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Sunday , 26 March 2017

Monthly Archives: March 2016

Builders group rejects inclusionary zoning, favours mid-rise development

In response to the Ontario government’s announcement that it intends to make inclusionary zoning an option for the province’s municipalities to provide more affordable housing, the Residential Construction Council of Ontario (RESCON) has said it opposes the move. Inclusionary zoning “is not a silver bullet solution,” the builders group said in a statement. While the status quo is not acceptable, the government and the building industry must work together to get it right. Inclusionary zoning will help a few people, but it will cause “even bigger affordability problems for many others,” including millennials, who are already struggling to get into the housing market. RESCON has three specific recommendations of its ... Read More »

February busiest homes market in 8 years, regions vary widely

February was the busiest month for home sales in Canada since June 2007, reports the Canadian Real Estate Association (CREA), but the activity was by no means consistent in all markets. National sales were up 18.7 per cent compared to one year ago, and 12.7 per cent higher than the ten-year average for the month of February, but many markets saw declines in sales. On a monthly basis, more markets posted declines in sales activity in February than increases, CREA says. But on a year-over-year basis, the majority of markets experienced increased sales. Aside from the two hottest markets, other markets are well balanced or have ample supply, said CREA ... Read More »

Tridel communities nominated for a dozen 2016 BILD Awards

Tridel is nominated for twelve building industry awards, including the prestigious Green Builder of the Year. The finalists for this year’s Building Industry and Land Development Association (BILD) Awards have been announced, and once again Tridel, Toronto’s best-known condominium developer, is nominated in several categories. Tridel has won the Green Builder of the Year award several times in the past, most recently in 2015, and is up against Mattamy Homes, Minto Communities and Stanton Renaissance for the prestigious award again this year. Tridel’s exciting new development in the Queen Street West neighbourhood, SQ2, is nominated for four awards, including the Pinnacle Award, Best New Community, Planned or Under Development. SQ2 and marketing ... Read More »

New law would let cities use inclusionary zoning to build affordable housing

A long-held hope among advocates for affordable housing in Ontario looks a little closer to being realized. The Ontario government announced that it will introduce inclusionary housing legislation in the legislature before the current session ends in June. The legislation would give municipalities the power to increase the amount of affordable housing built, through inclusionary zoning. Municipalities could use new zoning regulations to make it mandatory for developers to include a certain percentage of affordable units in a residential development in order to be approved. The government said it would consult municipalities, developers and other interested parties in the coming months. Inclusionary zoning has been discussed as a possible solution for ... Read More »

Household net worth up, but so is debt: Statistics Canada

Canadians’ national net worth increased in the fourth quarter of 2015, but so did our household debt. The national net worth increased by 2.5 per cent, Statistics Canada reports, putting it at $9.7 trillion. On a per capita basis, each Canadian is worth $270,600. Household net worth also rose, growing 1.6 per cent to $9.4 trillion. This translates to $263,200 per household. Both financial assets—equities, mutual funds, life insurance assets—and non-financial assets, mainly real estate, grew in the fourth quarter. On an annual basis, financial assets grew at 5.4 per cent, which was slower than the annual growth of 8 per cent in each of the three previous years, Statistics ... Read More »

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