Greater Toronto Area June 22–July 6, 2019
The first and only complete guide to pre-construction homes and condos
LIFE ON THE RIVER IS POSSIBLE YES YOU CAN BUY A CONDO AT THE HUMBER.
INSIDE:
WHEN YOUR MOVE-IN DATE CHANGES
A COTTAGE IN THE SKY
Renderings are Artist’s Concept. E&O.E.
Connected living, steps from Vaughan Metropolitan Centre Subway Station
Be moved. Introducing Mobilio, a new neighbourhood in Vaughan Metropolitan Centre offering condominium and townhome residences. With easy access to major highways and walking distance to the subway, Mobilio is convenience and community redefined. Inspired by Italian design, today’s urban professionals and families will enjoy living steps from transit options, exciting shops and restaurants, a busy commercial district, and beautiful parks. Live, work and play in the heart of a growing, master-planned community by acclaimed developer, Menkes.
AS THE PREMIER BUILDER OF MIXED-USE COMMUNITIES IN THE GREATER TORONTO AREA, MENKES DELIVERS OUTSTANDING QUALITY AND LASTING VALUE.
COMING SOON TO VAUGHAN METROPOLITAN CENTRE
CONDOMINIUMS & TOWNS | REGISTER AT MENKES.COM/MOBILIO
Coming this Fall to Hamilton
Introducing Waterworx, a modern boutique townhome community in an urban setting. Located in the heart of flourishing east Hamilton, Waterworx will be minutes away from shops, cafes and restaurants, and conveniently situated close to public transit and highway access.
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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.
2019 HOME BUILDER OF THE YEAR 2019 GREEN BUILDER OF THE YEAR 2019 BEST CUSTOMER CARE 2019 STEPHEN DUPUIS CORPORATE SOCIAL RESPONSIBILITY AWARD *Awarded by the Building Industry and Land Development Association. ©Tridel 2019. ®Tridel and “D” design are registered Trademarks of Tridel Corporation. Project names and logos are Trademarks of their respective owners. All rights reserved. Building and view not to scale. Illustrations are artist’s concept only. E.&O.E. June 2019.
Live. Eat. Shop. Work. Play. Tridel, Canada’s leader in residential living, introduces Toronto’s most anticipated condominium lifestyle at The Well. It’s a bold reflection of Toronto’s energy and diversity, and an extension of the urban vibrancy of King West. This astounding development includes residential, retail, offices, and rentals in downtown Toronto at Front and Spadina.
VISIT THE PRESENTATION CENTRE AT 4800 DUFFERIN STREET. TRIDEL.COM
CONTRIBUTORS
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
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
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. blog.bakerrealestate.com
sAles & mArkeTing co-orDinATors
Gary Chilvers Sarah Khan distribution
distributionteam@nexthome.ca AccounTing inquiries
accountingteam@nexthome.ca DirecTor of PrinT meDiA
Lauren Reid–Sachs
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.
grAPhic Designer & coorDinATor
Alicesa Pullan grAPhic Designers
Sandra Hanak–Vujnovic, Johannah Lorenzo, Mike Terentiev, Kathleen Walker, Alice Wu, Hannah Yarkony Published by
style file | sara duck With more than a decade of experience in the magazine world, Sara Duck brings her passion for writing and expert eye for what’s on trend to our pages.
TARION REPORT | HOWARD BOGACH Howard bogach is president and CEo of tarion Warranty Corp. For more information about how tarion helps new-home buyers, visit tarion.com
nexthome.ca Advertising call 1.866.532.2588 for rates and information. fax: 1.888.861.5038 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. Copyright 2019 All rights reserved. reproduction, storage in a retrieval system or transmission, in any form or by any means, whether electronic, mechanical or otherwise, in whole or in part, without prior written permission of nexthome is strictly prohibited. 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 | June 22–July 6, 2019
Editor’s notE
Looking for home-buying heLp?
SuSan Legge Editor-in-chiEf new Home + Condo Guide
Last issue, I mentioned a new report from Mortgage Professionals Canada’s (MPC), Chief Economist Will Dunning regarding how stress tests will contribute to a decline in housing activity in Canada (check out nexthome.ca/stress-test-impact online for the article and report). But what about you, the homebuyer? If you’re caught in a stress-test conundrum, meaning you’re not able to qualify because you can’t afford a mortgage at two per cent above the current posted five-year rate, consider Michelle’s Hopkin’s story on basement apartment rentals on page 56 for some inspiration and possible relief. Always be honest with yourself about whether your budget can handle higher payments. The stress test was created to ensure that if rates shoot up, you’re able to handle the increase in your payments. And, with so much hype around renting out our properties on sites such as Airbnb, you may be curious to know more about how short-term rentals work. Check out this issue’s Legally Speaking column on page 20 for more information regarding making your property a source of short-term rental income. Homeshopping and renting out your home is not for the faint of heart. Be sure to get all the facts from the experts on our website, nexthome.ca. If you’d like the latest New Home + Condo Guide news to be delivered to your inbox, please sign up at nexthome.ca/ subscription to receive our newsletter. Thanks for reading, and we hope you enjoy this issue.
Email: susan.legge@nexthome.ca twittEr: @SusanLegge
a condo is your CoTTAge in The Sky 30
Short-term renTALS 20
+ get social
interact with us on social media: nexthome
8 New Home + Condo Guide | June 22–July 6, 2019
June 22–July 6, 2019 | volume 28, issue 14
Contents
16 on the CoVeR:
the Humber Condos Live in the city, be surrounded by nature
10 New Home + Condo Guide | June 22–July 6, 2019
32 pRopeRty pRofiles
30 condo Pro
26 mod Developments Introducing the luxurious 55C in Bloor- Yorkville
29 Davpart
18
mortgage stress Tests New report examines the impact of stress tests
32
35
44 Tarion Report
By saRa Duck
in eVeRy issue
When your move-in date moves
6
contributors
By hoWaRD Bogach
52
glossary
53
hot Properties gTa
57
hot Properties sWo
61
advertiser index
æ Beyond The City featuRe
56 homebuying help
launch Watch
Basement rentals can help you get into the housing market
Mayor Tory helps launch Tridel’s new condominium residences at The Well
tRending
Behind the scenes
38
Q+A with marketing whiz, Linda Mitchell Young
Make a good first impression
By BaRBaRa laWloR
United Building continues evolution of University Ave.
tRending
50 style File
A condo is your cottage in the sky
64 What’s online
Tax schemes CRA warns Canadians about limited partnership real estate investments
adViCe
12
BilD Report The elephants in the room By DaviD Wilkes
20 legally speaking Understanding short-term rentals By Jayson schWaRz
24 stat chat Is this an oversupply of condos or analysis? By Ben myeRs
26 11
ADVICE | bIlD rEport
The elephanTs in the Room
– Barriers To AffoRdAbility And Supply
dAve WilkeS
Virtually everyone in the GTA is aware that the region has a housing supply and affordability challenge. Not a day goes by that there isn’t some form of news covering one angle of the topic or another. Issues include housing availability, increasing rents, the costs associated with construction and increased density as the building industry works to 12 New Home + Condo Guide | June 22–July 6, 2019
meet demand. Over the last few weeks, BILD has been running “The Elephants in the Room” ads in magazines and newspapers in the GTA to highlight some of the facts around these issues. Housing supply and affordability are complex issues. Many factors have influenced and contributed to the current status quo in the region and all deserve to be examined carefully and accounted for. The building and land development industry is highly regulated in Ontario. It is arguably the most regulated housing industry in North America and this leads to one unavoidable fact. While homes
are sold or rented (with some exceptions, such as social housing) based on free market demand, the supply of new homes is heavily influenced by the regulatory environment of the province and municipalities. This non-market influence is a key reason why the number of housing units built in the region since 2006 has fallen short of projected demand by almost 100,000 units. This leads us to unfortunate realities that are impossible to ignore if we want new residents and young people to be able to afford to buy a home in the GTA in the future. …continued on page 14
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“Lindvest”, “Lindvest”, “Lindvest”, the Lindvest the the Lindvest Lindvest logo logo andlogo and “Life and “Life Happens “Life Happens Happens Here” Here” are Here” trademarks are are trademarks trademarks of Lindvest of Lindvest of Lindvest Marketing Marketing Marketing Limited Limited Limited and and are and used are are used under used under license. under license. license. Reproduction Reproduction Reproduction in any in form, any in any form, without form, without without priorprior written prior written permission written permission permission of of of Lindvest Lindvest Lindvest Marketing Marketing Marketing Limited, Limited, Limited, is strictly is strictly is prohibited. strictly prohibited. prohibited. Renderings Renderings Renderings are artist’s are are artist’s concept artist’s concept concept only.only. Map only. Map notMap to notscale. not to scale. toPricing, scale. Pricing, Pricing, specs specs and specs and availability and availability availability subject subject subject to change to change to without change without without notice. notice. E.&O.E. notice. E.&O.E. E.&O.E. .and Reproduction “Life Happens in any Here” form,are without trademarks “Lindvest”, prior written of theLindvest Lindvest permission Marketing logo and of Limited “Life Happens and areHere” used under are trademarks license. Reproduction of Lindvest Marketing in any form, Limited without andprior are used written under permission license. of Reproduction in any form, without prior written permission of “Lindvest”, the Lindvest logo and “Life Happens Here” are trademarks of Lindvest Marketing Limited and are used under license. Reproduction in any form, without prior written permission of mited, d availability is strictly subject prohibited. to change Renderings without Lindvest are notice. artist’s Marketing E.&O.E. concept Limited, only. Map is strictly not to prohibited. scale. Pricing, Renderings specs and areavailability artist’s concept subjectonly. to change Map not without to scale. notice. Pricing, E.&O.E. specs and availability subject to change without notice. E.&O.E. Lindvest Marketing Limited, is strictly prohibited. Renderings are artist’s concept only. Map not to scale. Pricing, specs and availability subject to change without notice. E.&O.E.
…continued from page 12
ElEphAnt numbEr 1 – The layers of bureaucracy and red tape the building industry must comply with prior to building has significantly lengthened the time it takes to build new homes and communities. On average, across the GTA, it takes 10 years to complete a typical high-rise project and 11 years to complete a typical low-rise project. This delays new product coming to market, exacerbating the supply/ demand imbalance, and maintains inflationary pressure on the cost of new homes. ElEphAnt numbEr 2 – There are over 100,000 new housing units that developers would like to build that would significantly help with the supply/demand imbalance; however, they are currently stuck in a bureaucratic logjam at the Local Planning Appeal Tribunal (LPAT). If those projects are approved, it would 14 New Home + Condo Guide | June 22–July 6, 2019
significantly help with housing supply and consequently affordability. ElEphAnt numbEr 3 – The inability to meet housing demand has led to lost jobs and tax revenue shortfalls that could have benefited the Canadian economy. Altus Group modelling on the economic impact of unmet housing supply from 2006-2018, shows 231,000 lost person years in employment, $26 billion in lost GDP and almost $10 billion in lost revenue for all levels of government (HST, property tax and development charges). ElEphAnt numbEr 4 – Aside from the supply/demand imbalance inflating the price of homes, the taxation of homes at all stages of construction exacerbates affordability. Land transfer taxes, HST, parkland fees and development charges collectively add 24 per cent to the
cost of an average new condo in the GTA and 22 per cent to the cost of an average new singlefamily home. We know that population in the region is projected to continue to increase by nearly 40 per cent through 2041; meaning demand for new homes will continue to increase. We applaud the provincial government for taking bold steps under its Housing Supply Action Plan. We’ve all been ignoring the elephants in the room for too long. 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
CONDOMINIUMS
R I V E R S I D E L I V I N G AT LAWRENCE & WESTON
Buy A 3-Bed Condo With
l a t o T 0 0 0 , $40
*
Down Payment!
Get A 15% Boost From Options For Homes. Find Out How!
TheHumber.ca CONSTRUCTION STARTING SOON! Terms and conditions may apply. Subject to availability. Prices and specifications subject to change without notice. E&O.E. Illustration is artist’s concept. *Represents 5% of the purchase price.
Cover Story
Live iN The CiTy, be surrounded by nature at
The humber CONDOS One of Toronto’s great urban waterways, the Humber River is a lush ribbon that bisects the concrete jungle. Strolling along the river’s path, it’s easy to forget that the city is bustling just a few hundred metres away; instead, you’re immediately surrounded by nature. A family of ducks here, a cluster of wild flowers there, and a steady flow of runners and cyclists enjoying its trails leading to the lake. This river oasis is a gem of the city. It also happens to be the setting of The Humber, an upcoming condo community that offers the opportunity to live next to unbridled nature while having easy access to the urban 16 New Home + Condo Guide | June 22–July 6, 2019
vitality of downtown Toronto – and a down payment boost that makes home ownership more accessible for everyone. The Humber is nestled on the banks of the river just south of at Lawrence Ave. W and Weston Rd. in Weston Village, one of Toronto’s upand-coming neighbourhoods. With parkland trails at its door and uninterrupted, Instagramworthy southwest views on the river’s bend that will never be obstructed, this 232-unit, 22-storey condo is an outdoor enthusiast’s dream. Meanwhile, city life is never far away. Located a mere threeminute walk from the Weston
UP Express stop, it’s only a quick 15-minute zip to Union Station or 12 minutes to Pearson. Whether you’re up for a night on the town or looking to take flight, it’s all within easy reach. With The Humber, which is developed by Options for Homes and built by Deltera (part of the Tridel Group of Companies), you can be assured of high-quality condos at more affordable prices. It’s something that Options has been doing for 25 years (including the first three buildings in The Distillery District and a development in The Junction). Prices are kept as low as possible by forgoing costly amenities like pools, while investing in
beautiful common spaces and environmental features such as solar panels. This helps keep maintenance fees low and stable, which are a city-low of $0.49 per square foot. Options also brings home ownership within reach with its down payment boost of up to 24% for families making their first purchase, and requiring only 5% total down payment. “We’re able to help families who can afford the carrying costs of home ownership by giving them an extra down payment boost,” says Options for Homes director of sales and marketing Mary Pattison. “That’s often all someone needs to become a homeowner.” Because Options only sells to homeowners and not to investors, life at The Humber is ideally suited for families and those who value community. “We’re very focused on doing all we can to make sure that we build homes for people to live in,” says Pattison. “We strive to create communities that people can be proud of.” With a large percentage of 2- and 3-bedroom suites, The
“
A down payment boost is often all someone needs to become a homeowner.
”
Humber is designed to suit the needs of families of all sizes. It’s also pet-friendly, as homeowners are able to own up to two pets, and its Smoke Less policy – which permits only vaping of tobacco or cannabis in the building, including private homes – mitigates the negative impacts of smoking for all of The Humber’s residents. The Humber is also set amid a neighbourhood brimming with urban renewal. Weston already boasts renowned community events and amenities such as the Weston Farmers’ Market (the city’s oldest), its own Santa Claus parade, Weston Lions Park and arena. But now it’s getting a cultural boost with the Artscape Weston Commons, which is home to artist housing, Urban Arts and Shakespeare in Action. Quality, community and unparalleled natural beauty are hallmarks of The Humber.
With excellent transit options, a rejuvenating neighbourhood, and down payment support that makes home ownership possible, The Humber is a perfect place to call home.
+
Location Toronto deveLoper Options for Homes deveLopment The Humber Home type Highrise SaLeS centre 1984 Weston Rd. contact TheHumber.ca
nexthome.ca 17
TRENDING
New report
examines impact of mortgage stress tests The federal government is getting more heat about its mortgage stress test, this time from Mortgage Professionals Canada (MPC), the national mortgage industry association representing mortgage brokers, lenders, insurers and industry service providers. A report from MPC Chief Economist Will Dunning released in May 2019 outlines in detail how stress tests have contributed to a decline in housing activity in Canada, including the construction of lowrise homes, which are now in the process of a downturn. “Each housing start that is lost has an economic impact that is 10 times greater than for each lost resale transaction,” says Dunning. “The adjustments for new construction occur quite gradually. The economic impacts have barely 18 New Home + Condo Guide | June 22–July 6, 2019
“
Each housing start that is lost has an economic impact that is 10 times greater than for each lost resale transaction…
”
begun, will develop slowly, and won’t be fully experienced until the second half of 2021.” MPC said in a news release that the report is a plea to the federal government to start considering changes quickly to avoid the consequences. “For some time, our association and others have emphasized that the major defect within the stress tests is that they fail to consider the income growth that will be experienced by the mortgage
borrowers,” says Paul Taylor, president and CEO of MPC. “At two percentage points above the actual contracted rates, the stress tests on insured and uninsured mortgages are causing serious and undue negative impacts to the Canadian economy and to the housing market. We advocate for prudent amendments to the current framework. This includes a stress test of 0.75 percentage points to account for higher income and reduced mortgage principal.”
F I R ST R E L E A S E S O L D O U T. S ECO N D R E L E A S E CO M I N G S O O N TO K I P L I N G + D U N DA S .
The best way to end Mondays, rainy days... and every day.
Wh e re l i fe sta r ts. t h e k i p d i st r i c t.co m Priced from the mid $300’s.
Prices, availability, design and specifications subject to change without notice. E.&O.E. June 2019.
ADVICE | lEgAlly spEAkIng
SHORT-TERM RENTALS by JacquElinE MOnETa JD wiTH aSSiSTancE fROM JaySOn ScHwaRz llM
With vacancy rates down to 1.1 per cent in Toronto and 1.8 per cent across Ontario many residents are pointing their fingers at short-term rental properties as the cause. Property owners are renting out houses, rooms or entire units for short periods (less than 28 days) in growing numbers across the city, facilitated by online platforms. So before you sign-up to use, list or buy, make sure you understand the rules and regulations governing short-term rentals in your area. ZOnIng
One of the things that could become very sticky, particularly if you are considering renting out a freehold lowrise, may be zoning. The renting of a house or rooms therein may be contrary to the zoning by-law where the home 20 New Home + Condo Guide | June 22–July 6, 2019
is located. Let’s say the party gets loud and the neighbours complain to the police and to the zoning office of the City. As the owner, you are liable and this could result in significant fines or worse. Advice – You should review your municipal by-laws, as individual municipalities in Ontario may have differing by-laws prohibiting or limiting short-term rentals before you post the house. On December 7, 2017, and January 31, 2018, Toronto City Council approved the regulation of short-term rentals in Toronto. The new rules require short-term rental companies to obtain a licence and short-term rental operators to register with the City and pay a Municipal Accommodation Tax (MAT) of 4 per cent. However, the City’s decision has been appealed
and will not come into force until after the appeal decision is reached likely later this summer. IssUEs In COnDOMInIUMs
Short-term rentals can sometimes lead to problems in condo communities, as people renting condos may be disruptive to other residents and may not follow the condo rules. Frequent examples of disputes include: • Renters causing issues within the building; • Restrictions and/or prohibitions in the condo’s declaration or rules against it; • An owner or resident was originally told they could host short-term rentals, but the board has since changed the rule; …continued on page 22
CITY’S MOST ELEGANT ARCHITECTURE THE CITY’S MOST ELEGANT ARCHITECTURE THE CITY’S MOST ELEGANT ARCHITECTURE THETHE THE CITY’S THE CITY’S CITY’S MOST MOST ELEGANT MOST ELEGANT ELEGANT ARCHITECTURE ARCHITECTURE ARCHITECTURE THE CITY’S MOST ELEGANT ARCHITECTURE 48-storeys of perfection. 55 48-storeys of pure perfection. 55 Charles 48-storeys ofpure pure perfection. 55Charles Charles 48-storeys 48-storeys 48-storeys of pure of of pure perfection. pure perfection. perfection. 55 Charles 55 55 Charles Charles will be a striking addition to the Bloor will be a striking addition to the Bloor will be a striking addition to the Bloor will 48-storeys will bewill abe striking be a striking a of striking addition addition to the to to Bloor the the Bloor Bloor pureaddition perfection. 55 Charles Yorkville neighbourhood. Its sophisticated Yorkville Its sophisticated Yorkville neighbourhood. Its sophisticated Yorkville Yorkville Yorkville neighbourhood. neighbourhood. neighbourhood. Its sophisticated Its sophisticated sophisticated will be a neighbourhood. striking addition toIts the Bloor architectural vernacular makes aaaaunique architectural vernacular makes unique architectural vernacular makes unique architectural architectural architectural vernacular vernacular vernacular makes makes asophisticated unique unique a unique Yorkville neighbourhood. Itsmakes statement. Modern. Distinct. Alluring. statement. Modern. Distinct. Alluring. statement. Modern. Distinct. Alluring. statement. statement. statement. Modern. Modern. Modern. Distinct. Distinct. Distinct. Alluring. Alluring. Alluring. architectural vernacular makes a unique statement. Modern. Distinct. Alluring. Make itit Make yours. Make yours. Make Make itMake yours. itityours. yours. it yours. Make it yours.
Coming soon. Coming soon. Coming soon. Coming Coming soon. soon. Priced from $500’s. Priced from the $500’s. Priced from the $500’s. Coming soon. Priced Priced from from thethe $500’s. the $500’s. Register now. Register now. Register now. Priced from the $500’s. Register Register now.now. 55charlesresidences.com 55charlesresidences.com 55charlesresidences.com Register now. 55charlesresidences.com 55charlesresidences.com 55charlesresidences.com Prices and specifications subject toto change without notice. Prices and specifications subject to change without notice. Prices and specifications subject change without notice. Prices and specifications subject to change without notice. Prices Prices andPrices specifications and and specifications specifications subject subject to subject change to change to without change without notice. without notice. notice.
E. O.E. Broker MarketVision Estate Corp. E. O.E. Exclusive Broker MarketVision Real Estate Corp. E. O.E. Exclusive Broker MarketVision Real Estate Corp. E.++++Exclusive +E. O.E. Exclusive Broker MarketVision Real Estate Corp. E. + O.E. E. O.E. + Exclusive O.E. Exclusive Exclusive Broker Broker MarketVision Broker MarketVision MarketVision Real Real Estate Real Real Estate Corp. Estate Corp. Corp. Brokers protected. Illustration isis artist’s impression. Brokers protected. Illustration isis artist’s impression. Brokers protected. Illustration artist’s impression. Brokers protected. Illustration artist’s impression. Prices and specifications subject to without notice. Brokers Brokers protected. Brokers protected. protected. Illustration Illustration Illustration is artist’s is artist’s impression. ischange artist’s impression. impression. E. + O.E. Exclusive Broker MarketVision Real Estate Corp. Brokers protected. Illustration is artist’s impression. 19-0487_55C_CONDO-GUIDE_JUNE-2019.pdf 1
2019-05-29
2:25 PM
…continued from page 20
• There is a security concern about residents sharing keys with short-term rental tenants. How do you avoid these issues? If you are considering using your condo for short-term rentals, you should first review your condo corporation’s declaration, by-laws, and rules. A declaration and/or rules can include conditions or restrictions on the occupation and use of the units. For example, the declaration may say that the units can only be used for “private singlefamilies.” In this case, owners may not be permitted to use their condo for short term rentals. Moreover, a recent Ontario court ruling has confirmed that condo boards can prevent owners from using their unit for short22 New Home + Condo Guide | June 22–July 6, 2019
term rentals by passing a rule. Your condo corporation’s documents may also set out a minimum permissible rental period. For example, your condo’s documents may prohibit rental or tenancy agreements for a period shorter than six months. BE InFORMED
Short-term rentals can be a great source of supplementary income, but before you post or list your property on a short-term rental site, make sure that you understand the rules that govern you, both through your condo corporation and the municipality. Protect yourself by understanding how short-term rentals are addressed in your condominium corporation. It is also important to send a letter or email about any issue to
your condominium corporation. Your condo board or manager should be able to tell you how short-term rentals are handled in your condo corporation and let you know what they plan to do to address your issue. Mail, deliver or fax letters to the magazine or to us, use the web site (www.schwarzlaw.ca), email (info@schwarzlaw.ca) and give us your questions, concerns, critiques and quandaries. We will try to deal with them in print or electronic form.
+MORE AdVICE OnlinE nexthome.ca/news/advice
ADVICE | stAt ChAt
Oversupply Of COndOs? No. oversupply of ANAlysis? yes.
BeN Myers
Everybody has an opinion on the future of the Toronto housing market, and just about everyone has made a real estate forecast regarding the next few months or years. If I had a dime for every time someone online said “this won’t end well” I’d be a wealthy man To be honest, there are way too many people that lack knowledge and relevant experience making forecasts and gaining media attention. The condominium market in Toronto has been a magnet for terrible forecasts. What is really bizarre about the folks and their wild claims is they don’t get fired from their jobs, to the contrary, they continue to be sought out for their opinion! In some publications, the crazier, the better. Having said that, I’m glad people don’t generally get fired for making bad forecasts, as my prediction for 2017 new condominium sales in the Greater Toronto Area (GTA) was about 10,000 too low! Yet people complain that I’m too optimistic. Approximately 35,000 new condominiums sold that year. Sales dropped off in 2018 simply because many developers pulled their launches forward to take advantage of the hot market 24 New Home + Condo Guide | June 22–July 6, 2019
conditions in 2017, and a spike in sales led to a pretty significant spike in construction costs as well last year. After a fairly tame spring market for new condo launches and sales in the GTA this year, the new openings are coming hot and heavy now, with several major launches coming to market in the summer of 2019. It will take several months before the dust settles
and we can figure out if we’re got another 2017-like market on our hands, or just another steady year. One thing potential buyers will have to consider when looking at all of the new condo developments for sale this summer is how future supply could impact the value of the unit they’re looking at purchasing. According to Canada Mortgage and Housing
Corporation (CMHC) there were 52,774 condominium apartments under construction in the Toronto Census Metropolitan Area at the end of May, the highest level since June 2014. Whenever the level of highrise units hits a high water mark, the same rhetoric and recycled opinion is thrown out, Toronto is building too many units, there
isn’t enough people to fill all these condos, investors will get nervous and flood the market with suites and prices will crash. After making the same prediction for the past 10 years, maybe they’ll be right in 2019, but I doubt it. CMHC reported that there were nearly 33,000 condo completions in 2015, which was almost 20,000 more than the average over the previous ten years of 13,200! New and resale condo prices didn’t rise as quickly in 2015 as in other years, but they didn’t crash, investors didn’t sell on mass, and there wasn’t the “massive oversupply” problem that had been all but guaranteed if you read the newspaper in the years prior. Some analysts were calling for as many as 30,000 condo completions in 2019, but there has only been 5,419 through the first five months of the year per CMHC, so I don’t think we’ll make it. The figures are certainly worth investigating again in 2020, but there doesn’t appear to be an oversupply this year. In May the Toronto Real Estate Board indicated the resale condo prices are up 4.9 per cent annually in the GTA to $590,000 on average. According to data from Rentals.
ca, the average condo for rent in the GTA was listed for $2,520 per month in the second quarter, up from $2,505 in Q4-2018. New condo prices continue to rise, but at a much more modest pace than the booming 2017, which is more sustainable and better for the long-term health of the market. In conclusion, take all forecasts with a grain of salt (mine included), as there is more likely an oversupply of housing analysts than an oversupply of Toronto condo units. Buy for the long term, buy what you can afford, and do your own research. 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
nexthome.ca 25
PROPERTY PROFILE
MOD DEVELOPMENTS
INTRODUCES 55C BLOOr-YOrkViLLE LuxurY. ExCEEDINg YOUR ExpECTaTIONS
Toronto’s Bloor-Yorkville neighbourhood is world renowned for luxury and elegance. And with designer name stores like Chanel, Tiffany and Hermès calling the area home, it’s a well-deserved reputation. Beyond Bloor-Yorkville’s sophisticated galleries and high-end boutiques, there is much more to these storied streets. Torontonians have long flocked to there for the vibe: a distinctive mix of cuisine and culture that is alluring and unmatched in the city’s history. Neighbourhoods like Bloor-Yorkville help to put Toronto on the map. They are the gold standard and, as such, they deserve residential properties that deliver the same measure of prestige. To earn its place, a development must be modern and mindful. And above all, it has to make a statement. 55 Charles, by MOD Developments, is poised to do just that. Under Gary Switzer’s leadership, MOD Developments made a name for themselves over the past decade with 26 New Home + Condo Guide | June 22–July 6, 2019
statement builds like The Massey Tower and 5 St. Joseph. With their vision for the 48-storey tower at 55 Charles, MOD will again exceed their resident’s needs in bold and unconventional fashion. “We wanted to honour the surrounding neighbourhood with a building matched in elegance and design excellence,” says Switzer. “So we assembled the finest team of designers and visionaries to bring 55 Charles to life.” 55 Charles is a feat of architectural beauty both inside and out. The architectural design by architectsAlliance, is a welcome addition to the skyline, with its vertical façade enlivened by undulating planes, both striking and sublime. The bold aesthetic carries through into the lobby, where the double-height volume plays beautifully against the warm blend of dusty gold and rich wood. MOD Developments brought interior design team Cecconi Simone into the fold, and their vision for 55
Charles’ suites is second to none. With a range of sizes and layouts to inspire them, the award-winning designers incorporated state-ofthe-art features and furnishings into the décor, achieving a space that feels luxurious, but eminently liveable. The nine-foot ceilings and floor-to-ceiling windows help to fill the suites with light, accentuating Cecconi Simone’s fine design details: kitchens with custom cabinetry and innovative millwork, and bathrooms with custom-designed mirrors, vanities and storage shelving. MOD also understands that the luxury buyer expects an amenity package that reflects their upscale, carefully curated lifestyle. “We’ve designed 55 Charles for
the sophisticated, experienced buyer,” says Switzer. “These are people who recognize the singularity of the neighbourhood and expect the same in the amenities and conveniences at home.” To that end, 55 Charles promises over 20,000 square feet of indoor and outdoor amenity space, featuring the finest in fitness facilities, lounges, private dining rooms and, roof gardens including the C-Lounge, atop the tower, with views of the lake and downtown skyline, where residents will entertain and look comfortably out over one of the most exclusive neighbourhoods in Toronto.
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LOcaTIOn Toronto DEvELOPER MOD Developments DEvELOPmEnT 55C HOmE TYPE Highrise cOnTacT 55charlesresidences.com
To learn more about 55C, register at www.55charlesresidences.com nexthome.ca 27
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28 New Home + Condo Guide | June 22–July 6, 2019
ProPerty Profile
THE UNITED BUILDING CONTINUES EVOLUTION OF UNIVERSITY AVENUE WITH INNOVATIVE MIXED-USE DESIGN The United Building is coming soon, and the mixed-use development is already garnering substantial interest. Registrations are pouring in from people interested in the rare opportunity to live, as well as work, play and shop on Toronto’s University Avenue. Situated at 481 University, Davpart Inc.’s complex will feature condominium residences atop two of the existing historic commercial/office/retail buildings that were part of the Maclean Publishing Company/Maclean Hunter company operations for decades. This architectural mélange of the old and the new will be the tallest architectural heritage retention development in North America. The United Building follows a North American trend of combining residential space on a thoroughfare that has been primarily institutional in the past. It will retain commercial office and retail space in the restored heritage structure up to the 10th floor, from which a new 44-storey residence will rise. The interiors will be removed to make space for parking and retail floors below grade. Davpart’s design team includes B+H Architects and heritage consultant ERA Architects, which are going to extreme lengths to preserve the exteriors of the buildings constructed in 1928 and 1961. Reflecting the classic yet contemporary flair of the exterior, Tomas Pearce Interior Design Consulting Inc. has designed the residential amenities including
a luxurious lobby featuring 24/7 concierge service; a pool with a fireplace; an indoor/outdoor pool deck with sun loungers; and a fitness centre, sauna and rain room overlooking the courtyard. The United Building’s sports lounge will offer billiards, a video gaming lounge, bocce court and golf simulator. Rounding out the amenities are an all-season reflecting pool with warming pavilions and seating, a tranquil Zen garden and a party room, fireplace lounge and barbecue dining on the terrace. Residents of The United Building will live within walking distance of shops, cafes, hospitals, parks, eclectic restaurants, nightlife, Nathan Phillips Square, Toronto City Hall, Art Gallery of Ontario, Grange Park, Chinatown, Ryerson
University, University of Toronto, the Four Seasons Centre for the Performing Arts, Eaton Centre and the Financial District. The United Building will also include direct access from inside to St. Patrick’s TTC station. In addition, the subway and the 505 streetcar are at the doorstep. Purchasers will be able to select from studio to one-bedroom, two-bedroom and three-bedroom designs, some with a den, flex or media room, and some twostorey plans. The open suite layouts feature large windows and spacious balconies, as well as chef-inspired kitchens and topquality appointments. The United Building is rare on the Toronto residential landscape. Registrations are now being taken at TheUnitedBldg.com. nexthome.ca 29
ADVICE | ConDo pro
A CONDO IS YOUR COTTAGE IN THE SKY BARBARA LAwLOR
When you live in a condominium in the Greater Toronto Area, you enjoy cottage-style enjoyment on a daily basis. Who needs to sit in a hot vehicle for hours following the crowd north, when you have all of the following under – and on top of – your roof right at home?
The WATER Factor – You may select a condominium on Lake Ontario or another lake in the GTA, which means water sports are at your doorstep. Even if your condo is not lakeside, in downtown Toronto, getting to the lake is usually just a pleasant stroll or quick bike ride. Then again, if your building is not near a lake, never fear! You likely have a beautiful swimming or reflecting pool inside or on your rooftop, not to mention a hot tub. The FUN/ENTERTAINMENT Factor – Just look at the amazing array of other amenities in today’s condos.
30 New Home + Condo Guide | June 22–July 6, 2019
Residents may be able to choose from golf simulators, pool rooms, games rooms, theatres and the like for fun. Hosting a get-together is a breeze in the chic multi-purpose rooms developers are including. These usually feature a kitchen and dining facilities, meaning you avoid making a mess in your suite. Invite the gang over to watch a big game on the big-screen TV in the theatre; arrange a weekly pool tournament in the games room; or book the party room for a wedding shower. The possibilities for enjoying personal time and entertaining friends and family are endless.
The EXERCISE Factor – Cottages provide ample opportunities for getting in exercise after a sedentary winter. Condos provide these opportunities year round in fabulous fitness facilities. Work out with weights, stretch with yoga, run on a track … the amount of physical exertion is up to you. Plus, there are usually parks in the vicinity for joggers and dogwalkers. The RELAXATION Factor – Sitting at the cottage reading a book or simply drinking in nature is a wonderful draw to life up north. In a condo, however, you can sit back and relax in front of your floor-to-ceiling windows that offer spectacular views or on your balcony with a cool drink, sit and chat with neighbours in the bar/ lounge, de-stress in a sauna or sip on a coffee in the courtyard. That’s
“
The possibilities for enjoying personal time and entertaining friends and family are endless. the beauty of condo life: you can be as private or social as you want.
The VIEW FACTOR – Yes, views from cottages are gorgeous, with nature always nearby. But think of our condominiums today, even those in the heart of urban areas. Developers are including courtyards and lush landscaping. Keep in mind, too, that Toronto is one of the greenest cities in the world when it comes to the presence of trees and greenery. Condo designs maximize views, whether they capture the vibrancy and energy of city life, the everchanging moods of Lake Ontario or the verdant rooftops of treefestooned neighbourhoods.
”
So, if the cost of new home real estate has you unable to afford a cottage, do the next-best thing: choose a condo suite, and enjoy resort-style living all year long!
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
nexthome.ca 31
PROPERTY PROFILE
mayor Tory joins exeCuTives to help launch
Tridel’s Condominium Residences at the Well The 7.8-acre construction site situated at Front and Spadina will soon be home to Toronto’s most anticipated master-planned community, The Well – a project that Altus Group analysts expect will generate $4.2 billion in economic activity upon full completion. 32 New Home + Condo Guide | June 22–July 6, 2019
“The Well is a transformational project and one of the most complex, multi-faceted developments Tridel has ever worked on,” says Andrew DelZotto, Executive Vice President, Tridel at the launch on June 3. “This is choreographed city building, and it’s an honour and privilege
to know that together with our collaborators at RioCan, Allied and Woodbourne, we are generating billions of dollars in economic activity and contributing directly to the growth of Toronto and the GTA as a whole.” The details of a new report by Altus Group were unveiled that
Executives from Tridel, RioCan, Woodbourne, and Deltera, along with City of Toronto Mayor John Tory, are joined by construction crew members at the site of The Well. Drawing from The Well: Altus Reports Over $4 Billion in Economic Activity expected to stem from The Well, one of Toronto’s most ambitious mixeduse developments.
afternoon by Toronto Mayor John Tory alongside Tridel Executive Vice-President Andrew DelZotto, Tridel Director and Executive VicePresident Andrea DelZotto, RioCan President and COO Jonathan Gitlin, and Woodbourne President Jake Herman, who, together with
Allied Properties, make up the development team behind The Well, one of the most ambitious mixed-use projects in Canada. The 2019 economic impact report revealed that annual benefits from the ongoing operation of The Well’s commercial and retail
(From left to right) Tridel Executive Vice-President Andrew DelZotto, Woodbourne President Jake Herman, Tridel Director and Executive Vice-President Andrea DelZotto, City of Toronto Mayor John Tory, RioCan President and COO Jonathan Gitlin, Deltera President and CEO Dino Carmel, Tridel Executive Vice President, Sales & Marketing Jim Ritchie.
spaces, and the management of the property, will generate more than 23,000 person-years of employment and over $300 million in income by households. In total the estimated annual economic benefit from the ongoing operations of The Well add up to approximately $939 million in economic activity for the city. “The Well has the ability to transform the downtown core and create an entirely new community,” says Mayor John Tory. “Investments like this are a reflection of the growth we are experiencing in Toronto and the confidence that businesses have in our city.” The new findings were revealed amid the launch of the residential condominium component at The Well by Tridel – three towers aptly named the Classic Series I and II, and the Signature Series. Tridel’s spacious Signature Series residences will take the form of a 14-storey midrise along historic Wellington Street and comprise of 98 nexthome.ca 33
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 the city craves. In total, The Well will offer space for 5,000 new office jobs, 1,200 new retail jobs, and over 750 new condominiums by Tridel. To register for more information on Tridel at The Well Condominium Residences, visit www.tridel.com/thewell
suites, while the Classic Series I and Classic Series II will be two highrise towers, standing at 38 and 22 storeys tall, respectively. Each residence will provide stunning views of the city and streetscapes, with vast glass windows allowing for abundant natural light. Tridel condominium residences at The Well are slated for occupancy to commence in late 2022. A unique mix of shops, restaurants, workspaces, and residences, The Well is a natural extension of King West and will reinvigorate and transform 34 New Home + Condo Guide | June 22–July 6, 2019
the corridor between Front and Wellington Streets, west of Spadina Avenue. Comprised of seven mixed-use towers and midrise buildings, The Well is set to become a hub for the ultimate lifestyle experience in downtown Toronto, complete with signature condominiums, purpose-built rental suites, a world-class food market, innovative retailers, globally inspired restaurants, modern office spaces, and much more. Materials used in the design of The Well were carefully considered to reflect the
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LOcaTIOn Toronto DEvELOPER Tridel DEvELOPmEnT The Well HOmE TYPE Condominium cOnTacT www.tridel.com/thewell
Behind the scenes
Q+a with Linda MitcheLL Young
ll tche a Mi a Lind g, Lind n u o l l Y he Mitc ing ket r a M
Linda Mitchell Young is the owner of Linda Mitchell Marketing Inc. A lifelong Toronto resident, Linda recently celebrated a milestone birthday, along with the 40year anniversary of her involvement in the real estate development industry. She has worked in customer service, as an onsite administrator, construction coordinator, mortgage officer, marketing coordinator, office administrator, office manager, new product development manager and marketing manager. She even spent three years in Singapore working as a real estate rental agent assisting expatriates in finding housing. This award-winning professional offers unique insight into how the industry has evolved over the past four decades.
nexthome: What is the most dramatic change you have seen in the new condominium marketplace over the last 40 years? Linda Mitchell Young: The first thing that comes to mind is price! In 1979, the average price per square foot of a condominium was $165, with the average selling price at about $140,000. Compare that to approximately $1,200 today per square foot and an average suite price of around $800,000! Now, here’s an interesting irony: in 1979, mortgage rates hit 21.75 per cent, while today they hover around 3.75 per cent.
‌continued on page 36 nexthome.ca  35
Interesting condo designs invigorate the Toronto skyline, says Mitchell Young (centre), who’s worked in the business since 1979
…continued from page 35
nh: After working on more than
70 residential and mixed-use buildings over the years, you must have seen other changes? LMY: Of course. Look at sizes.
In 1979, the average size of condominium suites was approximately 900 square feet; today we are looking at about 600 square feet. I have worked in every aspect of the home-building business, and I can tell you that design has come a long way, so 600 square feet lives a lot larger than it sounds. Innovations such as linear kitchens, open-concept spaces, sliding barn doors and the like have changed the face of new condos for the better. And as far as exterior architecture goes, the scope and variety of interesting designs continues to invigorate Toronto’s skyline. 36 New Home + Condo Guide | June 22–July 6, 2019
nh: Using your own experience, can you give us an idea of how much the industry has grown in 40 years? LMY: I remember working for Monarch in 1995, when President John Latimer asked me to research the condominium business for its potential. Previously a single-family home builder, Monarch launched its first condominium in Scarborough in 1996, with suites beginning in price from $165 per square foot ($140,000). I led the highrise team and eventually helped to launch 30 condominiums for that builder. During my time in the industry, which began right out of high school in 1979, the 70+ projects I have worked on add up to over $7 billion in revenue. That is only a fraction of the total, and speaking of things
that are only a fraction of the total, the popularity of condos in Toronto and the GTA today is astonishing. Where 40 years ago, there were only a few condos that sold mostly to emptynesters, today, condo sales are typically higher than lowrise, and people of all ages and walks of life are buying suites. nh: Now that you have branched
out on your own, how do you feel about the industry? LMY: I think we have evolved beautifully to accommodate a continually rising population, as well as ever-changing purchaser needs and preferences. We live in one of the finest places in the world, and I am proud to have contributed to an industry that plays a major role in the enviable quality of life we enjoy.
#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 nexthome.ca  37
TRENDING
CRA wARns of limited partnership ReAl estAte sChemes the Canada revenue agency (Cra) sent out a warning this month to flag tax schemes involving professionals such as tax representatives and tax preparers, who are claiming to offer individuals tax write-offs through limited partnerships hingeing on real estate investments.
WhaT ThE hEck Is a Tax schEmE?
Tax schemes are arrangements that are designed to deceive taxpayers by promising to reduce the taxes they owe, for example through large deductions or promises of tax-free income. These schemes can come in many different forms and are creatively planned to convince people that by participating they can expect to pay less taxes. cRa’s ouTlINE of hoW ThIs REal EsTaTE Tax schEmE Is DElIvERED:
Beginning as an advertised real estate investment opportunity through what is being called a “limited partnership”, the scheme is usually heavily promoted as a product with a significant tax advantage and limited liability for the investor. The scheme’s promoter is promising a tax write-off for more than double what the taxpayer invests. The claim of a significant tax write-off being received is because of costs expensed in the initial year of the project. The example given in the CRA press release is when an “investor has invested $5,500 and is advised that they can write it off on their taxes for $12,500 due to financial services, lease enhancement and tenant improvement costs expensed in the first year.” This is not the case, says CRA. “Limited partnerships are unique arrangements that provide investors with certain benefits similar to partnerships and corporate entities. However, different than general partnerships, the investor’s liability is restricted to the amount they invested. Therefore, they cannot claim a higher tax write-off than invested.” sERIous coNsEquENcEs caN INcluDE jaIl TImE
The CRA has increased the number of audits of such promoters, as well as made improvements to its information gathering. It’s taking steps such as these, as well as informing taxpayers on how to recognize such real estate tax schemes and will continue to 38 New Home + Condo Guide | June 22–July 6, 2019
shut them down. There are serious consequences for being charged with this type of tax fraud, including penalties, court fines and jail time. PRoTEcTING youRsElf aND oThERs fRom Tax schEmEs
The CRA has outlined three tips to avoid and shut down tax schemes: • get professional, independent advice before investing, especially if a deal seems too good to be true • if you have participated in a scheme, go to CRA to correct your tax affairs through its Voluntary Disclosures Program before CRA comes to you • help ensure tax fairness for all Canadians by reporting a lead to the CRA For more information on different types of tax schemes, visit Canada.ca/tax-schemes.
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Branthaven Homes has always attracted those who want more from their lifestyle, their community and the home-owning experience. As we approach our 50th year we have never wavered Branthaven Homes has always from our promise to deliver “The attracted those who want Best Built Home at Any Price.” more from their lifestyle, their community and the home-owning From contemporary condos, experience. As we approach our chic townhomes, classic single50th year we have never wavered family homes or carefree luxury from our promise to deliver “The apartments, Branthaven delivers Best Built Home at Any Price.” best-in-class living that elevates your everyday. From contemporary condos, chic townhomes, classic singleDiscover Branthaven’s modern family homes or carefree luxury architecture, fashionable interiors apartments, Branthaven delivers and legendary attention to detail. best-in-class living that elevates your everyday. Live The Life™ you have always wanted. Live Branthaven. Discover Branthaven’s modern architecture, fashionable interiors and legendary attention to detail. Live The Life™ you have always wanted. Live Branthaven. HAMILTON
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THE ELEPHANTS IN THE ROOM
Now is the time for bold leadership to fix a generational housing and supply challenge that is making home ownership unaffordable.
What are today’s facts?
22%
100k 11
years
231k
What can the future look like?
of the cost of a new home is made up of government fees, taxes and charges.*
Nearly 4 million residents in the GTA will need housing by 2041. The solutions are at our doorstep.****
future GTA housing units are stuck in a log jam at the Local Planning Appeal Tribunal, reducing supply. (LPAT)**
• More supply • More cost certainty • Less red tape
is the average time it now takes to complete a low-rise project in the GTA. in lost person-years in construction jobs as a result of housing shortfalls.***
• More affordable housing options • More jobs
To find out more please visit bildgta.ca/reports * Altus Government Charges and Fees on New Homes in the GTA 2018 ** Steve Clark, Minister of Municipal Affairs and Housing *** Altus Unmet Demand Analysis 2019 **** Statistics Canada
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ADVICE | TArIon rEporT
When your moving date moves before you do
hoWard bogach
You did all your research and decided that your next move will be into a new condominium. Whether this will be your first home or perhaps a retirement retreat, you’ve been counting down the days to your move. Then your builder notifies you that your occupancy date is going to be delayed. There could be many different reasons for it. Condo projects can take a long time to get going due to zoning approval processes and sometimes issues like material or labour shortages can delay construction schedules. Pre-construction condos are sold long before shovels hit the ground – so this means, in most cases, your occupancy date could be two to three years in the future. Your Agreement of Purchase and Sale (or APS) sets out your occupancy date, which can be either a ‘firm’ or a ‘tentative’ date depending on how confident your builder is of the eventual date of completion. Your APS will also include an ‘outside occupancy date’ – an estimate of the latest possible date the project is expected to be completed. Since a lot can happen between the time the units are sold and 44 New Home + Condo Guide | June 22–July 6, 2019
construction is finished, the odds are good that your builder will set a tentative occupancy date. This means they can delay the completion date for up to 120 days as long as they provide at least 90 days’ notice. Additional delays – with appropriate notice – are also possible.
Once a firm occupancy date has been set, if the condo isn’t ready on that date, you may be entitled to delayed occupancy compensation under the Ontario New Home Warranties Plan Act. Ontario is the only province that offers this compensation — $150 per day to a maximum of $7,500 —
claim to Tarion after you move into your new condo. Finally, if the outside occupancy date comes and goes and your unit still isn’t ready, you will have the right to cancel the purchase agreement. The ‘critical dates’ you need to be aware of can be found in the Addendum, which is a document that must be attached to your APS. The Addendum not only details your occupancy dates but also when your builder is required to notify you if there’s going to be a delay and when you’re entitled to legally back out of your agreement if you choose to do so. So, if your long-awaited condo requires more waiting than you had bargained for, it’s important to know your rights. To protect those rights, be sure to have a real estate lawyer who is well versed in condominium law review the APS and the Addendum before you sign. And if you have questions, visit Tarion.com.
which is meant to cover things like the cost of rental accommodation or storage for your belongings. You don’t need to prove expenses to collect this compensation – it is a per diem rate for the duration of the delay. Usually, the builder pays this to you directly, but you can also make a delayed occupancy
Howard Bogach is President and CEO of Tarion Warranty Corp For more information, visit tarion.com or find on Facebook at facebook.com/ TarionWarrantyCorp.
Coming this Fall to Hamilton
Since a lot can happen between the time the units are sold and construction is finished, the odds are good that your builder will set a tentative occupancy date. This means they can delay the completion date for up to 120 days as long as they provide at least 90 days’ notice.
see page 2 for more information
+more adviCe online nexthome.ca/news/advice
nexthome.ca 45
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YOUCAN CANSTILL STILLSELECT SELECT YOUR FINISHES YOU YOU YOUR CAN STILL YOUR The homes and are The between homes are 1,400 between sq. and ft.1,400 and 2,100 sq. ft.sq. and ft. finished 2,100 many with sq. ft. walk-out many withinteriors. walk-out YOU CANFINISHES STILL SELECT SELECT YOUR FINISHE FINISHE basements basements decks and and are decks impeccably are finished impeccably with beautiful with interiors. beautiful The homes are Thebetween homes are 1,400 between sq. ft.1,400 and 2,100 sq. ft.sq. and ft. 2,100 many with sq. ft. walk-out many with walk-out YOU CAN STILL SELECT YOUR FINISHES YOU CAN STILL SELECT YOUR FINISHES basements and basements decks and and aredecks impeccably and arefinished impeccably with finished beautifulwith interiors. beautiful interiors. 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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.
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Rare Semi-Detached Rare Semi-Detached Homes Homes RareHeights Semi-Detached Cardinal Cardinal Offers Heights A Convenient OffersHomes A Convenient Lifestyle Lifestyle Cardinal Heights Offers A Convenient Lifestyle In An Established In An Established Neighbourhood Neighbourhood In An Established Neighbourhood
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Visit Us At Visit The Presentation Us At The Presentation Centre Centre 1070At Stone 1070 Road Stone E. Church Unit 35 Road E. Unit 35 Visit Us TheChurch Presentation Centre 1070 Stone Church Road E. Unit 35
Cardinal Heights Cardinal Build Heights Site Build Site Heights Site At The Cardinal Corner ofAtBobolink The Corner Rd and ofBuild Bobolink Hummingbird Rd andLane Hummingbird Lane 905-575-8609 | 905-575-8609 cardinalheights.ca | cardinalheights.ca At The Corner of Bobolink Rd and Hummingbird Lane 905-575-8609 | cardinalheights.ca
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INSPIRATION |
style file
make a good first impression by Sara Duck
it’s time to get organized at home. Start small by focusing on the front entrance. Here are five tips that will help keep your space looking tidy and stylish.
+more InspIratIon online nexthome.ca/news/inspiration
50 New Home + Condo Guide | June 22–July 6, 2019
create an inspiring entry zone. it’s the first place you see when you step into your home, so decorate it like you would the rest of your space. You can do this by adding personality through wall art and defining the area with a rug. art print by melo and co. $20. Indigo.ca one-of-a-kind Schroeder Hand-knotted by World menagerie. $1,029. wayfair.ca
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keep things vertical. Space is usually at a premium in a front entrance, so thinking vertically is key. Hang a coat rack or sturdy hooks on the wall to keep your jackets and purses out of the way. Place a slim cabinet or mount a bookcase to neatly hold items that are not in regular use. Billy bookcase in brown ash veneer. $75. ikea.ca The iconic Billy Bookcase is celebrating its 40th anniversary with ikea. it’s estimated that every five seconds, one Billy bookcase is sold somewhere in the world. mid-century multi-hook in acorn. $99-$139. Westelm.ca
The iconic Billy Bookcase is celebrating its 40th anniversary with IKEA. It’s estimated that every five seconds, one Billy bookcase is sold somewhere in the world.
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Quit clutter. use a variety of differentsized baskets to keep items like seasonal accessories in order and accessible. While you’re at it, try the konmari (konmari.com) method to make sure you are not overcrowding your entrance way. Seagrass basket in natural and white by Bloomingville. $44. Indigo.ca
add seating. even if you can only fit a small bench in your space, seating in the entrance not only looks great, it’s very practical as well. maura tufted bench with storage in blue. $369. Structube.com
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use paint. adding a splash of colour to your foyer and front door is a great way to make a bold statement without breaking the bank. Paint in kendall charcoal by Benjamin moore. Benjaminmoore.ca
Geode wall art. $150. Woven basket. $40. Hand-knotted rug. $130. Woven basket wall hanging. $15. canvas storage boxes. $17. Wall hooks on patterned board. $25. Velvet ottoman. $130. all available at homesense.ca nexthome.ca 51
52 New Home + Condo Guide | June 22–July 6, 2019
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.
Freehold ownership
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 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.
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
12. 55 charles residences
d. impressions
By: Mod Developments Inc. City: Toronto Housing type: Condo 55charlesresidences.com
By: Fieldgate Homes City: The Village of Kleinburg Housing type: Luxury singles fieldgatehomes.com
13. moBilio
f. Go.2
By: Menkes City: Toronto Housing type: Condo menkes.com/mobilio
By: Pemberton City: Toronto Housing type: Condominium Pembertongroup.com/go2
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
17. thirty six zorra By: Altree and EllisDon City: Toronto Housing type: Condo thirtysixzorra.com
By: Fieldgate Homes Location: Whitby Housing type: Detached fieldgatehomes.com
new openinGs
7. 543 richmond
a. the kip district
By: Pemberton City: Downtown Toronto Housing type: Condo pembertongroup.com
By: Concert City: Toronto Housing type: Condominiums thekipdistrict.com
8. trendi
B. upper valleylands
By: Treasure Hill City: Markham Housing type: Phase 3 release of modern townhomes. Register now. treasurehill.com
By: Fieldgate Homes City: Brampton Housing type: Semis, single-detached and freehold townhomes from upper $500s fieldgatehomes.com
10. the united BldG.
c. saturday in downsview park
By: Davpart City: Toronto Housing type: Heritage retrofit condominium building theunitedbuilding.com
+
By: Mattamy Homes City: North York Housing type: Mid-rise condominium mattamyhomes.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. the towns at Gracefields By: Lindvest City: Newcastle in Durham Region Housing type: Townhomes lindvest.com
m. m3 condos By: Urban Capital + Rogers Real Estate Dev. Ltd. City: Mississauga Housing type: Condo mcitycondos.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
F D 3
13
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C
K
10
B 16
J
Maps Match the map numbers with property listings on the previous Hot Properties page
54 New Home + Condo Guide | June 22–July 6, 2019
A 7 17
14
m
12
2
H
i
Newcastle
L
5 8
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NEW HomEs NEW CoNDos
cartography: marketmaps.com
MAP LE GE N D
nexthome.ca  55
Feature | Homebuying Help
basement rentals can help you get into the housing Market by Michelle hopkins In 1989, Don Campbell and his wife purchased their first home and rented their finished basement as way to pay off their mortgage sooner. “The rent from our basement suite buffered our income,” says the author and senior analyst with the Real Estate Investment Network (REIN). “In addition, we travel a lot, so knowing someone 56 New Home + Condo Guide | June 22–July 6, 2019
was always home offered us a sense of security.” Campbell is a huge proponent of basement suites as a way “to get into the housing market.” If you’re wondering if you should finish your basement right away, Campbell says doing so can potentially increase the value of your home by a considerable amount. Now, that’s reason enough …
Best of all, says the veteran financial expert, most banks will allow you to use the rental income for your basement suite to qualify for a mortgage. That’s critical if you are a firsttime homebuyer and must prove you can afford the payments under the federally mandated Bank of Canada stress test. …continued on page 60
HOT PROPERTIES
find your next home The latest properties in southwestern ontario to keep your eye on 9. homestead
h. timBerWood estates
By: Branthaven Homes City: Mount Hope in Hamilton Housing type: 33, 36, 38 & 40 ft. singles branthaven.com
By: Mountainview Homes City: Thorold Housing type: Townhomes, detached homes timberwoodestates.ca
10. Winona county By: Branthaven Homes City: Winona county Housing type: 36 & 40 ft. singles branthaven.com
neW oPenings sWo prevIew registration
a. lyon’s creeK By: Mountainview Homes City: Niagara Falls Housing type: Semis lyonscreekhomes.com
1. casa di torre
B. Vista ridge
By: Branthaven Homes City: Stoney Creek Housing type: Condos from 550 to 978 sq. ft. from the low $300’s branthaven.com
By: Losani Homes City: Beamsville Housing type: Townhomes and detached losanihomes.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
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
5. the Peninsula
f. the PreserVe
By: Losani Homes City: Paris Housing type: Towns, semis and singles parispeninsula.com
By: Mattamy Homes City: Oakville Housing type: Townhomes mattamyhomes.com
6. synergy
g. fallingWaters
By: Branthaven Homes City: Oakville Housing type: Urban trailside condos branthaven.com
By: Losani Homes City: Stoney Creek Housing type: Luxury townhomes email: Pronto@LosaniHomes.com
+
i. saffron estates By: Mountainview Homes City: Fonthill Housing type: Townhomes, detached homes saffronestates.ca
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
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
Waterloo Kitchener
Milton
Cambridge
J
K
Brantford
Hamilton
5
4
lONdON
9
L 3
London
Maps Match the map numbers with property listings on the previous Hot Properties page
58 New Home + Condo Guide | June 22–July 6, 2019
Mississauga
MAP LE GE N D
m
NEW HomEs
F 6
NEW CoNDos
Oakville
Burlington
1 G B
E D
St Catharines H
Niagara Falls
2
A
I
C
Welland cartography: marketmaps.com
10
nexthome.ca  59
…continued from page 56
According to Campbell, the stress test means homebuyers with less than a 20 per cent down payment will need to prove they can afford mortgage payments based on which is greater – the Bank of Canada’s five-year benchmark rate or their contractual mortgage rate plus two per cent. Don Campbell’s tips For First-time lanDlorDs: 1. proteCt your privaCy
Ask yourself if you will be OK seeing a stranger walking around your property every day. Is this lack of privacy worth the extra money? 2. try to avoiD renting to Family
As nice as it sounds to help out, renting to a family member is fraught with potential relationship crushers. If a tenant stops paying or become a nuisance, there are ways to solve that problem. However, it is much more difficulty to use “eviction” or “collection” rules against a family member without destroying the relationship and having the repercussions ripple out into the rest of the family. 3. sign a proper written lease
Never, ever, ever let anyone move in without both 60 New Home + Condo Guide | June 22–July 6, 2019
of you signing a proper lease that clearly defines rules, responsibilities and costs. And never ever let a tenant move in without providing you with the full security deposit and first month’s suite rent. 4. Know your lanDlorD rules
Before you dive into the rental market, make sure you study up on the rules and responsibilities. They are strict and they are clear, and so must you be from the beginning of the tenant relationship. You can find these rules on the provincial government website. 5. tell your Home insuranCe Company
Critical. You must, in all cases, advise your insurance company that you are renting out a suite. If you don’t, and there is an incident where you need to use the coverage, you may likely get denied coverage. 6. researCH tHe tax reperCussions
Speak with a real estate experienced accountant to ensure that you are claiming all of the deductions you can as well as properly planning for any change in the capital gains exemption if and when you sell your house. Do it right, do it upfront or be prepared for a big tax bill in the end.
townhome
Condo
Bungalow
Location BuiLder/deveLoper name Site name
semi
#in tHe City
detached
index of advertisers
priceS
page
Bloor West village
Plaza pureplaza.com
Bijou on Bloor
•
Inquire
3
Bloor Yorkville
Mod developments inc.
55 Charles Residences
•
From 500's
21
downsview park
Mattamy Homes mattamyhomes.com
Saturday in Downsview Park
•
$4,990
IBC
downtown toronto
Pemberton pembertongroup.com
543 Richmond
•
Inquire
9
etobicoke
tridel tridel.com
Evermore
Inquire
4,5
etobicoke
Mattamy Homes mattamyhomes.com
Vita on the Lake
•
Inquire
IBC
etobicoke
Mattamy Homes mattamyhomes.com
Vita Two
•
Inquire
IBC
north York, on
Mattamy Homes mattamyhomes.com
Origins of Don mills
•
•
Inquire
IBC
north York, on
Mattamy Homes mattamyhomes.com
Park Place on Patricia
•
Inquire
IBC
Queens Quay east
tridel tridel.com
Aqualuna
•
Inquire
4,5
Scarborough
Mattamy Homes mattamyhomes.com
Thomson Towns
•
Inquire
IBC
Scarborough
Mattamy Homes mattamyhomes.com
Upper Summerside
•
Inquire
IBC
toronto
altree developments
Thirty Six Zorra
•
From 300's
23
toronto
davpart inc.
The United
•
Inquire
OBC
toronto
Menkes menkes.com
Sugar Wharf
•
Inquire
IFC
toronto
Pemberton pembertongroup.com/go2
Go.2
•
Inquire
9
toronto
tridel tridel.com
Auberge on the Park
•
Inquire
4,5
•
nexthome.ca 61
Beamsville
Losani Homes losanihomes.com
Vista Ridge
•
Bracebridge, on
Mattamy Homes mattamyhomes.com
White Pines
•
Brampton
Mattamy Homes mattamyhomes.com
Union Mount Pleasant
Brampton
Mattamy Homes mattamyhomes.com
Union Mount Pleasant
Brantford
Losani Homes losanihomes.com
Brant West
caledon/Brampton Border
fieldgate Homes fieldgatehomes.com
Upper Valleylands
• •
caledonia
Losani Homes losanihomes.com
The McKenzie
•
Fonthill
Mountainview Homes mountainviewhomes.com
One Twenty Condominiums
Fonthill
Mountainview Homes mountainviewhomes.com
Saffron Estates
Fonthill
Mountainview Homes mountainviewhomes.com
Homestead
•
ingersoll
sifton
Harrisview
Kleinburg
fieldgate Homes fieldgatehomes.com
Impressions
Kleinburg
Mattamy Homes mattamyhomes.com
Kleinburg Summit
Lincoln
Losani Homes losanihomes.com
Lincoln Estates
markham
Mattamy Homes mattamyhomes.com
The Condominiums of Cornell
milton
Mattamy Homes mattamyhomes.com
Hawthorne South Village
newcastle
Lindvest
Gracefields
niagara Falls
Mountainview Homes lyonscreekhomes.com
Lyon's Creek
oakville
Branthaven Homes thetauntonapartments.com
The Taunton
Winona
Branthaven Homes branthaven.com
Life
oakville
Mattamy Homes mattamyhomes.com
East Preserve
oakville
Mattamy Homes mattamyhomes.com
oakville
Mattamy Homes mattamyhomes.com
62 New Home + Condo Guide | June 22–July 6, 2019
townhome
Condo
Bungalow
semi
Location BuiLder/deveLoper name Site name
detached
#Beyond tHe City
•
priceS
page
From $300’s
2,45
$419,990
IBC
•
From $300’s
IBC
•
From $300’s
IBC
From 400's
2,45
•
From $500’s
7
•
Inquire
2,45
•
Inquire
43
•
Inquire
43
•
Inquire
43
•
$487,500
47
•
Inquire
7
$799,990
IBC
Inquire
2,45
By Appointment
IBC
Inquire
IBC
From high $400's
46
From $400's
43
Inquire
40, 41
Inquire
40, 41
•
$580,000
IBC
The Preserve
•
Inquire
IBC
The Preserve Woodland Estate
•
Inquire
IBC
•
•
• • •
•
• •
• • •
•
paris
Losani Homes losanihomes.com
Simply Grand
• •
paris
Losani Homes losanihomes.com
The Peninsula
• •
pickering
Mattamy Homes mattamyhomes.com
Seaton Whitevale
•
pickering
Mattamy Homes mattamyhomes.com
Seaton Taunton
pine valley & teston
Lindvest Lindvest.com
Klein Estates
•
richmond Hill
Mattamy Homes mattamyhomes.com
Richmond Green
•
South guelph
tricar
Gordon Square
St catharines
Mountainview Homes mountainviewhomes.com
Elements
mount Hope
Branthaven Homes casaditorrecondos.com
Homestead
Stoney creek
Branthaven Homes branthaven.com
Casa Di Torre
Stoney creek
Losani Homes losanihomes.com
Fallingwater
toronto
Concert Properties
The Kip District
West Brampton
fieldgate Homes fieldgatehomes.com
Valleylands
Whitby
Mattamy Homes mattamyhomes.com
Queen's Common
Welland
Mountainview Homes mountainviewhomes.com
Sparrow Meadows
•
Welland
Mountainview Homes mountainviewhomes.com
Timberwood Estates
Winona
Branthaven Homes branthaven.com
Winona County
townhome
Condo
Bungalow
semi
Location BuiLder/deveLoper name Site name
detached
#Beyond tHe City
priceS
page
Inquire
2,45
Inquire
2,45
•
Inquire
IBC
•
$400,000
IBC
Inquire
13
•
$845,000
IBC
•
From 300's
39
Inquire
43
From $300’s
40, 41
Inquire
40, 41
From $600’s
2,45
From mid $300’s
19
Mid $900’s
7
•
$499,000
IBC
•
Inquire
43
•
Inquire
43
•
Inquire
40, 41
•
• • • • •
nexthome.ca 63
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VISITVISIT OURVISIT OUR SALES OUR SALES CENTRE SALES CENTRE TODAY. CENTRE TODAY. TODAY.
SHEPPARD SHEPPARD SHEPPARD KEELE
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Saturday Saturday in Downsview Saturday in Downsview inPark Downsview Sales Park Centre. Sales ParkCentre. Sales 2995 Centre. Keele 2995 Keele Street 2995 Street Keele North Street North York York North York 416.630.8282 416.630.8282 416.630.8282 Mon toMon Thurs toMon Thurs 12 - to 7pm 12 Thurs -/ 7pm Fri121 /- Fri 7pm 6pm 1 -/ Fri 6pm Sat1&/- Sun Sat 6pm& 11 /Sun Sat - 6pm & 11Sun - 6pm 11 - 6pm
DOWNSVIEW DOWNSVIEW DOWNSVIEW PARK PARK PARK
*Except studio *Except and studio *Except one-bedroom and studio one-bedroom and suites. one-bedroom Prices, suites.specifications Prices, suites.specifications Prices, andspecifications promotions and promotions are andsubject promotions areto subject change aretosubject without changetonotice. without change Illustration notice. without Illustration notice. is artist’s Illustration isimpression. artist’sisimpression. artist’s E. & O.E. impression. E. & O.E. E. & O.E.
COMING COMING COMING SOON. SOON. SOON. URBAN URBAN URBAN & CLASSIC & CLASSIC & CLASSIC TOWNS TOWNS TOWNS IN DOWNSVIEW IN DOWNSVIEW IN DOWNSVIEW PARK. PARK. PARK. REGISTER REGISTER REGISTER NOW NOW MATTAMYHOMES.COM NOW MATTAMYHOMES.COM MATTAMYHOMES.COM P A R KP S A IRDKE PSAT IR DOKEWSN TI D O SE WN TS OWNS
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2:45 PM
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