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Wednesday , 24 August 2016

Category Archives: Greater Toronto Scene

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Special coverage of the GTA Condominium and lifestyle scene.

DelSuites wins TripAdvisor Certificate of Excellence for third year in a row

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Another of the Tridel Group of Companies, this time DelSuites, has received international recognition for excellence. For the third year running, DelSuites has received a prestigious TripAdvisor Certificate of Excellence. The recognition is given to those businesses in the hospitality industry that have received excellent reviews on TripAdvisor over the past year. To qualify for the award, a business must maintain an overall TripAdvisor rating of four out of five and must have a minimum number of reviews. TripAdivsor, which claims to be the largest travel website in the world, has been giving the Certificate of Excellence for six years now. A week ago, Del Property Management received a Consumer ... Read More »

Tim Hudak, “strong advocate for home owners,” named new CEO at OREA

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Tim Hudak, the former leader of the Ontario Progressive Conservatives who twice failed to return the party to power, losing a general election first to the Dalton McGuinty Liberals in 2011 and again to Kathleen Wynne in 2014, is leaving politics and taking over as CEO of the Ontario Real Estate Association (OREA). He had been an elected MPP for twenty-one years. A first reaction to the news was one of mild surprise. What did Tim Hudak have to do with real estate? But in a statement announcing his appointment to the position of CEO, OREA says that throughout his time at Queen’s Park, Hudak has been a strong advocate ... Read More »

Little support for foreign-buyers tax in Toronto’s housing market

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It must be very tempting for Mayor John Tory, and Ontario Finance Minister Charles Sousa, to want to follow the lead of the British Columbia government and impose a hefty tax on foreign buyers of Toronto real estate. BC Premier Christy Clark announced the surprise 15 per cent surtax for Vancouver two weeks ago, and many have speculated that those foreign buyers will now shift their attention to Toronto rather than pay the tax in Vancouver. The BC tax takes effect today. As things are now, foreign buyers who do come east will find Toronto less expensive than Vancouver, but perhaps not for long. Based on numbers published today by ... Read More »

Fast Internet coming to rural SW Ontario; SWIFT gets $180 million funding

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The dream of rural southwestern Ontario residents to have access to affordable ultra-high-speed fibre optic broadband internet service is a little closer to reality today after a funding announcement by the provincial and federal governments. Ottawa and Queen’s Park each contributed $90 million to the Southwestern Integrated Fibre Technology (SWIFT) project, which aims to deliver high-speed internet to approximately 3.5 million rural Ontarians in 350 communities. SWIFT plans to build the high-speed broadband network so that everyone in western Ontario has access, “regardless of the size of their community, their age, education or where they work.” With $180 million in funding now in place, the project is expected to move ... Read More »

More Toronto renters chasing fewer apartments: commercial vacancy hits new low

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The big word in Toronto real estate these days, on both the commercial and residential side, is rent. For renters looking for a place to live in the city, condominiums continue to provide a major source, though the number of condos listed in the second quarter declined slightly. At the same time, the number of purpose-built rental buildings is increasing. For business renters in the city, space is getting more and more scarce, as Toronto’s office vacancy rate dropped below 5 per cent, the lowest downtown vacancy rate in a major North American market. Industrial space is also getting scarce as Toronto now has the third lowest availability rate in ... Read More »

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