GTA Condo Life - August 13, 2022

Greater Toronto’s COMPLETE CONDO GUIDE

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Greater Toronto Area Aug. 13–Sept. 10, 2022

BETTER LAND USE PLANNING KEY TO HOUSING SUPPLY

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AUG. 13–SEPT. 10, 2022

CONTENTS COVER STORY

22 A TRIBUTE TO NEW HEIGHTS A TRIBUTE TO HOME

6 condolife magazine | Aug. 13–Sept. 10, 2022

58

Maps & Amenity Charts

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

COLUMNS

26 The Economist An informed land use planning process is critical to solving Canada’s housing problem

28

30

Stat Chat What do lower resale prices mean for new condo buyers?

29 Western View Building the west end brings jobs and economic development

32

Home Realty Putting rising interest rates into perspective

34 Personal Finance How to budget for a new home purchase

36 Legally Speaking Preparing to buy in uncertain times

37

Realty Insider Thinking of transitioning from homeowner to Investor? Here’s what you need to know

38

Real Insight A look at the summer housing market and beyond

39 Real Estate Pro Deeper research shows the GTA condo market is doing just fine

44 New home communities 22

Cover Story: Tribute Communities Bringing its iconic architecture and sophisticated designs to east GTA

30 Lusso Urban Towns Niagara’s newest hip community by Lucchetta Homes

66 Industry Report Providing future residents with different housing choices is good planning

INTERIORS DEPARTMENTS

43 Cover

8

44 Decor

Editor’s Note Have we corrected already?

10

Contributors

12

Condo Life Online

14

In the Spotlight GTA new home market continues quiet in June; more news on pages 16, 17, and 18

46 Trend Expert 48 Big Style 50 Home Finds 54 At Home

20 Inside The GTA 40 Neighbourhood Watch Oshawa and Whitby

nexthome.ca 7

EDITOR’S NOTE

HAVE WE CORRECTED ALREADY?

WAYNE KARL EDITOR-IN-CHIEF Condo Life Magazine

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

+ get social 8

condolife magazine | Aug. 13–Sept. 10, 2022

As we have been cautioning in these last few issues, real estate markets in the GTA and elsewhere in Ontario are going through some more challenging times.

Note we didn’t say tough.

It would be folly to try to say all is rosy, given the number of market stats that show sales are off and prices are down. But as we often clarify in Condo Life – and some of our expert columnists in this and previous issues – those facts do not necessarily translate to bad times.

Indeed, routine double-digit price growth is not sustainable, or arguably healthy, over the long term, and it presents an entry barrier for many prospective new-home buyers.

RBC Economics has gone as far as to label the current market a “correction,” which normally might spell trouble, citing rising interest rates as the primary catalyst. But in this case, and in certain markets and home types, it could also mean opportunity.

“Canada’s least affordable markets, Vancouver and Toronto, and their surrounding regions, are most at risk in light of their excessively stretched affordability and outsized price gains during the pandemic,” RBC says in its latest report.

But then it says, “condos in the city of Toronto are likely to remain relatively more resilient,” noting that pricing may be affected more in some 905 areas, where value appreciation soared during the pandemic.

Meanwhile, the Canadian Real Estate Association (CREA) says home sales were down again in June, but the rates of decline are getting smaller. So, if the housing market actually was in a correction, per RBC, it’s fair to wonder if the worst may be over, per CREA. Until inflation subsides and interest rates stabilize, some consumers may take a more cautious approach with their homebuying plans.

But these conditions represent short-term challenges. The long-term fundamentals of the GTA – low unemployment, high job vacancies, rising incomes, record immigration, and not enough housing – are not about to change.

Prospective homebuyers will likely adjust – psychologically and financially – to the economic uncertainty and higher borrowing costs. And when that happens, the market may well return to its pre-correction performance.

In the meantime, this pause could be just the window of opportunity you’ve been waiting for.

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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

WESTERN VIEW | MIKE COLLINS-WILLIAMS

Michael Rosset

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

EDITOR-IN-CHIEF – NATIONAL REAL ESTATE

Susan Legge susan.legge@nexthome.ca

EDITOR-IN-CHIEF – GREATER TORONTO AREA

HOME REALTY | DEBBIE COSIC 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

MICHAEL KLASSEN | REALTY INSIDER Michael Klassen is the Broker of Record, Eleven Eleven Real Estate Services.

Based in Toronto, this firm is a residential pre-construction listing brokerage.

1111realty.ca

Wayne Karl wayne.karl@nexthome.ca MANAGING EDITOR

Rise Levy rise.levy@nexthome.ca CONTRIBUTORS

Jesse Abrams, Mike Collins-Williams, Debbie Cosic, Sara Duck, Bilha Kangethe, Michael Klassen, Barbara Lawlor, Linda Mazur, Ben Myers, Lisa Rogers, Jayson Schwarz, Ted Tsiakopoulos, Dave Wilkes SENIOR VICE-PRESIDENT, SALES, NEXTHOME

Hope McLarnon 416.708.7987, hope.mclarnon@nexthome.ca

REAL ESTATE PRO | BARBARA LAWLOR Barbara Lawlor is President and CEO of Baker Real Estate Inc., and an indemand 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 DECOR | LINDA MAZUR Linda Mazur is an award-winning designer and Principal of Linda Mazur Design Group. With almost two decades of experience, this multi-disciplinary design firm is known for creating relaxed, stylish spaces and full-scale design-builds throughout the GTA and Canada. lindamazurdesign.com @LindaMazurGroup

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

DIRECTOR OF SALES, ONTARIO, NEXTHOME

Natalie Chin 416.881.4288, natalie.chin@nexthome.ca SENIOR MEDIA CONSULTANTS

Amanda Bell 416.830.2911, amanda.bell@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

Gary Chilvers, Vi Nguyen

HOME SHOW MANAGER & NEWSPAPER CIRCULATION – GTA

Josh Rosset DISTRIBUTION

distributionteam@nexthome.ca ACCOUNTING INQUIRIES

BIG STYLE | LISA ROGERS

accountingteam@nexthome.ca

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

DIRECTOR OF PRINT MEDIA VICE-PRESIDENT, PRODUCTION – GTA

Lisa Kelly

PRODUCTION MANAGER – GTA

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.

Yvonne Poon

GRAPHIC DESIGNER & ASSISTANT MANAGER

Alicesa Pullan

GRAPHIC DESIGNER & PRE-PRESS COORDINATOR

Hannah Yarkony GRAPHIC DESIGNERS

THE ECONOMIST | TED TSIAKOPOULOS Ted Tsiakopoulos is a professional economist, author and sought-after speaker with more than 25 years of experience analyzing housing and financial markets. He has also worked as an investment counsellor on Bay Street in Toronto. ttsiakop@cmhc.ca or LinkedIn/Ted Tsiakopoulos.

BILD 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

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In the spotlIght

GTA NEW HOME MARKET conTinues QuieT in JuNE GTA new home sales continued to ease in June, the Building Industry and Land Development Association (BILD) reports.

Total June new home sales of 1,694 units were down 56 per cent from June 2021, and 52 per cent below the 10-year average, according to Altus Group, BILD’s official source for new home market intelligence.

Sales of new condominium apartments, including units in low-, medium- and highrise buildings, stacked townhouses and loft units, with 1,519 units sold, were down 44 per cent from June 2021, and 36 per cent below the 10-year average.

Single-family homes, including detached, linked and semi-detached houses and townhouses (excluding stacked townhouses), accounted for 175 units sold, down 85 per cent from last June and 85 per cent below the 10-year average.

“While many prospective homebuyers in the GTA are delaying purchasing the homes they need in the midst of economic uncertainty, our region’s fundamental challenges around housing supply remain unresolved,” says Dave Wilkes, BILD president and CEO. “Shorter-term demandside economic conditions and inflationary pressures cool demand but increase the costs of new builds simultaneously. This will continue to impact overall supply. Now is the

The benchmark price for new condominium apartments in June was $1.18 million, up 12.4 per cent over the last 12 months, while new singlefamily homes rose 31.2 per cent to $1.84 million.

Total new home remaining inventory increased compared to the previous month, to 11,639 units, comprised of 9,717 condominium apartment units and 1,922 singlefamily lots, representing 3.5 months and 2.7 months of inventory respectively. A balanced market would have nine to 12 months of inventory.

time for bold decisions by all levels of government to ensure we provide the housing supply and choice future generations of GTA residents will need.”

“New home sales numbers for June reinforced the expected easing of sales from last year’s exceptionally fast pace,” adds Edward Jegg, research manager at Altus Group. “With interest rates continuing to rise, high inflation, affordability pressures and general economic uncertainty, many buyers are adopting a wait-and-see attitude that is expected to run through at least the summer months.”

JUNE NEw homE salEs by mUNicipality highrise

lowrise

total

Region

2022

2021

2020

2022

2021

2020

2022

2021

2020

Durham

50

177

23

37

425

298

87

602

321

halton

91

700

67

17

141

279

108

841

346

peel

619

489

142

42

123

142

661

612

284

toronto

717

861

401

0

13

4

717

874

405

york

42

486

99

79

428

455

121

914

554

1,519 2,713

732

1,694

3,843

1,910

3,213

Gta

6,556 2,642 Source: AltuS Group

14

condolife magazine | Aug. 13–Sept. 10, 2022

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IN THE SPOTLIGHT

GOVERNMENT NEEDS TO ADDRESS AFFORDABILITY AND BOOST HOUSING SUPPLY: TRREB The slowing market conditions continued in July, as the 4,912 home sales reported through the Toronto Regional Real Estate Board (TRREB) MLS System in July 2022 represented a 47-per-cent drop compared to July 2021. Following the regular seasonal trend, sales were also down compared to June. New listings also declined on a year-over-year basis in July, albeit down by a more moderate four per cent.

Market conditions remained much more balanced in July 2022 compared to a year earlier. As buyers continued to benefit from more choice, the annual rate of price growth has moderated. The MLS Home Price Index (HPI) Composite Benchmark was up by 12.9 per cent year-over-year. The average selling price was up by 1.2 per cent compared to July 2021 to $1.07 million. Less expensive home types, including condos, experienced stronger rates of price growth as more buyers turned to these segments to help mitigate the impact of higher borrowing costs.

“The Greater Toronto Area (GTA) population continues to grow and tight labour market conditions will drive this growth moving forward,” says TRREB Chief Market Analyst

Jason Mercer. “Despite more balanced market conditions resulting from rapidly increasing mortgage rates, policymakers must continue to take action to boost housing supply to account for long-term population growth. TRREB has put realistic solutions on the table to address the existing housing affordability challenges. With savings high and the unemployment rate still low, homebuyers will eventually account for higher borrowing costs. When they do, we want to have an adequate pipeline of supply in place or market conditions will tighten up again.”

TRREB is also calling on all levels of government to reassess and clarify policies related to mortgage lending and housing development.

“Many GTA households intend on purchasing a home in the future, but there is currently uncertainty about where the market is headed,” says TRREB CEO John DiMichele.

“Policymakers could help allay some of this uncertainty. As higher borrowing costs impact housing markets, TRREB maintains that the OSFI mortgage stress test should be reviewed in the current environment.

Consumers looking to renew their existing mortgages with a different lender should not be subject to an additional stress test burden beyond what they would face with their existing lender.”

With significant increases to lending rates in a short period, there has been a shift in consumer sentiment, but not market fundamentals TRREB says.

“The federal government has a responsibility to not only maintain confidence in the financial system, but to instill confidence in homeowners that they will be able to stay in their homes despite rising mortgage costs,” says TRREB President Kevin Crigger. “Longer mortgage amortization periods of up to 40 years on renewals and switches should be explored. With the benefit of hindsight, it appears that the Bank of Canada’s rate increases started too late. Now we are dealing with outsized increases to curb generationally high inflation.

“The provincial government, elected on a platform of bolstering housing supply and increasing housing affordability, must take swift action as it relates to significantly rising municipal government fees across the GTA, such as development charges which are largely borne by home buyers,” Crigger adds. “City of Toronto Council should reflect on its recently approved 46-per-cent increase to development charges, bringing the average cost of all government charges and fees to an astounding $350,000-plus for every new detached house and over $180,000 for a new condominium.”

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

The One Stop Shop for Builder Storytelling mcouatpartnership.com

416

905

Total

$1.51M (-7.3)

$1.32M (-1.9)

$1.36M (-3.1)

$1.26M (5.1)

$963,994 (2.2)

$1.07M (4.9)

Townhome

$963,545 (7.6)

$884,533 (5.5)

$903,899 (6.3)

Condo

$744,092 (4.3)

$659,820 (11.9)

$719,273 (6.9)

Detached Semi-detached

SOURCE: TRREB

16 condolife magazine | Aug. 13–Sept. 10, 2022

IN THE SPOTLIGHT

GTA MARKETS HOLDING THEIR OWN AS HOME PRICE GROWTH SLOWS ACROSS CANADA Home price growth across Canada is slowing due to short-term challenges, but GTA markets are still among the best performing in the country.

According to the Royal LePage House Price Survey for the second quarter of 2022, the aggregate price of a home in Canada increased 12.1 per cent year-over-year to $815,000. On a quarterly basis, the aggregate price of a home in Canada decreased 4.9 per cent in the second quarter, after reaching record year-over-year highs in Q1. This is reflective of softening home prices in markets that saw exceptional price growth during the pandemic.

The second quarter of 2022 is the first quarter in more than three years (since Q1 2019) to post a quarter-over-quarter decline in home prices.

Royal LePage is forecasting that the aggregate price of a home in Canada will increase 5.0 per cent in the fourth quarter of 2022, compared to the same quarter last year. The forecast has been revised downward from the previous quarter following more aggressive than expected interest rate hikes by the Bank of Canada, resulting in an expected temporary drop in demand in parts of southern Ontario and British Columbia.

“Some of the heat that was driving the market cooled during the quarter, as rising interest rates, coupled with economic uncertainty, undermined consumer confidence and pushed buyers to the sidelines,” says Phil Soper, president and CEO of Royal LePage. “We have significantly reduced our outlook for 2022. However, home prices are still forecast to end the year higher than 2021 and well above prepandemic norms.

“Following record price gains across the country, numerous markets in southern Ontario and parts of Greater Vancouver – specifically those that saw some of the highest price appreciation over the last two years – experienced a second quarter decline.

I expect this highly unusual downward

movement in home values will be short-lived, as the country’s chronic housing shortage has not been resolved.”

Soper adds that barring a sharp increase in the inventory of properties for sale, which seems unlikely given our exceptionally low level of unemployment, growing population and low rate of mortgage default, the second quarter produced most of the price declines expected in this cycle.

The national median price of a single-family detached home rose 12.4 per cent year-over-year to $859,500, according to the Royal LePage National House Price Composite. The median price of a condo increased 12.2 per cent to $589,000.

“We don’t expect to see much movement in housing values through the balance of the year,” says Soper.

“Canada is experiencing strong growth in household formation, so positive economic news, such as a signal that rates have reached a level where inflation can be managed, should trigger a return to rising property values. The small percentage of consumers who purchased properties at 2022’s February/March peak will have seen a short-term decline in the value of their homes, but there is little doubt they will soon make up that lost ground.”

cent to $1.4 million, while the median price of a condominium increased 17.3 per cent year-over-year to $738,800 in the second quarter of 2022.

“The city of Toronto and the greater region, along with many secondary cities in the Golden Horseshoe, have seen housing demand slow in recent months as many buyers take a step back in an attempt to time the market,” says Karen Yolevski, chief operating officer, Royal LePage Real Estate Services Ltd. Yolevski notes that the softening market is providing a rare opportunity to first-time buyers who have been unable to transact over the last two years. It’s also creating an opportunity for renters who are considering buying, as purchasing has become slightly more attractive.

In Toronto, the aggregate price of a home increased 11.7 per cent year-over-year to $1.2 million in the second quarter of 2022. Single-family detached homes increased 9.3 per cent to $1.6 million, while condos increased 6.8 per cent to $742,600.

Royal LePage is forecasting that the aggregate price of a home in the GTA will increase 3.0 per cent in the fourth quarter of 2022, compared to the same quarter last year. The previous forecast has been revised downward as a result of softening demand due to aggressive interest rate hikes by the Bank of Canada.

GREATER TORONTO AREA

The aggregate price of a home in the GTA increased 12.8 per cent year-over-year to $1.16 million in the second quarter of 2022. On a quarterly basis, the aggregate price of a home in the GTA decreased 8.1 per cent in the second quarter, after reaching record year-over-year highs in Q1. This is the first quarterly decline in the region since Q1 of 2018.

Broken out by housing type, the median price of a single-family detached home increased 10.5 per nexthome.ca 17

IN THE SPOTLIGHT

HOMEBUILDING INDUSTRY RELEASES

FIVE-POINT PLAN

TO ADDRESS HOUSING CRISIS IN ONTARIO The Ontario Home Builders’ Association (OHBA) and the Building Industry and Land Development Association (BILD) has released their top policy recommendations in a five-point plan for consideration by the provincial government for its new mandate. These priorities are based on the February 2022 recommendations of the Housing Affordability Task Force, and forwardthinking initiatives intended to lower housing costs and increase housing supply for Ontario residents.

“Ontario has a housing shortage, and the lack of supply is driving up housing costs across the province,” says Luca Bucci, CEO of the OHBA. “Ontario needs to build at least 1.5 million homes over the next 10 years to restore affordable housing prices.

The five points that the industry is releasing present a bold vision on how to get more housing built quickly, so that every Ontarian can afford a place to call home. We call on the provincial government to continue to play a strong leadership role in defining this change and to work with our industry to implement these recommendations.”

Ontario’s homebuilding industry says it understands there is no silver

18 condolife magazine | Aug. 13–Sept. 10, 2022

bullet solution to address the shortage of housing supply and the affordability challenges that come with it. BILD and OHBA are recommending a suite of changes to speed the delivery of new homes, add supply and bring balance to the market. These recommendations include: 1. Making homes more affordable by speeding up approval times and eliminating red tape. Each month of delay in approvals adds thousands of dollars to the cost of a new home.

2. Adding certainty to the cost of building a new home by addressing out-of-control development fees.

Already, fees and taxes from all levels of government account for up to 25 per cent of the cost of a new home.

3. Making new lands available to build new housing and support

future growth, as home supply and costs are highly dependent on land availability.

4. Laying the infrastructure groundwork for future growth by ensuring servicing and transportation infrastructure are prioritized.

5. Taking the politics out of planning to ensure that local decision making does not undermine the provision of new housing.

“The evidence is clear, solutions have been identified, consensus has been achieved – now it’s time for action,” says Dave Wilkes, president and CEO of BILD. “Our industry’s five-point plan outlines the changes necessary to ensure that new-home owners can afford to live in the GTA and that our region’s economy prospers in the long term.”

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WHERE MORTGAGE RATES ARE HEADED IN 2021

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

#InsidetheGTA

by SUSAN LEGGE

GTA

A GROUNDBREAKING DAY FOR THE CAPITOL RESIDENCES

MADISON GROUP recently hosted the official ground-breaking ceremony for The Capitol Residences at the corner of Castlefield and Duplex avenues in Toronto.

Josh Zagdanski, vice-president, highrise, at The Madison Group, along with Alessandro Munge, founder and design director of Studio Munge and Toronto City Councillor Mike Colle spoke about the project and the passion it takes to conceptualize and bring new life to the historic Capitol Theatre.

The famed theatre will be transformed into a stunning 14-storey residence, while preserving the original marquee and facade at the base three floors. madisongroup.ca

Fashion and fun at Friday Harbour The resort community of Friday Harbour in Innisfil announced the return of its signature summer event highlighting Canada’s top fashion talent spanning two weekends – Aug. 12 to 14 and 19 to 21.

Set on the stunning shores of Lake Simcoe, the Pier will transform into an open-air fashion runway featuring a lineup of designers and brands curated by the Canadian Arts & Fashion Awards (CAFA).

20 condolife magazine | Aug. 13–Sept. 10, 2022

The Fashion Collective Series is open to the public with complimentary programming and advanced ticketed options which include preferred runway fashion show seating and an after-party at Friday Harbour’s Beach Club waterfront restaurant. Visitors to Friday Harbour can also enjoy the resort’s signature attractions; the Nature Preserve, The Nest golf course, marina, and a collection of restaurants and retail on the Promenade. fridayharbour.com

Merge Spaces is open for business

Revitalization of community recreation centre begins Toronto Deputy Mayor Ana Bailão was recently joined by Rafael Lazar, chief executive officer for site developer Almadev (formerly ELAD) to announce details for a revitalized Wallace Emerson community recreation centre and park and a new childcare centre.

Construction of the new facility and phase one of park improvements on portions of the site have already begun, as part of the Reimagine Galleria Development plan.

Construction is expected to be completed in 2025. The revitalization project will double the size of the current recreation centre to

LCH Developments has opened a creative community hub called Merge Spaces in the southwest Scarborough community of Cliffside Village – and it looks amazing.

The first of its kind in the area, Merge Spaces rents private and shared workspaces to freelancers, entrepreneurs and businesses so they can connect, collaborate and share amenities. The social experience includes regular events programming for creatives, entrepreneurs, and professionals. mergespaces.com

approximately 89,500 sq. ft.

Phase One of the Galleria on the Park master-planned community is comprised of mixed-use towers, Galleria 01 and 02, which broke ground in 2020. These towers include 150 affordable rental units, condominium residences and 40,000 sq. ft. of commercial space.

Complementing the implementation of downtown Toronto’s largest community centre, this exciting development comes on the heels the next phase of Galleria, Galleria III, which has officially broken ground as well. galleriaonthepark.com

RioCan Living’s smart residential project, Verge Condominiums, bringing new mixed-use development to The Queensway RioCan Living celebrated the ground-breaking for Verge Condominiums with an on-site ceremony, less than a year after successfully bringing the project to market.

Conveniently located at the southwest corner of Islington

Avenue and The Queensway, Verge is transforming a collection of three single-level retail stores into two mixed-use buildings, with prominent retail at grade, a new public park, adding vibrancy and animation along the streetscape. The 10-storey building on the west side of the

site launched last summer and was quickly followed by the release of the 17-storey East Tower at the corner of the property. To date, all released inventory has sold out, with the remaining residences set to hit the market in 2023. vergecondos.com nexthome.ca 21

Cover Story

A TRIBUTE TO NEW HEIGHTS

A TRIBUTE TO HOME Founded almost 40 years ago, Tribute Communities is an awardwinning builder which that has built more than 35,000 new homes and condominiums across southern Ontario. The company’s industryleading reputation has been earned through its architecturally distinct and exquisitely designed homes and condominiums – ideally situated among the very finest streetscapes and communities. From the transformative Windfields Farms and U.C. condo communities in Oshawa, to the visionary Imagination community in Ajax, The Village of Brooklin in 22 condolife magazine | Aug. 13–Sept. 10, 2022

Whitby, and landmark new VuPoint condominium in Pickering, Tribute has been fostering a vibrant urban philosophy across the east for years.

Iconic architecture, sophisticated designs and inspired lifestyle amenities culminate in some of the area’s finest and most in-demand places to call home. It’s appropriate to say that Tribute Communities has been integral to the development of the entire Durham Region. Whether living in one of Tribute’s visionary home communities or distinctive condominiums, purchasers can be sure of one thing: Their residence

has been built by passionate people who deeply care about bringing dreams to life.

THE FUTURE OF OSHAWA

Opening for sale in 2013, the first iteration of Oshawa’s U.C. community began as a sizable undertaking of more than 2,000 lowrise residences.

Now, the U.C. community represents Oshawa’s total transformation into one of southern Ontario’s most prolific urban hubs. Its ideal location places it just moments from landmark institutions such as Ontario Tech University and Durham College,

All renderings Are Artist’s concept

the city’s best retail opportunities, including the brand new RioCan Windfields Plaza and Costco, the diverse eateries of Simcoe Street, cherished protected greenspaces and conservation areas, ideal local and regional transit, and convenient access to Hwys. 401, 407 and 412.

Tribute Communities, in partnership with RioCan Living, continues to build upon this foundation of excellence with U.C. Tower 3 — the newest extension of the acclaimed master-planned community. Sharing a podium with its rapidly sold-out predecessor, U.C. Tower 2, this new addition has been meticulously designed to appeal to a wide range of homebuyers. Offering a medley of suite designs ideal for both families and young professionals, world-class amenity spaces, refined features, upscale finishes and so much more, U.C. Tower 3 has truly become Oshawa’s most anticipated condominium opportunity yet.

Residents will enjoy a comprehensive living experience with more than 40,000 sq. ft. of amenity spaces, such as an expansive fitness centre, outdoor terrace, dedicated yoga and meditation areas, private party and dining rooms, an innovative tech/work lounge, beautifully appointed guest suites for visitors, a premium pet spa, and so much more.

Better still, residents will embrace the pristine greenspaces and trails embedded throughout the entire U.C. community. For everything one could want, Tribute Communities has gone above and beyond to create what is nothing less than the finest condominium community in Oshawa.

highest achievement is seldom straightforward. It takes courage, fortitude, passion, persistence, and just a little luck. But in the end, it becomes a lasting monument amid an ever-changing skyline, and a testament to the impact of the city’s most dedicated homebuilder.

Today, VuPoint evokes the unbridled potential of Pickering.

The three towers of VuPoint form the basis from which an entire master-plan revolves. In downtown Pickering’s most ideal location, it puts one’s whole world within reach. Residents will take pleasure in unrivaled access to Ontario’s fastest transit network, connecting them to the best destinations across southern Ontario.

Great value in the GTA. Suites from the $500,000s. Learn more about U.C. Tower 3 at uctower2.ca.

PICKERING FROM A NEW POINT OF VIEW

The city’s plan of perfection started with an idea. One singular notion from which true greatness blossomed. The simple thought of creating Pickering’s best lifestyle experience. But reaching the city’s nexthome.ca 23

With optimal access to GO Transit, Durham Region Transit, Hwys.

401, 407 ETR and 2, get as far as Mississauga in less than 45 minutes.

It’s here where VuPoint connects residents to the urban amenities, lifestyle experiences and waterfront bliss Pickering is celebrated for.

Suites in the all-new Vu Collection reach unseen heights from the top six floors of this new local landmark.

These stunning suites soar above

24

condolife magazine | Aug. 13–Sept. 10, 2022

the skyline to offer unimpeded views of the city’s most prized feature – Lake Ontario. A true urban oasis, Pickering’s waterfront district has Durham’s best lakeside recreation opportunities. From peaceful picnics overlooking Frenchman’s Bay to thrilling kite boarding and surfing, or strolls through sandy shorelines, VuPoint puts residents within walking distance of all the best Lake Ontario has to offer.

Moreover, VuPoint is surrounded by more than 220 hectares of open space and national parks. A wonderous landscape stretching from the shores of Lake Ontario up through Pickering’s dense urban areas, and out to the city’s farthest reaches. All of which is in view with this new collection.

Vu Collection suites now available from the high $500,000s. Learn more at vupointcondos.ca.

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ADVICE | THE ECONOMIST

AN INFORMED LAND USE PLANNING PROCESS IS CRITICAL TO SOLVING CANADA’S

HOUSING PROBLEM TED TSIAKOPOULOS

To suggest there is a silver bullet that solves Canada’s housing supply problem is to oversimplify a complex problem. Turning a blind eye to the demand side of the market is also not prudent. In fact, over the last decade, demand factors such as low interest rates, employment growth and strong in-migration explained 26 condolife magazine | Aug. 13–Sept. 10, 2022

about one-third of the increase in Ontario home prices.

Canada has increased its immigration targets in recent years, as part of its plan to continue to grow the Canadian economy, and this requires more housing for newcomers.

Housing demand was stoked further by monetary and fiscal stimulus following the COVID-19 outbreak. A well-functioning housing market also requires that supply grow in a timely way in response to increased demand and this was largely absent prior to the recent pandemic.

A recent report from Canada Mortgage and Housing Corp.

(CMHC), suggests that an additional 3.5 million homes will be needed by 2030, over and above what is already produced annually, to restore housing affordability in Canada. More than 1.8 million of those additional homes will need to be built in Ontario. The most important questions are how we can get there, and what mix of housing will be needed. Finding the answers to these questions requires cities and regions to embrace, among other things, new analytical

endorsed in a recent economist association event in Toronto, such coordination can come in the form of new analytical techniques that could inform zoning changes, and infrastructure investments.

CMHC is working with provincial, municipal and non-government partners to build and refine urban land-use models such as UrbanSim, to provide urban decision-makers, and the citizens they serve, with improved access to urban market simulation tools based on timely, reliable data. The models seek to understand which submarkets are most in need of housing, and how shifts in broader land use, zoning, transportation, economic and migration policy can get us closer to meeting housing needs. The dialogue, data and simulation tools created from this work will contribute to better housing supply, a more stable housing market, and more inclusive and environmentally sustainable urban regions across Canada.

DENSIFYING YELLOWBELT COMMUNITIES IN TORONTO – A KEY PIECE OF THE PUZZLE

approaches to help inform land use and transportation planning.

RESTORING ORDER WITHOUT DESIGN

Alan Bertaud, a world-renowned urban planner, suggested in his 2018 book, Order Without Design: How Markets Shape Cities, that more coordination and collaboration is required between those who set zoning regulations (planners) and those who understand the market impacts of those regulations (economists). As Bertaud

Revisiting case studies, such as the Bessarion subway station experiment in the North York suburb of Toronto in the early 2000s, can provide us with lessons learned. These lessons can be applied to neighbourhoods such as the Bloor West Village and Danforth Village areas, which are short on suitable housing supply, but desirable to city residents.

A large portion of Toronto, including Bloor West and Danforth Village, are largely zoned exclusively for single-family detached housing, and could offer significant potential for more density and supply if rezoned.

These neighbourhoods are often adjacent to major avenues and streets that are near transit and other amenities. These neighbourhoods are also often home to over-housed aging households who would like to remain in the community, but have few alternative, maintenance-free housing options. By building more

“missing middle” housing, which includes secondary suites, triplex/ duplexes and midrise condos, aging households would be given more housing alternatives, thereby encouraging much-needed turnover of the existing housing stock.

This could free up single-family homes that are in greater demand by under-housed younger families.

Indeed, by designing such “upzoning” scenarios 500 metres and one km away from transit, and running the rezoning assumptions through the UrbanSim microsimulation land use models, we found that some of the excess demand could be satisfied. Furthermore, this upzoning would enable more complete and inclusive communities enabling middle to lower income households to secure alternative housing options with excellent access to jobs and transit.

While easing zoning regulations is a necessary condition, it is not sufficient on its own. Other barriers also need to be addressed simultaneously. Structural barriers, such as neighbourhood resistance to more density (NIMBYism), land value uplift from more density, shortage of skilled trades, lengthy planning approval processes, and government development charges, can result in fewer viable housing projects.

The recently announced Housing Accelerator Fund, as part of the recent federal budget tabled, is meant to incentivize cities to break down these structural barriers and deliver more housing.

Ted Tsiakopoulos is a professional economist, author of Property Trendsetters: Successful Toronto Real Estate Experts Share Key Insider Secrets, and sought-after speaker with more than 25 years of experience analyzing housing and financial markets. He has also worked as an investment counsellor on Bay Street in Toronto. ttsiakop@cmhc.ca or LinkedIn/Ted Tsiakopoulos.

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nexthome.ca 27

ADVICE | stAt ChAt

WHAT DO LOWER RESALE PRICES MEAN FOR NEW CONDO BUYERS? BEN MYERS

According to the Toronto Regional Real Estate Board, the average price of a resale condominium unit in the Greater Toronto Area was $747,000 in June of 2022, an increase of 9.3 per cent annually. However, the average price was $809,000 on average in March of 2022, so prices fell 7.7 per cent over that three-month period.

So how does that impact you, as a prospective new condo buyer? You are purchasing a condominium today but not closing on that unit until the building is complete — 2025, 2026, 2027 or even later for some projects.

So how much stock should you put on trends in the current housing market, versus the longer-run outlook for the GTA in three to five years from now?

New condo prices have increased for 26 consecutive years, but we’ve never been in a situation where there is so much uncertainty, as it relates to the housing market. The pandemic is clearly not over, as much as we try to ignore it, cases of monkeypox are 28 condolife magazine | Aug. 13–Sept. 10, 2022

rising, interest rates have been hiked at an unprecedented rate, yet inflation remains. Construction costs and government-related development fees are skyrocketing, which will ultimately lead to less supply in the future.

Immigration is back to record levels, job growth in Ontario remains solid, but out-migration from Ontario to other parts of the country has been very high. There continues to be supply chain issues, high gas and energy prices, and a desire from a significant number of employees to work from home.

Because of the strong sales over the last five years, the number of new condo projects under construction in the GTA will remain high for the foreseeable future, and thus construction costs will remain high and developers will have a floor where prices will not dip below. Whenever there is a market reset or slowdown, there is a flight to quality, as investors concentrate on downtown Toronto projects close to transit and employment. Young professionals will flock to small and affordable product where they are close to amenities and can walk to work.

If you put my feet to the fire, I think new condominiums will still

sell, but price growth will be much more moderate. Projects will require three to nine months to reach their construction financing sales requirements from the banks, instead of the two weeks that has been the standard for much since 2017. There will be more incentives, and projects in outer-suburban regions will start to shrink in size or be downzoned to stacked townhouses or freehold built forms.

People still want to be in the GTA, young professionals still want to be in downtown Toronto, and we’re still one of the most dynamic and desirable cities in the world.

I wouldn’t bet against Toronto housing just yet.

Ben Myers is the 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.

Contact him at bullpenconsulting.ca and @benmyers29 on Twitter.

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ADVICE | WESTERN VIEW

BUILDING THE WEST END BRINGS JOBS AND ECONOMIC DEVELOPMENT

MIKE COLLINS-WILLIAMS

Addressing Ontario’s housing shortage by building homes is the key to solving our affordability problems and improving our economy. New data from the Canadian Home Builders’ Association paints a clear picture of the success of the industry in generating local investment and significantly contributing to the prosperity and strength of our local economies.

The homebuilding industry is the engine that drives Ontario’s economy and is one of the largest financial forces in Burlington and Hamilton, generating immense economic activity. This includes thousands of high-paying jobs supporting household income, as well as millions of dollars in fees and taxes that become revenue for local governments. As the two key cities where the majority of WEHBA members operate, let’s have a look at the impact our industry has in Hamilton and Burlington.

BURLINGTON

In Burlington, a city with a population of approximately 183,315 people, the building industry provides over 5,300 local jobs, paying $363 million in wages. These jobs are highly localized, with most people living and working in the same region.

This means that all the wages paid out support purchases across the entire local economy. In addition to these local investments in Burlington, in 2021, new homebuilders also

started construction on more than 500 homes for current and future Burlington residents.

to Hamilton families. In fact, the residential construction industry is the largest single wealth builder for most families in Ontario and in Canada.

HAMILTON

Hamilton has a larger population than Burlington, at about 569,355 people.

This translates to approximately 23,000 local Hamilton jobs provided by the homebuilding and renovation industries. These are well-paying, on- and off-site jobs, that provide $1.6 billion in local wages. These wages support people and families living in the Hamilton region, as well as our local businesses through local purchasing power.

Similar to Burlington, builders began construction on 4,187 new homes for Hamiltonians in 2021 alone. Future homeowners view the purchase of a new home as a personal investment, and as such, these new units give families the opportunity to start building their own wealth. This method of wealth generation contributes approximately $3.2 billion in investment value

The new home construction industry is crucial to the local, provincial and Canadian economies at large, creating jobs and generating income that help our communities thrive. While we absolutely need to be building more, and streamline the development process, to facilitate new home construction, WEHBA members are working hard to reduce the shortage of homes in the region while significantly contributing to our local economy, community and prosperity.

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

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nexthome.ca 29

BUILDER PROFILE | NIAGARA

Lusso Urban Towns

LUSSO URBAN TOWNS NIAGARA’S NEWEST HIP COMMUNITY Lucchetta Homes has designed a chic, contemporary collection of urban townhomes conveniently located within the city of St. Catharines.

Welcome to Lusso Urban Towns, a distinctive enclave destined to become a one-of-kind “signature community” found in the heart of Niagara.

The Lucchetta family continues their tradition of building finely crafted homes and award-winning communities throughout the Niagara Region since 1960. Lucchetta Homes is relentless in its pursuit of “legendary luxury,” a standard they insist upon for each and every home they build.

Lusso will continue that tradition.

“Our passion is evident in each beautifully designed home, with stunning quality features, in awardwinning developments. At Lucchetta, we not only build exceptional 30 condolife magazine | Aug. 13–Sept. 10, 2022

homes, but foundations to “Live Your Best Life,” according to Robert and Edward Lucchetta.

Living at Lusso means you have everything right at your doorstep.

Conveniently located with easy access to the QEW and Hwy. 406, these beautiful homes are near all amenities, including schools, Brock University, Niagara College, churches and sports facilities. Within minutes of your front door, you will find a complete array of shops, entertainment, services, restaurants, the regional hospital, scenic parks, world class wineries and spectacular golf courses. Our very own wonder of the world, Niagara Falls, is a just short drive away.

Lusso is one hour from Toronto, and the Buffalo International Airport is just 50 minutes away. Scenic areas, such as the shores of Lake Erie in the

south and historic Niagara-On-TheLake to the north, are close by.

This outstanding collection of exceptional two-storey, threebedroom homes range in size from 1,817 to 2,252 sq. ft. Lusso’s inspiring exteriors include luxurious stone, modern brick, stucco and attractive Hardie Planking. Finely finished openconcept interiors are spacious, well designed and bright. Details can be found on the Lucchetta website at lucchettahomes.com/lusso.

Don’t be disappointed. These homes will sell fast. With construction well underway, Lucchetta Homes invites you to see more at its on-site sales centre at 24 Grapeview Dr. in St. Catharines. Open every Saturday and Sunday afternoon, prospective buyers are asked to visit by appointment only at this time.

Hunter’s Pointe

HUNTER’S POINTE

Another Lucchetta community is the award-winning and highly successful The Residences at Hunter’s Pointe. This is an active adult, 55plus, lifestyle community, located

in a truly unique setting along the Welland Canal in the heart of the Niagara Region.

Rich with activities and amenities, the residences at Hunter’s Pointe is ideal for independent adults who

Loving the Lusso lifestyle

value a vibrant social and physical lifestyle. Open-concept bungalows are loaded with Lucchetta Homes’ architectural elements, upgraded finishes, over-sized windows, and striking design features.

Lucchetta Homes will be releasing a new phase in its exclusive collection of luxury homes this fall. You can choose any one of a number of stunning detached bungalow or bungalow townhome floorplans, ranging in size from 1,405 to 1,734 sq. ft.

Overlooking the Canal, residents here often relax while ships meander slowly toward their destination. With its landscape dotted by wineries, the world-renowned Niagara Falls, casinos, spas, marinas, spectacular dining, golf courses and trails for walking or cycling, Hunter’s Pointe is the perfect destination for those seeking to live life to the fullest, without compromising the conveniences of modern living.

For further information visit lucchettahomes.com. For a personal appointment call, text or e-mail Paul Snack. 416.605.3885 lussosales@lucchettahomes.com nexthome.ca 31

ADVICE | HOME REALTY

PUTTING RISING INTEREST RATES INTO PERSPECTIVE

DEBBIE COSIC

After a few years of historically low mortgage interest rates, Canadian homebuyers are now dealing with the results of recent Bank of Canada rate hikes, which are necessary to help fight inflation.

Although these increases affect your homebuying power, it may not be as much as you think. For example, according to statistics from the Government of Canada, if you take out a mortgage of $400,000 with a 25-year amortization, at four per cent interest rate, your monthly payment amount would be approximately $2,104; at five per cent, about $2,326.

That’s about $222 more, or a minimal amount of discretionary income for many Canadians. Unless you make yourself what we refer to as “house poor,” this should be manageable.

Keep in mind that your lender uses several parameters to determine your mortgage rate, such as their current prime and posted interest rate, amortization and length of the term you choose, the kind of interest you select (fixed or variable), your credit history and current debt situation, employment status and whether you qualify for a discounted rate, among others. When you do your research to determine what you can afford, planning on interest rate rises in the future should be a consideration.

Our conservative Canadian banking practices help to protect people from becoming overextended and creating the kind of scenario we saw in the U.S. a few years ago.

32 condolife magazine | Aug. 13–Sept. 10, 2022

Verde Living in Kitchener

Putting things into perspective, about five years ago, five-year fixedrate mortgages were on average 4.64 per cent. In fact, over the last 25 years, the average for that type of mortgage is 5.65 per cent. On June 1, the Bank of Canada raised its overnight target to 1.5 per cent, and before the pandemic, it was 1.75 per cent.

Looking worldwide, Trading Economics (tradingeconomics. com), which gathers information on 196 countries through official sources, reported on June 17 that the mortgage rate in Australia was 4.72 per cent; in the UK, 4.25; and in the U.S. 5.65.

Another way of looking at things is to consider those who purchased during the lockdown because of COVID, when their rate was likely below 2.5 per cent. Yes, when they go to renew after five years, their rate will be higher, but so will their property value. In addition, they will have been paying on their mortgage for years. Remember that for preconstruction homes and condos,

owners often earn equity before they even take possession.

Not to sound like the parents who walked five miles uphill in snow to get to school as kids, but ask them about the 1980s and 1990s in Canada, when mortgage rates skyrocketed into the double digits. They did what they had to do to cope, including giving up unnecessary luxuries.

The moral of the story is to avoid overextending your financial reach when purchasing a home. Your financial advisor should help you determine what you can comfortably afford, allowing for the unexpected, such as interest rate rises.

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

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ADVICE | PERSONAL FINANCE

WITH RISING RATES AND COSTS, HOW CAN YOU BUDGET FOR

A HOME PURCHASE? STEP 2: ELIMINATE UNNECESSARY PURCHASES

JESSE ABRAMS

Interest rates recently increased a full percentage point – the biggest hike we’ve seen from the Bank of Canada since 1998. With rising inflation and spikes in the cost of living, many potential homebuyers are wondering when the right time is to purchase a home. In light of market conditions, it’s probably a good idea to take a more stringent approach to spending in general right now. For those looking to buy sooner than later, the first thing you’ll want to do is create a detailed budget. With many anticipated changes expected to come, this is one sure way you can be prepared as a home buyer.

STEP 1: IDENTIFY ALL YOUR EXPENSES AND LIABILITIES

The first step to establishing a realistic budget is understanding how much money is coming into your bank account, and how much is leaving on a monthly basis. This can take the form of fixed monthly expenses, such as your car payment or other costs you frequently incur.

You can start by reviewing your finances from the last three months.

This will give you a solid overview of your monthly income, along with your aggregated expenses and average monthly spending. It will also help you identify patterns in your spending that can potentially be avoided, as well as bring your attention to expenses you may not be aware of, such as monthly subscriptions we often forget about.

34 condolife magazine | Aug. 13–Sept. 10, 2022

This next step is essential because it gives buyers an opportunity to evaluate where their money is going and make the necessary changes. Once you understand what your household is earning and spending, it’s time to start cutting expenses and saving. What this really means is cutting back on non-essential spending.

Although prices in fuel and food are on the rise, these are two examples of essential purchases many Canadians can’t go without. That’s why being conscious of non-essential spending has become that much more important to us, especially if we’re planning to buy a home. Consider cutting expenses such as dining out, reviewing monthly subscriptions such as Spotify or Apple Music, deferring vacations or a new vehicle.

It’s important that your budget is realistic and sustainable to your current lifestyle. For example, if you have a demanding job and young kids, budget three nights of take-out per month, versus eight nights. Even the smallest changes can make a difference over time.

STEP 3: PAY OFF YOUR DEBT

While this might not “feel” like saving, paying off your debt can save you a great deal of money. For example, if you have credit cards or a line of credit, you’re saving on the interest charged to your unpaid balances – which can fluctuate significantly.

It’s important to remember that the highest interest rates are most often associated with credit cards.

Minimizing your debts is also one less monthly expense, and can do

wonders for your monthly budget.

The faster you rid yourself of debt, the faster you can save for a down payment.

Eliminating debt also serves as a good primer for your mortgage application. Your debt-to-income ratio (total monthly debt/gross monthly income multiplied by 100) is a key factor lenders will consider for approval, so it’s wise to get a handle on it now before you begin the process.

STEP 4: AUTOMATE YOUR PAYMENTS

Your budget is now in place. Here comes the hard part – sticking to it. Holding yourself accountable to your budget can seem daunting, but nowadays, it’s incredibly easy to manage and make your payments.

Online banking gives us the ability to automate everything and ensure we never miss a beat. Once you know your budget and have a better understanding of your monthly contributions, you can easily set up your payments in advance – giving you one less thing to worry about.

It’s important to remember that volatility in markets is temporary, and what we’re experiencing right now won’t last forever.

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

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

ADVICE | LEGALLY SPEAKING

PREPARING TO BUY IN UNCERTAIN TIMES

JAYSON SCHWARZ, LLM

Home prices are falling in some cases and interest rates have risen.

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?

36 condolife magazine | Aug. 13–Sept. 10, 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 | REALTY INSIDER

THINKING OF TRANSITIONING FROM HOMEOWNER TO INVESTOR? HERE’S WHAT YOU

NEED TO KNOW

MICHAEL KLASSEN

The real estate market in Toronto and the Greater Toronto Area has been remarkable over the past few years, especially for investors.

Historically, real estate has proven to be a lucrative investment for both investors and homeowners, provided that the purchaser is willing to ride out the ups and downs in this cyclical industry. As rising interest rates have affected end-user sales, the current situation is encouraging for investors, because the rental market is on fire.

Average rents across the GTA have gone up nearly 20 per cent over the past year – numbers that positively impact investors’ returns.

Investors know that interest rates are still relatively low. With major bank variable rate mortgages near four per cent, and five-year fixed products at closer to five per cent, the actual monthly blended payments are still at a reasonable range. As an offset, softening prices will help keep overall loan costs still within check for most buyers. Furthermore, as inflation tames, rates will likely come down.

So, forget what the rates were months ago, that’s yesterday’s news. We all know those couldn’t last forever.

If you look at the big picture, the costs for land, development and construction all continue to rise.

Thus, prices for preconstruction condominiums have only one way to go, and that’s up. This has been the state of southern Ontario’s market for years, and I am banking on nothing

changing going forward. How many times have I heard people say, “I wish I bought then, when the prices were so low per square foot.” This is why I say that the best time to buy preconstruction is now. Plus, we all know that you get the benefit of today’s prices while only having a relatively low deposit, securing your purchase for what will be delivered years out.

And how about location, location, location? It’s not only Toronto and the GTA where there are excellent opportunities. We sell a lot of preconstruction in the Niagara Region, for example, and nearly all those buyers are from the GTA. Location is critical, and I advise investor clients to go where the GO is going. Niagara has a GO train, which makes it a popular destination. Hot properties are always situated on or around transit lines. If you’re an investor who intends to rent

out your property, transportation and convenience should always be top of mind when selecting a spot. In fact, that goes for anyone purchasing a pre-construction property. Remember that even for end-users, your home or condo is both a lifestyle and financial investment.

When some things in this industry go down, others go up. Whether you are a first-time or seasoned investor, look at the big picture and do your homework. Now is your time to shine.

Michael Klassen is the Broker of Record, Eleven Eleven Real Estate Services. Based in Toronto, this firm is a residential preconstruction listing brokerage. 1111realty.ca

+MORE CONTENT ONLINE nexthome.ca

nexthome.ca 37

ADVICE | REAL INSIGHT

A LOOK AT THE SUMMER HOUSING MARKET

AND BEYOND KEviN CriggEr

Looking at the months ahead, current market conditions will likely remain, as buyers re-evaluate affordability and adjust to rising mortgage rates.

Despite higher borrowing costs, as with other market cycles, we will see some buyers re-enter the market as conditions stabilize. New listings of homes and condos are an important indicator to watch and are key to understanding how tight market conditions are now and will be in the future. Fundamental supply shortages remain, and increasing immigration, coupled with buyers adjusting to higher borrowing costs, will illustrate this going forward.

Unemployment rates are currently at historic lows, and despite media headlines to the contrary, the majority of households are not in a position where they need to sell their home.

If would-be sellers decide to take a wait-and-see approach over the next few months, it is possible that active listings could trend lower. This could cause market conditions to begin to tighten again, providing further support for home prices.

One thing is certain – our region continues to grow because we attract people and businesses from all around the world. Every one of these people will require a place to live, whether they choose to buy or rent. Despite the shorter-term impact of higher borrowing costs, housing demand will remain strong over the long term.

38 condolife magazine | Aug. 13–Sept. 10, 2022

BREAKING DOWN THE HOUSING MARKET IN JUNE

In June 2022, home sales were down compared to last year’s strong result. Prices were also down on a monthly basis.

The number of home sales in June was down by 41 per cent over the high in 2021. Unprecedented quick increases in borrowing costs are presenting affordability challenges to prospective homebuyers and pushing some to reconsider when to purchase a home. For buyers who can afford higher borrowing costs, some have put their decision on hold to see how prices respond.

Home sales in June were down when compared to May 2022, which is often the case due to the seasonal nature of the market. Demand normally slows as we approach the summer months, especially with travel resuming.

While the number of sales was down from last year, new listings changed little over the same period.

This has provided for more balance in the market.

When it comes to the cost of a home, the average selling price was $1.14 million, which despite prices trending down on a monthly basis, is up when compared to June 2021. Townhomes and condos have presented the strongest price growth year-over-year.

As always, stay up to date on the real estate market by visiting trreb.ca.

Discover our monthly Market Watch report. We break down prices, sales and new listings across the Greater Toronto Area. You can also 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

ADVICE | REAL ESTATE PRO

A BALANCED TRUTH DEEPER RESEARCH SHOWS THE GTA CONDO MARKET IS DOING JUST FINE

BARBARA LAWLOR

At Baker Real Estate Inc., we are busier than ever. We recently launched three of the GTA’s most anticipated and significant condominium communities, and our pipeline for the remainder of the year and into 2023 is robust, with no hint of cancellations.

Imagine my surprise when in late June, I read about a real estate research firm’s analysis that referred to “…5,000 units that are already in the market that could cancel.”

This shocked me for a couple reasons. First, where did that number come from? Who did they ask?

What does “could cancel” mean?

How do they know? There is no mention of any survey conducted or statistical analysis. No one asked us at Baker. The piece came out when we were in the throes of those three major launches.

Second, I believe firmly in the self-fulfilling prophecy: Tell people something is bad, and they’ll make it bad. Why would anyone, let alone several media outlets, print something so damaging to the market when it does not reflect a balanced truth?

My advice is to take what you read and hear in the media with a grain of salt – especially headlines, which far too often unfairly mine for the negative. Contrary to what you may have read, well-established new home and condo developers are going ahead with gusto when it comes to launching sales.

Take Forma, which is one of the most anticipated launches of the year – possibly in Toronto’s history.

This three-way partnership among Great Gulf, Dream and Westdale features architecture by the great Frank Ghery. A Toronto native, Ghery has gone all out to create architecture that will be iconic on the skyline at the nexus of the Financial and Entertainment Districts.

We are also currently launching the new phase at Brightwater in Port Credit West Village. Called Bridge House, this condominium offers idyllic waterside living with spectacular views of the lake and park. Brightwater is brought to you

by West Village Partners, a shared partnership among the prestigious firms DREAM, Kilmer Group, Diamond Corp. and FRAM + Slokker.

Then there is the second phase at The Dawes Condominiums East of Main by Marlin Spring. This new condo is in The Danforth’s highly sought-after and emerging east end neighbourhood. With direct views to Lake Ontario, Woodbine Park and the beach, the location is close to nature and amenities. Designed by award-winning IBI Group architects, the contemporary tower will rise to 38 storeys.

All of these condominiums are coming onto the marketplace fearlessly. Are there ever delays? Sure, but that is something developers face all the time due to approvals and zoning taking longer than anticipated.

And remember that the most positive part of our market today is our population growth, which tops the G7 nations. With Canada’s welcoming positioning on immigration, we will need more

FORMA

housing than we are capable of building. We will see the continuation of a demand exceeding supply situation and prices will rise.

Keep in mind, as well, that for the seventh consecutive year, in the first quarter of this year, Toronto led the crane count in North America, according to the RLB Crane Index.

That says a lot. So, before you hesitate to buy a new condominium suite because of shocking headlines in the news, do some research and discover the balanced picture.

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

nexthome.ca 39

NEIGHBOURHOOD WATCH

OSHAWA & WHITBY MAINTAINING AFFORDABILITY, GROWING IN APPEAL

by WAYNE KARL

As prospective homebuyers look outside the Toronto core in search of more affordable homes, more and more buyers are heading east.

Communities such as Oshawa and Whitby have plenty going for them – close enough to Toronto to benefit from easy transit and highway access, but also sufficiently distant to boast their own small-town characteristics.

Not to mention, it is home to some of the more affordable homebuying destinations in Ontario.

In its 2022 Housing Affordability Report, in fact, ReMax cites Oshawa as one of the most affordable areas in the province.

40

condolife magazine | Aug. 13–Sept. 10, 2022

Another realty firm, Royal LePage, shows strong home price growth in Oshawa and Whitby. The condo segments, in particular, are outperforming their counterparts in markets such as Toronto and Mississauga, on a yearover-year basis.

New home development is also seeing some notable growth. For example, Tribute Communities is expanding its U.C. Tower condo community with the introduction of U.C. Tower 3. Sharing a podium with U.C. Tower 2, this latest offering is designed to appeal to a wide range of homebuyers, with a variety of suite

designs and sizes, and top-notch amenities and features.

What’s the appeal in the east? Its convenient natural location just east of Toronto along Hwy. 401 is among the reasons, with Pickering just 40 km from downtown, Ajax 46, Whitby 59 and Oshawa 62. Living in these areas and commuting into the city is a real option – particularly with recent GO Transit improvements and the expansion of Hwy. 407.

EXPANDING ATTRACTIONS

As with any growing municipalities, these areas also offer expanding amenity and retail options. The

+ LOCATION, LOCATION, LOCATION Located east of Toronto, east GTA comprises Pickering, 40 km from Toronto, population 91,771; Ajax 46 km, population 121,780; Whitby 59 km, population 128,377; Oshawa 62 km, population 159,458

Oshawa Centre, for example, is the largest shopping complex in Durham and is home to more than 230 outlets. And in downtown Oshawa, of course, there’s a variety of unique shops and restaurants.

Nature is also front and centre, as Oshawa is home to wildlife preserves such as the Pumphouse Marsh, Second Marsh and McLaughlin Bay Wildlife Reserve. Oshawa Botanical Gardens boasts North America’s largest contemporary peony collection, and on Oshawa’s

Lake Ontario shoreline, Lakeview Park offers many picnic areas, playgrounds, sports fields, a waterfront pier and sandy beaches.

In Whitby, more than 100 parks, more than 60 kilometres of trails, including the Bio-Diversity Trail, the Cullen Central Park Trails, Otter Creek Trail and the Whitby Shores Waterfront Trail, await residents.

The 670-acre Lynde Shores Conservation area is known for its wildlife and provides habitat for nesting birds.

HOME PRICE GROWTH MARKET OSHAWA Condominiums Aggregate WHITBY Condominiums Aggregate

Q2 ’21

Q1 ’22

Q2 ’22

Q/Q % CHG

YR/YR % CHG

$436,000 $788,750

$543,700 $993,400

$506,200 $882,100

-6.9 -11.2

16.1 11.8

$570,500 $987,500

$736,200 $1.25M

$691,700 $1.04M

-6.0 -16.2

21.2 6.1

SOURCE: ROYAL LEPAGE HOUSE PRICE SURVEY AND MARKET SURVEY FORECAST

KEY LANDMARKS • Casino Ajax • Claremont Conservation Area • Frenchman’s Bay • Greenwood Conservation Area • Petticoat Creek • Pickering Town Centre • Veterans’ Point Garden SELECT CONDO DEVELOPMENTS Four Sixteen Condos

By Kaleido Developments 416whitby.com Treehouse Studios

By Karmina Developments karminadevelopments.com U.C. Tower 3 Condos

By Tribute Communities uctower2.ca The Landing Whitby Harbour

By Carttera carttera.com nexthome.ca 41

Designed by Linda Mazur Design.

Photo: Jason Hartog Photography

INTERIORS

IN THIS SECTION:

HOME FINDS | DECOR | STYLE nexthome.ca 43

INSPIRATION |

decor

Light up your home HOT TIPS TO

by LINDA MAZUR Lighting can have a major impact on the look and feel of your home, and is an important part of any good design.

Good lighting can enhance any room – but great lighting can make it shine.

We all know that lighting has an obvious function and purpose, however, it can also be used to highlight a feature in your home and it’s not only about functionality.

A successful lighting plan is about 44

condolife magazine | Aug. 13–Sept. 10, 2022

layering, which builds flexibility into a room. Good lighting is not just about looking pretty in the room; if layered well it will be purposeful and enhance the overall aesthetic of your space.

There are four basic types of lighting in design: Ambient, task, accent and decorative. Ambient lighting illuminates any given space and gives you ease of mobility throughout a room. Task lighting,

just as it sounds, affords additional lighting in specific areas devoted to a particular task or function.

Accent lighting can be used to highlight artwork, decor or perhaps architectural features within a space; it can be a great way to highlight a focal point in a room. Finally, we have decorative lighting, which is simply an accessory to your room, or the finishing touch.

As a designer, I like to consider yet another source of lighting – natural light. It’s the most inexpensive, environmentally friendly and soughtafter form of light available. Many new condo and home builds today are being designed and constructed with wonderfully large window features that allow for maximum natural light, even in small spaces. Natural light not only services the functional aspect of light in design, it also helps to create a warm and inviting aesthetic for your home. When designing your space consider how natural light moves through your space, and how to use this source of light to your benefit.

In many renovations today, recessed pot lights are the go-to option when looking to upgrade lighting in a home. However, for condo dwellers, this is not necessarily feasible, as ceilings are mostly concrete. When looking to modify your condo, there are some ceiling details that may allow you to add pot lights. If yours permits, features such as a tray or a coffered ceiling can be a nice way to not only add interest to your space, but also allow you to add recessed pot lighting. If this is not an option for you, consider adding track

Here are a few design tips to get you started: • Lighting stores can be a great source of technical knowledge that can help to create a suitable plan for your home • Consider the activities and ambiance you want for your space • Incorporate a different style of light into your space, something a bit modern in a more traditional environment, or a beautiful crystal chandelier paired with a rustic farmhouse table • The general rule for an eight-ft. ceiling height is that a chandelier should be hung approximately 29 to 33 in. above a dining table, for each added foot of ceiling height increase by three in.

• Consider highlighting any decorative elements such as artwork

lighting; the systems on the market today have a far more upscale look to them, with many more size and style options than in the past, while being far more user-friendly for the condo environment.

Whatever your lighting inspiration, be sure to pay attention to your lighting plan and needs so you not only create a space that is safe and functional, but also uses light to create a warm and inviting ambiance.

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 45

Focus on

INSPIRATION |

fall

trend expert

Accent PILLOWS. thelifestyleloft.com

by BILHA KANGETHE

C

Furniture and design trends to watch for

osy palettes, inspiration from past decades, and a bold expression in design that highlights an awakening we have all experienced as we slowly slip out of the pandemic — these are the drivers behind the trends to expect this fall.

While we move toward embracing comfort, sustainability continues to be a focus in the supply chain. We will need to be intentional about spaces that will impact how we live, while emphasizing our well-being and productivity.

Most importantly, as we move into the subsequent seasons and infuse our homes with personality, there will be a return to lasting style. Consumers are ready to purchase one-of-akind, beautifully well-made items for timeless design that will look great no matter what the decade.

An ode to nature, a return to decadence and

an embrace of what is being termed as “newstalgia” — this is what is coming for fall 2022

46 condolife magazine | Aug. 13–Sept. 10, 2022

Kitchen. devolkitchens.com

Luna SIDEBOARD. thelifestyleloft.com

Twin drink ACCENT TABLE. thelifestyleloft.com

MODERN TAKE ON VINTAGE CLASSICS Inspiration taken from the decadent art deco movement, a refined 1960 to 1980’s retro vibe and a modern play on the grand millennial chic of the 1990s has resulted in layering these decades and artfully recreating and honing these eras to usher them into 2022.

With the return of the roll arm sofa, skirted furniture and plush channel tufting, the textures feel calm, mindful and warm. The prints evoke a feeling of nostalgia while celebrating the now, all the while honouring and satisfying our craving for serenity and wellbeing, elevating our need for newness and excitement.

From warm ochres, muted terracotta and sage to earthy browns and fanciful caramel, these tones will live in harmony and add warmth and richness, bringing the fall indoors to provide a reinvigorating, comfortable and exciting vibe for when we settle into the winter season.

EMBRACE THE EXCESS While we loved the minimalist japandi style with the peaceful calm vibes of the Scandinavian influence, maximalism is ushering its way into our design schemes and we are loving it all. It gives us a chance to indulge in personality, glamour and create breathtaking moments with one-of-a-kind pieces in the home. Luxe wallpapers, detailed tile installations, sculptural detail and an array of playful shapes and architectural touches means this trend is about going big and bold.

Accent PILLOW. thelifestyleloft.com

MATERIAL MANIA

Romola accent CHAIR. thelifestyleloft.com

Permiter SOFA. cb2.ca

Cristo white and black striped VASE. cb2.ca

This season’s furniture, decor, and design trends are all about embracing luxe. Think ultravelvets, coloured marble, honed-in sculptural pieces and the everevolving rattan and statementmaking light fixtures. We anticipate designers curating bespoke pieces and consumers paying tribute to their one-of-a-kind taste to honour the maximalist design style. Expect to see a refreshing spotlight on warm earthy neutrals in stone and clay materials, and minimally textured plasters that will reflect the craftsmanship and artistry we love.

Bilha Kangethe is the founder and creative director of The Lifestyle Loft. As a certified designer and interior decorator, she has created a company that focses on the needs of each client and customer and helps them curate a lifestyle that is comfortable and economical. thelifestyleloft.com

nexthome.ca 47

INSPIRATION |

big style

SUSTAINABLE PRINCIPLES OF

INTERIOR DESIGN

by LISA ROGERS

Doing our part to help the environment is more critical than ever, so how can we reduce, reuse and recycle our way to more sustainable interior design? It’s easier than you think.

In principle, sustainable design aims to reduce negative environmental impact through thoughtful design.

This means buying more energyefficient products, reducing waste and using limited resources throughout their life cycle. It’s considered one of the fastest-growing segments in the design industry – often referred to as “Green” interior design – and 48 condolife magazine | Aug. 13–Sept. 10, 2022

it encourages more of us to create a sustainable space that helps save our environment. It can sound overwhelming when we think about saving the planet with our actions, but there are things we can do to achieve (better) sustainable interior design.

DESIGN FOR ENERGY EFFICIENCY

Energy consumption is a significant contributor to climate change. There is plenty we can do in our own homes to improve energy efficiency by looking at the amount of energy we need for heating, lighting and running our appliances. Since most

heat escapes through windows, your installed windows must be high quality and provide good insulation.

Window coverings also keep both cold air and the sun’s heat outside.

Installing home automation (often called “Green gadgets”) makes it possible to control heat and lighting systems remotely. This will help you use your home’s energy more efficiently and economically. Think about intelligent bulbs, the Nest Learning Thermostat, or Green apps that you can download on your phone and to help monitor your energy use.

PAINT WITH THE RIGHT COLOURS

To save on energy spent on lighting, plenty can be done in picking the right colours. Lighter colours reflect more light, while darker walls (and furnishings) absorb light and require more artificial lighting to brighten up the space. Also, here’s a trick: Reflective surfaces, such as glass, increase the amount of light in a room by bouncing around, so opt for glass tables or extra mirrors in your room to capture all of that glorious natural light. Also, most paints contain toxic fumes and chemicals, so try and opt for paint brands that offer less abrasive products that don’t harm the environment.

OPT FOR NATURAL TEXTILES

I love natural textiles in interiors, and they’re continuing to be a major theme in this season’s design ethos.

Eco-friendly and naturally-sourced fabrics are all the rage and can be recycled as can vintage woods, banana fibre, Afghan wools, hemp, seagrass, burlap, raw cotton or linen.

Not only can they come in a variety of different textures, they are also capable of being ethically sourced.

Beyond materials for furniture or furnishings, organic materials can also be used in mattresses, upholstery or pillows. This can reduce the production of synthetic materials that sadly end up in our landfills.

BUY LOTS OF INDOOR PLANTS

It is aesthetically so pleasing to have a home filled with greenery and plants, and plants also work double-duty in that they give oxygen and eliminate harmful substances from the air.

They also provide a natural look and freshness in your home. NASA’s Clean Air Study found a number of air-purifying plants that can detoxify

your home from the airborne toxins, dust, and germs found in a variety of household products, materials and furniture. However, to make that much of a difference to the air quality inside your home, you would need a significant number of house plants (about 90) to work together to clean the air. But, with houseplants becoming an interior design trend that looks like it’s here to stay, we might as well choose one that will improve the air we breathe, even if it’s not all of it.

English ivy, snake and spider plants, and chrysanthemums help filter out toxins, including ammonia and benzene found in varnishes, floor finishes, and detergents.

INVEST IN VINTAGE FURNITURE

I love vintage furniture, and when we are making more efforts to be more mindful of the planet, we should really be aware of the furniture and decor pieces we choose. When we repurpose an old-found treasure, we immediately reduce waste, overproduction, and our footprint – all good things.

I know buying a brand-new piece can be exciting, but so can sourcing and hunting for that vintage piece full of legacy and sentimentality.

Browse online marketplaces or go the old-fashioned route and head to some estate sales or vintage markets.

I guarantee you will stumble upon some unique finds that will give your home a new look.

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 49

INSPIRATION |

home finds

HOME etc.

by SARA DUCK

Create a cosy outdoor reading nook with simple design elements, such as a comfy chair, warm throw, soft rug and side table, to help you embrace outdoor living even when the summer months end

Boho wicker egg patio lounge CHAIR by Hampton Bay. $438. | Side metal STOOL with gold finish by Hampton Bay. $90. homedepot.ca

50 condolife magazine | Aug. 13–Sept. 10, 2022

Ciao Italy

1

Dreaming of a vacanza in bella Italia but can only afford a staycation this year? We hear you! Incorporate some of these Italian-inspired finds to keep you dreaming of la dolce vita all summer long.

6

2

3

5 4

Cool

1. APEROL APERITIVO. $28. lcbo.com | 2. Patterned cotton TABLECLOTH. $20. hm.com | 3. Sicily outdoor melamine DINNERWARE collection. $12-$87. williams-sonoma.ca | 4. Printed outdoor PILLOW by Oui. $39. indigo.ca | 5.

Printed beach TOWEL by Oui. $24. indigo.ca | 6. HOW TO BE ITALIAN: EAT, DRINK, DRESS, TRAVEL AND LOVE LA DOLCE VITA by Maria Pasquale. $27. indigo.ca

1

colourful collab Designer Azeeza Khan is known in the fashion world for her innovative silhouettes and vibrant colour palette.

Here, she brings her passion for design to a special outdoor capsule collection for CB2. We love the gem-coloured theme, perfect for injecting a little life into your outdoor space. cb2.ca 1. Three-piece peekaboo colourful NESTING TABLES. $300.

2. Acapulco multi-lounge CHAIR. $349.

3. Linearity outdoor PILLOW. $40.

4. Set of four silk scrunchie NAPKIN RINGS. $20.

2

4 3 nexthome.ca 51

Colour confidential An unexpected way to infuse colour into your bedroom is by choosing a bedframe in a shade you love. These days, upholstered beds come in all sorts of colours, styles and prices – there is something for everyone!

DENICE UPHOLSTERED BED in pink. $500. structube.com | Pair with this sheet set: LAPPNYCKLAR duvet cover and pillowcases. $50. ikea.ca

! n o i t a r i p s n I TESSU BED in Caspian blue. $1,049. article.com | Pair with this sheet set: PAGODTRAD in white/dark blue. $20. ikea.ca

CURRIN UPHOLSTERED LOW-PROFILE PLATFORM BED by George Oliver. $1,369. wayfair.ca | Pair with this sheet set: LYKTFIBBLA duvet cover. $25. ikea.ca

Paint job

Boho table LAMP. $50. | Round wicker BASKET with top handles. $30. | Mother-of-pearl SIDE TABLE. $200. | Lemonyellow THROW. $30. | Bergamot, sea mist and woodland sage scented CANDLE. $20. homesense.ca

VADHEIM UPHOLSTERED BED FRAME in gunnared light green. $550. ikea.ca | Pair with this sheet set: NATTSLANDA duvet cover and pillowcases in floral pattern. $44. ikea.ca

Benjamin Moore has put together an earth-inspired paint palette honouring our beautiful planet. The palette includes gently calming hues, tranquil muted pastels, and comforting, versatile neutrals that will contribute to an overall Zen-like feeling in your home.

These shades might inspire you to consider some eco-friendly home decor alternatives as well. “Give your existing indoor or outdoor furniture a new lease on life with a fresh coat of paint,” says Benjamin Moore colour marketing expert, Sharon Grech. Our favourite hues from the collection include spring violet, fernwood green, jet stream and ocean spray. benjaminmoore.ca 52 condolife magazine | Aug. 13–Sept. 10, 2022

D GREEN

FERNWOO

M

JET STREA

LET

SPRING VIO

RAY

OCEAN SP

The vase

game

Have you noticed that vases are making a serious design comeback? From interestingly shaped vessels that look like pieces of art to colourfully patterned glass containers, there is an abundance to choose from, whether you want to fill them with flowers or not.

4

3

1

2

1. LARGE STONEWARE VASE. $35. hm.com 2. PATTERNED GLASS VASE in light beige. $40. hm.com 3. STONEWARE VASE. $18. hm.com 4. IRREGULAR GLASS VASE. $50-$70. zarahome.ca

Kitch

+Tiffany Pratt

Kitch, a Canadian company specializing in creating cabinet doors and components to fit IKEA cabinets, has released a limited-edition colour palette curated by the queen of colour – Tiffany Pratt. As a designer and artist, Pratt has her finger on the pulse of design and worked with Kitch to create four dreamy pastel colours to add to the Kitch palette lineup. “I’ve never met a colour I didn’t like,” says Pratt. “But pastels and muted tones — they hold a special place in my little rainbow heart.”

For more information visit mykitch.ca and tiffanypratt.com

CLEAN GREEN! While working from home with two small kids and cleaning constantly, Jackie Prince became hyper-aware of all the trash they were accumulating – especially plastics.

After much research and education, she and her partner, Liz Drayton, decided to launch Guests on Earth, sustainable cleaning products that come in refillable aluminum containers. The sleek design makes these products counter-worthy, while the allnatural formulas feel luxurious while you clean. guestsonearth.com nexthome.ca 53

INSPIRATION |

at home

sophisticated Small and

by LUCA CAMPACCI

A

petite pad is turned into an inviting home

O

ur Met Condo Project took a one-bedroom plus den condo and renovated the space for a client who loves to entertain and knows how to mix a great cocktail. She wanted to maximize the 624-sq.-ft. space and provide functionality for entertaining.

We checked off her requests while using pops of earthy pink, complemented by purple and green accents throughout.

Starting in the living room, we placed a wide media unit with tons of storage opposite a deep sofa/ chaise combo, perfect for spending a cosy night in or hosting friends.

54 condolife magazine | Aug. 13–Sept. 10, 2022

Smaller side tables and accents complete the look and are grounded by a large area rug, making the space feel bigger.

Our client requested a bar cart, which would have been a constant obstacle in the small space. Instead, mounting a long, shallow wall unit along the hallway provides a home for bottles, cocktail supplies, and bar accessories while leaving a surface to mix drinks and keep the limited kitchen counter space free when entertaining.

A round counter height table doubles as extra space for meal prep in the L-shaped kitchen, and is surrounded by sleek chairs covered in purple wool.

The den proved to be a tricky space that needed to serve as both an office and a bedroom for the occasional overnight guest. We selected an L-shaped desk with wall mounted storage overhead, both open and closed, to showcase some of her personality and bring in some greenery.

A lounger that becomes a single bed provides a snug spot for visiting guests.

In the bedroom, we maximized every square inch, while keeping a light and airy feel. The queen sized bed fits comfortably with brass and

white end tables on either side.

Painted panels provide a costeffective detail that frames the end tables and bed perfectly.

The accent furniture is small in footprint and lightweight. Therefore, it had to possess the versatility to move around as required and serve multiple functions.

In addition to a clever layout, we installed smart switches, plugs and Google products, to create an interactive and perfectly synced space for our client’s busy life.

Luca Campacci and Vinh Le are Interior Designers at their design firm Level-Studio. They are interested in telling client’s stories through design and setting the stage for their life to unfold. level-studio.ca

nexthome.ca 55

CONDO PROFILES

Bristol Place

developer: style: size: features:

Brampton

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: solmar.ca location: 199 Main St N, Brampton, ON L6X 1N2

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 and 10 Ft 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

56 condolife magazine | Aug. 13–Sept. 10, 2022

41 Wilson Street

developer: style: size: features:

Hamilton

EMBLEM DEVELOPMENTS

Highrise 369 – 1012 sq. ft.

• Studios, 1B, 1B+D, 2B, 2B+D, 3B • State-of-the-Art Amenities: Outdoor Swimming Pool, Yoga Studio, Party Room, Fully Equipped Fitness Centre, Meeting Rooms, Outdoor Games Area, Outdoor Dining Area, Outdoor BBQ, CoWorking Lounge, Outdoor Fire Pit and Lounge, 3 Designer Lobbies with 24Hr Concierge • Steps from Hamilton GO, and future LRT • 97 Walk Score, 85 Transit Score, 93 Biker Score contact: emblemdevcorp.com • 647-577-3930 • thedesigndistrict@emblemdevcorp.com location: 41 Wilson Street, Hamilton ON

Central Park

developer: style: size: prices from: features:

North York

AMEXON DEVELOPMENT CORPORATION

Highrise – 12-acre, master-planned community 436 - 1,200 sq. ft. from the $700,000s • 1 Bed, 1 Bed+Den, 2 Bed, 2 Bed+Den, 3 Bed+Den • spacious layouts, terraces/balconies • Located in the Bayview Village neighbourhood • Leslie subway station and GO Transit at your door • Direct access to the East Don Parkland ravine • Central Park Common – a three-acre urban park offering year-round, outdoor event programming • 55,000 sq. ft. of resort-style amenities including coworking space, skating rink, indoor and outdoor saltwater pools, privately operated childrens’ daycare, EV charging stations in all parking areas contact: centralparktoronto.com • (416) 252-3000 location: 1200 Sheppard Avenue East

CONDO PROFILES

U.C Tower 3

Oshawa

Bianca

Toronto

Artist Concept developer: style: size: prices from: features:

TRIBUTE COMMUNITIES

Highrise 362 – 963 sq. ft. the low $500s • The newest addition to North Oshawa’s landmark U.C. Community • Moments to landmark amenities like RioCan Windfields, Costsco, Durham College, Ontario Tech University, and so much more.

• Over 21,653 sq. ft. of indoor and 26,128 sq. ft. outdoor amenity spaces including athletic facilities, yoga studios, work/tech lounge, event lounge, private dining, pet spa and so much more! contact: uctower3@mytribute.ca location: 2425 Simcoe Street North, Oshawa

developer: style: size: prices from: features:

TRIDEL

Midrise 1200 – 1500 sq. ft. $1,675,000 • Immediate Occupancy • South Facing Views • Private outdoor spaces • Convenient location • Lifestyle Amenities – Rooftop Pool, Fitness Centre, Party Room, Smart Home technologies contact: Tridel.com location: Dupont and Howland

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

HOT PROPERTIES | GREATER TORONTO AREA

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58 condolife magazine | Aug. 13–Sept. 10, 2022

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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

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LOCATION

SITE

TYPE

ADDRESS

CONTACT

Etobicoke..............................Mirabella ........................................................... HR ......................... 1926 Lake Shore Blvd. W. ..............................................mirabellacondos.ca Etobicoke..............................Westerly ............................................................ HR ......................... Islington & Dundas............................................................................tridel.com Etobicoke..............................Curio Condos .................................................. MR ......................... 801 The Queensway.......................................................... marlinspring.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 Markham...............................Gallery Towers at Downtown Markahm .. HR ......................... 162 Enterprise Blvd. .................................................downtownmarkham.ca Mississauga ..........................Perla Towers and Amber at Pinnacle Uptown HR ......................... 5044 Hurontario St. ..............................................pinnacleinternational.ca Mississauga ..........................Oro, at Edge Towers ..................................... HR ......................... 24 Elm Dr.W..........................................................................................solmar.ca Mississauga ..........................Artform Condos.............................................. MR ......................... 86 Dundas St. E. ............................ artformbyemblemdevelopments.com Mississauga ..........................Gemma at Pinnacle Uptown....................... HR ......................... 5044 Hurontario St. .................................................... pinnacleuptown.com North York ............................Express 2........................................................... MR ......................... Tippett Rd./Wilson subway............................................express2condos.ca North York ............................Central Park ..................................................... HR ......................... Sheppard Ave. East & Leslie St..................................................amexon.com North York ............................The Diamond .................................................. HR ......................... 5336 Yonge St.................................diamond.diamantedevelopment.com Oshawa .................................U.C. Condos Tower 3..................................... HR ......................... Simcoe St. N. & Winchester Rd. W. ....................tributecommunities.com Pickering ...............................Vupoint ............................................................. HR ......................... Kingston Rd. & Liverpool Rd...............................tributecommunities.com Scarborough ........................Pinnnacle Toronto East ............................... HR ......................... 3260 Sheppard Ave. E. .........................................pinnacleinternational.ca Scarborough ........................FourMe .............................................................. HR ........................ Markham Rd. & Ellesmere ............................................fourmecondos.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 Toronto .................................225 Jarvis Street Condos ............................ HR ......................... Dundas St. East & Jarvis ............................................................amexon.com Toronto .................................LeftBank ............................................................ HR ......................... River St. & Dundas St. East..................................................... broccolini.com Toronto .................................The Residences of Central Park ................. HR ......................... Sheppard Ave. East & Leslie ................................. centralparktoronto.com Toronto .................................The Dawes at Main Street ............................ HR ......................... Danforth & Main St. ..................................................................thedawes.com Toronto .................................Queen Church Condos ................................ HR ......................... 60 Queen St. East. .............................................................queenchurch.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 | Aug. 13–Sept. 10, 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

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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 | Aug. 13–Sept. 10, 2022

2 3

Mississauga

17

20 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..............................Bristol Place ..................................................... HR ......................... 199 Main St. North..............................................................................solmar.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.

Grimsby.................................Century Condos ............................................ HR ......................... Main St. East & Baker St. South....................................desantishomes.com

12.

Hamilton ...............................1 Jarvis .............................................................. HR ......................... 1 Jarvis................................................................................................1jarvis.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 .................................The Greenwich Condos at Oakvillage ..... MR ......................... Trafalgar Rd. & Dundas.........................................................branthaven.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.

Oakville .................................Greenwich Condos at Oakvilage............... HR ......................... Trafalgar Rd. & Dundas St. ...................................................branthaven.com

22.

St. Catharines.......................St. Kitt Urban Towns .....................................CTH........................ Oakdale Avenue & Merritt Street ......................... st.kittsurbantowns.com

23.

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

maps

Locate properties using the map on the previous page

64 condolife magazine | Aug. 13–Sept. 10, 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 60 Queen Steet East – Bazis / Tridel ...................................... 2 Bianca – Tridel........................................................................... 5 7 Black & Decker ....................................................................57, 65 Brand Factory............................................................................. 1 4

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Bristol Place – Solmar .........................................................3, 56 Central Park – Amexon .....................................................11, 56 Channel 13 ..................................................................................1 7 Condo Store, The...................................................................... 1 8 Cullen’s ........................................................................................ 4 2 Design District, The – Emblem ...................................... 56, 67 Dot Home Décor ...................................................................... 1 2 Gallery Towers – Remington Group ...............................9, 56 Highway of Heroes ................................................................... 3 5 Lusso – Lucchetta Homes......................................................6 8 McOuat........................................................................................ 1 6 Ready Set Reno ......................................................................... 1 5

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Amexon .................................................................................11, 56

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Emblem ................................................................................ 56, 67

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Lucchetta Homes .....................................................................6 8 Remington Group .................................................................9, 56 Solmar .....................................................................................3, 56 Tribute Communities ...................................................... 4, 5, 57 Tridel ........................................................................................2, 57

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@blackanddeckerca nexthome.ca 65

ADVICE | INDUSTRY REPORT

PROVIDING FUTURE RESIDENTS WITH HOUSING CHOICES IS

GOOD PLANNING DaVe WIlkeS

When it comes to accommodating projected growth in the GTA, the approach chosen by a region or municipality matters. Different approaches result in very different outcomes for future residents in terms of housing choice, mix, supply and ultimately housing affordability.

Recent decisions by two regions in the GTA illustrate this point. Durham has taken a pragmatic approach that will likely lead to a mix of housing choices for future residents, while Halton’s approach runs counter to provincial guidance and may severely restrict housing choice in the region in the future.

Any time there is an update to the province’s Growth Plan for the Greater Golden Horseshoe (GGH), regions and municipalities in the area must undertake a review to bring their official plans into conformity with the changes. This process is known as a municipal comprehensive review.

Many regions and municipalities in the GTA are currently undertaking municipal comprehensive reviews, stemming from changes to the Growth Plan made in 2019. These changes require municipalities and regions to plan to accommodate growth for the millions of new residents expected in the GTA and GGH by 2051. In other words, plans are being drawn up now for development 10, 20 and 30 years in the future, and these plans dictate the amount and type of housing that will be available then.

66 condolife magazine | Aug. 13–Sept. 10, 2022

The approach adopted by Durham regional council recognizes that depending on life stage, needs and preferences, some people may choose to live in a condominium, while others prefer a townhome, and yet others a single-family home.

Durham is therefore planning for intensification, but also setting aside land for medium-density and singlefamily homes. This is an example of planning that puts people first, and provides for choice in housing.

Durham’s approach also demonstrates that the Growth Plan – which encourages the development of compact communities that make efficient use of infrastructure and public services – is working.

Historically, suburban and rural regions of the GTA, such as Durham, built mostly low-density housing. Durham’s recent decision recommends that only 33 per cent of land under the Official Plan update be set aside for low-density housing – a significant reduction from historical levels. Some other GTA municipalities, including the regional municipalities of Peel and York, are adopting similar approaches as Durham.

Halton, by contrast, has adopted an approach that amounts to protecting existing residents’ housing choices but not providing new residents with the same opportunities. This approach runs counter to provincial guidance and will result in less choice in the housing mix over the next 30 years. Prospective homeowners who cannot find what they are looking for will have to look elsewhere.

Growth planning is a complex, difficult and often politically charged process. Most importantly, it is about planning to build communities for people. Providing for a mix of housing options ensures that future residents will find the home they want and need.

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.

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