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Sunday , 26 March 2017

Monthly Archives: March 2017

Tridel’s Aquabella in running for People’s Choice Award for best new development

Award-winning Toronto condominium builder Tridel says that its Aquabella condos, now in preconstruction at the new Bayside community on the eastern waterfront, was designed to put people first. Now the people have the chance to put Aquabella first. The striking waterfront building, designed by the architectural firm 3XN of Denmark, is shortlisted for the BILD People’s Choice Awards, to be announced at the end of April. In its description of Aquabella, Tridel calls it a “resort destination in the city,” and “luxury by the lake.” Those lucky enough to live at Aquabella will be immersed in city and sky, where “mornings are more magnificent, evenings more romantic, the everyday more ... Read More »

Single family home starts up in Toronto, condos down in February: CMHC

One can’t read too much into one or two months’ activity, but perhaps there is hope on the horizon for Toronto buyers looking for those scarce single detached homes. Builders of this type of home had a busy February in Toronto, and in Ontario generally, according to the latest statistics from Canada Mortgage and Housing Corporation. The actual number of singles started in Toronto in February (790) was up 8 per cent compared to a year ago; to date this year, the number of new singles is up 21 per cent, compared to the same period last year. Seasonally adjusted, the number is 17,225, the highest level for February in ... Read More »

Banks, mortgage professionals urge government to hold off on further changes to lending

The government of Canada’s role in housing is clear: it’s to promote housing affordability and choice, to facilitate access to financing for home buyers, and to keep the housing sector strong. This is all laid out in the National Housing Act. In support of these objectives, the government extends low-cost funding to mortgage lenders. At present, mortgage insurance backed by the government covers 100 per cent of lender claims for mortgages that default. The government has been exploring ways to reduce that 100 per cent guarantee and spread some of the risk to the lenders. One way it has proposed is through some form of deductible scheme. The lenders, mainly ... Read More »

Education, personal use top reasons Chinese seek Canadian homes: report

Finally, we have hard data about how many Chinese have bought, or thought about buying, Canadian homes, and why. It turns out, as so often happens, that the popular perception is not quite right. Chinese homebuyers in Vancouver and Toronto are not all wealthy investors whose activities in the market have helped drive prices higher; rather, they are mostly families looking for a home in a city where their children can get a good education, and they are prepared to spend, on average, less than local buyers to acquire their homes. These are some of the findings of a new report from a Chinese real estate company, Juwai.com, together with ... Read More »

Gordie Howe Bridge between Detroit and Windsor will have bike lane and pedestrian access

The only party opposed to the building of a new bridge between Detroit and Windsor is the businessman who owns the existing Ambassador Bridge. Manual Moroun has been trying to block the new bridge, named for hockey great Gordie Howe, for years, fearing that it will drain his profits. A huge volume of trade crosses between the two countries every day, and Maroun stands to lose a lot of it. The new bridge will have six lanes of traffic, while the Ambassador has just four. The bridge will be built, though. It has the blessing of no less a trade protectionist than Donald Trump. He and Prime Minister Trudeau mentioned ... Read More »

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