GTA Condo Life - February 26, 2022

Greater Toronto Area Feb. 26–March 26, 2022

Greater Toronto’s COMPLETE CONDO GUIDE

Lifetime Developments Newest Condo at King & Dufferin

INSIDE:

GTA CONDO SALES REACH ALL-TIME HIGH IN 2021

BRAMPTON – WHERE THE FUTURE IS NOW

COMING SOON TO GERRARD + PARLIAMENT

THE GRANDEUR AND THE GLAMOUR OF DOWNTOWN LIFE…

A LOCATION FOR TODAY AND TOMORROW For those who love the city for its energy and glamour, here’s a boutique condominium residence destined to offer something unexpectedly grand and vibrant. Emerging on Gerrard Street East at the southern tip of colourful and eclectic Cabbagetown, The Georgian offers urban-minded home seekers beautiful polished, classically inspired larger suites including 1-bedroom and den, 2-bedroom and 3-bedroom collections in an intimate building purveying the luxe of contemporary living surrounded by transit, shopping, and the convenience of downtown Toronto.

Boutique Residences Starting from the $800’s Register Now:

TheGeorgianResidences.ca

Specifications are subject to change without notice. Renderings are artist’s concept. E.&O.E.

LUXURY REACHES A NEW HEIGHT

Introducing Brampton’s tallest residential condominium with elegant suite designs, sophisticated lifestyle amenities and top-of-the-line finishes.

Live connected to everything in the heart of downtown Brampton with GO train and transit right around the corner.

COMING SOON REGISTER NOW

BRISTOLPLACECONDOS.CA OR SCAN QR CODE

Brokers are protected. Davie Real Estate Inc. Brokerage.

Prices and specifications are subject to change without notice. E. & O. E.

STEPS TO GO, VIA RAIL, RAPID TRANSIT, ALL MAJOR HIGHWAYS AND BRAMPTON’S WORLD-CLASS INNOVATION DISTRICT

1 bedroom, 1 bedroom plus den, 2 bedroom & 3 bedroom designs

CONDOS AT THE GATEWAY

BETTER OFF IN BRAMPTON. Absolutely! Now that DUO is here.

Close to transit, steps from everyday conveniences, DUO will reimagine the way Brampton lives. Along with exceptional amenities and suites made for real life, it’s a life friendly condominium. So, put everything aside, clear your schedule and book your appointment today.

PRICED FROM THE LOW $500’s

BOOK YOUR VIRTUAL APPOINTMENT

BY REGISTERING

duocondos.ca

PRESENTATION CENTRE 245 STEELES AVENUE WEST, BRAMPTON

Exclusive Listing Brokerage: Baker Real Estate Incorporated. Illustrations are artist’s impressions.

NOW SELLING

FEB. 26–MARCH 26, 2022

CONTENTS COVER STORY

26 XO2 CONDOS LIFETIME DEVELOPMENTS: WHERE THE FUTURE HAS ARRIVED FOR HEALTHY LIVING AND FAMILY-ORIENTED AMENTIES 6 condolife magazine | Feb. 26–March 26, 2022

32

36 40

DEPARTMENTS

COLUMNS

8

22

Editor’s Note Opportunity knocking

10

Contributors & masthead

14

Condo Life Online

16

In the Spotlight: GTA new home sales exceptionally strong in 2021 as inventory hits new low; more news on pages 18, 19 and 20

24 Inside The GTA 32

Neighbourhood Watch Brampton – where the future is now

58

Maps & Amenity Charts

65 Advertisers Index: Want more information? Just ask — and you could win a prize

66 Industry Report Research and preparation essential when buying pre-construction

Stat Chat Data points to consider

30 Legally Speaking Preparing to buy in uncertain times

31

NEW HOME COMMUNITIES

36 Lambton Towns Dunpar offering midrise living in the middle of the city

Real Insight Prices hit a new record in 2022

35

Home Realty

40 The Georgian Sophistication meets spaciousness at new Stafford project

Choose up-and-coming destinations for great value

38

Real Estate Pro 2021 sets the record for a successful 2022

42 DUO Condos National Homes’ masterpiece in architectural design and elevated finishes

39 Personal Finance Look beyond the rate when securing a mortgage

44 Western View How bad data has handcuffed our housing projections

45 The Marketing Edge Cities outside Toronto core becoming more popular homebuying destinations

INTERIORS

47 Cover 48 Decor 50 Big Style 53

Style File

nexthome.ca 7

EDITOR’S NOTE

OPPORTUNITY KNOCKING

WAYNE KARL EDITOR-IN-CHIEF Condo Life Magazine

EMAIL: wayne.karl@nexthome.ca TWITTER: @WayneKarl

+ get social 8

Oh, great. When forecasting anything, accurate data is kind of important, eh? (If this column was in digital format, you’d see a sarcasm emoji here.)

A new report conducted for the Building Industry and Land Development Association (BILD) by Smart Prosperity Institute shows that, if you can believe it, inaccurate and outdated Growth Plan forecasting has contributed to housing supply and affordability challenges in the Greater Toronto Area and Hamilton (GTAH) and surrounding communities.

Forecast for Failure: How a Broken Forecasting System is at the Root of the GTAH’s Housing Shortage and How It Can Be Fixed, highlights that over the last seven years, forecasts have underestimated population growth and overestimated housing completions. Think about that for a second. The two major data inputs for such forecasting have been dead wrong.

This means, BILD says, that municipalities have been planning for growth using inaccurate or outdated assumptions and, predictably, ending up with a shortage of needed infrastructure and a shortfall in housing to support new residents. The annual housing supply shortfalls have compounded, leaving the region with a structural supply deficit.

“Forecasts of population growth and housing completions are the foundation on which municipalities base their projections of future housing requirements,” says Dave Wilkes, BILD president and CEO. “The entire GTAH is facing unprecedented housing supply challenges, and achieving balance with the present demand will require roughly 30 per cent more new housing units per year,” adds Mike Collins-Williams, chief executive officer of the West End Home Builders’ Association. “In the absence of that, more people, and in particular young families looking for room to grow, will continue leaving more expensive cities to look further afield to find housing they can afford. The phenomenon of drive until you qualify is spreading the GTAH supply and affordability challenge across southern Ontario.”

Clearly, getting such forecasting right is critical. Dr. Mike Moffatt, senior director of policy and innovation for Smart Prosperity Institute and author of the report, calls it a “Herculean task.”

Our news coverage beginning on page 16 discusses some of the initiatives underway in the province to address such challenges.

And with both provincial and municipal elections coming up this year, you can bet candidates will make housing a high priority platform item, rightly so.

It’s an opportunity we can’t overlook.

Interact with us on social media: nexthome

condolife magazine | Feb. 26–March 26, 2022

The Dupont is a new 9-storey condominium community coming soon to Dupont & Ossington.

At the apex of the city’s most coveted converging neighbourhoods, The Dupont brings together hotel-inspired sophistication with industrial heritage charm, and a vibrant urban lifestyle.

Schedule Your Private Appointment

©2022 Tridel Corp. All rights reserved. Building and view not to scale. Illustrations are artist’s concept only. *Prices and specifications are subject to change without notice. E.&.O.E. 2022.

tridel.com

CONTRIBUTORS PERSONAL FINANCE | JESSE ABRAMS Jesse Abrams is Co-Founder at Homewise, a mortgage advisory and brokerage firm based in Toronto. thinkhomewise.com

CHIEF REVENUE OFFICER

Jacky Hill jacky.hill@nexthome.ca EXECUTIVE MEDIA CONSULTANT

Michael Rosset

EDITOR-IN-CHIEF – NATIONAL REAL ESTATE

Susan Legge susan.legge@nexthome.ca REAL ESTATE PRO | BARBARA LAWLOR Barbara Lawlor is President and CEO of Baker Real Estate Inc., and an in-demand columnist and speaker. A member of the Baker team since 1993, Barbara oversees the marketing and sale of condo developments in Canada and overseas. baker-re.com

EDITOR-IN-CHIEF – GREATER TORONTO AREA

Wayne Karl wayne.karl@nexthome.ca MANAGING EDITOR

Rise Levy rise.levy@nexthome.ca CONTRIBUTORS

DECOR | LINDA MAZUR Linda Mazur is an award-winning designer and Principal of Linda Mazur Design Group. With almost two decades of experience this in demand multi-disciplinary design firm is known for creating relaxed, stylish spaces and full-scale design builds throughout the GTA and Canada. lindamazurdesign.com @LindaMazurGroup

REAL INSIGHT | KEVIN CRIGGER Kevin Crigger, TRREB President and realtor, is a long-standing and active member at the Toronto Regional Real Estate Board. He has served all levels of the real estate industry, as well as local charities and educational institutions

Jesse Abrams, Mike Collins-Williams, Kevin Crigger, Kate Davidson, Michael Klassen, Barbara Lawlor, Linda Mazur, Nick Monteleone, Ben Myers, Lisa Rogers, Jayson Schwarz, Dave Wilkes SENIOR VICE-PRESIDENT, SALES, NEXTHOME

Hope McLarnon 416.708.7987, hope.mclarnon@nexthome.ca SENIOR MEDIA CONSULTANTS

Amanda Bell 416.830.2911, amanda.bell@nexthome.ca Natalie Chin 416.881.4288, natalie.chin@nexthome.ca VICE-PRESIDENT, MARKETING – GTA

Leanne Speers

SENIOR CLIENT RELATIONS SPECIALIST – GTA

Sonia Presotto

MANAGER CUSTOMER SALES/SERVICE

Marilyn Watling

SALES & MARKETING CO-ORDINATORS

STAT CHAT | BEN MYERS Ben Myers is President of Bullpen Consulting. Ben provides pricing recommendation, product mix, and valuation studies on new residential housing developments for builders, lenders and property owners. bullpenconsulting.ca

Gary Chilvers, Vi Nguyen

HOME SHOW MANAGER & NEWSPAPER CIRCULATION – GTA

Josh Rosset DISTRIBUTION

distributionteam@nexthome.ca ACCOUNTING INQUIRIES

accountingteam@nexthome.ca DIRECTOR OF PRINT MEDIA

BIG STYLE | LISA ROGERS Lisa Rogers is Executive Vice-President of Design for Dunpar Homes. Lisa has shared her style and design expertise on popular television programs such as Canadian Living TV, House & Home TV and The Shopping Channel. Lisa is also a regular guest expert on CityTV’s Cityline. dunparhomes.com.

Lauren Reid–Sachs

VICE-PRESIDENT, PRODUCTION – GTA

Lisa Kelly

PRODUCTION MANAGER – GTA

Yvonne Poon

GRAPHIC DESIGNER & ASSISTANT MANAGER

Alicesa Pullan

GRAPHIC DESIGNER & PRE-PRESS COORDINATOR

Hannah Yarkony LEGALLY SPEAKING | JAYSON SCHWARZ Jayson Schwarz LLM is a Toronto real estate lawyer and partner in the law firm Schwarz Law Partners LLP. He can be reached by visiting schwarzlaw.ca or by email at info@schwarzlaw.ca or phone at 416.486.2040.

GRAPHIC DESIGNERS

Johannah Lorenzo, Mike Terentiev

Published by

INDUSTRY REPORT | DAVE WILKES Dave Wilkes is President and CEO of the Building Industry and Land Development Association (BILD), the voice of the home building, land development and professional renovation industry in the GTA. For the latest industry news and new home data, follow BILD on Twitter at @bildgta or visit bildgta.ca

æ

Sign up to receive digital editions & newsletters to your inbox!

Official Media Partners:

r

10

condolife magazine | Feb. 26–March 26, 2022

nexthome.ca Advertising Call 1.866.532.2588 ext. 1 for rates and information. Fax: 1.888.861.5038 Circulation Highly targeted, free distribution network aimed at real estate buyers using street level boxes, racking and Toronto Star in-home delivery.

Canadian subscriptions 1 year = 13 issues – $70 (inc.

HST). Canada Post – Canadian Publications Mail Sales Product Agreement 40065416.

Copyright 2022 All rights reserved. All copyright and other intellectual property rights in the contents hereof are the property of NextHome, and not that of the individual client. The customer has purchased the right of reproduction in NextHome and does not have the right to reproduce the ad or photo in any other place or publication without the previous written consent of NextHome.

Terms Advertisers, Editorial content are not responsible for typographical errors, mistakes or misprints. All prices are correct as of press time.

Editorial Submissions from interested parties will be considered. Please submit to the editor at editorial@nexthome.ca.

R PL // YOU N E D ’S

AYTIME

e teractiv in an in d il w o ve ng y, impro aginatio curiosit kid’s im e r g u o ra y u t o r e L the to enc e with o esigned socializ m e space d th lp , and he dexterity unity. e comm th in n childre

CHILDR

EN

// YOU RKETTE

YARD R BACK

ll it your oor! Ca d r u o y ide nd – the just outs laygrou p d l n ia a c , o ly e e to take , or s Lush, liv dly plac an oasis n rb ie u fr n d a n rd, ha style. backya es a fres esco life it v fr l in a e e tt y th arke nd enjo Urban P tdoors a u o t a re in the g

PA URBAN

NOW AVAILABLE CONTACT US FOR PRIORITY ACCESS

T: 416.923.3035 E: xo2condos@bakersales.info

xo2condos.com

© 2022 Lifetime Developments and Pinedale Properties Ltd. All rights reserved. Specifications subject to change without notice.

E. & O.E. Illustration is artist’s concept. Brokers Protected. E. & O.E. Baker Real Estate Incorporated.

e t . a e l v e y l t to e your lifes nce to experie d n a t n me , add to environ activity s every e d k n a a t e t ith oic tha with ch dant t w osophy le abun busting e a phil t y n t ia s io c t fe e a r li c lo pp ble you’ll a ynamic ry day. n envia At XO2 our eve with a d offers a y t t r o a t a h t t e S c o d ien t level. ned con conven the nex lly desig d bring u n f a t h fe g li u ho our that a t ment y comple o t s ie amenit

CAPE

OR

ES // YOUR G N I N DI

zy up in asis - co o e the bar n re d life at art se o p o l, g ia e c o th taking st to Part s h breath ges, toa it n u w lo rs s ta u es luxurio under th co dine s e fr l a or tario.

Lake On views of

OUTDO

Catch up between issues at

nexthome.ca & enjoy these popular stories

NEW DEVELOPMENT

Highland Commons – new Altree project immersed in nature and steps from the University of Toronto Altree Developments makes its debut in Toronto’s east end with Highland Commons, two well-proportioned midrise buildings in Highland Creek.

OUTLOOK 2022

GTA real estate poised for another strong year Housing supply, the pandemic, the economy, interest rates... 2022 will present its challenges, but it’s poised to be another strong year for GTA real estate.

HOMEBUILDING

Province pledges to speed up approvals, build more homes with new initiative After years of warnings from builders and others in Ontario’s housing industry, the province has pledged to cut red tape and speed up approval processes.

INSIGHT

Women represent a long-term solution to industry labour shortages Women’s participation in the construction and skilled trades industries has been steadily increasing over the last few decades. However, female representation in maledominated professions such as trades, construction and other industries remains low.

ADVICE

2022... two elections, one focus... housing supply There will be no more important elections in our lifetime than the two coming up in 2022 – the provincial election in June, and municipally in November. Here’s why you should vote.

Visit

or check us out on 14

condolife magazine | Feb. 26–March 26, 2022

@condolifemag

nexthome.ca CondoLifeMagazine

@condolifemagazine

CONNECTED END EAST LIVING C O N D O S C O M I N G S O O N | R E G I S T E R N O W at T H E D A W E S . C O M

Exclusive Listing: Baker Real Estate Incorporated, Brokerage. Brokers Protected. Prices and specifications are subject to change without notice. Illustrations are artist’s concept. E. & O.E.

IN THE SPOTLIGHT

GTA NEW HOME SALES EXCEPTIONALLY STRONG IN 2021 AS INVENTORY HITS NEW LOW The GTA new home market saw extremely robust levels in 2021, the second highest on record after 2002, the Building Industry and Land Development Association (BILD) reports.

Overall, in 2021, there were 46,651 new homes sold in the GTA, according to Altus Group, BILD’s official source for new home market intelligence. This was 27 per cent above the 10-year average.

Sales of condominium units, including in low-, mediumand highrise buildings, stacked townhouses and loft units, were particularly strong in 2021. At 32,919 units sold, condominium apartment sales were 40 per cent above the 10year average and only 125 units short of 2017’s all-time record.

Single-family homes, including detached, linked, and semi-detached houses and townhouses (excluding stacked townhouses), accounted for 13,732 new home sales in 2021.

This was four per cent above the 10-year average.

The month of December contributed 2,739 new home sales to the annual total. With 2,170 condominium apartment units sold, it was the second highest December for condo sales after 2016.

“The record low inventory levels and record high benchmark pricing

we saw in December illustrate perfectly why housing supply and affordability will rank among the defining issues in this year’s provincial and municipal elections,” says Justin Sherwood, BILD’s senior vice-president of communications and stakeholder relations.

“Insufficient housing supply is driving the GTA’s housing affordability challenge while exacerbating inequality, slowing down economic growth and threatening our collective quality of life. Voters will demand meaningful platforms and policy ideas from candidates and parties.”

“New condominium apartment sales were impressive in December, pushing the total for 2021 to just shy of 2017’s record,” adds Edward Jegg, analytics team leader at Altus Analytics, Altus Group. “Singlefamily new home sales continued to

languish in the face of chronic low supply and soaring pricing.”

Benchmark pricing hit new records in December. The benchmark price for new condominium apartments in December was $1.16 million, up 13.5 per cent over the last 12 months, while new single-family homes soared 38.5 per cent to $1.8 million.

With few new projects opening in December, as is typical for the month, total new home remaining inventory dipped from the previous month to 8,922 units, the lowest level since Altus Group began recording in January 2000, and representing about 2.3 months of inventory based on average sales for the past 12 months. A balanced market would have nine to 12 months of inventory.

Remaining inventory includes units in preconstruction projects, in projects currently under construction, and in completed buildings.

DECEMBER NEW HOME SALES BY MUNICIPALITY Condominium units

Single-family homes

Total

Region

2021

2020

2019

2021

2020

2019

2021

2020

2019

Durham

157

19

64

203

406

118

360

425

182

Halton

377

164

61

107

216

49

484

380

110

Peel

330

109

185

43

91

115

373

200

301

Toronto

704

458

1,303

19

27

8

723

485

1,311

York

602

202

330

197

413

185

799

615

515

GTA

2,170

952

1,943

2,739

2,105

2,419

4,909

3,057

4,362

SOURCE: ALTUS GROUP

16 condolife magazine | Feb. 26–March 26, 2022

nexthome.ca | myhomepage.ca

HOMES, Condo Life + Active Life

Toronto’s Finest NEW HOME GUIDE

Fabulous LIVING IN THOROLD!

Canada’s trusted authority for the latest new home and condo developments, industry news and expert homebuying advice.

WEST COMMUNITY NEW PHASE COMING SOON! DISCOVER SINGLE FAMILY HOMES AND SPACIOUS TOWNS!

INSIDE:

condolife

WHERE MORTGAGE RATES ARE HEADED IN 2021

nexthome.ca | myhomepage.ca

Greater Toronto Area Dec. 5, 2020–Jan. 16, 2021

Greater Toronto’s COMPLETE CONDO GUIDE

The Rose Hill Condos New Capital North Communities condo in Vaughan launching soon nexthome.ca | myhomepage.ca

120520_CondoLife_GTACentral_Edit_49.indd 681 120520_CondoLife_GTACentral_Cover_49.indd

HOMEBUYER INTENTIONS STILL STRONG: SURVEY

DEC. 5, 2020–JAN. 16, 2021

Subscribe to receive our magazines at your front door!

Greater Toronto Area Dec. 19, 2020–Jan. 30, 2021

2020-11-27 2:30 PM

INSIDE:

HOMEBUYER INTENTIONS STILL STRONG: SURVEY

WHERE MORTGAGE RATES ARE HEADED IN 2021

120520_CondoLife_GTACentral_Edit_49.indd 1

2020-11-27 3:06 2:30 PM

Ontario Edition Nov. 7, 2020–Feb. 27, 2021

nexthome.ca | myhomepage.ca

travel & leisure | home & garden | technology & finance | beauty & wellness

THE BEST COLLECTION OF NEW 4 SEASON HOMES in the Georgian Bay area

Receive every edition of your favourite homebuyer guides To get the latest real estate news, deals and offers, sign up to our e-newsletters!

To get started visit: nexthome.ca/corporate/subscribe

SHERWOOD HOMES

THE RIGHT MORTGAGE AND A LOW RATE

110720_ActiveLife_Ontario_Cover_45.indd 1

EXCLUSIVE MAP GUIDES TO 300+ ONTARIO ADULT LIFESTYLE COMMUNITIES

2020-10-28 1:10 PM

IN THE SPOTLIGHT

CONDO SALES REACH AN ALL-TIME HIGH IN 2021 A record fourth quarter capped off a record year for condominium unit sales in 2021, according to the Toronto Regional Real Estate Board.

While condo listings were high from a historic perspective, it was not a record year on the supply side of the market. Condo buyers, in fact, experienced some of the tightest market conditions in 20 years. Strong competition led to an acceleration in price growth to a new record, as the average selling price rose 16.4 per cent to $710,087.

“The resurgence in the condo market was a key real estate story for 2021,” says TRREB President Kevin Crigger. “First-time buyers, who arguably remained on the sidelines longer than existing homebuyers during the earlier stages of the pandemic, re-entered the market with vigour last year. Condo demand will be robust in 2022 as well, with the expected increases in immigration and temporary migration into the GTA.”

“In the early days of the pandemic, we saw a spike in condominium apartment listings and a brief lull in condo price growth,” adds TRREB Chief Market Analyst Jason Mercer. “The situation reversed dramatically in 2021, with the number of available units dropping in the face of strong demand. The resulting doubledigit price growth will carry forward into 2022.”

CONDO MARKET SUMMARY, Q4 2021

52pick-up.com

Market

2021 Average price

2020 Average price

Halton

$695,342

$597,287

Peel

$609,781

$510,420

Toronto

$739,683

$644,499

York

$689,846

$573,118

Durham

$559,902

$437,557

Other

$626,530

$465,873

TOTAL

$710,087

$610,042 SOURCE: TRREB

18 condolife magazine | Feb. 26–March 26, 2022

In the spotlIght

Building induSTRY APPROVES OF HOUSING AFFORDABILITY TASK FORCE REPORT It was a long time coming and rife with potentially controversial challenges, but the report from the Housing Affordability Task force is being met with early approvals from the industry.

The report from the Housing Affordability Task Force highlights expert recommendations for additional measures to increase the supply of market housing to address the housing crisis. The Task Force is part of Ontario’s ongoing threepart consultation with industry, municipalities, and the public to help the government identify and implement real solutions to address the housing supply crisis.

“Everyone has a role to play in addressing the housing supply crisis,” says Steve Clark, minister of municipal affairs and housing.

“As our government consults with municipalities, the public, and industry leaders and experts, we are balancing these perspectives to develop practical, forwardthinking policies that unlock and fast-track all types of housing for all types of Ontarians.”

The report’s recommendations include five main areas to quickly increase the supply of market housing, to meet a goal of adding 1.5 million homes over the next 10 years: • Make changes to planning policies and zoning to allow for greater density and increase the variety of housing • Reduce and streamline urban design rules to lower costs of development

• Depoliticize the approvals process to address NIMBYism and cut red tape to speed up housing • Prevent abuse of the appeal process and address the backlog at the Ontario Land Tribunal by prioritizing cases that increase housing • Align efforts between all levels of government to incentivize more housing Additionally, the Task Force’s report makes other recommendations to increase housing supply over the long-term, including to digitize and modernize the approvals and planning process, grow the skilled labour workforce, and encourage new pathways to homeownership.

The Building Industry and Land Development Association (BILD) welcomes the recommendations.

“The Greater Toronto Area’s housing supply and affordability crisis is a generational challenge with broadranging social and economic impacts,” says Jason Sheldon, BILD’s chair and executive vicepresident, land development at Remington Group.

The Residential Construction Council of Ontario (RESCON) is even more direct in its comments on the recommendations, calling the “sweeping reforms” exactly the type of bold and decisive action needed to get shovels in the ground quicker and boost the number of homes being built in Ontario.

“The task force has come up with an ambitious blueprint for building

1.5 million new homes in the next decade by revolutionizing how municipalities approve housing projects,” says RESCON President Richard Lyall. “This is the progressive and out-of-the-box type thinking that we need to boost supply and address the soaring cost of housing in Ontario.

The Toronto Regional Real Estate Board (TRREB) also gave the report the thumbs up. The GTA remains the primary destination for new immigrants, and is at the centre of the Canadian economy, TRREB President Kevin Crigger says. “For far too long, governments have focused on short-term band-aid policies to artificially suppress demand.

Current market activity highlights decisively that these policies do not work, and unless governments work together to cut red tape, streamline the approval processes, and incentivize mid-density housing, ongoing housing affordability challenges will escalate.”

nexthome.ca 19

IN THE SPOTLIGHT

JANUARY PRICES SPIKE ON WAY TO ANOTHER NEW RECORD FOR 2022 The market outlook for 2022 is calling for strong home sales in the GTA, with the average selling price expected to hit yet another new record. The latest polling conducted for the Toronto Regional Real Estate Board (TRREB)

by Ipsos shows detached homes are on the top of the list for buyers, while the percentage of first-time homebuyers will likely drop this year.

Meanwhile, January began the same way December ended, with home sales down.

In its 2022 Market Outlook and 2021 Year in Review report, TRREB forecasts sales and average selling price, highlights the latest consumer polling results on homebuying and selling intentions, and joint research with the Toronto Region Board of Trade and Maru Public Opinion on post-pandemic back-to-work and employment scenarios.

2022 MARKET OUTLOOK

The average selling price for all home types in the GTA is set to climb to $1.22 million, a 12-per-cent increase over last year, TRREB says.

In addition to labour market conditions and population growth, the prospect of multiple interest rate hikes by the Bank of Canada (next rate announcement is March 2) this year will be an important factor impacting housing markets in 2022. While BoC tightening cycles have historically led to fewer transactions, it is important

to remember that homebuyers have recently been held to a much higher qualification standard under the OSFI stress test. This could mitigate the impact of higher contract mortgage rates moving forward.

“Immigration into Canada and the GTA is expected to be at or near record levels in 2022,” says TRREB President Kevin Crigger. “All of these people will require a place to live. On top of this, job creation in average to above-average income sectors is expected to remain strong, further buoying consumer confidence to make a large-ticket purchase of a home. Unfortunately, the supply of listings will remain constrained, sustaining strong competition between buyers and double-digit growth in selling prices.”

“While home sales will remain strong historically, there are a few key factors that will see transactions slightly off last year’s record pace,” adds TRREB Chief Market Analyst Jason Mercer. “First, higher borrowing costs in 2022 will see some households on the margin of affordability temporarily put their purchase on hold. Second, after above-average per capita home sales in 2021, there will be some give-back in 2022, simply because the pool of ready buyers will be smaller. Finally, the perpetual lack of inventory in the GTA will preclude some willing buyers from getting a deal done. Simply put, you can’t buy what’s not available for sale.”

JANUARY HOME SALES

The continuation of tight market conditions resulted in a 33.3-per-cent annual increase in the MLS Home Price Index Composite benchmark.

Similarly, the average selling price was up by 28.6 per cent year-over-year to $1.24 million.

“It is clear that 2022 is starting off the way 2021 ended in terms of the relationship between demand and supply in the GTA housing market,” says TRREB CEO John DiMichele.

“We have provincial and municipal elections this year in Ontario.

These are the levels of government whose policies impact real estate development the most. With this in mind, it will be very important for voters to understand exactly what parties and individuals vying for public office propose to do to alleviate the lack of inventory and housing choice in the GTA in the years to come.”

GTA RESALE AVERAGE PRICES, JANUARY 2022 (YR/YR % CHANGE)

The One Stop Shop for Builder Storytelling mcouatpartnership.com

416

905

Total

Detached

$1.88M (19.2)

$1.70M (30.4)

$1.74M (28.3)

Semi-detached

$1.47M (22.1)

$1.23M (37.3)

$1.31M (31.5)

Townhome

$1.08M (32.6)

$1.08M (35.5)

$1.08M (34.8)

$760,643 (21.7)

$720,532 (31.6)

$748,566 (24.5)

Condo

SOURCE: TRREB

20 condolife magazine | Feb. 26–March 26, 2022

FOCALPOINT

e-NEWS!

monthly podcast series’ – featuring your favourite in-the-know lifestyle experts

2022 CONTESTS

Luxury Weekend Getaway Contest

You and a friend could be our guests for an exceptional weekend stay at Toronto’s landmark hotel Fairmont Royal York for two luxurious nights where you’ll enjoy premium accommodation in a Signature Suite with complimentary dining!

subscribe online today – new podcasts every month + fabulous free contests!

studiotouronline.com

ADVICE | stAt ChAt

DATA POINTS TO CONSIDER FOR BUYING A HOME DURING A HOUSING SHORTAGE

BEN myERS When driving into downtown Toronto, you can’t help but notice the massive number of new condominiums recently built along the Gardiner Expressway and up Yonge Street. It’s hard to believe that there is a housing shortage with the high number of new condo projects going up.

However, the downtown Toronto new condo market is only part of the overall southwestern Ontario housing ecosystem. We have to consider the number of new single-family homes, townhouses and rental apartments being built, the number of houses being demolished, and the volume of people who want to move to the Toronto Census Metropolitan Area. Other major factors that aren’t discussed regularly enough are the aging Baby Boomer population staying in their homes, and the spike in the number of students coming into the region at our postsecondary institutions.

Local builders and developers completed just 36,723 new units in 2021, a major improvement over the last two full years, but below 2018, 2017 and 2015. The other problem is that people like single-family housing, and only 5,631 single-detached homes were built last year, less than half of 2017’s total, and 72 per cent below the 2002 total of more than 20,200 completions.

There are a lot of arm-chair analysts out there that will point 22 condolife magazine | Feb. 26–March 26, 2022

to the big decline in downtown Toronto rental rates in 2020 (a 15- to 20-per-cent decline, per data from rentals.ca), and say: See, I told you.

Too much supply. They needed a pandemic to “prove” their oversupply theory. Rents have since bounced back, rising 13 per cent annually as of January 2022 in downtown Toronto.

Rents have increased almost every year for 30 years, including during the 2008-09 financial crisis, yet one year of declines and we’ve decided we have enough housing? Come on, there are people sleeping in tents across the city. There is still a big problem.

Politicians will point to how many cranes we have in the sky as a sign that we’re building adequately, and others will say we’re building lots of units. Neither cranes nor units is the proper metric to look at.

Analyzing units as a measure of supply over time presents a challenge, as the composition of an average unit has changed drastically over the past 15 years. It’s hard to compare things over time when they’re changing. In the early 2000s, the average home built in the GTA was a 2,500-sq.-ft. single-family home in the suburbs with three or four bedrooms. In 2021, the average home built is a 750-sq.-ft. condominium unit with two small bedrooms. So, we’re building a similar number of homes, but we’re delivering considerably less square footage, and way fewer bedrooms. This is contributing to our housing crisis.

In previous years, the talk was about foreign investors driving up the new home market and new home

prices. The year the new non-resident owner’s tax (2017) was implemented was the highest year for new condo price growth since the 1980s, and 2018 was not far behind it. Foreign buyers are not the problem.

The only way to prevent the housing crisis in our region from getting much worse is to continue to build at a record pace. It doesn’t mean we need 50-storey towers as far as the eye can see. The planning process and the fees associated with small scale developments have been a killer for small players trying to add gentle density and more apartments to existing neighbourhoods. Four- to six-storey wood-frame apartments in low-density areas can allow for people to age in place, and young professionals to live within walking distance of their parent’s home, and stay in the places they grew up, should they desire to do so. Luckily, the Housing Affordability Task Force assembled recently is recommending that changes be made to facilitate this type of development.

The best solution for ensuring that it doesn’t get a lot worse, is more housing supply.

Ben Myers is President of Bullpen Consulting, a boutique residential real estate advisory firm specializing in condominium and rental apartment market studies, forecasts and valuations for developers, lenders and land owners. bullpenconsulting.ca Twitter@benmyers29

+mORE CONTENT ONlINE nexthome.ca

1st Place Compact Kitchen Martin DeSousa

1st Place Small Kitchen Linnea Lions

1st Place Medium Kitchen Beverly Binns

1st Place Large Kitchen Glen Peloso & Elizabeth Smith

Turn your DREAM into REALITY

Why Hire an NKBA Professional: • Skills to Design and Plan Safe and Functional Kitchens and Baths • Understand the Industry Environment, Future Trends & Consumer Lifestyles

• Operate and adhere to a strict code of ethics under the guidelines of the NKBA • Utilize Industry Information for Designing & Planning • Research Building Codes and Current Industry Practices

nkba.org/chapters/ontario-canada/

The National Kitchen & Bath Association (NKBA) is a non-profit trade association that promotes the professionalism of the kitchen and bath industry. Established in 1963 as a network of kitchen dealers, it has grown into the premier association of distributors, retailers, remodelers, manufacturers, fabricators, installers, designers and other professionals. The NKBA’s certification program emphasizes continuing education and career development and includes designers and professionals in all segments of the kitchen and bath industry. The NKBA has become a valuable resource for both professionals and consumers.

YOU COULD WIN A

BLACK+DECKER™ POWERSERIES™ EXTREME™ PET CORDLESS STICK VACUUM CLEANER

Enter our Clean Like a Pro Contest!

Retail Value

249.99

$

Enter Online • Go to renoanddecor.com/contests • Select this contest within the listing and click Enter to Win. For full contest details & rules visit the link above.

www.blackanddecker.ca |

@blackanddeckerca TM

#InsidetheGTA GTA

THE PETER GILGAN MISSISSAUGA HOSPITAL

Mattamy Homes founder makes largest donation to a hospital in Canadian history Trillium Health Partners (THP) and Trillium Health Partners Foundation (THPF) have announced an historic $105-million donation from renowned philanthropist Peter Gilgan and The Peter Gilgan Foundation. Gilgan is chairman and CEO of Mattamy Asset Management and founder of Mattamy Homes. He has made several large donations to Canadian hospitals, including an unprecedented $100-million contribution to The Hospital for Sick Children (SickKids) in 2019, and $10 million to St. Joseph’s Hospital in 2017.

As the biggest donation to a hospital in Canadian history, the money will support THP in building the largest and most advanced hospital in Canada, to be named The Peter Gilgan Mississauga Hospital. The funds will also help expand and redevelop Queensway Health Centre, which will be named The Gilgan Family Queensway Health Centre.

The new Mississauga hospital will replace the existing 62-year-old facility, and a new patient tower at Queensway Health Centre will be home to needed complex care and rehabilitation services at THP. These projects represent the largest capital build in Canada’s history and will add more than 600 beds across the organization, for a total of almost 2,000, to accommodate the significant growth in this community, and making THP the largest hospital in Canada. petergilganfoundation.org

Minto Communities GTA announces two new acquisitions Minto Communities GTA announced the acquisition of two new development sites, including plans for a multi-tower, 1,300-unit highrise development steps from Mimico GO Station in Etobicoke, and a 27-acre lowrise community in Durham Region’s Brooklin neighbourhood.

These new acquisitions are the latest for Minto Communities GTA, which has been actively seeking new development sites. The company is also closing on a downtown highrise site in Toronto’s Parkdale community, and recently completed another in Clarington’s Courtice community in Durham Region.

These most recent site acquisitions are the latest of nine completed over the last four years, representing more than 4,000 units of development potential in prime urban and suburban locations. minto.com 24

condolife magazine | Feb. 26–March 26, 2022

Rendering: Trillium Health Partners

by SUSAN LEGGE

Toronto’s ‘Rail Deck Reset’ holds public open house Dream Unlimited and Great Gulf Group selected to develop Quayside Waterfront Toronto has announced it will begin negotiations with Dream Unlimited Corp. (Dream) and Great Gulf Group, known as Quayside Impact Ltd. Partnership, for developing the Quayside site in downtown Toronto.

The announcement comes after a competitive process, with four teams vying for the opportunity to transform the 12-acre (4.9 hectare) site into a community for residents and visitors to live, work and play.

The image shows the full view of proposed development’s building heights and densities, and are conceptual and subject to City of Toronto approvals, as well as review by the Design Review Panel and public consultation. Among the highlights of the winning submission from Dream and Great Gulf were proposals to create: • More than 800 affordable housing units, more than doubling the affordable housing Waterfront

Toronto has brought to the waterfront, with many delivered in earliest stages to address an urgent need.

• New public spaces, including a two-acre forested greenspace, plus a significant urban farm atop one of Canada’s largest residential mass timber buildings.

• A landmark cultural destination and multi-use arts venue that brings together space for the performing arts, Indigenouscentred cultural celebrations and flexible education spaces.

• Exemplary low-carbon development and innovations, making Quayside the first allelectric, zero-carbon community at this scale.

• Visionary world-class architecture that will raise the bar on design across the entire neighbourhood and create a visually striking focal point on Toronto’s waterfront. waterfrontoronto.ca

To push the reset button on discussions about a new mixed-use, open space district above the rail corridor between Bathurst Street and Blue Jays Way, the team behind the project recently held a public meeting on the next phase of Toronto’s Rail Deck Corridor.

An important first step with what will be ongoing community engagement throughout 2022, the open house provided status updates for the project, introduced new project team members, and clarified next steps, including opportunities for public feedback.

Discussions on the future of this vital corridor have taken place over the last year between the City and the project team, including SvN Architects + Planners, Sweeny&Co, and McMillan Associates Architects, the original design architect of Rail Deck Park. The ongoing community engagement program for this project is titled “Rail Deck Reset,” to reflect how the project team, the City of Toronto, and the public together will explore the full potential of Toronto’s next district. raildeckreset.com

Premier renames new transit line after legendary former Mississauga mayor Hazel McCallion On Valentine’s Day, Premier Doug Ford and Minister of Transportation Caroline Mulroney, officially renamed the Hurontario LRT after the former mayor of Mississauga.

The Hazel McCallion Line will be a gamechanger for the growing areas of Brampton and Mississauga.

Once the 18-km LRT line is completed, it will link GO Transit’s Milton and Lakeshore West lines, the Mississauga Transitway, Brampton Transit, Züm and MiWay. McCallion was mayor from 1978 to 2014. She celebrated her 101st birthday on the same day the line was renamed. metrolinx.com nexthome.ca 25

Cover Story

XO2 CONDOS WHERE THE FUTURE HAS ARRIVED FOR HEALTHY LIVING & FAMILY-ORIENTED AMENITIES The last census revealed that more than 1.9 million, or slightly more than two-thirds of Canadians were living in condos. This 2016 data reveals that the ratio of Canadians, living in condominiums increased by 1.2 per cent from the last census five years prior. As we await the results of the 2021 census, we can only speculate that we’ll yet again see another rise in the percentage of Canadians who are living in condos.

26 condolife magazine | Feb. 26–March 26, 2022

So, what does this mean for the future of housing, especially in the country’s largest city of Toronto?

Further, what does that indicate about our housing market, and what does that mean for the future of living?

Lifetime Developments has been strategizing around these very questions, especially over the last few years, as a result of the pandemic’s impacts on the Canadian housing market. Toronto’s first

condo launch for 2022 was XO2 Condos by Lifetime and project partners Pinedale Properties, located at the corner of King and Dufferin – the sister building to the firms’ XO Condos launched in 2019. The team developed the amenity programming for XO2 through a new lens that many are calling the future of family living in the city.

Is Toronto’s housing market poised to become the next New

York? Data from 2019 revealed just a mere 32 per cent of New York City’s residents were owners, with 24 per cent of New Yorkers living in apartments and/or condos. As young couples and families face increasing challenges to enter the housing market, many are calling condo living the next, natural progression for family living in the city. Lifetime, in many ways, was ahead of the curve, noticing this trend and catering its amenity programming towards the next big demographic entering the housing market – millennials.

“We’re very proud of the amenity programming at XO2, especially the ways in which we’ve catered to two very large, impactful trends we’ve noticed throughout the pandemic,” says Lifetime Principal Brian Brown.

“More and more families, or young couples planning to grow their family in the near future, aren’t ruling out condo living, and we as developers have a responsibility to deliver projects that cater to our demographic of buyers and renters.

At XO2, we’ve designed spaces like a children’s den, complete with a creative centre and an outdoor playground, as well as a rooftop bocce ball court and urban parkette.”

XO2, once complete in 2024, will feature 410 suites spread across 19 storeys located at 1182 King St. W. Committed to building interconnected communities in thriving neighbourhoods, Lifetime Developments once again has brought together best-in-class industry partners for XO2 Condos, including Turner Fleischer Architects, interior designers Tomas Pearce, and landscape architects Strybos Barron King.

XO2 boasts more than 18,000 sq. ft. of both indoor and outdoor amenity space, including a 3,50-sq.ft. state-of-the-art fitness studio designed and outfitted in partnership with connected fitness experts, Freemotion Fitness, a KO-XO Boxing Studio, a residents lounge complete with chef’s kitchen, dining area, private seating alcoves and a pool table, outdoor dining and lounge area complete with fireplaces and

nexthome.ca 27

barbecue stations, rooftop bocce ball court and urban parkette, the Think Tank – Lifetime’s co-working facility complete with high-speed WIFI, private workstations, a private meeting room and communal-style seating, The Game Zone – retro arcade games, ping pong table and TV Lounge, a dedicated golf simulation room located off of the games room, and The Children’s Den facility.

The second key aspect Brown refers to when reimagining Lifetime’s amenity program is what he describes as “the increased emphasis on what healthy living really means.” He shares, “I think we can all agree on the fact that this pandemic has surfaced a collective, shared understanding that our health really is everything.

Amenity programming goes beyond ensuring there’s a lounge and a fitness room in our buildings – every building offers this, so we work to ensure we’re offering best-in-class facilities and features that people will benefit from and actually want to use.”

Lifetime Developments is the sole developer in the city to form two strategic partnerships last year with both Freemotion Fitness and Clear Inc. to further reinforce its focus on healthy buildings. XO2 will be the second Lifetime project to benefit from these partnerships with the 3,500-sq.-ft. Freemotion Fitness Lab. “Our partnership with Freemotion Fitness really elevates our fitness facilities and allows us to offer superior cardio and strength training equipment,” says Brown.

“Freemotion’s iFIT technology has had a major impact on this evolving industry and we are proud to be

aligned with a leader in this field.” iFit is a content-driven interactive program that uses auto-adjusting technology to deliver an immersive and interactive experience including changes to incline, decline, speed and resistance, making for an incredibly unique workout experience.

XO2 Condos will also be the second Lifetime development to incorporate air and water filtration systems in partnership with Clear Inc. Clear’s trail-blazing air filtration system recently received regulatory

approval from The Israeli Ministry of Health, passing initial testing at its facilities in California and achieving 99.99 per cent effectiveness in eliminating viruses in enclosed spaces.

“Our partners put it best – healthy indoor air and water is a right, not a privilege. We want to elevate the meaning of healthy living starting with the basics, and we know this is the type of feature that purchasers and investors are looking for as we continue to feel our way through this new era of living,” says Brown.

XO2 Condos will offer studio, one-, two- and three-bedroom units, in addition to a small collection of twostorey Live/Work townhomes. Adding to the vibrancy along King Street, XO2 will also feature more than 15,000 sq. ft. of new retail and commercial space in addition to commercial parking.

Limited inventory is still available at XO2 Condos.

For further information visit xo2condos.com.

HOUSEWARMING CONTEST! YOU COULD WIN A

100

$

GIFT CARD!

Did our homebuyer guides help you find home?

If your new home or condo was purchased within the past 12 months, tell us about your experience and you could WIN!

Ontario Edition Nov. 7, 2020–Feb. 27, 2021

nexthome.ca | myhomepage.ca

travel & leisure | home & garden | technology & finance | beauty & wellness

THE BEST COLLECTION OF NEW 4 SEASON HOMES condolife

in the Georgian Bay area

nexthome.ca | myhomepage.ca

Greater Toronto Area Dec. 5, 2020–Jan. 16, 2021

Greater Toronto’s COMPLETE CONDO GUIDE

nexthome.ca | myhomepage.ca

THE RIGHT MORTGAGE AND A LOW RATE

DEC. 5, 2020–JAN. 16, 2021

SHERWOOD HOMES

Greater Toronto Area Dec. 19, 2020–Jan. 30, 2021

EXCLUSIVE MAP GUIDES TO 300+ ONTARIO ADULT LIFESTYLE COMMUNITIES

Toronto’s Finest NEW HOME GUIDE 110720_ActiveLife_Ontario_Cover_45.indd 1

2020-10-28 1:10 PM

Fabulous LIVING IN THOROLD! The Rose Hill Condos

New Capital North Communities condo in Vaughan launching soon

nexthome.ca | myhomepage.ca

HOW TO ENTER:

120520_CondoLife_GTACentral_Edit_49.indd 681 120520_CondoLife_GTACentral_Cover_49.indd

2020-11-27 2:30 PM

HOMEBUYER INTENTIONS STILL STRONG: SURVEY

WEST COMMUNITY NEW PHASE COMING SOON! DISCOVER SINGLE FAMILY HOMES AND SPACIOUS TOWNS!

INSIDE:

Scan the QR or visit nexthome.ca/corporate/contests for full contest details & rules

INSIDE: 120520_CondoLife_GTACentral_Edit_49.indd 1

HOMEBUYER INTENTIONS STILL STRONG: SURVEY

WHERE MORTGAGE RATES ARE HEADED IN 2021

WHERE MORTGAGE RATES ARE HEADED IN 2021

2020-11-27 3:06 2:30 PM

ADVICE | LEGALLY SPEAKING

PREPARING TO BUY IN UNCERTAIN TIMES

JAYSON SCHWARZ, LLM

Home prices continue to escalate and interest rates are expected to rise.

What does this mean for you, as you consider buying a new home?

Real estate is the most important investment that most people will make in their life. The single biggest rule in any real estate purchase is this: Do not go into a real estate deal thinking you can pull off a quick flip.

If you can hold for the long term, you will rarely go wrong.

In these most interesting times, the biggest risk is to the investor group.

Today’s prices require significant cash invested to make that scenario work, especially if mortgage rates go up. My advice, be very careful.

If you are buying a home as your principal residence, it’s always the right decision if you can carry it, even if rates rise. The performance of the GTA market over the last several years indicates that if you wait, it’s likely going to cost you more; a lot more.

Homeownership as a principal residence satisfies many needs. The best way to protect yourself in a rising interest rate environment is to put down a large down payment, as this hedges against rate increases. If you are not able to do that, but have good cash flow, you may still be fine, and in both cases your goal should be to hold for the long term. This will likely yield price growth, despite the ups and downs, and in the end it will prove to be the best investment you ever made. After all, where else can you “enjoy” your money every day?

30 condolife magazine | Feb. 26–March 26, 2022

When you walk through the front door, you know this is your home – a place for you, your family and your pets. In addition your financial gain is, so far, tax free.

The law of supply and demand dictates price. As immigration continues to increase and housing inventory remains low prices will ordinarily continue to rise, or at the very least remain stable.

Can a price adjustment happen?

The one scenario to be aware of is a significant increase in interest rates. Yes, rates may climb – some economists predict as many as six small increases over the next two years – and inflation has risen.

COVID and supply shortages have had an impact around the world, and the cost of living has risen everywhere. If the untangling of the supply chain doesn’t fix the problem, and the thousands of people affected by the pandemic don’t return to work, the cost of living will continue to rise. However, many experts believe that once the supply chain returns to normal, inflation will settle at the acceptable level of two to three per cent per year.

Governments, though, don’t always act rationally when people cannot afford to buy groceries, and they believe prices must be brought under control. This inflation is different, because it’s brought on by shortages, not wage increases. If the Canadian and U.S. governments overreact to inflation and raise interest rates too much or too quickly, the economy will suffer and the housing market may be detrimentally affected. Let’s hope rational thinking prevails, and rate increases are slow, measured and effective.

“

Once you buy, don’t even think about your home’s value; just enjoy it and pay off as much of your mortgage as you can.

”

These issues can be complicated, but for you as a prospective homebuyer, your focus is more narrow: Save as large a down payment as possible, consider taking the longest mortgage you can with the shortest amortization you can afford, lock in your payments, and plan for contingencies. Remember, every blended payment reduces your outstanding principal, and this will help you with payments even if there has been a rate increase, when it’s time to renew.

Once you buy, don’t even think about your home’s value; just enjoy it and pay off as much of your mortgage as you can. The value will always be there. Face the future with confidence, knowing you made a wise homebuying – and investment – decision.

Jayson Schwarz LL.M. is a Toronto real estate lawyer and partner in the law firm Schwarz Law Partners LLP. Visit online at schwarzlaw.ca or email info@schwarzlaw.ca with your questions, concerns, critiques and quandaries.

+MORE CONTENT ONLINE nexthome.ca

ADVICE | REAL INSIGHT

GTA HOME SALES, PRICES FORECAST TO HIT NEW RECORDS IN 2022

KEvIN CRIGGER

Population growth in the GTA is climbing this year, sustaining strong demand for ownership and rental housing. As forecasted in TRREB’s Market Outlook & Year in Review report, home sales are expected to reach 110,000 with a record average selling price of $1.22 million in 2022.

This year’s report The PostPandemic Future: Communities, Housing & Employment, focuses on housing, jobs and infrastructure.

We turned to prospective buyers and sellers to find out what their intentions are in the months ahead with new Ipsos consumer polling. The results point to a slight dip in overall buying intentions, including first-time buyers. And fewer sellers are willing to list their homes. All in all, those who are looking to purchase a home will continue to face a lack of listing inventory.

TRREB’s joint research with the Toronto Region Board of Trade and Maru Public Opinion brings together insights from both business executives and workers on what the new normal may look like and how real estate needs, employment and work patterns may shift in response.

It’s no question that the pandemic has brought on permanent changes to the way people will work in the future.

The research findings show there is a need for a hybrid or flexible postCOVID working arrangements and

downtown core offices may not need to accommodate as many people at the same time as before.

Key drivers and trends in the commercial sectors experienced varying impacts from the pandemic.

The strongest activity was in industrial spaces and land sites across the GTA. Although the office sector showed some signs of a rebound last year, availability rates still remain high.

Competition in the rental market is set to grow from increased immigration and continued job creation. Demand for new homes will remain strong, similar to the resale market. Last year, pre-construction

transactions for new condominium apartments soared.

Visit trreb.ca to connect with a TRREB member realtor and search listings in real-time on any device.

Kevin Crigger, TRREB President and realtor, is a long-standing and active member at the Toronto Regional Real Estate Board. He has served all levels of the real estate industry, as well as local charities and educational institutions.

+MORE CONTENT ONlINE nexthome.ca

nexthome.ca 31

NEIGHBOURHOOD WATCH

BRAMPTON WHERE THE FUTURE IS NOW

by WaynE KaRl It’s one thing for a neighbourhood to be in transition, quite another for an entire city. But that’s precisely what’s happening in Brampton, where a concerted effort to bring the municipality into the future now, is yielding visible results.

In a city of about 600,000 – the third largest in the GTA and the ninth largest in Canada – Brampton has been booming for years. Consider, for example, that the current population is almost double what it was not even 20 years ago.

32 condolife magazine | Feb. 26–March 26, 2022

ECONOMIC GROWTH

What’s attracting newcomers to Brampton in such numbers? In short – economic growth. Indeed, with major companies such as Loblaw Companies Ltd., Rogers Communications, Brita and Clorox having headquarters in the city, employment opportunities have been plentiful. Formerly with a focus on manufacturing, Brampton’s economy in recent years has diversified to include sectors such as communications technologies, life

sciences and business services.

COVID challenges notwithstanding, Brampton focused on making livability and prosperity a priority in 2021, as the City allocated $8.4M for a Council-approved Affordable Housing Strategy, invested more than $16 million in streetscaping work as part of the new Integrated Downtown Plan, and launched BHive Brampton for international entrepreneurs in Brampton’s Innovation District, with 14 start-ups accepted.

In addition, it is facilitating Rogers Communications’ relocation through a proposed new development that would move 3,000 employees into a 200,000-sq.-ft. space in the downtown. The new campus would consist of mixed office and retail space, with room for additional offices to be added in phases. The project will help spur a vibrant transit-oriented community and situate the new Rogers Brampton office at the centre of Canada’s Innovation Corridor.

Brampton is also investing in education, having recently collaborated with Ryerson University for the Ryerson University-led Innovation Hub and Cybersecure Catalyst in downtown Brampton.

This includes the Chang School of Continuing education expanding its cybersecurity courses; launching the Brampton Incubation/Innovation Hub; and the Cybersecure Catalyst, a new national centre for innovation and collaboration in cybersecurity.

Managing such growth requires planning, including the City’s Vision 2040, a long-term vision to reinvent Brampton. The plan includes such key transformations as: Complete living (including model new neighbourhoods); everything connected (transit network, new core loop, walking and cycling networks); beauty brought back (streets for people, trees everywhere, designed communities, handsome buildings); and nature brought back (new eco-park and sustainability built into everything).

Such developments are part of what has earned Brampton recognition from Forbes as one of Canada’s Best Employers 2022, ranking 98th out of 300.

HIGHRISE DEVELOPMENT

While condominiums might not naturally spring to mind when thinking of Brampton, that is changing.

Median condo prices in the city, for example, shot up 26.5 per cent year-over-year for the fourth quarter of 2021, to $559,900 from $442,600 in 2020, according to Royal LePage.

This is among the strongest condo price gains in the entire province for the period.

As development of more types of housing spreads out of the Toronto core and into surrounding 905 areas – and buyers follow – Brampton is poised to take advantage.

These are among the reasons National Homes, traditionally a lowrise builder, committed to its first condo project in the city.

“In partnership with Brixen Developments, DUO Condos coming to Brampton in early 2022 adds high density to National’s repertoire, while working to meet rising real estate demands,” Deena Pantalone, managing partner of National Homes, recently told Condo Life.

It’s not all strictly business in Brampton, however. Proximity to nature also helps deliver quality of life in the city. There’s Gage Park is Brampton’s oldest municipal

+ LOCATION, LOCATION, LOCATION Population 593,638 42 kms from Toronto, 20 kms to Mississauga KEY LANDMARKS Gage Park Heart Lake Conservation Area Chinguacousy Park Bramalea City Centre Shoppers World SELECT CONDO DEVELOPMENTS Bristol Place Condos

By Solmar solmar.ca DUO Condos

By National Homes nationalhomes.com Shoppers World Condos

By RioCan Living riocanliving.com Stella Condos 2 By i2 Developments i2developmentsinc.com

park, opened in 1903; Heart Lake Conservation Area, occupying 169 hectares in the Etobicoke Creek watershed; and Chinguacousy Park, a 40-hectare park in the Bramalea section of town.

nexthome.ca 33

SPONSORED CONTENT

REAL ESTATE’S NEW PURCHASING TOOL BLACKLINE STREAMLINES HOMEBUYING PROCESS FOR NEW HOME AND CONDO BUYERS

TIM NG

Every person and every business has had to redefine how they work and operate due to the pandemic. Due to limited direct contact, we have had to revise and reinvent all we have come to know. And, out of necessity, extraordinary new ways of doing things were born.

As the founder of ADHOC STUDIO, we’ve taken on a new initiative called Blackline. This platform completely streamlines the condo buying process. Blackline is your realtor’s best tool when it comes to firsthand information, and the most up-to-date data as it relates to new condominium developments.

BE THE FIRST TO KNOW

When buying a condominium, 80 per cent of purchasers use a

realtor. Unlike resale properties, a high percentage of condo units are sold before construction begins.

Therefore, when looking at plans and specifications, it can be difficult to imagine the final outcome.

On the Blackline platform, your realtor brings the sales centre experience to you. It assists them with the initial presentation and provides them with all the pertinent information about the project, as well as what suites are available.

You won’t have to conjure up any “what-ifs,” as all will be revealed with 3D building models, virtual tours, renderings, pricing and more. Smart options and advanced filters will show you the closest schools, shopping and amenities. And, floorplans can be viewed side-by-side for easy comparison.

Blackline will also do away with lineups in high-demand areas. This digital platform will introduce new buying opportunities and investment potential to interested parties, so that new condo buyers can make an

10 QUESTIONS TO ASK YOUR REALTOR BEFORE BUYING A CONDO

1.

2.

3.

4.

5.

6.

7.

How reputable is the developer?

What other construction projects are planned for this area?

What are the monthly condo fees and what are they used for?

How do the condo prices and monthly fees compare to nearby properties?

What are the rules as it relates to pets and planting flowers and balcony use?

What is the reservation process if I’m interested in purchasing?

Will you be able to handle the final offer and signatures online through Blackline?

8. What is the deposit structure and down payment?

9. How long will this project take to get built?

10. Does this project have zoning and city planning approvals?

34 condolife magazine | Feb. 26–March 26, 2022

“

On the Blackline platform, your realtor brings the sales centre experience to you. It assists them with the initial presentation and provides them with all the pertinent information about the project, as well as what suites are available.

”

educated decision without having to feel that they are under pressure while looking at plans in a sales centre.

By using Blackline, all communication is current, and the final transaction is handled in an expeditious manner to satisfy all of the concerns of a new condominium buyer.

Tim Ng is the Principal and Founder of ADHOC STUDIO and BLACKLINE, an industry-leading digital studio that exists at the intersection of real estate, art, and technology. To learn more about ADHOC’s award-winning renderings and industryleading sales platform, BLACKLINE, visit adhocstudio.ca and blacklineapp.com

+MORE ADVICE ONLINE nexthome.ca/news/advice

ADVICE | HomE REAlty

CHOOSE UP-AND-COMING DESTINATIONS IN SOUTHERN ONTARIO FOR

GREAT VALUE

DEbbIE COSIC Savvy new home and condominium buyers know that purchasing in an up-and-coming area is a wise move.

Once local amenities are completed in an area, prices rise.

One big factor in this equation involves transportation options. With the proposed Hwy. 404 extension, the expansion of the Ontario Line, and the Greater Golden Horseshoe Transportation Plan, locations that used to be considered too far from Toronto to be feasible for living are now well within the range of consideration. In that light, consider how well buyers who chose locations close to subway and other public transit lines have done financially.

You will find several up-andcoming locations in southern Ontario. One example is Pickering (pickering.ca). Part of the GTA, this city has been growing and booming.

It is the western-most municipality in the region and is adjacent to Scarborough. With Hwy. 401 bisecting the city and Durham Region Transit and GO Transit available, commuting to Toronto is convenient. And Pickering home prices are more attainable than they are in Toronto right now.

Check out Pickering communities such as master-planned Universal City

by Chestnut Hill Developments, Cobie townhomes near Cobourg Beach

by Marshall Homes, and Maxx Urban Towns (adjacent to Pickering Golf Club) by VanMar, to name just a few.

Another option is to head north to the City of Barrie (barrie.ca), which is one of Canada’s fastestgrowing municipalities. We have seen tremendous increases in home values over the past 10 years, as transportation offerings increase. In addition to featuring lower home prices than the GTA, the city is famous for four-season resort-style living within easy access to highways.

GO trains leave for Union Station regularly, and downtown Toronto is just a one-hour ride.

Barrie is expected to double its population by 2051, so the new homes and condos of today will be in demand for years to come. A couple of examples of the high quality of new homes you will find in Barrie are LakeVu, overlooking Little Lake, by JD Developments, and Everwell singledetached homes and freehold towns in South Barrie, by Sorbara Group.

Further west, Kitchener-Waterloo has been named the second-fastest growing community in Canada for three years straight. Already considered a tech corridor and home to the ION Light Rail Transit, the area is becoming increasingly desirable, as the GO expansion from nearby London, St. Mary’s and Stratford to Union Station is underway. The VIA rail line to the Kitchener GO line is part of the pilot program, making commuting from London to Kitchener as handy as it is from Toronto to Kitchener.

The Kitchener GO expansion is transforming the line into a frequent rapid transit experience, with train service that will run outside rush hour.

A pre-construction home in this city is 69 per cent less expensive than a comparable home in Toronto. Watch

Universal City,

by Chestnut Hill Developments

for the introduction of Verde Living

by JD Developments, the beautiful new condominium coming soon to Kitchener.

Now is the time to think outside the Toronto box and look at buying your next home or condo, where your return-on-investment will likely be more substantial over time.

Debbie Cosic is CEO and founder of In2ition Realty. She has overseen the sale of more than $15 billion worth of real estate. With Debbie at its helm, In2ition has become one of the fastest-growing and most innovative new home and condo sales companies. in2ition.ca

+mORE CONTENT ONlINE nexthome.ca

nexthome.ca 35

BUILDER PROFILE | MIDTOWN

LAMBTON TOWNS OFFER RARE LOWRISE LIVING IN VIBRANT ST. CLAIR AVENUE WEST For homebuyers with a wish list for a walkable neighbourhood, easy access to transit and shopping plus a beautiful home, Dunpar Homes’ Lambton Towns checks all the boxes.

The collection of 96 back-to-back townhouses at 2650 St. Clair Ave. W. provides a rare opportunity to enjoy lowrise living in this up-and-coming neighbourhood.

Dunpar continues its tradition of bringing thoughtfully designed and well-constructed residences to vibrant communities with this collection of 94 luxury back-toback towns.

As a more affordable option to downtown, many millennials and families are choosing the St. Clair West midtown neighbourhood. The area’s undergoing a massive revitalization with many new condo towers. The Lambton Towns offer an alternative to highrise living in 36 condolife magazine | Feb. 26–March 26, 2022

this pedestrian-friendly neighbourhood rich in amenities and close to transit. The 512 St. Clair streetcar stop is just a six-minute walk away and other nearby transit options include the subway from the Old Mill station, TTC buses to downtown and GO Transit and the UP (Union Pearson Express) from Bloor Station. Hwys. 401 and 427 and the Gardiner Expressway are a short drive away. The location is convenient to downtown Toronto as well as to North York and Mississauga.

Lambton Towns residents will be able to walk to numerous stores, restaurants and services. St. Clair West’s existing retail scene has been enhanced with new boutique shops, specialty grocery markets, salons, fitness studios and gyms, restaurants and cafes as the revitalization continues. Residents will enjoy proximity to major chain stores such as Loblaws, Shoppers Drug Mart,

LCBO and Walmart. There are elementary and secondary schools, as well as childcare centres and recreation facilities for families.

It’s easy to connect with nature with an abundance of parks and proximity to the Humber River Recreational Trail. Smythe Park is a 15.3-hectare park with biking and walking trails, three ball diamonds, outdoor pool, splash pad and children’s playground. Marie Baldwin Park offers community gardens, summer camps and learning events and it’s adjacent to a leash-free dog park. The Humber River Recreational Trail is a favourite among locals for walking and biking. It follows the river and is dotted with benches, small waterfalls and fountains and provides connection to the Lake Ontario Waterfront Trail.

Malta Park is a small park with beautiful trees that’s a nice place to have a picnic and James Gardens, a former estate on the Humber River, is renowned for its gardens, stone pathways, spring-fed ponds, streams and mature trees. It’s where people can lawn bowl, cross country ski or enjoy views of downtown Toronto from a scenic lookout.

When they aren’t out and about in the neighbourhood, Lambton Towns residents can relax at home in residences with quality construction and functional floorplans.

Dunpar is as discriminating about its homes’ design and quality as it is about the neighbourhoods it chooses to build in. Exteriors are modelled on English Georgian Manors, utilizing genuine Custom Natural Indiana Limestone features and planter boxes crafted with ledger rock Kingston Hue Stone.

Interiors feature open-concept main-floor layouts at a generous 1,569 sq. ft. with three bedrooms, two baths, single car parking and rooftop decks.

Dunpar will soon launch another much-anticipated townhouse collection, Boutique Towns on Lake Shore at 80 Thirtieth St. in Etobicoke. This collection will appeal to buyers who enjoy proximity to the Lake Ontario Waterfront and to shopping, salons and spas, restaurants, transit, parks and recreation facilities. For families, childcare facilities, elementary and secondary schools are in the neighbourhood, as well as Humber College’s Lakeshore campus with its extensive post-secondary program offerings. Golfers can tee off at the private Toronto Golf Club or the public Lakeview Golf Course. Sailors can dock at the private Port Credit Yacht Club, a year-round private club, or enjoy recreational sailing with the non-profit Port Credit Sailing Club.

For more than 40 years, Dunpar Homes has been building superbly designed and architecturally unique homes and communities across the GTA. It has established a reputation as a premier builder specializing in luxury townhomes. It has demonstrated its ability to adapt to the evolving industry by offering homebuyers comprehensive virtual tools to help them achieve their ownership goals.

For more information or to register for Lambton Towns or Boutique Towns on Lake Shore, visit dunparhomes.com.

nexthome.ca 37

ADVICE REAL ESTATE PRO LOREM | IPSUM IF NEEDED

2021 SET MOMENTUM FOR A SUCCESSFUL 2022

BARBARA LAWLOR

According to Altus Group statistics, in 2021, new home and condominium sales for the Greater Toronto Area were the second highest on record after 2002, and were 27 per cent above the 10-year average.

Condominium sales were particularly robust – a full 40 per cent above the 10-year average, and just a few units short of the all-time record set in 2017. December sales alone were four per cent above the 10-year average for lowrise homes, and condo sales were the second highest after 2016.

In addition, in December, benchmark prices hit new record highs for both types of product, and inventory hit the lowest level ever for that month.

To say the industry is on a roll is an understatement. Momentum has carried into 2022, and sales are starting out strong, especially with supply still outpacing demand. We hear a lot about interest rates possibly rising, but even so, they will still be historically low. The ability to arrange mortgages at these incredible rates will continue to fuel new home and condo sales.

Then consider immigration and its effects on demand. A recent report commissioned by the Building Industry and Land Development Association (BILD) claims that the Greater Toronto Area and Hamilton should have 30 per cent more new home units per year to accommodate rising populations. It also points out 38 condolife magazine | Feb. 26–March 26, 2022

that populations have unfortunately been underestimated by Ontario’s Growth Plan for the Greater Golden Horseshoe. That plan was established before Canada’s federal government enabled international students to work here while studying, and of course, many of them stayed. It was also before Harper’s Express Entry program, which helped skilled workers come here with an expedited immigration process. Even the pandemic hasn’t dampened demand.

Trust me, builders and developers want to build more new homes and condos. They face obstacles in the form of building approvals processes that are taking longer than ever, as well as exorbitant development charges and other fees and taxes.

Previous timelines are now many months, and sometimes years, longer.

The Greater Toronto Area remains the most populous metropolitan area in Canada. The Toronto Metropolitan Area has a current population of 6.3 million, with the city of Toronto home to slightly less than three million of those, and every year those numbers increase. We attract so many newcomers because of the high quality of life we enjoy. Just think of how much safer life is here than in many other countries around the globe. We have world-class educational, recreational, cultural, sporting, medical and shopping venues. Our new homes and condos are built to an amazingly high standards, and purchasers have more choice than practically anywhere else in the world.

We also have relatively stable governments, but we need more creative input into housing from

X02, Lifetime Developments

all three levels. I long for the day when demand outpacing supply is no longer an issue in the GTA. In the meantime, we continue to sell new homes and condos amid a strong and resilient industry.

Barbara Lawlor is CEO of Baker Real Estate Inc. A member of the Baker team since 1993, she oversees the marketing and sales of new home and condominium developments in the GTA, Vancouver, Calgary and Montreal, and internationally in Shanghai. baker-re.com

+MORE CONTENT ONLINE nexthome.ca

ADVICE | PERSONAL FINANCE

LOOK BEYOND THE RATE KEY FACTORS TO CONSIDER IN YOUR MORTGAGE

JESSE ABRAMS

Many people think that locking in a good interest rate is the best way to save money on your mortgage.

However, it’s actually the features that will help you save the most money in the long run. With rates rising, it’s important to look beyond just interest rates and consider other key features when shopping around for a mortgage.

WHICH MORTGAGE FEATURES SAVE YOU THE MOST MONEY?

The real savings come with a fullfeatured mortgage. The truth is, many homebuyers break their mortgage before the end of their five-year term.

This can be for a number of reasons, including upsizing to a larger home, moving to a new city or refinancing to borrow more against a home’s equity. However, depending on your mortgage contract, breaking your mortgage could potentially result in a large penalty fee. Sometimes, this could cost you up to $30,000 or more.

Some lenders offer products called “Low Rate Basic” mortgages or “No Frills” mortgages that come with slightly lower rates. While many people are enticed by these options, they don’t realize that they come with fewer features. Although these options might save you $1,200 over the course of your five-year term, the penalty to break this type of mortgage could likely end up being 20 times greater – no one wants that. Further, some large financial institutions have very large penalties when breaking

a mortgage, based on their “posted rate,” which is usually much higher than their promoted rates. When a mortgage is broken, that posted rate is often the barometer for the penalty.

That’s why you want to ensure that you’re securing a full-featured mortgage that includes prepayment privileges and low penalties in your contract. Some other key features to consider are: ANNUAL LUMP SUM PAYMENTS

This is the amount of money you can put down on an annual basis to pay off your mortgage quicker.

Some lenders allow for zero annual lump sums, while others offer up to 20 per cent. If you’re expecting to get a raise or an inheritance, this option will allow you to put this extra money toward your mortgage without penalty.

MONTHLY PREPAYMENTS

These prepayments serve as extra money you’re allowed to put toward your mortgage on a monthly basis.

Having the flexibility to pay down your mortgage faster allows you to pay less interest over time. However, if you don’t have this prepayment privilege in your mortgage contract then you’ll likely incur a fee.

ACCELERATED PAYMENTS

This option enables borrowers to pay down their mortgage in a

shorter period of time by making two additional payments each year.

For example, if you have a 25-year mortgage and have the option to make accelerated payments, you’ll be able to cut your mortgage term down to 22 years – which means you’re paying a lot less interest over time.

At Homewise, we often find that first-time buyers aren’t always aware of these beneficial features and the details of their mortgage payments.

They’ll typically go straight to their existing bank for a mortgage, without shopping around for a more suitable option.

It’s always a good idea to shop around for a mortgage, as features will vary from one lender to the next.

That’s why it’s important to explore what’s available in the market and take the time to understand what each lender is offering. Instead of focusing solely on the rate, you want to really keep an eye on those prepayment privileges and penalties to ensure that you’re not losing out on the opportunity to save money in the future.

Jesse Abrams is Co-Founder at Homewise, a mortgage advisory and brokerage firm. thinkhomewise.com

+MORE CONTENT ONLINE nexthome.ca

nexthome.ca 39

BUILDER PROFILE | DOWNTOWN

THE GEORGIAN SOPHISTICATION MEETS SPACIOUSNESS AT NEW STAFFORD HOMES PROJECT It’s a troubling tale as old as time: You can call Toronto home, or you can call your home spacious. But now, a boutique building rising in south Cabbagetown presents luxuriouslydesigned suites to those seeking livable (read, life size) urban dwellings.

Even the truest urbanites will admit when it comes to comfort, condos in the heart of Toronto sometimes leave something to be desired. That something being, in a word, space.

Esteemed developer Stafford Homes recognizes this issue and, in response, raises The Georgian.

Emerging where Gerrard Street East meets Parliament Street, the boutique building features a variety of suite sizes, and most uniquely notable 40

condolife magazine | Feb. 26–March 26, 2022

are its three-bedroom offerings.

Diamonds in the rough of downtown real estate, these spacious layouts are respites from the 500-sq.-ft. norm so well established in the core’s condo scene.

It’s not hyperbole to say what The Georgian brings to south Cabbagetown is unmatched. Stomp the pavement in this energized neighbourhood – that is, true downtown – and attempt to point out any condominium with three bedrooms prioritized on its roster.

You’ll struggle. Large suites you do find will be priced at luxury heights, rendering them inaccessible to many who the core appeals to most – young professionals, new families and

invigorated buyers who live for the city’s buzz.

“Downtown Toronto has inherent appeal,” says Jonathan Goldman, president of Stafford Homes. “The core is bursting with life, energy and action, and it makes sense that people – especially young people who love that bustling vibe – would be willing to sacrifice a comfortable living space to truly immerse themselves in it. But they shouldn’t have to.”

With suites starting in the $800,000s, The Georgian presents an opportunity for these urbanites to stake their claim on a piece of downtown real estate. And because the suites are designed to be so wellsuited to their lifestyles, buyers will

experience immediate, day-to-day returns on their investment.

“With The Georgian, we’re shaking up the downtown cliche of suites that draw in investors for rental purposes, or tiny spaces that can only really serve as a weekend pied-a-terre,” Goldman says. “These suites were designed with the end-user’s quality of life top of mind.”

But a functional solution to downtown’s issue of space and access shouldn’t sacrifice form.

Here again, Stafford serves answers.

The design by U31 ensures the condominium’s chic, modern interiors beautifully balance the exterior’s use of brick and warm neutrals. Via a heritage component incorporated into The Georgian’s built form, the building’s architecture, crafted by RAW, embraces the area’s established aesthetic of century Victorians lining residential streets.

Speaking of which, beyond being picturesque, Cabbagetown is overflowing with appeal. Of course, the Eaton Centre is just steps away,

and those benefits go without saying.

But furthermore, the neighbourhood comes complete with several grocery purveyors (including the St. Lawrence Market), lush greenspaces such as Riverdale Park, and beloved eateries including F’Amelia and TASSO – the latter of which you should arrive early to, lest you miss out on the morning’s exclusive batch of buttery croissants.

For those in the midst of their studies, neither Ryerson nor George Brown could be closer, while U of T’s St. George campus is a short walk away. Arts and culture enthusiasts will appreciate convenient access to the ROM, the Phoenix Concert Theatre, and the Distillery District.

TTC access is also a breeze from The Georgian’s location; an afternoon on Roncesvalles is as easy as a streetcar ride, similarly for a visit to Woodbine Beach.

While it’s inarguably the building’s three-bedroom offerings that stand out as unique for downtown, The Georgian’s exclusive selection of 107 suites includes one- and two-

bedrooms, as well. Regardless of a unit’s size, each one in the sevenstorey condominium boasts nine-ft. ceilings (10-ft. in the penthouses), sleek, modern finishes, a balcony or terrace, and in the kitchen, custom cabinetry and quartz countertops.

Amenity offerings include a fitness centre with a yoga and stretch studio, a rooftop terrace, a pet playground, and more.

The Georgian marks a new era for what it means to reside in Toronto’s core, and Stafford Homes – with more than 50 years of experience carrying out land development, construction, and property management in Canada and the U.S. – will infuse the project with its values of innovation, quality and efficiency.

So, if the core calls your name, but spacious dwellings do, too, you can drop your worries at the door. With The Georgian, you really can have it all.

Visit thegeorgianresidences.ca to learn more. nexthome.ca 41

BUILDER PROFILE | BRAMPTON

DUO CONDOS A MASTERPIECE IN ARCHITECTURAL DESIGN AND ELEVATED FINISHES National Homes and Brixen Developments launch a new development in the heart of Brampton. The builders are no strangers to building quality homes and condos in great locations. And DUO is no different. Views to the lake, easy access to transit and retail, and a sophisticated architectural design are only a few of the reasons why DUO Condos is taking the Brampton real estate market by storm.

The 2.6-acre transit-oriented community, situated at the corner of Malta Avenue and Steeles Avenue, just west of Hurontario, will consist of two towers connected by an outdoor Euro-inspired piazza and courtyard.

The first 26-storey tower will feature 349 suites, many with outdoor living 42 condolife magazine | Feb. 26–March 26, 2022

spaces such as airy balconies or spacious terraces.

The project, designed by IBI Architects, showcases modern, sawtooth balconies and contrasting colours which embody the duality of the design concept. Hence the name, DUO. The dark brick podium complements the tower above, clad in black metal and glass with white and black accents throughout. DUO Condos was created to fit within the existing neighbourhood, while also standing out as a masterpiece in architectural design and elevated finishes.

The interiors were designed by EsQape Design, with a two-storey lobby and courtyard featuring 3,500 sq. ft. of ground-floor retail in the first building.

Residents can enjoy an outdoor amenities area with sun cabanas, a wraparound terrace, barbecue dining and a sports flex lawn. Inside, there is a social room, with a full chef’s kitchen and bar, as well as a co-working space with nooks for independent working and a large table for collaboration. For healthy living, there is a fitness studio featuring a cardio section, spaces for yoga, Pilates and spinning, and a separate room for private classes or a group session. A clever kids play room overlooks the gym and fitness area, so parents can work out while the kids play.

The first tower has options for studios, one-bedrooms, onebedrooms plus den, two-bedrooms and two-bedrooms plus den. Prices are described as “affordable,” starting from the low $500,000s. According to Jason Pantalone, president and managing partner of National Homes, a “key point is the affordability factor in terms of providing an additional type of housing in Brampton that really isn’t in the market today, given the higher prices of single-family homes and townhouse developments.”

The location boasts endless growth and great investment potential with Sheridan College a short walk down the road, the Malta Zum bus stop out the front door, and a wide variety of retail shops, including Shoppers World and Real Canadian Superstore only minutes away.

Not to forget the Brampton Gateway Terminal and the new Hazel McCallion LRT Station – only minutes away from DUO and slated for completion in 2024. The LRT will connect residents to Mississauga with 19 stops on the way to the Port Credit GO Station.

Alexander D’Orazio, principal with Brixen Developments, says the condo was designed with “all kinds of buyers in mind… downsizers, empty nesters, young professionals who want to take the LRT to work, a student going to school at Sheridan College.”

Virtual appointments can be made by registering at duocondos.ca.

nexthome.ca 43

ADVICE | WESTERN VIEW

FORECAST FOR FAILURE HOW BAD DATA HAS HANDCUFFED OUR HOUSING PROJECTIONS

MIKE COLLINS-WILLIAMS

Cities and towns decide on housing plans based on population growth forecasts. What could happen if said forecasts were inaccurate and the actual population numbers proved to be way higher than projected?

Well, this is the exact scenario we are living through right now, as we find ourselves in the midst of a housing crisis where there are not enough homes available in either the new housing or resale market.

Runaway costs are quickly pricing out families and the next generation of young Canadians.

A Forecast for Failure, the new report from the Smart Prosperity Institute written by Dr. Mike Moffatt, documents the failures that took place over the past decade, to accurately plan for the necessary amount of new housing to meet population growth. The result of such

an inaccuracy is all too predictable with ever increasing housing prices and more young families looking to move to communities beyond the GTHA where housing that meets their needs is more attainable.

Dr. Moffatt has found that outdated forecasts and a lack of contingency buffers in the Growth Plan for the Greater Golden Horseshoe (GGH) played a significant role in southern Ontario’s housing shortages. He finds that our forecasts underestimated population growth from international sources since 2016. In just five years, Ontario’s adult population grew by hundreds of thousands more than we planned for, each of whom needs a place to call home.

A stunning find is that the GTA and Hamilton’s population growth from international sources between 2016 and 2021 was more than 120,000 more than was forecast. In addition, during the same period, the size of the housing stock was overestimated by 26,000 units. Unless we solve this, it is likely that our future in terms of the cost of housing may look a lot like the recent past.

So why did past housing forecasts completely miss the boat? There were two big policy changes midway through the last decade. The first was in 2014 when the federal government made reforms encouraging more international students to come to Canada, and the second was in 2015 with the introduction of the express entry program for skilled immigrants.

Furthermore, the 2020 Growth Plan forecasting update does not account for the significant increases in Canadian immigration targets set by the federal government as part of its post-pandemic recovery plan.

As more young families and talent are looking for room to settle and grow, the need for balanced solutions to address the chronic undersupply of housing is critical. We need our cities to provide more choices, not less. We need accurate forecasting that builds in a contingency if population growth exceeds the original forecast, to avoid severely distorting the housing market like we are experiencing today.

Overall, municipalities need to stop constraining housing supply to ensure that we are planning for a full range of housing types to suit all our community’s needs. The only way we can meaningfully do this, is through better long-term planning that can balance supply and demand while building more housing of all types.

Mike Collins-Williams, RPP, MCIP, is CEO West End Home Builders’ Association. westendhba.ca.

+MORE CONTENT ONLINE nexthome.ca

44

condolife magazine | Feb. 26–March 26, 2022

ADVICE | THE MARKETING EDGE

CITIES OUTSIDE TORONTO CORE BECOMING MORE POPULAR HOMEBUYING CHOICES

NICK MONTELEONE As affordability in Toronto becomes ever more challenging for the average homebuyer, we are seeing a great exodus to the suburbs. Facilitated by the pandemic and the new workingfrom-home model, more and more people are buying homes outside the city – with communities such as Oakville, Burlington and Oshawa becoming popular choices.

Once considered bedroom communities, these small cities within the GTA have tremendous appeal. All three are lakeside communities with active waterfronts.

All three have outstanding transit connections and super-highways to facilitate commuters.

All three have significant cultural and recreational attractions that appeal to families. They all have exceptional schools and proximity to higher education. With big box stores, hundreds of restaurants, easy connections to nature, healthcare, banking and all the stuff that eases the everyday, these smaller cities are perfect lifestyle microcosms that make homeownership possible.

With affordability the main driving factor for people choosing to live outside of Toronto proper, it has become more important for developers to craft living experiences that appeal to a price-driven yet sophisticated market. Their mandate?

Creating homes that are welldesigned with spaces that appeal to families, homes that grow with them as their families grow and age, and homes that are polished with finishes that are beautiful and timeless.

Another big consideration is the community experience.

We are seeing more and more developers creating community spaces within townhome developments – central parks, children’s play areas, places for neighbours to meet and greet outside.

Creating a strong community within the community is a key strategy to designing neighbourhoods that people want to live in. The convenience of taking a walk to the local park after dinner while the children play with friends and parents chat with neighbours is a highly prized feature of many new communities.

Another important trend is locating new communities close to nature.

The smaller cities I’ve mentioned

are all within minutes of the lake, parks and trails. One can enjoy these with easy access by foot, bike or car. Today’s active families demand connection to nature and the new communities we are helping to market in Oakville, Burlington and Oshawa deliver this in spades.

Another factor that is vital to people looking outside of Toronto is commuting practicality. People can live in Oshawa, Oakville or Burlington and be in downtown Toronto, in some instances, in less than an hour via car or GO train.

With more people working from home, and commuting for work becoming less prevalent, it is even more attractive to take advantage of the lower housing prices and excellent lifestyles available outside Toronto, particularly if it makes the difference between being able to own versus renting.

While living in Toronto has its appeal to hard core urbanites, the suburbs are a more feasible choice for young families wanting to own their own home, escape the frenzy of the city, and enjoy a more relaxed, and closer to nature, lifestyle just an hour away.

Nick Monteleone is Principal and Creative Director, 52 Pick-up Inc., with an extensive background in design.

Montelone is a strong believer in targeted marketing and has helped builderdeveloper clients sell billions of dollars in new construction over the past 20-plus years.

+MORE CONTENT ONLINE nexthome.ca

nexthome.ca 45

Photo: Jason Hartog. Project: lindamazurdesign.com

INTERIORS

IN THIS SECTION: BIG STYLE | DECOR | STYLE FILE nexthome.ca 47

INSPIRATION |

decor

HAVING YOUR OWN

SPA-LIKE BATHROOM

by LINDA MAZUR

Let’s face it – we all would love a big, spa-like bathroom to start and end our days, but not all of us are afforded the luxury of square footage for a large soaker tub and walk-in shower in our bathrooms. If you live in a small home and need to keep the traditional tub-shower combination due to space constraints, don’t feel like a great looking bathroom is out of reach.

Small bathrooms can definitely be a challenge. Try as you may, there is only so much space to fit in all the necessities, attempt to provide adequate storage solutions and still create the Instagram-worthy bathroom everyone 48 condolife magazine | Feb. 26–March 26, 2022

wants. Smaller homes and condos are often outfitted with only a single full bathroom, so a tub-shower is a great two-in-one space-saving solution. This combination makes the most of limited space by providing all the benefits, just in a compact footprint. They can be very cost-effective compared to a separate tub and shower option when renovating, and open extra space for a large vanity and more enhanced storage.

So, we know all the practicalities of a tub-shower combination for your small bathroom, but there is still the lingering desire for a luxe looking spa-like space. Modern

tub-shower combinations come in a wide variety of attractive designs and styles to suit your particular design and needs. You do not need to limit yourself to pre-fabricated, all-in-one units. Tub-showers can be completely customized from the size, style and colour of tub you choose, to your preferred choice of faucets and fittings. Detachable or rain shower head? Gold, nickel or black? Traditional or modern? It’s entirely up to you. When it comes to selecting a glass door to make your space feel bigger or for a private enclosure, your choice depends on your budget and comfort level.

Another way to customize is through tile, and with countless selections available, it’s easy to get inspired and create a wonderful looking bathroom. From monochromatic elegance to bold colours, rustic wood-grained tile to 3D tiles, to textured tiles and fun patterns, there is an endless array of possibilities that can elevate the simple tub-shower combination.

If you’re on the hunt for a more upscale approach, why not try a large format tile with a beautiful natural marble vein; not only will it make your space look and feel more luxurious, it also limits the grout lines.

If you feel like you have been compromised by being dealt a small bathroom with a tub-shower in your home, think again! With all the possibilities available today, that high-end spa-like bathroom is definitely within reach. Homes without bathtubs can be challenging on resale, so embrace your tub-shower complement and get inspired to create an amazing space for your home.

Linda Mazur is an award-winning, nationally publicized designer and Principal of Linda Mazur Design Group. With almost two decades of experience this in demand multi-disciplinary design firm is known for creating relaxed, stylish spaces and full-scale design builds within Toronto, the GTA and throughout Canada. lindamazurdesign.com @LindaMazurGroup nexthome.ca 49

INSPIRATION |

FRESHEN UP YOUR SPACE FOR

big style

SPRING

USHER IN THE NEW SEASON WITH FLORAL ACCENTS AND FRESH PATTERNS

by LISA ROGERS

Spring is a gorgeous season, not only because the days get longer and the sun shines brighter, but the feeling of optimism it brings is hard to beat.

And while we tend to focus a lot of our attention on spring cleaning this time of year, it’s also a wonderful opportunity to refresh your space with some simple, stunning decor ideas that can bring life back to your home. Follow these suggestions to bring the season into your own space.

REPAINT YOUR BOOKCASES

Bring life back to your built-in bookcase by painting it a fresh spring 50 condolife magazine | Feb. 26–March 26, 2022

colour. I love the idea of a soft pastel – think mint or pink – and then play with your accents by adding topiaries or little pots of fresh flowers scattered across the shelves. If that still feels like too much of a commitment, I do love the idea of colour-coordinating your books – it still looks fabulous and curated.

BRING IN SOME PAMPAS GRASS

Pampas grass is very popular right now, and I love how it exudes a relaxed, bohemian look that can fit into any modern or neutral colour palette in your home. Because it’s

a dried floral, it will stand the test of time, so it’s a great investment with zero maintenance. These work anywhere, and depending on which ones you go with, you can place them in any size vase for any room.

BRIGHTEN UP YOUR DOORWAY

As with your bookshelves, why not try a similar treatment on your door or even just the frame? It’s the easiest upgrade that packs a beautiful punch, and raises your home’s curb appeal in the process. A couple of hours and your favourite spring-inspired shade, and you will have completed a project

that lightens up your home and makes an impact.

SWITCH YOUR BEDDING

Swap your cotton or heavier fabric bedding for the pleasure of soft linens. With warmer weather approaching, you want linens that feel light to the touch and don’t (literally) weigh you down. There are so many colour options to choose from, but I love to stay neutral with slate grey, sand or cream tones.

PLAY WITH FLORAL WALLPAPER

Nothing harkens spring more than this season’s crop of floral wallpaper.

Depending on your style, you can go big and bold with large patterns and blooms or you can stay understated with less imposing prints. I love floral wallpaper functioning as an accent wall in a powder room or the bedroom. Complement the paper by finding soft furnishings and accessories that bring some of the featured colours into the space.

TRY CITRUS CENTREPIECES

Build your own seasonal centrepiece with a quick trip to the grocers: Buy a bunch of tangerines, lemons or limes and fill a clear glass vase to place in the centre of your dining table. It immediately feels like spring has arrived and reminds me of dining al fresco.

Lisa Rogers is Executive Vice-President of Design for Dunpar Homes (dunparhomes.com). Lisa has shared her style and design expertise on popular television programs such as Canadian Living TV, House & Home TV and as a regular guest expert for fashion and image, health and wellness and design on CityTV’s Cityline. Follow Lisa’s blog at craftedbylisa.ca nexthome.ca 51

A TREE FOR EVERY HERO.

Join us in planting 2 million trees along the 401 Highway of Heroes, a tribute to the men and women who fought for Canada in our wars, and a living memorial to the 117,000 who died for freedom.

Get involved today:

As part of Trees for Life’s Tree Coalition, we are proud to work collaboratively with GrandTrees Climate Solutions.

Big ideas INSPIRATION |

style file

f o r s m a l l s pac e s

Designer Kate Davidson shares some

helpful advice to maximize your small home

S

mall spaces have become the norm, as real estate values continue to rise and people recognize the economic and environmental benefits of compact living. From a design perspective, my clients approach their small space in two ways: To make it appear larger, or accept and appreciate its compact, cosy attributes. The challenges of decorating and living in a small

area are real, but they’re not insurmountable. Here are some tips to make the most of every inch, with examples of how I put these principles into practice.

Make the most of it There are a few tricks for living larger than your square footage may dictate on paper. Start by decluttering. Nothing makes a home feel cramped like an onslaught of

stuff. Evaluate everything. If you don’t love it or haven’t used it in the past six months, except for seasonal items, get rid of it. You can sell or donate gently used items and recycle or trash the rest. Then, explore storage solutions to tackle everything you intend to keep.

Storage is an industry with no shortage of custom and off-the-shelf products to tackle clutter, from shelves and cabinets, storage baskets and boxes, and multi-functional furniture. nexthome.ca 53

Beyond storage, some decorating strategies can create the illusion of space. Start by painting the walls in a light, neutral colour. Lighter colours make the walls appear further away, thus enhancing the sense of space, while darker hues tend to pull them in. This trick applies to large-scale furnishings and floor coverings, as well.

While we’re on the subject of light, maximize the natural light in the room by removing heavy window treatments. Then add mirrors to double the natural light visually.

Beyond this, ensure you have sufficient lighting in the form of ambient (overhead) fixtures, task lighting and accent lighting. By brightening the space, you’ll increase its function and your perception of its size.

I applied these light principles in this space, which features continuous white walls and trim, with light furniture. The rug underfoot anchors the area while tying together the light and dark tones of the space. The wood furniture echoes the hardwood too. Here, less really is more, with minimal use of accessories and a focus on simplicity.

When choosing furniture, consider scale. It’s unlikely that a compact home has the room for a massive sectional or a huge dining table with seating for 12. Instead, choose pieces with slim silhouettes, lower profiles and legs that let light pass through. Also, look for furniture that has see-through and reflective

Kate Davidson, is the Founder and Principal Designer of Kate + Co Design. For more than a decade, the multidisciplinary interior design firm has been providing complete residential and commercial design services throughout North America.

Kate + Co is known for creating luxurious livable interiors. kateandcodesign.com @kateandcodesigninc

54 condolife magazine | Feb. 26–March 26, 2022

When

choosing

furniture,

consider the scale qualities, such as glass and chrome.

The idea is to lighten their visual weight within the room.

It’s not small, it’s ‘cosy’ Of course, I believe that small spaces are appealing. They offer several benefits: They’re easier to clean and organize; they cost less to finish, furnish and maintain; and have a warm, welcoming vibe that’s impossible to replicate in wide, open areas.

Don’t fight it. Instead, play up the cosy factor by focusing on softness and warmth – layer in lots of texture

by marrying materials such as natural wood, leather and various textiles.

Cover the walls with dark, brooding paintings or photographs, and add dimmer switches on all light sources, allowing you to adjust the light level based on your activity and mood.

Your home may be short on square footage, but every small space offers endless opportunities. It just takes some creativity, an open mind and, at times, a little professional help!

nexthome.ca 55

CONDO PROFILES

XO2 Condos

developer: style: size: prices from: features:

Toronto

LIFETIME DEVELOPMENTS & PINEDALE PROPERTIES

Highrise 406 to 1,073 sq. ft.

From the $500’s • Located at King St. W & Dufferin St. • Transit Score of 100 & Walk Score 96 – easy access TTC, SmartTrack, GO Transit & the New Ontario Line • 18,000 sq.ft. of indoor & outdoor amenities including: 3,500 sq.ft. Freemotion Fitness Lab, KO-XO Boxing Studio, Games Room, Resident’s Lounge, Think Tank, Children’s Den, Outdoor Dinning & Lounge, Rooftop Bocce Court & Urban Parkette contact: XO2Condos.com location: King St. W + Dufferin St.

Duo

Toronto

developer: NATIONAL DEVELOPMENTS AND

BRIXEN DEVELOPMENTS INC.

style: Highrise size: 26 storeys features: • Studio, 1 bed, 1 bed + den, 2 bed, 2 bed + den • Lobby, Gym, Co-Working Space • Kids Playroom, Party Room, Private Dining Room With Catering Kitchen • Rooftop with BBQ’s, Flex Lawn, Dining and Lounge Areas contact: duocondos.ca location: Steeles Ave. W and Malta Ave. just west of Hurontario presentation centre: 245 Steeles Ave. W. 56 condolife magazine | Feb. 26–March 26, 2022

Express 2

Toronto

developer: Malibu style: Highrise features: • Junior 1 bed, 1 bed, 1 bed + den, 2 bed, 2 bed + den, 3 bed • Lobby with 24/7 concierge • Pet spa • Fitness room,cross fit training/boxing equipment, separate yoga studio • 7th floor Sky Lounge with water wall, butterfly meadows, loungers, seating • Steps to neighbourhood park & walkway to subway • 6 storey podium with two towers contact: express2condos.ca | 416-703-2202 location: Tippett Road and Wilson Avenue - Coming Soon!

The Georgian

developer: style: size: prices from: features:

Toronto

STAFFORD

7-storey boutique condominium Up to 1,287 sq.ft From the $800’s • Large suites up to 3-bedrooms • Amenities include rooftop Terrace, Pet Playground, Fitness Centre, Yoga & Stretch Studio, Co-working space with Wi-Fi, Social Lounge • Walking/biking distance to downtown core, hospitals, schools contact: info@thegeorgianresidences.ca | 416-787-4292 location: 227 Gerrard Street East (South Cabbagetown)

CONDO PROFILES

MRKT Alexandra Park

developer: style: size: prices from: features:

Toronto

TRIDEL

Highrise from 755 -1235 Sq. Ft. $1M for 2 bedroom suites • New Release of 2 and 3 Bedroom Suites • Steps from Toronto’s Kensington Market, Queen West and Chinatown.

• Lifestyle amenities designed to connect spaces and people. A Two-Storey Gym, Swimming Pool & Rooftop Terrace, Private, Landscaped Courtyard, Outdoor Terrace, & Garden, Kids’ Zone and Youth Zone contact: Tridel.com location: Dundas St. W. + Denison Ave.

Bristol Place

Gallery Towers

developer: style: size: prices from: features:

Markham

THE REMINGTON GROUP

Highrise 515 to 1,688 sq. ft.

From the $600’s • 9 Ft 10ft and 11ft ceilings • The towers offer exceptional 1, 2 and 3 bedroom residences with den options and spacious terraces with 2 storey towns • Outdoor fitness studio, outdoor dog walk, dog wash station, games room and wet bar, canopied dining with bbq areas and lounge seating • Indoor amenities games lounge, dining and party room, state of the are fitness and more contact: downtownmarkham.ca location: Warden + Enterprise

Brampton

nexthome.ca | myhomepage.ca

Greater Toronto Area Dec. 19, 2020–Jan. 30, 2021

Toronto’s Finest NEW HOME GUIDE

Fabulous LIVING IN THOROLD!

HOMES, Condo Life, Active Life Reno + Decor

WEST COMMUNITY NEW PHASE COMING SOON! DISCOVER SINGLE FAMILY HOMES AND SPACIOUS TOWNS!

INSIDE:

condolife

The ‘best of the best’ coverage in the categories of new home; new condo; adult lifestyle; design, decor and renovation.

SOLMAR DEVELOPMENT CORP.

Highrise Starting from 432 sq. ft.

• Two 48 storey towers on a podium within a landscaped courtyard • 1 bed, 1 bed + den, 2 bed, 3 bed • Steps to Go, VIA Rail, and ZUM rapid transit • Surrounded by shopping, dining, arts and culture • Party room, gym, yoga, lounge, outdoor BBQ & dining area, work stations and more contact: bristolplacecondos.ca location: 199 Main St N, Brampton, ON L6X 1N2

Greater Toronto Area Dec. 5, 2020–Jan. 16, 2021

Greater Toronto’s COMPLETE CONDO GUIDE

The Rose Hill Condos New Capital North Communities condo in Vaughan launching soon nexthome.ca | myhomepage.ca

developer: style: size: features:

WHERE MORTGAGE RATES ARE HEADED IN 2021

DEC. 5, 2020–JAN. 16, 2021

Order in!

120520_CondoLife_GTACentral_Edit_49.indd 681 120520_CondoLife_GTACentral_Cover_49.indd

HOMEBUYER INTENTIONS STILL STRONG: SURVEY

nexthome.ca | myhomepage.ca

2020-11-27 2:30 PM

INSIDE:

HOMEBUYER INTENTIONS STILL STRONG: SURVEY

WHERE MORTGAGE RATES ARE HEADED IN 2021

120520_CondoLife_GTACentral_Edit_49.indd 1

2020-11-27 3:06 2:30 PM

Ontario Edition Nov. 7, 2020–Feb. 27, 2021

nexthome.ca | myhomepage.ca

travel & leisure | home & garden | technology & finance | beauty & wellness

Receive your favourite magazines to your inbox.

THE BEST COLLECTION OF NEW 4 SEASON HOMES

in the Georgian Bay area

SHERWOOD HOMES

To get the latest real estate news, renovation ideas, deals and offers, sign up to our e-newsletters!

THE RIGHT MORTGAGE AND A LOW RATE

EXCLUSIVE MAP GUIDES TO 300+ ONTARIO ADULT LIFESTYLE COMMUNITIES

110720_ActiveLife_Ontario_Cover_45.indd 1

2020-10-28 1:10 PM

nexthome.ca | myhomepage.ca

Canada’s HOME IDEA BOOK

STREAMLINE YOUR HOME NOW! • CLEVER STORAGE OPTIONS • SMALL SPACE SOLUTIONS

living

SUSTAINABLE

THE

truth

IDEAS

ABOUT RENOS

FEB./MAR. 2021

$4.95

5 TIPS

TO DE-CLUTTER LIKE A PRO PRODUCT SHOWCASE: HOME INSPIRATION

To get started visit: nexthome.ca/newsletter nexthome.ca 57

HOT PROPERTIES | GREATER TORONTO AREA

9 8 61 58 62 17

63 18

60 41

64

42

4

36

39 47

48

51 25 38

27

45

2 3 5 11 12 13 16

15

14

58 condolife magazine | Feb. 26–March 26, 2022

7 6

1

44 29 30 40 57 56 50 54 35 43 46 34 23 54 52 45 26 49 28 53 33 31 32 24

59

19

10

21

20 22

37

MAPS

CARTOGRAPHY: MARKETMAPS.COM

Match the map numbers with property listings on the following Hot Properties page

nexthome.ca 59

HOT PROPERTIES

FIND YOUR NEXT HOME

The latest properties in the Greater Toronto Area to keep your eye on

Legend: HR = High Rise CTH = City Home MR = Mid Rise LO = Loft LR = Low Rise LW= Live Work PH = Penthouse RH = Row Home TH = Townhouse

MAP 1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

11.

12.

13.

14.

15.

16.

17.

18.

19.

20.

21.

22.

23.

24.

25.

26.

27.

28.

29.

30.

31.

32.

33.

34.

35.

36.

37.

38.

39.

40.

41.

42.

43.

44.

45.

46.

47.

48.

49.

50.

51.

52.

53.

54.

55.

56.

57.

58.

59.

60.

61.

62.

63.

64.

LOCATION

SITE

TYPE

ADDRESS

CONTACT

Etobicoke..............................Mirabella ........................................................... HR ......................... 1926 Lake Shore Blvd. W. ..............................................mirabellacondos.ca Etobicoke..............................Westerly ............................................................ HR ......................... Islington & Dundas............................................................................tridel.com Etobicoke..............................Reina .................................................................. HR ......................... Royal York & The Queensway ..........................................reinacondos.com Etobicoke..............................Humberwood Heights ........................... CTH/FTH ................... 50 Humberwood Blvd. .......................................tributecommunities.com Etobicoke..............................Cypress at Pinnacle Etobicoke ................... HR ......................... 5475 Dundas St. W. ................................................pinnacleinternational.ca Etobicoke..............................Verge ................................................................. MR ......................... Islington & The Queensway ........................................... vergecondos.com Etobicoke..............................36 Zorra Condominiums.............................. MR ......................... 36 Zorra................................................................... altreedevelopments.com Markham/Unionville..........Panda Markham ............................................. HR ......................... 8200 Warden Ave. ............................................lifetimedevelopments.com Markham/Unionville..........Varley Condo Residences .............................LR.......................... 20 Fred Varley.........................................................tributecommunities.com Markham...............................Canvas on the Rouge.................................... MR ......................... Donald Cousens Pkwy & Ninth Line ................................. flatogroup.com Mississauga ..........................Amber at Pinnacle uptown ......................... HR ......................... 5044 Hurontario St. ..............................................pinnacleinternational.ca Mississauga ..........................Perla Towers at Pinnacle Uptown.............. HR ......................... 5044 Hurontario St. ..............................................pinnacleinternational.ca Mississauga ..........................Oro, at Edge Towers ..................................... HR ......................... 24 Elm Dr.W..........................................................................................solmar.ca Mississauga ..........................Brightwater Condos .....................................CTH........................ 70 Mississauga Rd. S. .......................................mybrightwatercondos.com Mississauga ..........................Artform Condos.............................................. MR ......................... 86 Dundas St. E. ............................ artformbyemblemdevelopments.com Mississauga ..........................Gemma at Pinnacle Uptown....................... HR ......................... 5044 Hurontario St. .................................................... pinnacleuptown.com North York ............................M2M ................................................................... MR ......................... Yonge & Finch ..................................................................... m2mcondos.com North York ............................The DIamond .................................................. HR ......................... 5336 Yonge St.................................diamond.diamantedevelopment.com Oshawa .................................U.C. Condos..................................................... HR ......................... Simcoe St. N. & Winchester Rd. W. ....................tributecommunities.com Scarborough ........................Pinnnacle Toronto East ............................... HR ......................... 3260 Sheppard Ave. E. .........................................pinnacleinternational.ca Scarborough ........................FourMe .............................................................. HR ........................ Markham Rd. & Ellesmere ............................................fourmecondos.com Scarborough ........................Highland Commons ...................................... MR ......................... 1625 Military Trail..............................................thehighlandcommons.com Toronto .................................111 River St. Condos ...................................... HR ......................... 111 River St. .........................................................lifetimedevelopments.com Toronto .................................200 Queens Quay W. .................................... HR ......................... 200 Queens Quay W. ......................................lifetimedevelopments.com Toronto .................................Lawrence Hill Urban Towns .......................CTH........................ Don Mills & Lawrence ................................. lawrencehillurbantowns.com Toronto .................................489 Wellington St. W. ................................... HR ......................... 489 Wellington St. W. .......................................lifetimedevelopments.com Toronto .................................500 Dupont St. ............................................... MR ......................... 500 Dupont St. ...................................................lifetimedevelopments.com Toronto .................................Aqualuna at Bayside ..................................... HR ......................... 200 Queens Quay East ...................................................................tridel.com Toronto .................................Artistry Condos ............................................... HR ......................... 292 Dundas St. W. ..................................................tributeartistrycondos.ca Toronto .................................Panda Condos................................................. HR ......................... Yonge & Dundas. ...............................................lifetimedevelopments.com Toronto .................................Skytower at Pinnacle One Yonge .............. HR ......................... 1 Yonge St. ...............................................................pinnacleinternational.ca Toronto .................................The Prestige at Pinnacle One Yonge ....... HR ......................... 1 Yonge St. ...............................................................pinnacleinternational.ca Toronto .................................Tridel at the Well ........................................ MR/HR ..................... Spadina Ave. & Wellington St. .....................................thewelltoronto.com Toronto .................................Via Bloor ........................................................... HR ......................... Bloor & Parliament. ...........................................................................tridel.com Toronto .................................The PJ Condos ............................................... HR ......................... 283 Adelaide St. W..................................................pinnacleinternational.ca Toronto .................................36 Eglinton Ave. W. ....................................... HR ......................... 36 Eglinton Ave. W. ..........................................lifetimedevelopments.com Toronto .................................Linx Condominiums ...................................... HR ......................... Danforth & Main ................................................ tributecommunicties.com Toronto .................................Y&S Condos .................................................... HR ......................... 2161 Yonge St. .......................................................tributecommunities.com Toronto .................................Burke Condos ................................................. HR ......................... Bloor & Sherbourne ..................................................... burkebyconcert.com Toronto .................................MRKT Alexandra Park .................................MR HR...................... Dundas & Spadina .............................................................................tridel.com Toronto .................................181 East ............................................................. HR ......................... 181 Sheppard Ave. East ...................................................................stafford.ca Toronto .................................Avenue & Park ................................................. MR ......................... Avenue Rd. & Bedford .....................................................................stafford.ca Toronto .................................50 at Wellesley Station.................................. HR ......................... 50 Wellesley St. East ................................................................pureplaza.com Toronto .................................No. 1 Yorkville.................................................. HR ......................... 1 Yorkville Ave............................................................................pureplaza.com Toronto .................................Theatre District Residences......................... HR ......................... Adelaide & Widmer ..................................................................pureplaza.com Toronto .................................Bijou on Bloor ................................................. MR ......................... 2450 Bloor St. West..................................................................pureplaza.com Toronto .................................The Briar on Avenue .....................................CTH........................ 368 Briar Hill Ave. .....................................................................pureplaza.com Toronto .................................One Seventy .................................................... HR ......................... Spadina & Queen St. West ......................................................pureplaza.com Toronto .................................King West & Charlotte ................................... HR ......................... King St. West & Charlotte........................................................pureplaza.com Toronto .................................Forest Hill Private Residences..................... MR ........................ 2 Forest Hill Rd. ...................................................... foresthillresidences.com Toronto .................................Oscar Residences ........................................... MR ......................... 500 Dupont St. W. at Bathurst...................................oscarresidences.com Toronto .................................Whitehaus ........................................................ HR ......................... Yonge & Eglinton ...............................................lifetimedevelopments.com Toronto .................................Liberty Market Tower..................................... HR ......................... 171 East Liberty St. .............................................lifetimedevelopments.com Toronto .................................XO Condos....................................................... MR ......................... King & Dufferin...................................................lifetimedevelopments.com Toronto .................................The Georgian .................................................. MR ......................... Gerrard & Parliament.......................................................................stafford.ca Toronto .................................The Dupont ..................................................... MR ......................... Dupont & Ossington.........................................................................tridel.com Toronto .................................Bianca Condos................................................ MR ......................... 420 Dupont St ....................................................................................tridel.com Thornhill ...............................Royal Bayview ................................................ MR ......................... Bayview Ave. & Royal Orchard Blvd. ............................................tridel.com Toronto .................................LeftBank ............................................................ HR ......................... River St. & Dundas St. East..................................................... broccolini.com Toronto .................................Central Park Residences............................... HR ......................... Sheppard Ave. East & Leslie ................................. centralparktoronto.com Vaughan ................................Park Avenue Place 1 & 2 ............................... HR ......................... Jane St. & Rutherford Rd. ................................................................solmar.ca Vaughan ................................The Vincent...................................................... MR ......................... Jane St. & Hwy. 7 ........................................................................ thevincent.ca Vaughan ................................The Rose Hill Condos ................................... MR ......................... 177 Woodbridge Ave.......truecondos.com/capital-north-communities Vaughan ................................SXSW Condos .................................................. HR ......................... Islington & Steeles..........................................................primonthomes.com

MAPS

Locate properties using the map on the previous page

60 condolife magazine | Feb. 26–March 26, 2022

+

BUILDERS IF YOU WOULD LIKE TO INCLUDE YOUR PREVIEW REGISTRATION, NEW RELEASE OR SITE OPENING IN THIS FEATURE, JUST EMAIL THE DETAILS TO EDITORIAL@NEXTHOME.CA

HOT PROPERTIES | OUT OF TOWN

FIND YOUR NEXT HOME

The latest properties in the Out of Town Area to keep your eye on

Youngs Point

L l St

d

a ze

tR

r yal D Ro

sP L a kef ield Rd

A

Kenedon Dr

i ver

ng St

Selwyn Rd

St

ps

Pete r

e Rd

i ne w Hia

Line

Ward

d

atha

Hiawatha First Nation 36 s St

h

Paud n Mai St

Rid Oak

i

7

Co

i th L

ne

d ge R y Rid Vi m

do Mea

d wR

St W

6t

h

al

Ro b

o o

Pl

W

r

D

ge rid

Dr

d R

n

N

e

Audley

Av arch Mon

S

CARTOGRAPHY: MARKETMAPS.COM

Ontar i o St

Elgin

r

4t

St Mill

e Rd

od D tw o Wes

Co

n pho

St

Port Hope

Tele

Rd

S e St Hop King St

Wi l

Rd

a ri o

Blv cock d Pea

ine

Ont

Rd

d

ilton

Rd

R Marsh

St N

a kesh ore

ve Gro

Ham

401

vd y Bl Raple

y 1 r Fw oad artie on R ald-c cessi Con

2

Rd oria Vict

on MacD

L

t Trl mo

Andrew St

e Dal

h Rd

St E

Newcastle Bowmanville

rc Chu ish

C

ver Bea

Hamilton Twp Morr

ne h Li

4 oad

St S

d erly R

dams Dr tA

Line

Dale

M a s twoo

ad 5

Newtonville

M il l

W av

ve son A S im p tS rty S Libe

d

er

7th

n 5th Li e

Orono

St

t

Dr tle as

Ph

n Cav a

el Beth

Kendal

3

ion cess Con Ki n g St E

Dr ges Rd

Burnham S t N

Campbellcroft

d

Main

og S Scug

G

a

Gores Landing

dR

e Simco St N

L ond mm Dru

n Kee

t

e

28

o ion R c e ss Con

R sion nces

N

Ba

yc

Line

Bailieboro

d ka R aras G an

ty St

r St

nn

Base

ine e tt L

P oin

S

Co

St

e ro n

ch Mat

ay

35

ad n Ro essio onc

Bo

Quee n

Blvd

e rl

r

Lan

k St

D

Loc

Rd low dfel Goo

N

McG il

r s St

N

d an R agh M on

Dr allis

St

ve

k St P ar

Dr ood

W

enw

n Rd Dr visio t Rd nha m Tele sfor b ur Ben Ash

oge rmour RRd

Barn

ar

Rav

nd Rd

Rd W a llac

d

Q

g on

St

Line

Oak H l l Rd

d

Rd S t St o ne S

d

R Holt

S Ave

R Nash

Courtice

Bloo

Rd S

dS

S

Vi ct

rd

em Ch

Cam

Bewdley

d6 R oa

Clarington

t

Oshawa e Rd selin nline Tow

R Park

n Ritso

Rd kson y urra illip M

S ale

tE

t oe S Simc

ndale Carpe

e

de

g Snu Harbou r

E

llia Hi

y Rd 's Ba Fife

y Hw ada

h By roug bo

er R Port

Cir

Rd

Rd

Pky

L 6th

r Libe

rne S

Rd rtice Cou ls Rd Trul

N

Colbo

ond Dev

S

St ion cess Con

d kR

rn kho Buc

B ri c

Ta

Rd

Pontypool

ad 8 n Ro C o n cessio

R esda

Rd nton Tau

E Ave de tE elai King S 2 Ad E ol St Ath e Ave Oliv

Thic

ve S

t on S Gord

St S

dA oo

n Dr pma Cha

La

Rd

y garr

Rd

n St Joh

Beth

r

St E

e Rd nlin

Beatrice

Rd N

e St rvill

Rd

ibb

eD Ridg

Ol d

d gR go Rd cu rove le G Map

Rd

es

e Som

ard

St ons Gibb Rd N on ens

Stev

Ga r r ve

on Wils

Park

N Nichol A

To w

So la r

t l le r S

St

k Broc

es Ann

Dr

Ajax

r

tS tre S Cen

in D Lup

hs

St W

Holt

dN nR R it s o

Rd ton

unt Cr dmo Woo

Wa

2

rn Tho

Rd

ff it

d

Rollo

S das Dun

Bl v d ay

M

e ridg

Salem R d

ve

half

h i t b u r n St

Lake

es

o

R Rave croft

rw o Ha

Green

u Dr n Dh Gle

Hampton

dE lin R Con

Whitby tE St

cQu

oria

Har w

n St A n derso n St N e Gard Brock St

n yL

Rd nD Sulliva r

E

ion cess Con

d7 Roa ion cess Con

Rd N ony

St N d ter R ches Win ve an A Dugg

Rd E

ntr Cou

m Sale Cr

dA

Har m

win

d Cassels

Brooklin

Rd ine wnl

Bald

R burn Ash

W

d gR go

b

d on R

dE

7

Millbrook

10 Road ssion nce

Haydon

R den How

W s Rd mbu Colu

d ry R

St

Rd W

Ashburn

d ley R Braw

nda

ellar M cK

115 com Tele

cu

B ou

St

Rd ion o Divis rwo d R d Old N o Hw y ada Can7 s n Tra

St W King

Rd uff Bally d

S Old

St coe e2 og Lin

tes Coa

Rd W

o og T cug

Is

Si m

d ge R

Scug W d

M y rtle

Blackstock

er Larm

7A

St

7

e Rd Lin

Ed

Bethany

W num Sola Ma n

d on R gert

s/s ver

oe Rd Simc

Nestleton Station

do A

ly lse Wo

7

ne er Li uart

Glen

Rd

Caesarea

Rd

7A

Douro

Fraserville Cavan Cavan-Millbrook-North Monaghan R

ley Q Tap

rd Liffo

d

tville Jane

hr i s t o p h 's R d er

ill R Ski H

St C

Rd

Dr

Rd ant leas Mt P

e t Lin war Ste

Old

King

s

wood

Rd

Douro-Dummer

28

7 35

Fleet

iew

Lakefield

Peterborough

d

Rd

7 th

Bridgenorth

dW hill R Park e St rook Sh e rb St W wne sdo

Rd reb

Greenbank

St en ue

Omemee

W

rk R

idge

ly Pa Emi

St Simco e

Rd Island

R bow

Mississauga's Of Scugog Island

Port Perry

St King

d rse R Cou Golf

l

burn ash W

Rain

7

n gha ona NM

Janetville

dler Chan

s Can Tran

Rd eon

Rd age Cott

Rd sey

Rd

Sturg

n Rd

Ram

Scugog

Gri

o Mt H

r

12

Greenwood

d h ts R

Rd Post

Eldo Rd Tree

Seagrave

wn To

Heig

Rd

d ck R

Elm

n inso Rob

S

St S

S

Reaboro

r Rd

o te R

Little

ck 4-bro sion nces ck -bro 3 n ssio once

l Rd

Rd lam

say

e Peac

v dow Mea y Rd

se Ram

Line 8th

k Hil

V e ru

St S

Lindsay

Lind

rt Albe

St eline Ang

tW Kawartha Lakes ne S lbor

oi n

Yo u

a Smith-Ennismore-Lakefield Line

d

R

in Rd Brita

Ennismore

Fran

R Lake Pigeo n

a Opm

Whi

Sunderland

is Rd Enn

Line kee Yan

Little Britain

g Rd Crag

Rd

Cent i ne Rd

N Ave oria V ict

St N

St

Manilla

7

dN mR St V e r ula avid St D t P a ul S t

line

Hwy

Oakwood 46

e Ang

g r Brid nde

e Rd

Curve Lake First Nation 35 Curve Lake

e y Li n nberr

Rd

St S

a nad s Ca Tran

Rd len

B ay

d i el R Pen

ar G Ced

rney

n Rd Thu

Rd

36

Dunsford

d hts R

r D

Killa

d ee R

35

Eldo

Rd

oe Simc

law Laid

k

Tr Elm

Rd ay

Cambray

Brock

Cannington

br

St

Woodville alley en V Lind

Ca m

Woo

e Rd dvill

L

T a ra

Ire

e Av

erso n

Cameron

King

St

ne

Heig

And

e Rd evill Lorn

Park

Sturgeon Point

Rd

t oe S h G

Rd arm len

Surr e y Old

H

o kesh r

d eR

n

h Beac ong

Simc

t in Pale s

e Dr

La k

wy W

nexthome.ca 61

HOT PROPERTIES | SOUTHWESTERN ONTARIO AREA

KITCHENER–WATERLOO

Guelph

Waterloo

Milton

Kitchener

Cambridge

5

Brantford

Hamilto n 11

4

13

14 1 12

LONDON

15

London

62 condolife magazine | Feb. 26–March 26, 2022

2 3

Mississauga

20

17 18

Oakville 19

6

MAPS Match the map numbers with property listings on the following Hot Properties page

7

Burlington

23 10

16

21

St Catharines22

Niagara Falls

8

24

Welland

CARTOGRAPHY: MARKETMAPS.COM

9

nexthome.ca 63

HOT PROPERTIES

FIND YOUR NEXT HOME

The latest properties in the Southwestern Ontario Area to keep your eye on

Legend: HR = High Rise CTH = City Home MR = Mid Rise LO = Loft LR = Low Rise LW= Live Work PH = Penthouse RH = Row Home TH = Townhouse

MAP

LOCATION

SITE

TYPE

ADDRESS

CONTACT

1.

Ancaster ................................Meadowlands ............................................MR/CTH .................... 559 Garner Rd E ................................................................ elitemdgroup.com

2.

Brampton..............................DUO Condos ................................................... HR ......................... Malta Ave. & Steeles Ave. .........................................................duocondos.ca

3.

Brampton..............................Duo Condos at the Gateway....................... HR ......................... Steeles Ave. West & McMurchy Ave. South ..........duocondominiums.ca

4.

Brantford...............................Station Sixty Lofts .......................................... MR ......................... 60 Market St. S................................................................... elitemdgroup.com

5.

Burlington ............................Affinity Condos ............................................... MR ......................... Plains Rd. E. & Filmandale Rd. ............................... rosehavenhomes.com

6.

Burlington ............................Millcroft Towns .............................................CTH........................ Appleby Line & Taywood Dr. .............................branthavenmillcroft.com

7.

Burlington ............................Gallery Condos & Lofts ................................ HR ......................... Brant St. & James St. .............................................gallerycondominiums.ca

8.

Fonthill ..................................One Twenty Condos .....................................LR.......................... Rice Rd. & Highway 20 ................................................... mountainview.com

9.

Fonthill ..................................One Fonthill Condominium Collection .. MR ......................... Rice Rd .......................................................................onefonthillcondos.com

10.

Grimsby.................................Odyssey Condos & Towns ..................... HR/CTH .................... Windward Dr. & N Service Rd. ................................ rosehvaenhomes.com

11.

Hamilton ...............................1 Jarvis .............................................................. HR ......................... 1 Jarvis................................................................................................1jarvis.com

12.

Hamilton ...............................Electric Avenue ......................................... HR/CTH .................... Upper James & Rymal Rd............................................... elitemdgroup.com

13.

Hamilton ...............................KiWi Condos ................................................... HR ......................... 212 King William St................................................................kiwicondos.com

14.

Hamilton ...............................Steeltown City Co. ...................................MR/CTH .................... Fennell Ave. E. & Upper Ottawa St. .............................. elitemdgroup.com

15.

London ..................................White Oaks Urban Towns ...........................CTH........................ London ................................................................................ elitemdgroup.com

16.

Niagara Region ...................Lusso Urban Towns ......................................CTH........................ Martindale Rd. & Grapeview Dr. .............................. lucchettahomes.com

17.

Oakville .................................5 North .............................................................. MR ......................... 1388 Dundas St. W. ...................................................... mattamyhomes.com

18.

Oakville .................................Synergy ............................................................ MR ......................... McCraney St. E. & Sixth Line ..............................................branthaven.com

19.

Oakville .................................The Randall Residences ............................... MR ......................... Randall St. & Lakeshore Rd. E. .............................. randallresidences.com

20.

Oakville .................................Upper West Side at Oakvillage .................. MR ......................... 351 Dundas St. E. ................................................. upperwestsidecondos.ca

21.

St. Catharines.......................88 James .......................................................... HR ......................... 88 James ............................................................................ elitemdgroup.com

22.

St. Catharines.......................St. Kitt Urban Towns .....................................CTH........................ Oakdale Avenue & Merritt Street ...............................stkittsurbantowns.ca

23.

Stoney Creek ......................Casa Di Torre .................................................. MR ......................... 980 Queenston Rd................................................................branthaven.com

24.

Welland .................................L’eau ...................................................................LR.......................... 1 Albert St................................................................. info@elitemdgroup.com

MAPS

Locate properties using the map on the previous page

64 condolife magazine | Feb. 26–March 26, 2022

+

BUILDERS IF YOU WOULD LIKE TO INCLUDE YOUR PREVIEW REGISTRATION, NEW RELEASE OR SITE OPENING IN THIS FEATURE, JUST EMAIL THE DETAILS TO EDITORIAL@NEXTHOME.CA

ADVERTISER INDEX — Find ads easily inside this edition 52 Pick up Inc. ........................................................................... 1 9 Access Storage .......................................................................... 2 1 Black & Decker ................................................................... 23, 65 Bristol Place – Solmar .........................................................3, 57 Central Park – Amexon ............................................................. 4 Cullen’s ........................................................................................4 6

Enter our Sign-Up to Win Contest!

BLACK+DECKER™ Prize Value: $149.99

Dawes, The – Marlin Spring ................................................... 1 5 Duo - National Homes / Brixen.........................................5, 56 Dupont, The – Tridel.................................................................. 9 Express 2 – Malibu .............................................................11, 56 Fairmont Royal York ................................................................. 2 1 Focal Point.................................................................................. 2 1 Gallery Towers - Remington Group ...............................57, 68 Georgian, The – Stafford ....................................................2, 56 Gladstone ................................................................................... 1 9 Graydon Logistics ..................................................................... 2 1 Highway of Heros ..................................................................... 5 2 Home + Style Studio Tour ...................................................... 2 1 IDRC ............................................................................................. 2 1 Indigo........................................................................................... 2 1 McOuat Partnership .................................................................2 0 Montana Steele.......................................................................... 1 6

BLACK+DECKER™ 20V MAX* LITHIUM ION DRILL/ DRIVER + 68 PIECE PROJECT KIT

MRKT Alexandra Park – Tridel ............................................... 5 7 NextHome .................................................................................. 2 1 NKBA ............................................................................................ 2 3 Reno & Decor ............................................................................ 2 1 Trees for Life............................................................................... 6 7

Enter Online

XO2 – Lifetime / Pinedale .......................................... 12, 13, 56 BUILDERS

Amexon ......................................................................................... 4 Brixen .......................................................................................5, 56

• Go to renoanddecor.com/contests or scan the QR

Lifetime........................................................................... 12, 13, 56

• Select this contest within the listing and click Enter to Win.

Malibu ....................................................................................11, 56

For full contest details & rules visit the link above.

Marlin Spring .............................................................................. 1 5 National Homes ....................................................................5, 56 Pinedale.......................................................................... 12, 13, 56 Remington Group ...............................................................57, 68 Solmar .....................................................................................3, 57 Stafford ....................................................................................2, 56 Tridel ........................................................................................9, 57

www.blackanddecker.ca |

@blackanddeckerca nexthome.ca 65

ADVICE | INDUSTRY REPORT

BUYING PRE-CONSTRUCTION? RESEARCH AND PREPARATION ARE ESSENTIAL

DAVE WILKES

When a development project is cancelled, it attracts media attention.

While builders and developers do everything they can to avoid disappointing their customers, the reality is that project cancellations sometimes do occur, and for good reasons. Purchasing a preconstruction unit is different from buying an already-built unit, and consumers interested in preconstruction units must inform themselves about disclosures and protections before they buy.

Our industry builds hundreds of housing projects annually in the GTA, to deliver approximately 40,000 new housing units. Cancellations are the exception. According to Altus Group, which monitors new home sales data, since 2010, about 148 projects in total have not gone forward – an average of 13.5 projects per year.

Consumers need to understand that pre-construction units, which come at favourable prices, also come with the risk of cancellation.

Prospective homeowners who are not comfortable with the risk should look at already-built units or resale homes.

It’s important to understand, though, that those usually don’t come with the same advantageous prices.

There are various reasons projects get cancelled. In some cases, not enough units in a project are sold to allow the project to proceed. In 66 condolife magazine | Feb. 26–March 26, 2022

others, the builder or developer is not able to secure financing or the projected costs of a project escalate to a point where it is not financially viable. And some projects encounter approval delays, or do not get approved at all.

These unfortunate and unlikely contingencies are detailed in the enhanced disclosure section of the Tarion Addendum, the standard form attached to the purchase and sales agreement for pre-construction sales.

The agreement document also sets out payment schedules, occupancy dates and grounds for termination.

Buyers of pre-construction units should go over their purchase

agreement carefully and have it reviewed by a lawyer to ensure they understand all the conditions and any potential risks.

Dave Wilkes is President and CEO of the Building Industry and Land Development Association (BILD), the voice of the homebuilding, land development and professional renovation industry in the GTA. For the latest industry news and new home data, follow BILD on Twitter, @bildgta or visit bildgta.ca.

+MORE CONTENT ONLINE nexthome.ca

The world’s most advanced

breathing machine

Introducing Trees. This once-in-a-million-year innovation doesn’t just clean the air we breathe, it has powerful Earth-cooling abilities and can improve our mental health. But in so many places, nature’s inventory is quickly running out.

You can help turn things around. Donate now and join us in increasing the tree canopy in communities across Canada at TreesForLife.ca

Thank you to our sponsors and supporters.

CULLEN’S

ACKMAN F O U N D A T I O N