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Toronto Skyline Evolution: Video Shows How City Is Transforming Amid Skyscraper Boom

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

Toronto Skyline Evolution: Video Shows How City Is Transforming Amid Skyscraper Boom

Torontonians probably don’t need another ego boost, but here’s one anyway: The high-rise construction boom in Canada’s largest city is set to continue, and promises to reshape the city’s appearance in the coming years. Using data from the Skyscraper Center database, real estate site Point2 Homes estimates that there are currently 81 skyscrapers either under construction or in the planning phase around Toronto. That would be more than double the current tally. The city...

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Park Hyatt makeover includes revamped rooftop bar, luxury rental apartments

Posted in Communications, Condo Conversions, Development, Finance, Housing, Industry Trends

Park Hyatt makeover includes revamped rooftop bar, luxury rental apartments

Oxford Properties has torn the wrapping off the design of its Park Hyatt hotel makeover revealing what it calls an artistic homage to Canada that includes the preservation of the brick and limestone facade on all sides of the landmark south tower at Avenue Rd. and Bloor St. When it reopens about a year from now, that building will house 65 luxury one- and two-bedroom rental apartments, including five penthouse suites, known as The Residences at Two Avenue Road. It will connect to the 219-room...

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Almost half of Montreal’s renters live alone – CMHC

Posted in CMHC, Communications, Housing, Industry Trends, Newsworthy

Almost half of Montreal’s renters live alone – CMHC

A study from the Canada Mortgage and Housing Corporation (CMHC) revealed that nearly half (45%) of Greater Montréal area households are renters – and that many of them live alone. According to the CMHC’s Housing Market Insight report, 48% of renter households in the Montréal were people living alone. The report also found that about 35% of all renter households had incomes below $30,000, before taxes. Households with incomes above $100,000 accounted for only 5% to 8% of renters in most sectors...

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Starlight acquires 45 buildings in less than 60 days

Posted in Appraisal, Communications, Finance, Housing, Industry Trends, Newsworthy

Starlight acquires 45 buildings in less than 60 days

Starlight Investments is a privately held Toronto-based, full service, multi-family and commercial real estate investment and asset management company driven by an experienced team of over 150 professionals. The company currently manages over $9.0 billion of direct real estate as well as real estate investment securities. Investment vehicles include institutional joint ventures, True North Commercial REIT, Starlight U.S. Multi-Family Funds and Starlight Capital Funds. Starlight Investment’s...

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Vancouver city council to consider removing developer incentives for new rental housing

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Legislation, Newsworthy

Vancouver city council to consider removing developer incentives for new rental housing

COPE councillor Jean Swanson has submitted a motion for consideration to “suspend, as soon as possible,” the development cost levy waiver private developers are provided for building market rental housing, until a review of Rental 100 is completed. She is requesting city staff to explore ways to use the municipality’s new rental-only zoning powers to incentivize new rental housing that “truly meets the needs of low and middle-income renters” and “stop incentivizing demovictions by excluding...

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Here’s what you could buy with the federal budget’s housing plan

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Housing, Industry Trends, Newsworthy

Here’s what you could buy with the federal budget’s housing plan

As part of its 2019 federal budget, Justin Trudeau’s government unveiled a program that aims to address housing affordability across the country. The plan includes Canadian Mortgage and Housing Corp. (CMHC) providing funds to help reduce mortgage costs for low- to middle-income first-time homebuyers. Under the First-Time Home Buyer’s Incentive, Ottawa is setting aside $1.25 billion over three years towards so-called shared equity mortgages, which it expects will be used by 100,000...

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ASH REIT to buy student accommodation across Ontario

Posted in Appraisal, Communications, Development, Finance, Housing, Industry Trends, Newsworthy, Student Housing

ASH REIT to buy student accommodation across Ontario

Alignvest Student Housing Inc. has announced an investment in high-quality student housing across Ontario. The REIT aims to consolidate Canada’s high-quality student housing sector which is says is fragmented. It has been focused on this aim since its inception in June 2018. Alignvest is in conversations with several property owners across the country and this latest deal doubles its asset base, enabling it to make economies of scale. It will add more than 3,300 PBSA beds to the REIT’s assets,...

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2019 Residential Tenancies Act Seminars

Posted in Bylaws / Regulations, CMHC, Finance, Health & Safety, Housing, Industry Trends, Legal, Legislation, Maintenance, Newsworthy

2019 Residential Tenancies Act Seminars

Date and Time: Apr 2, 2019 8:00am to May 2, 2019 12:00pm Location: Toronto, London, Hamilton, Scarborough and Ottawa FRPO will once again hold the ever popular Residential Tenancies Act seminars throughout April and May. In the last couple of years, there have been many changes in our industry. This year’s event will focus on residential tenancies in a hot rental market. Topics include ‘hot button’ issues such as rent strikes, Cannabis Act impacts, renting to roommates, rules about obligations...

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12-Storey Affordable Rental Proposed on Kipling in Rexdale

Posted in Communications, Development, Housing, Industry Trends, Newsworthy

12-Storey Affordable Rental Proposed on Kipling in Rexdale

As a housing crisis grows more urgent across the region, the City of Toronto’s 2016-approved Open Door Affordable Housing Program is finally starting to net results. The program aims to incentivize affordable housing construction by providing financial contributions and tax cuts for developers. One result is a newly submitted application for an affordable housing project at 2667 Kipling Avenue, a short distance north of Finch Avenue West in Etobicoke’s Rexdale area. The property...

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Non-resident ownership and participation in B.C., Ontario & Nova Scotia

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

Non-resident ownership and participation in B.C., Ontario & Nova Scotia

The presence of non-resident owners on Canada’s housing market is a subject that continues to generate a lot of interest. Our latest Housing Market Insight (HMI) takes a new look at non-resident ownership. Using data from Statistics Canada, we look at non-resident participation in British Columbia (B.C.), Ontario and Nova Scotia. We also examine the number of owners for each residential property in the 3 provinces. What is non-resident participation? A property is classified as having...

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