Eastern Ontario New Home & Condo Guide - Apr 30, 2016

APR 30 - MAY 14, 2016 VOLUME 16, ISSUE 9, FREE

EASTERN ONTARIO EDITION

VISIT OUR ALL NEW SHOWHOMES

-O PULL UT SEC AL TI CI

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SP E

in Avalon Encore – Minto’s Premier Community in Orléans

CO

FEATURING

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INSIDE THIS ISSUE

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spotlight on condos U INIU M COMM

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WHY IT’S IMPORTANT TO LANDSCAPE YOUR NEW HOME

WHAT RETAIL EXPANSION MEANS TO REAL ESTATE

THE ART OF HOME TOUR SHOWCASES OTTAWA’S BEST

mintoavalon.com

Now Open VISIT OUR ALL NEW SHOW HOMES in Avalon Encore – Minto’s Premier Community in Orléans

These Show Home designs are also for sale in: Quinn’s Pointe, Barrhaven | Arcadia, Kanata Enclave at TrailsEdge, Orléans | Potter’s Key, Stittsville - coming soon!

Tour the Show Homes in Orléans

*Specifications are subject to change without notice. E.&O.E.

THE MARQUETTE SHOW HOME | 3,242 SQ. FT.

3 more spectacular new Show Homes you can tour!

Stanley – 2,450 sq. ft.

Georgian – 2,339 sq. ft.

Kinghurst – 1,785 sq. ft.

Come visit and tour these Show Homes today.

mintoavalon.com

Call or visit our Avalon Encore Sales Centre today

SALES CENTRE:

HOURS:

2370 Tenth Line Road

Monday - Thursday: 12pm to 8pm

613.834.6400

Friday: Closed

mintoavalon.com

Weekends & Holidays: 11am to 6pm Show Homes close 30 minutes prior to Sales Centre

ENJOY EXCEPTIONAL EXTRAS & DESIGN STUDIO CREDITS UP TO $25,000

Fairwinds West Offers You Outstanding Upgrades & Design Studio Credits

30' HOME, THE WILDFLOWER ‘A’ 1,924 SQ.FT. $349,990 INCLUDES: 9' MAIN FLOOR CEILINGS, REC. ROOM READY, HEARTH & HOME & $20,000 AT DESIGN STUDIO

KANATA Townhomes

Detached Homes

From 269,990

From $319,990

$

SALES CENTRE 1776 Maple Grove Road 613-831-9369

34' HOME, THE FERNHAVEN ‘A’ 1,744 SQ.FT. $354,990 INCLUDES: 9' MAIN FLOOR CEILINGS, REC. ROOM READY, BATH OASIS, NEXT STEP & $25,000 AT DESIGN STUDIO

SALES CENTRE HOURS

Monday - Thursday 1 pm-8 pm; Friday 1 pm-6 pm; Saturday, Sunday and Holidays 11 am-6 pm

MODEL HOME HOURS

Monday - Thursday 1 pm-7:30 pm; Friday 1 pm-5:30 pm; Saturday, Sunday and Holidays 11 am-5:30 pm

Wintergreen Model Home in Fairwinds West, Kanata

ELEV. ‘A’

2-STOREY TOWNHOME, THE FERNWATER ‘A’ 1,517 SQ.FT. $269,990 INCLUDES: 3 STAINLESS STEEL APPLIANCES, REC. ROOM READY, HEARTH & HOME, LOOKOUT BASEMENT, HARDWOOD IN LIEU OF CARPET ON MAIN FLOOR, CERAMIC TILE IN LIEU OF VINYL, GRANITE IN KITCHEN & AIR CONDITIONING

36' HOME, THE PARKSIDE ‘B’ 2,669 SQ.FT. $439,990 INCLUDES: 9' MAIN FLOOR CEILINGS, REC. ROOM READY, GLASS SHOWER ENCLOSURE, NEXT STEP & $25,000 AT DESIGN STUDIO

43' HOME, THE WESTLYNN ‘A’ 2,907 SQ.FT. $479,990 INCLUDES: 9' SECOND FLOOR CEILINGS, WAFFLE CEILINGS, GLASS SHOWER ENCLOSURE, NEXT STEP, REC. ROOM READY & $25,000 AT DESIGN STUDIO

MATTAMYHOMES.COM All illustrations are artist’s concept. All dimensions are approximate. Prices, specifications, terms and conditions subject to change without notice. E.&O.E.

Iconic Homes and Communities

THE GRIFFITH STARTING FROM $536,000

VISIT IN RICHARDSON RIDGE

THE PALMER TOWNHOME STARTING FROM $387,900

THE WINDERMERE STARTING FROM $687,000

VISIT IN THE ORCHARD

VISIT IN THE ORCHARD

THE MASSEY STARTING FROM $633,500 VISIT IN RICHARDSON RIDGE

THE MINDEN TOWNHOME STARTING FROM $355,900 VISIT IN THE ORCHARD

THE KAWARTHA STARTING FROM $751,000

VISIT IN RICHARDSON RIDGE

THE DOUGLAS LOFT STARTING FROM $632,500 VISIT IN THE ORCHARD

Sign up online to receive Community Updates and exclusive access to new releases!

uniformdevelopments.com

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Experience our beautiful model homes at Richardson Ridge and The Orchard and see for yourself Uniform’s commitment to quality home design and construction. In both communities you’ll find exceptional single-family homes and townhomes to choose from, all designed by Barry J. Hobin.

JOIN US ON THE ART OF HOME TOUR STONEBRIDGE

THE ORCHARD SALES CENTRE HOURS Mon – Thurs: 12 – 7pm Fri – Sun: 12 – 5pm 532 Kilspindie Ridge (via 3699 Jockvale Road) 613.491.1202

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SALES PAVILION HOURS Mon – Thurs: 12 – 7pm Fri – Sun & Holidays: 12 – 5pm 417

100 Grand Manan Circle (corner of Huntsville Drive and Grand Manan Circle) 613.435.7751

May 14-15, 2016 • 11am - 6pm Ottawa East, West & South www.ArtofHomeTour.com

The Perfect Fit for Downsizers and First-Timers

SEMI-DETACHED

BUNGALOWS

299,900

$

from

If you’re looking to downsize or purchase your first home, consider the advantages of Tartan’s beautiful and spacious Semi-Detached Bungalows in Russell Trails. They’re spacious, feature large gourmet kitchens, Craftsman style exteriors, one or two bedrooms, no condo fees—plus all are ENERGY STAR® qualified to the most current energy efficient standards. Visit online or better yet, visit us in person in beautiful Russell Trails, located in the historic Village of Russell.

$10,000*

Signing Bonus PLUS Granite** Kitchen Countertops Limited time only Must purchase by May 28, 2016. *Cannot be combined with any other promotional offer. **Granite countertops are 1 1/4” thick with choice of 4 colours and 3 edge profiles.

TWO BEAUTIFUL DECORATED MODELS OPEN FOR VIEWING 19 York Crossing, Russell ON

TARTANHOMES.COM

About 25 minutes from downtown Ottawa 613-496-0168 | russelltrails@tartanhomes.com

B U I LT B E T T E R

•

LOOK BETTER

•

LIVE BETTER

The ENERGY STAR® mark is administered and promoted in Canada by Natural Resources Canada. Used with permission. E.&O.E. Bonus offers subject to change without notice.

HERE’S A NEW PLAN TO GET YOU MOVING! NOW AVAILABLE IN KANATA

DINING / BREAKFAST

MAIN BATH

INTRODUCING THE BROOKSIDE

LARGE OPEN CONCEPT LIVING

SMART , STYLISH & AFFORDABLE 4 BEDROOM HOME FROM ONLY

4 LARGE FAMILY-SIZED BEDROOMS

$389,990 8

LARGE DOUBLE CAR GARAGE LARGE COUNTRY KITCHEN & DINING AREA BONUS FINISHED BASEMENT

THE BROOKSIDE - 2201 SQ.FT.

*

LOCATION

RD. IDE PE S HO

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416

SALES OFFICE

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HOURS: Monday to Thursday 1pm – 8pm Friday 1pm - 6pm Weekends & Holidays 11am – 6pm

417 D. NR SO GLE EA

287 Meadowbreeze Dr. Kanata, Ontario

WINNER OF THREE 2015 GOHBA SAM AWARDS

613-595-0591

Discover more at glenviewhomes.com PRICES, SIZES AND SPECIFICATIONS ARE SUBJECT TO CHANGE WITHOUT NOTICE. RENDERING IS ARTIST’S CONCEPT. E.&O.E. *PRICES SHOWN NET OF INCENTIVE. ASK SALES FOR DETAILS.

Move in ready homes This spring Claridge Homes kicks off the new season, and the anniversary of our 30th year, with our best offers yet. As Ottawa’s largest builder of homes and condominiums we have plenty of move in ready homes waiting for you across the city. Ready immediately or in as little as 16 weeks, we have homes big and small that will fit your needs and inspire you to design it your way.

STOCKHOLM II B

TRILLIUM 3 Bed

Available in 16 weeks 2680 sq ft Single Home (Lot 153) Over $20K in upgrades $507,900 Now $497,900

Immediate Availability 2205 sq ft Townhome (Block 23 Unit 33) Over $10K in upgrades $359,900 Now $353,900

TRILLIUM 3 Bed

new LOTUS II

Available June 2016 2205 sq ft Townhome (Block 12 Unit 62) $3K Design Centre Bonus Only $342,900

Immediate Availability 1135 sq ft Zen Urban Flat (Block A Level 1 Unit 6) Over $10K in upgrades $214,900 Now $204,900

QUeenSBy IV

UnITy

Immediate Availability 1705 sq ft Townhome (Block 36 Unit 189) Over $60K in upgrades $363,900 Now $339,900

Immediate Availability 1875 sq ft Townhome (Block 10 Unit 53) Over $30K in upgrades $391,900 Now $385,900

THe MAJOR’S HILL

THe BReweR

Immediate Availability 1295 sq ft 3 Bed Condo Flat (Block A Unit 306) Only $349,900

Immediate Availability 940 sq ft 2 Bed Condo Flat (Block B Unit 101) Only $260,900

*$10,000 design centre bonus on all singles and $3,000 on townhomes (new builds only)

design it your way Purchase a new Claridge home today and receive up to $10,000 in Design Center Dollars!*

Build your dream home Claridge is pleased to announce the launch of its new redesigned line of single-family homes across the city. In addition to a variety of luxurious features, including upgraded lights, faucets and expanded ensuites with larger showers to name a few, Claridge is offering more exterior options which will create a vibrant and family-friendly streetscape. Combining top locations and exceptional value, we deliver the lifestyle you want, at a price you can afford.

View our new models View our newest set of single family model homes today! 7 decorated models are available for viewing across the city. Visit us at West Pointe Village (500 Peerless Street, Barrhaven), Summerhill (585 Summerhill Street, Riverside South) and Spring Valley Trails (160 Esterbrook Drive, Navan).

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

moreStyle

contents APR 30 - MAY 14, 2016 | VOLUME 16 ISSUE 9

PRESIDENT, YELLOW PAGES NEXTHOME

Jacqueline Hill EDITOR-IN-CHIEF / DIRECTOR OF CONTENT

Susan Legge DIRECTOR OF SALES, NATIONAL

Moe Lalani SALES MANAGER, EASTERN ONTARIO

Paul Bimm EDITOR

Wayne Karl ART DIRECTOR

Megan Pike CONTRIBUTING EDITORS

ON THE COVER

24

Minto

Avalon Encore launches single-family showhomes

C06

SALES CO-ORDINATOR, EASTERN ONTARIO

030 Homebuying

Canada’s most millennial friendly housing markets

032 Retail Expansion

Canada’s top 10 malls and one reason to buy near them

Spotlight on Condos

Your guide to new condo communities in the Gatineau and Greater Ottawa Area

The benefits of owning versus renting

C16 Home Smarts

by Marnie Bennett

043 What’s Online

C18 Mortgage Advice

What to consider before buying an investment property

by Aylssa Richard

+ online

property profile

C06 ArtHaus Condominiums The pinnacle of residential luxury in Ottawa

trending

024 Art of Home Tour

A spectacular showcase of Ottawa Homes

Bala Gnanapandithan PRODUCTION CO-ORDINATOR

Miguel Cea Mike Terentiev

C12 Money Matters

036 Mortgage Rates

042 Neighbourhood Profile

PRODUCTION MANAGER

by Wayne Karl

The importance of landscaping your new home

040 Advertisers Index

John Jenkins

Why we need context, not just data, on foreign investors

014 Editor’s Note 038 Hot Properties

NATIONAL CIRCULATION MANAGER

GRAPHIC DESIGNERS

by Gail Vaz-Oxlade

in every issue

Sarah Khan

Dennis Ng

advice

C10 Fundamentally Speaking Condo Insert | C01-C20

Sonia Bell, Sara Duck (on leave), Elisa Krovblit, Jackie Marchildon, Lydia McNutt (on leave)

NEIGHBOURHOOD

HOME SEARCH

MORE +PHOTOS +VIDEOS +ADVICE +INSPIRATION +TRENDING

WITH

DYNAMIC MAPS

LOOK FOR THE CIRCLE

PUBLISHED Saturdays, 2016 Publishing Schedule:

Bi-weekly Jan.-June and Aug.-Nov. Monthly: July & Dec. 1 ADVERTISING Call 416.626.4200 for advertising rates and information.

CIRCULATION Free distribution in select hightraffic street boxes, stores, banks, financial institutions and select condominium sales offices.

COPYRIGHT 2016 All rights reserved by Yellow Pages Homes Limited. Reproduction in any form is prohibited. Contents of this publication are covered by copyright and offenders will be prosecuted under the law.

TERMS Advertisers, editorial content and New Condo Guide are not responsible for typographical errors, mistakes or misprints. All prices are correct as of press time and are subject to change without notice. E. & O. E. EDITORIAL Submissions from interested parties will be considered. Email to susan.legge@ ypnexthome.ca. The views and data expressed by columnists do not necessarily represent those of the publication.

Please recycle this magazine! Yellow Pages NextHome participates in the Partners in Growth Reforestation Program through St. Joseph Communications. To date, Partners in Growth has planted over 2.5 million trees in parks, recreation and conservation areas, and other public spaces across Canada. Established in 1990, this program was started with Scouts Canada to help replenish the environment.

Editors’ Notes

BYWARD MARKET

SUSAN LEGGE Editor-in-Chief / Director of Content Yellow Pages NextHome Email: Susan.Legge@ypnexthome.ca Twitter: @SusanLegge

MORE PHOTOS ONLINE nexthome.yp.ca/byward-market

Helping you in your journey As you review this issue, we hope the journey toward the discovery of your new home meets your expectations.

It’s important to bring a fresh perspective when shopping for a new home or new condo. Unlike a resale property, it’s an opportunity to own a new abode outfitted with the finishes and features that you want, not what the previous owner left behind.

Looking for more home options, news and advice? Visit us online

and enjoy an enhanced journey that includes neighbourhood facts and data, as well as a rich listing experience with visuals and floorplans. You’ll be able to connect easily when you see something you love.

We even provide exclusive video tours of some of Eastern Ontario’s best neighbourhoods. Check out this issue’s feature neighbourood, Byward Market, as noted above.

Visit us at YPNextHome.ca

Millennials, welcome to Ottawa

WAYNE KARL Senior Editor Yellow Pages NextHome Email: Wayne.Karl@ypnexthome.ca

+ get social

Ottawa and other areas of Eastern Ontario often get the short shrift.

Toronto, Vancouver and other “hot” markets in Canada are usually the ones cited for real estate performance, price growth and other headline making news.

But perhaps there is one development Ottawa and area should be thankful they’re not a part of.

As our story on page 30 illustrates, in painful detail in some cases, prospective homebuyers among the millennial crowd (ages 18 to 34) in some parts of the country face some pretty alarming scenarios.

Until we look at Ottawa.

The recent Bank of Montreal Millennial Home Buyer Report discusses what these would-be buyers expect to pay for their first home. But then the Royal LePage House Price Survey for the first quarter of 2016 – so, actual numbers – reveals the harsh reality many millennials face.

Ottawa, on the other hand, fares very well in this context, home to one of the few markets in Ontario where affordable housing types include more than just condos.

Millennials, welcome to Ottawa.

Interact with us on social media: ypnexthome

success plus final release makes last chance!

Your final opportunity to be part of the spectacular success of Greystone Village Phase 1!

Nestled between the Rideau River and Rideau Canal, Greystone Village is a 26-acre, masterplanned community of homes set around a vibrant central plaza, complete with pathways, promenades and trails. Live a life of elegance and exclusivity in a scenic riverfront setting, just minutes from downtown.

Phase 1 Final Release of Singles, Condos & Towns in Old Ottawa East from the $300’s

GREYSTONEVILLAGE.CA Metcalfe Exit ay nsw ee Qu

PRESENTATION CENTRE

Rideau River

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sales@greystonevillage.ca

Queen Elizab eth Dr.

Illustration is artist’s concept E.&O.E.

Rideau Canal

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613.569.3043

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417

St. Paul University Brantwood Park

Southbound only

2 UNIQUE CUSTOM DESIGNS | ONLY 2 NEW HOMES AVAILABLE A RARE OPPORTUNITY TO OWN IN THIS EXCLUSIVE COMMUNITY | ACT NOW

The Rogue 2,859 sq. ft.

Artist’s Rendering of the Rogue. E. & O.E.

THE ROGUE vs THE GREYSON Vote for Your Favourite. Visit campanale.com/pow

The Greyson 3,049 sq. ft.

Artist’s Rendering of the Greyson. E. & O.E.

Inquire today at

613.290.2262 or email: santana@campanale.com

MAY 14 & 15

YOUR NEW HOME IN BARRHAVEN IS CLOSE TO: LONGFIELDS BUS STATION • SOUTH NEPEAN PARK • AND SCHOOLS

URBAN TERRACES STARTING AT

Features Include:

$191,900

2 Bedrooms

• Two-Storey Homes with 1,131 to 1,280 sq. ft. of Total Usable Space.

• 6 Appliances Included!

Secure Yours Today. Limited Availability!

THE STATION CONDOS STARTING AT

Features Include:

$224,900

• An Elevator • Heated Underground Parking • Upgraded Interiors & a Storage Locker

1 and 2 Bedrooms

12 Unique Designs Available!

EXECUTIVE TOWNHOMES STARTING AT

$342,900

Features Include:

3 and 4 Bedrooms

Wide Selection • Oversized Lots of Models Available!

• 9' ceilings on main floor • Simplified Heat Recovery Ventilator (HRV)

Model Home & Sales Centre

600 Via Campanale Avenue, Ottawa ON

613.440.3750

longfields@campanale.com

Since 1958

Bungalows

$10,000 Design Bonus* ...

+

Two Storeys

Features include: Hardwood Floors, 3 Appliances, 3 Bedrooms, 2½ Bathrooms, Finished Recreation Room, Granite Kitchen Countertop, Air Conditioning and More...totalling $9,000 to $14,000 in upgrades. *See Sales Representative for details which may vary from selected inventory homes.

STARTING FROM FREEHOLD TOWNS

$336,900

BUNGALOWS

$430,900

TWO STOREYS

$468,900

Prices, sizes and promotions are subject to change without notice. Renderings are artist’s concept. See Sales Representative. E.&O.E.

996 Rotary Way

Sales representative:

Claude Tessier ctessier@maisonslemayhomes.ca

613-425-5255

(off Bank Street near Leitrim Road)

Sales office hours: Mon – Thurs: 12pm – 7pm, Friday: Closed, Sat – Sun: 12pm – 5pm

LEMAYhomes.ca

Leitrim Road Rotary Way Sales Office

Rotary Way

Townhomes

IMMEDIATE OCCUPANCIES AVAILABLE

Bank Street

8 units Move-in Ready

single family home collection

Our homes are all about the details–

It’s the Richcraft difference.

Our Single Family Home Collection offers you the choice of our Traditional Crafstman or Modern Contemporary award-winning designs. Light filled and open. Spacious and functional. Quality inside and out.

Riverside South 744 Brian Good Ave. 613 491 0834

Trailsedge (Orleans) 6151 Renaud Rd 613 424 6600

Fernbank (Stittsville)

332 Bobolink Ridge 613 435 1183

Fieldstone (Barrhaven) 302 Longfields Drive 613 440 5225

richcraft.com

New Prices - Condos from

BARRHAVEN CONDO LOFTS 1110 Sq Ft 2 Bedrooms 2 Bathrooms

Affordable Value in Barrhaven 194 Springbeauty Ave. Call (613) 440-0304 * See sales consultant for details. Prices, terms and speciďŹ cations are subject to change without notice. E & O.E.

APR 30 - MAY 14, 2016 VOLUME 16, ISSUE 9, FREE

EASTERN ONTARIO EDITION

EXPERIENCE THE ART OF LIVING

YOUR PULL-OUT GUIDE to highrise, conversion, loft, terrace & townhome condo projects

spotlight on condos C2

VISIT US TO DISCOVER OTTAWA’S NEW STANDARD Located in the renowned Arts Court district, steps to the Parliament Buildings and in the heart of the city’s most desirable Byward Market neighbourhood

SALES GALLERY NOW OPEN 264 Rideau Street, Ottawa Monday to Thursday: 12 : 00 pm to 6 : 00 pm Weekends and Holidays: 12:00 pm to 5:00 pm (closed on Fridays) ARTHAUSCONDOS.COM | 613.909.3223 | SALES@ARTHAUSCONDOS.COM © DevMcGill All rights reserved 2016. Specifications are subject to change without notice. Rendering is artist’s concept.

Exclusive Listing Brokerage: TradeUp Real Estate Inc., Brokerage. Brokers Protected. E. & O.E. 2016.

MORLEY HOPPNER & BARRY HOBIN ARCHITECTS

HAVE DONE IT AGAIN! “Finally, a condo builder who operates

“We’re moving from one nice space to

like a custom home builder.”

another but leaving all the work behind.”

- Lauchlin & Doreen McMullin

- Marion and Bob Molloy

“After

25 years tending our family home in Kanata, we jumped at the opportunity to purchase our next home from Ken. We feel lucky getting the type of space we want in the community we still love!”

“We were able to customize our unit to fit us, we didn’t have to conform to cookie cutter condos. We loved the access we had to meet with decision makers such as Ken.” - Judy Rash & Jan Meyer

- Doug and Theresa Norris

TWO THE PARKWAY

THE ONLY MODERN HIGH-RISE CONDO BEING BUILT IN KANATA, AND IT’S IN BEAVERBROOK!

BEAVERBROOK

MOVE IN THIS FALL

2016

CL CL W/D

CL

FP

CL

DW

2 BEDROOM + DEN

Two The Parkway's average square foot price is 20% lower than any comparable condo in downtown Ottawa.

1280 Square Feet

16 Units Remaining – One Opportunity TwoTheParkway.com

Call us today and let’s talk about customizing the layout of your new home in Beaverbrook 613.519.1489 | live@twotheparkway.com

spotlight on condos

THE HAMPSTEAD

Presentation Centre: 2 The Parkway, Kanata, Ontario Hours: 12pm - 5pm Saturday-Thursday (Closed Friday) or any time by appointment.

C3

DOWNTOWN LIVING RICHCRAFT STYLING

spotlight on condos

A STATEMENT THAT YOU’VE ARRIVED Walk through the charismatic entrance doors and you’ll discover The Bowery’s sleek Lobby and Lounge.

NOW UNDER CONSTRUCTION AT 255 BAY ST. Presentation Centre, 136 Bank St. 613.695.7577

thebowerycondos.ca C4

BUY BY MAY 1ST AND RECEIVE

$10,000

WORTH OF UPGRADES!*

Terrace and Freehold Towns 1, 2 and 3 bedroom homes available. All homes include parking!

IMMEDIATE OCCUPANCY

2 Fully Furnished Models On-Site to View IN THE HEART OF HUNT CLUB. Just steps away from shopping, parks, movie theatres, and restaurants.

$179

From

900

E&OE April 2016

Sales Centre - 3650 Downpatrick Rd.

huntclubtowns.com

SALES CENTRE HOURS: By appointment only

*Only applicable to homes in Block 6. Upgrades include: Granite kitchen countertop, Hardwood on mainfloor, Air conditioning and a Finished basement

spotlight on condos

Exclusive Real Estate Brokerage

C5

Property Profile | DEVMCGILL

condo cover story

ARTHAUS spotlight on condos

The pinnacle of residential luxury are the four penthouses to be released at ArtHaus in Ottawa

C6

Location

20 Daly Ave., Ottawa Builder

DevMcGill Development

ArtHaus Condominiums Home Type

444 to 1,768 sq. ft.

Sales Centre

264 Rideau St. Contact

613.909.3223 sales@arthauscondos.com

HIGH ATOP OTTAWA’S TRENDY BYWARD MARKET and the centre

of creativity that will be Arts Court, ArtHaus Condominiums will be releasing the exclusive offering of just four Penthouse Residences that will crown Canada’s most unique and future-forward looking urban development.

ArtHaus will bring style, sophistication and a splash of distinct panache which will define new condominium living to the nation’s capital. ArtHaus is a project

by DevMcGill Developments, an award-winning urban residential developer who for the past 20 years has built more than 18 residential condominium projects in Montreal worth close to $400 million.

With spectacular and unobstructed views overlooking the ByWard Market and downtown Ottawa, the four ArtHaus Penthouses will offer the finest in residential living atop Canada’s most innovative mixed-use urban development.

ArtHaus Condominiums will be the

residential component of Arts Court, a forwarding-looking multi-partnered take on downtown residential living in Canada. Arts Court will also contain a chic world-class boutique hotel, theatre space, an arts gallery and exciting and hip urban retail – all of this located in the centre of one of the country’s most chic, eclectic and inspirational neighbourhoods.

Arts Court is a joint venture of the

City of Ottawa, the Ottawa Art Gallery (which will be doubling its exhibition space), the University of Ottawa, which will oversee the programming of the new 1,600-sq.-ft. theatre, and Group Germain, launching the first of its world-renowned hotels in Ottawa.

Combining desired retail, the epicentre of arts in the capital, entertainment and Ottawa’s firstever European-inspired hotel, the

Arts Court development will, in many ways, demonstrate the future possibilities in creative thinking and a multi-partnership approach in condominium living in Canada. How world-class leaders in their respected fields can work together in bringing together all the desired aspects of urban downtown living.

The four penthouse residences will range in size from 1,143 to 1,637 sq. ft. and begin from $1 million. Befitting the importance and location of these residences, DevMcGill partnered with award-winning U31 Design of Toronto in designing these dramatic suites.

In bringing its creativity and thought-provoking inspiration to these residences, U31 Design has the four penthouses featuring upgraded features and finishes from the rest of the 85 residences available, fluid and open floorplans for flexibility in everyday living as well as entertainment and hosting options, and an infusion of natural light and open-air terraces as an extension of private living spaces.

U31 Design also designed the generous amenities featured at ArtHaus, to include a fitness centre and lounge areas to promote a socially active and engaged lifestyle for building residents.

The ideal location of ArtHaus in the centre of Ottawa features a walk score of 98 and a transit score of 93, certain to improve as the new LRT Station opens in 2018. The development is nearby The Rideau Centre, with the University of Ottawa within walking distance, and will be completed in 2017.

To find out more about the release of the exclusive four Penthouse Residences at ArtHaus, visit the sales gallery at 254 Rideau St., open Monday to Thursday from noon to 6 p.m., Saturday and Sunday from noon to 5 p.m., closed Friday, or visit online at arthauscondos.com

APR 30 - MAY 14, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO C7

Your new home on Dow’s Lake

spotlight on condos

Be a part of something Iconic

C8

Claridge Homes is raising the bar with a bold, organic tower rising 45 storeys above Ottawa. Claridge has been redefining Ottawa’s skyline for 30 years, and now we’re proud to bring Claridge_Icon to the community.

Find your new home in the heart of Little Italy, where stunning views of Dow’s Lake are available for as low as $291,000.

www.claridgeicon.com 485 Preston Street, Ottawa 613.695.1441

under ConstruCtion Available April 2019

moreValue

Move-in ready units. up to $10,000 in designer finishes included! sTIRLInG PARk | MERIvaLE Now occupying! 1 & 2 bedroom units starting from $247,000 330 Titan Private, Unit 107, Ottawa 613-224-0330 WATERsTREET | LOwERtOwN Now occupying! studio, 1 & 2 bedroom units starting from $192,000 316 Bruyère Street, Unit 112, Ottawa 613-680-6560 CLARIDGE PLAZA 3 | RIdEau stREEt Models now open! Move-in ready 1 & 2 bedroom units starting from $311,000 244 Rideau Street, Ottawa 613-241-3235 File is half size FINAL: 48” x 48”

CLARIDGE PLAZA 4 | RIdEau stREEt Now occupying! studio, 1 & 2 bedroom units starting from $230,000 244 Rideau Street, Ottawa 613-241-3235

fusIon | LEBREtON fLats Models now open! Move-in ready 1, 2 & 3 bedroom units starting from $288,000 300 Lett Street, Ottawa 613-232-2049 TRIbECA | dOwNtOwN MEtcaLfE Models now open! Move-in ready 1 & 2 bedroom units starting from $351,000 56 Nepean Street, Ottawa 613-234-1780 TRIbECA EAsT | dOwNtOwN MEtcaLfE Now occupying! studio, 1 & 2 bedroom units starting from $245,000 56 Nepean Street, Ottawa 613-234-1780

moreChoice

CLARIDGE ICon | LIttLE ItaLy Now under construction! 1 & 2 bedroom units starting from $291,000 485 Preston Street, Ottawa 613-695-1441

THE LofTs AT TRIbECA | dOwNtOwN MEtcaLfE Now under construction! 1 & 2 bedroom units starting from the mid $400s Includes underground parking 56 Nepean Street, Ottawa 613-234-1780

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Advice | FUNDAMENTALLY SPEAKING

Why we need context, not just data, on foreign investors

By Wayne Karl

IMAGINE A HOUSE of cards – or a

game of Jenga – where one wrong move could cause everything to come crashing down. This is the fear some have when it comes to foreign investors in Canadian real estate.

The concern is that foreign buyers– those who live elsewhere but buy properties in Canada and rent them out – are driving up home prices, particularly in hot markets such as Vancouver and Toronto. This offshore demand is leading to, some believe, an artificial and unsustainable market which could cause a crash if for any reason these owners pulled out or sold their homes en masse.

“People are concerned that foreign buyers are coming in and buying too many properties and driving the prices up,” says Ben Myers, senior vice-president, market research and analytics, Fortress Real Developments.

“That is the big concern.”

Canada Mortgage and Housing Corp. is taking steps to address this “data gap,” by scheduling meetings with industry stakeholders and other measures. In Budget 2016, Prime Minister Justin Trudeau promised to get a better handle on the issue.

Some of these foreign buyers are paying cash – given that Canadian properties are a relative bargain compared to prices back home for Chinese buyers, for example.

This means they’re not borrowing from Canadian banks or requiring insurance from CMHC, further contributing to the dearth of data.

Without such transparency, it could fall on real estate agents and lawyers to report such transactions.

MORE ADVICE ONLINE nexthome.yp.ca/waynekarl

The problem with this scenario, points out Don R. Campbell, well known real estate investor and author, is that “data without action or policy is just knowledge.” There is nothing currently in place preventing foreigners from purchasing Canadian real estate.

“I’m a stats guy,” adds Myers.

“I’d love to see the information, but I think we have a pretty good idea that residential real estate sales activity to non-domestic buyers is pretty isolated to Toronto and Vancouver. Should Canadian taxpayers in every other metro area be on the hook for the cost of collecting this info?

“If we find out foreign buyers own 1.2 per cent of Canadian residential dwellings – 3.5 per cent in Toronto units and 6.1 per cent in Vancouver – then what? How much will it cost to take the next steps?

“Even if you had the proper data and the world’s best econometricians, you could never know what a home would have sold for if a foreign purchaser didn’t buy it,” says Myers.

Campbell says any such data would be “incredibly inaccurate, given the many ways in which the ultimate purchaser can hide who is buying.”

He also points out that The Personal Information Protection and Electronic Documents Act (PIPEDA) could limit any disclosure. PIPEDA sets out ground rules for how private sector organizations may collect, use or disclose personal information in the course of commercial activities.

Wayne Karl is an award-winning writer and editor with experience in real estate and business. In Fundamentally Speaking, Wayne explores the basics – such as economic fundamentals – you need to examine when buying property. He can be reached at wayne.karl@ypnexthome.ca or follow him on Twitter at Twitter.com/WayneKarl

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Advice | MONEY MATTERS

Owning versus renting

By Gail Vaz-Oxlade

MORE ADVICE ONLINE nexthome.yp.ca/news/advice

THE HOUSING MARKET has gone wild with people panting for good investment opportunities. Slow down and consider all the angles before you dive into homeownership.

There’s something about money Did you see that? The issue has shifted from “shelter” to “profit.” That’s because people believe that a home is a good investment.

While money is a key consideration, it shouldn’t be the only one. If you’re going to make the move from renting to buying, look at the dollars and cents.

First there’s the straight calculation that compares the cost of carrying your own home (your principal and interest payments and property taxes) with the cost of renting one.

Renters aren’t responsible for maintenance. Homebuyers also need to consider closing costs which include legal fees, land transfer tax, and other miscellaneous expenses that you avoid by renting. First and last months’ rent is also much less than the typical down payment on a home.

Of course, when you own, no matter how small the principal portion of your mortgage is (and it’s miniscule in the early years), as long as the market is stable, and you’re not looking to make a quick sale, homeowners are building equity and increasing their net worth with every mortgage payment. And when you sell your principal residence one day, the money earned is tax free.

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While money is a key consideration, it shouldn’t be the only consideration. If you’re going to make the move from renting to buying, look at the dollars and cents.

It’s a wonderful life When I was in my 20s, I lived in a neighbourhood that was suited to a single girl hell-bent on a good time. Back then, renting was the perfect solution: one of limited responsibilities and commitment.

Renting is virtually a worry-free existence — assuming you have a decent landlord.

Homeownership is a responsibility that also brings a ton of warm, fuzzy feelings. It means you can put down roots. You have complete control of your environment so, yes, you can paint your living room red.

Location, location Buying a home in a neighbourhood you don’t know well is one a common mistake. If you’re new in town, consider renting for six months or a year to get a feel for the area. If you like living there, you’ll feel more comfortable buying a home.

Steady as she goes Your employment prospects should be stable before you consider buying a home. Homeownership requires a number of regular payments — mortgage, property taxes, utilities, maintenance and insurance. Missing any of these payments can trigger dire consequences.

There are a number of financial factors to consider when it comes to buying versus renting. But the decision involves much more than just running the numbers. You’ve also got to look at the emotional rewards and challenges of each alternative.

I’ve been a renter and I’ve been an homeowner, and overall I like ownership more.

Gail Vaz-Oxlade is the host of Til Debt Do Us Part, author of Debt Free Forever and blogs daily at gailvazoxlade.com.

Follow Gail on Twitter at twitter.com/ GailVazOxlade.

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Advice | HOME SMARTS

Don’t curb the curb appeal!

The importance of landscaping your new home

By Marnie Bennett

MORE ADVICE ONLINE nexthome.yp.ca/news/advice

THE FIRST TIME YOU PULL UP in front of your newly completed home, you should be dazzled. Here it is – your carefully selected architectural model, brick, trim colours, front porch – exactly as you wanted. Welcome home, indeed!

The good news is that your home’s curb appeal is only going to get better. How? Well, the one aspect that usually remains to be completed is the landscaping. (The exception here is for condominium properties, which tend to include full landscaping and lawn maintenance.) Most of you will be met with a nice green lawn and, often, the single planted tree that many builders include among their standard features. That’s a great start – but it’s only a start!

Now, I’m not recommending that you go over-the-top in terms of money or style. Gazebos and waterfalls are lovely, but simple gardens can be just as beautiful.

Trees in particular are one of the best investments you can make: they increase in value every year until they reach maturity. Trees add beauty, shade and a sense of neighbourliness to your home and the whole community – just think how dramatically a streetscape is changed when a big oak or maple is struck down by lightning. As an added benefit, large shady trees can decrease both your air-conditioning costs in summer and, acting as a windbreak, your heating costs in winter.

C16 YPNEXTHOME.CA

When selecting a tree, talk to an expert at your local nursery. They’ll help you decide on the right tree and the proper location, taking into account such variables as your home’s exposure to sun and wind, the size of a tree’s root system and the amount of upkeep necessary.

Keep in mind, you don’t need to have a green thumb to have gorgeous gardens. Again, rely on your nursery experts to help you choose low-maintenance plants. Planting perennials (plants that return each year) is one way to reduce labour. If you time it right, you can often pick up incredible flowers, shrubs and ornamental grasses for half-price towards the end of summer.

The love you give your lawn will not only increase your enjoyment of your home, it will also pay off

years down the road when you put your home on the market. Take it from me: great landscaping can dramatically increase interest from buyers, and can definitely boost your asking price. So get out there and get your hands dirty!

To receive a free copy of a new special report titled “Homebuyers: How to Save Thousands of Dollars When You Buy” email sales@bennettpros.com Marnie Bennett is a broker and team leader for Bennett Property Shop Realty, a full premium service real estate brokerage specializing in marketing and selling new and resale homes, condominiums and investment real estate. Marnie is the host of the weekly radio show the Real Estate Hour, a millionaire real estate investor and a wealth management coach. bennettpros.com

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Advice | MORTGAGE ADVICE

What to consider before buying an investment property

By Alyssa Richard

MORE ADVICE ONLINE nexthome.yp.ca/news/advice

AN INCOME PROPERTY can be a good way to make money, especially in retirement. However, there are some things you need to think about before taking the plunge.

Here are the advantages and disadvantages of buying an investment property:

Advantages You can use leverage: If you have equity in your home, you can use it to help finance the purchase of another property. In a low-interest rate environment, mortgage rates are lower as are the costs of buying a income property. You’ll build up more equity when you earn rental income to pay down the mortgage. In the future, you could use that additional equity to buy another property or properties but you should ensure you can make larger mortgage payments when rates increase.

You can earn additional income regularly: As long as you have a tenant, you’ll earn monthly income on a regular basis. The more investment properties you have, the more you could potentially earn. You don’t often get regular income from other types of investments.

You get tax deductions: While you’ll earn rental income, you’ll also be able to deduct any expenses.

Advertising, insurance, maintenance and repairs, property taxes, and legal fees are just a few of the expenses that are deductible. It’s best to consult with your accountant to find out what costs you can deduct.

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Disadvantages You may need additional financing: If you want to buy a multi-unit property and intend to live in it, you’ll need a down payment of between five and and 10 per cent, depending on the total number of units in the property.

But when you purchase a property you don’t plan to live in, you need to put down a down payment of at least 20 per cent. Also, some lenders won’t recognize 100 per cent of the potential rental income you might expect to earn; some may consider just 50 per cent, while other lenders might consider 80 per cent. In other words, you could be forced to make a bigger down payment to qualify for a mortgage.

You might not always have a tenant: Ideally, you’ll earn enough rental income to cover your annual costs. However, you’ll still need to make mortgage payments without a tenant. You should be prepared for the worst and have an emergency fund for the times you don’t have someone to rent your place.

Your property isn’t a liquid investment: If you own stocks or bonds, you can buy and sell them

quite quickly. However, it can take a long time between listing your property for sale and the closing date.

This might be a problem if you need the money right away.

You have additional responsibilities: Being a landlord can be a difficult job. You’re responsible for any maintenance and repairs that need to be done. But there are also some headaches you have to deal with, like a tenant that damages your property or misses a rent payment.

The alternative is to hire a property manager. He or she can take care of those problems but at a cost to you.

While an investment property will provide you with additional income, it’s good to be aware of the pros and cons before you ultimately decide to make a purchase.

RateHub.ca is a website that compares mortgage rates, credit cards and deposit rates with the goal to empower Canadians to search smarter and save money.

Alyssa Richard is the founder and CEO of ratehub.ca, a mortgage rate comparison site that aims to empower Canadians to make smart financial decisions.

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TOUR OTTAWA’S MOST STUNNING AND SPECTACULAR HOMES ENTER TO WIN A CUSTOMIZED LIMOUSINE TOUR

VISIT OUR FACEBOOK PAGE (ARTOFHOMETOUR) FOR DETAILS!

There’s never been a better time to buy a new home, and the Art of Home Tour gives you the opportunity to view model homes in well-designed communities from East to West, with incredible savings and incentives to be found.

Featured this year on the tour are 25 exclusive communities, and a range of home types and sizes to suit every need, from some of Ottawa’s most respected and innovative homebuilders.

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The Art of Home Tour A Spectacular Showcase of Ottawa Homes HOME BUYING HAS BEEN SIMPLIFIED.

The Greater Ottawa Home Builders’ Association (GOHBA) is pleased to present The Art of Home Tour. Home buyers will have a unique opportunity to tour 25 exclusive communities across the city from 15 local builders.

Taking place from 11 a.m. to 6 p.m. on Saturday, May 14 and Sunday, May 15, 2016, the Art of Home Tour is a showcase of new homes in the National Capital Region. You will have the opportunity to follow selfguided tours of unique, innovative and attractive model homes in communities throughout Ottawa East, South, and West with exclusive savings and incentives in effect specifically for this weekend.

“We see this tour as a great way to showcase the best of what Ottawa home builders have to offer,” says Tanya Buckley, vice-president of sales and marketing for Cardel Homes. “As 24 YPNEXTHOME.CA

community builders, we are proud to help shape the landscape of our beautiful city and welcome the opportunity to talk about our homes and the Cardel experience.”

If you’ve been looking into buying a new home, but you haven’t been able to narrow your search, then this weekend is for you. Come out and tour Ottawa’s most stunning and spectacular homes representing the vision and craftsmanship of some of the most respected homebuilders in the city.

“Searching for a new home can be a stressful experience,” says Christian Campanale from Campanale Homes.

“The Art of Home Tour is a great way to minimize the stress and make the home search a thrilling and interactive activity. The GOHBA sales and marketing committee has put in a lot of time and energy to ensure that the Art of Home tour is a success

and Campanale Homes is thrilled to participate in one of the most exciting events of the year in the Ottawa region.”

Presented by TRUEdotDESIGN, this event is free of charge and offers you the opportunity to view a variety of housing types and the latest innovations in energy efficiency, building technology and design trends.

“The Art of Home Tour is the perfect way to begin the search for your next home,” says Shelley Beck, media sales consultant with Postmedia, and chairperson of GOHBA’s sales and marketing committee. “This event provides consumers with the opportunity to find the builder, community, and home that best suits their needs, with incredible savings and incentives to be found throughout the city.”

The tour will hit major suburbs

such as Stittsville, Kanata, Manotick, Barrhaven, Orleans and Kemptville.

Some of the builders participating in this exciting event include Campanale, Cardel, eQ Homes, Minto and Richcraft.

“Customers coming out to tour the Minto sites can expect to see fresh new designs by Minto, offered at an exceptional value,” says Jan Coulis, director of marketing for Minto.

“Our new designs have incorporated customer feedback to include more functional uses of space that maximize every square foot – open and bright living spaces, mudrooms, walk-in closets, second-floor laundry rooms, high ceilings and large, bright windows. Minto is also bringing food trucks to Arcadia, Avalon Encore and Mahogany for the weekend, so be sure to visit early while supplies last!”

The Cardel team is also very excited about the event: “Although we build in a number of communities, we have chosen to feature Blackstone as it has something for everyone. People can expect to see a wide range of choice:

from condos to townhomes and singles with even rental units coming soon. The tour is a great opportunity to find your best fit all in one stop.”

For a list of all the builders and a handy map to begin your hunt, please visit artofhometour.ca.

For your chance to win a customized limo tour for the day, please visit the Art of Home Facebook page and

register today. Also, follow the Art of Home Tour on Facebook (facebook. com/ArtofHomeTour), Twitter (twitter.com/@ArtofHomeTour) and Instagram (instagram.com/ artofhometour/). Each time the #artofhometour hashtag is shared during the Art of Home Tour weekend, your name will be entered into a contest to win a barbecue and a patio furniture set.

APR 30 - MAY 14, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 25

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Canada’s most millennial friendly housing markets

By Wayne Karl

MILLENNIALS, PLEASE ADJUST YOUR HOMEBUYING

aspirations. Your targets are a little off, so we’ve assembled Canada’s most millennial friendly housing markets to help you.

Many of you – those 18 to 34, the generally accepted age range for millennials – seem to be aware of what’s going on in Canadian real estate. Others, though…

According to the 2016 Bank of Montreal Millennial Home Buyer Report, 76 per cent of Canadian millennials who currently rent, expect to buy a home within the next five years. But affordability is cited as a major concern.

Affordability challenges Our first clue comes with what they expect to pay – an average of $350,000 on their first home (but more on this later). Wisely, two thirds anticipate they will need help – with $35,000 of that amount coming from family. The average expected down payment is 15 per cent, or about $53,000. (Reality check: while saving for as large a down payment as possible is wise, we wonder if aiming so high is realistic for these first-timers.)

As a general guideline, buyers can assume the mortgage you can qualify for in today’s market is about five times your income. “So, if you’re looking to qualify for a $400,000 mortgage, the basic income requirement would be $80,000,” says James Laird, president of CanWise Financial, in-house mortgage brokerage for mortgage comparison website RateHub. “It’s important to note that it’s a mortgage qualification, not the home price. If you have a reasonable down payment saved, this contributes to increased affordability.”

According to RateHub’s calculator, “affordability” is based on the household income of the applicants purchasing the house, the personal monthly expenses of those applicants (such as car payments and credit expenses), and the expenses associated with owning a home (property taxes, condo fees and heating costs).

The issue of millennials needing help in buying their first home also surfaced in two other recent reports. RBC Economics’ latest Home Ownership Poll indicates 24 per cent of millennial respondents say they are more likely to consider purchasing a home with a family member.

Another new poll, from ReMax Canada, says 37 per cent of millennials expect help with their down payment from a family member or friend.

30 YPNEXTHOME.CA

“For many millennials, homeownership is a natural part of their journey and we’re seeing the next generation eager to get into the market, even if that means exploring alternate options like buying with family or a friend,” says Erica Nielsen, vice-president, Home Equity Finance, RBC. Expected purchase prices vs actual prices The problem with millennials’ homebuying target purchase prices from the BMO survey comes when you compare them to actual prices. Their national average target price of $350,000, for example, is well below the Canadian average home price of $512,621, as of the first quarter of this year, according to the latest Royal LePage House Price Survey. That $350,000 expected purchase price, in fact, barely exceeds the national average price for the most affordable housing type – condos – which is $344,491.

Also surprisingly, 51 per cent of BMO respondents say the type of property they hope to purchase is a detached home. (Reality check: have you checked the prices of those in your market lately?)

But rest assured, prospective millennial homebuyers, there is hope.

Millennial friendly housing markets We’ve assembled the most millennial friendly markets across the country – what housing types you can buy in what markets, at less than the expected average price from the BMO survey.

In the following tables, we’ve laid out, province by province, what millennials expect to pay for their first home and their expected average down payment, based on the BMO survey. We’ve also projected the monthly mortgage payment on a five-year fixed rate at 2.59 mortgage on a 25-year amortization.

We then list the available housing types in major markets in each province that are priced at less than the expected average price – based on actual average home prices as of the first quarter of 2016, from Royal LePage.

As you can see, in many markets, millennials may have to adjust their desired housing types and purchase prices, given what’s available in certain areas.

Still, there are some very millennial friendly housing markets.

ATLANTIC CANADA home price expectations, BMO report Average expected home price: $253,990 Average down payment: 13.39% ($34,009) Monthly payment: $995.41

Reality check: For those hoping to buy in Montreal, you might want to budget a little higher, since all housing types in Montreal Centre, East and West are above the average expected home price.

Reality check: Limited condo supply in Atlantic Canada, and nothing in any housing type available the expected price point in St. John’s, Nfld.

ONTARIO home price expectations, BMO report Average expected home price $415,110 Average down payment: 15.97% ($66,293) Monthly payment: $1,579.09

PRAIRIES home price expectations, BMO report Average expected home price: $264,388 Average down payment: 20.56% ($54,358) Monthly payment: $950.17

Reality check: Condos in Regina are just slightly higher than the average expected home price, at $275,138.

ALBERTA home price expectations, BMO report Average expected home price: $386,480 Average down payment: 15.2% ($58,744) Monthly payment: 1,502.17

Reality check: Buyers in Calgary and Edmonton, investigate home prices in your city, as there may be deals to be had given the recent downturn.

BRITISH COLUMBIA home price expectations, BMO report Average expected home price: $478,113 Average down payment: 15.85% ($75,780) Monthly payment: $1,818.89

Reality check: Ontario millennials – get used to the idea of a condo being your first home.

QUEBEC home price expectations, BMO report Average expected home price $234,735 Average down payment: 12.82% ($30,093) Monthly payment: $927.54

Reality check: Sorry, Vancouver millennials. There’s nothing in your average expected home price available in the city.

And in West Van? LOL. Sources: Bank of Montreal Millennial Home Buyer Report, April 2016; monthly payments calculated using 25-year amortization, five-year fixed rate at 2.59, via BMO mortgage calculator; Royal LePage House Price Survey, Q1 2016

APR 30 - MAY 14, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 31

Trending

10 top malls in Canada – and 1 reason to buy near them

By Wayne Karl

MORE TRENDING ONLINE nexthome.yp.ca/news

BC AND ONTARIO aren’t just superstars in residential property, they rock in the commercial real estate world as well – home to the 10 top malls in Canada.

It’s well documented that these two provinces are home to Canada’s most expensive and most active housing markets. Now, a new study from commercial real estate services firm Avison Young shows they are also the top performers in retail sales.

What’s the correlation? We’ll get to that in a minute.

The study shows that BC and Vancouver were the leading province and city for retail sales growth in 2015, at 6.6 per cent and 9.9 per cent, respectively, followed by Ontario at 4.5 per cent and Toronto at 5.4 per cent.

Toronto’s Yorkdale Shopping Centre was Canada’s most productive mall, with retail sales of $1,610 per square foot, displacing Vancouver’s Pacific 32 YPNEXTHOME.CA

“Despite economic headwinds, retailer failures, digital disruption and the purchasing habits of a new generation, Canada’s evolving retail property sector and its top malls are doing just fine” Centre, which topped the list in 2014.

Five of the 10 top-performing malls are in Ontario, and four of those are located in the Greater Toronto Area.

“Despite economic headwinds, retailer failures, digital disruption and the purchasing habits of a new generation, Canada’s evolving retail property sector and its top

malls are doing just fine,” says Bill Argeropoulos, principal and practice leader, research, Canada, for Avison Young. “While hundreds of millions of dollars have been invested to renovate, expand or upgrade some of the country’s prominent malls to attract new retailers and combat e-commerce, the retail sector continues to attract new entrants and significant investor interest as well.”

So, what does all this mean for residential real estate?

Not to oversimplify Economics 101, but solid population and wage growth are among the key contributors to both healthy retail and real estate sectors. And with BC and Ontario economies and housing markets leading in this regard, it’s no surprise that residents in these areas are brimming in the consumer confidence department.

So, those markets that are seeing

TOP 10 SHOPPING MALLS*

Top 10 Retail Malls in Canada By sales per square foot

And how much it will cost you to buy a home nearby = average home price

Vancouver (including Burnaby)

1

Yorkdale Shopping Centre, Toronto $1,610

2

Pacific Centre, Vancouver $1,599

3

Oakridge Centre, Vancouver $1,537

4

Eaton Centre, Toronto $1,509

5

Southgate Centre, Edmonton $1,215

6

Chinook Centre, Calgary $1,119

7

Royal Bank Plaza, Toronto $1,096

8

Rideau Centre, Ottawa $1,018

9

Metropolis at Metrotown, Burnaby, BC $1,008

10

Square One, Mississauga, Ont. $994

Edmonton

2015: $369,536

2015: $902,801 2014: $812, 653

2014: $362,657

5 Toronto

2 9 3

6

2015: $622,046 2014: $566,491

Calgary

2015: $453,814 2014: $460,584

*By retail sales per square foot

Mississauga Ont.

2015: $546,296 2014: $506,579

Ottawa

8 1 4 7 10

2015: $369,477 2014: $363,161

DATA FOR AVERAGE HOME PRICES PROVIDED BY CANADIAN REAL ESTATE ASSOCIATION

the largest retail sales growth, are also those that are experiencing strong average home price growth.

On the flip side, not surprisingly, oil-dependent provinces such as Alberta and Saskatchewan, which Argeropoulos says have the weakest outlook for retail sales, are also among the areas where home price growth is weakest.

When the likes of Saks Fifth Avenue and Nordstrom set up shop, or when a retailer such as Yorkdale Shopping

Centre undergoes a major expansion, it’s usually a sign of good times, and that an area is on the upswing. Like proximity to mass transit, schools and other amenities, being close to shopping is a major attraction for homebuyers. These features are among the keys to enjoying your home while you live there, as well as for potential resale value in the future.

Large retailers and commercial ventures don’t just pop up in the middle of nowhere or in declining

neighbourhoods. These companies make careful, long-range and well planned-out decisions in lockstep with municipalities and developers, based on hard data, research and demographic information.

This is why major retail expansion is good news: it’s an indicator the economy continues to strengthen; and, for those looking to buy a home, it’s a sign to look out for new or expanding neighbourhoods and solid buying opportunities.

APR 30 - MAY 14, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 33

Property Profile | MINTO

cover story

Marquette Showhome

Avalon Encore Minto launches new single-family showhomes MINTO IS PROUD TO ANNOUNCE the

release of its brand new, never-beforeseen single-family showhomes available on 30-, 36- and 43-ft. lots at Avalon Encore in Orleans.

These new floorplans range from 1,785 to 3,242 sq. ft. and offer buyers a variety of options. Whether you’re in search of your first home or looking to upgrade to something bigger, these four models have what you need.

For those looking for a threebedroom home, Minto has the Kinghurst. This classic design offers 1,785 sq. ft. of living space and is the ideal home for young families. If you’re looking for space to grow, there is also the Georgian (2,339 sq. ft.) and the Stanley (2,450 sq. ft.), both with 34 YPNEXTHOME.CA

four bedrooms and 2.5 bathrooms.

The largest showhome, the Marquette, is a spacious 3,242 sq. ft. with four bedrooms and 3.5 bathrooms. The showhomes have been beautifully designed by the KISS Design Group.

Minto has redesigned its single-family homes to make better use of space with low-maintenance, easy-care finishes. The new designs include rich exterior colour palettes and optional elevation designs to suit different style preferences; bright, airy living spaces, with bigger windows for more natural light throughout the home; more storage space and second floor laundry.

One of the many great qualities of Minto’s new home designs is the ability to personalize your space with flex plan

Location

Orléans Builder

Minto Development

Avalon Encore Home Type

Single-family homes,avenue and executive townhomes, infusion terrace homes Sales Centre

2370 Tenth Line Rd. Monday to Thursday noon to 8 p.m.

Friday 1 to 6 p.m.

Weekends & holidays 11 a.m. to 6 p.m.

Contact

613.834.6400 avalonSales@minto.com

Kinghurst Showhome

“With themes ranging from elegant and traditional to hip and modern, and even a little retro, there is sure to be a design for everyone.“

Georgian Showhome

design options provided by the Minto Design Centre. All four floorplans come with a flex option which means you get to sit down with an expert at the Minto Design Centre and decide what works best for your family. With themes ranging from elegant and traditional to hip and modern, and even a little retro, there is sure to be a design for everyone.

Avalon Encore follows on the heels of the success of Avalon which sold out in 2015. Conveniently located at Tenth Line Road and Brian Coburn Boulevard, Avalon Encore is easily accessed by the Queensway, the OC

Transpo bus system, and expansions to Ottawa’s light rail system will see the East End more connected than ever. Avalon Encore is near grocery stores, pharmacies, banks, restaurants, coffee shops, and dozens of other conveniences and comforts.

You also have access to more than 200 km of scenic bike paths, as well, one of the most incredible parts of the Green Belt, the Mer Bleue Bog. Mer Bleue is a 3,500-hectare conservation area which has one of the most unique eco-systems in the Ottawa region and 20 km of trails for you to explore.

Minto has sold more than 5,000

homes in Avalon and Avalon Encore, from a variety of styles, including condo flats, infusion terrace homes, avenue and executive townhomes, single-family homes and bungalows.

For over 60 years, Minto has forged a reputation for delivering quality homes and is proud to have been named Builder of the Year in 2012, and again in 2014, by the Ontario Home Builders’ Association. Minto’s reputation as a Green builder is also recognized having been named Ontario Green Builder of the Year five times in the last eight years by EnerQuality and the Ontario Home Builders’ Association.

For more information on Avalon Encore or the new Show Homes, please contact the sales centre or visit mintoavalon.com

APR 30 - MAY 14, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 35

Homebuyers’ Help

Compare mortgage rates for your best deal CHARTERED BANKS

variable

ATB Financial

2.6

Alterna Bank

2.35

Bank of Montreal

2.7

Bank of Nova Scotia

2.9

Canadian Western Bank CIBC

6 months

1 year

2 years

3 years

4 years

5 years

4 4.00op 4 6.30op 4 6.75op 4.55 6.45op 4 6.45op

2.94 4.00op 2.85 6.30op 2.89 6.75op 3.29 6.50op 3.14 6.30op 2.84 6.35op 3.14 2.84 3 3.20op 3.14 6.70op 2.79 3.14 6.75op 2.99 6.30op 3.19

2.64 4.00op 2.09

2.49

2.64

2.74

2.59

2.74

2.58

2.99

3.39

3.89

2.59

3.09

3.39

3.89

4.49

3.04

3.65

4.2

4.74

2.79

2.54

4.09

4.79

3.04 2.84 2.94

3.65 2.84 2.84

4.39 2.89 2.79

4.64 2.89 2.89

3.04

3.39

2.74

2.84

3.34 2.39

3.99 2.54

4.44 4.39

4.64

2.84

2.39

3.89

2.69

3.24

3.49

3.69

3.79

6.5 4.45 6.30op 3.95 4.2 6.50op 4.55 6.45op

3.14 3.35 6.30op 2.69 3.14 6.30op 3.29 6.50op

3.25 3.5

3.95 3.7

4.39 4.3

4.64 4.35

2.14 3.09

2.34 3.39

2.59 3.89

2.59 2.74

3.09

3.39

3.89

4.49

4 6.30op 6.2 6.40op 3.1 4.25 6.50op 4.2 6.50op

2.85 6.30op 2.84 6.30op 2.29 2.89 6.50op 3.14 6.30op 3.25 6.25op 2.84 6.30op 2.99 6.30op 2.8 2.95op 2.45

2.09

2.59

2.74

2.58

2.89

2.95

2.99

2.89

2.24 2.79

2.49 2.89

2.64 2.95

2.69 2.89

3.09

3.39

3.89

4.74

3.2

3.65

4

4.5

2.79

3.39

3.89

2.59

2.69

3.49

3.99

4.64

2.85

2.95

3.05

3.15

2.55

2.55

2.65

2.65

2.7 6.95op

Equitable Bank ICICI Bank Canada Manulife Bank

2.75 2.4

National Bank

n/a

President’s Choice Finan 2.70 Royal Bank

2.6

4.45 4.4 6.70op

6.75op TD Canada Trust

2.6

Tangerine

2.7

TRUST COMPANIES Community Trust Effort Trust

n/a n/a

Home Trust Company Investors Group Trust

2.35 n/a

MTCC

2.9

OTHER FINANCIAL INSTITUTIONS Alterna Savings

2.35

Comtech Credit Union

2.45

First National Fin. LP IC Savings

2.7

London Life

n/a

Luminus Financial

3.25

Meridian Credit Union

2.4

PACE Savings & C.U.

4 5 6.70op

Parama Credit Union

2.65

Steinbach Credit Union

2.25

ONLINE CALCULATOR ypnexthome.ca/mortgage-calculator Notes: **Interest rate charged subject to adjustment during term mortgage. Please consult institution for term of years available. All rates are prime rates and subject to change without notice.

R.O.R. RATES ON REQUEST op OPEN ----- NOT QUOTING N/A NOT AVAILABLE April 25, 2016. Prepared By Fiscal Agents Financial Information Services 905.844.7700

36 YPNEXTHOME.CA

Hot Properties

Find your next home! This page features a few of the latest properties to keep your eye on in the Eastern Ontario area. Find more properties at ypnexthome.ca

LATEST LISTINGS

AVALON ENCORE BY MINTO

PRINCE OF WALES ON THE RIDEAU By: Campanale Homes City: Ottawa South Housing type: Executive single-family homes.

Contact: 613.440.3750 campanale.com

ARTHAUS CONDOMINUMS

CLARENCE CROSSING

By: DevMcGill City: Ottawa - Downtown Housing type: Condominium.

Contact: 613.909.3223.

ArtHausCondos.com

By: eQ Homes City: Rockland Housing type: Singles, towns and condos. clarencecrossing.com

LIV TOWNS THE CORNERS ON MAIN

RICHARDSON RIDGE KANATA By: Cardel Homes City: Kanata Housing type: Phase III in Richardson Ridge, popular home designs and several brand new models.

Contact: 613.435.5706 cardelhomes.com

SPRING VALLEY TRAILS By: Claridge Homes City: Navan Housing type: Townhomes. claridgehomes.com

38 YPNEXTHOME.CA

By: Domicile City: Old Ottawa East Housing type: Midrise condos comprising a mix of six- and four-storeys.

Contact: 613.806.6246. cornersonmain.ca

By: Glenview City: Kanata Housing type: Townhome Contact: 613.595.0591 sales@glenviewhomes.com glenviewhomes.com/liv

TEMPO GREYSTONE VILLAGE By: eQ Homes City: Ottawa Housing type: Singles, towns, semis and condos. greystonevillage.ca

By: Glenview City: Kemptville Housing type: Two-storey singles and bungalows with loft options.

Contact: 613.797.6763 sales@glenviewhomes.com glenviewhomes.com/tempo

ARTHAUS BY DevMcGill

FINDLAY BY THE PARK

UPPERWEST

By: Lemay Homes City: Leitrim Housing type: Singles, bungalows and townhomes Contact: 613.425.5255 lemayhomes.ca

By: Minto City: Ottawa Housing type: Condo Mintocondosale.com

SOHO CHAMPAGNE By: Mastercraft Starwood City: West Central Housing type: Luxury condominiums sohochampagne.com

CHAPARAL • GALLERY TOWNHOMES By: Tamarack Homes City: Orleans Housing type: Townhomes. tamarackhomes.com

WHITE TAIL RIDGE By: Phoenix Homes City: Almonte Housing type: Bungalows and singles.

Contact: Kellie Connors 613.461.0277 phoenixhomes.ca

THE ORCHARD By: Uniform Urban Developments City: Barrhaven Housing type: Single-family homes and townhouses. uniformdevelopments.com

FELTON COURT SOHO LISGAR By: Mastercraft Starwood City: Ottawa Housing type: Condominium.

Contact: 613.798.7646 soholisgar.com

MINTO BEECHWOOD By: Minto City: Ottawa Housing type: Condo Mintocondosale.com

MINTO LANSDOWNE By: Minto City: Ottawa Housing type: Condo Mintocondosale.com

RICHARDSON RIDGE

By: Phoenix Homes City: Barrhaven Housing type: Townhomes.

Contact: phoenixhomes.ca

THE BOWERY CONDOS & LOFTS By: Richcraft City: Centretown Contact: 613.695.7577 thebowerycondos.ca

By: Uniform Urban Developments City: Kanata Housing type: Singles, townhome and condo flats.

Contact: 613.435.7751 uniformdevelopments.com

BRADLEY ESTATES

RUSSELL TRAILS By: Tartan Homes/Corvinelli Homes City: Russell Housing type: Singles, semis, bungalows russelltrails.com

By: Valecraft Homes City: Mer Bleue/Orléans Housing type: Single-family homes and executive townhomes. valecraft.com

Builders If you would like to include your preview registration, new release or site opening in this feature, just email the details to Sarah.Khan@ypnexthome.ca

APR 30 - MAY 14, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 39

Ad Index

Builder Name

Site Name

Prices

D

Location

et a Se che m d i Bu ng To alo w w n Ad hom ul t L e/C ife on st do yl e

ADVERTISERS

Page

WEST Arnprior

Campanale

Callahan Estates

Carleton Place

Cardel

Kanata

x

x

x

Inquire

18, 19

Stonewater Bay

Inquire

13, 29

Cardel

Richardson Ridge

Inquire

13

Kanata

Glenview

Monahan Landing

x

x

From $230's

9

Kanata

Mattamy

Fairwinds

x

x

From $259,990

4, 5

Kanata

Mattamy

Monahan Landing

x

From $229,990

4, 5

Kanata

Phoenix

Fernbank

From $369,900

16, 17

Kanata

Tamarack

Pool Creek Village

From $328,900

BC

Kanata

Uniform Developments

Richardson Ridge

Inquire

6, 7

Kanata

Valecraft

Trailwest

Inquire

22

Stittsville

Cardel

Deer Run

x

Inquire

13, 29

Stittsville

Richcraft

Fernbank

x

Stittsville

Valecraft

Rathwell Landing

x

Barrhaven

Campanale

Barrhaven

x x

x

x

x

x

x

Inquire

21

x

x

Inquire

22

Longfields

x

Inquire

18, 19

Cardel

Longfields

x

Inquire

13, 29

Barrhaven

Claridge Homes

West Pointe Village

x

x

x

Inquire

10, 11

Barrhaven

Richcraft

Fieldstone

x

x

x

Inquire

21

Barrhaven

Mattamy

Traditions II

x

x

$274,990

4, 5

Barrhaven

Tamarack

The Meadows

x

x

Inquire

BC

Barrhaven

Uniform Developments

The Orchard

x

x

Inquire

6, 7

Barrhaven

Valecraft

Woodroffe Lofts

x

Inquire

22

Central

Valecraft

Aviation Private

x

Inquire

22

Leitrim

Lemay Homes

Findlay by the Park

x

x

x

Inquire

20

Leitrim

Tamarack

Findlay Creek

x

x

Inquire

BC

Ottawa South

Claridge

Bridlewood

x

Inquire

10, 11

Ottawa South

Claridge

Sundance

x

x

x

Inquire

10, 11

Ottawa South

Claridge

Summerhill Village

x

x

x

Inquire

10, 11

SOUTH

40 YPNEXTHOME.CA

x

x

x

Site Name

et a Se che m d i Bu ng To alo w w n Ad ho m ul t L e/C ife o st nd yl o e

Builder Name

Prices

D

Location

Page

CENTRAL Central

Claridge

Fusion

x

From 266,000

10, 11

Central

Claridge

Tribeca

x

From 343,000

10, 11

Central

EQ Homes

Greyston

x

From $300's

15

Central

Tamarack

Tamarack

x

From $274,400

BC

Central

Tarion

Choice Awards

Inquire

37

Downtown

Claridge

Claridge Plaza 3 & 4

x

From 311,000

10, 11

East Orleans

Tamarack

Cardinal Creek Village

x

x

x

Inquire

BC

Embrun

Valecraft

Place St. Thomas

x

x

Inquire

22

Orléans

Minto

Avalon

x

Inquire

2, 3

Orléans

Richcraft

Trailsedge

x

x

x

Inquire

21

Orléans

Valecraft

Bradley Estate

x

x

x

Inquire

22

Navan

Claridge

Spring Valley Trails

x

x

x

Inquire

10, 11

Russell

Tartan/Corvinelli Homes

Russell Trails

x

Inquire

8

Barrhaven

Richcraft

Bowery

x

From $219,000

C4

Downtown

DevMcGill

Arthaus Condos

x

Inquire

C2

Kanata

Cardel

Blackstone

x

Inquire

C13

Kanata

EQ Homes

Sonia

x

From $219,900

C19

Kanata

Morley Hoppner

Two The Parkway

x

Inquire

C3

Orléans

Brigil

Petrie's Landing

x

Inquire

C17

Ottawa Central

Theberge Homes

Hunt Club Homes

x

Inquire

C5

Ottawa Central

Claridge

Icon

x

From $281,000

C8, C9

Ottawa Central

Claridge

Waterstreet

x

Inquire

C8, C9

Ottawa Central

Domicile Development Inc

The Corners On The Main

x

Inquire

C11

Ottawa Central

Mastercraft Starwood

Soho Champagne

x

Inquire

C15

Ottawa Central

Brad Lamb

Gotham

x

Inquire

C14

West Nepean

Claridge

Stirling Park

x

From $236,000

C8, C9

Westboro

Minto

Upperwest

x

From $269,900

C16

x

EAST

x

x

x

x

CONDO

APR 30 - MAY 14, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 41

Neighbourhood Profile

Byward Market Alive and buzzing with activity

Fast facts Average household income

$87,826

Most common housing type

By Lindsay Foran

Highrise

Family structure

SINGLES

COUPLES

FAMILIES

61%

32%

7%

Own vs. rent

40% OWNERS

60% RENTERS

MORE PHOTOS ONLINE Education levels

ypnexthome.ca/byward-market

63% THE BYWARD MARKET is the place to be if you’re looking for constant stimulation. There is an electric buzz of people, music, traffic and bicycle bells. In this area, cars are a nuisance, which only lead to more noise, pollution and congestion. When you have everything you could need at your fingertips, why drive?

Vibe At all hours of the day and night, there is a palpable pulse to the streets of The ByWard Market. During the day, vendors, local farmers and artists set up shop throughout the area. At every corner, there are musicians, actors, and performers of all kinds sharing their talent with the public.

Meet the neighbours People of every lifestyle, income and age share this small neighbourhood and make it their own. With proximity to the University of Ottawa, the

Market is the central gathering ground for students and professors, greenspaces filled with study groups or artists painting the scenery.

Surrounding federal buildings fill local bars and restaurants with suits toting briefcases rubbing elbows with the local artists and merchants.

In the area The ByWard Market appeals to a range of residents, from the poor penny-pinching student who lives on a budget, to the six-figure-income professional. You can find anything from a hotdog street stand to the best five-star restaurant.

Planes, trains & automobiles Hwy. 417 is within a kilometre, offering quick access to the city. There are two bridges leading to the Outaouais and its many scenic bike paths and hiking trails. For those without a vehicle, the transitway is within blocks and has a

22%

UNIVERSITY HIGH SCHOOL

SOURCE: ENVIRONICS

heavy flow of buses at all hours.

The good, the bad & the rest There is no other area in Ottawa where you will find more than 50 restaurants, ranging from pub food, to vegan raw, to high-class steakhouses.

There’s also museums, churches, schools, groceries and the Rideau Centre, with all the stores you could possibly need. There is an off-leash dog park, plenty of grass to sunbath, the Ottawa River for scenic walks and the many bike paths for jogging.

Real estate If you’re looking for a quiet oasis, this may not be the place for you.

But you can’t beat the energy on the streets – the constant buzz is contagious and invigorating.

Lindsay has lived in the Ottawa/Gatineau area her whole life. When she’s not touring the city in search of the hottest new neighbourhoods, she’s busy writing fiction and enjoying life with her husband and two dogs.

42 YPNEXTHOME.CA

15% COLLEGE

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TOWNHOMES SO BEAUTIFUL, THEY’RE SUITABLE FOR FRAMING It’s your space, your way. Designed for an active lifestyle, these fully upgraded townhomes make luxury standard and are ready for your artistic touch! Tour them today in Orléans' most convenient neighbourhood.

TOUR 3 MODELS TODAY from $281,900