Next Home + Condo Guide GTA - May 11, 2019

Greater Toronto Area May 11–25, 2019

The first and only complete guide to pre-construction homes and condos

INSIDE:

ANSWERS TO YOUR 3 MOST-ASKED QUESTIONS

TAX INFO FOR BUYERS AND SELLERS

NEW SINGLES NOW AVAILABLE

TOWNS, & SEMIS from the mid

400’s

$

NEW RELEASE SINGLES from the high

500’s

$

Is Paris the most charming small town in Ontario?

Ask some of the locals and they’ll tell you how the cobblestone character of local historic homes

gives Paris a flavor distinctly its own. The broad

and steady Grand River brings a calm and measured pulse to everyday life that’s impossible

to get anywhere else. It’s time to raise your

expectations with more home and space for your money. Isn’t that Simply Grand?

LosaniHomes.com ANCASTER | BEAMSVILLE | CALEDONIA | HAMILTON | PARIS Prices and specifications subject to change without notice. E.&O.E.

N PE O W O N

Brilliantly Bloor Steps away from Jane Station, the Bijou dazzles brilliantly above the charming shops of Bloor West Village, perfectly embodying the intersection of sleek design and old world opulence.

With large suites, stunning interiors, private terraces, and an array of exceptional amenities to elevate your day-to-day, at the Bijou, there truly is no place like home.

Presentation centre now open at 2450 Bloor Street West.

PUREPLAZA.COM Rendering is an artist’s impression. Certain design elements are subject to change without notice. All rights reserved. E.&O.E. February 2019.

Live LiveWell.

Well.

Live.

Eat. Live.

Live.Eat. Eat.Shop.

Shop.

Work.

Play.

Work.

Work.Play.

Play.

Tridel, Canada’s leader in living, Tridel, Canada’s leader in condominium condominium living, Tridel, Tridel, Canada’s Canada’s leader leader condominium in condominium living, living, introduces Toronto’s most anticipated condominium introduces Toronto’s most anticipated condominium introduces introduces Toronto’s Toronto’s most most anticipated anticipated condominium condominium lifestyle lifestyle at at TheThe Well.

Well.

It’sIt’s a bold a bold reflection reflection of of Toronto’s Toronto’s energy and diversity and an extension of urban energy and diversity and anan extension of the urban energy energy and and diversity diversity and and an extension extension ofthe of thethe urban urban vibrancy King West. astounding development vibrancy of King West.

This astounding development vibrancy vibrancy ofof of King King West.

West.

This This astounding astounding development development includes includes a mixture a mixture of of condominiums, condominiums, retail, retail, office, office, and and rentals Toronto at Front and Spadina. rentals in downtown Toronto atat and Spadina. rentals rentals inin downtown indowntown downtown Toronto Toronto at Front Front and and Spadina.

Spadina.

TRIDEL.COM TRIDEL.COM AT AT REGISTER REGISTERAT TRIDEL.COM TRIDEL.COM AT REGISTER REGISTER ®® ® ©Tridel 2019.

Tridel, design, Tridel Built for Life, Built Design, and Built Green Built for ©Tridel 2019.

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2019.

Tridel, Tridel, “D”“D” design, “D” design, Tridel Tridel Built for for Tridel Tridel Life, Built Built forLife Life for Design, Life Design, and Built and Built Green Green Built for for Life are Trademarks Tridel Corporation.

Project names and Trademarks ofoftheir Liferegistered are registered Trademarks Tridel Corporation.

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Corporation.

Project Project names names andlogos logos andare logos are Trademarks are Trademarks of their of their respective owners. rights reserved.

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Illustrations Illustrations are artist’s areconcept artist’s concept concept Prices specifications subject change without notice.

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Prices and specifications subject to change without notice.

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Prices Prices andand specifications and specifications subject subject toto change to change without without notice. notice.

E.&O.E. E.&O.E. May 2019.

May 2019. ®®

CONTRIBUTORS

bild report | dave Wilkes Dave Wilkes is president and CEO of the Building Industry and Land Development wAssociation (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

chief revenue officer

Jacky Hill jacky.hill@nexthome.ca eDiTor-in-chief

Susan Legge susan.legge@nexthome.ca ArT DirecTor

Tammy Leung conTribuTing eDiTors

stat chat | ben Myers Ben Myers is president of Bullpen Research & Consulting, a boutique real estate firm that advises land owners, developers and lenders on housing market conditions that can impact their development projects. Follow Bullpen on Twitter at @BullpenConsult or visit bullpenconsulting.ca

Sara Duck Marlene Eisner Amanda Pereira senior meDiA consulTAnTs

Jessica Wilson 416.873.1049 jessica.wilson@nexthome.ca Natalie Chin 416.881.4288 natalie.chin@nexthome.ca sAles & mArkeTing co-orDinATors

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.

Gary Chilvers Sarah Khan distribution

distributionteam@nexthome.ca AccounTing inquiries

accountingteam@nexthome.ca DirecTor of PrinT meDiA

Lauren Reid–Sachs grAPhic Designer & coorDinATor

Alicesa Pullan grAPhic Designers

legally speaking | Jayson schWarz Jayson Schwarz LL.M. is a Toronto real estate lawyer and partner in the law firm Schwarz Law LLP. He can be reached by visiting schwarzlaw.ca or by email at info@schwarzlaw.ca or phone at 416.486.2040.

Miguel Cea, Sandra Hanak–Vujnovic, Johannah Lorenzo, Mike Terentiev, Kathleen Walker, Alice Wu, Hannah Yarkony Published by

nexthome.ca Advertising call 1.866.532.2588 for rates and information. fax: 1.888.861.5038

pMa pointers | sue di ilio Sue Di Ilio is a new-home sales manager with many years of experience having worked on various high- and low-rise communities throughout the GTA. www.pmabrethour.com

guest coluMnist | Michael di pasquale Joining Dunpar Homes in 2009 as controller of the company, Michael Di Pasquale was appointed COO of Dunpar to guide the company’s expanded initiatives to new areas of real estate development. Michael is a guest expert on BNN, Bisnow and CitySpark. www.dunparhomes.com

Circulation highly targeted, free distribution system aimed at real estate buyers using street level boxes and racking. call 1.866.532.2588 to discuss distribution opportunities.

Copyright Notice 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. contents of this publication, in hard copy format as well as online, are covered by copyright law, and offenders will be prosecuted.

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Terms Advertisers and editorial are not responsible for typographical errors, mistakes or misprints.

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

6 New Home + Condo Guide | May 11–25, 2019

Editor’s notE

more homes, lower prices

SuSan legge Editor-in-chiEf new Home + Condo Guide Email: susan.legge@nexthome.ca twittEr: @SusanLegge

Earlier this month, the Ontario government unveiled its housing action plan, designed to “unlock” the development of new dwellings to purchase or rent. According to the news release, the plan aims to give people “more choice in an effort to help bring down the cost of housing.” It’s classic supply and demand economics — the greater the supply, the lower the prices.

“We’ve heard loud and clear from families across Ontario that finding housing that is affordable takes too long and costs too much,” said Steve Clark, Minister of Municipal Affairs and Housing. “After years of neglect by the former government, there is now a housing crisis in Ontario and the dream of ownership is out of reach for too many.

Our plan will make it easier to build the right type of homes in the right places, giving Ontarians and their families more flexibility when looking for a home they can afford.”

Homebuilders and developers are hopeful this new plan will remove barriers to providing more housing for the current and future residents of Ontario, said Joe Vaccaro, CEO of the Ontario Home Builders’ Association (OHBA). “A healthy housing system exists when a city or region has the right mix of housing choice and supply. The province’s Housing Supply Action Plan lays the groundwork for more homes to be built, which leads to more choice and affordability,” he said.

OHBA recently worked with Ryerson University’s Centre for Urban Research and Land Development (CUR) and the Ontario Real Estate Association (OREA) to produce research showing that thousands of government-owned properties are underutilized and could be used to build a variety of housing options across the province. If you’d like to read more about this study and receive a curated collection of our stories, be sure to sign up for our newsletter online at nexthome.ca/ subscription/ As always, we hope you enjoy this issue.

Tax information you need to know if you buy or sell a home

56 up in smoke 20

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May 11 - 25, 2019 | voluMe 28, issue 10

Contents

16 on THe CoVeR:

tridel Discover one of ToronTo’s mosT anTicipaTeD lifesTyle opporTuniTies

10 New Home + Condo Guide | May 11–25, 2019

28 PRoPeRty PRofiles

28

20 legally speaking Cannabis and the condo

Plaza Bijou on Bloor brings midrise jewel to Bloor West Village

by jayson sCHWaRz

24 stat Chat Is the Toronto condo market hot or cold?

36 Kaneff Enjoy a downtown Mississauga lifestyle at Keystone by Kaneff

tRending

30 Fieldgate urban Toronto’s newest poet laureate commemorates National Poetry Month at The Poet Condos in Leslieville

42 empire Communities High school co-op placement programs a success in Brantford and Caledonia

æ Beyond The City PRoPeRty PRofile

50 Fieldgate Homes and Paradise Dev. Better living comes to Whitby with launch of Park Vista

by ben MyeRs

32

PMa Pointers How new homes exceed expectations when compared to resale dwellings by sue Di ileo

46 Condo Pro Why this BILD resource is worth checking out by baRbaRa laWloR

in eVeRy issue

6

Contributors

52

Glossary

53

Hot Properties GTa

57

Hot Properties sWo

61

advertiser index

64 What’s online

56 Tax & Rebate KnowHow Important info you need to know when buying or selling a home

adViCe

12

Guest Columnist Today’s real estate market challenges

by MiCHael Di Pasquale

14

bilD Report Answers to your top three questions about GTA development

by DaviD WilKes

36 nexthome.ca 11

Guest columnist

ToDay’s real estate market challenges Michael DiPasquale

The last two years have been an interesting time for the Toronto area real estate market. In early 2017, prices were escalating rapidly and bidding wars were common.

By that fall, new government rules, the mortgage stress test and higher interest rates had cooled the low-rise market. Last year, sales remained sluggish and GTA low-rise prices were down a modest four per cent.

Although it’s still early in 2019, we are seeing regular traffic at our Dunpar sales centres. Home buyers are very interested, but hesitant as to whether or not they should go ahead and purchase. In my opinion, it’s a very good time to buy.

Analysts are predicting a stable housing market, with modest price gains of around two per cent this year and no market crash.

The Ontario economy remains healthy, there is good job growth, low unemployment, stable inflation and a recession seems unlikely. As inflation is currently below 2 per cent, we can expect interest rates to remain stable.

Home prices have and will remain high. The issue is that in the 416 and in 905 areas such as Mississauga, Vaughan and Oakville, there is a land supply issue and this will be forever.

12 New Home + Condo Guide | May 11–25, 2019

Another significant influence on the market is immigration - Toronto area is welcoming approximately 110,000 newcomers a year and all those people need somewhere to live.

Condo sales have not been subject to the same fluctuations as the low-rise sector. That market has remained strong and prices have increased, as condos offered an affordable ownership alternative.

But the price gap between highrise and low-rise prices is shrinking and now that millennials are partnering up and starting families, most don’t want to raise children in small condo suites.

You may have heard about the ‘Missing Middle.’ This refers to mid-rise buildings, townhouses and stacked townhouses that bridge the gap between the high-rise and traditional detached housing forms.

As an infill builder specializing in townhouses, Dunpar has realized there is a huge and growing need for this type of product that fills the niche between high-rise condos and detached homes. However, the approval process to allow for more townhouse development is slow and hasn’t kept pace with the demand.

This type of housing can be easily integrated into residential blocks with single-family housing and can help cities achieve infill and density goals. Townhomes are among the most in-demand housing in the GTA, sought by buyers who want room to raise a family, or downsizers who want less maintenance but don’t want to sacrifice too much space.

There are others who simply don’t want to live in towers and prefer ground-related housing.

The townhouse option provides sustainable living, particularly in locations close to transit such as Dunpar’s Streetsville Centre in Mississauga and Lakeshore Village in Etobicoke. Towns – especially back-to-back units – are more affordable than detached homes, yet still offer 1,500 to 2,000 sq. ft. of space with parking. In transitoriented locations such as these, cars aren’t a necessity – another benefit for young people that have little interest in driving or owning a vehicle - or older adults who don’t want to have to use the car to access services and shopping.

Either way, two-car parking is still provided in all homes.

The townhouse’s time has come. It’s a great solution for the challenges of the GTA housing market now and for the foreseeable future.

Michael DiPasquale is the Chief Operating Officer of Dunpar Homes.

He is a guest expert on the Business News Network, Bisnow and CitySpark.

ADVICE | bIlD rEport

your top three questions, answered dave wilkes

On April 2, the Building Industry and Land Development Association (BILD) launched its Building Answers public awareness campaign. The objective of the campaign is to demystify the development and home building process and to have a dialogue with residents about the housing challenges facing the region. I would like to take the opportunity to thank the hundreds of residents that submitted questions at BuildingAnswers.ca for us to answer over the past three weeks.

Here are the top 3 questions.

1. How will the housing affordability challenge impact their ability to purchase a home?

By far the largest number of questions we have received pertained to resident’s ability to afford a home in the Greater Toronto Area (GTA). Questions even extended into the challenges related to finding rental properties and the status of purpose-built rental building in the region.

Questions were received from young and old, to single parents and single income families. Where means appeared to be a challenge to homeownership, we directed individuals to programs that exist to assist them and where means 14 New Home + Condo Guide | May 11–25, 2019

was not an issue we informed residents to alternatives and considerations.

The answer to the question on affordability is that for many people looking for a new home the solution relies on the ability of the GTA to fix the housing supply shortage in such a way that meets the housing demand of the 115,000 new people that come to

the region every year. In Canada, 68 per cent of people own their own home, meaning that in order to house the present and future population we need more than just homes for purchase. We need housing for rent, purposebuilt rental and social housing.

The barriers are complex but to state the solution as plainly as possible, industry, government and

So, while residents of the GTA view cranes and graders as part of the problem, they are actually part of the solution as the industry builds to meet growth.

the public need to find ways to build more housing faster and to mitigate unnecessary delays and costs on new housing.

2. Why is there so much development in the GTA? This is a question that was asked in a variety of forms – from why is there so much development in my

neighbourhood, to why are cities growing so fast.

The answer is that the GTA is a desirable place to live from a quality-of-life and economic perspective and it is growing by about 115,000 people per year. It’s a combination of natural growth, rural to urban migration, migration from other parts of Canada and immigration from other countries.

These new residents need places to live, work and play. The region already has a housing shortfall.

Since 2006, the GTA fell short of the provincial Growth Plan forecast by approximately 100,000 new homes and this issue has also been exacerbated by continued strong housing demand.

So, while residents of the GTA view cranes and graders as part of the problem, they are actually part of the solution as the industry builds to meet growth.

3. Why so dense?

Why are new communities so much denser that decades ago was a question that was asked a lot. Many of the questions came from a nostalgic place as the questions started with: “When I

was young” type statement” to “I just want a little elbow room”.

This question can be answered in two parts. First, government regulations like the Growth Plan required development to be denser which has had a tremendous impact of the type of housing getting built. Secondly, land values have escalated significantly since 2006 requiring more efficient land use in order to keep new housing prices to levels that the average family can afford.

Again, thank you for taking the time to submit your questions to us.

Please keep them coming and we will continue to answer them the best we can. Please visit buildinganswers.ca to submit your question.

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, @bildgta, or visit www.bildgta.ca.

+more adViCe online nexthome.ca/news/advice

nexthome.ca 15

Cover Story

a Once-in-a-lifetime lifestyle opportunity is cOming sOOn tO king west The Well is one of the most ambitious mixed-used endeavours in Canada, a bold reflection of Toronto’s energy and diversity and an extension of the urban vibrancy of King West. Bordering Front, Spadina and Wellington, The Well brings a unique mix of shops, restaurants, fresh-food markets, work spaces and residences, 16 New Home + Condo Guide | May 11–25, 2019

spanning seven acres and three million square feet of culture, entertainment and community in downtown Toronto’s west side.

With construction of the transformative community already well under way, Tridel, Canada’s leader in condominium living, is preparing to launch the most anticipated condominium lifestyle

opportunity in the city, in just a few weeks.

“The Well is a choreographed mix of urban experiences, dynamic architecture and interconnected public spaces. There is simply no other development that offers this breadth and scale of integrated uses,” says Jim Ritchie, Executive Vice President, Sales

and Marketing at Tridel. “Residents will experience the full spectrum of urban living without needing to leave the community. And when they do leave, they’ll find themselves in the middle of one of Toronto’s most dynamic and energetic neighborhoods.”

The condominiums by Tridel at The Well will offer residents two distinct living opportunities. The Classic Series I and II consists of two towers along Front Street at 38 storeys and 22 storeys respectively. A boutique, 14-storey mid-rise known as the Signature

Series will be located along the revitalized and historic Wellington Street. Each of the three buildings will feature Tridel’s unwavering commitment to quality and sustainability, as well as its own independent amenity spaces, including party rooms, outdoor terraces with pools, fitness centres and more.

With a pedestrian-centered focus, Tridel at The Well sets the stage for incredible experiences and responds to some of the strongest desires of downtown Toronto today: walkability,

community-building, the ability to create connections while seamlessly blending old and new. More than a collection of buildings, The Well is an amenity-rich, urban streetscape and a vital, fully functioning environment that puts the things people want most within easy reach. Perfectly situated between King West and the Entertainment District, Tridel at The Well offers established connections to public transit, airports, trains, buses and highways. nexthome.ca 17

Materials used in the design were carefully considered to reflect the surrounding neighbourhoods, pulling visual cues from the existing architecture along King Street West. Multiple architects and visions came together to tell a cohesive architectural story that purposefully moves from red brick to wood to concrete as The

Well flows west to east towards the financial district. Overhead, a soaring glass canopy responds to the unique seasonal diversity of Toronto, sheltering pedestrians as they move through The Well.

This allows for year-round access to green spaces and the al fresco shopping and dining experience that people crave. The highly

anticipated launch of Tridel at the Well will include 400 suites in Classic Series I, the first of Tridel’s two urban condominium towers on Front Street, and 98 suites in the Signature Series boutique residence on Wellington.

Register at tridel.com for more information and regular updates.

+

Location Toronto buiLder Tridel Home type Condominium contact Tridel.com

18 New Home + Condo Guide | May 11–25, 2019

CONSTRUCTION STARTING THIS SPRING Panoramic lake and city views from Burlington’s tallest residence › Steps to restaurants, shops & the waterfront promenade. › Minutes to GO transit and an easy commute to Downtown Toronto. › A great selection of smartly designed suites remain. › Rooftop Terrace with Outdoor Lounge and Pool. › State-of-the-art Fitness Centre, Yoga Studio, Show Kitchen & more.

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AdiDevelopments.com *Limited time offer subject to change or withdrawal without notice. Some condition apply. **Additional 5% deposit due on occupancy. Offer available on select suites only, and may vary by suite. Please see Sales Representative for details.

Prices, sizes and specifications subject to change without notice. Illustration is artist’s concept E.&.O.E.

ADVICE ADVICE| |LEGALLY MORTGAGE SPEAKING INTEL

UP IN SMOKE CANNABIS AND THE CONDO

by MARK LAURIOLA LL.B. & JAYSON SCHWARZ LL.M.

JAYSON SCHWARZ

So now it’s the end of the day. You lean back in your big chair. You light that big fat doobie you’ve been thinking about all day at work and now you can really chill. Wait!

There is a knock on the door. You get up to answer it and it’s condo security. “I am sorry ma’am, there is a rule, no smoking of cannabis in this building.” Oh my, you own the unit, yet…

The Cannabis Act (the “Act”) came into effect on Oct. 17, 2018.

The purpose of the Act is to strictly regulate, restrict access, and legalize cannabis in Canada.

It creates a regulatory and legal framework for controlling the production, possession, sale and distribution of cannabis in Canada.

However, it is up to the provinces and territories to determine how cannabis is distributed and sold within their jurisdictions.

In Ontario, you must be 19 years of age and older to buy, possess, use, and grow recreational cannabis. You are able to have a maximum of 30 grams of dried cannabis in public at any time and allowed to grow up to four cannabis plants per residence.

The real question is how does this apply to ownership and use of your condominium unit?

Not surprisingly, there are different interests at stake. On the one hand, there are the unit 20 New Home + Condo Guide | May 11–25, 2019

owners and residents who believe it is part of their “quiet enjoyment” to be able to smoke in their units and common areas. On the other hand, there are those who believe smoking would impede on their “quiet enjoyment” insofar as it

creates a nuisance due to secondhand smoke and odours.

There are many safety and other arguments for and against cannabis use. The answer for each condominium board will be based …continued on page 22

the finer art of downtown markham

Double Down. Kevin Kelly Main Lobby, Toronto Marriott Markham, 170 Enterprise

Coming Soon. An artisitic reflection of urban living in the heart of Downtown Markham’s Cultural district. Residences from the $400’s.

Register at downtownmarkham.ca Exclusive listing Brokerage, Intercity Realty Inc., Brokerage. Brokers protected. Illustrations are artists’ concept and are subject to change without notice. E.&O.E.

…continued from page 20

on the democratic choice of the owners in the building expressed through the Board.

If the owners decide they want a cannabis-free building, the condo corporation has two options. First, the rules may be amended. This is the easier option. Pursuant to Section 58(1) of the Condominium Act, 1998 (“the Condo Act”), the board may make, amend or repeal rules for the use of the units, the common elements or the assets of the corporation.

This is done in two ways.

Subsection 58(1)(a) allows for the promotion of safety, security or welfare of the owners, the property and the assets.

Subsection 58(1)(b) allows for the prevention of unreasonable interference with the use and enjoyment of the units, common elements or the assets.

Reasonableness must prevail according to Subsection 58(2) and one may argue the rules would be consistent with the Condo Act. As per Subsection 58(7), a rule becomes effective 30 days after the board has given notice of the rule to the unit owners. This is true 22 New Home + Condo Guide | May 11–25, 2019

unless the unit owners requisition a meeting within the 30 days after notice was provided.

Second, the declaration may be amended. Pursuant to Subsection 7(4)(b) of the Condo Act, the declaration may contain conditions or restrictions on the occupation and use of the units and common elements.

One may suggest restrictions on recreational cannabis would fall under this provision.

However, this is not easy to achieve. According to Subsection 107(2)(e), the condo corporation may amend the declaration if 80 per cent of unit owners approve and consent to the proposed amendment.

WHAT DOES THIS ALL MEAN?

Condo corporations have the choice to further regulate the use of recreational cannabis within their units and common elements.

When buying a condo unit, this is something to consider. In the end, if you are a smoker of any kind, you need to really look into whether you can use a unit you buy in the way you want.

Having reviewed Status Certificates, it is becoming commonplace that rules are being amended to prohibit smoking and cultivating recreational cannabis. There is normally a medical cannabis exemption. However, not all Status Certificates and condo corporations are the same. How important this is depends on where you fall in the competing interests spectrum previously mentioned. Always ensure your offer includes the opportunity for your lawyer to review the Status Certificate.

Happy home hunting!!!

Jayson Schwarz and Mark Lauriola are Toronto real estate lawyers in the law firm Schwarz Law LLP. If you have a topic in mind you would like us to consider, mail, deliver or fax letters to the magazine or to the firm, use the website (schwarzlaw.ca), email (info@schwarzlaw.ca) and give us your questions, concerns, critiques and quandaries.

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ADVICE | STAT CHAT

T.O. CONDO MARKET IS IT HOT OR COLD? BEN MYERS

During my presentation at a recent real estate event hosted by Meridian Credit Union, I outlined the state of the Toronto housing market, with a specific focus on the new-home market. In one of my slides it showed that at the end of 2018, there was a record number of apartment units (condo and rental tenure) under construction in the Toronto 24 New Home + Condo Guide | May 11–25, 2019

Census Metropolitan Area (CMA). I mentioned that there was a record high absorption figure last year: 99.8 per cent of a new condos completed in the CMA were already sold at occupancy according to CMHC, the highest level in over 30 years.

By comparison, the Vancouver CMA was at 91 per cent, the Montreal CMA at 73 per cent and the Ottawa CMA at 64 per cent last year. With almost all of the new condo projects sold out at the time of completion, the number of standing inventory units fell to a 30-year low as well.

With those rosy figures in mind, Urbanation released their Q1-2019 data in early May, which showed that per-construction new condo sales volumes hit a six-year low.

The condo data firm also indicated that there were only eight new projects launches in the first quarter (1,829 units), which was a 10-year low. That compares to 4,053 units in the same quarter last year and 6,293 in the first quarter of 2017. This begs the question, were developers not launching due to poor sales, or were they not launching because they don’t have …continued on page 26

RESIDENCES AT 481 UNIVERSITY

ISSUE Nº 2: COMING SOON

THE UNITED BLDG. IS HERE. STATELY AND MAJESTIC. AN ESSAY ON BALANCE AND FLOURISH.

Exclusive Listing: Baker Real Estate Incorporated, Brokerage. Brokers Protected. Illustration is artist’s impression.

Billed as North America’s largest heritage retrofit, its dramatic architecture preserves the building’s rich past while introducing a distinct contemporary addition. The United Bldg. is unique, to say the least. A place to live, work and play, its residential component is a rare entity on Toronto’s most ceremonial thoroughfare, University Ave. With direct access to St. Patrick subway station, the building’s connected to the city, effortlessly. Singularly luxurious. Carefully conceived.

An address with a distinct sense of purpose.

REGISTER theunitedbldg.com

A HISTORIC ADDRESS. UNIVERSITY AND DUNDAS.

…continued from page 24

sites to launch? Probably a little bit of both.

During my Meridian presentation, I showed a slide with data on the average prices of the most popular new condo units on Buzzbuzzhome over the past five quarters in the City of Toronto.

The price jumped 17 per cent yearover-year to $1,176 per sq. ft., but actually fell 1 per cent quarterly. It is hard to tell if the market is hot or cold.

My firm, in partnership with Batory Management, released our latest Q1-2019 GTA High Rise Land Insights Report in late April, which showed the median price of high-density lands that traded in the first quarter was sold at $98 per-buildable-sq.-ft., compared to $98 per-buildablesq.-ft. in Q4-2018, and $98 in Q1-2018. Yes, it was the same value in all three periods. Hard to tell if developers are bullish on future price growth if land prices 26 New Home + Condo Guide | May 11–25, 2019

are staying exactly the same. Are they staying the same because they don’t expect new condo price inflation in the coming years, or are they lower because their other costs have skyrocketed, specifically construction costs and government fees?

With new condos selling for upwards of $1,200 per sq. ft., investors will need to rent their units for $6 per-sq.-ft. to break even ($3,600 per month for 600 sq. ft.), a number I thought was crazy at the start of 2018. But, after a year of major rental increases, data from Rentals.ca on postal code M5V in the Entertainment District shows that studio units are already at $5.50 per sq. ft. in rent and rising. Clearly the investor economics and lower return metrics is weighing on the minds of some would-be private landlords. On the other hand, a few recent condo launches sold out in a matter of days. So again, hot or cold?

Only time will tell, but with tougher mortgage rules that make it more difficult for firsttime buyers, record immigration, and solid job growth, there will continue to be tremendous upward pressure on rents. Make sure you work with an experienced realtor to run you through the numbers before plunking down $700,000 for a 600-sq.-ft. rental property. Good luck.

Ben Myers is President of Bullpen Research & Consulting, a boutique real estate advisory firm, that works with land owners, developers and lenders to better inform them of the current and future macroeconomic and site-specific housing market conditions that can impact their active or proposed development projects. Follow Bullpen on Twitter at @BullpenConsult or visit bullpenconsulting.ca

+MORE ADVICE ONLINE nexthome.ca/news/advice

D I S C O V E R

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GRAND OPENING A PRESTIGIOUS ENCLAVE of TERRACED URBAN TOWNHOMES in the HEART OF CLARKSON VILLAGE • Flats from the low $500s • 2-storey plus roof top terrace to over $1.1 Million Imagine living just a short 5 minute walk to Clarkson GO Station in a desirable neighbourhood

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* See sales representative for details. Illustration is artist’s concept. Prices and specifications subject to change without notice. E. & O. E. Exclusive Listing Brokerage: Eleven Eleven Real Estate Services Inc., Brokerage. © 2019 Saxon Developments. All Rights Reserved.

LORNE PARK RD

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PROPERTY PROFILE

Bijou on Bloor Brings mid-rise jewel to Bloor West Village The aptly named Bijou on Bloor will bring a new residential gem to the heart of fashionable Bloor West Village. The 12-storey boutique condominium from Plaza will provide intimate mid-rise living close to a world of shopping choices just minutes from the subway.

The project helps fill the ‘missing middle’ in the neighbourhood – the type of sought-after multi-unit housing that fills the gap between detached low-rise homes and high-rise living.

“It’s a little jewellery box on Bloor West, the fashion district of Canada. It’s an exciting location,” says Scott McLellan, Plaza vice 28 New Home + Condo Guide | May 11–25, 2019

president. “We’ve worked with the community and city. We wanted to make sure to maintain the integrity of the community and didn’t want a large building.” Quadrangle architects have designed a contemporary, sophisticated building for Plaza that blends well with its surrounding neighbourhood.

Good things come in small packages and Bijou on Bloor will be no exception, with beautifully designed interiors, private terraces and the type of first-class amenities you’d find in a fivestar hotel. Most of the suites will face north and look out over the greenery and trees of the Humber

River and surrounding residential neighbourhood; some suites will face south with views of Lake Ontario and the CN Tower.

“It’s really unique, no question about it,” says McLellan. “You’re in an existing vibrant neighbourhood but close to the downtown core.”

In just 15 minutes on the subway, Bijou residents can be downtown.

There are plenty of reasons to linger in Bloor West Village itself. The charming Toronto west neighbourhood is chock full of mom-and-pop shops, specialty stores selling food, fashion and more, eateries and pubs. It’s a compact, walkable neighbourhood that’s easy to explore on foot and

High Park is a short distance to the east.

Bijou on Bloor will certainly appeal to mature buyers living in surrounding neighbourhoods such as High Park, Old Mill, Swansea, Runnymede and The Kingsway who want to downsize from large homes to a smaller, maintenancefree option. Plaza is also attracting interest from younger professionals who grew up in the neighbourhood and want to move back there.

The suites are generously sized, averaging 900 to 1,000 square feet and “that doesn’t exist anywhere else in the city,” according to McLellan.

“We chatted with one couple with a 20-something daughter,” McLellan says. “She’s going to move into Bijou on Bloor with her fiancé and in five or six years, they’ll move into her parents’ house and the parents will move into the condo. We are seeing a lot of decisions like that.”

Plaza is catering to two different markets with Bijou on Bloor. One is the buyer who wants a onebedroom suite with den that starts in the high $600s. Even at that price point, buyers will receive a Miele appliance package. For most two-bedroom and larger suites, priced up to $3 million, all finishes will be of superior quality and buyers will receive Wolf 36-inch ranges and SubZero refrigerators.

“People are really impressed with the appliance packages,” says McLellan.

When planning the amenities, Plaza took into consideration the feedback from informal meetings with potential purchasers who will have resale homes in the area. As a result, Bijou on Bloor will have a beautiful indoor pool with an adjoining indoor-outdoor terrace on the second-floor with views of the neighbourhood. Other amenities include a fitness centre, steam room, lounge with bar,

private dining room with catering kitchen and 24-hour concierge.

There are also three high-speed elevators to whisk residents to their suites.

For more information visit www.pureplaza.com/bijou-bloor

+

LOcaTIOn Toronto BuILdER Plaza dEvELOPmEnT Bijou on Bloor HOmE TYPE Condominium cOnTacT www.pureplaza.com/ bijou-bloor

nexthome.ca 29

Trending

NatioNal Poetry MoNth CoMMeMorated by toroNto’s New Poet Laureate a.F. Moritz at the Poet CoNdos In the first appearance of his tenure, Toronto’s newest Poet Laureate A.F. Moritz delivered a public reading alongside three young poets at The Poet presentation centre in Leslieville on April 24.

An Evening of Poetry Readings is a joint initiative brought to life

by East End Arts and Fieldgate Urban, with a timely connection to National Poetry Month. The free event was designed to help shift perceptions about what urban development means for the arts and cultural sub-communities within Toronto.

“East End Arts is thrilled to partner on this event with Toronto’s newest Poet Laureate, A.F. Moritz, and with Fieldgate Urban. It’s a great example of how developers can work with artists and arts groups to create necessary space for arts and culture in our communities,” says Shana Hillman, Executive Director of East End Arts. “We can’t think of a better way to celebrate the vibrant literary voices of east Toronto, and how fitting that it falls during National Poetry Month!”

A.F. Mortiz was appointed Toronto’s sixth Poet Laureate in early March, succeeding Anne Michaels. A University of Toronto professor, Moritz’s many accomplishments include the 2009 Griffin Poetry Prize and the 2013 Raymond Souster Award. The Toronto poet has also published more than 20 books of poetry.

“I’m proud to present three young poets whose work will 30 New Home + Condo Guide | May 11–25, 2019

From left to right: Poets at An Evening of Poetry Readings included Lily Wang, Toronto’s Poet Laureate A.F. Moritz, and Mercedes Killeen.

inspire anyone, whether inside or outside the vibrant Toronto literary community,” says Moritz, Toronto’s sixth Poet Laureate. “Each of them expresses vital aspects of Toronto’s diversity, and the dynamism of its poetry. I’m proud that Mercedes Killeen, Peter Norman, and Lily Wang have agreed to join me in the first of what I hope will be an ongoing series, The Poet Laureate Presents, discovering and offering poetry in every part of our city.”

The event took place at The Poet presentation centre in Leslieville – a hub for the east end’s upcoming development, The Poet Condos.

“The eclectic flair of Leslieville is a big part of what makes

The Poet Condos a fantastic living opportunity and the arts and cultural ambiance of this neighbourhood is a big part of that,” says Dov Seidenfeld, Principal at Fieldgate Urban. “We’re excited to host Toronto’s newest literary ambassador and talented community members at The Poet, and we look forward to bridging the gap between urban growth and the inherent vibrancy found in Leslieville’s arts and cultural circles.”

The Poet presentation centre is located at 1170 Queen Street East. Visit www.ThePoetCondos. com for more information.

THE CITY’S MOST ELEGANT ARCHITECTURE THE THE THE CITY’S CITY’S CITY’S MOST MOST MOST ELEGANT ELEGANT ELEGANT ARCHITECTURE ARCHITECTURE ARCHITECTURE THE THE CITY’S CITY’S MOST MOST ELEGANT ELEGANT ARCHITECTURE ARCHITECTURE THE CITY’S MOST ELEGANT ARCHITECTURE 48-storeys pure perfection.

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ADVICE

How new homes stack up and exceed expectations wHen compared to resale dwellings

sue di ilio

Resale or new construction?

When purchasing a home, whether it be a condominium suite, a townhome or a detached home, you may find yourself at a crossroad when deciding between purchasing a newly built home or an existing resale home.

The choice you’re faced with can often be confusing, and for some, this can slow down the decision-making process.

Undoubtedly, resale homes are in direct competition with the homebuilding industry, but there are many advantages of buying new which are often overlooked. Here are a few of them....

1 2

3

No Bidding Wars – Bidding wars have become the norm in the resale world. New-home builders of highrise, midrise or lowrise projects offer a fabulous variety and you won’t have to enter into a competition to purchase. You get to choose the exact location of your home without having to compete with other buyers.

New-Home Warranties – Not available with most older resale homes, a Tarion warranty, and manufacturers’ warranties on specific items in your home, protect your investment.

Warranties cover workmanship and materials, and the structure of the building. Tarion’s pre-delivery inspection gives all homebuyers an opportunity to make a list of items that need tweaking before they move in, and covers major structural deficiencies for up to seven years.

Convenience - These days, time is a precious commodity.

With a new home, you choose your own fixtures and design elements, including flooring, faucets, and colour options and they will be installed and ready to go before you move into your new home. No waiting or renovation mess to worry about. …continued on page 40

32 New Home + Condo Guide | May 11–25, 2019

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CONDOS FROM THETHE $400’S TO OVER $1 MILLION CONDOS CONDOS FROM FROM THE $400’S $400’S TO TO OVER OVER $1 $1 MILLION MILLION CONDOS FROM THE $400’S TO OVER $1 MILLION CONDOS FROM THE $400’S TO OVER $1 MILLION REGISTER TODAY AT STCLAIRVILLAGE.COM CONDOS FROM THE $400’S OVER $1 MILLION REGISTER REGISTER TODAY TODAY AT ATTO STCLAIRVILLAGE.COM STCLAIRVILLAGE.COM REGISTER TODAY AT STCLAIRVILLAGE.COM

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VISIT OUR VISIT PRESENTATION OUR PRESENTATION 30’ + 36’ 30’ ++ 40’ 36’ + 40’ CENTRE CENTRE TODAY! TODAY! SinglesSingles & Bungalows & Bungalows 1414 King 1414 St. E., King Units St.PRESENTATION 29 E., & Units 30 29 & 30 OSHAW OA SHAWA VISIT VISIT VISIT OUR OUR OUR PRESENTATION PRESENTATION *+40’ 30’ 30’ + +36’ +36’ 36’ + +40’ 40’ * NEW NEW NEW RELEASE RELEASE RELEASE FROM 30’ FROM $599,900 $599,900 VISIT OUR PRESENTATION Oshawa, Oshawa, L1E 2B1 L1E 2B1 30’ + 36’ + 40’ NEW RELEASE VISIT OUR VISIT PRESENTATION OUR VISIT PRESENTATION OUR PRESENTATION CENTRE CENTRE CENTRE TODAY! TODAY! TODAY! 30’ + 36’ 30’ +Singles 40’ + 36’& 30’ +&Bungalows 40’ +Bungalows 36’ + 40’ NEW RELEASE NEW RELEASE NEW RELEASE NOW NOW NOW SELLING SELLING SELLING Singles Singles &Bungalows CENTRE TODAY! NOW SELLING CENTRE CENTRE TODAY! TODAY! CENTRE TODAY! Singles & Bungalows NOW SELLING NOW SELLING NOW SELLING SinglesSingles & Bungalows & Singles Bungalows & Bungalows 1414 1414 1414 King King King St.St. E., St. E., Units E., Units Units 2929 &29 & 30& 3030 ** ** OO SO S HS H AH A WA W AW A A ASK ABOUT ASKOUR ABOUT OUROUR STRESS-FREE OUR STRESS-FREE MORTGAGE OPTIONSOPTIONS * * * MORTGAGE

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PROPERTY PROFILE

enjoy a Downtown Mississauga conDoMiniuM

lifestyle at Kaneff’s Keystone Keystone by Kaneff is a brand-new residential development destined to change the pace of downtown Mississauga. Set against a spectacular ravine, this two-tower condominium offers residents the best of both worlds, with convenient access to the city and natural beauty right in its backyard.

Keystone by Kaneff offers residents a remarkable place to live and thrive, regardless of their lifestyle.

COnvEnIEnT LOCaTIOn

Located on Burnhamthorpe Road East, Keystone offers 36 New Home + Condo Guide | May 11–25, 2019

residents balance, with easy access to natural green spaces and Mississauga’s downtown core. Minutes away from an abundance of fine dining, Square One Shopping Centre, Mississauga Living Arts Centre, Whole Foods and Sheridan College, there is no shortage of entertainment and amenities for residents to enjoy.

Keystone is also a central point of access to major highways including Hwys. 403, 401, 410 and 407, and it is an eight-minute walk to the newly approved Hurontario Light Rail Transit System.

COnTEmPORaRY DEsIgn

Designed by Turner Fleischer Architects, the two towers are 20and 23-storeys high, marked by elements of contemporary design and progressive functionality from the inside out. The dynamism between aesthetic and function transcends the entire building, with a grand lobby that features 24-hour concierge service and beautifully appointed lounge areas for residents and guests.

Keystone features spacious residential suites with sleek finishes and elevated ceilings, ranging

C O M I N G

S O O N

Actual view from Terrasse

WHERE BETTER LIVING IS A MATTER OF COURSE. Boutique Luxury Condominiums

Kingston Rd. east of Victoria Park Ave. From the low $500s An enviable lifestyle awaits you overlooking the fairways of The Hunt Club and just moments from the Beach. Terrasse presents thoughtfully designed suites with exceptional finishes, a spa-inspired outdoor amenity space, gorgeous views of the lake and stunning two-storey penthouses.

Many will aspire to live here, but only a fortunate few will have the opportunity.

Register Now TerrasseCondos.com Illustration is artist’s concept. Specifications subject to change without notice. E. & O. E. Exclusive Brokerage: In2ition Realty Inc. Brokers Protected.

+ from 601 to 1,117 square feet.

Accommodating all household types, available floorplans include one bedroom-plus-den, two- bedroom, two-bedroomplus -den and three-bedroom designs. Standard features include 9- and 10-foot ceiling heights, custom-designed cabinetry, quartz countertops, ceramic tile backsplashes and soaker tubs.

Buyers can also customize their suites, choosing from professionally designed finishes and colour palettes by Graziani + Corazza, in accordance with their own unique style preferences.

38 New Home + Condo Guide | May 11–25, 2019

LuxuRY amEnITIEs

Keystone also enjoys a host of luxury amenities, including a rooftop terrace with skyline views, an outdoor pool, a state-of-theart fitness facility and yoga studio, a kids’ zone, study lounge, media room, pet facilities and guest suites.

Keystone by Kaneff is now available for purchase.

Prospective homebuyers can register online at keystonecondos. ca for priority access to information, special events and incentives, or visit the presentation centre located at 208 Burnhamthorpe East.

LOCaTIOn Mississauga buILDER Kaneff COmmunITY Keystone by Kaneff HOmE TYPE Condominium

saLEs CEnTRE 208 Burnthamthorpe Road East COnTaCT 905-454-2820

#beyond the city Must-see properties Including‌ semi-detached, detached, condominium suites & townhomes

In thIs sectIon:

Brantford, Caledonia, fonthill, GrimsBy, hamilton, niaGara, oakville, Welland & more

4 5 6

SMALL TOWN LIVING IS

7 8 9 10 11

…continued from page 32

New Construction is Better Built – The Ontario Building Code is constantly being improved and updated. Homebuilders are required by law to include these new standards in your new home or condominium suite. As a result, today’s homes include products that offer the latest advances in the way of technology, design, convenience and energy efficiency.

Latest in Design Concepts & Finishes – Most evident in ceiling heights, windows, kitchen layouts and bathroom designs, today’s interiors are more livable and cater to your family’s needs. Builders are constantly evolving their floorplans and features to adapt to current lifestyle trends.

Everything is New – Move in to a new home and everything — your bathroom, your kitchen, your appliances, your flooring — is new! It’s a fresh start for you and your family.

Low Maintenance – More and more, interior and exterior products and finishes being developed for new homes are geared to low-maintenance living. No need to spend your valued spare time repainting, replacing or resealing.

Your Choice – Today’s flexible floorplans are designed to improve your lifestyle and enjoyment of your home. Everything is built to your specifications and needs, not someone else’s.

Time to Plan And Save – As a result of occupancy and closing dates being much later than resale has to offer, it allows you to take the time to make plans for your move and to save for the necessary funds needed for closing day.

Master-Planned Communities - New communities have become more thoughtful regarding parkland, integrated bike paths and walkways, recreation and sustainability. They are no longer built just for the shelter of families.

Better Financial Packages – Often incorporated as part of the marketing of the new community, builders ensure that the various lenders are generous with the programs that they offer you. A discount on current rates is commonplace in the new home industry.

SEE PAGE 2 FOR MORE INFORMATION Sue Di Ilio is a veteran new-home sales manager at PMA Brethour. Having worked on various high- and lowrise communities throughout the GTA, her most recent successful endeavours include New Lawrence Heights by Metropia, Valera by Adi Developments, and Uptowns by Vandyk. Sue, and her associate Peter Comyns, are responsible for the presentation of PMA’s renowned two-day training program, Salesmasters. www.pmabrethour.com 40 New Home + Condo Guide | May 11–25, 2019

HOMES MADE FOR

Game on.

It’s called a living room for a reason. So, when friends gather round for game night, live it up. Pair a game board with a charcuterie board. Let the libations flow and the hilarity ensue. After all, game nights are just playdates for adults. From expansive living areas, to solid construction and high-end finishes, Sifton focuses on craftsmanship, so you can focus on life.

519.518.5007 | Sifton.com/HarrisView

NOW SELLING IN HARRISVIEW, INGERSOLL! 2 minutes from 401.

Homes starting from $487,500.

Trending

EmpirE CommunitiEs offers Co-op programs for students

Empire Communities, one of North America’s largest homebuilders, has partnered with McKinnon Park Secondary School to give high school students valuable work experience in the trades through the Empire Co-Op Program. This program provides students from the Caledonia school with handson experience as they participate in different stages of new-home construction at two of Empire’s master-planned communities, Avalon in Caledonia and Wyndfield in Brantford.

Since February 2019, a group of five students have been working at each site and will continue with their co-op until the end of the school year. Empire is also proud to present the Empire Communities Technological Award – a $1,000 scholarship – to one of the graduating students in the co-op program who excels and exceeded expectations.

This is intended to help support hard-working students who have a passion for the construction industry and will be pursuing a 42 New Home + Condo Guide | May 11–25, 2019

career in a related field.

“At Empire, we understand that there are unique learning experiences that only a co-op placement could provide, and we are thrilled about this collaborative partnership,” says Maria Pontes, Health and Safety Manager at Empire Communities. “Working with McKinnon Park, we have created an ideal co-op model that will give students the greatest opportunity for future growth.”

There are many unique programs offered to students at McKinnon Park Secondary School, such as the Specialist High Schools Major (SHSM) in hospitality, green industries, and/or construction. The SHSM program provides students with a red seal on their Ontario Secondary School diploma, noting the completion of specific graduation requirements.

“McKinnon Park appreciates our partnership with Empire Communities, which provides students with various experiential learning opportunities that will benefit them now and in the

future. We look forward to future opportunities with Empire that will continue to engage and benefit students,” says John Gerritsen, Senior Construction and Cooperative Education Teacher at McKinnon Park Secondary School.

In 2011-2012, Empire offered a co-op program to local Breslau high school students who participated in the construction of a home in our Riverland community. As Empire continues to build in new communities across Southwestern Ontario, there will be more opportunities to implement co-op programs like these in the future.

Empire Communities is a residential builder/developer involved in all sectors of the new homebuilding industry, including both low-rise and high-rise built forms. Since its inception in 1993, Empire has built over 15,000 new homes and condos. Today, Empire is one of the largest homebuilders in North America with current communities in Toronto, southwestern Ontario and the Southern United States.

WELCOMETO TOGORDON GORDONSQUARE SQUARE WELCOME WELCOME TO GORDON SQUARE

Your life isn’t standard Your lifehome isn’t standard Your shouldn’t be Your home shouldn’t be Hotel-inspired Amenities Hotel-inspired Amenities

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Now Available CASA DI TORRE Stoney Creek’s Fashionable Now Available Boutique Condo CASA DI TORRE FromStoney The Low $300’S Creek’s Fashionable Boutique Condo From The Low $300’S

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Branthaven Homes has always attracted those who want Homestheir has always more Branthaven from their lifestyle, attracted who want community andthose the home-owning more from their lifestyle, their experience.

As we approach our community thewavered home-owning 50th year we haveand never experience. we approach from our promise As to deliver “The our 50thHome year we havePrice.” never wavered Best Built at Any from our promise to deliver “The From Best contemporary Built Homecondos, at Any Price.” chic townhomes, classic singlecontemporary condos, familyFrom homes or carefree luxury chic townhomes, singleapartments, Branthavenclassic delivers family homes or carefree best-in-class living that elevatesluxury apartments, Branthaven delivers your everyday. best-in-class living that elevates Discover yourBranthaven’s everyday. modern architecture, fashionable interiors Discover Branthaven’s modern and legendary attention to detail. architecture, fashionable interiors Live The you have alwaysto detail. andLife™ legendary attention wanted. Live Branthaven.

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Functional Classic Luxury Style Functional Style Renderings are artist’s concept. Subject to change without notice. E.&O.E.

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Coming Soon HOMESTEAD Now Available The DI Lifestyle CASA TORRECollection Coming Soon 33’, 36’, 38’ &Fashionable 40’ Stoney Creek’s HOMESTEAD Detached Homes In Boutique Condo The Lifestyle Collection Mount Hope Hamilton From The Low 33’, 36’,$300’S 38’ & 40’ Detached Homes In Mount Hope Hamilton

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Coming Soon Now Renting In Oakville WINONA COUNTY THE TAUNTON APARTMENTS The Lifestyle Oakville’s Only Collection Luxury Coming Soon 36’ & WINONA 40’ Detached Homes Apartment Rentals COUNTY In AnThe Escarpment Lifestyle Enclave Collection 36’ & 40’ Detached Homes In An Escarpment Enclave

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ADVICE | ConDo pro

BILD A PHENOMENAL RESOURCE FOR NEW CONDO BUYERS

BARBARA LAwLOR

New home and condominium buyers in Ontario are wise to do their “homework” before signing on the dotted line.

This includes knowing exactly where they stand when they purchase new. One of the many invaluable resources for pertinent information is BILD, the Building and Land Development Association. This progressive organization recently created an innovative interactive website called BuildingAnswers.ca. The association invites people to ask 46 New Home + Condo Guide | May 11–25, 2019

questions about the building and land development industry in the Greater Toronto Area – and with the amount of construction going on, there are surely questions. BILD’s commitment is to answer honestly, factually and openly.

The website has many frequently asked questions already answered, such as: • How do parks and public spaces benefit from new housing and developments?

• What makes up the cost of a new home or condominium?

• How does new housing and development support public infrastructure?

• How is land for housing developments chosen?

• Does the home building and land development industry have a code of ethics?

• Are environmentally friendly homes being developed in the GTA? • What laws and regulations govern the home building and development industry?

• I found one question in particular fascinating: “Do we really need all of the condominium and other housing developments being built in the GTA?” The short answer is YES! The more detailed answer is that last year, the number of new homes and condos was about 100,000 short of what the Ontario Growth Plan set out in 2006. The Ontario Ministry of Finance

estimates that by 2041, the GTA’s population will rise to 9.7 million from 6.9 million today. That amounts to about 115,000 new residents every year. We already have a housing shortage, so you get the picture.

Another thing BuildingAnswers.ca helps new home and condo buyers do is to put things into perspective. For example, provincial government policies and regulations, along with municipal governments’ city plans and bylaws determine the pace, scale and location of development – NOT developers and homebuilders. Consumer demand plays a role as well.

The overall picture is complex. You can see why it is a challenge for developers and builders to realize their original plans. We all have to work together to ensure sufficient housing and public institutions such as schools and hospitals can handle the ongoing population rises.

We also need commuting infrastructure, which is always a challenge.

Industry professionals are working hard to accommodate these needs by building communities and homes, and by investing in infrastructure, transit, schools and roads.

These are just some of the questions that are answered on the website. As someone who is purchasing or thinking of purchasing, you must have questions. According to BILD, “Our goal is to provide you with accurate information on how the building and land development 48 New Home + Condo Guide | May 11–25, 2019

industry is working with residents, communities and the governments to build a livable GTA for all.”

So, make BILD one of your research resources. Remember, that’s BuildingAnswers.ca Barbara Lawlor is president and CEO of Baker Real Estate Incorporated, winner of the pinnacle 2017 Riley Brethour Award from BILD, and an in-demand columnist and speaker.

A member of the Baker team since 1993, she oversees the marketing and sales of condominium developments in the GTA and overseas. Keep current with The Baker Blog at blog.bakerrealestate.com

+MORE aDVICE ONLiNE nexthome.ca/news/advice

A SOPHISTICATED LIFEST YLE

in fonthill

A JEWEL IN FONTHILL. The first in the One Fonthill Condominium Collection, One Twenty is a stunning showcase of Mountainview’s incredible design choices and trusted building standards.

1

Enjoy four storeys of luxury suites in one of Niagara’s most sought-after neighbourhoods.

FROM THE LOW $400s!

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2 BEDROOMS WITH DEN VISIT OUR SALES OFFICE: 130 Highway 20, Unit C-1, Fonthill (in the Food Basics Plaza)

Monday, Wednesday, Thursday 1–6 p.m.

Saturday, Sunday 1–6 p.m.

Tuesday, Friday by appointment only Rendering is an artist concept. E.&O.E. Subject to availability.

onetwentycondos.ca | 289.897.8548

PROPERTY PROFILE

better living comes to whitby with the launch of Park vista Enjoy better living and breath in the fresh country air and the gaze at endless vistas of greenspace at Park Vista.

Launching this May by two of the GTA’s most reputed builders – Fieldgate Homes and Paradise Developments – Park Vista is the first community in Whitby to be 50 New Home + Condo Guide | May 11–25, 2019

surrounded by lush greenspaces and scenic views from every direction and offer purchasers better living.

Finding the perfect home isn’t just about the neighbourhood but the ease of maintaining a healthy and active lifestyle. Nestled alongside acres of permanent

green space, Park Vista is only minutes from the pristine Whitby shoreline featuring 14 kilometres of scenic waterfront nature trails, marinas, and an expansive boardwalk. Enjoy leisurely activities such as boating, canoeing, and kayaking alongside 68 kilometres of recreational trails,

127 playgrounds and more than 950 acres of lush, protected parklands.

Offering exquisite semidetached homes from the mid$500s, Park Vista is also the only community in Whitby to offer Luxury Plus homes featuring nineft. ceiling heights, 10-ft. coffered/ tray ceilings in master bedrooms, hardwood flooring, granite kitchen countertops, extended upper kitchen cabinets, freestanding soaker tubs in ensuite bathrooms, and oak staircases.

Each home will also be offered in both contemporary and traditional elevations.

One study by the Harvard T.H. Chan School of Public and Bringham and Women’s Hospital found that living in or near green spaces resulted in

women, in particular, living longer with improved mental health.

And even though men were not commissioned for the study, the results determined that living outside a busy urban setting helps to promote lifelong health and wellbeing, as reported by Global News.

Residents at Park Vista are close to key social and recreational amenities, including a variety of both private and public schools, sport/entertainment facilities, and a variety of retail establishments.

Park Vista is also just minutes from the new Hwy. 412, which links to both Hwys. 401 and 407 for easy commuting.

+

LOcaTIOn Whitby BuILdERs Fieldgate Homes and Paradise Developments cOmmunITY Park Vista HOmE TYPE Semi-detached homes cOnTacT parkvista.ca

For more information on Park Vista and to attend the May launch, visit www.parkvista.ca and register today. nexthome.ca  51

52 New Home + Condo Guide | May 11–25, 2019

Freehold ownership Freehold means permanent and absolute tenure of land or property with freedom of full use and control of the land and buildings on it, subject to any rights of the Crown, local land-use bylaws and any other restrictions in place at the time of purchase

Adjustable-rate and fixed rate mortgages There are generally two types of conventional mortgages – a fixed-rate and an adjustablerate mortgage. An adjustablerate mortgage means the interest rate can change over the term of the loan. A fixedrated mortgage simply means that the interest rate stays the same through the entire term of the mortgage and is “locked in”.

Assessed value

In addition to the actual price of a home, there are also closing costs, which will typically make up about two to five percent of the purchase price, not including the down payment. Examples of closings costs include the mortgage processing costs, title insurance, and excise tax, and legal fees.

The percentage of your gross monthly income that housingrelated payments (mortgage, property taxes and heating) eats up. Depending on your situation, to qualify for a mortgage, your GDSR should be 39 per cent (or less) of your gross monthly income.

This is how much a home is worth according to a public tax assessor who makes this determination in order to figure out how much city or state tax the owner owes.

Closing

Condo ownership

Condominium ownership is real estate that is independently owned and sellable, but the owners of the individual units also collectively own the common areas, amenities and utilities which are managed collectively by the owners as outlined in the Ontario Condominium Act.

Gross debt service ratio

Closing refers to the meeting that takes place where the sale of the property is finalized. At the closing, buyers and sellers sign the final documents, and the buyer makes the down payment and pays closing costs. It is advisable to have a lawyer facilitate closing.

Debt to service ratio

Amortization

This process combines the interest and principal together in an established schedule of payment installments, rather than simply paying off interest at the start, which helps build home equity early on.

Closing costs

REAL ESTATE GLOSSARY

This amount shows the ratio of your household’s debt payments to gross household income. Banks look at this when assessing how much money to loan you.

HOT PROPERTIES

find your next home

The latest properties in the greater toronto Area to keep your eye on

Gta prevIew reGistration 1. saturday in downsview park By: Mattamy Homes City: Toronto, North York Housing type: Condominium mattamyhomes.com

2. suGar wharf By: Menkes City: Toronto Housing type: PATH-connected waterfront condos menkes.com

3. klein estates By: Lindvest City: Kleinberg Housing type: Upscale detached homes on 42 and 50 ft. lots lindvest.com

4. Bijou on Bloor By: Plaza City: Toronto Housing type: Condo pureplaza.com

5. whitBy meadows By: Fieldgate Homes Location: Whitby Housing type: Detached fieldgatehomes.com

6. adena views By: Treasure Hill City: Aurora Housing type: Luxury singles on 36, 40, 45 and 60 ft. lots treasurehill.com

7. 543 richmond By: Pemberton City: Downtown Toronto Housing type: Condo pembertongroup.com

8. trendi By: Treasure Hill City: Markham Housing type: Phase 3 release of modern townhomes. Register now. treasurehill.com

10. the united BldG. By: Davpart City: Toronto Housing type: Heritage retrofit condominium building theunitedbuilding.com

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11. xo condos

f. Go.2

By: Lifetime Developments City: Toronto Housing type: Condo xocondos.com

By: Pemberton City: Toronto Housing type: Condominium Pembertongroup.com/go2

12. 55 charles residences By: Mod Developments Inc. City: Toronto Housing type: Condo 55charlesresidences.com

13. moBilio By: Menkes City: Toronto Housing type: Condo menkes.com/mobilio

14. sunny meadow By: Daniels City: Brampton Housing type: Condo townhomes SunnyMeadowBrampton.ca

15. Gallery towers By: The Remington Group City: Downtown Markham Housing type: Condominium downtownmarkham.ca

16. st. clair villaGe By: Canderel City: Toronto Housing type: Condominium stclairvillage.com

new openinGs B. upper valleylands By: Fieldgate Homes City: Brampton Housing type: Semis, single-detached and freehold townhomes from upper $500s fieldgatehomes.com

h. aqualuna By: Tridel City: Toronto Housing type: Condo tridel.com/aqualuna

i. ninth + main By: Pemberton City: Stouffville Housing type: Condo and towns pembertongroup.com/stouffville/

j. evermore By: Tridel City: Etobicoke in Toronto Housing type: Condo Tridel.com

k. auBerGe on the park By: Tridel City: Toronto Housing type: Condo www.tridel.com/auberge

l. tricycle condominiums By: Lash Group City: Toronto Housing type: Condo tricyclecondos.com

m. keystone By: Kaneff City: Mississauga Housing type: Condo keystonecondos.ca

n. terrasse at the hunt cluB By: Sunrise Gate Kingston Ltd. City: Toronto Housing type: Condo TerrasseCondos.com

c. saturday in downsview park By: Mattamy Homes City: North York Housing type: Mid-rise condominium mattamyhomes.com

d. impressions By: Fieldgate Homes City: The Village of Kleinburg Housing type: Luxury singles fieldgatehomes.com

e. kinGsview ridGe By: Treasure Hill City: Oshawa Housing type: Bungalows and single detached homes treasurehill.com

maps Locate properties using the map on the following page

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 nexthome.ca  53

HOT PROPERTIES | GREATER TORONTO AREA

A

F D 3

1

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12

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cartography: marketmaps.com

MAP LE GE N D

Trending

Tax informaTion you need to know if you buy or sell a home Even though tax season has officially has passed, Canada Revenue Agency (CRA) has information to help you if you plan to buy or sell a home in the future.

PrinciPal residence exemPTion

When you sell your principal residence, did you know that any profit (capital gain) may be exempt from taxes? In fact, if your home was your primary residence for every year that you owned it, you do not have to pay tax on the capital gain.

Your principal residence can be any of the following: • a house, cottage or condominium • an apartment in an apartment building or a duplex • a trailer, mobile home, or houseboat

In order for a property to qualify as your principal residence: • You must own, or jointly own the property.

• You, your current or former spouse or common-law partner, or any of your children must have lived in the property at some time during the year.

To benefit from the principal residence exemption you must report the sale appropriately on your income tax and benefit return. How you do so can vary depending on whether the property you sold was your principal residence for the entire time you owned it. Only one property can be designated as a principal residence per tax year per family unit. A family unit includes you, your current or former spouse (or common-law partner) and any children under the age of 18.

Homebuyers’ amounT

You can claim the homebuyers’ amount of up to $5,000 on your income tax and benefit return for a particular year if both of the following apply: • you or your spouse or commonlaw partner acquired a qualifying home; and • you did not live in another home owned by you or your spouse or common-law partner in the year of acquisition or in any of the four preceding years (first-time homebuyer).

You do not have to be a firsttime homebuyer if you are eligible for the disability tax credit or you acquired the home for the benefit of a related person who is eligible for the disability tax credit.

Eligible homebuyers can complete line 369 of Schedule 1 of their income tax and benefit return. …continued on page 60

56 New Home + Condo Guide | May 11–25, 2019

HOT PROPERTIES

find your next home The latest properties in southwestern ontario to keep your eye on 7. the oaKes

g. fallingWaters

By: Treasure Hill City: Oakville Housing type: 41 and 45 ft. detached family homes TreasureHill.com

By: Losani Homes City: Stoney Creek Housing type: Luxury townhomes email: Pronto@LosaniHomes.com

8. valera 2

By: Mountainview Homes City: Thorold Housing type: Townhomes, detached homes timberwoodestates.ca

By: Adi Developments City: Burlington Housing type: Condominiums adidevelopments.com

9. homestead

i. saffron estates

By: Branthaven Homes City: Mount Hope in Hamilton Housing type: 33, 36, 38 & 40 ft. singles branthaven.com

By: Mountainview Homes City: Fonthill Housing type: Townhomes, detached homes saffronestates.ca

10. Winona county

sWo prevIew registration 1. casa di torre By: Branthaven Homes City: Stoney Creek Housing type: Condos from 550 to 978 sq. ft. from the low $300’s branthaven.com

2. one tWenty condominiums By: Mountainview Homes City: Fonthill Housing type: Condominiums mountainview.com

3. the mcKenzie By: Losani Homes City: Caledonia Housing type: Towns and singles mckenziecaledonia.ca

4. Brant West By: Losani Homes City: Brantford Housing type: Towns and singles brantwest.com

5. the Peninsula By: Losani Homes City: Paris Housing type: Towns, semis and singles parispeninsula.com

6. synergy By: Branthaven Homes City: Oakville Housing type: Urban trailside condos branthaven.com

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h. timBerWood estates

By: Branthaven Homes City: Winona county Housing type: 36 & 40 ft. singles branthaven.com

neW oPenings a. lyon’s creeK By: Mountainview Homes City: Niagara Falls Housing type: Semis lyonscreekhomes.com

B. vista ridge By: Losani Homes City: Beamsville Housing type: Townhomes and detached losanihomes.com

c. sParroW meadoWs By: Mountainview Homes City: Welland Housing type: Singles and townhomes sparrowmeadows.com

d. lincoln estates By: Losani Homes City: Lincoln Housing type: Single-detached homes losanihomes.com

e. elements By: Mountainview Homes City: St. Catharines Housing type: Luxury oneand two-bedroom condos elementscondo.com

f. the Preserve By: Mattamy Homes City: Oakville Housing type: Townhomes mattamyhomes.com

J. simPly grand By: Losani Homes Location: Paris Housing type: semis and singles losanihomes.com

K. nautique By: Adi Developments City: Burlington Housing type: Condominium adidevelopments.com

l. harrisvieW By: Sifton City: Ingersoll Housing type: Detached homes sifton.com/HarrisView

m. eleven 11 clarKson By: Saxon Developments City: Mississauga Housing type: Terraced urban townhomes 1111Clarkson.ca

n. gordon square By: Tricar City: Guelph Housing type: condominium Tricar.com/gordon

o. deer Path By: Fernbrook Homes City: Guelph Housing type: Towns from $499,990 Deerpath.ca

maPs Locate properties using the map on the following page

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 nexthome.ca 57

HOT PROPERTIES | SOUTHWESTERN ONTARIO AREA

kITcHENER–WATERlOO

Guelph N

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Waterloo Kitchener

Milton

Cambridge

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Brantford

Hamilton

5

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lONdON

L 3

London

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58 New Home + Condo Guide | May 11–25, 2019

Mississauga

MAP LE GE N D

m 7

NEW HomEs

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NEW CoNDos

Oakville

Burlington

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Niagara Falls

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…continued from page 56

Home buyers’ Plan

You may be eligible to participate in the Home Buyers’ Plan which allows you to withdraw funds from your registered retirement savings plans (RRSPs) to buy or build a qualifying home for yourself.

Budget 2019 proposes to increase the Home Buyers’ Plan withdrawal limit to $35,000, to provide firsttime homebuyers with greater access to their RRSP savings when purchasing a home. This amount is available for withdrawals made after March 19, 2019. Buyers have up to 15 years to repay the amounts they withdraw.

To qualify for the Home Buyers’ Plan, you have to meet these two conditions: • you are a first-time homebuyer • you have a written agreement to buy or build a qualifying home for yourself You are considered a first-time homebuyer if, in the preceding four-year period, you did not live in a home that you or your spouse or common-law partner owned1.

60 New Home + Condo Guide | May 11–25, 2019

You must intend to live in the qualifying home as your principal residence within one year of buying or building it.

For more information on the GST/HST new housing rebate, refer to guide RC4028, GST/HST New Housing Rebate.

Home buyers’ Plan for Persons wiTH disabiliTies

Home accessibiliTy exPenses

You do not have to be a firsttime homebuyer to participate in the Home Buyers’ Plan if you are eligible for disability tax credit or if you are helping a related person who is eligible for the credit buy or build a home. The purchase or construction must be done to allow a person with a disability to live in a home that is more accessible or better suited to their needs.

If you are a qualifying individual (65 years of age or older at the end of 2017 or eligible for the disability tax credit) or an eligible individual claiming certain tax credits for a qualifying individual, you may be able to claim eligible expenses paid for renovations that make your dwelling more accessible. sTay connecTed

gsT/HsT rebaTe on new Homes in canada

To receive updates when new information is added to the CRA website, you can:

If you bought a newly constructed home from a builder, you may be able to claim anew housing rebate for some of the goods and services tax/harmonized sales tax (GST/HST) you paid.

If you constructed or substantially renovated a house for use as your primary place of residence, you may also be eligible for this rebate.

• Follow the CRA on Facebook • Follow the CRA on Twitter – @CanRevAgency • Follow the CRA on LinkedIn • Subscribe to a CRA electronic mailing list • Add the CRA RSS feeds to your feed reader • You can also watch CRA’s taxrelated videos on YouTube

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