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Darwin's Weston Place breaks new ground for firm
Darwin's Weston Place breaks new ground for firm
The Weston Place condominium development is a complete change of pace for Darwin Properties both in terms of where it builds and the types of housing it develops - in West Vancouver as a multifamily condo.
Lender sues law firm over Toronto condo development
A Chinese state-owned lender that provided early financing for The One, Sam Mizrahi and Jenny Coco’s luxury condo development in Toronto, is suing its Canadian legal counsel for negligence and a breach of fiduciary duty, according to court documents.
Ottawa considers limiting Airbnbs to free up rentals
The federal cabinet is considering limits to Airbnbs to free up more long-term rental units with municipal bylaw changes. The change would be intended to alleviate rental shortages in big cities and communities such as resort towns like Banff.
10 Toronto condos have 50 or more short-term rentals
Ten downtown Toronto condo buildings have more than 50 units on short-term rental sites such as Airbnb, with nearly 8,000 operating across the city, according to an online database of registered short-term rentals from Toronto’s open data portal.
RCMP opens investigation into Greenbelt land swap
The Royal Canadian Mounted Police (RCMP) has launched a criminal investigation into Premier Doug Ford’s $8.28-billion Greenbelt land swap scandal. The RCMP branch that probes corruption and political crimes is formally on the case.
Builder defaults on payments linked to Fortress
Richmond Hill-based real estate developer Sunrise Homes has defaulted on a court-ordered settlement to repay the millions of dollars it owes to lenders caught up in the collapse of Canada’s one-time largest syndicated mortgage company Fortress Real Developments Inc.
Private mortgages carry significant risks
In Ontario, the proportion of all brokered mortgages taken out through private lenders has grown from 8.4 per cent in 2014 to 11.7 per cent last year, according to data from the Financial Services Regulatory Authority of Ontario (FSRA).
47-year mortgages could be coming
Canada's top banking regulator will soon implement new guidelines for the mortgage market, aimed at reducing the risks posed by negative amortization mortgages, real estate loans where payments are no longer enough to pay down the loan.
Developer commits funds rather than provide units
York Developments has committed to giving $500,000 to Indwell, an agency that provides deeply affordable housing instead of including affordable units in its proposed downtown condo highrises. London has no way to mandate affordable housing in new developments.
Planned east Windsor condos cited as needed housing
The neighbourhood around 1646 Alexis Rd. in Windsor, Ont., could look very different in two years, if developer, MEO & Associates Inc. $35-million project incorporating two six-floor condo buildings with a compbined 92-unit, residential property receives municipal approvals.
Urban planner advocates new housing on golf courses
Patrick Condon, who teaches in the School of Architecture and Landscape Architecture at the University of British Columbia is advocating for the conversion of some public golf courses into land for housing developments to alleviate the housing affordability crisis.
Vanc. OKs review of view cone impacts on housing
Protected mountain view cones in Vancouver is to go through a review that will determine the amount of additional housing, job space, hotel space, and public benefits that could potentially be built on sites with building height restrictions.
Young Canadian households leaving housing market
The highest interest rates in years have dampened demand for new mortgages, with one group in particular has been affected: young households. Statistics Canada recently examined the financial hit taken by households with primary income earners younger than 35.
Canadian bosses admit work from home is here to stay
Only 55 per cent of Canadian business leaders think staffers will return to the office full-time within the next three years, according to the latest CEO Outlook report from KPMG LLP, a big drop from last year's 75 per cent.
Stats Canada reports building permits up 3.4% in Aug.
Statistics Canada says the total monthly value of building permits rose 3.4 per cent in August to $11.9 billion, as the non-residential sector offset declines in residential construction plans and a 14.8 per cent rise in non-residential permits.
Ottawa sees fewest housing starts in 25 years: CMHC
The City of Ottawa saw the fewest freehold housing starts in 25 years during the first half of 2023, as price increases and high mortgage rates reduced demand for freehold housing according to Canada Mortgage and Housing Corporation (CMHC).
How interest rates will drive Canada's housing market
Lower interest rates might be the only thing that could revive Canada’s housing market when supply outpaces demand in the major urban areas. Longer-term factors such as immigration won’t impact the market until the economy is past the high-rate environment.
More rate hikes would break housing market: U.S orgs
The National Association of Realtors, National Association of Home Builders and the Mortgage Bankers Association joined to “convey profound concern” should the Fed contemplate further interest rate hikes or begin actively selling its mortgage portfolio, the housing market would crash.
Financially troubled StoryBuilt to sell $2B portfolio
Austin, Texas-based infill housing developer StoryBuilt is putting its 28-property project portfolio on the market in a receivership sale as it faces a series of financial challenges. The company has projects throughout Austin, Dallas, Denver and Seattle.
Aussie renters suffer far more than mortgage holders
The Reserve Bank of Australia showed that around 13 per cent of mortgage holders are spending more on essentials and mortgage repayments than they earn, up from around five per cent prior to a May 2022 rate hike.
Industry Events
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Canadian Home Building Association: National Fall Meetings
Oct 21 2024
to Oct 25 2024
Ottawa, Ontario
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Canada Real Estate Auction
Oct 22 2024
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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Housing Central Conference
Nov 18 2025
to Nov 20 2025
Sheraton Vancouver Wall Centre Hotel, BC
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