Toronto New Home + Condo Guide - November 9, 2019

Greater Toronto Area Nov. 9–23, 2019

The first and only complete guide to pre-construction homes and condos

EVERYTHING UNDER ONE ROOF.

INSIDE:

AVOIDING COSTLY BUYING MISTAKES

WHAT’S UP WITH HOUSING PRICES?

CONNECTED LIVING, STEPS FROM VAUGHAN METROPOLITAN CENTRE SUBWAY STATION.

BE MOVED. Introducing Mobilio – a new neighbourhood in Vaughan Metropolitan Centre, offering condominiums and townhomes. Set along a pedestrian-friendly street, the Casa Collection of townhomes blends modern architecture and smart living spaces with premium features such as Italian-inspired cabinetry and stainless steel appliances.

Private balconies and rooftop decks make the most of sunlit days and starry nights. Enjoy living steps from transit, exciting shops and restaurants and beautiful parks, in the heart of a growing masterplanned community by acclaimed developer Menkes.

AS THE PREMIER BUILDER OF MIXED-USE COMMUNITIES IN THE GREATER TORONTO AREA, MENKES DELIVERS OUTSTANDING QUALITY AND LASTING VALUE.

NOW PREVIEWING

CONDOMINIUMS & TOWNS | LEARN MORE AT MENKES.COM/MOBILIO

THE MENKES STORE

THE MENKES CONDO GALLERY

MON TO THUR 12PM – 6PM SAT & SUN 12PM – 5PM FRIDAY CLOSED

MON TO THUR 12PM – 6PM SAT & SUN 12PM – 5PM FRIDAY CLOSED

110 HARBOUR ST. UNIT 106

4954 YONGE ST.

accessible via 416.730.1600

416.323.0100

@MENKESLIFE | MENKES.COM See sales representative for details. Illustrations are artist’s concept only. E.&O.E.

CONNECTED LIVING IN VAUGHAN METROPOLITAN CENTRE

PATH-CONNECTED WATERFRONT RESIDENCES

Mobilio Condominiums & Towns

Sugar Wharf Menkes Store Now Open

Now Previewing

Now Previewing

CHURCH & SHUTER

YONGE & EGLINTON

DUNDAS E. & JARVIS

Fleur Under Construction Move In Next Year From the Mid $700’s

The Eglinton Completed Move In Now From $1.3 Million

in.DE Under Construction Now Previewing From the Mid $600’s

LAST CHANCE TO REGISTER

Register for Your Opportunity to Live Vibrantly in Beamsville

3-STOREY TOWNS

300’s

$

from the

BEAMSVILLE | BRANTFORD | CALEDONIA | HAMILTON | PARIS

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

N PE O W O N

NOW OPEN Luxury Suites from the mid $600s Bijou is situated in the heart of charming Bloor West Village. Just steps away from the subway and right next door to a wonderful world of boutique shops and restaurants, Bijou blends sleek modern design with grand Parisian style.

For a limited time, enjoy an array of excellent incentives.

CLOSING COSTS WAIVED • NO DEVELOPMENT CHARGES •

NO TARION ENROLMENT FEES • NO ADMINISTRATIVE FEES

Presentation Centre 2450 Bloor Street West 416.862.0888 | bijou@plazacorp.com

Rendering is an artist’s impression. Certain design elements are subject to change without notice. All rights reserved. E.&O.E. 2019

The Ultimate Exclusivity.

The Well Signature Condominium, is a triumph of design. Purposely located on the quiet side of Wellington, this luxury ninety-eight suite boutique condo is designed as an escape from your everyday. Generously-sized, terraced suites overlook the new grand promenade of Wellington, blending seamlessly with the street’s historic façades. Discover the true meaning of opulence at Tridel’s Signature Condominium at The Well.

STARTING FROM $1.8M VISIT THE PRESENTATION CENTRE AT 474 WELLINGTON STREET WEST 416 649 2722 | TRIDEL.COM ©2019 Tridel is a registered Trademark of Tridel Corporation. Project names and logos are Trademarks of their respective owners.

All rights reserved. Illustrations are artist’s concept only. E.&O.E.

CONTRIBUTORS

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

CHIEF REVENUE OFFICER

Jacky Hill jacky.hill@nexthome.ca EDITOR-IN-CHIEF

Susan Legge susan.legge@nexthome.ca ART DIRECTOR

Tammy Leung

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

CONDO PRO | BARBARA LAWLOR Barbara Lawlor is president and CEO of Baker Real Estate Inc., and an in-demand columnist and speaker. A member of the Baker team since 1993, Barbara oversees the marketing and sale of condo developments in Canada and overseas.

CONTRIBUTING EDITORS

Sara Duck Marlene Eisner Amanda Pereira SENIOR MEDIA CONSULTANTS

Jessica Wilson 416.873.1049 jessica.wilson@nexthome.ca Natalie Chin 416.881.4288 natalie.chin@nexthome.ca SALES & MARKETING CO-ORDINATORS

Gary Chilvers Sarah Khan DISTRIBUTION

distributionteam@nexthome.ca ACCOUNTING INQUIRIES

accountingteam@nexthome.ca DIRECTOR OF PRINT MEDIA

Lauren Reid–Sachs

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.

GRAPHIC DESIGNER & ASSISTANT MANAGER

Alicesa Pullan GRAPHIC DESIGNER & PRE-PRESS COORDINATOR

Hannah Yarkony GRAPHIC DESIGNERS

Sandra Hanak–Vujnovic, Johannah Lorenzo, Mike Terentiev, Kathleen Walker, Alice Wu

MARKET PLACE | SARA DUCK With more than a decade of experience in the magazine world, Sara Duck brings her passion for writing and expert eye for what’s on trend to our pages.

Published by

nexthome.ca Advertising Call 1.866.532.2588 for rates and information. Fax: 1.888.861.5038

INSPIRATION | PHYLLIS LUI AND ALEEM KASSAM Award-winning, Vancouver-based interior designers Phyllis Lui & Aleem Kassam are the principal designer duo for Kalu Interiors. The firm provides bespoke design services for clientele throughout Canada. kaluinteriors.com

Circulation Highly targeted, free distribution system aimed at real estate buyers using street level boxes and racking.

Call 1.866.532.2588 to discuss distribution opportunities.

Copyright Notice All copyright and other intellectual property rights in the contents hereof are the property of NextHome, and not that of the individual client. The customer has purchased the right of reproduction in NextHome and does not have the right to reproduce the ad or photo in any other place or publication without the previous written consent of NextHome. Contents of this publication, in hard copy format as well as online, are covered by copyright law, and offenders will be prosecuted.

Copyright 2019 All rights reserved.

Reproduction, storage in a retrieval system or transmission, in any form or by any means, whether electronic, mechanical or otherwise, in whole or in part, without prior written permission of NextHome is strictly prohibited.

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

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

8 New Home + Condo Guide | Nov. 9–23, 2019

EDITOR’S NOTE

A FULL HOUSE

SUSAN LEGGE EDITOR-IN-CHIEF New Home + Condo Guide EMAIL: susan.legge@nexthome.ca TWITTER: @SusanLegge

WANT MORE NEWS IN YOUR INBOX?

This edition is a sweet one because it includes our cover story on Menkes’ beautiful Sugar Wharf community and the superlative family amenities it offers those looking for an urban lifestyle.

Beginning this issue, you’ll also find the first installment of a new series called Celebrity Homes and Condos. We take a look inside Matthew Perry’s L.A. penthouse. It is currently listed for sale at a cool $35 million (U.S.) — and it’s spectacular.

Also ahead, check out Treasure Hill Homes’ new communities and launches (starting on page 40) and get the latest goings-on around the Greater Toronto Area in our #InsideTheGTA feature beginning on page 14.

There’s plenty of other informative stories too, including our expert line up of columnists, designers and contributors— is a full house! Don’t miss Michelle Hopkin’s interview with Patrick Francey, the CEO of the Real Estate Investment Network (REIN), on avoiding costly homebuying mistakes, either. That’s on page 30.

And, since we are about to close the book on the autumn of 2019, we have plenty of cool and cosy winter decorating ideas sprinkled throughout, including gift and decor ideas from Sara Duck.

Lastly, if you’re looking for guidance on things such as EnerGuide Home Evaluations, net-zero homes, and what programs, incentives, and rebates are available to you, check out the newly-launched City of Toronto website, BetterHomesTO.ca. Created in partnership with Enbridge Gas Inc., Humber College, Toronto Hydro, Clean Air Partnership, University of Toronto Building Industry and Land Development (BILD) Association GTA, Canadian Home Builders’ Association, ecobee, School for Social Entrepreneurs, and The Roots Collaborative, we just took a look at the site and found it to be an excellent resource for making your home more energy efficient, year round. We hope you enjoy this issue. Happy new-home hunting!

Sign up for our newsletter to receive the latest highlights by visiting nexthome.ca/subscription.

+ get social

Interact with us on social media: nexthome

10 New Home + Condo Guide | Nov. 9–23, 2019

Actual View

AN ELEVATED EXPERIENCE. Welcome to the city’s most sophisticated residences. Located in the coveted Bloor Yorkville neighbourhood, 55 Charles is simply extraordinary. From its sculptural architecture to its refined amenities, to its meticulously designed suites, this development is truly one of a kind.

One of the highest amenity spaces in Toronto, the C Lounge at 55 Charles is spectacular. Perched on the 49th floor, this stunning indoor-outdoor lounge comes outfitted with inviting seating and dining areas, cozy conversation pods, and electrifying views. Perfect for dreamy dinners and moments of quiet contemplation, this supremely elegant space is just one of many stunning amenities at 55 Charles.

Make it yours.

Priced from the $700’s to over $2.5M 55charlesresidences.com

PRESENTATION CENTRE 23 St. Thomas Street, Toronto ON M5S 3E7 info@ 55charlesresidences.com 416.968.3342

Mon-Thurs 12-6pm Sat-Sun 12-5pm

Prices and specifications subject to change without notice. E. + O.E. Exclusive Broker MarketVision Real Estate Corp. Brokers protected. Illustration is artist’s impression.

Nov. 9 - 23, 2019 | volume 28, issue 21

Contents

20

Cover Story

Menkes Condo living has it all

12 New Home + Condo Guide | Nov. 9–23, 2019

Property profile 40 Treasure Hill Homes Another successful year for one of Ontario’s top builders

#BeyondtheCity 24 Design File

24

Blue makes a comeback in the kitchen

52

Celebrity Homes + Condos Matthew Perry’s L.A. condo is up for sale

In eVeRY IssUe

8

Contributors

55 Hot Properties GTA 48 Glossary 59 Hot Properties sWo 63 index of Advertisers 66 What’s online

52 #InsidetheGTA 14

30 Trending How to avoid costly mistakes when buying a new home

#insideTheGTA The latest news, numbers, trends and events

BY miCHelle HoPKiNs

33

BY susAN leGGe

16

BilD Report Provincial action plan necessary to balance housing market

BY sARA DuCK

36 Condo Pro Investing for lifestyle and financial reasons

BY BARBARA lAWloR

BY DAve WilKes

26 stat Chat What’s up with the cost of housing?

BY BeN mYeRs

28

legally speaking The ins and outs of title insurance

BY JAYsoN sCHWARZ

market Place Picks from One of a Kind

38

style File

34

Ways to warm up your decor for the winter

BY PHYllis lui AND Aleem KAssAm

44 Trending GTA new-home market continues recovery nexthome.ca 13

#InsidetheGTA

by SUSAN LEGGE

GTA

LANTERRA DEVELOPMENT’S NEW DISTILLERY DISTRICT PROJECT is on! Renowned for contributing to Toronto’s skyline and culture, Lanterra Developments just announced that sales for the residences at No. 31 have commenced. The building, located in the iconic Distillery District neighbourhood, will provide residents access to the best of the city’s downtown amenities, including Sugar Beach, the new SmartTrack and various TTC stations, while living in the heart of art, culture and history.

Interiors by Alessandro Munge of Studio Munge will provide a refined living experience that reflects the essence of the area, with a curated collection of old and new, mixing dark earth tones, exposed brick and pipping elements. Read more about this project in a future issue.

3 new condominium hot spots close to great Italian eats Who doesn’t love dining on delicious Italian food on a cold winter’s night? Check out these three new condo communities — are within walking distance a few of our favourite places.

1

2

3

Steps from the Bloor-Yonge subway, this new condo at 55 Charles Street East is also walking distance to many foodie hot spots, including the much-anticipated new location of Eataly, opening Nov. 13 at the Manulife Centre.

With its spacious kitchens, stunning views, and scenic rooftop area, living here means you can walk off your dinner at Goodfellas Wood Oven Pizza, just west of this fab Bloor St. The condo’s steps from subway line, too.

The distinctive architecture flair of this boutique condo residence is making waves in the Annex. Walk to Sopra Upper Lounge or Ristorante Sotto Sotto in minutes.

You’ll say grazie!

55charlesresidences.com

pureplaza.com

55C by Mod Developments

Bijou on Bloor by Plaza

14 New Home + Condo Guide | Nov. 9–23, 2019

Anx by Freed Developments

FreedDevelopments.com

Eataly opens in T.O. on Nov. 13

+

SOCIAL SPOTLIGHT

A new release of towns in North Oshawa at Ironwood

Check out what’s new and go behind the scenes with us by following nexthome_ca on instagram 3:25

PHOTO: ROBERT LOWDON

nexthome_ca

Back row (right to left): Oshawa Mayor Dan Carter; Podium Developments’ VP Development Christian Huggett. Front row (right to left) Podium Developments’ Project Manager Hani Agha; Managing Director Oskar Johansson; Managing Director Bernard Luttmer; Regional & Oshawa City Councillor Tito-Dante Marimpietri; Building Capital Principal Saqib Qureshi; Cranson Capital Securities’ President Devon Cranson, VP Business Development David Roff.

#instagam nexthome_ca Natalie in Toronto visited Simon and Jaclyn of the @gladstonemedia on Oct. 21st We love collaborating with our clients! #neighbourhood #canada #househunting #architecture #realestate #investment #condo #newcondo #properties #homedecor #realty #lifestyle #broker #dreamhome #realtor #Toronto #torontolife #yyz #tdot #ontario #newcondos

Having sold out the first release, Podium Developments and Building Capital recently broke ground at Ironwood in North Oshawa and released Phase 2.

The development team welcomed community partners and visitors to celebrate this milestone at the townhome collection located just north of Simcoe Street North and Taunton Road in North Oshawa. Priced from the upper $400s, a new release of lots is now available, including a limited number of park lots.

To register for this new release, please call 905-576-0139.

Richlands’ grand opening draws unprecedented crowds

Pictured on the far right, along with visitors to the Richlands sales office is Andrea DeGasperis-Ronco, Principal of OPUS Homes. Andrea designed every facet at Richlands to suit a family’s needs and lifestyle based on her experience as a mother of three children.

Richlands, OPUS Homes’ lowrise community in Richmond Hill, has officially opened its doors.

The successful opening weekend included the unveiling of a modern family collection of townhomes, semis, and detached homes on 36 and 43 ft. lots priced from $889,990 (at press time).

Andrea DeGasperis-Ronco, the Principal of OPUS Homes and a mother of three, designed Richlands to suit a family’s needs and lifestyle.

“Nothing is more important than family, and with three energetic kids in tow, I understand the value in having a home that is specifically designed for you and your family’s needs,” said DeGasperisRonco. Visit opushomes.com for more details. nexthome.ca 15

ADVICE | bIlD rEport

Housing Supply

Action plan needed to Balance market

dAve Wilkes

Like all markets, Ontario’s housing market is driven by the laws of supply and demand. Strong demand for housing has created a persistent housing supply challenge that can only be solved by boosting the number of new homes being built. This approach makes common sense and has also been supported by numerous 16 New Home + Condo Guide | Nov. 9–23, 2019

economists and academics. This is why BILD is encouraged by the provincial government’s focus on boosting housing supply.

Every month, BILD releases the previous month’s new-home sales data, gathered by Altus Group, tracking the relative health of the new housing market as reflected in sales, inventory, price per square foot and comparisons to historical trends. The data we released for September 2019 pointed to a modest recovery from the slump of the previous year, but, given that new home sales and inventory increased in tandem, underscored

that the GTA continues to experience a significant housing supply crunch.

In many previous columns I have highlighted that the GTA is one of the fastest growing metropolitan areas in North America, with an average of 115,000 net new residents per year. Our population is expected to reach 9.7 million by 2041. Given this robust growth in population, demand for housing of all types, to buy or rent, is strong and will remain so.

The challenge is that the supply side of the housing equation …continued on page 18

register now at

“

Within the cities of the GTA, the amount of available lands for new residential construction has been steadily decreasing.

…continued from page 16

in Ontario is highly regulated and dependent on factors that can make it less responsive to demand signals. The first of these factors is the supply of land designated for residential construction and serviced with the appropriate infrastructure.

Within the cities of the GTA, the amount of available lands for new residential construction has been steadily decreasing.

Another factor that restricts our housing supply relates to planning and approvals. New housing cannot simply be built anytime, anywhere. All new housing projects go through a complex 18 New Home + Condo Guide | Nov. 9–23, 2019

”

and lengthy approval process, subject to multiple pieces of provincial regulation, which is interpreted and administered by municipal governments. This slows the supply side from being able to meet demand signals. As a result, in the GTA it takes on average 10 years to complete a typical high-rise project and 11 years to complete a typical lowrise project.

Like a growing number of governments around the world, the Ontario provincial government has recognized that achieving balance in the housing market starts with increasing supply.

The government recognizes

that adding new homes helps moderate prices, creates trickledown housing opportunities for those looking to enter the housing market and has a beneficial impact on the rental market.

This month, BILD will be highlighting some of the benefits of the province’s Housing Supply Action Plan in a public education campaign called The Math is Simple. I encourage you to learn more at bildgta.ca/ themathissimple.

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, @bildgta, or visit www.bildgta.ca.

+more adVIce online nexthome.ca/news/advice

Cover Story

Condo Living Has it all With more and more families looking to settle in urban settings, condominiums have become an increasingly desirable option, and developers like Menkes are catering to the growing trend.

Gone are the days where the only gold standard for home ownership was the house in the suburbs with the white picket fence. Today many young families are setting their sights on highrise urban living, where their kids have exposure to arts, culture, and more!

They can experience all that city life has to offer, and at the same time have plenty of room 20 New Home + Condo Guide | Nov. 9–23, 2019

to play.

Enter Menkes, one of the first developers to introduce a children’s playroom as an amenity space, when it launched The Eglinton Condominium in 2014. Today—after successfully introducing both indoor and outdoor children’s spaces at its Harbour Plaza community in 2018— the developer has even grander plans for condo living that will cater to children of all ages.

While condo living once posed challenges to residents with large families or young children, the company’s latest condo projects will elevate your ability to entertain.

Sugar Wharf Condominiums, part of an 11.5-acre community on Toronto’s waterfront, will offer future residents with kids a list of amenities that rivals any children’s facility, and completely eliminates the hassle of bundling them up in cold weather, in search of local indoor entertainment.

Residents will have access to a hobby studio, an arts and crafts room, a music room, virtual reality space, and children’s playroom.

There will also be plenty of storage close to your suite to store gear and sporting equipment.

Mobilio, Menkes’ upcoming community in Vaughan

Children’s Party Room, Sugar Wharf Residences

Hobby Room, Sugar Wharf Residences Cinema, Sugar Wharf Residences

Music Room, Sugar Wharf Residences nexthome.ca 21

Metropolitan Centre, which will include a combination of condos and townhomes, is also being developed with families in mind.

“We have really considered every member of your family right down to your pets,” says Jared Menkes, Executive Vice-President, High Rise. “Mobilio will include a convenient pet-washing station.

I am also very excited about the park aspect of this project. We will have the linear park connecting all the projects together on this block and on future blocks, that provide trails and exciting ways for families to stay active.”

Mobilio will be anchored by an almost 40,000-square-foot linear park, part of Vaughan’s Black Creek Renewal project, which upon completion, will establish a series of promenades, plazas and parks, spanning over 30 acres. The community also includes attractive gathering places, walking paths and family-friendly play areas.

In cold weather, families can take advantage of Mobilio’s equally family-friendly indoor playroom.

When it comes to amenities, Menkes has carefully considered

Play Room, Mobilio 22 New Home + Condo Guide | Nov. 9–23, 2019

Outdoor Space, Mobilio

everything a family would get out of living in a single-family home, and incorporates these aspects into its condos. For those who enjoy entertaining, there are sophisticated party rooms with kitchens and bar areas, and landscaped terraces equipped with barbecues.

Want to enjoy a quiet night in?

Sugar Wharf Condos will include a state-of-the-art theatre and games lounge. And if you enjoy staying active, both projects will have a fitness centre with separate weight, virtual and yoga studios.

There is no doubt that with Toronto experiencing a housing shortage, and many families priced out of the single-family housing market in urban centres, condo living will continue to be the way of the future. Whether you’re looking to start your family, grow your family, downsize, or retire, Menkes offers condo amenities that will cater to every family, and every lifestyle.

For more information or to register for Sugar Wharf Residences or Mobilio, please visit menkes.com

INSPIRATION |

design file

the

blues Sandra MendeS, Senior deSigner at aya KitchenS, ShareS Seven reaSonS why you Should incorporate the colour blue into your Kitchen deSign.

24 New Home + Condo Guide | Nov. 9–23, 2019

1 2 3 4

Colour is having a comeback mainly because white and gray colour palettes have been so popular over the past few years. People are itching to see some colour in their kitchens.

Blue is generally a well-liked colour, and it’s neutral enough that you won’t get tired of it too quickly. It also complements many colour schemes; blue makes white pop and goes well with any shade of gray.

Blue is an excellent alternative to black, which is really trendy right now. A deep dark hue, such as our Midnight Blue shade, provides great contrast without being as dramatic or daring as black.

For the colour-shy, blue is a great accent colour. For example, use it for the island, a decorative hood or floating shelves, instead of the entire kitchen.

5 6 7

Use blue subtly for the interiors of glassfronted cabinets. A white cabinet door with a clear glass insert looking through to a blue interior. Add an LED light inside the cabinet to make the hue pop.

If you are afraid to go dark, incorporate a light shade of blue, such as our Blue Mist hue. It’s so subtle that it’s almost unnoticeable. It’s great for those wanting to introduce colour without overpowering the space.

We will see more colourful kitchens in 2020, but I see it being used more as an accent as opposed to seeing entirely colourful kitchens. Fresh colours such as blue and green look to be popular choices for 2020.

+More InspIratIon online nexthome.ca/news/inspiration

nexthome.ca 25

ADVICE | stAt ChAt

Resale Prices aRe Way Up bUt New Home Prices are DowN. What’s happening?

ben MyeRs

I’ve been employed doing real estate research on the Toronto market since 2002. In almost every year during that stretch, the average new home price has increased year-over-year.

However, according to official data from the Altus Group, the average unsold price for new single-family housing declined 3 per cent annually in September 2019 from $1.12 million to $1.08 million. The figure has been slowly trending down for two years.

26 New Home + Condo Guide | Nov. 9–23, 2019

Despite the softening, unless you’ve won Lotto 649, new home prices in Toronto are still very expensive. With prices so high, it’s natural to ask, is there a major correction coming? No one wants to buy something and immediately see the value of the item drop.

The government has taken steps to cool housing demand by implementing a mortgage stress test, which has reduced many buyer’s access to credit, which in turn lowers ownership demand. The government also instituted rent control, which they expected might reduce investor demand, as returns on hold-and-rent properties would be lower. They clearly slowed

demand, as both new and resale transactions dropped noticeably in 2018. However, the decrease in ownership demand resulted in increased rental demand, which caused a spike in rental rates for vacated properties last year. In September 2019, data from Rentals.ca showed that the average rent for vacant rental apartments in the Toronto CMA increased by almost 15 per cent year-over-year. Secondly, the resale market has started to heat up, withe Brookfield RPS Home Price index for Toronto showing a 15 per cent annual increase in September.

To further combat the rising cost of living, the provincial

“

The government has taken steps to cool housing demand by implementing a mortgage stress test, which has reduced many buyer’s access to credit, which in turn lowers ownership demand.

government wants to improve affordability for both ownership and rental housing by helping increase housing supply via changes to planning policies in their proposed Bill 108. The reaction to the bill has not been positive, especially from the Toronto planning department and many environmentalists. However, it will be several years before the impact of these policy changes are felt.

Several pundits don’t think the current demand and supply moves by the government have gone far enough, suggesting there needs to be some type of speculation tax, a vacant homes tax, and a removal of the capital gains tax exemption on primary residences. The latest federal election platforms included a national foreign buyers’ tax, and a cap on immigration to help housing affordability. One, or all of these measures could be added

over the next five years. That is a lot of changes in a short period of time. What impact will they have on the market?

Forecasting the residential housing market is virtually impossible, almost as impossible as trying to time the purchase of your home to the precise moment the market is at its low point. New single-family house prices are trending down, but how much of that has to do with more townhouse launches and fewer single-detached launches? How much of it has to do with smaller homes and smaller lot releases by builders? How much of it has to do with less supply in an expensive market like Toronto and more supply in less expensive markets like Innisfil, Georgina, Uxbridge and Clarington?

The September resale price looks like it’s appreciating quickly on an annual basis, but was

”

September 2018 a poor month?

Was there a spike in luxury product sales? Is it all product types and built forms, or just downtown highrise condos?

Data on the average price can be very deceiving and can never tell you what’s really going on.

I suggest looking at the original documents, instead of a journalist’s interpretation of the results. Really dig deep into the neighbourhood you want to buy in.

If you’re in the market for a new home, do your research on the area, the builder, and the market.

Most importantly, surround yourself with a team of experts, including a realtor that specializes in the new home market, a mortgage broker, and a lawyer.

Lastly, buy what you can afford, and only buy for the long term.

Good luck

Ben Myers is President of Bullpen Research & Consulting. Ben provides pricing recommendation, product mix, and valuation studies on new residential housing developments for builders, lenders and property owners. Ben’s firm produces monthly rental housing analysis and publishes a quarterly report on high-rise land values. Visit www.bullpenconsutling.ca or find him on Twitter @benmyers29

+MoRe aDVice online nexthome.ca/news/advice

nexthome.ca 27

ADVICE | LEGALLY SPEAKING

TiTle INSURaNCE: THE WHO, WHaT, HOW, WHEN aNd WHY

by JACQUeline moneTA JD AnD JAYSon SCHWArZ llm

JAYSon SCHWArZ

“Title insurance” is an insurance policy that protects residential or commercial property owners, and their lenders, against losses related to the property’s title or ownership.

THE WHO

Whether you currently own, or plan to purchase a property, it is important to understand title insurance and how it can work for you.

THE WHAT

“Title” means you have legal ownership over a property. You get title to a property when the owner signs the transfer document over to you. Your title is then registered with the land registry office.

28 New Home + Condo Guide | Nov. 9–23, 2019

Title insurance may provide protection from: • Unknown title defects • Existing liens against the property’s title • Encroachment issues • Title fraud • Errors in surveys and public records; and • Other title related issues that can affect your ability to sell, mortgage or lease your property

“

How much your policy will cost depends on the value of your property and the insurance company you choose. However, the fee, or premium, is only paid once at the time of purchase.

”

“

Owner’s policies protect the property owner and set a maximum amount of coverage. Lender’s policies protect a lender, such as your mortgage company, from losses if the property’s mortgage is invalid or unenforceable.

Title insurance protects you throughout the duration of your ownership. However, you should always refer to the terms of your title insurance policy for the details of coverage and/or exclusions.

THE HOW

How much your policy will cost depends on the value of your property and the insurance company you choose. However, the fee, or premium, is only paid once at the time of purchase.

Title insurance can be purchased through your lawyer, a title insurance company or a broker.

”

policies protect the property owner and set a maximum amount of coverage. Lender’s policies protect a lender, such as your mortgage company, from losses if the property’s mortgage is invalid or unenforceable.

Both title insurance policies are usually purchased at the same time you buy your property. You can also purchase residential title insurance anytime after you purchase your home, but those policies are slightly different to the policies obtained at the time of purchase.

THE WHY THE WHEN

There are two types of title insurance policies: owner’s policies and lender’s policies. Owner’s

Title insurance is not required in Ontario in order to purchase a property. However, most lenders will require title insurance before

they will fund a loan. The decision to purchase title insurance should be discussed with your lawyer to better understand the protection and determine if it’s the best option for you. It is important to keep in mind that title insurance does not replace legal advice when purchasing a property.

Perhaps the most difficult part of writing these articles relates not the actual writing, but thinking of a topic to address. So please help us!

Mail, deliver or email letters to the magazine or to us, use the web site (www.schwarzlaw.ca), email (info@ schwarzlaw.ca) and give us your questions, concerns, critiques and quandaries. We will try to deal with them in print or electronic form.

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

+more adVICE online nexthome.ca/news/advice

nexthome.ca 29

Trending

How to avoid costly mistakes wHen buying a new build

by MicHelle Hopkins

Who doesn’t love a brand-new home; a house that no one has ever lived in before? Your dream home, a fresh, clean slate with nary a fingerprint on the walls. Sometimes, though, you get so caught up in the excitement of buying that new home, you might gloss over key details that could cost you money.

So says Patrick Francey, CEO of the Real Estate Investment Network (REIN).

“Your best defense against making costly mistakes is due diligence… be excited about your new construction, but don’t be so swept up in the emotions,” Francey says. “Do your research, take 30 New Home + Condo Guide | Nov. 9–23, 2019

the time it takes so in the end, it takes less time and less stress.”

Here are Francey’s Top seven cosTly misTakes To avoid: 1. not choosing a qualified real estate agent and mortgage broker who specialize in new builds

You want to hire those who work exclusively with a developer or are well versed in new builds. The best source for finding a specialized realtor/mortgage broker is referrals. Then, don’t be afraid to ask them questions about their experience. …continued on page 32

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“

Your best defense against making costly mistakes is due diligence… be excited about your new construction, but don’t be so swept up in the emotions.

…continued from page 30

”

5. not understanding the builder’s warranties

Patrick Francey, CEO of the Real Estate Investment Network (REIN)

2. not vetting the builder

Not all builders are created equal.

If you have never bought a new build before, one of the first things is to check the builder’s credentials: How long he/she has been in business, are there complaints against them, do they owe money to their trades people? If he is legitimate, he will be happy to provide references.

Then call past clients who can vouch for them. Never sign a contract until you have checked the builder out.

3. making an offer without conditions clearly stated in the legal documents

For example, never buy a home without first having a “subject to finance” and “subject to satisfactory review” written in the documents filed by a lawyer. Also, read the contract so you know 32 New Home + Condo Guide | Nov. 9–23, 2019

exactly what is included in the price … is landscaping included?

What about light fixtures?

4. not being clear on what

Every province has new-home warranties but what about your builder’s warranties? This also goes back to references and referrals.

You must ask the builder what warranties he offers. Builders sometimes offer an “express” warranty, which has more precise wording on what is covered, and cut-off times for varying parts of a new build. A builder’s warranty spells out the remedies a builder is responsible for if there are any issues during or after the build, as well as the duration of the warranty and a mechanism for disputing issues.

upgrades are included in the price

Some people think that if they buy the model home, they get every upgrade included in the price.

Unless it’s clearly stated and in written form by the builder, you need to ask. People get a surprise when changes they’ve asked for come with a cost. Maybe in the middle of the build, you’ve decided you want to change the paint colours or you want better quality or more a powerful electrical supply. All of a sudden, you have added $1,000 more to the cost of your new home. Unless the builder stipulates in writing that the upgrades will be done without incurring a cost, assume you will be charged.

6. Unsure about financing rules

When you have a house built, you need to know in advance what your financing obligations are.

What if through the course of the build, a new stress test is applied or interest rates go up? Or what advances are required and when?

Ask! 7. move-in date delays

Delays happen and that’s why you want a lawyer involved to spell out terms in the agreement about what the builder is prepared to pay for and what you are prepared to accept, like a hotel room(s) if you have to be out of your home, and moving charges.

PRINT

Your trusted source Did you know…

59

+5

56 54

54

54

54 54

52 53

print

(journalism)

53

53

51

50 51

2012

2013

2014

2015

-2

platforms

2016

2017

2018

Average trust in traditional and online-only media Average trust in search engines and social media platforms

Source: 2018 Edelman Trust Barometer. COM_MCL. When looking for general news and information, how much would you trust each type of source for general news and information? Please use a nine-point scale where one means that you “do not trust it at all” and nine means that you “trust it a great deal.” (Top 4 Box. Trust), question asked of half of the sample. General population, 25-country global total. Journalism is an average of traditional media and online-only media. Platforms is an average of search engines and social media.

Your trusted authority for the latest real estate news and trends nexthome.ca 33

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ADVICE | ConDo pro

INVEST IN A CONDO FOR LIFESTYLE AND FINANCIAL REASONS

BARBARA LAwLOR

Most columns that refer to investing in condominiums mean adding to a financial portfolio by earning equity and rental income.

When you consider how much condos have appreciated in value over the past couple decades and the fact that the average rate for a one-bedroom rental in Toronto is now $2,300, the possibility of your purchase being lucrative over 36 New Home + Condo Guide | Nov. 9–23, 2019

time is enormous. Historically, real estate is a terrific investment – one that is concrete rather than simply words on paper. You can touch it, keep an eye on it, and it’s easier to understand than stocks. So yes, investing in a condo for financial reasons can be a wise decision.

In fact, all people who purchase new condominium suites, including end-users, typically benefit financially from ownership.

And people who live in their suites add a lifestyle investment to their enjoyment. The major component of that lifestyle investment is time – something we never seem to have enough of these days.

Condominium living involves paying a maintenance fee to have everything from staff wages to the cleaning, upkeep and repair of building systems covered over time. Having someone else clear snow, mow lawns, weed gardens, sweep leaves and the like is a wonderful thing. It frees up precious time to spend with family and friends, or simply to relax and breathe. And imagine the fun in enjoying beautiful amenities such as swimming pools, party rooms, theatres, fitness facilities, rooftop lounges, even kids’ play areas – all without leaving home.

Forget starting up the car and

“

Ownership is about financial investment, yes, but it’s about lifestyle as well. With people of all age groups and family configurations choosing condos for their homes, it is obvious that the appeal is very real.

driving to gyms. Condo living saves on gas and wear-and-tear on vehicles, which is better for the environment.

The condo lifestyle also brings with it proximity to local amenities, as by provincial standards, developers must place condominiums close to these and public transportation nodes. What a luxury it is to walk to a restaurant, dine, stroll to see a live theatre performance and then walk or take a quick cab ride home. Shopping becomes an amazing experience when the stores are nearby.

Condominiums also feature security measures in the form of

”

the concierge and strategically placed cameras. These vertical communities encourage people to get to know each other in the areas they share, such as hallways, elevators, the lobby and other amenities. As technology advances, we are also seeing more security measures showing up in condominiums, with systems in place so residents can control things such as who they invite in via cameras in their phones and in-suite monitors. Being able to control everything from suite temperature to the position of blinds saves time and creates a more welcoming environment

when coming home from work.

Ownership is about financial investment, yes, but it’s about lifestyle as well. With people of all age groups and family configurations choosing condos for their homes, it is obvious that the appeal is very real. They can spend more time with each other and with themselves, enjoying life. If you think of your life as a portfolio, adding a condominium as your residence is a wise and fun investment.

Barbara Lawlor is president and CEO of Baker Real Estate Incorporated, winner of the pinnacle 2017 Riley Brethour Award from BILD, and an in-demand columnist and speaker.

A member of the Baker team since 1993, she oversees the marketing and sales of condominium developments in the GTA and overseas. Keep current with The Baker Blog at blog.bakerrealestate.com

+mORE ADVICE ONLINE nexthome.ca/news/advice

nexthome.ca 37

INSPIRATION |

home decor file

inter

arm

p

Winterize your living space With these great décor options from Kalu interiors.

The crisp air and early evenings of winter lure us indoors to cocoon – we long to cosy up after a long day braving the freezing temperatures. When it comes to creating a warm and inviting home space during the colder months, we approach the task of seasonal decor as we would a wardrobe.

Just as the weather defines the clothes you wear, so should it play into what you have in your home.

By layering some key elements into your decor, your space will be as cosy as can be, regardless of the temperatures outside. Here are some of our favourite ways to crank up the heat, without ever touching the thermostat.

AcceSSORIze IN lAyeRS Combine colours, patterns and various textures to lend your home a warmer overall visual impact. An area rug layered over a larger rug or wall-to-wall carpet creates a 38 New Home + Condo Guide | Nov. 9–23, 2019

luxurious, “plush” effect. By much the same logic, double up on your cushions and throws, too. Sofas, loveseats, chairs and even a corner of the room can instantly become that coveted “cocoon” we all so desperately need.

HeAvy FAbRIcS Heavier textiles are a great addition to the home when the temperatures fall. Think velvet, thickset corduroy, faux fur, wool and chunky cable-knit designs.

Swap out your lighter bedding and use richer, heavier textural and weighted sheets, blankets, bedspreads and beloved accent pillows. Consider swapping out your window coverings with the change in seasons, too. While a second set of heavier fabric drapes is definitely a bit of additional investment, it’ll be worth the spend and the benefits are twofold.

You’ll create a warmer, cosier look overall in your home, and more substantial window coverings can help naturally regulate your home’s internal temperature, giving your utility bills a break.

WARm lIgHT Believe it or not, the type of light bulbs you choose has a significant impact on the temperature of your space. The neutral option is called “bright white,” which is not quite yellow (on the warm side) nor blue (on the cool side). If you wish to warm up the look of your home, replace your bright-white bulbs with soft white ones, which are a slightly warmer shade and a very popular choice in living rooms and bedrooms, where a cosy ambience is typically preferred. With all light, we can’t stress this enough – use dimmer switches! We recommend putting a dimmer on every light.

They are a great way to customize your home’s lighting, depending

on the season, the occasion or your mood. Short of these nofail solutions to winter’s worst misdeed, one of the easiest and cheapest ways to warm up your home is with good oldfashioned candlelight. When the temperatures drop, line your mantles, windowsills, shelves and tabletops with arrangements of glowing pillars and tea-light candles. Now, let’s not forget the obligatory PSA: be careful never to leave burning candles unattended. Or consider highquality faux battery candles.

With Canada’s drastic swings in temperature throughout the year, it only makes sense that our homes adapt to provide us with comfort and style. With the right seasonal switch-ups, your home will be perfectly toasty, all year round.

Award winning Interior Designers Phyllis Lui and Aleem Kassam are the Principal designer duo for Kalu Interiors. For more than a decade this Vancouver-based design firm has become known and focused on creating thoughtfully curated interiors that enhance and inspire how you live. The firm provides bespoke design services for clientele throughout Canada. kaluinteriors.com

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nexthome.ca 39

PROPERTY PROFILE

A SucceSSful Year For An AwArd-winning HomeBuilder Treasure Hill is one of Ontario’s top new homebuilders. As a result of their commitment to building only the highest quality new homes, Treasure Hill was the recipient of eight awards in 2019, including being the two-time Project of the Year winner in the Low Rise 40 New Home + Condo Guide | Nov. 9–23, 2019

category locally at the Building Industry and Land Development, BILD Awards and provincially at the Ontario Home Builders’ Association Awards of Distinction!

As 2019 comes to an end, it is refreshing and uplifting to look back at what has been a truly

successful year for Treasure Hill.

The builder launched several new communities across the GTA and garnered positive results across the board.

REcORd SaLES In 2019

Treasure Hill reached record

“

Treasure Hill has truly outdone themselves over the course of the past year, managing to reach record sales after selling over 500 homes across numerous new communities in the GTA.

sales this year, selling over 500 homes across numerous new communities in the GTA. At Adena Views in Aurora, Treasure Hill sold over 100 luxury single-detached homes in less than three weeks.

Another community by Treasure Hill – The Oakes in Oakville –

also offered luxury singles and completely sold out Phase 1.

Orchard East, a single-detached community, is currently 50 per cent sold in Bowmanville.

Kingsview Ridge in Oshawa sold out Phase 1 as well, offering both bungalows and two-storey singles

”

to new homeowners. Georgina Heights in Keswick offered both bungalows and two-storey singles, and sold out not only Phase 1, but Phase 2 also sold out shortly after it was launched.

In Richmond Hill, the builder released a townhome community, nexthome.ca 41

“

Treasure Hill is known for building new homes at the highest standard, combining ideal locations, beautiful exteriors and stunning interiors.

”

Canyon Hill, which sold out over 120 units in under three weeks.

Trendi Towns, a new townhome community by Treasure Hill in Markham, also sold out both the first and second phases.

The award-winning community, Charbonnel Towns, only has a handful of townhomes remaining in its prestigious Summerhill location.

LOOkIng FORwaRd TO ThE FuTuRE

This year has truly been a year to be proud of and Treasure Hill is looking forward to what’s to come in 2020.

New communities are scheduled in some of the GTA’s most desirable locations including townhomes in Maple, Bolton, Vaughan and Markham; single42 New Home + Condo Guide | Nov. 9–23, 2019

detached homes in Oshawa and Keswick; and luxury singles in Brampton. abOuT TREaSuRE hILL

Treasure Hill is known for building new homes at the highest standard, combining ideal locations, beautiful exteriors and stunning interiors. Their commitment and dedication have established them as a leader in the industry.

Whether you’re searching for a single-family home, bungalow, semi, or townhome, Treasure Hill can provide you with exactly what you’re looking for.

Register today at treasurehill.com to receive the latest updates about communities across the GTA.

+

LOcaTIOnS Coming in 2020 to: Maple Bolton Vaughan Markham Oshawa Keswick Brampton buILdER Treasure Hill cOnTacT Register at TreasureHill.com

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Trending

GTA new home mArkeT continues recovery

The GTA new home market was relatively strong in September, both in terms of new home sales and new project openings, the Building Industry and Land Development Association (BILD) announced in its September sales report.

There were 3,061 new home sales in September, according to Altus Group*, BILD’s official source for new home market intelligence.

This was up 73 per cent from September 2018 and 6 per cent above the 10-year average.

Condominium apartments in low, medium and high-rise buildings, stacked townhouses and loft units accounted for 2,107 new home sales, up 39 per cent from September 2018 and 12 per cent above the 10-year average.

Single-family home sales, with 954 detached, linked and semidetached houses and townhouses (excluding stacked townhouses) sold, were up 283 per cent from last September and just 5 per cent below the 10-year average.

With a number of new projects coming to market in September, remaining inventory increased from the previous month, to 18,745 units. Remaining inventory includes units in preconstruction projects, in projects currently under construction and in completed buildings.

“September provided additional evidence that the new home market in the GTA is recovering nicely from last year’s slump,” said Patricia Arsenault, Altus …continued on page 50 44 New Home + Condo Guide | Nov. 9–23, 2019

“

Condominium apartments in low, medium and high-rise buildings, stacked townhouses and loft units accounted for 2,107 new home sales, up 39 per cent from September 2018 and 12 per cent above the 10-year average.

”

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REAL ESTATE GLOSSARY AdjuSTAbLE-RATE And fixEd RATE moRTgAgES There are generally two types of conventional mortgages – a fixed-rate and an adjustable-rate mortgage. An adjustable-rate mortgage means the interest rate can change over the term of the loan. A fixed-rated mortgage simply means that the interest rate stays the same through the entire term of the mortgage and is “locked in”.

AmoRTizATion This process combines the interest and principal together in an established schedule of payment installments, rather than simply paying off interest at the start, which helps build home equity early on.

ASSESSEd vALuE This is how much a home is worth according to a public tax assessor who makes this determination in order to figure out how much city or state tax the owner owes.

CLoSing Closing refers to the meeting that takes place where the sale of the property is finalized. At the closing, buyers and sellers sign the final documents, and the buyer makes the down payment and pays closing costs. It is advisable to have a lawyer facilitate closing.

Condo ownERShip Condominium ownership is real estate that is independently owned and sellable, but the owners of the individual units also collectively own the common areas, amenities and utilities which are managed collectively by the owners as outlined in the Ontario Condominium Act.

CLoSing CoSTS In addition to the actual price of a home, there are also closing costs, which will typically make up about two to five percent of the purchase price, not including the down payment. Examples of closings costs include the mortgage processing costs, title insurance, and excise tax, and legal fees.

dEbT To SERviCE RATio This amount shows the ratio of your household’s debt payments to gross household income. Banks look at this when assessing how much money to loan you.

fREEhoLd ownERShip

3-STOREY TOWNS

see page 2 for more info

Freehold means permanent and absolute tenure of land or property with freedom of full use and control of the land and buildings on it, subject to any rights of the Crown, local land-use bylaws and any other restrictions in place at the time of purchase.

gRoSS dEbT SERviCE RATio The percentage of your gross monthly income that housing-related payments (mortgage, property taxes and heating) eats up. Depending on your situation, to qualify for a mortgage, your GDSR should be 39 per cent (or less) of your gross monthly income.

48 New Home + Condo Guide | Nov. 9–23, 2019

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Specifications and information correct at press time. Map not to scale. E & O.E.

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“

With a number of new projects coming to market in September, remaining inventory increased from the previous month, to 18,745 units.

”

…continued from page 44

Group’s Executive Vice President, Data Solutions. “The degree of improvement in both new home sales and new project openings this year has been contained, however, and there are no signs of overheating in the market.”

The benchmark price of new single-family homes in September was $1,081,175, down 3.4 per cent over the last 12 months.

The benchmark price of new

condominium apartments was $841,159, up 6.5 per cent over the last 12 months.

“While new home sales and inventory have been increasing, the GTA continues to experience a significant housing supply crunch,” said David Wilkes, BILD President & CEO. “We must continue to focus on the supply side of the housing equation to address this generational challenge for the long term.”

SepTember new Home SaleS by municipaliTy: SepT 2019 region

condominium aparTmenTS 2019

2018

2017

Single-Family 2019

2018

**

ToTal 2017

2019

2018

2017

durHam

30

15

16

148

41

90

178

56

106

HalTon

279

41

324

352

44

133

631

85

457

peel ToronTo yorK gTa

183

131

387

154

56

65

337

187

452

1,294

1,212

1,059

38

7

10

1,332

1,219

1,069

321

121

55

262

101

53

583

222

108

2,107

1,520

1,841

954

249

351

3,061

1,769

2,192

*Source: altus group

With 1,500 member companies, BILD is the voice of the home building, land development and professional renovation industry in the Greater Toronto Area. The building and renovation industry provides $34 billion in investment value and employs 270,000 people in the region. BILD is proudly affiliated with the Ontario and Canadian Home Builders’ Associations.

50 New Home + Condo Guide | Nov. 9–23, 2019

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Celebrity Homes + Condos

Matthew Perry’s Perry’s 40th floor measures in at 9,318 square feet with ceiling-to-floor views over Los Angeles — visually stunning in daylight and sparkling with lights at night.

F

riends superstar Matthew Perry is no stranger to real estate deals and over the last 10 years, in addition to acting, writing and producing, has been buying, restyling and reselling some fabulous California homes.

The most recent that has come to market is this glamorous 40th-floor apartment in the celebrity-approved, paparazziproof 42-story Century condominium. Perry purchased the apartment, which covers the entire 40th floor of the building, right after selling another stunning home in L.A.’s Hollywood Hills Bird Streets in 2017. After bringing in his team of architect Scott Joyce and interior designer LM Paganoe, Matthew put it on the market at $35 million US dollars.

Designed by Robert A. M. Stern Architects in 2009, Century attracted Candy Spelling, widow of filmmaker Aaron Spelling, who bought the top two floors 41 and 42, Paula Abdul, Elizabeth Berkley and Rihanna. Many more flocked to Century from film industry elites, CEOs and celebrity chefs. In 2017, Perry bought the entire 40th floor.

The building rises above four acres of lush private gardens.

A LEED Silver certified building, it comes with a 75-footlong swimming pool, screening room, yoga and Pilates studios and a wine-storage facility.

52 New Home + Condo Guide | Nov. 9–23, 2019

Photo credit: Michael MacNaMara aNd JasoN sPeth www.toPteNrealestatedeals.coM/weekly-teN-best-hoMe-deals

jaw-dropping L.a. penthouse

nexthome.ca  53

Celebrity Homes + Condos continued

Perry purchased the apartment, which covers the entire 40th floor of the building ...

Perry’s 40th floor measures in at 9,318 square feet with ceiling-to-floor views over Los Angeles visually stunning in daylight and sparkling with lights at night. It includes enormous rooms – a living room with two fireplaces, huge master suite with multiple living areas. Overall, there are four bedrooms and eight baths, game room and home theatre. The chef’s kitchen has island seating as well as a table for casual dining and a separate dining room with glass walls highlighting the views. Four terraces are perfect for entertaining and dining.

Best known for his role as Chandler Bing in the mega-hit sitcom Friends, where he made $1 million per episode, Perry has continued to act in television, film and on stage. His recent project is a twopart miniseries starring as Ted Kennedy in a Reelz production of The Kennedys: After Camelot.

Having resided in New York for the last year, Matthew is selling his 40th-floor apartment in the celebrity-laden Century condominium in Los Angeles. Priced at $35 million, the listing agents are Greg Holcomb and Cassandra Petersen of Compass Realty, Los Angeles.

54 New Home + Condo Guide | Nov. 9–23, 2019

HOT PROPERTIES

find your next home

The latest properties in the greater toronto Area to keep your eye on B. upper valleylands By: Fieldgate Homes City: Brampton Housing type: Semis, single-detached and freehold townhomes from upper $500s fieldgatehomes.com

c. keystone By: Kaneff City: Mississauga Housing type: Highrise condo suites keystonecondos.ca

d. impressions 8. edenBridGe kinGsway

Gta prevIew reGistration 1. saturday in downsview park By: Mattamy Homes City: Toronto, North York Housing type: Condominium mattamyhomes.com

2. suGar wharf By: Menkes City: Toronto Housing type: PATH-connected waterfront condos menkes.com

3. klein estates By: Lindvest City: Kleinberg Housing type: Upscale detached homes on 42 and 50 ft. lots lindvest.com

4. Bijou on Bloor By: Plaza City: Toronto Housing type: Condo pureplaza.com

5. whitBy meadows By: Fieldgate Homes Location: Whitby Housing type: Detached fieldgatehomes.com

By: Tridel Location: Toronto Housing type: Condominium Tridel.com

13. moBilio By: Menkes City: Vaughan, Concord Housing type: Condo menkes.com/mobilio

17. eleven altamont By: Heathwood Homes City: Toronto, North York Housing type: Townhomes Heathwood.com

19. the thornhill By: Daniels & Baif Developments City: Thornhill Housing type: Condominium suites TheThornhill.com

20. lakeside residences By: Greenland City: Toronto Housing type: Condominium suites LakesideToronto.com

+

e. illumina By: Molinaro Group City: Burlington Housing type: Condo illuminacondos.ca

h. aqualuna By: Tridel City: Toronto Housing type: Condo tridel.com/aqualuna

j. evermore By: Tridel City: Etobicoke in Toronto Housing type: Condo Tridel.com

k. auBerGe on the park By: Tridel City: Toronto Housing type: Condo www.tridel.com/auberge

21. 55 charles By: Mod Developments City: Toronto Housing type: Condominium 55charlesresidences.com

new openinGs

7. thirty six zorra By: Altree Developments Location: Toronto Housing type: Condominiums thirtysixzorra.com

By: Fieldgate Homes City: The Village of Kleinburg Housing type: Luxury singles fieldgatehomes.com

a. country lane By: Heathwood Homes City: Whitby Housing type: Detached homes. Models now open Heathwood.com

maps Locate properties using the map on the following page

Builders If you would lIke to Include your prevIew regIstratIon, new release or sIte openIng In thIs feature, just emaIl the detaIls to editorial@nexthome.ca nexthome.ca  55

HOT PROPERTIES | GREATER TORONTO AREA

F D 3

13 17

1

C

K

B 16

21 8 15

J

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

®

56 New Home + Condo Guide | Nov. 9–23, 2019

17 14 C

7

2

H

I

A

5

NEW HOMES NEW CONDOS

CARTOGRAPHY: MARKETMAPS.COM

MAP LE GE N D

nexthome.ca  57

THE ELEPHANTS IN THE ROOM

Now is the time for bold leadership to fix a generational housing and supply challenge that is making home ownership unaffordable.

What are today’s facts?

22%

100k 11

years

231k

What can the future look like?

of the cost of a new home is made up of government fees, taxes and charges.*

Nearly 4 million residents in the GTA will need housing by 2041. The solutions are at our doorstep.****

future GTA housing units are stuck in a log jam at the Local Planning Appeal Tribunal, reducing supply. (LPAT)**

• More supply • More cost certainty • Less red tape

is the average time it now takes to complete a low-rise project in the GTA. in lost person-years in construction jobs as a result of housing shortfalls.***

58 New Home + Condo Guide | Nov. 9–23, 2019

• More affordable housing options • More jobs

To find out more please visit bildgta.ca/reports * Altus Government Charges and Fees on New Homes in the GTA 2018 ** Steve Clark, Minister of Municipal Affairs and Housing *** Altus Unmet Demand Analysis 2019 **** Statistics Canada

HOT PROPERTIES

Find your next home The latest properties in southwestern ontario to keep your eye on e. elements By: Mountainview Homes City: St. Catharines Housing type: Luxury oneand two-bedroom condos elementscondo.com

F. the PreserVe By: Mattamy Homes City: Oakville Housing type: Townhomes mattamyhomes.com

9. homestead

sWo prevIew registration 1. casa di torre By: Branthaven Homes City: Stoney Creek Housing type: Condos from 550 to 978 sq. ft. from the low $300s branthaven.com

2. one tWenty condominiums By: Mountainview Homes City: Fonthill Housing type: Condominiums mountainview.com

3. the mcKenzie By: Losani Homes City: Caledonia Housing type: Towns and singles mckenziecaledonia.ca

4. Brant West By: Losani Homes City: Brantford Housing type: Towns and singles brantwest.com

5. the Peninsula By: Losani Homes City: Paris Housing type: Towns, semis and singles parispeninsula.com

6. synergy By: Branthaven Homes City: Oakville Housing type: Urban trailside condos branthaven.com

+

By: Branthaven Homes City: Mount Hope in Hamilton Housing type: 33, 36, 38 & 40 ft. singles branthaven.com

10. Winona county By: Branthaven Homes City: Winona county Housing type: 36 & 40 ft. singles branthaven.com

g. FallingWaters By: Losani Homes City: Stoney Creek Housing type: Luxury townhomes email: Pronto@LosaniHomes.com

h. timBerWood estates By: Mountainview Homes City: Thorold Housing type: Townhomes, detached homes timberwoodestates.ca

11. WaterWorx By: Losani Homes City: Hamilton Housing type: Townhomes LosaniHomes.com

neW oPenings a. lyon’s creeK By: Mountainview Homes City: Niagara Falls Housing type: Semis lyonscreekhomes.com

B. Vista ridge By: Losani Homes City: Beamsville Housing type: Townhomes and detached losanihomes.com

i. saFFron estates By: Mountainview Homes City: Fonthill Housing type: Townhomes, detached homes saffronestates.ca

J. simPly grand By: Losani Homes Location: Paris Housing type: semis and singles losanihomes.com

K. Wallaceton By: Heathwood Homes Location: Kitchener Housing type: Towns and detached homes heathwood.com

c. sParroW meadoWs By: Mountainview Homes City: Welland Housing type: Singles and townhomes sparrowmeadows.com

d. lincoln estates By: Losani Homes City: Lincoln Housing type: Single-detached homes losanihomes.com

maPs Locate properties using the map on the following page

Builders If you would lIke to Include your prevIew regIstratIon, new release or sIte openIng In thIs feature, just emaIl the detaIls to editorial@nexthome.ca nexthome.ca  59

HOT PROPERTIES | SOUTHWESTERN ONTARIO AREA

KITCHENER–WATERLOO

Guelph

K

Waterloo Kitchener

Milton

Cambridge

J

Brantford

Hamilton

5

4

LONDON

9

3

London

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

60 New Home + Condo Guide | Nov. 9–23, 2019

Mississauga

MAP LE GE N D NEW HOMES

F 6

E

NEW CONDOS

Oakville

Burlington

11

G B

E D

St Catharines H

Niagara Falls

2

A

I

C

Welland CARTOGRAPHY: MARKETMAPS.COM

10

nexthome.ca  61

PRINT

It’s diverse Did you know…

95

%

of adults 18–29 read magazines vs. 81% who use Facebook.

People of all ages read magazines — especially younger adults.

Your trusted authority for the latest real estate news and trends Sources: the Magazine Media Factbook 2018 – MPA–The Association of Magazine Media; Pew Research Center Social Media Fact Sheet, Feb 2018; GfK MRI, Fall 2017

62 New Home + Condo Guide | Nov. 9–23, 2019

townhome

Condo

Bungalow

Location BuiLder/deveLoper name Site name

semi

#IntheCity

detached

index of advertisers

priceS

page

Bloor West village

Plaza pureplaza.com

Bijou on Bloor

•

Inquire

5, IBC

Bloor Yorkville

Mod developments inc.

55 Charles Residences

•

From 500's

11

downsview park

Mattamy Homes mattamyhomes.com

Saturday in Downsview Park

•

$4,990

IBC

etobicoke

tridel tridel.com

Evermore

Inquire

4,5

etobicoke

Mattamy Homes mattamyhomes.com

Vita on the Lake

•

Inquire

IBC

etobicoke

Mattamy Homes mattamyhomes.com

Vita Two

•

Inquire

IBC

north York, on

Mattamy Homes mattamyhomes.com

Origins of Don mills

•

•

Inquire

IBC

north York, on

Mattamy Homes mattamyhomes.com

Park Place on Patricia

•

Inquire

IBC

Queens Quay east

tridel tridel.com

Aqualuna

•

Inquire

6,7

Scarborough

Mattamy Homes mattamyhomes.com

Thomson Towns

•

Inquire

IBC

Scarborough

Mattamy Homes mattamyhomes.com

Upper Summerside

•

Inquire

IBC

toronto

altree developments

Thirty Six Zorra

•

From 300's

17

toronto

Menkes menkes.com

Sugar Wharf

•

Inquire

IFC

toronto

tridel tridel.com

Auberge on the Park

•

Inquire

6,7

toronto

tridel tridel.com

Edenbridge

•

From 900's

6,7

•

nexthome.ca 63

Beamsville

Losani Homes losanihomes.com

Vista Ridge

•

Bracebridge, on

Mattamy Homes mattamyhomes.com

White Pines

•

Brampton

Mattamy Homes mattamyhomes.com

Union Mount Pleasant

Brantford

Losani Homes losanihomes.com

Brant West

Burlington

Molinero Group

Illumina Condos

caledon/Brampton Border

fieldgate Homes fieldgatehomes.com

Upper Valleylands

caledonia

Losani Homes losanihomes.com

The McKenzie

Fonthill

Mountainview Homes mountainviewhomes.com

One Twenty Condominiums

Fonthill

Mountainview Homes mountainviewhomes.com

Saffron Estates

Fonthill

Mountainview Homes mountainviewhomes.com

Homestead

Hamilton

Losani Homes

Waterworx

Kitchener

Heathwood Homes

Wallaceton

•

Kleinburg

fieldgate Homes fieldgatehomes.com

Impressions

•

Kleinburg

Mattamy Homes mattamyhomes.com

Kleinburg Summit

Lincoln

Losani Homes losanihomes.com

Lincoln Estates

markham

Mattamy Homes mattamyhomes.com

The Condominiums of Cornell

milton

Mattamy Homes mattamyhomes.com

Hawthorne South Village

mississuga

Kaneff

Keystone

niagara Falls

Mountainview Homes lyonscreekhomes.com

Lyon's Creek

oakville

Branthaven Homes thetauntonapartments.com

The Taunton

oakville

Mattamy Homes mattamyhomes.com

oakville

townhome

Condo

Bungalow

semi

Location BuiLder/deveLoper name Site name

detached

#BeyondtheCity

•

priceS

page

From $300’s

4,48

$419,990

IBC

From $300’s

IBC

From 400's

4,48

•

Inquire

51

• •

•

From $500’s

9

•

•

Inquire

4,48

•

Inquire

45

•

Inquire

45

•

Inquire

45

•

From $300’s

4,48

•

From $500’s

19

Inquire

9

$799,990

IBC

Inquire

4,48

By Appointment

IBC

Inquire

IBC

Inquire

23

From $400's

45

•

Inquire

46, 47

East Preserve

•

$580,000

IBC

Mattamy Homes mattamyhomes.com

The Preserve

•

Inquire

IBC

oakville

Mattamy Homes mattamyhomes.com

The Preserve Woodland Estate

•

Inquire

IBC

paris

Losani Homes losanihomes.com

Simply Grand

• •

Inquire

4,48

paris

Losani Homes losanihomes.com

The Peninsula

• •

Inquire

4,48

pickering

Mattamy Homes mattamyhomes.com

Seaton Whitevale

•

Inquire

IBC

64 New Home + Condo Guide | Nov. 9–23, 2019

• • •

•

• • • •

• •

•

• •

pickering

Mattamy Homes mattamyhomes.com

Seaton Taunton

richmond Hill

Mattamy Homes mattamyhomes.com

Richmond Green

St catharines

Mountainview Homes mountainviewhomes.com

Elements

Stoney creek

Branthaven Homes casaditorrecondos.com

Casa Di Torre

Stoney creek

Losani Homes losanihomes.com

Fallingwater

West Brampton

fieldgate Homes fieldgatehomes.com

Valleylands

•

Welland

Mountainview Homes mountainviewhomes.com

Sparrow Meadows

•

Welland

Mountainview Homes mountainviewhomes.com

Timberwood Estates

•

Whitby

Mattamy Homes mattamyhomes.com

Queen's Common

Winona

Branthaven Homes branthaven.com

Life

Winona

Branthaven Homes branthaven.com

Winona County

•

townhome

Condo

Bungalow

semi

Location BuiLder/deveLoper name Site name

detached

#BeyondtheCity

$400,000

IBC

•

$845,000

IBC

Inquire

45

From $300’s

46, 47

From $600’s

4,48

Mid $900’s

9

Inquire

45

Inquire

45

499,000

IBC

Inquire

46, 47

Inquire

46, 47

• • • •

page

•

•

•

priceS

•

nexthome.ca 65

WHAT’S ONLINE

TRENDING NOW THE LATEST REAL ESTATE NEWS FROM ACROSS CANADA

AVOID COSTLY MISTAKES WHEN BUYING A NEWLY BUILT HOME

REDESIGNING A BASEMENT FROM THE GROUND UP

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nexthome.ca/basement-redo

AN EDUCATED CONDO BUYER IS A HAPPY CONDO OWNER

CHOOSE A HOME TYPE THAT IS RIGHT FOR YOU

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T O W N H O M E S W I T H PA R K V I E W S .

Looking for a city address? Welcome to Parkside Towns at Saturday.

Nestled beside Downsview Park, these Classic and Urban townhomes are a great option. With a $10,000 initial deposit and great incentives, it’s affordable and convenient. Close to the subway, highways and other life’s necessities, it’s easy to fall for Parkside Towns.

TOW NHOME S S TA RTING FROM THE HIGH $60 0’S.

It’s unbe-leaf-able!

SHEPPARD KEELE

DOWNSVIEW PARK

Saturday in Downsview Park Sales Centre. 2995 Keele Street, North York Mon to Thurs 12-7pm / Fri 1-6pm / Sat & Sun 11-6pm. 416.630.8282. MATTAMYHOMES.COM Prices, specifications and promotions are subject to change without notice. E. & O.E.

N PE O W O N

NOW OPEN Luxury Suites from the mid $600s Bijou is situated in the heart of charming Bloor West Village. Just steps away from the subway and right next door to a wonderful world of boutique shops and restaurants, Bijou blends sleek modern design with grand Parisian style.

For a limited time, enjoy an array of excellent incentives.

CLOSING COSTS WAIVED • NO DEVELOPMENT CHARGES •

NO TARION ENROLMENT FEES • NO ADMINISTRATIVE FEES

Presentation Centre 2450 Bloor Street West 416.862.0888 | bijou@plazacorp.com

Rendering is an artist’s impression. Certain design elements are subject to change without notice. All rights reserved. E.&O.E. 2019