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Wood frame buildings could help alleviate ‘missing middle’ shortage

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

Wood frame buildings could help alleviate ‘missing middle’ shortage

Wood frame buildings are not only bringing dynamism to Ontario’s landscape, they’re being touted as a way to develop “missing middle” housing in Toronto. “Wood frame is a gentle-density option,” said Joe Vaccaro, CEO of the Ontario’s Home Builders’ Association. “It’s that missing middle piece that you can bring into the right location to help people find a home where they can work, live and play. In our mind, it’s a great option as a new supply chain. There are also lots of transit areas with...

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First Ever Passive House High-Rise Retrofit In Canada Announced In Hamilton

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Finance, Health & Safety, Housing, Industry Trends, Newsworthy, Retrofit, Senior Housing

First Ever Passive House High-Rise Retrofit In Canada Announced In Hamilton

Seniors in Hamilton will soon have new affordable housing options thanks to the Ken Soble Tower transformation that will make this high-rise the first retrofit Passive House tower in Canada. On Wednesday in Hamilton, Adam Vaughan, Parliamentary Secretary to the Minister of Families, Children and Social Development (Housing and Urban Affairs), on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and the Minister responsible for Canada Mortgage and...

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Positive Developments for Housing Providers on Reasonable Accommodation

Posted in Bylaws / Regulations, Communications, Development, Elevators, Escalators, Exterior Building, Fire Safety, Health & Safety, Housing, Industry Trends, Insurance, Interior Building, Legal, Legislation, Newsworthy, Tenancy Law

Positive Developments for Housing Providers on Reasonable Accommodation

Two recent decisions of the Human Rights Tribunal are instructive for those in property management with respect to the duty to accommodate.  Both cases involved physical modifications to residential complexes and include insight into: the procedural duty to accommodate; the substantive duty to accommodate; and, what is reasonable accommodation. In Polito v. Briarlane, the tenant requested accessible access to the residential complex by way of an automatic door opener on the front doors.  The...

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Canada’s First Accessibility Bill Could Become Law Next Month: Minister

Posted in Bylaws / Regulations, Communications, Development, Exterior Building, Housing, Industry Trends, Insurance, Interior Building, Legal, Legislation, Newsworthy, Real Estate Law, Suite Renovations

Canada’s First Accessibility Bill Could Become Law Next Month: Minister

The federal government will heed the calls of Canada’s disabled community and amend the country’s first piece of national accessibility legislation to include some of the changes they sought, the minister spearheading the effort said Thursday. Accessibility Minister Carla Qualtrough said the government will be adopting all the amendments the Senate introduced to Bill C-81, also known as the Accessible Canada Act, when it comes back before the House next week. Earlier this month, the upper...

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Alberta official questions data used in B.C. money laundering report

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

Alberta official questions data used in B.C. money laundering report

A report commissioned for the government of British Columbia warned that money laundering in real estate is widespread across Canada – but a government official in Alberta is alleging that the conclusions are based on unreliable data. According to the report from former B.C. deputy attorney general Maureen Maloney, more than $7 billion in dirty money was laundered in the province in 2018, hiking the cost of buying a home by about 5%. The report also estimated that Alberta had $10 billion...

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Sizes of new condos in largest cities trending downward

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

Sizes of new condos in largest cities trending downward

The median sizes of new condos in Vancouver and Toronto have been on a significant downward trajectory over the last few years, according to a Better Dwelling analysis of assessments and floor area numbers from Statistics Canada. Newly built units in Vancouver are approximately 16% smaller than the city’s peak condo size, which was seen between 1971 and 1991. A unit dating from 2016 to 2017 measured 769 square feet on average, around 3.6% smaller than a unit built between 2011 and 2015. The...

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Housing starts beat expectations, jumping 20%; condos, apartments up 30%

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

Housing starts beat expectations, jumping 20%; condos, apartments up 30%

The pace of housing starts in Canada picked up in April as they rose more than 20 per cent compared with March, fuelled by the start of work on new multi-unit projects such as condominiums, apartments and townhouses. Canada Mortgage and Housing Corp. said Wednesday the seasonally adjusted annual rate of housing starts increased to 235,460 units in April, up 22.6 per cent from 191,981 in March. Economists had expected an annual pace of 196,400, according to Thomson Reuters Eikon. Priscilla...

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RioCan plans its first CMHC-backed financing for Toronto rental tower

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

RioCan plans its first CMHC-backed financing for Toronto rental tower

RioCan Real Estate Investment Trust (REI_u.TO 0.43%) is planning to tap funding backed by Canada’s housing agency for the first time to help finance a rental building in Toronto, according to its chief executive officer. Toronto-based RioCan plans to borrow about $200 million of Canada Mortgage and Housing Corp.- backed financing from a bank for their 36-story rental tower at Yonge and Eglinton, dubbed eCentral. The company, Canada’s second largest REIT by market value, is still awaiting...

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B.C. says $5B laundered in housing market, pushing prices up 5%

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

B.C. says $5B laundered in housing market, pushing prices up 5%

A report that estimates $5 billion was laundered through British Columbia’s real estate market last year also lifts the lid on the extent of illegal cash moving across Canada. Some $7.4 billion overall was laundered in B.C. in 2018, out of an estimated total of $47 billion in Canada, concluded the report by an expert panel led by former B.C. deputy attorney general Maureen Maloney. The report is one of two released Thursday and says B.C. ranks fourth for money laundering among a division...

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Ontario Government Announced its Housing Supply Action Plan: More Homes More Choice

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

Ontario Government Announced its Housing Supply Action Plan: More Homes More Choice

The Honourable Steve Clark announced the provincial government’s Housing Supply Action Plan. The measures proposed will help get more purpose-built rental housing built in Ontario. It will reduce barriers to development by: Speeding up the development approvals process by reducing the costs of delayControlling fees and charges that must ultimately be paid by the renterUpdating policy to encourage more units in the right places, like transit hubs, and other places where density is both...

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