Next Home + Condo Guide GTA - Mar. 16, 2019

Greater Toronto Area Mar. 16–30, 2019

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

INSIDE:

HOUSING PLANS MOVING IN THE RIGHT DIRECTION

WHICH WAY WILL CONDO PRICES GO IN 2019?

CONVENIENT, CONVENIENT, CONNECTED, CONNECTED, CALEDONIA CALEDONIA LocatedLocated along the along banks theof banks the Grand of theRiver, GrandCaledonia River, Caledonia is only ais15 only minute a 15 minute drive away drivefrom away Hamilton. from Hamilton.

With it’s With it’s small town smallappeal, town appeal, Caledonia Caledonia is the perfect is the perfect place toplace slow to down, slowplant down, some plant roots some and roots raise and your raise expectations. your expectations.

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O.E E & O.E

W O N R TE IS G RE

Brilliantly Bloor Steps away from Jane Station, the Bijou dazzles brilliantly above the charming shops of Bloor West Village, perfectly embodying the intersection of sleek design and old world opulence.

With large suites, stunning interiors, private terraces, and an array of exceptional amenities to elevate your day-to-day, at the Bijou, there truly is no place like home.

REGISTER AT PUREPLAZA.COM

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

WATERFRONT WATERFRONT ARCHITECTURE: ARCHITECTURE: PLACEMAKING PLACEMAKING AND AND CONTEXT. CONTEXT. WATERFRONT ARCHITECTURE: PLACEMAKING AND CONTEXT.

From From aa vertical vertical village village to to sculptured sculptured museum, museum, Danish Danish architectural architectural firm firm 3XN 3XN blends blends From a vertical village along to sculptured museum,of architectural firm 3XN blends humanism and the the cities. some humanism and beauty beauty along the waterfronts waterfronts ofDanish the world’s world’s cities. Experience Experience some of of humanism and beauty along the waterfronts of the world’s cities.

Experience some 3XN’s 3XN’s most most arresting arresting creations, creations, including including the the recent recent Toronto Toronto additions additions Aqualuna Aqualuna and andof 3XN’s most arresting creations, including the recent Toronto additions Aqualuna and Aquabella, Aquabella, in in the the public public exhibit exhibit Waterfront Waterfront Architecture: Architecture: Placemaking Placemaking and and Context.

Context.

Aquabella, in the public exhibit Waterfront Architecture: Placemaking and Context.

Free Freeand andopen opento tothe thepublic publicat atthe theAqualuna AqualunaPresentation PresentationCentre Centre––Now Nowuntil untillate latespring. spring.

Free and open to the public at the Aqualuna Presentation Centre – Now until late spring.

©© Tridel Tridel2019.

2019.®Tridel, ®Tridel,“D” “D”design, design,Tridel TridelBuilt Builtfor forLife, Life,Tridel TridelBuilt Builtfor forLife LifeDesign, Design,and andBuilt BuiltGreen GreenBuilt Builtfor forLife Lifeare areregistered registered

Trademarks Trademarksof ofTridel TridelCorporation.

Corporation.Project Projectnames namesand andlogos logosare areTrademarks Trademarksof oftheir theirrespective respectiveowners. owners.All Allrights rightsreserved. reserved.Building Buildingand and ©Tridel 2019. ®Tridel, “D” design, Tridel Built for Life, Tridel Built for Life Design, and Built Green Built for Life are registered view viewnot notto toscale. scale.Illustrations Illustrationsare areartist’s artist’sconcept conceptonly. only.*Prices *Pricesand andspecifications specificationssubject subjectto tochange changewithout withoutnotice. notice.E.&O.E. E.&O.E.March March2019.

2019.

Trademarks of Tridel Corporation. Project names and logos are Trademarks of their respective owners. All rights reserved. Building and view not to scale. Illustrations are artist’s concept only. *Prices and specifications subject to change without notice. E.&O.E. March 2019.

AQUALUNA AQUALUNA PRESENTATION PRESENTATION CENTRE CENTRE 261 261 Queens Queens Quay Quay East East || 416.514.2710 416.514.2710

Monday Monday to to Thursday, Thursday, 11 11 AM AM –– 77 PM PM Weekends & & holidays, holidays, 12 12 PM PM –– 55 PM PM Weekends

tridel.com tridel.com

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 conTribuTing eDiTors

stat chat | ben Myers Ben Myers is president of Bullpen Research & Consulting, a boutique real estate firm that advises land owners, developers and lenders on housing market conditions that can impact their development projects. Follow Bullpen on Twitter at @BullpenConsult or visit bullpenconsulting.ca

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

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.

Gary Chilvers Sarah Khan distribution

distributionteam@nexthome.ca AccounTing inquiries

accountingteam@nexthome.ca DirecTor of PrinT meDiA

Lauren Reid–Sachs grAPhic Designer & coorDinATor

Alicesa Pullan grAPhic Designers

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.

Miguel Cea, Sandra Hanak–Vujnovic, Johannah Lorenzo, Mike Terentiev, Kathleen Walker, Alice Wu, Hannah Yarkony Published by

nexthome.ca Advertising call 1.866.532.2588 for rates and information. fax: 1.888.861.5038

MARKETPLACE | 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.

Circulation highly targeted, free distribution system aimed at real estate buyers using street level boxes and racking. call 1.855.826.4200 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.

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

6 New Home + Condo Guide | Mar. 16–30, 2019

EDITOR’S NOTE

back to basics, again

susAn legge EDITOR-IN-CHIEF nexthome+condoguide EMAIL: susan.legge@nexthome.ca TWITTER: @susanlegge

While putting together this issue, I quickly realized we needed to make more room for project openings, so that’s exactly what we did.

With interest rates holding tight, new-home and condo builders are releasing some of the most innovative and incentivized new communities to hit the market in years.

Since we want you to have first crack at the opportunities, we didn’t hold back, covering new communities from east to west, and outside of the GTA as far south as the Cayman Islands.

On our cover, a terrific promotion from our cover story builder, The Conservatory Group — offering a zero per cent mortgage rate for a three-year term and no stress test.

Check out page 16 for the full story.

Also in this issue, Canada’s first net-positive residential condominium from the Howland Group in Milton (see page 14), as well as news about the new three-bedroom familyfriendly condominium suites at M2M in North York and much more!

Also in this issue: - Not one, but two informative columns from real estate lawyer Jayson Schwarz based on questions from our readers.

- An insightful column from Barbara Lawlor about being realistic and patient when it comes to condominium closings and construction.

- Ben Myers on market crashes (or the lack thereof).

It’s back to basics for New Home + Condo Guide. Be sure to check out our social posts where we share our news, trends and new openings, too. We’re on Facebook, Instagram and Twitter.

can neW-hoMe deFiciencies Permit you to not close the deal?

56

+ get social 8 New Home + Condo Guide | Mar. 16–30, 2019

Interact with us on social media: nexthome

Illustrations are artist’s concept. E. & O. E.

The best of the city awaits.

Dine on King Street, indulge on Queen Street and then come home to 543 Richmond.

Condos from the $500s VISIT THE SALES CENTRE TODAY 636 King St W, Toronto, ON • 647.351.4120

pembertongroup.com

March 16-30, 2019 | voluMe 28, issue 6

Contents

16 on the CoVeR:

the Conservatory Group offering 0% interest for three years with a 15% deposit at select locations across the gta** (details inside)

10 New Home + Condo Guide | Mar. 16–30, 2019

æ Beyond The City PRoPeRty PRoFile

52

The residences at seafire Beach-side luxury living in the Cayman Islands

tRendinG

50 hhhBa hall of Fame Fred and Lino Losani honoured for outstanding contributions to the building industry

adViCe

56 legally speaking Can I refuse to close my home due to deficiencies?

By jayson schWarz

in eVeRy issue

36 FeatuRes

adViCe

12

20 BilD report

#condocity The latest news, numbers, trends and events

Ontario’s update of development and housing plans is the right move

By DaviD Wilkes

PRoPeRty PRoFiles

14

howland Green

22

New family-friendly threebedroom condo suite is now open to tour in North York

hot Properties GTa

44 Glossary 57

hot Properties sWo

61

advertiser index

64 What’s online

52

legally speaking

26 stat chat Don’t expect condo prices to crash in 2019

By Ben Myers

28

condo Pro A new condo is well worth the wait

Birchcliff Urban Towns offers the perfect east-end location that’s close to it all

46 aoyuan international

41

By jayson schWarz

50 Scollard in Toronto’s Yorkville neighbourhood takes ‘luxury living’ to the next level

36 core Development

contributors

The Reserve Fund is your friend

Sustainability is a lifestyle at Bronte West Condominiums in Milton

34 lanterra Developments

6

By BarBara laWlor

insPiRation

38

home File Spring cleaning hacks By sara Duck

tRendinG

30 optimum Discovery home High-performance homes coming to SWO and Oakville nexthome.ca 11

#Condo CiTy Bayside ToronTo

(From left to right) Mark Bromiley, Rockwool; Meg Davis, Waterfront Toronto; MPP Hon. Steve Clark, Minister of Municipal Affairs and Housing; Kim Herforth Nielsen, 3XN; Crown Prince Frederik of Denmark; Avi Tesciuba, Hines; Lars Christian Lilleholt, Danish Minister for Energy, Utilities and Climate; Thomas Winkler, Danish Ambassador to Canada; Niels Tanderup Kristensen, Danish Consul General.

His Royal HigHness Crown Prince of Denmark opens new architecture exhibit at Bayside Toronto…and it’s free to attend His Royal Highness Crown Prince Frederik of Denmark visited Bayside Toronto earlier this month as part of the opening of a new architecture exhibit by Danish firm 3XN. Located inside the Hines Tridel Bayside Toronto presentation centre, Waterfront Architecture: Placemaking and Context is an exploration of harbour cities and the dynamics between buildings, public spaces, urban circulation and the water’s edge.

The Crown Prince also helped unveil plans for a new office tower at Bayside Toronto. Designed by

3XN, T3 Bayside (t3bayside.com) is conceived as a 10-storey, timberconstructed office tower by master developer, Hines. A new scale model for the building is on display as part of the exhibition.

“We are very excited about the continuous collaboration and value creation among Danish and Canadian companies in respect to creating sustainable and livable cities,” says Danish Consul General Niels Tanderup Kristensen.

“From the beginning, the world has taken note of Waterfront Toronto’s unprecedented 2,000-

“This employment data confirms the tremendous success that Toronto is achieving through the growth of its technology and financial services sectors, among others.

This also reinforces the findings of studies that show downtown Toronto having the lowest commercial office vacancy rate in North America for almost three years.”

12 New Home + Condo Guide | Mar. 16–30, 2019

acre revitalization plan—the largest such initiative currently underway anywhere,” says Avi Tesciuba, Senior Managing Director, Hines Canada.

Hines brought Canada’s leading condominium developer, Tridel, on as its exclusive residential development partner at Bayside.

The exhibit runs until late spring and is free to the public. Exhibit hours are Monday to Thursday, 11 a.m. to 7 p.m., and weekends and holidays noon to 5 p.m.

The Hines Tridel Bayside presentation centre is located at 261 Queens Quay East.

—Mayor John Tory, March 11, after announcing the number of employed Torontonians hit a new record of 1.57 million

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property profile

SuStainability … it’s a LifestyLe Howland Green Homes create buildings that result in big differences, not only for the homes and offices they build, but for the global environment at large. The goal of Beyond Net Zero (BNZ), or net positive, means that rather than adding to the worldwide carbon footprint, the result of Howland Green’s efforts is a measurable reduction in that footprint, leading to a cleaner and healthier atmosphere.

Howland Green accomplishes this admirable feat by designing 14 New Home + Condo Guide | Mar. 16–30, 2019

Dave de Sylva, President of Howland Green Homes Ltd.

and constructing buildings that use about 18 per cent of the normal amount of operating energy compared with other building techniques. This is done through any combination of clean renewable energy on and off site, together with the reduction of fossil fuel reliance in other locations. Not only do those buildings save owners thousands of dollars in energy and condo fees, it leaves a cleaner ecological footprint.

“We can reduce our

“

Now Howland Green has raised the bar by introducing the first net positive residential condominium building in Canada – Milton’s Bronte West Condominiums.

”

consumption greatly and it’s relatively easy to accomplish,” says Dave de Sylva, President of Howland Green Homes. “We need to use much less energy, in general, and start using today’s energy, such as wind and solar, rather than carbon-based options.”

Now Howland Green has raised the bar by introducing the first net positive residential condominium building in Canada – Milton’s Bronte West Condominiums. “The building will produce a negative carbon footprint on the global atmosphere,” says de Sylva.

Milton’s Bronte West will be the embodiment of construction innovation and the very definition of net positive. Powered by sun and geothermal energy, it will serve as the perfect combination of ecology, economy and technological advancement.

Milton’s Bronte West is saving more than just the planet. Thanks to all its focus on conservation, it’s saving homeowners money.

Featuring some of the lowest condo fees in the country, at $0.14/sq. ft, it’s making a strong economic case for ecology as well. Traditional condo fees are approximately $0.45/sq. ft.

Therefore a 1,000-sq.-ft. condo would cost you an additional $450 a month. But at Milton’s Bronte West, true sustainability means condo fees are dramatically

lower. Therefore, a 1,000-sq.ft. condo will cost you a mere $140 a month in condo fees. Just one more reason to call Milton’s Bronte West, home.

In addition to all the environmental benefits, Milton’s Bronte West offers many great amenities! This includes beautifully landscaped grounds with a variety of spaces to enjoy – a floral garden, a gazebo with BBQs and tables for family events, a playground for the kids and a fenced-in pet area for the other member(s) of your family. Inside, residents can enjoy the fully equipped fitness facility, yoga studio, party/amenity room and games room!

Milton’s Bronte West condominiums offer beautifully designed two- and three-bedroom suites, some with dens, that range in size from 1,078 to 1,607 sq. ft. and feature open-concept living with luxury finishes throughout and the latest in high efficiency appliances. Parking and lockers are included in the purchase price.

The future can be sustainable and it starts at home!

Milton’s Bronte West condominiums are located across the street from the Milton District Hospital, minutes from downtown, close to the Toronto Premium Outlets and the gorgeous Halton Hills.

The sales centre is located at 420 Bronte Street South, Suite 114, Milton. 289.851.0701

+

location Milton builder Howland Green Home type Condominiums SaleS centre 420 Bronte Street South Suite 114, Milton contact BronteWest.com or call 289-851-0701

Cover Story

0% 3-year mortGaGe at multIple Gta CommunItIes It’s never been easier to make your dreams Come true and own wIth

the Conservatory Group 16 New Home + Condo Guide | Mar. 16–30, 2019

For years, The Conservatory Group has been committed to developing innovative programs that help more GTA residents realize their homeownership dreams. One of their most popular homebuyer incentives is the 0% Interest 3-Year Mortgage* now available at select GTA communities. This unprecedented program allows homeowners to make interest-free mortgage payments for the first three years they live in their home.

With easy, low down payments and no bank approvals or stress tests necessary, your home ownership dreams can come true with this incredible offer. The 0% Interest 3-Year Mortgage is now available at six popular GTA communities. You can learn about them all below.

JASPER VILLAGE — MILTON

Presentation Centre: 871 Thompson Rd. Situated just a short drive from the beautiful Niagara Escarpment, this spectacular master-planned community offers a stunning selection of semi-detached and

single-detached homes with finished basements at Milton’s best location. Milton is one of the GTA’s fastest growing communities, and when you consider the many fine amenities located just minutes from Jasper Village, you can really see why. Semis and detached now available with easy down payments and the 0% interest mortgage up to 2,640 sq. ft.** Discover the large and luxurious family home you’ve been looking for at Jasper Village!

TRINITY VILLAGE — BRAMPTON

Presentation Centre: 32 Dockside Crt. Located in East Brampton, Trinity Village combines an incredible location, stylish single- and semi-detached homes and a beautiful neighbourhood design to create Brampton’s most loved established family community.

At Trinity Village, 37 ft. singles are now available with easy down payments and the 0% interest mortgage up to 3,706 sq. ft.**. Enjoy the perfect trinity

nexthome.ca 17

of beautiful homes, an amazing neighbourhood design and a convenient location when you live here!

UPPER WEST SIDE — VAUGHAN

Presentation Centre: 61 Keatley Dr. Featuring Upper Thornhill’s finest neighbourhood, Upper West Side, an exclusive community of elite estate residences. Overlooking a pond and pristine greenbelt land, this community truly is the best that Vaughan has to offer. Building on the well-established charm and sophistication of the surrounding area, yet still maintaining its own unique neighbourhood atmosphere, this inspired luxury community is destined to be the crown jewel of Upper Thornhill. The homes themselves are positively stunning.

Discover Vaughan’s finest selection of 41 and 50 ft. conservation and greenbelt lots in a luxurious natural setting. Ownership is made easy on homes up to 8,027 sq. ft.** with the 0% 3-year Mortgage and easy down payment requirements.

countryside, The Heritage Collection is a captivating luxury home community that offers great value for perfectly placed country living just a quick commute to the GTA’s top destinations. Here, homebuyers can choose from a wide array of single-detached designs. The Heritage Collection’s convenient east Stouffville location has everything you need just minutes away. Detached homes up to 4,308 sq. ft.** are now available with easy down payments and the 0% interest 3-year mortgage.

Immediate possession available!

RICHMOND GREEN — RICHMOND HILL

Presentation Centre: 10956 Leslie Street Featuring an exceptional collection of exquisite parkside towns and singles, Richmond Green offers the perfect marriage of luxury and lifestyle in a one-of-a-kind setting that you’ll love to call home. The homes of Richmond Green bring The Conservatory Group’s signature flair for prestige design excellence to an intimate master vision community setting that is without rival. Freehold townhomes are now available up to 2,909 sq. ft.** with easy down payments and the 0% interest 3-year mortgage.

OBSERVATORY HILL — RICHMOND HILL

Presentation Centre: 62 David Dunlap Blvd.

Observatory Hill is a spectacular new master-planned community located adjacent to the historic David Dunlap astronomical Observatory in Richmond Hill. Boasting a wonderful collection of luxury homes and an incredible location at Bayview and 16th Avenue, you can discover a universe of convenient family living at Richmond Hill’s best location.

Semis and detached homes are available here up to 6,928 sq. ft.**.The 0% Interest 3-Year Mortgage is only available on 36’ singles at Observatory Hill.

HERITAGE COLLECTION — STOUFFVILLE

Visit Conservatorygroup.com to view floorplans and learn more about these spectacular communities. The 0% Interest 3-Year Mortgage is only available for a limited time, so interested homebuyers should act today!

Presentation Centre: 506 Forsyth Farm Dr. Set in the pastoral Stouffville

* Builder approval still required to qualify for 0% Interest 3 Year Mortgage. Offer subject to change without notice. See Sales Representative for details. ** Maximum available square footage including basement.

18 New Home + Condo Guide | Mar. 16–30, 2019

gr an ope ni co gr an ddope ope ni nn ggco co nn titiiinninnn uu esessss gr an d n i n g n t u e gran r an d d o ope pe n ni i n n g g co co n n t t u u e e gg r g r an d o pe n i n g co n t i n u e s Join us this weekend as our Grand Opening celebration continues Join us this weekend as our Grand Opening celebration continues Join us this weekend as our Grand Opening celebration continues Join Join usus this this weekend weekend asas our our Grand Grand Opening Opening celebration celebration continues continues Join us this weekend as our Grand Opening celebration continues for the highly-anticipated release of V2 — the second phase in for the highly-anticipated release ofV2 V2 — the second phase for the highly-anticipated of V2 — the second phase in Join us this weekend as ourrelease Grand Opening celebration continues for for the the highly-anticipated highly-anticipated release release ofof V2 — — the the second second phase phase ininin for the highly-anticipated release of V2 — the second phase in the greatly sought-after Valera community.

Located in uptown the greatly sought-after Valera community.

Located in uptown the greatly sought-after Valera community. in uptown for the highly-anticipated release of V2 — Located the second phase in the the greatly greatly sought-after sought-after Valera Valera community. community.

Located Located uptown uptown the greatly sought-after Valera community.

Located ininin uptown Burlington, V2 offers you an exceptional array of amenities Burlington, V2 offers you an exceptional array of amenities Burlington, V2 offers you an exceptional array of amenities the greatly sought-after Valera community.

Located in uptown Burlington, Burlington, V2 V2 offers offers you you an an exceptional exceptional array array of of amenities amenities Burlington, V2 offers you an exceptional arraytrains, of amenities and modern conveniences — close to GO rapid transit and modern conveniences — close toGO GO trains, rapid transit and modern conveniences — close to GO trains, rapid transit Burlington, V2 offers you an exceptional array of amenities and and modern modern conveniences conveniences — — close close to to GO trains, trains, rapid rapid transit transit and modern conveniences — close to GO trains, rapid transit and highway access.

Steps to everything you need, at a fraction and highway access.

Steps to everything you need, afraction fraction and highway access.

Steps to everything you need, at aaat and modern conveniences — close to GO trains, rapid transit and highway highway access. access.

Steps Steps to to everything everything you you need, need, atat afraction afraction and highway access.

Steps to everything you need, at fraction of the price. of the price. of the price. highway access. Steps to everything you need, at a fraction ofof the the price. price. ofand the price. of the price.

visit our presentation centre visit our presentation centre visit our presentation centre visit visit our our presentation presentation centre centre visit our presentation centre 4880 valera road 905 467 5338 4880 valera road 905 467 5338 4880 valera road 905 467 5338 4880 4880 valera valera road road 905 905 467 467 5338 5338 4880 valera road 905 467 5338 visit our presentation centre 4880 valera road 905 467 5338

ADIDEVELOPMENTS.COM ADIDEVELOPMENTS.COM ADIDEVELOPMENTS.COM ADIDEVELOPMENTS.COM ADIDEVELOPMENTS.COM ADIDEVELOPMENTS.COM ADIDEVELOPMENTS.COM

presentation centre hours: mon – thurs: 2pm – 7pm, fri: closed, sat, sun + holidays: 12pm – 5pm presentation centre hours: mon –thurs: thurs: 2pm –7pm, 7pm, fri: closed, sat, sun +holidays: holidays: 12pm –5pm 5pm presentation centre hours: mon –––thurs: 2pm –––7pm, fri: closed, sat, sun +++holidays: 12pm –––5pm presentation presentation centre centre hours: hours: mon mon –thurs: 2pm 2pm –7pm, fri: fri: closed, closed, sat, sat, sun sun +holidays: 12pm 12pm –5pm presentation centre hours: mon thurs: 2pm 7pm, fri: closed, sat, sun holidays: 12pm 5pm

Prices and specifications subject to change without notice. Illustrations are artist’s concept. Exclusive Listing: PMA Brethour Real Estate Corp., Prices and specifications subject to change without notice.

Illustrations are artist’s concept.

Exclusive Listing: PMA Brethour Real Estate Corp., presentation centre hours: mon thurs: 2pm –areare 7pm, fri: closed, sat, sun +PMA holidays: 12pm –Corp., 5pm ®without Prices and specifications subject to change notice.

Illustrations artist’s concept.

Exclusive Listing: PMA Brethour Real Estate Prices Prices and and specifications specifications subject subject tochange change without without notice. notice.

Illustrations Illustrations are artist’s artist’s concept. concept.

Exclusive Exclusive Listing: Listing: PMA Brethour Brethour Real Real Estate Estate Corp., Corp.,2019.

Brokerage.

Brokers Protected.

ADI and the – ADI logo are registered trademarks of ADI Development Group and used under license. ©ADI Prices and specifications subject to®to change notice.

Illustrations artist’s concept.

Exclusive Listing: PMA Real Estate Corp., ® Brokerage.

Brokers Protected.

ADI andwithout the ADI logo are registered are trademarks of ADI Development Group andBrethour used under license. ©ADI 2019. ® ® the ADI logo are registered trademarks of ADI Development Group and used under license. ©ADI 2019.

Brokerage.

Protected.

ADI ® and Brokerage.

Brokerage.

Brokers Brokers Protected.

Protected.

ADI ADI and and the the ADI ADI logo logo areare registered registered trademarks trademarks ofADI ofADI ADI Development Development Group Group and and used used under under license. license. ©ADI ©ADI 2019.

2019.

AllBrokers rights reserved.

E.&O.E. April 2019.

Brokerage.

Brokers Protected.

ADI and the ADI logo are registered trademarks of Development Group and used under license. ©ADI 2019.

All and rights reserved.

E.&O.E. April 2019. without notice. Illustrations are artist’s concept. Exclusive Listing: PMA Brethour Real Estate Corp., All rights reserved.

E.&O.E. April 2019.

Prices specifications subject to change AllAll rights rights reserved. reserved.

E.&O.E. E.&O.E. April April 2019.

2019.

All rights reserved.

E.&O.E. April 2019.

Brokerage. Brokers Protected. ADI® and the ADI logo are registered trademarks of ADI Development Group and used under license. ©ADI 2019.

All rights reserved. E.&O.E. April 2019.

ADVICE | bIlD rEport

OntariO’s update Of develOpment and housing plans is the right move

dave Wilkes

In hindsight, the signs were there all along: A rapid escalation of land values, the slowing of new development across the Greater Toronto Area, and a rise in community resistance against new development in existing neighbourhoods. This is the legacy of the previous provincial government’s Growth Plan and housing policies in the GTA. Our current challenges around housing supply and affordability are the result.

20 New Home + Condo Guide | Mar. 16–30, 2019

The new government is looking to make much-needed changes, even as critics raise predictable objections. Never mind that these same critics never supported any development plan or are likely do to so, and never mind the disheartening prospects confronting those looking for a new home or apartment in the GTA. Nor does it matter to these pundits that the region is growing annually by 115,000 people, all requiring housing, places to work, schools and commuting infrastructure.

The fact is, despite the critics’ objections, the changes proposed by the government are quite measured and focus on two areas. The first is a housing supply

action plan that outlines how we get more homes for rent and purchase built faster. The government is looking at proposals to remove barriers and speed up development, as it currently takes more than 11 years to complete an average lowrise development and 10 years to complete an average highrise development in the GTA. The government is also looking for proposals on ways to encourage “missing middle housing” – the townhomes and low- and midrise apartments that provide gentle density in existing neighbourhoods and can serve as starter homes at a lower price point. Finally, the government is looking for proposals to lower the cost of development by addressing

the cost of land and the charges added to new developments. This in turn will positively impact the affordability of new homes.

The second area the government is focusing on is adjusting the Growth Plan, the policy that guides where and how development occurs across the GTA and the Greater Golden Horseshoe. One matter under consideration is adjusting density targets — the number of people and jobs required per hectare — a direct determinant of built form and housing mix. The current government has rightly pointed out that the one-sizefits-all approach doesn’t work, and that treating development in communities like Brantford, Hamilton and Waterloo in a manner

similar to Toronto makes no sense. Other proposed changes include giving municipalities some flexibility to develop housing on lands that have previously been designated as employment areas and on small pieces of land that are currently outside their settlement area boundaries, and continuing to encourage density around major transit station areas. If adopted, these changes will give more flexibility to municipalities and will encourage the right types of homes to be built and the right density based on the infrastructure available.

These proposed changes are all about one thing; providing homes for hardworking individuals and families across a growing region.

Our current generational housing

challenge has been 14 years in the making and through these actions, the provincial government is making good on its promise of working to increase housing supply in our region while continuing to protect the environment.

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 bildgta.ca.

+mOre adviCe Online nexthome.ca/news/advice

nexthome.ca 21

ADVICE

RESERVE FUNDS YOUR CONDO’S INSURANCE POLICY

by JaCqUEliNE MONEta JD aND JaYSON SChwaRz llM

All condominiums are required to have a reserve fund under the Condominium Act. A reserve fund is a special account, separate from the condominium’s operating fund, and it is used to pay for major repairs and replacements to the condominium’s common elements. A portion of every common expense fee is deposited into the reserve fund monthly. The reserve fund is intended to act like an insurance policy, to ensure that the corporation has enough money to cover future repairs.

22 New Home + Condo Guide | Mar. 16–30, 2019

WHEN CAN YOU DIP INTO THE RESERVE FUND?

The reserve fund can only be used to pay for major renovations or repairs; this includes replacement and non-routine repairs of common elements and assets of the condominium. If condos didn’t have reserve funds, or their reserve funds are depleted, they would need to raise large amounts of money from the owners when major repairs are required.

This lack of funds most frequently results in a special assessment.

THE RESERVE FUND STUDY

A reserve fund study determines how much money needs to be in the fund to ensure the repairs will be covered in the future. The study is usually prepared by an engineer and includes both a physical assessment of the condominium and a financial plan during the first year of the condominium corporation, then every three years.

The study will cover: • all parts of the building that need repair or replacement (ex. windows, balconies) • estimates when the repairs and/or replacements are expected to occur • estimates of the cost of each expenditure in each year • a recommended reserve fund contribution amount • recommended increases in reserve fund contributions for the …continued on page 24 following three fiscal years.

…continued from page 22

It is important to note that the reserve fund study is based on assumptions and educated guesses. These estimates may fall short in the following circumstances: • poor maintenance decisions can result in your condominium having to replace components earlier than expected • emergency repairs or replacements • postponed expenditures THE OWNERS’ PERSPECTIVE

All previous and current owners have contributed to the reserve fund. That’s because every owner who received the benefits of common elements, including the lobby, hallways and elevator, shares the responsibility of the replacement costs. Long term, as an owner, your unit will fetch a higher asking price if your property is well-maintained and the reserve fund is healthy.

24 New Home + Condo Guide | Mar. 16–30, 2019

“

Owners have the right to review the reserve fund study by asking the corporation for a copy. When you purchase a unit, a copy of the most recent reserve fund study is included with the status certificate.

Owners have the right to review the reserve fund study by asking the corporation for a copy. When you purchase a unit, a copy of the most recent reserve fund study is included with the status certificate.

As an owner, it’s important to be mindful that the reserve fund balance will fluctuate from year to year. In some years, the fund’s balance is high. After planned expenditures, the fund’s balance may be depleted. It’s important to look at the situation holistically, ask about recent repairs and plans for upcoming projects at board meetings. Much

”

like insurance, a healthy reserve fund is an invaluable tool in the condominium’s arsenal.

Mail, deliver or fax letters to the magazine or to us, use the web site (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.

+MORE ADVICE ONliNE nexthome.ca/news/advice

ADVICE | stAt ChAt

Don’t ExpEct ToronTo new Condo PriCes to crash in 2019

BEn MyErs

If you read the title of this article, you might think the author wasn’t paying attention in the early 1990s when new condo prices in the Greater Toronto Area (GTA) plunged by over 40 per cent from a market peak of $265 per-sq.-ft. (psf) in Q3-1989 to $155 psf in Q3-1993. In truth, I’ve followed the data carefully and heard the stories.

Toronto today is a very different place, and any correction that occurs won’t be nearly as deep.

In 1989, there were less than 100 actively selling new condominium apartment projects, but nearly 50 per cent of the units on the market at the time were unsold. In 2019, there are over 300 projects (likely closer to 350 when you include sold-out projects that haven’t been occupied yet), and only 17 per cent of the inventory is unsold. This is a very important fact in how quickly prices can go up and down.

When a developer sells 60 per cent to 70 per cent of their units, they often seek out banks and other lenders for construction financing. For many construction lenders, they’d would like to see enough sales in place up-front 26 New Home + Condo Guide | Mar. 16–30, 2019

to fully pay off their loan at the time the project is completed and registered. This helps prevent the oversupply that occurred in the US housing market, where many lenders were providing funding to developers before any sales were in place.

When developers reach this sales threshold, obtain construction financing and start

building, many will raise their prices above the “market level” because they know they have two to four years to build their condo project. Developers are confident that buyers will pay more for a finished product if they have units remaining at occupancy. Secondly, they want to ensure they have a way to add more revenue if their costs go up unexpectedly (higher

interest rates, trade failures, delays due to weather or strikes, new tariffs on supplies, unexpected regulation changes, etc.).

With 83 per cent of all units in active projects sold, and 95 per cent of units in buildings under construction already sold, even if market conditions change drastically, there is very little incentive for developers to lower their prices if they’ve already reached their sales threshold needed to secure construction financing. In some instances, a

developer will obtain a lowerinterest “inventory loan” on completed and unsold units and rent them out until ownership market conditions improve.

The GTA rental market recently witnessed rents increase by 10 per cent annually for condos overall, and by nearly 20 per cent in a few downtown buildings.

If the market was really soft,

unlike resale units, a new condo project may just get cancelled before a developer without ample pre-construction sales would slash prices to move units. In the late 1980s, many projects went under construction will less than 30 per cent sold, so developers with buildings under construction didn’t have the option to cancel their project.

I attended the BILD highrise forum in early March, and condo data-tracking firm Urbanation noted that new condo prices

are up 65 per cent over the past three years, a rise we haven’t seen since the 1980s heyday. However, unlike the ‘80s, most developers are asking for 20 per cent down payments, and unit assignments are only allowed with the permission of the developer, which reduces short-term speculation, given the large upfront cost ($100,000 deposit required on a 500 sq. ft.

unit downtown), and the long time from pre-construction to occupancy (anywhere from three to seven years depending on the size of the tower), which is a long time to keep capital tied up.

The other speaker at the BILD event, the Altus Group, noted that construction costs were up 15 per cent to 20 per cent in 2018.

Add on additional costs like rising government fees and charges, plus higher land costs, and there is tremendous upward pressure on new condo prices.

Again, even if demand for new condos dropped off significantly, there are still nearly 70,000 apartments under construction in the GTA that will take several years to build, and long-standing land owners that are not likely to slash the price of their lands due to a market correction that might be temporary. In other words, costs aren’t going to decline drastically.

In conclusion, people calling for a sharp drop in new condo prices don’t understand the dynamics of the market. This is not to say that prices could not decline, but if they do, it will be more like the air being slowly let out of a balloon, than an immediate and frightful pop.

With these factors in mind, it is important to buy for the long term, buy what you can afford, hire the right people to help in your real estate purchases, and do your own research! Good luck.

Ben Myers is President of Bullpen Research & Consulting, a boutique real estate advisory firm, that works with land owners, developers and lenders to better inform them of the current and future macroeconomic and site-specific housing market conditions that can impact their active or proposed development projects. Follow Bullpen on Twitter at @BullpenConsult or visit bullpenconsulting.ca

+MorE adViCe onlinE nexthome.ca/news/advice

nexthome.ca 27

ADVICE | ConDo pro

A neW CONdO iS Well WORTH THE WaIT

BArBArA lAWlor

It depends on when in a condominium’s development process you purchase a suite, but you will likely have to wait some period of time for occupancy.

Buying early from designs means you enjoy the best selection of layouts, as well as the lowest prices. You also get to pick and choose your features and finishes – and best of all, you will probably earn equity before you even move in! First-time buyers also appreciate the extra time to save money toward their down payment. A good idea is to bank the equivalent of your maintenance fee each month and use it toward your down payment.

An added benefit is that this practice helps to prepare you for budgeting once you move in.

No matter what your age or homebuying experience, you can make the most of your condominium wait time by considering the design of your décor and layout. With the floorplans offering dimensions, you can figure out what furnishings you can bring with you, and at your colour selection appointment, you will receive expert guidance in what colours and finishings look good together. You can then sell or give away your other possessions to declutter your life. I hear from condo owners all the time how freeing this experience is.

28 New Home + Condo Guide | Mar. 16–30, 2019

Empty-nesters who have accumulated “stuff” for decades often decide to sell their long-time family home and buy a condo suite. When they buy early from designs, they can also make the most of their waiting time to make the transition psychologically, as well as physically.

Patience is a virtue in another way as well. If you are among the first to move into your condo, you may have to wait awhile before the building is totally complete. Logically, developers finish the lower floors before the upper suites, so if you see trades people going up and down on the elevators, keep that in mind.

In addition, some of the amenities may not be ready for use when you occupy. To be fair, this is similar to moving into a house in a lowrise community, where homeowners have to experience dust and dirt before all the driveways and landscaping are installed.

On a positive note, residents receive snow removal, lawn mowing, concierge service and the like right away, which is a big part

of what maintenance fees cover.

My point is to encourage you to be realistic with your move, which will involve patience both before and after you move in. Make the most of the time you wait so you can make the most of your new residence. In fact, enjoy the wait, knowing that your investment will most likely increase in value by the time you move in.

Even if you purchase an inventory suite later on – and for many buyers, that timing is right – you reap the many benefits of condo living. As I love to say, GO CONDO! 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

Interest

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nexthome.ca 29

trending

high-performance homes coming to oakville and southwestern ontario Great Gulf recently unveiled a new high-performance model home designed to maximize a homebuyer’s comfort while significantly reducing energy use.

The Optimum Discovery Home features several leading-edge building design and construction technologies, offering homebuyers improved comfort, better indoor air quality, and tools to efficiently control energy use resulting in lower utility bills.

Great Gulf, an industry leader committed to building homes to higher standards, incorporates a whole-home approach using energy-efficient technologies and strategies to build homes that are more durable, sustainable and are more likely to increase in value over the years.

“This Optimum Discovery Home features the latest level of Energy Star requirements,” says Shaun Joffe, Great Gulf executive director Sustainability and Building Science.

“Our long-term commitment is to build energy-efficient and sustainable homes, providing our homeowners and their families with improved thermal comfort, air quality control and ample natural daylight. Through our partnership with Enbridge Gas, we are working diligently to educate staff on the latest technologies and innovation in high-performance construction to produce better buildings.”

“Great Gulf is building high-performance homes to differentiate themselves from the competition and offer customers tomorrow’s homes today,” says 30 New Home + Condo Guide | Mar. 16–30, 2019

From left to right: Andy Oding (Building Knowledge), Kevin Dilts, Adrian Serio, Travis James (Union Gas), Shaun Joffe and Madeline Zito.

Andy Oding, a widely recognized building consultant.

“Homebuyers typically look for aesthetic finishes, but Great Gulf goes beyond this by using innovative construction techniques and materials to build homes that are on average 20 per cent more energy efficient than required under the current Ontario Building Code.”

Great Gulf’s Optimum Discovery Home was built with the support of Union Gas’ Optimum Home Program, which equips builders in legacy Union Gas territory, with leading-edge technical and marketing training from renowned building science experts with an extensive background in energy

efficiency and sustainable housing.

The goal is to help builders design, build and market highperformance homes that exceed the current Ontario Building Code efficiency standards. The Optimum Discovery Home is located at the Oakville job site.

“Through the Optimum Home Program, builders have access to the knowledge and tools that will assist them in their journey to produce some of the most efficient homes on the market.

In turn, homebuyers will benefit from high-performance homes that are more healthy, durable, and comfortable to live in, while significantly cutting energy bills.”

Your dream home is waiting Browse the latest new homes and condos in your area Visit nexthome.ca to get started

nexthome.ca  31

PROPERTY PROFILE

Lanterra DeveLopments Ultra-lUxUry residences at 50 scoLLarD Renowned for its vision of building iconic urban condominiums, Lanterra Developments, led by Chairman Mark Mandelbaum and President and CEO Barry Fenton, announced that sales for the ultra-luxury residences at 50 Scollard have commenced.

The building, located in the heart of Bloor-Yorkville, will be unlike anything the Toronto market has seen. Designed by Foster + Partners and led by Pritzker Prize-winning architect Norman Foster, it will have extraordinary interiors by Contract Magazine’s Designer of the Year Alessandro Munge of Studio Munge, and innovative outdoor spaces from Boston’s premier landscape architects, Stoss Landscape Urbanism. Lanterra has also teamed up with Portland Holdings Inc., 34 New Home + Condo Guide | Mar. 16–30, 2019

controlled by Michael Lee-Chin, and its affiliates and friends to coinvest in this project.

50 Scollard will be a 41-storey tower comprised of just 64 units, averaging 2,500 to 3,000 sq.ft, with almost all residences featuring elevators that open directly into the unit, and most floors reserved for one to two units maximum. Raising the bar for opulent living, five-star amenities provided by Forest Hill Group will include: A chauffeured house car service for resident use, a car wash facility, a pet spa, valet parking, and an exclusively stocked wine lounge, amongst many other special and unique offerings.

“Over the past 20 years, Lanterra has distinguished itself

in the development of some of the most noteworthy condominium residences in Toronto, however no building captures the imagination quite like 50 Scollard,” says Mandelbaum.

“We are extraordinarily proud to present this project – one that will change the standard of what luxury condominium living means in Toronto.”

“We are privileged to bring 50 Scollard to market,” says Fenton.

“Our expertise has been to create developments that meet the needs of its residents, fostering communities and a sense of pride for those who live within our buildings. With this project, we are thrilled to be able to offer something so completely unique and luxurious that has yet to be

offered on this scale in the Toronto market.”

Seeking to create a timeless addition to the Toronto skyline, Nigel Dancey, head of studio at Foster + Partners, led the design team, who sculpted the massing of 50 Scollard to minimize the shadow falling on the adjacent park and schoolyard, while maintaining a purity of geometry and structural expression. Its materiality responds to the historic character of the surrounding borough. By taking an innovative approach to integrating the existing heritage building on site, whose relocation enabled the creation of a new public plaza at the corner of Bay and Scollard Street, the entire scheme has been knitted together with the rich, urban fabric of Yorkville.

“Our goal was to create a building the embodied of a sense of timelessness,” says Dancey.

“50 Scollard resonates with the historic character of the district, while being very much ‘of its own time’. The tower is therefore distinctive, but not distinct from its surroundings, setting new standards for future developments.”

The residential units have been designed with the human experience at heart. The design of the façade enables crossventilation and capitalizes on stunning views throughout. Units will feature full height operable windows and Juliet balconies, providing for modern indooroutdoor space with four-season functionality.

In the heart of sophisticated Yorkville, design had to be more than a collection of expensive materials. After a thorough review of all units coming on the market, Studio Munge hand-selected every detail to ensure a new standard of luxury for the Toronto high-end residential market, infusing interiors with exceptional European craftsmanship and sophistication.

Units will have vastly open floorplans, with impressive floor-

to-ceiling windows showcasing unobstructed east-to-west views.

50 Scollard recently was awarded a gold placement from The Nationals 2019 Awards for Best Multifamily Community Build of the year in the High-Rise category.

For more information and to register for the project, please visit fiftyscollard.com and on social media @50scollard.

+ LOcaTIOn Yorkville, Toronto DEvELOPER Lanterra Developments DEvELOPmEnT 50 Scollard HOmE TYPE Condominium cOnTacT fiftyscollard.com

nexthome.ca 35

PROPERTY PROFILE

CORE DEVELOPMENT BRINGS MODERN LIVING TO BIRCH CLIFF NEIGHBOURHOOD Urban Towns offer brand-new homes in an established community You don’t have to go far in Toronto to find a diverse and distinctive neighbourhood.

The city is blessed with many great pockets of culture and commerce, each with its own strong sense of community.

While living in an established neighbourhood is a point of pride for most Torontonians, interested buyers are hard-pressed to find reasonably priced, brand new, ground-related living in these areas, amidst all of the demand.

Core Development Group looks to tackle this problem head on, with its multi-site plans for Toronto’s underdeveloped Birch Cliff neighbourhood; three inspiring builds are poised to revitalize the east end enclave.

36 New Home + Condo Guide | Mar. 16–30, 2019

“Birch Cliff truly is a hidden gem,” explains Bryan Nykoliation, President of Core Development Group Ltd. “The neighbourhood is a charming tapestry of idyllic well-kept homes, leafy boulevards, trendy cafés and storefronts…and it’s just steps away from the lake.”

The current development, coming this month, is set at the southeast corner of Kingston Road and Birchcliff Avenue.

Birchcliff Urban Towns is, indeed, a short distance from the Beach and perfectly situated in an area bustling with restaurants, parks and schools.

The fact that the modern townhome development is so incredibly close to transit, as well as Queen East and Danforth

Village, will attract professionals and culture-lovers alike – making Birchcliff Urban Towns the perfect “close enough, far enough” neighbourhood.

With its beige-stone façade, elegant brick and oversized windows, the design is sleek and sophisticated. True to its reputation as environmentally conscious architects, RAW Design has also ensured that the homes have plenty of greenspace, highlighted by a landscaped courtyard garden, and an aesthetic in keeping with the surrounding beauty.

“We wanted a design that was connected to the community,” says Nykoliation. “And RAW came up with a master plan that seamlessly blends into the

“

With its beige-stone façade, elegant brick and oversized windows, the design is sleek and sophisticated.

neighbourhood fabric while retaining a uniqueness all its own.”

Much of that uniqueness comes from the work of awardwinning designers, U31. Noted for its clean, functional, urban flair, U31 has appointed Birchcliff’s 52 modern urban towns with features and furnishings that are at once elegant and modern.

Homes that range from 823 to 1,677 sq. ft. of indoor and outdoor space boast genuine natural oak staircase treads and wide plank laminate flooring. And with nine-ft. ceilings and expansive windows, the open concept one-, two- and three-bedroom units are bathed in natural light shining in from the balconies and terraces.

The European-inspired openconcept kitchens at Birchcliff come with an island and cabinetry in a choice of two standard schemes. Each kitchen features under-cabinet lighting as well as an elegant ceramic backsplash.

U31 had customized comfort in

”

mind when designing Birchcliff’s spa-inspired bathrooms. The quartz countertops, porcelain floor tiling and soaker tub are paired with European-style cabinetry that comes in a choice of two standard schemes.

And the team’s commitment to modern, green living means a host of environmental features for residents, including a geothermal heating and cooling system and energy efficient windows.

Outdoor living spaces abound at Birchcliff, and the rooftop terrace in particular is made for entertaining, with ample space for residents to host family and friends and enjoy the views of the city. But it’s the exquisite garden courtyard in the centre of the development that is most striking.

Lit walkways, mini-parkettes and shaded benches provide a natural refuge from the city, while keeping it all within reach.

You really don’t have to go far in Toronto to find a diverse and

distinctive neighbourhood. It’s called Birchcliff Urban Towns, and it’s a new vision of lakeside living.

To learn more about these homes, register now at coredevelopment.ca.

+

LOcaTIOn Toronto DEvELOPER Core Development Group DEvELOPmEnT Birchcliff Urban Towns HOmE TYPE Townhouses

SaLES cEnTRE 1665 Kingston Road cOnTacT coredevelopment.ca

nexthome.ca 37

Spring

INSPIRATION |

home file

cleaning hacks

by Sara Duck

are you planning to refresh your home after the long winter?

We have you covered! For the past 123 years, Libman has been producing quality cleaning products to help keep your space sparkling. We’ve teamed up with the brand to give you five cleaning hacks (with emphasis on green products) to help make the most of your spring cleaning time and resources.

1 Hack #1 - Ceiling fans Use a damp cloth or wet pillowcase (reuse old pillowcases!) to wipe ceiling fans that have accumulated cobwebs and dust during the winter. If you’re unable to reach the blades this way, try using a microfibre duster with a large extension pole for hard-toreach places.

Go green: Microfibre dust mop by Libman. The mop cloth is machine washable and the handle is made from partially recycled steel (up to 70 per cent). $17. Homedepot.ca

3 2 Hack #2 - Chandelier and ceiling fan lights Take the glass light bulb covers off ceiling fans and chandeliers and stick them in the dishwasher. They come out sparkling clean, and it’s less work for your tired hands.

Hack #3 - Area rugs Take area rugs outside on a dry day and beat them with a broom to remove dirt, lint and debris. Spray the rugs outside with a natural carpet deodorizer to refresh them and let them air dry. After bringing them back inside, vacuum rugs thoroughly.

4 Hack #4 - Linens and curtains It’s a good idea to freshen up pillows, blankets, comforters and even curtains as they have likely accumulated dust and odours. For a quick refresh, gather and hang linens and curtains outside on a clothesline. For a deeper clean, you may want to throw them into the washing machine if the tag indicates it’s safe to do so, then hang them outside.

This is both eco-friendly and economical.

Clean green!

Make these DIY eco-friendly cleaning recipes from the Oil Girls part of your cleaning routine.

5 Hack #5 - Walls Fill your sink with a natural, general purpose cleaner such as water and vinegar. Dip your very clean mop into the sink, remove all excess solution, and then mop your walls. This will remove most stains with ease! No rinsing is required, if you keep the mop dry enough.

Go green: Jumbo cotton wet mop from Libman.

This mop is made from reground or repurposed plastic shavings from drill holes. The handle is made from partially recycled steel (up to 70 per cent). $15. Canadiantire.ca For more information on Libman visit libman.com

Deodorize your carpets, upholstery and mattresses with this super natural cleaning dust. Sprinkle and let sit for two hours before vacuuming up! The baking soda absorbs any nasty odours or moisture and the Pure Young Living essential oils leave a plant power scent without the nasty synthetic chemicals found in most household products.

Super natural cleaning dust 1 cup baking soda (aluminum free) 30 drops Young Living purification essential oil 10 drops Young Living citronella essential oil Add to a glass jar. Sprinkle on any fabric surface Clean your walls (or any surface) with the germ-fighting power of Thieves. This 100 per cent natural cleaner uses the essential oils of clove, cinnamon, lemon, rosemary and eucalyptus to simplify your cleaning. Thieves cleaner concentrate is the bomb of natural cleaning solutions – simply add one capful of Thieves to a 16-oz glass spray bottle and top up with water. Use to clean windows, counters, toilets, hardwood floors and more without any harmful chemicals for children or pets to worry about.

For more tips and tricks, check out theoilgirlscanada.ca

39

CONDO & HOME BUILDERS’

ONTA R IO

Learn all about Toronto & GTA premier builders.

Find your copy of the Condo & Home Builders’ Annual with our April 13th issue of New Home + Condo Guide.

HOT PROPERTIES

find your next home The latest properties in the toronto area to keep your eye on

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8. trendi By: Treasure Hill City: Markham Housing type: Phase 3 release of modern townhomes. Register now. treasurehill.com

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d. impressions

k. auBerGe on the park

l. Bronte west condominiums By: Howland Green City: Milton Housing type: Condominium brontewest.com

e. kinGsview ridGe By: Treasure Hill City: Oshawa Housing type: Bungalows and single detached homes treasurehill.com

f. Go.2 By: Pemberton City: Toronto Housing type: Condominium Pembertongroup.com/go2

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  41

HOT PROPERTIES | GREATER TORONTO AREA

A

F D 3

G

1

C

4 B 6

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

42 New Home + Condo Guide | Mar. 16–30, 2019

7

2

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NEW HomEs NEW CoNDos

cartography: marketmaps.com

MAP LE GE N D

nexthome.ca  43

REaL EsTaTE GLOSSARY 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.

Ontario Building Code

The Ontario Building Code Act is the legislative framework governing the construction, renovation and change-of-use of a building in the Province of Ontario. It establishes detailed technical and administrative requirements in the province.

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.

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.

Freehold ownership

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

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.

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.

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”.

44 New Home + Condo Guide | Mar. 16–30, 2019

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PROPERTY PROFILE

Putting families first three-bedroom model at m2m showcases new oPtions for families living in condos M2M by Aoyuan International is an 8.6-acre master-planned condo community near Yonge and Finch subway designed to encourage a healthy urban lifestyle.

When M2M is complete, it will be a fully integrated live-work-play neighbourhood with 1,500 new residences, a community centre, a daycare, 180,000 sq. ft. of retail and office space, and a new public park. Aoyuan’s master plan and intelligently designed interior suite layouts provide a variety of living options for families in different stages of life.

46 New Home + Condo Guide | Mar. 16–30, 2019

Aoyuan built a fully furnished three-bedroom model inside the M2M Presentation Centre.

Showcasing a 1,101-sq.-ft. corner unit with floor-to-ceiling windows and a 220-sq.-ft. balcony, the model illustrates how M2M condo living doesn’t compromise on comfort and privacy typically found in single-family homes.

Model suite visitors will appreciate the walnut wood flooring, clean lines and gold accent detailing – finishes that reference the overall aesthetic of the development. Arriving at

the suite, a spacious foyer sets a welcoming, family-friendly tone. There is room for extra storage and benches to keep the assortment of hats, gloves, backpacks and after-school sports equipment under control, plus gallery walls for family photos and kid-generated artwork and treasures.

The heart of the home, the kitchen features a thick Caesarstone countertop and island with waterfall edge on both ends, complemented by a beautiful white marble tile backsplash in a

feature with the hit of a light switch.

Another first, to further enhance a purchaser’s visualization of their suite, Aoyuan constructed a floorplate model at 1:25 scale, with 11 fully furnished and finished doll house suites. The doll house model is so detailed that even the flat panel TVs and lighting are functional.

Moroccan arabesque pattern.

The kitchen includes integrated appliances, Kohler sink fixtures, Shaker-style woodgrain doors and undercabinet lighting, upgrades that are standard in all of M2M’s T1 tower suites. Additional counter space pulls out from between the microwave and the dishwasher when needed – a smart, spacesaving convenience.

The open-concept dining area features sculptural lighting set above a sleek wood table connecting the kitchen to the living room. Bedrooms,

thoughtfully located on opposite ends of this suite, maximize privacy and tranquility. This threebedroom layout also includes two bathrooms, a walk-in laundry and storage closet, and optimizes access to natural light throughout.

A first for the condominium market in Toronto, Aoyuan is including electrochromic glass in select suites to provide a choice between clear glass and frosted privacy glass controlled by a wall switch. Marketed as M2M Switchable Smart Glass, visitors can experience this innovative

The M2M sales team is made up of the best, most knowledgeable professionals in the local market.

They understand what M2M brings to North York in terms of access to transit, schools, parks and other community amenities.

Visitors can drop by the M2M Presentation Centre and Model Suite located at 5851 Yonge Street, Monday to Thursday 11 a.m. to 6 p.m. & Saturday & Sunday 12 p.m. to 6 p.m. Register at m2mcondos.com or call 416.901.2720 for an appointment.

+

LOcaTIOn Toronto DEvELOPER Aoyuan International DEvELOPmEnT M2M HOmE TYPE Condominium

SaLES cEnTRE 5851 Yonge Street cOnTacT 416.901.2720 m2mcondos.com

nexthome.ca 47

48 New Home + Condo Guide | Mar. 16–30, 2019

#BEYOnD THE cITY Must-see properties Including… Semi-detached, detached, condominium suites & townhomes

IN THIS SECTION:

BRANTFORD, CALEDONIA, FONTHILL, GRIMSBY, HAMILTON, NIAGARA, OAKVILLE, WELLAND & MORE

trending

FRED AND LINO LOsANI INDUCTED INTO THE HAMILTONHALTON HOME BUILDERs’ AssOCIATION HALL OF FAME

TOWNS & SINGLES in CALEDONIA See page 2 for more information

LosaniHomes.com

50 New Home + Condo Guide | Mar. 16–30, 2019

Fred (at left) and Lino Losani (at right) celebrate their HHHBA Hall of Fame induction with their parents Giovanni and Maria Losani.

Photo: HHBA

Losani Homes’ CEO Fred Losani and President Lino Losani have been inducted to the HamiltonHalton Home Builders Association (HHHBA) Hall of Fame, joining their father Giovanni Losani, who was inducted in 2006. These awards recognize association members who have made outstanding and lasting contributions to the organization and to the home building industry.

Lino immigrated to Canada in 1960 with his parents, Giovanni and Maria and six-month-old sister Elena. The family settled in the north end of Hamilton, where Fred and Julie were born. In 1972, Lino joined his father in residential construction and in 1976, Losani Homes was established.

Lino’s sons, John-Anthony and Justin are actively involved in the business. John-Anthony holds an executive seat on the HHHBA Board of Directors while Justin,

works in the field. Lino’s youngest sister Julie is responsible for new home closings. Fred became a company partner in 1985.

In the 1980s, Giovanni and Lino focused on residential home building, Elena was in charge of administration and Fred focused on land development and founded F. Losani Developments, a subsidiary of Losani Homes.

With Giovanni’s retirement in 1998, Lino and Fred established Losani Homes Inc. – the homebuilding company that solidifies more than 40 years of home building excellence, quality and craftsmanship.

Together, the company has received more than 120 Sales, Marketing and Design awards, five Community of the Year awards, five Humanitarian awards and three Environmental awards, locally, nationally and internationally.

A SOPHISTICATED LIFEST YLE

in fonthill

A JEWEL IN FONTHILL. The first in the One Fonthill Condominium Collection, One Twenty is a stunning showcase of Mountainview’s incredible design choices and trusted building standards.

1

Enjoy four storeys of luxury suites in one of Niagara’s most sought-after neighbourhoods.

FROM THE LOW $400s!

1 & 2 BEDROOM TORONTO

06

D

PORT ROBINSON RD

NIAGARA FALLS HWY 4

ST

RICE R

STATION

20 HWY

SALES OFFICE

|

1 BEDROOM WITH DEN

O N E

FONTHILL C O N D O M I N I U M S

|

FONTHILL LOVE WHERE YOU LIVE!

2 BEDROOMS WITH DEN VISIT OUR SALES OFFICE: 130 Highway 20, Unit C-1, Fonthill (in the Food Basics Plaza)

Monday, Wednesday, Thursday 1–6 p.m.

Saturday, Sunday 1–6 p.m.

Tuesday, Friday by appointment only Rendering is an artist concept. E.&O.E. Subject to availability.

onetwentycondos.ca | 289.897.8548

PROPERTY PROFILE

THE RESIDENCES at SEaFIRE IN thE CAYMAN ISLANDS It’s no secret that Torontonians like to get away from the cold.

A soft, sandy beach. A drink in hand. The rejuvenating sun warming our body and our spirit.

Escaping the winter is as Canadian as hockey. But the goal of a getaway isn’t simply to…get away.

The right holiday destination has to appeal to our tastes and accommodate the most particular of needs; and for the exclusive group of Torontonians who can afford a home-away-from-home, that is no easy feat. Those who expect a true luxury property are rarely met with the same. And those who covet convenience and 52 New Home + Condo Guide | Mar. 16–30, 2019

the highest class of service are all too often disappointed.

Dart Real Estate, a Cayman Island real estate development company, has changed all that with The Residences at Seafire, a luxury condominium property on globally acclaimed Seven Mile Beach in the Cayman Islands that redefines luxury living in a vacation home.

The developers have also identified the Toronto real estate market as strong and sophisticated, and are specifically targeting those who want a vacation home for their own use or for investment.

The Residences at Seafire is

offering a limited time incentive package for Canadians who purchase a condominium at The Residences by June 30, 2019 – up to USD $50,000 in resort credit at the AAA Five Diamond-rated Kimpton Seafire Resort + Spa next door.

With direct flights of less than four hours from Toronto, the Cayman Islands is a safe, stable and stunning choice for a second home with no restrictions on foreign ownership of land. The low crime rate and modern health services attracts the astute traveller and distinguishes the Cayman Islands from neighbouring

destinations.

Whether it’s the retiree in search of better weather, the young professional seeking out a vacation property for family and friends, or the savvy purchaser looking for a perfectly located investment property, this twotower, 10-storey, 62-residence condo development delivers the privileged quality of life to which its residents are accustomed.

Many builders are quick to tout the location of their property, but when that property is situated next to an award-winning resort and overlooking the finest section of the island’s most phenomenal beach, you have cause to brag a little. The Residences at Seafire each offer a view of the sea, with its turquoise waters lapping up onto Cayman’s Seven Mile Beach.

It’s a view that soothes and inspires and it’s a view that speaks clearly of one’s successes in life.

The Residences at Seafire are close enough to the town centre

in Camana Bay that if you want to venture out, eclectic restaurants, bars and nightlife are all well within reach. Add The Nest, the private rooftop terrace, and the amenities and fine dining available right next door at the Kimpton Seafire Resort and Spa, the sophisticated lifestyle abounds.

With such an idyllic setting right outside their doorstep, purchasers at The Residences at Seafire are certain to appreciate and embrace the beauty around them. But the impeccable design within the residences is equally impressive, achieving a vision of elegance and function.

From studio units to one through five-bedroom penthouses, the Residences at Seafire range in size from 601 to just under 4,000 sq. ft. And each residence boasts unparalleled views, with an abundance of light and airiness inside.

The tasteful interior décor is sourced from over 20 countries, with warm wood and earth tones in the South Tower and cool, clean, white and gray tones in the North Tower. The gourmet kitchens are rich and modern, featuring soft-close Guerin Glass custom-designed cabinets, Statuarietto white marble, and Miele and Sub-Zero appliances.

All told, the Residences at

Seafire are impeccably designed, and exceptionally well located.

And at a selling price ranging from $1.4 million to $7 million USD, they offer a measure of luxury that the discriminating buyer can afford.

When owners are not in residence, they have the option of putting their property in the optional resort-managed shortterm rental program. For added convenience, turnkey Restoration Hardware packages can also be purchased.

To find out more about these remarkable residences, visit seafireresidencescayman.com

+

LOcaTIOn Caymen Islands DEvELOPER Dart Real Estate DEvELOPmEnT The Residences at Seafire HOmE TYPE Condominiums cOnTacT seafireresidencescayman.com 1.888.890.6615

nexthome.ca 53

MARCH IN MARCH IN MARCH IN

AND WIN! AND WIN! AND WIN! LIMITED TIME OFFER* LIMITED TIME OFFER* LIMITED LIMITED LIMITED LIMITED TIME TIME TIME TIME OFFER* OFFER* OFFER* OFFER* LIMITED TIME OFFER* LIMITED TIME OFFER* LIMITED TIME OFFER*

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ONE BEDROOM CONDOS FROM THE LOW $300’s ONE BEDROOM CONDOS FROM THE LOW $300’s ONE ONE ONE ONE BEDROOM BEDROOM BEDROOM BEDROOM CONDOS CONDOS CONDOS CONDOS FROM FROM FROM FROM THE THE THE THE LOW LOW LOW LOW $300’s $300’s $300’s $300’s ONE BEDROOM CONDOS FROM THE LOW $300’s BEDROOM CONDOS THE LOW $300’s ONE ONE BEDROOM CONDOS FROMFROM THE LOW $300’s TWO BEDROOM CONDOS FROM THE $400’s TWO BEDROOM CONDOS FROM THE $400’s TWO TWO TWO TWO BEDROOM BEDROOM BEDROOM BEDROOM CONDOS CONDOS CONDOS CONDOS FROM FROM FROM FROM THE THE THE THE $400’s $400’s $400’s $400’s TWO BEDROOM CONDOS FROM THE $400’s TWO BEDROOM CONDOS FROM THE $400’s TWO BEDROOM CONDOS FROM THETHE $400’s PENTHOUSE COLLECTION FROM THE $500’s PENTHOUSE COLLECTION FROM $500’s PENTHOUSE PENTHOUSE PENTHOUSE PENTHOUSE COLLECTION COLLECTION COLLECTION COLLECTION FROM FROM FROM FROM THE THE THE THE $500’s $500’s $500’s $500’s PENTHOUSE COLLECTION FROM THE $500’s PENTHOUSE COLLECTION THE $500’s PENTHOUSE COLLECTION FROMFROM THE $500’s NOW OPEN NOW OPEN NOW NOW NOW NOW OPEN OPEN OPEN OPEN Presentation Centre: NOWOPEN OPEN Presentation Centre: NOW NOW OPEN Presentation Presentation Presentation Presentation Centre: Centre: Centre: 121 Hwy. 8. Centre: Presentation Centre: 121 Hwy. 8.

Presentation Centre: Presentation Centre: 121 121 121 Hwy. 121 Hwy. Hwy. Hwy. 8.

8.

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Stoney Creek, 121Hwy. Hwy. Stoney Creek, 121 8.8.

121 Hwy. 8. Creek, Stoney Stoney Stoney Stoney Creek, Creek, Creek, On L8E 5B7 Stoney Creek, On L8E 5B7 Stoney Creek, Stoney Creek, On On On L8E On L8E L8E 5B7 L8E 5B7 5B7 5B7 289-309-2272 OnL8E L8E5B7 5B7 289-309-2272 On On L8E 5B7 289-309-2272 289-309-2272 289-309-2272 289-309-2272 289-309-2272 289-309-2272 289-309-2272 Hours: Hours: Hours: Hours: Hours: Hours:- Thursday Monday Hours: Monday - Thursday Hours: Hours: Monday Monday Monday Monday - Thursday - Thursday --Thursday Thursday 1pm-7pm Monday Thursday 1pm-7pm Monday --Thursday Monday - Thursday 1pm-7pm 1pm-7pm 1pm-7pm 1pm-7pm Saturday & Sunday 1pm-7pm Saturday & Sunday 1pm-7pm 1pm-7pm Saturday Saturday Saturday Saturday && Sunday & Sunday &Sunday Sunday 12pm-5pm, Friday SaturdayClosed Sunday 12pm-5pm, Friday Saturday &&Closed Sunday Saturday & Sunday 12pm-5pm, 12pm-5pm, 12pm-5pm, 12pm-5pm, Closed Closed Closed Closed Friday Friday Friday Friday casasales@branthaven.com 12pm-5pm, Closed Friday casasales@branthaven.com 12pm-5pm, 12pm-5pm, ClosedClosed Friday Friday casasales@branthaven.com casasales@branthaven.com casasales@branthaven.com casasales@branthaven.com casasales@branthaven.com casasales@branthaven.com casasales@branthaven.com

CasaDiTorreCondos.com CasaDiTorreCondos.com CasaDiTorreCondos.com CasaDiTorreCondos.com CasaDiTorreCondos.com CasaDiTorreCondos.com CasaDiTorreCondos.com CasaDiTorreCondos.com CasaDiTorreCondos.com

renderings artist’s concept.

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ADVICE | LEgALLy ADVICE SpEAkIng

can nEw-HOME DEFICIENCIES PERMIT YOU TO NOT CLOSE THE DEAL?

JaYsOn schwaRz

As the purchaser of a brand-new home, you have the opportunity, in most cases, to choose the elevation, the lot and the various specifications and finishes. As part of the purchasing process, you expect that what you have selected, you will receive on closing.

Now imagine that your new home has just been built and you have just completed your 56 New Home + Condo Guide | Mar. 16–30, 2019

pre-delivery inspection with the builder’s agent and you have noticed that the builder has — without any advance notice to you — made numerous changes to the finishings, colours and/or the layout of the home. This is clearly not what you bargained for, right?

What do you do? Better yet, what can you do?

The first reaction is to threaten to not close. Bad decision. Be advised that most builders’ agreements contain a clause that limits or restricts the remedies available to the purchaser in the event of a breach of the agreement by the builder. Many

such clauses also permit the builder to substitute materials, and to make various changes to the plans and specifications relating to the subject property.

From the point of view of builders, such clauses are necessary to offer them some degree of flexibility to deal with unforeseen circumstances that often arise in the course of construction or with regards to the requirements of the municipality.

Without getting into a long commentary on the law of contract rescission, which is extensive to say the least, the …continued on page 60

HOT PROPERTIES

Find your next home The latest properties in southwestern ontario to keep your eye on

5. the Peninsula

e. elements

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

By: Mountainview Homes City: St. Catharines Housing type: Luxury oneand two-bedroom condos elementscondo.com

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

7. the oaKes By: Treasure Hill City: Oakville Housing type: 41 and 45 ft. detached family homes TreasureHill.com

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

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

8. valera 2

sWo prevIew registration

By: Adi Developments City: Burlington Housing type: Condominiums adidevelopments.com

1. casa di torre

neW oPenings

By: Branthaven Homes City: Stoney Creek Housing type: Condos from 550 to 978 sq. ft. from the low $300’s 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

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

i. saFFron estates 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

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

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 57

HOT PROPERTIES | SOUTHWESTERN ONTARIO AREA

kITcHENER–WATERlOO

Guelph

Waterloo Kitchener

Milton

Cambridge

J

Brantford

Hamilton

5

4

lONdON

3

London

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

58 New Home + Condo Guide | Mar. 16–30, 2019

Mississauga

MAP LE GE N D 7

NEW HomEs

F 8

6

NEW CoNDos

Oakville

Burlington

1 G B

E D

St Catharines H

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nexthome.ca  59

…continued from page 54

courts have generally held that where a builder has breached a fundamental term of the contract, he cannot hide behind his exclusionary clauses. While what constitutes a “fundamental term” is often figured out by a judge, suffice it to say that the test is very tough and purchasers seeking to get out of their builder’s agreements on breach of contract grounds (called “Rescission”) often end up with the short end of the stick.

With that said, here are a few of the factors to examine in determining when rescission will likely be granted by the courts: • (a) Motivation: Courts are generally unlikely to grant Purchasers Rescission for a construction deficiency or modification in circumstances where they believe that the true factor motivating the purchaser is something else (like lack of money, change of mind, etc.).

• (b) Builder’s Prior Knowledge: Courts are more likely to grant 60 New Home + Condo Guide | Mar. 16–30, 2019

Purchasers Rescission where they can demonstrate that the possibility that the unwanted modification would be necessary was known to the builder at the time the agreement was signed and was not adequately brought to the purchaser’s attention at that time.

• (c) Rectifiable Deficiencies: Courts are less likely to grant a rescission as a result of incomplete construction, or as a result of deficiencies that can be remedied without seriously inconveniencing the purchaser.

This is especially the case where the builder has obtained an occupancy permit from the local municipality.

If you do not close, and a court determines that rescission is not available, not only will you lose your deposit, you will also be found responsible for all of the builder’s consequential damages and legal costs. This is an especially significant issue where the value of the home is declining.

All in all, prospective purchasers of new homes should be aware of the fact that rescission is generally not granted.

Remember that when the builder does not do what he or she promises, Tarion can be your best friend. Go to tarion.com to see the protections under the Ontario New Home Warranties Plan Act. This is the best protection for new-home buyers in Ontario.

Mail, deliver or fax letters to the magazine or to us, use the web site (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.

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