GTA Condo Life - April 5, 2025 by NextHome

ON TARIFFS AND HOUSING

WAYNE KARL EDITOR-IN-CHIEF Condo Life Magazine

EMAIL: wayne.karl@nexthome.ca

TWITTER: @WayneKarl

When Canadians go to the polls in the April 28 federal election, there’s a lot at stake. Most pressing is the ongoing threat of U.S. tariffs and the existential questions it raises. Just as important, perhaps, and something that cannot get lost in the process – housing.

On that front, Liberal leader Mark Carney on March 31 announced what is being called Canada’s most ambitious housing plan since the Second World War, that would build more homes that Canadians can afford (see page 8). Among other things, the plan would create Build Canada Homes (BCH) to get the federal government back into the business of homebuilding; and make the housing market work better by catalyzing private capital, cutting red tape and lowering the cost of homebuilding.

This, in addition to earlier announced plans to eliminate of the GST for first-time homebuyers on homes at or less than $1 million.

Meanwhile, the Conservative party has also pledged that, if elected, it would eliminate the GST on all new homes of less than $1.3 million.

These are exactly the kinds of substantive initiatives that we need to address the serious issues facing the housing sector, and industry groups across the country are applauding the moves.

“We are pleased that two major federal parties have made substantial promises regarding GST on new homes,” says Kevin Lee, CEO of the Canadian Home Builders’ Association. “In light of the tariff war with the United States, it is doubly important that all avenues to improve housing affordability for Canadians are explored. Addressing the GST on new housing is certainly a step in the right direction in ensuring Canada has a comprehensive plan to support better housing affordability and supply in the face of increasing construction costs, and is long overdue.”

And from the Building Industry and Land Development Association (BILD), “BILD welcomes Liberal leader Mark Carney’s housing platform commitments. These are the reforms BILD has been advocating for, to address the housing crisis in the GTA.”

We have about three weeks to election date. While much of the issues discussion will centre around Donald Trump and the U.S., it’s important to keep watch on who promises what when it comes to housing. However the tariff threat plays out, the homebuilding issue will remain long after April 28.

CONTRIBUTORS

HOME DESIGN | MARIAM ABOUTAAM

An award-winning interior designer, Mariam Aboutaam is Director, Sales and Marketing, Interior Design at Kylemore, Markham, Ont., a builder known for master-planned communities and luxury homes. kylemoreliving.com.

PERSONAL FINANCE | JESSE ABRAMS

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

TRREB REPORT | ELECHIA BARRY-SPROULE

Elechia Barry-Sproule is President of the Toronto Regional Real Estate Board (TRREB) and Broker/Owner of Red Apple Real Estate Inc. She is committed to mentoring and supporting real estate professionals across the industry. trreb.ca.

WESTERN VIEW | MIKE COLLINS-WILLIAMS

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

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

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, 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

STAT CHAT | BEN MYERS

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.

LEGALLY SPEAKING | JAYSON SCHWARZ

Jayson Schwarz LL.M. is a Toronto real estate lawyer and partner in the law firm Schwarz Law LLP. He can be reached by visiting schwarzlaw.ca or by email at info@schwarzlaw.ca or phone at 416.486.2040.

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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EDITOR-IN-CHIEF – GREATER TORONTO AREA

Wayne Karl wayne.karl@nexthome.ca

CONTRIBUTORS

Mariam Aboutaam, Jesse Abrams, Elechia Barry-Sproule, Mike Collins-Williams, Debbie Cosic, Barbara Lawlor, Linda Mazur, Lianne McOuat, Ben Myers, Jayson Schwarz, Dave Wilkes

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FEDERAL LIBERALS UNVEIL CANADA’S MOST AMBITIOUS HOUSING PLAN SINCE THE

SECOND

WORLD WAR

Mark Carney has announced that a new Liberal government would build more homes that Canadians can afford, with Canada’s most ambitious housing plan since the Second World War.

During and after the Second World War, Canada was facing a massive housing crisis – similar to today’s. In response, the government of the day built tens of thousands of affordable starter homes for returning veterans and their families. Prime Minister William Lyon MacKenzie King’s policies created new agencies to oversee the construction of homes, built entirely new industries, and found ways to cut costs and cut the time to build.

“In the face of President Trump’s tariffs, we need to build for Canadians,” says Mark Carney, leader of the Liberal Party of Canada. “We’re going to build homes Canadians can afford, and a new industry that can take on the world. We’re going to get the government back into the business of homebuilding, while partnering with workers and industry, and cutting taxes for homebuyers – so more Canadians can buy their first homes.”

Carney-led says a Liberal government will double the pace of

construction to almost 500,000 new homes a year, with a housing plan that will:

• Create Build Canada Homes (BCH) to get the federal government back into the business of homebuilding, by:

- Acting as a developer to build affordable housing at scale, including on public lands;

o Catalyzing the housing industry by providing more than $25 billion in financing to innovative prefabricated homebuilders in Canada, including those using Canadian technologies and resources such as mass timber and softwood lumber, to build faster, smarter, more affordably and more sustainably; and

- Providing $10 billion in low-cost financing and capital to affordable homebuilders.

• Make the housing market work better by catalyzing private capital, cutting red tape and lowering the cost of homebuilding:

- Cutting municipal development charges in half for multi-unit residential housing while working with provinces and territories to keep municipalities whole;

- Reintroducing a tax incentive which, when originally introduced

in the 1970s, spurred tens of thousands of rental housing across the country;

- Facilitating the conversion of existing structures into affordable housing units; and

- Building on the success of the Housing Accelerator Fund, further reducing housing bureaucracy, zoning restrictions, and other red tape to have builders navigate one housing market, instead of thirteen.

These measures are in addition to the earlier announced elimination of the GST for first-time homebuyers on homes at or less than $1 million.

The Building Industry and Land Development Association (BILD) is among the industry groups applauding the measures.

“BILD welcomes Liberal leader Mark Carney’s housing platform commitments,” the association says. “If elected, he would cut municipal (development charges) in half for multi-residential housing and reintroduce the Municipal Unit Rental Building policy to spur rental housing developments. These are the reforms BILD has been advocating for, to address the housing crisis in the GTA.”

GTA MUST INCREASE RATE OF BUILDING AND ADJUST HOUSING TO MEET DEMOGRAPHIC SHIFTS: BILD

A new report by the Missing Middle Initiative, commissioned for the Building Industry and Land Development Association (BILD) and the Ontario Home Builders’ Association (OHBA), highlights the need to increase the rate of building and focus on larger units to accommodate demographic shifts in a still growing GTA population. It recommends various policy solutions for all levels of government to act quickly to address barriers to new home construction in the region to mitigate the situation.

“The report estimates that the GTA will need to see 30,000 ground-oriented homes and 20,000 apartment units built each year just to keep up with demographic change ahead,” says Scott Andison, chief executive officer of OHBA.

“This is a significant increase in total building rate versus the average of the last decade, and also indicates population demand may be looking for a refinement in the housing mix. Over the last decade a mixture of policy, costs, available serviced land, demand, and other factors has resulted in roughly 10,000 groundoriented starts and 20,000 annual apartment starts each year.”

The report highlights three key demographic drivers:

1. While the population of the GTA is still growing, more than 80,000

people leave the region each year, compared to those moving in from other parts of Canada.

2. Young families, specifically adults in their late 20s and early 30s, and children under the age of five, are the group most likely to move out of the GTA to areas such as London, Hamilton and Tillsonburg, likely in search of larger and lower cost housing.

3. That demographic composition and demand in the GTA will continue to result in increased demand from grade related and larger housing due to the higher proportion of the population in the early stages of family formation.

“While recent immigration and non-permanent resident policy changes have temporarily reduced housing demand, we note that a high number of people in their early 20s will continue to fuel demand for housing for years to come,” says Dr. Mike P. Moffatt, founding director of the Missing Middle Initiative. “With a population skewed toward younger people, the demand for family-sized homes is expected to increase, not decrease, even as the region ages.”

The report also outlines several key policy reforms necessary to address the GTA’s housing crisis. Among the recommendations

are incorporating pre-existing housing shortages into planning, reviewing generational turnover assumptions, lowering development taxes, streamlining approvals processes, legalizing gentle density, opening more land for residential development, and facilitating the construction of three-bedroom apartments without the use of cross-subsidies.

“Development charges and other municipal fees in the GTA are higher than in the rest of the province, putting GTA communities at a cost disadvantage and fueling the exodus of young families,” says David Wilkes, president and CEO of BILD. “Approval timelines are longer in the GTA and Hamilton than in London and Ottawa, and substantially longer than in Calgary and Winnipeg. Government action to address these lengthy timelines and extremely high government-imposed fees, taxes and charges would help lower the ‘cost to build’ and make homes more affordable, which would, in turn, reduce the outflow of young families from the region. We are in the middle of a housing crisis and the time for action is now. The socio-economic future of our region is dependent on taking the necessary steps to address the structural challenges facing the housing industry.”

INVENTORY AND CHOICE AFFORDS BUYERS

SUBSTANTIAL NEGOTIATING POWER

Homebuyers continued to benefit from substantial choice in the Greater Toronto Area (GTA) resale market in February 2025, the Toronto Regional Real Estate Board (TRREB) reports.

Home sales last month were down compared to the same period last year, while listing inventory remained high, providing substantial negotiating power for homebuyers.

“Many households in the GTA are eager to purchase a home, but current mortgage rates make it difficult for the

average household to comfortably afford monthly payments on a typical property. Fortunately, we anticipate a decline in borrowing costs in the coming months, which should improve affordability,” says TRREB President Elechia Barry-Sproule.

“On top of lingering affordability concerns, homebuyers have arguably become less confident in the economy,” adds TRREB Chief Market Analyst Jason Mercer. “Uncertainty about our trade relationship with the United States has likely prompted some households to take a wait-andsee attitude towards buying a home. If trade uncertainty is alleviated and borrowing costs continue to trend lower, we could see much stronger home sales activity in the second half of this year.”

GTA realtors reported 4,037 home sales through TRREB’s MLS System in February 2025 – down by 27.4 per cent compared to February 2024. New listings in the MLS System amounted to 12,066 – up by 5.4 per cent year-over-year. On a seasonally

adjusted basis, February sales were down month over month compared to January 2025.

The MLS Home Price Index Composite benchmark was down by 1.8 per cent year over year in February 2025. The average selling price, at $1.08 million, was down by 2.2 per cent compared to the February 2024. On a month-over-month basis, the MLS HPI Composite and the average selling price edged lower after seasonal adjustment.

“With the Ontario provincial election just behind us and the federal political situation in flux, there is a lot to consider from a policy perspective when it comes to housing,” says TRREB Chief Executive Officer John DiMichele. “Not only do policymakers and those vying for high public office need to make clear their direction on housing supply and affordability, but they also need to be clear on how they intend to tackle issues related to trade and the economy. Clear direction will go a long way towards strengthen consumer confidence.”

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GTA BUILDERS SHINE AS FINALISTS FOR CHBA 2025 NATIONAL AWARDS FOR HOUSING EXCELLENCE

Builders and developers in the Greater Toronto Area earned their fair share of nominations, as the Canadian Home Builders’ Association (CHBA) has named the finalists for the 2025 CHBA National Awards for Housing Excellence. The awards are considered Canada’s premiere competition for new homes, home renovations, community development and residential marketing.

The competition, which once again had a record-breaking year with more than 1,000 entries submitted, continues to be an important differentiator for industry professionals and those looking to buy or renovate a home.

Nearly 300 volunteer industry experts judged the 2025 competition. They scored entries based on project descriptions, images and other supporting information such as floorplans included in the submission packages.

In the new home awards, including the Net Zero Home categories, the criteria focus on design, innovation, functionality and special features. Renovation categories also assess integration within the home and how any challenges that came up were addressed. Marketing entries are judged based on concept, design and successful execution and outcomes. For community development categories, judges evaluate the overall vision and livability of the community, as well as its architectural features, environmental and sustainability considerations and amenities.

“Regardless of what’s happening in the world, Canadians need homes to live in, and our members are continually striving to meet the housing aspirations of Canadians from coast to coast,” says CEO Kevin Lee. “CHBA members work in communities across the country to

house people of all walks of life who are renting, buying their first home, raising families or downsizing. The people building and renovating are as diverse as Canada’s housing types; this is reflected in our finalists that range from family-run businesses who do a few projects per year to larger companies developing our neighbourhoods. This national awards program continues to grow even more competitive, and it is an impressive accomplishment to be named a finalist.”

Forty-eight awards for excellence in housing will be presented on May 15 in Victoria during CHBA’s Home Building Week in Canada. Along with awards for the categories listed above, three major awards will also be presented. The Design Excellence Award, Renovation Excellence Award, and Marketing Excellence Award will each be presented to the home builder or renovator who has achieved the best overall standing in the respective new home, renovation, and marketing categories.

For a complete list of all finalists, visit chba.ca.

MARKETING AWARDS

Best Signage

• Devron Developments, North York, Ont., 101 Spadina with II BY IV Design and Gladstone Media

• Madison Group, Toronto, The Capitol Residences

Best Brochure/Kit

• Devron Developments, North York, Ont., 101 Spadina with II BY IV Design and Gladstone Media

• FRAM + Slokker, Mississauga, Ont. and 52 Pick-up Inc., Toronto, SH – Brochure/Kit

• Lucchetta Homes, Welland, Ont. and 180 Marketing, St. Catharines Ont., WaterCrest at Hunters Pointe

• Madison Group, Toronto, Brooklin Towns

• Madison Group, Toronto, The Captiol Residences

Best Website

• Madison Group, Toronto, The Capitol Residences

Best Digital Advertising Campaign

• DeSantis Homes, Grimsby, Ont., Valery Homes, Hamilton, Ont. and McOuat Partnership, Markham, Ont., Livingway with KNYMH Inc.

Best Print Ad, Branthaven Homes

• Devron Developments, North York, Ont. 101 Spadina with II BY IV Design and Gladstone Media

Best Print Ad

• Branthaven Homes, Burlington, Ont., Classic Drive with Pureblink

• Devron Developments, North York, Ont. 101 Spadina with II BY IV Design and Gladstone Media

• Gold Park Homes, Concord, Ont. and McOuat Partnership, Markham, Ont. Pine Valley Forevergreen with Hunt Design Associates and ADHOC Studio

Best Virtual Tour Experience

• DeSantis Homes, Grimsby, Ont., Valery Homes, Hamilton, Ont. and McOuat Partnership, Markham, Ont., Livingway with KNYMH Inc. Best Sales Office

• Branthaven Homes, Burlington, Ont., High Line Condos with II BY IV Design

• Madison Group, Toronto, Madison Group High Rise Presentation Centre

• Minto Communities Management Inc., Toronto, Park & Main

• Mountainview Building Group, Thorold, Ont., Design House with Drake Khan Design and My Design Studio

Best Short Video (under 45 seconds)

• Arista Homes, Vaughan, Ont. Arista Homes – Corporate

Best Long Video (45 seconds and longer)

• Camrost Felcorp Inc., Toronto, 36 Brentcliffe Luxury Rentals

• Devron Developments, North York, Ont., 101 Spadina with II BY IV Design, Gladstone Media

Best Renderings

• Devron Developments, North York, Ont., 101 Spadina with II BY IV Design and Gladstone Media

• Freed Developments, and Pureblink, Toronto, Freed Hotel & Residences

• Madison Group, Toronto, The Capitol Residences

• Mattamy Homes and QuadReal Property Group Toronto, The Clove with Turner Fleischer, U31, Giannone Petricone Associates Inc. Architects

• Tribute Communities, Pickering, Ont. and Pureblink, Toronto, 210 Bloor Best Branding and Identity

• Camrost Felcorp, Toronto, 36 Brentcliffe Luxury Rentals

• Devron Developments, North York, Ont., 101 Spadina with II BY IV Design and Gladstone Media

• Gold Park Homes, Concord, Ont. and McOuat Partnership, Markham, Ont., Pine Valley Forevergreen with Hunt Design Associates and ADHOC Studio

• Kylemore Homes/Angus Glen Developments, Markham, Ont. and The Brand Factory, Toronto, South Village – Wellgen

• Madison Group, Toronto, Brooklin Towns

NEW HOME AWARDS

Best Mid- to Highrise Building (Completed)

• Menkes Developments, Toronto, Sugar Wharf with Cecconi Simone Inc. and O2 Planning + Design

• Minto Communities Management Inc., Toronto, 123 Portland

• s2e Technologies Developments Inc., St. Jacobs, Ont., EVE Park

Best Mid- to Highrise Building (Planned)

• Devron Developments, North York, Ont., 101 Spadina with II BY IV Design and Gladstone Media

• Diamondcorp and Kilmer Group, Toronto, Birchley Park with The Brand Factory

Best Sales Office, Mountainview Homes

Best Sales Office, Branthaven Homes

Best Renderings, Tribute Communities

Best Entry-Level Home

• Park View Homes, North Gower, Ont., Clifton

Best Attached Lowrise Home under 1,500 sq. ft.

• New Amherst Homes, Cobourg, Ont., Rubidge Place

• Park View Homes, North Gower, Ont., Clifton

Best Attached Lowrise Home 1,500 to 1,800 sq. ft.

• Sean, Markham, Ont., Rainwater

– Active

Best Attached Lowrise Home over 1,800 sq. ft.

• Gold Park Homes, Concord, Ont., The Manors – The Ashton

• Gold Park Homes, Concord, Ont., The Manors – The Rosecliff

• Rinaldi Homes (Niagara), St. Catharines, Ont., Moody Muse

Best Detached Production Home under 1,800 sq. ft.

• Linwood Construction, Marmora, Ont., 4 Mile Lake

• Lucchetta Homes, Welland, Ont., The Superior at WaterCrest at Hunters Pointe

Best Detached Production Home 1,800 to 2,100 sq. ft.

• Davis New Homes & Developments, Frankford, Ont., The Crimson King

• Gordon Tobey Developments, Brighton, Ont., The Serviceberry

• Rinaldi Homes (Niagara), St. Catharines, Ont., Maple Leaf Ave

Best Detached Production Home 2,101 to 2,400 sq. ft.

• Park View Homes, North Gower, Ont., The Morewood Plus

• Terra View Custom Homes, Guelph, Ont., The Mapleridge

Best Detached Production Home over 2,800 sq. ft.

• Gold Park Homes, Concord, Ont., Pine Valley Forevergreen –The Knightswood with McOuat Partnership, Hunt Design Associates, and ADHOC Studio

Best Production Kitchen

• Gordon Tobey Developments Ltd., Brighton, Ont., Serviceberry Kitchen

• Rinaldi Homes (Niagara), St. Catharines, Ont., Maple Leaf Ave

Best Bathroom

• Wynford Homes, Toronto, Ont., Signature in Sunnylea

Best Production Net Zero Home

• Lucchetta Homes, Welland, Ont., The Superior at WaterCrest at Hunters Pointe

• Stratton Homes, Huntsville, Ont., Glasshaus

COMMUNITY DEVELOPMENT AWARDS

Best New Community

• New Amherst Homes, Cobourg, Ont., The Village

Best Production Net Zero Home, Lucchetta Homes

WHAT DOES SHORT-TERM UNCERTAINTY AND LONG-TERM UNDERSUPPLY

MEAN FOR YOU?

The Toronto condominium market continues to captivate and confuse homebuyers, investors and industry watchers alike. Despite endless headlines speculating about investors’ influence, recent data clearly outlines their critical role in shaping this market.

According to Statistics Canada, nearly 39 per cent of condominium units in Toronto’s Census Metropolitan Area (CMA) in 2022 were owned by investors. But who are these investors, and what exactly are they buying? Diving deeper, the data reveals a marked preference for smaller units: Investors owned 65 per cent of condos less than 600 sq. ft., compared to just 44 per cent of units of more than 800 sq. ft. Smaller units appeal to investors not only because of higher rent per-sq.-ft. but also due to their lower down payments, quicker marketability at completion, and their attractiveness to young, costconscious renters.

While investors continue to shape what gets built, the condo market itself has been navigating turbulent waters. In 2024 alone, the GTA saw the cancellation of 14 condo projects comprising 2,805 units – the highest cancellation rate since the peak of pandemic-induced uncertainty in 2020 (per Zonda Urban). Factors such as rising construction costs, elevated interest rates, and broader economic volatility contributed to these cancellations. As a result, the

average asking price per-sq.-ft. for new unsold condos fell by 10 per cent from their peak in the third quarter of 2022, with further price declines of about 7.3 per cent forecasted for 2025 (per Bullpen Consulting).

For new-home buyers, this environment presents both hurdles and hidden opportunities. Understandably, first-time purchasers are cautious. The prospect of project cancellations, coupled with anticipated price declines, creates hesitation about investing in pre-construction condominiums. Yet, despite these short-term challenges, the projected decrease in condo prices could offer a window of affordability, providing buyers who time the market correctly with a valuable entry point.

However, buyers and investors pulling back today have significant implications for tomorrow. The current slump in sales – just 4,600 new condo sales in 2024, the lowest since 1996, as I’ve highlighted in Bullpen Consulting’s newsletter – points towards a severe undersupply emerging as soon as 2027. Annual apartment completions in Toronto, exceeding 30,000 units in recent years, could drop dramatically below 10,000 units by 2028. Such a shortage inevitably sets the stage for another wave of intense price and rental inflation reminiscent of past boom cycles.

In the interim, many cautious homebuyers might pivot toward the resale market instead. The Toronto Regional Real Estate Board (TRREB) forecasts moderate recovery in this sector, projecting a 12.4-per-cent increase in sales in 2025, along with a modest 2.6-per-cent rise in average selling prices. Importantly, TRREB anticipates single-family homes to

experience more substantial price gains compared to condos, given the more significant inventory currently available in the condominium apartment market.

Toronto’s condo market finds itself at a critical juncture, balancing short-term caution against long-term structural challenges. For new-home buyers, staying informed through credible resources, such as industry reports or even the Toronto Under Construction podcast, is crucial for navigating these dynamic conditions and making prudent investment decisions. I always recommend doing a lot of research on your own, surrounding yourself with an experienced team and adhere to your budget. Good luck.

BEN MYERS

IT’S YOUR MARKET ATTENTION POTENTIAL HOMEBUYERS:

In a recent discussion, Benjamin Tal, deputy chief economist of CIBC World Markets Inc., said loud and clear that as far as new housing goes, we are in a buyers’ market. Developers and builders are arming us with incentives and negotiating as we sell down inventory. Our industry is building very little at present, so when we get through the existing inventory, there will be demand and no supply. Bank of Canada interest rates have been on a downward pathway, and three banks recently dropped their five-year fixed mortgage rate to 3.9 per cent. With lower mortgages, investors will be back and prices will go up again. The time to buy is 2025, when there are amazing deals to be had.

There is also good news coming from GTA municipalities, some of which are finally listening to builders, developers and other experts asking for a reduction of the exorbitant development charges on new homes and condominiums. The first example is the City of Burlington, which conducted a Development Charges Background Study last year and in May 2024, lowered development charges to spur new housing builds. An unprecedented decision speaks well to the City’s commitment to remain an inclusive and accessible place for everyone.

In November 2024, the City of Vaughan dramatically reduced development charge rates across the board. The Building Industry and Land Development Association (BILD) applauded the City of Vaughan

for adopting a new Development Charges Rate Reduction and Deferral Policy. “BILD recognizes and commends Mayor Del Duca and the City of Vaughan for taking bold action to address housing supply and the cost to build by lowering development charges,” says Dave Wilkes, president and CEO of BILD.

The City of Mississauga has temporarily reduced development charges as well, by 50 per cent, and by 100 per cent for three-bedroom units in purpose-built rental buildings. In addition, Mississauga City Council will defer the collection of residential development charges for all residential developments and collect them at occupancy. “The City of Mississauga is walking the walk when it comes to new housing… We would also like to acknowledge and thank the federal government for its direct financial support of Mississauga’s efforts,” says Wilkes. “We encourage all regions, cities and towns in the GTA to follow the vision and lead of Mississauga.”

Of course, lower mortgage interest rates are a positive factor in addressing housing affordability, but for new housing, we need more than reductions in development charges.

With the federal government offering incentives for municipalities to act in efforts to ease housing affordability and supply, we should see more action from local governments. However, we also need reductions in approvals timelines. Usually these involve the builder/developer submitting detailed plans to the appropriate municipalities, as well as city staff reviews, public consultation meetings and a council vote. This can take up to two years and more, which results in home prices becoming even higher.

Sometimes needed change takes time to filter through our systems. The fact remains that anyone thinking of purchasing a new home or condo would be wise to act sooner rather than later.

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

BARBARA LAWLOR

Sundara, by Sierra

CAN FIND DEALS 5 WAYS CANADIANS

IN A SLOWER HOUSING MARKET

JESSE ABRAMS

Canada’s housing market has shifted in recent months, and for the first time in a while, buyers are regaining some leverage. With higher interest rates slowing demand and inventory increasing in many cities, we’re seeing a market that offers something we haven’t seen in years – opportunity.

At Homewise, we work with buyers across the country every day, and one thing is clear: While headlines focus on challenges, there are also real advantages for those who know where (and how) to look.

WHY A SLOWER MARKET CREATES OPPORTUNITY

During red-hot markets, bidding wars, limited inventory and fast closings made it incredibly difficult for many Canadians – especially first-time buyers – to compete. But

in today’s environment, we’re seeing a shift:

• More listings mean more choice

• Homes are sitting on the market longer, giving buyers room to negotiate

• Sellers are more motivated, especially those who bought a new home and need to sell quickly These factors combine to create a window of opportunity – particularly for buyers who have done their homework and are financially prepared.

5 WAYS TO FIND DEALS IN TODAY’S MARKET

1. Look at listings that have been sitting. Homes that have been on the market for 30-plus days can present a golden opportunity. Sellers may be open to negotiating on price, conditions, or even covering some closing costs to get the deal done.

Tip: Don’t ignore listings that have been around for a while – there’s often less competition and more flexibility.

2. Be strategic with your offers. In slower markets, conditional offers are making a comeback. You’re more likely to succeed with offers that include financing or inspection conditions, allowing you to protect yourself and move at a more comfortable pace.

This is especially valuable for firsttime buyers who want to make sure their investment is sound.

3. Consider properties that need cosmetic updates. Many buyers still want move-in-ready homes. That’s fair – but if you’re willing to take on some cosmetic upgrades, you can get into a better neighbourhood or larger property for less, simply because others overlook the opportunity.

A fresh coat of paint and some minor upgrades can add value quickly and affordably – especially if you secure a better deal upfront.

4. Explore emerging neighbourhoods. With more time to evaluate, buyers can take a step back and explore neighbourhoods that may not have been on their radar during the peak market. Look for:

• Upcoming transit expansions

• New developments or infrastructure projects

• Communities with increasing amenities and walkability

These are often future value areas where prices are more attractive today and appreciation potential is high.

5. Get pre-approved and know your budget. In any market, the most prepared buyers are the most

successful. A mortgage pre-approval not only gives you a clear sense of what you can afford – it also shows sellers that you’re serious.

At Homewise, we help Canadians get pre-approved online in just minutes, comparing many lenders to find the best fit based on your goals – not just your rate. With rates varying significantly between lenders, shopping around is more important than ever, especially at renewal.

THE MINDSET SHIFT: FROM FEAR TO OPPORTUNITY

Yes, interest rates are higher than they were in 2021. But with more room to negotiate and fewer bidding wars, buyers can now focus on value rather than urgency. Prices have softened in many markets, and this correction – paired with higher inventory – is offering a different kind of affordability.

It’s about playing the long game. A smart purchase today, even at a slightly higher rate, can be refinanced

later when rates drop. In the meantime, buyers may find they paid significantly less for the home than they would have during peak market conditions.

FINAL THOUGHT

Real estate is cyclical, and this current slowdown is part of a normal (and healthy) cycle. While every market has its challenges, this one offers buyers something they’ve been missing for years: Options.

If you’re prepared and have the right guidance, this could be the best time in years to find a home – and a deal – that sets you up for long-term success.

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

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MAXIMIZING GAINS IN A TOUGH MARKET:

THE CASE FOR GTA PRE-CONSTRUCTION HOMES

Now that we’re through the first quarter and officially into spring, still facing some of the most challenging real estate conditions in decades, there’s reason to remain cautiously optimistic about the GTA market. Despite the challenges and uncertainties, current market conditions provide a unique opportunity for prospective buyers and investors. Several factors are making this an opportune time to consider real estate investment, from interest rates and attractive incentives to the limited supply of new housing options.

per cent per year. This staggered approach can significantly ease the initial financial burden, making homeownership or investment more achievable.

Another advantage is the availability of substantial discounts offered by developers. With recent market slowdowns, many projects are incentivizing buyers with reduced prices, creating a rare opportunity to buy at a discount. Additionally, with fewer new developments breaking ground, future inventory will be limited, which could lead to a classic supply-demand imbalance and rising prices when the market regains momentum.

a unique combination of lowering interest rates, favourable purchase terms, and limited inventory. In2ition Realty offers a diverse portfolio of projects across the GTA, each designed to match these ideal conditions. Whether you’re looking for a first home, a strategic investment, or a luxury property, our range of options caters to various needs and budgets.

Today’s pre-construction condo developments offer extended closing periods, typically four to five years. This timeline allows buyers ample time to save for their deposits while securing properties at today’s prices. Additionally, many developments feature flexible deposit structures, with requirements often as low as 10 per cent total deposits, in some instances spread out as low as three

While historic gains in real estate may not replicate at the same speed in the near term, the potential for long-term appreciation remains strong. Real estate has consistently been a solid investment over the years, offering stability and tangible value. This trend, coupled with the current market conditions, means that those who enter the market now may benefit significantly as demand eventually outpaces supply.

For those considering buying pre-construction, this period offers

Explore these opportunities with us at in2ition.ca or follow us on social media @in2itionrealty for the latest updates. Don’t miss this window to secure a property before the market shifts once again, setting yourself up to benefit from the upward demand and limited future supply

HAMILTON RANKS

LAST IN NATIONAL PLANNING APPROVALS

MIKE COLLINS-WILLIAMS

The Canadian Home Builders’ Association (CHBA) recently released its 2024 Municipal Benchmarking Study, confirming that Hamilton is failing to build enough housing, with potentially catastrophic consequences. The city ranks last among 23 Canadian municipalities in approval timelines for new housing developments, a significant decline from its 15th-place ranking in 2020 and 18th in 2022. Excessive red tape, soaring municipal fees and an uncompetitive investment climate have made Hamilton one of the most difficult places to build in Canada, further driving up home prices and limiting supply.

The study highlights the extent of bureaucratic delays in Hamilton, where an average development application requires 93 separate documents and reports – almost double the national average of 50. Ontario municipalities generally require more documentation than those in other provinces, contributing to costly and time-consuming delays. These inefficiencies, coupled with significant increases in government fees, have made housing development more expensive and challenging. Since 2021, development charges in Hamilton have surged by 87 per cent, and the introduction of new Community Benefits Charges on condominiums and apartments has further increased costs.

The impact of these barriers extends beyond homebuyers and renters. The construction industry, a

major driver of Hamilton’s economy, is experiencing a downturn. With fewer housing starts, skilled tradespeople and construction workers are facing declining job opportunities. If this trend continues, Hamilton could see a significant wave of job losses in a sector that has traditionally provided stable, middleclass employment. The inability to efficiently build housing not only limits supply but also weakens Hamilton’s economic foundation at a time when stability is critical, particularly in light of growing economic uncertainty and the ongoing trade war between Canada and the U.S.

Hamilton should be wellpositioned for investment due to its proximity to the GTA and its strong industrial history. However, its failure to streamline development processes has driven investors elsewhere. By contrast, cities such as Edmonton, Calgary and London are attracting significant investment by cutting red tape and reducing unnecessary costs. While some Ontario municipalities have taken steps to improve approval timelines and lower fees, Hamilton continues to lag, putting its economic future at risk.

Addressing these issues requires decisive action. A complete review of Hamilton’s planning and development framework is necessary to remove unnecessary bureaucratic obstacles. The city must reduce approval timelines, reassess its tax and fee structures and implement process efficiencies modeled after best practices from more competitive jurisdictions. Establishing a dedicated housing and development task force could help ensure that these changes are made swiftly and effectively. The choice is clear: Reform or decline. Without bold change at City Hall, Hamilton will continue to fall behind, losing jobs, investment and residents to cities that offer a more business-friendly environment. Housing affordability is at a breaking point, and the time for meaningful action is now.

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

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GUIDED BY EXPERTISE YOUR HOME, YOUR FUTURE…

Buying or selling a home is an exciting milestone – one of the biggest financial and personal decisions you’ll ever make. It’s a journey filled with possibilities, and having the right guidance can turn challenges into opportunities. With a fast-moving market and endless information at your fingertips, working with a knowledgeable professional ensures you make confident, informed decisions every step of the way.

WHY MLS MATTERS

The Multiple Listing Service (MLS) is the most powerful tool for buyers and sellers, providing access to the most accurate and up-to-date real estate information. But it’s more than just listings – it’s a gateway to transparency, efficiency and success in your real estate journey.

A home is more than just four walls – it’s where memories are made, families grow and futures take shape. Whether you’re searching for the perfect backyard, a dream kitchen or the ideal location, MLS helps match you with the right home based on your needs and budget. In fact, more than 80 per cent of homebuyers and sellers choose to work with a realtor because they understand the value of expert guidance throughout the process.

NAVIGATING ONE OF LIFE’S BIGGEST DECISIONS

Real estate transactions involve many moving parts, and having an expert by your side makes all the difference. A realtor brings market knowledge,

negotiation expertise, and a deep understanding of legal and regulatory requirements, ensuring a smooth and successful experience from start to finish.

While some may consider going through the process alone, working with a realtor streamlines every step, minimizes stress and maximizes results. Realtors advocate for their clients, protect their interests and create seamless, ethical transactions – giving buyers and sellers confidence in their choices.

A TRUSTED PROFESSIONAL IN YOUR CORNER

Every realtor upholds a strict Code of Ethics, mandated under the Trust in Real Estate Services Act, ensuring transparency, professionalism and fair treatment. That means when you work with a realtor, you’re partnering with someone who is committed to your best interests and accountable to the highest industry standards.

Buying or selling a home isn’t just a transaction – it’s a life-changing experience. Having a trusted expert on your side means you can move forward with confidence, backed by real-time market insights, expert negotiation skills, and the knowledge to guide you through one of life’s biggest milestones.

When it comes to real estate, the right expertise makes all the difference. Find a professional you can trust at trreb.ca.

ELECHIA BARRY-SPROULE

HOW TO CAREFULLY PREPARE

TO BUY A HOME

JAYSON SCHWARZ, LLM

Here you are getting ready to make what may be the largest single purchase that you will ever make in your life, when you are confronted by daily doses of anxiety caused by uncertainty and indecision. “What do I do?” you ask yourself.

Don’t be afraid, take your time, do the necessary research to identify the area you like, the services available to you and ensure that there are no hidden matters that could affect your decisions.

Research prospective neighbourhoods for future development, possible restrictions and their potential impact on property values.

Next, have an honest look at your employment situation, speak with your supervisor and make sure things are as secure as you can. If applicable, speak to your significant other and prepare a detailed budget for all your expenses as prospective homeowners. Consider what happens if interest rates rise, and be prepared for exigencies. Open a separate homebuying deposit account, and make weekly contributions to ensure you can maximixe a down payment.

Interest rates appear to be on their way down, but in times of uncertainty, you may have to lower your expectations and move slowly. Buy a small condominium and then look to move every three to five years, as home values may not appreciate as quickly as they have

in the past. Look to live outside the city, and look for job opportunities in smaller communities with more affordable housing.

The decision to buy should be motivated directly according to what you can afford. It may be difficult, but be very selective about nights out and your discretional spending. Prioritize what you want –being able to buy a home.

The next thing to note is that the cost of construction is starting to come down, and builders will be much more amenable to negotiation than they have in many years. Find a builder that is selling to your price range and then worry about what necessities you need in your negotiations to ensure the home will work for you.

When it comes to the professionals you will need to help you with your purchase, consider this checklist:

1. MORTGAGE SPECIALIST

Whether at your bank or a mortgage broker, find a reputable financial expert you trust and are comfortable with. Find out how much money you can borrow and how much of a deposit you’ll need to put down. This will allow you to focus on homes you can afford. Get a pre-approval in writing so you have something to rely on, because today especially, it is critically important that you do not get caught up in the rush of buying a house beyond your budget. Nothing is worse than living for the house, not living in your home.

2. REAL ESTATE LAWYERS

Look around for a lawyer who focuses on residential real estate in

their firm. Check Google reviews and rankings, and look in real estate magazines such as Condo Life and HOMES. Ensure the lawyer does more than just close your deal. You want someone who will explain the different kinds of ownership, why you should have a will before closing and other matters. Make sure they actually review your offer and all associated costs.

3. REALTOR

Look for an experience realtor who knows the area you’re looking in, as well as the type of home you’re purchasing. Don’t just use a family friend or distant relative. Research potential realtors online, and get referrals from other homebuyers they’ve worked with.

Once you’ve found that perfect home, let your lawyer know so they are prepared to review the offer when received.

By fully and properly preparing for buying a home, you will change any potential anxiety and fear into excitement and a sense of accomplishment. Good luck.

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.

The timeless appeal of…

white kitchens

by LINDA MAZUR

Every where we look these days, we are seeing beautiful and colourful kitchens – rich deep blues, earthy greens, bold reds and vibrant pastels. So, with all the colourful kitchens we’ve been seeing of late, are we to assume that white kitchens are now a thing of the past? On the contrary. Though colourful kitchens are definitely on trend, the classic white kitchen is still holding its own. The bright, fresh look and feel of white kitchen cabinetry never really loses its appeal and for many is the goal for their kitchen renovation. However, just as appealing as a white kitchen can be, they can often be stark, cold and sometimes void of personality.

Kitchens are undoubtedly the heart of a home, and over the years have morphed from simple utilitarian spaces to rooms that are multifunctional living space reflecting both personal style and creativity. Boasting a more curated aesthetic with high-end finishes, custom designs and advanced technology our kitchens are not only stylish but comfortable. They are a reflection of our lifestyles and are central to our day-to-day life while having the flexibility to be an upscale extension of our living spaces for entertaining. White cabinetry offers a longevity that trend colours simply do not, there’s just no arguing that. They are an easy commitment that will offer you a lot of flexibility when it comes to the

aesthetics of your kitchen. However, moving beyond an all-white kitchen can open you up to a world of finishes, colours and inspirations that can see a bit of the current kitchen trends introduced into your space.

With all the fantastic colour options trending these days, we still find that white kitchens are not only desired but quite often preferred, because of their classic, timeless and simplistic approach. Though sometimes thought of as a safe choice, when considering the costs and longevity of kitchen trends not to mention the hassles of kitchen renovations, they are quite often the wise choice that can provide you with a blank canvass of sorts carrying you through the trends for many years to come. Whether you are drawn to the warmer more earthy whites or cooler, more modern whites, there is undoubtedly an abundant variety to select from for your millwork and accents that will set the tone for your space.

Add dimension to your kitchen with a patterned backsplash tile or use a bold marble, quartz or porcelain for your countertop, then continue it on your backsplash to really make a statement in your home. A great impactful floor tile or warm wood can be a wonderful asset in the space, as can the introduction of mixed metals and hardware. Adding strategic touches of colour or wood accents to your cabinetry can also enhance and elevate the aesthetics of your kitchen. And let’s not forget accessorizing your space with great colourful artwork, furniture or greenery to add some life to those white cabinets. The great thing about adding colour by accessorizing your kitchen is the ease with which it can be altered if you have tired of the latest trend colour… the blank canvass of a white kitchen will remain for the next

creative inspiration you may have. Kitchen renovations are an expensive endeavour, while revamping some accessories can prove to be far more palatable on your budget.

Today the movement is towards a streamlined look that highlights simplicity, functionality and style. Though the white-on-white kitchen has essentially been retired, white cabinetry has not and will always be a favourable, sought-after mainstay option in kitchen design. Instead of dreaming of an “all white kitchen” think about shaking it up a bit with the selective addition of colour, statement lighting or maybe a great wallpaper or fabric for a window treatment. When looking for inspiration for your kitchen renovation, look to see how you can introduce a mix of colours, textures and finishes to your “white kitchen” that will create for you a space that can keep you moving forward trend-wise while still giving you the white kitchen you desire.

home design

SERVE MULTIPLE PURPOSES Modern kitchens

by MARIAM ABOUTAAM

The kitchen is the heart of the home, deserving thoughtful design to ensure it is both functional and inviting. When purchasing a pre-construction home, you can personalize your kitchen by selecting colours, styles and materials included in your purchase agreement, as well as opting for upgrades to enhance your space. In designing model homes, I often start with the kitchen, ensuring it sets the tone for the entire home.

START WITH YOUR COLOUR PALETTE AND STYLE

Experienced homeowners may already have a preferred style they wish to carry into their new home or

blend with an updated look. First-time buyers, multi-generational families or those merging two households may need time to define their aesthetic. Gathering inspiration from online sources, magazine pages and visits to design showrooms can help refine your vision.

KEY DESIGN CONSIDERATIONS

Your kitchen selections will include cabinet style, material and colour; countertops and backsplash materials, flooring, sinks, cabinetry hardware and plumbing fixtures. Having a well-defined personal style and colour palette will streamline the selection process, making the most

of your design appointment with your builder’s decor professionals. Tip: Know your appliance needs When you attend your interior finishes appointment, arrive having already chosen the exact appliances and have the specifications with you.

CREATING A FUNCTIONAL SPACE

Builders and architects typically design kitchen layouts to meet the broadest of family needs. If you arrive at your decor selections appointment prepared with ideas and a wish list, you’ll discover it’s easier to personalize your home while achieving your goals. For example, if kitchen storage is important to you,

consider extending upper cabinets to the ceiling. If your floorplan allows, incorporating a floor-toceiling pantry with pull-out drawers can provide easy access to stored items while keeping countertops clutter-free.

Tip: Declutter with smart solutions Add an appliance garage for neatly storing kettles, blenders and other small appliances out of sight. Consider creating a special beverage station or niche for this purpose.

DISPLAY WITH STYLE

Do you need a place to display treasured heirlooms, gifts or travel souvenirs? Glass-front cabinets can showcase these items, especially when paired with interior lighting. As well, replacing upper cabinets with open shelving can serve as an elegant display option, just ensure that reducing cabinet storage doesn’t compromise functionality.

ENHANCING KITCHEN EFFICIENCY AND AESTHETICS

Consider who in your household does most of the cooking, as their preferences will influence the placement of key items and work surfaces. Ideally, the sink, oven and refrigerator should form a triangle to facilitate efficient workflow. If your home comes with included appliances, inquire about upgrade options. If you prefer cooking with gas, be sure to add a gas line. For a seamless look, consider panelready appliances that blend with cabinetry. Designing the range wall to be a feature, with an alcove, stone clad canopy or floating shelves, will enhance your overall kitchen experience.

DESIGNING FOR LIFESTYLE NEEDS

Your kitchen isn’t just for cooking, it may also serve as an entertainment hub, a casual dining area or even a homework space. If you enjoy entertaining, consider incorporating a wine cabinet or fridge into your layout. A kitchen island can double as a bar, a prep space and an informal dining area. If your floorplan doesn’t include an island, consult your builder about adding one.

CHOOSING THE RIGHT FLOORING

Kitchen flooring must withstand heavy foot traffic, spills and dropped items while seamlessly connecting with other areas of the home. Options such as porcelain tile, engineered hardwood and luxury vinyl flooring offer durability and aesthetic appeal. Tip: Personalize with small details Add lighting above your kitchen island on a dimmer switch and change

the ambience to suit your mood; installing a tiled “carpet” in wet areas such as between the kitchen sink and stove is a practical and decorative addition. There are many options for cabinet hardware which can both tie the whole room together and elevate simultaneously.

BRINGING IT ALL TOGETHER

Discussing these design elements with your family and decor consultant will ensure your kitchen is both stylish and practical, resulting in a welcoming space that is the centrepiece of your new home.

COMING UP NEXT…

In my next column, I’ll explore additional kitchen enhancements, such as built-in banquettes, fireplaces, coffee niches, statement lighting and accessories that infuse colour and personality into your space.

FIND YOUR NEXT HOME

BRAMPTON

1. Bristol place 199 Main St, North, Brampton

2. Duo condos Malta ave & Steeles Ave

CALEDON

3. Mayfield Collection 2256 Mayfield Road. Mayfieldcollection.ca

ETOBICOKE

4. Curio Condos 801 The Queensway marlinspring.com

5. Humberwood Heights 50 Humberwood Blvd. tributecommunities.com

6. Arcadia District Bloor & Kipling arcadiadistrict.com

7. Kül Condos 875 The Queensway kulcondos.com

MARKHAM/ UNIONVILLE

8. Panda Markham 8200 Warden Ave. lifetimedevelopments.com

9. Gallery Towers at Downtown Markahm 162 Enterprise Blvd. downtownmarkham.ca

10. Highmount 4077 Hwy. 7 highmountbykingdom.com

MISSISSAUGA

11. Birch at Lakeview Village Lakeshore & Dixie Rd. branthaven.com

12. Artform Condos 86 Dundas St. E. emblemdevcorp.com

13. Exhale Condominiums Lakeshore Rd. East & Dixie Rd. exhalelakeshore.ca

14. Residences at Harbourwalk 1260 Lakeshore Rd. East tridel.com

NORTH YORK

15. Central Park Sheppard Ave. East & Leslie St. amexon.com

16. Yonge City Square 4050 Yonge St. yongecitysquare.com

PICKERING

17. Vupoint Kingston Rd. & Liverpool Rd. tributecommunities.com

OSHAWA

18. U.C. Tower 2425 Simcoe St N,Oshawa tributecommunities.com

TORONTO

19. Lawrence Hill Urban Towns Don Mills & Lawrence lawrencehillurbantowns. com

20. 489 Wellington St. W. 489 Wellington St. W. lifetimedevelopments.com

21. 500 Dupont St. 500 Dupont St. lifetimedevelopments.com

22. Artistry Condos 292 Dundas St. W. tributeartistrycondos.ca

23. Panda Condos Yonge & Dundas. lifetimedevelopments.com

24. 36 Eglinton Ave. W. 36 Eglinton Ave. W. lifetimedevelopments.com

25. Linx Condominiums Danforth & Main tributecommunicties.com

26. Y&S Condos 2161 Yonge St. tributecommunities.com

27. 50 at Wellesley Station

50 Wellesley St. East pureplaza.com

28. No. 1 Yorkville 1 Yorkville Ave. pureplaza.com

29. Theatre District Residences Adelaide & Widmer pureplaza.com

30. Bijou on Bloor 2450 Bloor St. West pureplaza.com

31. The Briar on Avenue 368 Briar Hill Ave. pureplaza.com

32. One Seventy Spadina & Queen St. West pureplaza.com

33. King West & Charlotte King St. West & Charlotte pureplaza.com

34. Forest Hill Private Residences

2 Forest Hill Rd. foresthillresidences.com

35. Oscar Residences 500 Dupont St. W. at Bathurst oscarresidences.com

36. Kingside Residences Kingston Rd. & Danforth altreedevelopments.com

37. Allure Condominiums 250 King St. East emblemdevcorp.com

38. XO Condos King & Dufferin lifetimedevelopments.com

39. 225 Jarvis Street Condos Dundas St. East & Jarvis amexon.com

40. 101 Spadina Spadina & Adelaide 101spadina.com

41. The Residences of Central Park Sheppard Ave. East & Leslie centralparktoronto.com

42. The Dawes at Main Street Danforth & Main St. thedawes.com

43. Birchaus Birchcliffe Village on Kingston Road birchausresidences.com

44. Knotting Hill 4000 Eglington Ave. W knottinghillcondominiums. com

45. Park Avenue Place 1 & 2

Jane St. & Rutherford Rd. solmar.ca

VAUGHAN

FIND YOUR NEXT HOME

The latest properties in the Southwestern Ontario Area to keep your

BURLINGTON

1. Affinity Condos Plains Rd. E. & Filmandale Rd. rosehavenhomes.com

2. Millcroft Towns Appleby Line & Taywood Dr. branthavenmillcroft.com

3. North Shore North Shore Blvd. & Plains Rd. nationalhomes.com

FORT ERIE

4. Discoverie Condos Signature Communities discoveriecondos.ca

HAMILTON

5. 1 Jarvis 1 Jarvis 1jarvis.com

6. The Design District 41 Wilson Street emblemdevcorp.com

7. Corktown 225 John Street South corktown.condos

NIAGARA

REGION

8. Lusso Urban Towns Martindale Rd. & Grapeview Dr. lucchettahomes.com

OAKVILLE

9. The Greenwich Condos at Oakvillage Trafalgar Rd. & Dundas branthaven.com

10. Synergy McCraney St. E. & Sixth Line branthaven.com

11. Upper West Side at Oakvillage 351 Dundas St. E. upperwestsidecondos2.ca

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

13. Villages of Oakpark Dundas & Trafalgar ballantryhomes.com

STONEY CREEK

14. Casa Di Torre 980 Queenston Rd. branthaven.com

15. On The Ridge Lormont Blvd. & Chaumont Drive liveontheridge.ca

FIND YOUR NEXT HOME

Duo Brampton

style: Highrise size: 26 storeys

features: • 1 bed, 1 bed + den, 2 bed, 2 bed + den

• Lobby, Gym, Co-Working Space

• Kids Playroom, Party Room, Private Dining Room With Catering Kitchen

• Rooftop with BBQ’s, Flex Lawn, Dining and Lounge Areas register at: duocondos.ca

location: Steeles Ave. W and Malta Ave. just west of Hurontario First Release is Sold Out.

Central Park North York

developer: AMEXON DEVELOPMENT CORPORATION

style: Highrise – 12-acre, master-planned community size: 436 - 1,200 sq. ft.

prices from: from the $700,000s

features: • 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

GTA HOUSING CRISIS STUDIES PROVIDE INSIGHT

DAVE WILKES

The Greater Toronto Area is facing a housing affordability and supply crisis that threatens not only the region’s economy but also its social fabric. Two recent studies have underscored the factors that are contributing to this growing problem. To reverse this trajectory, it is crucial that we act swiftly to streamline development processes and increase the construction of homes that align with shifting demographic needs.

The first study, the Canadian Home Builders’ Association’s (CHBA) 2024 Municipal Benchmarking Study, offers a clear snapshot of how the GTA is lagging behind in the efficiency of housing approvals. The report found that the six GTA municipalities included in study take significantly longer to approve new housing when compared to the other cities in the national sample (23 in all), lagging behind major cities such as London, Edmonton, Vancouver and Calgary. These delays not only slow down the construction process, they directly drive up building costs and home prices, making homeownership increasingly out of reach for many in the region. This reinforced the findings of a companion benchmarking study by BILD, released in the fall of 2024, which revealed that the average approval timeline across 16 GTA municipalities is 21.6 months and that each month of delay adds $2,673 to $5,576 in added cost per unit.

Compounding these issues is the growing need for larger homes to accommodate the GTA’s shifting demographics. The second study, a

INTO WHAT’S BEHIND THE

recent report by the Missing Middle Initiative commissioned by BILD and the Ontario Home Builders’ Association, highlights a housing supply that is failing to keep up with the region’s evolving needs. As Dr. Mike Moffatt, the study’s author, explains, the GTA continues to experience significant population growth, yet the region’s housing stock is not adequately meeting the needs of families – particularly young families and the middle class. The report forecasts that the region will need to build 30,000 ground-oriented homes and 20,000 apartment units annually just to keep pace with demographic shifts. This represents a substantial increase in both the rate and mix of construction compared to the last decade, which has seen roughly 10,000 ground-oriented starts and 20,000 apartment starts per year.

The Missing Middle Initiative study also emphasizes that 80,000 people a year (primarily young families with children) are leaving the region for other parts of Ontario, such as London and Peterborough, or even elsewhere in Canada, in search of affordable housing that meets their needs. This underscores a significant planning challenge for municipalities in the GTA: How to encourage the development of larger, more family-oriented housing at prices that these young families can afford? After decades of policies that constrained land supply and focused on intensification, it is now essential to explore policy solutions that facilitate the cost-effective provision of housing that aligns with the current and upcoming demographic shifts in housing demand.

Both reports underscore the urgent need for reform across all levels of government. To tackle the affordability crisis, the region must take concrete

steps to simplify the approval process, which would reduce delays and development costs, enabling more homes to be built in less time. And it must also take tangible action to lower development charges, which are significantly higher in the GTA compared to other provinces, and would further reduce costs and make new homes more affordable for buyers. Additionally, the Missing Middle Initiative study calls for policies such as facilitating gentle density and expanding the availability of serviced land. These measures would encourage the construction of larger apartments, including three-bedroom units, and are crucial to meeting the GTA’s increasing demand for familysized homes.

The GTA’s affordability and supply crisis is an issue that will have a direct impact on the region’s long-term economic stability. Families are already leaving in search of better housing opportunities, and the longer we delay making necessary changes, the greater the economic and social toll will be.

By addressing approval delays, reducing municipal fees and focusing on the construction of homes that meet the region’s demographic needs, we can ensure that the GTA remains a place where people of all stages of life can find a home.

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.