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Condo Conversions

CMHC partners to improve housing data in Canada

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Condo Conversions, Development, Finance, Housing, Industry Trends, Insurance, Legislation, Newsworthy, Professional Services, Real Estate Law

CMHC partners to improve housing data in Canada

At Canada Mortgage and Housing Corporation (CMHC), we see ourselves as Canada’s authority on housing. If we don’t have the answers or expertise in-house, we can tell you who does. That’s part of being a trusted source of information on housing. Being an authority means that we continuously work to maintain the data, tools and partnerships we need to have a complete picture of Canada’s housing markets. It also means that we need to identify the data gaps that stand in the way of bringing that...

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This Toronto building shows why developers are converting rentals to condos

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Condo Conversions, Development, Finance, Housing, Industry Trends, Legislation, Newsworthy, Real Estate Law, Rent Control

This Toronto building shows why developers are converting rentals to condos

This week, a major new development’s condo units sold out, just days after they went on sale. But those same units had originally been designated as rental, before the new rent control legislation led the developers to have a change of heart. On Tuesday, RioCan and Allied Properties announced that the condo units at the downtown Toronto King Portland Centre — 133 units which went on sale just a few days before, on October 14 — where substantially sold out. “The strong response to the sales...

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Building New Rentals Can Help Ontario Kick Its Housing Crisis

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

Building New Rentals Can Help Ontario Kick Its Housing Crisis

by Jim Murphy President, Federation of Rental Housing Providers of Ontario Failure to do so will put more pressures on vacancy rates and continue to inflate housing prices while squeezing new entrants out of the market. With housing prices and apartment rents at an all-time high, Ontario is facing a housing affordability and supply challenge that’s left many people unable to find affordable housing options in its biggest cities. Even with a fall back in the market over the past few...

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Is Airbnb really stripping this many homes from Canada’s biggest rental markets?

Posted in Appraisal, Bylaws / Regulations, Communications, Condo Conversions, Finance, Housing, Industry Trends, Newsworthy, Real Estate Law, Tenancy Law

Is Airbnb really stripping this many homes from Canada’s biggest rental markets?

As major Canadian housing markets like Toronto and Vancouver grapple with limited housing supply and worsening affordability, many have speculated that Airbnb may be exacerbating the issue. A new study from McGill University has quantified just how much of an impact the hugely popular short term rental platform is having on the rental housing pool in Canada’s three largest cities. The study by McGill’s School of Urban Planning found Airbnb was responsible for slashing roughly 14,000 rental...

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Converting an old factory into new affordable housing

Posted in CMHC, Communications, Condo Conversions, Development, Finance, Housing, Newsworthy, Retrofit

Converting an old factory into new affordable housing

A former factory building that closed in 1990 has reopened in 2015 as a new, bright and comfortable 54-unit residence. Managed by Indwell, a local charity, Harvey Woods Lofts provides affordable housing and a measure of independence to low-income residents living with mental illnesses or other disabilities, who require housing with supports. For residents like Dennis, the new housing is helping him to create a better life. “I was homeless, sometimes crashing on people’s couches, sometimes on...

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Cracking down on Airbnb

Posted in Bylaws / Regulations, Communications, Condo Conversions, Finance, Housing, Industry Trends, Insurance, Legislation, Newsworthy, Real Estate Law, Tenancy Law

Cracking down on Airbnb

Story by: Justin da Rosa Condo managers are already cracking down on Airbnb rentals prior to the expected regulation in Toronto. The city is currently reviewing the impact short-term rentals such as Airbnb have on Toronto real estate, with an eye on regulating that increasingly lucrative investment option. It released a report earlier this about the growing influence of the home-sharing program and claimed it is currently researching key issues, consulting with key stakeholders and will...

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Hamilton developments mix the old with the new

Posted in Communications, Condo Conversions, Development, Exterior Building, Industry Trends, Interior Building, Restoration

Hamilton developments mix the old with the new

Character is the name of the game when it comes to downtown residential and commercial developments in Hamilton. Witton Lofts When Steve Kulakowsky and his partner David Sauve bought the old McIlwraith Public School for $750,000 in 2011, they wouldn’t put their condo sales centre on the site. “We weren’t sure if anybody would actually want to live in that area,” said Kulakowsky. But the 36-unit Witton Lofts was just ahead of the curve as the first condo built north of...

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The Toronto condo boom is bringing wave of startups to the city

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

The Toronto condo boom is bringing wave of startups to the city

Story by: Josh Sherman The groundswell in high-rise development that has dramatically altered Toronto’s skyline in recent years is also luring startups to the city’s downtown core, says a commercial property manager and developer with real estate investments stretching from Vancouver to Quebec City. “The condo boom that we all love to hate and love and hate has done a lot to facilitate the formation of successful businesses downtown,” says Michael Emory, CEO of Allied Properties REIT, which...

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Industry transactions making headlines

Posted in Appraisal, CMHC, Communications, Condo Conversions, Development, Finance, Housing, Industry Trends, Legal, Milestones, Newsworthy

Industry transactions making headlines

The rental housing sector is forever changing, evolving and reshaping itself. Industry players are constantly adapting to market conditions in order to identify strategic opportunities for growth and diversification. Here are some of the transactions making headlines: Skyline Apartment REIT Acquires 6-Property Sarnia & Niagara Falls Portfolio Centurion Apartment REIT Announces the Pending Acquisition of an Apartment in Guelph, Ontario. Timbercreek Asset Management Appoints New President...

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Vancouver rentals quadruple, but residents question affordability

Posted in Appraisal, CMHC, Communications, Condo Conversions, Development, Finance, Housing, Industry Trends, Newsworthy

Vancouver rentals quadruple, but residents question affordability

Story by: CBC News City incentive program ‘encouraged developers to switch to rentals,’ says housing budget chief Mukhtar Latif The percentage of new rental units built in Vancouver has soared in the last decade — but some residents say it has not led to more affordable housing. Mukhtar Latif, the city’s housing budget chief, said new rental units jumped from five per cent of new housing starts between 2005-2009 to roughly 20 per cent between 2010 and 2014. He attributes the...

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