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Windmill’s Courcelette turns former Toronto garage into green condo
Windmill’s Courcelette turns former garage into green condo
Sustainable developer Windmill Development Group has broken ground on its Courcelette mid-rise condo in Toronto’s The Beaches neighbourhood, promising a climate-friendly property of eight storeys and 56 units.
London retailer offers $200K, 2-bedroom backyard house
Copp’s Buildall, a London building supply company, has developed a backyard two-bedroom house that is 67 square metres that it will build on your property, pending city approvals, said Mac Copp, branch manager of the downtown London store.
Housing starts flat in major markets first half of 2023
Housing supply in Canada's largest cities, including single, semi-detached, row housing and apartments, grew one per cent in the first half of 2023 compared to the same period in 2022 according to Canada Mortgage and Housing Corporation's Housing Supply Report.
Toronto RE class-action could affect billions in commissions
A Federal Court judge on Sept. 25 allowed a class-action lawsuit alleging home sellers in the GTA have been forced to pay artificially inflated commissions for years. The lawsuit alleges major brokers in Toronto implemented rules that essentially stifled competition.
Private sector should increase role in housing market: CMHC
Forecasts from the Canada Mortgage and Housing Corporation (CMHC) show that Canada's housing stock will need to reach more than 22 million units by 2030 to become 'affordable', which will require a total investment estimated at around $1 trillion.
Ottawa, Hamilton Greenbelt land transfers benefit developers
The same Friday in November 2022 that the Ontario government announced plans to take certain developers' land out of the GTA Greenbelt, it also made moves that benefited developers who own rural land on the outskirts of Ottawa and Hamilton.
55 Charles tops off three years after ground breaking
Three years after its ground-breaking ceremony, 55 Charles Condos has topped off and nearly completed its building envelope. The 50-storey tower from MOD Developments is at 55 Charles Street East in Toronto's Bloor Yorkville area
Development charges in Quebec raise condo prices $34,000
Cities and associated organizations in search of new revenue have increased fees to property developers who then pass them on to consumers. The Urban Development Institute of Quebec (IDU), a lobby for real estate developers, is opposed to these fees.
Demovictions in Toronto, possibly worsening rental market
As Toronto renters feel the squeeze of a competitive market with prices that won't stop climbing, some market watchers are alarmed about a practice they say is displacing them while temporarily taking lower cost units off the market: demovictions.
Edmonton to tax owners of derelict properties
Edmonton has passed a new tax subclass that will tax derelict property owners, including properties abandoned during demolition or construction, as part of a larger effort to combat “problem properties and encourage community vibrancy.”
Clean energy can save households thousands per year: report
Household investments into clean energy including electric vehicles (EVs) and heat pumps can reduce a family's energy bills by hundreds of dollars per month, according to A Clean Bill, a report from Clean Energy Canada.
Toronto housing real estate shifts to buyers’ market
Toronto entered a buyers’ market with new listings volumes growing quickly while many properties are taking a long time to sell. In September, the seasonally adjusted sales-to-new-listings ratio was 35.8 per cent, the lowest ratio since Q4 2008, CREA reports.
Montreal home sales rise in Sept. 2023 from Sept. 2022
The Quebec Professional Association of Real Estate Brokers says Montreal home sales in September rose nine per cent compared with a year ago, well below historic averages. Home sales in Montreal totalled 2,738, up from 2,514 in September 2022.
Home prices too high for current interest rates: ex-banker
The benchmark price of a home in Canada was $757,600 in August, up 40% in five years, with parts of Ontario and Quebec experiencing bigger increases. This can't be justified if current interest rates remain, says Paul Beaudry.
Alternative home financing models come with trade-offs
Alternative lenders are responding to Canada’s borrowing limitations by offering a range of non-traditional financing models, including co-ownership and shared-equity mortgages, but financial planning and mortgage experts say consumers should be aware of what they’re giving up.
Quebec needs 3,000 senior rental units per year
To cope with the aging of the population in Quebec, 3,000 new accommodation spaces for seniors should be added each year to the real estate stock. Currently elderly people wait more than 600 days to obtain a place to live.
Halifax waives taxes owed by historically Black community
Halifax region waived back taxes owed by property owners in North Preston, a predominantly African community where Black settlers weren’t given clear title to their land until recently. In the 1800s only white settlers were given clear land titles.
Sales of new condos in Manhattan fall 40% from Q2
Just 241 contracts were signed for new condo units in Manhattan last quarter, down 40% from Q1 and 30% from a year ago. Contracts in Manhattan for new condos totalled $911M in Q3 reports Brown Harris Stevens Development Marketing.
Distress ahead for Atlanta apts. but lenders delay foreclosures
A wall of $8B in multifamily mortgage-backed securities is set to mature this October and November, raising concerns that the glut of maturing debt could lead to a wave of defaults for the multifamily sector.
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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