Vancouver project promises 6 decades of affordability
In its announcement earlier this week, the CMHC introduced the latest project to benefit from its Rental Construction Financing initiative: Conrad by Cressey Development in Vancouver. The $40.2-million investment will ensure a prolonged haven of affordability for the city’s struggling middle-class families. “Over 60% of the units will have rents at or lower than 30% of median household income in the area and, under an agreement with the City of Vancouver, this affordability will be maintained...
read moreMontreal’s largest mixed-use complex to arise soon
Devimco Immobilier, in cooperation with the Fonds immobilier de solidarité FTQ and Fiera Properties, has announced the development of the MAESTRIA mixed-use project, which will be the largest of its kind so far in Montreal’s Quartier des spectacles. Construction of the 2 towers (51 and 53 storeys tall) will commence by the end of next year. The entire complex will offer 1,000 condo units and 500 rental spaces. Marketing of units will start on February 2019, with the spaces offered ranging from...
read moreGM Plans to Close Canadian Plant in Global Overhaul
A car plant that General Motors Co. has operated for 65 years in Canada could be on the verge of shutting down as part of what a union says will be a global overhaul of the automaker’s operations. The company will announce Monday that it’s ending production at its plant in Oshawa, Ontario, two people familiar with the plans said, speaking on condition of anonymity. Unifor, Canada’s autoworkers’ union, said it’s been told there is no car production assigned to the factory beyond next year,...
read moreCFAA OPEN CALL: Federal money for building retrofits
CFAA is lobbying the federal government to loosen the strings on retrofit grants and loans. Tell us what would lead you to take up the money! Email admin@cfaa-fcapi.org to tell us if you (or someone from your company) can attend a telephone conference call at any or all of these dates and times: Tuesday, December 4 2 to 3pm EST Thursday, December 6 11:30 to 12:30 EST Thursday, December 6 2 to 3pm EST We will fix one or two of those times for the call(s). Before the...
read moreWhich neighbourhoods have seen large spikes in rent? The Star mapped 5 years of rental data in 15 Canadian municipalities
A conversation about housing has to start with numbers. Whether you’re a tenant struggling to find a home or a government crafting new policy during a nationwide housing crisis, you need to have a grip on good data. The hunt for rental housing, particularly in Toronto and Vancouver, has become increasingly competitive and confusing as the number of people looking to live in cities continues to outpace what is actually being built. “Renters going to shop for a place to rent have almost no...
read moreMontreal housing market continues hot streak to 2020
Continued economic growth will drive Montreal’s housing upswing to 2020, according to the latest Housing Market Outlook report from the Canada Mortgage and Housing Corporation (CMHC). The report also forecasts that the Montreal construction boom will continue its growth, with new projects coming off the ground in the next few months. “In the condominium segment, construction will increase thanks to a steady demand supported by employment growth and also to significantly lower inventories of...
read moreToronto apartment inventory having trouble catching up with demand
Toronto’s apartment segment is experiencing a healthy infusion of new supply, but a new analysis by Marcus & Millichap indicated that the rate of addition is not proving enough to address the inflamed levels of demand for the city’s residential spaces. The Toronto Multifamily Spotlight report for November 2018 stated that the first 3 quarters of 2018 saw the addition of 2,500 new apartments, putting the delivery rate on track to reach the highest level since 1994. However, elevated prices...
read moreIn Morneau’s fall update, corporate Canada awaits competitiveness plan
Competitiveness. If there’s been a single issue for Canadian business leaders to rally around this year it’s that one – and more specifically losing their competitive advantage with our largest trading partner, the United States. As U.S. President Donald Trump’s administration slashed the corporate tax rate from 35 to 21 per cent and accelerated how quickly U.S. companies can write-off most equipment, attention turned to Ottawa for a strategic response from Justin Trudeau’s Liberal government....
read moreCanada’s Cannabis Advantage Going Up in Smoke as U.S. Moves In
Canada’s competitive advantage in cannabis is disappearing. Half of the 10 biggest marijuana companies trading in Canada are now U.S. based, including MedMen Enterprises Inc. of Los Angeles, Curaleaf Holdings Inc. of Wakefield, Mass., and Green Thumb Industries Inc. of Chicago. Quincy, Florida-based Trulieve Cannabis Corp. and Boulder, Colorado-based Charlotte’s Web Holdings Inc. are among the top 10. Canadian companies still take the top three spots north of the border, though the biggest pot...
read moreRemoving rent control on new units won’t ease Toronto’s housing crisis, tenant and housing experts say
The Ontario government’s removal of rent controls on new, previously unoccupied rental units will mean higher housing costs in the future but won’t do much to relieve Toronto’s historically low vacancy rate, at least in the near term, say tenant and housing experts. Starting immediately, rent control rules will no longer apply to buildings and flats being rented for the first time, the Progressive Conservative government announced in an economic statement on Thursday. “Everybody who’s an...
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