth, and flushmount installation option, the VINTERA is both spacious and sleek. Its flat matte black colour and smooth silk matte feel are perfect for those who love bold, contemporary design.

BLANCO CANADA | blancocanada.com

nexthome.ca | myhomepage.ca 55

n u S INSPIRATION |

trend watch

1

DESERT

by SARA DUCK

9

Are you desperate to travel? I hear you. More than a year into this pandemic life, most of us have a serious case of wanderlust. One thing you can do to keep your favourite travel spot top of mind is to incorporate some of the destination’s quintessential looks into your home. Maybe it’s a set of black and white striped pillows a la Parisian chic or a vibrant Pendleton blanket reminiscent of the American Southwest – decor has the ability to transport you to a place you love. This season, I’m enjoying the vacay vibes of modern desert style. The modern desert look is inspired by an earthy palette – which feels so fresh after a long, dark winter, I can almost feel the desert sun. The look encompasses muted colours, paired with light wood accents, organic cacti shapes and a bold mix of patterns.

While most of us will be staycationing this summer, keep those travel dreams alive; soon, they will be a reality once again.

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1. Avila RUG. $1,050. westelm.ca | 2. Terracotta LAMP with jute lampshade terrazzo. $180. indigo.ca | 3. Jute colour blocked OUTDOOR POUF. $60. homesense.ca | 4. Witlie END TABLE. $399. mobilia.ca | 5. Batam footed TRAY. $40. tonicliving.ca | 6. Wood and leather BENCH. $599. zarahome.ca | 7. Mirror with rattan FRAME. $40. hm.com | 8. Dorado handwoven PILLOW. $64. cb2.ca | 9. Fejka artificial POTTED PLANT CACTUS. $22. ikea.ca 56 condolife magazine | June 5–July 3, 2021

CONDO PROFILES

Pinnacle Toronto Cypress

developer: style: size: prices from: features:

Toronto

PINNACLE INTERNATIONAL

Highrise Up to 1,145 sq. ft.

The mid $600,000s • Suites include 9’ ceilings, laminate flooring, quartz countertops • Suites with full size appliances • Amenities include: gym, yoga room, party room, kids play area and outdoor terrace contact: 416.596.1600 • info@PinnacleEtobicoke.ca location: 5475 Dundas St. West (west of Kipling)

Oro at Edge Towers

Mississauga

developer: SOLMAR DEVELOPMENT CORP style: Highrise size: Podium: 565-804 sq. ft.; Penthouse: approx. 2,000 sq. ft. features: • Podium suites: 1 (+den), 2 (+ den); penthouses: 3 (+den) on the 49th and 50th floors at Edge Tower 2 and ORO at Edge Towers • 24 hour concierge service.

• 9’ ceiling heights on floors 2-49; 10’ in penthouse units on 50th floor.

• Two party rooms with outdoor terraces, a state-ofthe-art gym, yoga studio, private movie theatre, games room, sports lounge, wifi lounge, and more.

• Steps from Square One and the only new condo community in Mississauga City Centre with direct access to the new LRT. contact: (905) 804-0592 location: 24 Elm Drive West, Mississauga, Ontario, L5B 1P9

MRKT Alexandra Park

developer: style: size: prices from: features:

Toronto

TRIDEL

Highrise from 623 to 1,235 sq. ft. $810,000 • New Release of 2 and 3 Bedroom Suites • Steps from Toronto’s Kensington Market, Queen West and Chinatown.

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

Y&S

developer: style: size: prices from: features:

Toronto

TRIBUTE COMMUNITIES

Highrise 585 to 1,226 sq. ft. $791,990 • Exquisite architecture, functional/luxurious interiors, and lavish amenities • 24/7 Concierge, fitness facility including cardio, weight rooms, yoga/stretch studio. Outdoor terrace, private dining, business and study lounges, guest suite and children’s playroom. 9’ ceilings in tower and 10’ ceilings in penthouse suites • Amazing shopping, restaurants, world-class transit access and incredible nature and recreation contact: 416-486-1660 or y&s@mytribute.ca location: Yonge + Soudan (south of Eglinton) nexthome.ca | myhomepage.ca 57

HOT PROPERTIES | GREATER TORONTO AREA

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MAPS

CARTOGRAPHY: MARKETMAPS.COM

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

nexthome.ca | myhomepage.ca 59

HOT PROPERTIES

FIND YOUR NEXT HOME

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

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

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CONTACT

Brampton..............................Urban Towndominiums .............................CTH........................ Mississauga Rd. & Wanless Dr. .............................. rosehavenhomes.com Etobicoke..............................Westerly ............................................................ HR ......................... Islington & Dundas............................................................................tridel.com Etobicoke..............................Evermore at West Village ............................ HR ......................... Eva Rd. & The West Mall ...................................................................tridel.com Etobicoke..............................Humberwood Heights ........................... CTH/FTH ................... 50 Humberwood Blvd. .......................................tributecommunities.com Etobicoke..............................Cypress at Pinnacle Etobicoke ................... HR ......................... 5475 Dundas St. W. ................................................pinnacleinternational.ca Etobicoke..............................42B Queensway III ........................................ HR ......................... 1325 The Queensway...........................................tributecommunities.com Etobicoke..............................36 Zorra Condominiums.............................. MR ......................... 36 Zorra................................................................... altreedevelopments.com Markham/Unionville..........Panda Markham ............................................. HR ......................... 8200 Warden Ave. ............................................lifetimedevelopments.com Markham/Unionville..........Varley Condo Residences .............................LR.......................... 20 Fred Varley.........................................................tributecommunities.com Markham...............................Canvas on the Rouge.................................... MR ......................... Donald Cousens Pkwy & Ninth Line ................................. flatogroup.com Mississauga ..........................Amber at Pinnacle uptown ......................... HR ......................... 5044 Hurontario St. ..............................................pinnacleinternational.ca Mississauga ..........................Perla Towers at Pinnacle Uptown.............. HR ......................... 5044 Hurontario St. ..............................................pinnacleinternational.ca Mississauga ..........................Oro at Edge Towers ...................................... HR ......................... 24 Elm Dr.W..........................................................................................solmar.ca Mississauga ..........................Brightwater Condos .....................................CTH........................ 70 Mississauga Rd. S. .......................................mybrightwatercondos.com Mississauga ..........................Artform Condos.............................................. MR ......................... 86 Dundas St. E. ............................ artformbyemblemdevelopments.com Mississauga ..........................M4 at M City..................................................... HR ......................... 3891 Redmond Rd. at Burnhamthorpe .............................urbancapital.ca North York ............................M2M ................................................................... MR ......................... Yonge & Finch ..................................................................... m2mcondos.com Oshawa .................................U.C. Condos..................................................... HR ......................... Simcoe St. N. & Winchester Rd. W. ....................tributecommunities.com Scarborough ........................4097 Lawrence East ...................................... MR ......................... 4097 Lawrence Ave. E. .............................................................. firmland.com Scarborough ........................Pinnnacle Toronto East ............................... HR ......................... 3260 Sheppard Ave. E. .........................................pinnacleinternational.ca Scarborough ........................Perch Condos ................................................. MR ......................... 4694 Kingston Rd....................................................................... firmland.com Toronto .................................10 St. Mary Street ........................................... HR ......................... 10 St. Mary St. ....................................................lifetimedevelopments.com Toronto .................................111 River St. Condos ...................................... HR ......................... 111 River St. .........................................................lifetimedevelopments.com Toronto .................................200 Queens Quay W. .................................... HR ......................... 200 Queens Quay W. ......................................lifetimedevelopments.com Toronto .................................40 210 Bloor St. W. ........................................ HR ......................... 210 Bloor St. W. .....................................................tributecommunities.com Toronto .................................489 Wellington St. W. ................................... HR ......................... 489 Wellington St. W. .......................................lifetimedevelopments.com Toronto .................................500 Dupont St. ............................................... MR ......................... 500 Dupont St. ...................................................lifetimedevelopments.com Toronto .................................Aqualuna at Bayside ..................................... HR ......................... 200 Queens Quay East ...................................................................tridel.com Toronto .................................Artistry Condos ............................................... HR ......................... 292 Dundas St. W. ..................................................tributeartistrycondos.ca Toronto .................................Panda Condos................................................. HR ......................... Yonge & Dundas. ...............................................lifetimedevelopments.com Toronto .................................Skytower at Pinnacle One Yonge .............. HR ......................... 1 Yonge St. ...............................................................pinnacleinternational.ca Toronto .................................The Prestige at Pinnacle One Yonge ....... HR ......................... 1 Yonge St. ...............................................................pinnacleinternational.ca Toronto .................................Tridel at the Well ........................................ MR/HR ..................... Spadina Ave. & Wellington St. .....................................thewelltoronto.com Toronto .................................Via Bloor ........................................................... HR ......................... Bloor & Parliament. ...........................................................................tridel.com Toronto .................................The PJ Condos ............................................... HR ......................... 283 Adelaide St. W..................................................pinnacleinternational.ca Toronto .................................36 Eglinton Ave. W. ....................................... HR ......................... 36 Eglinton Ave. W. ..........................................lifetimedevelopments.com Toronto .................................Linx Condominiums ...................................... HR ......................... Danforth & Main ................................................ tributecommunicties.com Toronto .................................Y&S Condos .................................................... HR ......................... 2161 Yonge St. .......................................................tributecommunities.com Toronto .................................Burke Condos ................................................. HR ......................... Bloor & Sherbourne ................................................. concertproperties.com Toronto .................................MRKT Alexandra Park .................................MR HR...................... Dundas & Spadina .............................................................................tridel.com Toronto .................................181 East ............................................................. HR ......................... 181 Sheppard Ave. East ...................................................................stafford.ca Toronto .................................Avenue & Park ................................................. MR ......................... Avenue Rd. & Bedford .....................................................................stafford.ca Toronto .................................50 at Wellesley Station.................................. HR ......................... 50 Wellesley St. East ................................................................pureplaza.com Toronto .................................No. 1 Yorkville.................................................. HR ......................... 1 Yorkville Ave............................................................................pureplaza.com Toronto .................................Theatre District Residences......................... HR ......................... Adelaide & Widmer ..................................................................pureplaza.com Toronto .................................Bijou on Bloor ................................................. MR ......................... 2450 Bloor St. West..................................................................pureplaza.com Toronto .................................The Briar on Avenue .....................................CTH........................ 368 Briar Hill Ave. .....................................................................pureplaza.com Toronto .................................One Seventy .................................................... HR ......................... Spadina & Queen St. West ......................................................pureplaza.com Toronto .................................King West & Charlotte ................................... HR ......................... King St. West & Charlotte........................................................pureplaza.com Toronto .................................Forest Hill Private Residences..................... MR ........................ 2 Forest Hill Rd. ..................................................... altreedevelopments.com Toronto .................................Oscar Residences ........................................... MR ......................... 500 Dupont St. W. at Bathurst...................................oscarresidences.com Toronto .................................Whitehaus ........................................................ HR ......................... Yonge & Eglinton ...............................................lifetimedevelopments.com Toronto .................................Liberty Market Tower..................................... HR ......................... 171 East Liberty St. .............................................lifetimedevelopments.com Toronto .................................XO Condos....................................................... MR ......................... King & Dufferin...................................................lifetimedevelopments.com Toronto .................................234 King East ................................................... HR ......................... 234 King St. E. ...............................................................emblemdevcorp.com Toronto .................................The Dupont ..................................................... MR ......................... Dupont & Ossington.........................................................................tridel.com Toronto .................................Bianca Condos................................................ MR ......................... 420 Dupont St ....................................................................................tridel.com Thornhill ...............................Royal Bayview ................................................ MR ......................... Bayview Ave. & Royal Orchard Blvd. ............................................tridel.com Toronto .................................LeftBank ............................................................ HR ......................... River St. & Dundas St. East..................................................... broccolini.com Vaughan ................................Park Avenue Place 1 & 2 ............................... HR ......................... Jane St. & Rutherford Rd. ................................................................solmar.ca Vaughan ................................The Vincent...................................................... MR ......................... Jane St. & Hwy. 7 ........................................................................ thevincent.ca Vaughan ................................The Rose Hill Condos ................................... MR ......................... 177 Woodbridge Ave.......truecondos.com/capital-north-communities Vaughan ................................SXSW Condos .................................................. HR ......................... Islington & Steeles..........................................................primonthomes.com Whitby ...................................The Landing Whitby Harbour ................. HR/MR ..................... 1604-1616 Charles St. .................................................................carttera.com

MAPS

Locate properties using the map on the previous page

60 condolife magazine | June 5–July 3, 2021

+

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

HOT PROPERTIES | OUT OF TOWN

FIND YOUR NEXT HOME

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

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nexthome.ca | myhomepage.ca 61

HOT PROPERTIES | SOUTHWESTERN ONTARIO AREA

KITCHENER–WATERLOO

Guelph

Waterloo

Milton

Kitchener

Cambridge

5

Brantford

Hamilto n 11

4

13

3 1

14

2 12

LONDON

15

London

62 condolife magazine | June 5–July 3, 2021

Mississauga

19

16 17

Oakville 18

6

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

7

Burlington

21 10

20

St Catharines

Niagara Falls

8

22

Welland

CARTOGRAPHY: MARKETMAPS.COM

9

nexthome.ca | myhomepage.ca 63

HOT PROPERTIES

FIND YOUR NEXT HOME

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

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

MAP LOCATION 1.

SITE

TYPE ADDRESS

CONTACT

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

2.

Ancaster ................................Tiffany Hill ......................................................CTH........................ Raymond Rd. & Rymal Rd. ...................................... rosehavenhomes.com

3.

Brantford...............................The Ambrose Condos .................................. MR ......................... 401 Shellard Ln ...................................................... theambrosecondos.com

4.

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

5.

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

6.

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

7.

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

8.

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

9.

Fonthill ..................................The Fonthill ..................................................... MR ......................... Rice Rd ................................................................................ elitemdgroup.com

10.

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

11.

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

12.

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

13.

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

14.

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

15.

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

16.

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

17.

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

18.

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

19.

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

20.

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

21.

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

22.

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

MAPS

Locate properties using the map on the previous page

64 condolife magazine | June 5–July 3, 2021

+

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

ADVERTISER INDEX — Find ads easily inside this edition Access Storage .......................................................................... 1 9 Alpha Gardens – Aoyuan ........................................................ 1 3 Black & Decker ................................................................... 25, 65 Bright Side, The ........................................................................ 6 7 Dupont, The – Tridel.................................................................. 9 Epoch Times .............................................................................. 1 6 Erin Glen .................................................................................... 6 7

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Bright Side, The ........................................................................ 6 7

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Aoyuan ........................................................................................ 1 3

Dupont, The – Tridel.................................................................. 9 Guglietti Brothers Investments ...............................................1 1 McOuat........................................................................................ 1 4 Mountainview Building Group ................................................. 2 MRKT Alexandra Park – Tridel ...........................................9, 57

Two Prizes Awarded Each Edition of Active Life, Condo life, HOMES and Reno + Decor

Pinnacle International .............................................................. 57 Pinnacle International ........................................................57, 68 Rosehaven ...................................................................................1 1 Solmar ...............................................................................2, 57, 67 Team Chopra Realty ................................................................. 6 7 Townwood ..................................................................................1 1 Tribute....................................................................................... 4, 5

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nexthome.ca | myhomepage.ca 65

ADVICE | INDUSTRY REPORT

GOVERNMENTS AT ALL LEVELS MUST COMMIT TO TACKLING HOUSING SHORTAGE

DAVE WILKES

If you are trying to buy a new home in the GTA right now, it’s probably clear to you that the housing market is out of balance, with many eager buyers vying for a limited number of available new homes. What may not be clear is why there isn’t an adequate supply to meet this demand.

The answer is that the GTA’s severe housing supply shortage is, in large part, due to red tape and delays in approvals. Building housing in the GTA takes too long and costs too much. A BILD member recently pointed out that when people see a new housing development being built, they typically think the builder is just starting the project. In reality, building is the end of a very long process. In the GTA, it takes, on average, 10 years to complete a typical highrise condominium project and 11 years for a lowrise project.

66 condolife magazine | June 5–July 3, 2021

As a result, the region has fallen short of demand by 115,000 units in the last 15 years. Using an Ontario average of 2.5 people per household, that number of units would have provided enough housing for nearly 300,000 people.

The current provincial government has prioritized housing supply, asking municipalities to plan for a longer time horizon to ensure adequate supply.

Unfortunately, it will be five years or more before these laudable policy initiatives have a meaningful impact.

Another issue is that suitable land within existing municipal boundaries to allow for a balanced mix of new housing is in limited supply and high demand, further driving up costs.

Unfortunately, some municipalities and regions, such as Halton, are considering “no growth” concepts when considering opportunities to expand their boundaries to support future growth in their official plan updates.

These conversations are based on idealistic assumptions about how people want to live, rather than on facts and the requirements of the

provincial Growth Plan. We need to get back to balanced discussions that align with and support good community-building practices.

The provincial government recognizes we have a housing supply problem, as does the federal government. So do some municipalities across the GTA, but not all. Our housing challenge will be solved only if governments at all levels work together to ensure we make decisions today to build the infrastructure and the supply of housing and commercial spaces we need for the more than four million additional people who will call the GTA home by 2051.

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

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407 401

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PRESENTATION CENTRE 5044 Hurontario Street (at Eglinton) Mississauga, Ontario

PinnacleInternational.ca

TORONTO . MISSISSAUGA . VANCOUVER

Brokers Protected. Rendering is artist's impression. Prices and specifications are subject to change without notice. E.&O.E.