NextHome GTA Nov. 24, 2018

Greater Toronto Area Nov. 24–Dec. 8, 2018

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

INT RODUCING ENCORE AT T H EAT RE DIST RICT .

INSIDE:

MID-RISE CONDOS VERSUS HIGH-RISES

WHEN IS THE BEST TIME TO BUY?

18-0878_SATURDAY_NEXTHOME-CONDOGUIDE_NOV24_V1.pdf

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2018-11-15

11:23 AM

What are you doing this Saturday?

BECAUSE FUN IS A SWEET THING. What are

you doing this Saturday?

This is the place you’ve been dreaming of. From cycling on the boardwalk to building sand castles, Sugar Wharf sits where the lake meets the city. Connected to the PATH, it’s close to all the fun things and places the city offers. With daycare, transit, school, parks, and culture all rolled into one magical community, for starters, you should Saturday Sales Centre.

Sugar WharfWell, combines everything you visit lovethe into the sweetest life Secondly, start dreaming of how great life you can imagine.

Theyou lake.

Theinto life.these Theboutique city. will be once move condos nestled inside Downsview Park. With a wealth of amenities, a stunning two-storey lobby, stylish party room, expansive outdoor terraces, well-equipped fitness zone and a dedicated space for the little ones, easy access to transit, and all the great things Downsview Park offers, every day will feel like Saturday here.

PATH-CONNECTED

WATERFRONT RESIDENCES

SATURDAY DOWNSVIEW PARK IS NOW OPEN. Sales office openingIN soon.

Registeryou menkes.com/sugarwharf Well, for starters, should visit the Saturday Sales Centre. Secondly, start dreaming of how great life NEW PENTHOUSE RELEASE INCLUDING PARKING & LOCKER FROM $499,990. will be once you move into these boutique condos nestled inside Downsview Park. With a wealth of amenities, a stunning two-storey lobby, stylish party room, expansive outdoor terraces, well-equipped fitness zone and a dedicated space for the little ones, easy access to transit, and all the great things Downsview Park offers, every day will feel like Saturday here.

SATURDAY IN DOWNSVIEW PARK IS NOW OPEN. NEW PENTHOUSE $499,990.

THE EGLINTON HARBOUR PLAZA RELEASE INCLUDING PARKING & LOCKER FROM HARBOUR & YORK

87 PETER PETER & KING

YONGE & EGLINTON SHEPPARD KEELE

DOWNSVIEW Under Construction Immediate Move-In Available PARK VISIT US TODAY. SALES CENTRE 2995 KEELE STREET 416.630.8282 MATTAMYHOMES.COM Move In Next Year Move in Next Year Now Previewing Penthouses MONDAY TO THURSDAY NOON 6PM / FRIDAY CLOSED / SATURDAY, SUNDAY AND HOLIDAYS NOON 5PM From the low $800’s From the high $400’s From $2.3 million Illustrations are artist’s impressions. Prices, specifications and promotions are subject to change without notice. E. & O.E. 2018.

@ MattamyHighrise

LEARN MORE AT THE MENKES CONDO STORE AT 110 HARBOUR STREET, UNIT 106 TORONTO 416.591.7700 See sales representative for details. Prices and specifications are subject to change. E.&O.E. 2018. Illustrations are artist’s concept only. Exclusive Broker Cornerstone Marketing.

SHEPPARD

KEEL

DOWNSVIEW

FLEUR CHURCH & SHUTER

IN.DE DUNDAS E + JARVIS

Under Construction 3 bedrooms From the low $900’s

Now Previewing Register @menkes.com

GLEN ASHTON ESTATES OAKVILLE Coming Soon Register @menkes.com Detached Homes in the Joshua Creek Neighbourhood

Get back to back to the Simple Things ple Things Small town living is Simply Grand

ng is Simply Call theGrand prettiest little town in Canada Home. It’s time to raise your expectations

more home and space for your money. Isn’t that Simply Grand? da Home. It’s timewith to raise your expectations r your money. Isn’t that Simply Grand?

SEMIS & SINGLES FROM THE MID $400’s FROM THE MID $400’s SINGLES ON DEEP WOODLOTS FROM THE LOW $600’s DLOTS FROM THE LOW $600’s

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

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

A S TA N D I N G O VAT I O N L IV E AMI D THE EXCI TEM EN T O F T HE T HEAT R E D I S T R IC T

N O I TAV O G N I D N AT S A

An epicentre of arts, culture, dining, business, sports, and nightlife, the Theatre District is a major hub for development in North America. Located at Adelaide and Widmer, Encore at Theatre District is a 48-storey building comprised of private residences and hotel suites.

T C I R T S I D E R TA E H T E H T F O T N E M E T I C X E E H T D I M A E V I L

Home to some of the best restaurants and nightlife anywhere in Toronto, and with frequent s i t c i r t s and i D e ryear-round, t a e h T e h t , ethe f i l t h g i n d n a , s t r o p s , s s e n i s u b , g n i n i d , er u t l u c , s t r a f o er t n e c i p e n A celebrity sightings during the internationally renowned film festival t a e r o c n E ,r e m d i W d n a e d i a l e d A t a d e t a c o L . a c i r e m A h t r o N n i t n e m p o l e v e d r o f b u h r o j a m a Theatre District is a hip, highly sought after affluent neighbourhood. . s e t i u s l e t o h d n a s e c n e d i s er e t a v i r p f o d e s i r p m o c g n i d l i u b y er o t s - 8 4 a s i t c i r t s i D er t a e h T t n e u q e r f h t i w d n a , o t n o r oT n i e r e h w y n a e f i l t h g i n d n a s t n a r u a t s e r t s e b e h t f o e m o s o t e m o H e h t , d n u o r -r a e y d n a l a v i t s e f m l i f d e n w o n e r y l l a n o i t a n r e t n i e h t g n i r u d s g n i t h g i s y t i r b e l e c . d o o h r u o b h g i e n t n e u l ff a r e t f a t h g u o s y l h g i h , p i h a s i t c i r t s i D er t a e h T

1 , 2 & 3 B ED R O O M S U I TE S S TARTI N G F R OM $600, 000 Visit the Presentation Centre located 28 Widmer Street, Toronto T: 416.862.0888 x6412 pureplaza.com Brokers protected. Prices, sizes and specifications subject to change without notice. E.&O.E.

0 0 0 , 0 0 6 $ M O R F G N I T R AT S S E T I U S M O O R D E B 3 & 2 , 1 otnoroT ,teertS remdiW 82 detacol ertneC noitatneserP eht tisiV

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

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

Susan Legge Susan.Legge@nexthome.ca art director

Tammy Leung contributing editors

Sara Duck Amanda Pereira media consultants

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.

Daniela Francia Daniela.Francia@nexthome.ca Nina Downs Nina.Downs@nexthome.ca distribution

DistributionTeam@nexthome.ca sales & marketing co-ordinators

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.

Gary Chilvers Sarah Khan accounting inquiries

AccountingTeam@nexthome.ca graphic designers

Miguel Cea Sandra Hanak-Vujnovic Mike Terentiev ad production

Pre-Press@nexthome.ca

KEEHN ON MONEy | KELLEy KEEHN a financial literacy advocate, kelley keehn is on a mission to “make canadians feels good about money.” she is the author of eight published books and is also a speaker, media personality and consumer advocate for the financial planning standards council. kelleykeehn.com.

STyLE FILE | JO ALCORN Jo alcorn is a design specialist and designer on hgtv’s home to Win. she has her own furniture collection, signature pillow and dog bed line and is known for her savvy design concepts. visit Jo at whitewashco.ca

Published by

nexthome.ca Advertising call 1.866.532.2588 for advertising rates and information.

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Call 1.855.826.4200 to discuss distribution opportunities.

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

4 NextHome+CondoGuide | Nov. 24–Dec. 8, 2018

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legally speaking

WHAT THE HECK IS TITLE INSURANCE? JAySon SCHWArz

Title insurance is supposed to provide comprehensive insurance coverage for the certain of the titlerelated risks associated with home buying. Risks such as zoning issues, claims of mental incapacity, lack of an up-to-date survey and the legal services provided by your lawyer (ie. title certification). It insures against such defects in title, which may occur from conflicting ownership claims, liens, undischarged mortgages, consents and the like.

It will cover compliance and access issues ie. work orders, permit violations, fences, boundaries, tenancies, rights of way, certain easements etc. It is supposed to be in force so long as the purchaser or his/her heirs own the property.

Title insurance will outlive the certification of your lawyer, whose insurance stops if he or she dies or stops practice.

OK, what if something is wrong and a new purchaser will not accept a new title insurance policy to insure over the mistake, at no cost? The insurer will pay out in accordance with the policy, or will if possible, repair the defect. Title insurance protects from vendors that won’t re-adjust. In addition lawyers’ insurance is time-ofincidence related which means in simple English that if your lawyer is dead, retired or stops practice and you make a claim after that, the lawyer’s insurance does NOT protect you.

6 NextHome+CondoGuide | Nov. 24–Dec. 8, 2018

Just so everyone understands, almost all of Ontario is now on an electronic registry system. Title insurance has become the norm and virtually all transactions are completed computer to computer.

Make sure the lawyer you select has taken the title insurance courses, has gone to the seminars on Terranet, the electronic registry system and can properly advise you. The Law Society passed a rule that every lawyer on a residential real estate deal must advise the client of title insurance, the different companies and how it works. Remember a lawyer survives by repeat business and referrals and a lawyer’s mandate from the Law Society is that the client’s best interests must come first.

We have all read and heard about mortgage and title fraud where bad guys put fake mortgages on property or sell houses they do not own. Title insurance indemnifies you against these occurrences.

To summarize, title insurance

does three things better than lawyers’ insurance: 1. Gives better coverage as to the quality of your ownership than a lawyer’s insurance; 2. Lasts forever when lawyers don’t; 3. Protects from mortgage and title fraud; In conclusion, every lawyer has an obligation to make you aware of the different companies’ title insurance options, so choose wisely.

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

Mail, deliver or fax 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. I will try to deal with them in print or electronic form.

+morE AdVICE onlInE nexthome.ca/news/advice

FLDGVALL_41-4B

FLDGVALL_41-4B

Nov 24 - dec 8, 2018 | volume 26 issue 22

CONTENTS

16 ON THE COVER:

Plaza ENCORE aT ThEaTRE diSTRiCT CONdOmiNiumS — Triple-A location with first-class amenities wrapped in modern architecture 8 NextHome+CondoGuide | Nov. 24–Dec. 8, 2018

jO alCORN designs hER dREam kitchen

26 42 Trend watch

PROPERTy PROfilES

adViCE

20 Greenpark Group

06 legally speaking

Charisma brings pedestrian friendly community living to Vaughan

22 adi developments Back by popular demand, Valera 2 has launched in Uptown Burlington

34 mattamy homes Discover Queen’s Common Whitby, a new community of rear lane and two-storey townhomes

40 alterra and Graywood New release of Heritage Lofts at Wonder Condos in Leslieville

TRENdiNg

19 union market in district Great Gulf breaks ground in Washington D.C.

36 wallacetown Preview sales continue at Heathwood Homes’ newest community in south Kitchener

How Baby Boomers are helping Millennials jump in to the real estate game

What the heck is title insurance?

By michelle hoPkiNs

jaysoN schwarz

iNSPiRaTiON

12 Bild report Are you aware of the City of Toronto’s new development charges?

26 inspiration Kitchen bliss — Jo Alcorn designs her own dream kitchen

By dave wilkes

14 stat chat A high-rise or a mid-rise?

Which building style works best for you?

By BeN myers

28 keehn on money Get behind the hidden costs of homeownership By kelley keehN

iN EVERy iSSuE

4

contributors

10 editor’s Note 37 hot Properties GTa 43 hot Properties swo 46 advertiser index

30 condo Pro The best time to buy a condo is...now!

48 what’s online

By BarBara lawlor

14

high-RiSE OR mid-RiSE? What’s the diff? nexthome.ca 9

Editor’s notE

thoughts on the market?

We’d love to hear froM you, so drop us a line

susan legge Editor-in-chiEf nextHome+CondoGuide Email: susan.legge@nexthome.ca twittEr: @susanLegge

I don’t mind telling you that I am addicted to real estate.

It’s one of the reasons I came back to the magazine when I had an opportunity to rejoin the team.

I don’t think I’ll ever stop being in awe of the giant construction cranes going up and the amount of coordination and machinery involved when creating a new community, and I love looking at a particularly daring new floorplan or community concept and thinking, “I’d live there!”.

These days, I’m accessing every new community’s R.O.I. potential more closely than ever before. Should it be a longterm or short-term investment? Is it located in an area that’s in transition? What’s the transit and commute like? And will it benefit from new infrastructure and transit plans in the future?

This issue features several very progressive and interesting low-rise and high-rise communities alike – stretching from east to west, and right smack in the heart of the city. We’ve got all the bases covered in terms of locations and housing options.

Also in this issue, a great story from our national B.C.-based columnist, Michelle Hopkins, who’s covered a topic many of you may, or may not, have heard of – the “transfer of wealth”.

That’s on page 42. Also be sure to check out Jo Alcorn’s very own new kitchen update on page 26 and Ben Myers’ always insightful column on page 14.

Have your own opinion or thoughts on the housing market?

Want to talk about affordability or tell us what you want or don’t want in your new home or condominium community?

Drop us a line. We’d love to hear from you.

Enjoy this issue!

Millennials and Boomers, and the “transfer of wealth” movement 42 What the heck is “title insurance”?

06

+ get social

interact with us on social media: nexthome

10 NextHome+CondoGuide | Nov. 24–Dec. 8, 2018

NOWSELLING! SOPH I ST I C AT ED C O N D O L I V I N G IN THE EXCLUSIVE O N E F O N T H I L L C O M M U N I T Y .

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one twenty condos.ca | 2 8 9 . 8 9 7 . 8 5 4 8 Rendering is an artist concept. E.&O.E. Subject to availability.

ADVICE | bIlD rEport

On November 1 the cost of a new single family hOme in TOrOnTO weNt up by $20,000

Dave wilkes

I’m sure that as you flip through the pages of the NextHome + CondoGuide, you probably had no idea that on November 1, the City of Toronto increased development charges by $20,000 on a new single family home.

Development charges in the City of Toronto increased from $41,251 from May 1, 2018 to $60,739 on November 1, 2018 for a single family home. That number will increase to $71,432 on November 1, 2019 and then to $80,227 on November 1, 2020, adding $38,976 to the cost of a new home in just three years.

So, what are development charges? They are a tax imposed by local municipalities on new homebuyers, as well as GO Transit and education boards. They contribute to the capital costs of municipal services such as roads, water services, sewers, parks and recreation and emergency services. The building and land development industry supports the need for new home buyers to pay their fair share of these costs.

New home buyers pay their fair share for infrastructure and services, but municipalities like the City of Toronto are loading excessive costs on to new development. The bottom line is that these costs price new home buyers out of the market.

Development charges have increased exponentially and it 12 NextHome+CondoGuide | Nov. 24–Dec. 8, 2018

has shifted the burden of paying for critical infrastructure onto the newest residents and businesses moving into a neighbourhood.

This past May, BILD commissioned a study by the Altus Group that calculated all government fees and charges on a new single family home in six municipalities across the GTA, including the City of Toronto.

The study found that on average, all government fees, taxes and charges amounted for 22 per cent of the cost of a new home.

The biggest contributor was development charges accounted for 30 per cent of all charges.

Since 2004, development charges have increased between 236 and 878 per cent across the GTA. Once the City of Toronto finishes the phase-in of its latest round of increases in 2020, the increase over 2004 levels will be a whopping 1,700 per cent. To provide a comparison over that same time frame, the Consumer Price Index (CPI – Inflation) rose by

22 per cent and the average new house price in Toronto increased by 143 per cent. Development Charges are increasing 10 to 40 times faster than inflation over the same period. Existing City of Toronto home owners faced a property tax increase of 30 per cent per household during that same period.

When we talk about affordability of new housing, we must ensure that development charges do not become a barrier to new home ownership.

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

COMING SOON TO DOWNTOWN BURLINGTON

ART IS AN EXPRESSION OF HOW YOU LIVE Gallery-inspired condos + lofts in downtown Burlington from the $400s to over $1 million Artful living is yours in gallery-styled condominiums in Burlington’s cultural heart, featuring the best of classic and contemporary architecture, sublime finishes and exhibition-worthy suites in a vibrant walkable location, central to life at its finest.

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* Prices & specifications subject to change without notice. E.&O.E.

Real Estate Brokerage

ADVICE | stAt ChAt

Should you Buy a New CoNdo in a HigH-Rise or Mid-Rise Building?

Ben myerS

So, you’re in the market for a new condominium and you’ve gone online to check out a bunch of projects. You might not have an exact intersection in mind, but you probably have a general idea of what area of the GTA you’d like to buy in. It is amazing that within a five-minute transit ride you can go from a 60-storey new condo to a six-storey new condo.

If you’re only buying for future price appreciation, then a high-rise tower will probably provide the best opportunity to experience price gains because they’re typically located on the most coveted real estate, either right downtown in the core, or along the subway lines. In this case, you’re not really comparing apples-to-apples.

What about a mid-rise project in a prime location, you ask?

Well, those are likely to be very expensive. In certain areas of the GTA, planning is very restrictive, only allowing smaller buildings.

For developers to generate an acceptable profit with fewer units, they must charge a lot more for the few units they do have. These luxury boutique projects have always experienced very good price growth, but luxury units are harder to sell when the market softens, the views are not typically as good, and the buildings often have no common amenities.

14 NextHome+CondoGuide | Nov. 24–Dec. 8, 2018

As an investment, the supply of mid-rise projects isn’t going to increase rapidly either due to the economics of the projects.

In an email sent to me recently, a developer said “The challenges to assemble a mid-rise site at the right price to make a project viable, the effort and time to do that assembly, the limited amenities you can fit into a midrise project, the lack of premiums for views from most suites, the similar cost to a high-rise project for shoring, dewatering, building a bath-tubbed parking garage, all make mid-rise a difficult built-form to develop.”

On the other hand, when you drive down the Gardiner Expressway, you might not think the supply of high-rise buildings is constrained in any way, but they will be in the future, as the number of sites available to build on continues to dwindle, construction costs increase, municipal fees skyrocket, and interest rates rise.

We may never see another year in the GTA with 35,000 new condo sales again, like we did in 2017.

High-rise towers have the

advantage of having tremendous views, they typically have more common amenities, there’s often greater opportunity for social interaction, and the locations are great for tenants should you choose to lease out your suite.

There is certainly a lot to consider when looking at the pluses and minuses of mid-rise versus high-rise. My advice to all future buyers is to hire a realtor with pre-construction condo experience and get their two cents, and most importantly, 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

WHEN WHEN YOU YOU BUILD, BUILD, WHEN YOU BUILD, WHEN YOU BUILD, WHEN YOU BUILD, WHEN YOU BUILD, YOU YOU BUILD BUILD TRUST. TRUST. YOU BUILD TRUST. WHEN WHEN YOU YOU BUILD, BUILD, YOU BUILD TRUST. YOU BUILD TRUST. YOU BUILD TRUST. YOU YOU BUILD BUILD TRUST. TRUST.

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COVER STORY

THEATRE DISTRICT PHASE 2 Enjoy An URBAn LIFESTyLE And An InTERnATIonAl HoTEl In A PrImE DownTown loCATIon

16 NextHome+CondoGuide | Nov. 24–Dec. 8, 2018

The architecture of the Theatre District Condominiums, designed by Quadrangle Architects, respects the King West neighbourhood’s heritage flavour while incorporating modern elements.

Tarion’s 2018 High-Rise Builder of the Year, Plaza, has launched the sequel to the first phase of its Theatre District Condominiums.

Like the first phase, Phase 2 promises to be another blockbuster in the heart of the Entertainment District.

Locations simply don’t come any better than this for urbanites who appreciate culture, entertainment, fine dining and a sophisticated lifestyle.

The first phase of Theatre District Condos at 8 Widmer Street, consisting of a residential 49-storey tower and six historic townhouses, sold quickly.

The first 24 floors of Phase 2, at 28 Widmer at the corner of Adelaide, will be an international hotel with a 23-storey residential condo above. While Widmer is a quiet, residential street, it’s steps from the vibrancy of the Entertainment District and the action of the annual Toronto International Film Festival.

“The Entertainment District is becoming an increasingly popular place to live,” says Scott McLellan, Plaza senior vice president.

“People want to be part of the energy of the area, close to great restaurants, theatres, TIFF and Billy Bishop Airport.”

The architecture of the Theatre District Condominiums, designed by Quadrangle Architects, respects the King West neighbourhood’s heritage flavour while incorporating modern elements. The hotel and condominiums of 28 Widmer are seamlessly interwoven into the tower design, and the upper level nexthome.ca 17

residential suites enjoy expansive downtown views. The two towers (Phase 1 at 8 Widmer and Phase 2 at 28 Widmer) have individual lobbies connected internally and they share amenity spaces at the ground floor and the third floor of the podium at 8 Widmer.

Responding to feedback from Phase 1 buyers, McLellan says Phase 2 will include one-bedroom or one-bedroom-with-den suites from $599,000, and twobedroom units, with balconies up to 125 square feet, from the low $900,000s. Some three-bedroom suites will have views of the CN Tower.

Residents benefit from the Triple A location and first-class amenities, including outdoor pool, fully equipped gym and party room. They’ll also be in an amenity-rich neighbourhood that includes some of the city’s best retail stores and restaurants.

This exciting development is now open. Visit the Plaza presentation centre at 28 Widmer St., in Toronto, call 416-862-0888 or visit the website www.pureplaza.com

+

LOCaTiOn Downtown Toronto DEVELOpER Plaza DEVELOpmEnT Theatre District Phase 2 HOmE TYpE Condominium

SaLES CEnTRE 28 Widmer St. COnTaCT 416-862-0888 www.pureplaza.comm

18 NextHome+CondoGuide | Nov. 24–Dec. 8, 2018

trending

Great Gulf first Canadian developer to break ground in Washington d.C.’s union Market distriCt

Great Gulf, an international award-winning developer, brings its Canadian know-how to the nation’s U.S. capital as the first Canadian company to break ground in D.C.’s vibrant Union Market District. Attended by local government officials, Canadian Embassy representatives and special guests, the event marked a significant milestone in Great Gulf’s expansion into the U.S. market.

“We chose Union Market in the heart of Washington, D.C. because it’s an opportunity to establish Great Gulf as a development company of choice in a significant American city and participate in the transformation of a diverse and thriving community,” said Niall Collins, President Residential Great Gulf. “We are deeply committed to community

building and delighted we will be contributing to the integrity of the neighbourhood while supporting local employment.”

“Union Market District is about establishing and honouring authentic relationships with our neighbours. Partnering with Great Gulf – our Canadian neighbour to the north – felt like the perfect partnership, as they are one of North America’s premiere developers and share our values of building community,” said EDENS CEO Jodie McLean.

This Union Market District project with co-developer EDENS, a nationally leading retail real estate owner, operator and developer, is a 10-storey mixeduse, multi-family development at 1300 4th Street NE, adjacent to the two-time Michelin star restaurant Masseria. Totalling 153,000 square

feet overall, this building will feature approximately 12,000 square feet of retail at ground level; 134 residential units with approximately 120 parking spaces; and more than 60 bike stalls for easy commuter and tourist transportation.

“This exciting project is another example of a leading Canadian company making a long-term commitment to the dynamic and growing D.C. Metro area,” said Jason LaTorre, Minister-Counsellor and Senior Trade Commissioner, Embassy of Canada.

Designed by award-winning architects Shalom Baranes Associates with interiors by Mason Studio Interior Design and Mahan Rykiel Associates Landscape Architect, this project is located a short walk from the NoMaGallaudet U Metro Station.

PROPERTY PROFILE

Charisma a pedestrian-friendly new development designed with the Community in mind The City of Vaughan is a community on the rise and the Greenpark Group is a major part of this incredible growth.

The vision for Vaughan, according to Lino Pellicano Greenpark’s Vice President of High Rise, is nothing short of revolutionary. The incredible influx of development in the surrounding area is unprecedented and much of it begins with the expansion of the Toronto subway line. “Once all channels of transit are available such as they are in Vaughan right now, people follow, businesses follow and the urban lifestyle takes shape” says Pellicano.

Greenpark, as it has often done for the past 50 years, is 20 NextHome+CondoGuide | Nov. 24–Dec. 8, 2018

leading the charge in Vaughan’s transformation with the release of its master-planned development Charisma Condominium located on Jane Street beside the worldrenowned Vaughan Mills Mall.

With five towers and over 1,100 residential units, Charisma is a special project for the Greenpark brand as it is poised to set the standard for high-rise living for so many Vaughan residents.

The first two towers launched late last year, and earlier this year respectively, were both exceptionally well-received by the community with both towers selling old out in a matter of months. Much to the delight of all purchasers, the project itself

has officially broken ground just this past month. According to Pellicano, this success was not unexpected. “Greenpark has been a big part of Vaughan’s history with over 20,000 residential units built, countless commercial developments and ongoing philanthropic contributions – you could say we have helped shape this entire city.”

Beyond these powerful shared roots, the Charisma project itself captured the imagination of the Vaughan public and beyond.

Pellicano proudly points to the lofty aims of this project to account for the public’s response. “The vision for this project was to create a pedestrian-oriented development

which focused on communitybased design and incorporated distinct architectural themes,” said Pellicano. “Basically, we wanted to create an exceptional urban community while offering a lifestyle to its residents that catered to their needs – transit, shopping and entertainment.”

This lifestyle is complemented by an abundance of interior amenities that will present residents and their guests with endless options for entertainment, relaxation and celebration.

From its Rooftop Skyview Terrace, to its outdoor pool, to its eighth floor garden terrace oasis and indoor bocce courts, Charisma is designed to welcome

and engage its residents like no building before it.

Pellicano believes that this year’s positive results firmly reinforce Greenpark’s long standing position as one of Vaughan’s, and one of Canada’s, elite builders.

With the release of the next two towers set for early 2019, Pellicano is confident that the success that accompanied the first release will only grow.

“It is less about market predictions and more about us.

There is no real secret,” he said.

“When you have the audacity to do what you say and say what you do for over 50 years, you build trust and trust is an important factor in every success story.”

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LOcaTIOn Vaughan buILdER Greenpark dEvELOPmEnT Charisma HOmE TYPE Condominium cOnTacT greenparkgroup.ca

nexthome.ca 21

PROPERTY PROFILE

VALERA 2 NOW AVAILABLE BY POPULAR DEMAND! In the amenity-rich, rapidly growing neighbourhood of Uptown Burlington, where the price of a single-family home has reached over $1.3 million, ADI Development Group’s Valera, the first phase of its newest masterplanned community, has been a huge success. In fact, demand is so hot for condominiums and townhomes in this excellent location that the developer is releasing the second phase, Valera 2 (also called V2) ahead of schedule. V2 includes many of the most desirable one-, two- and three-bedroom designs as the first phase, plus some new ones.

COnvEnIEnT LOCaTIOn

Commuting and traveling is easy from the Valera community, with 22 NextHome+CondoGuide | Nov. 24–Dec. 8, 2018

nearby GO trains and rapid bus transit, and Highways 403 and 407 only minutes away. For the utmost in convenience, many modern amenities lie within walking distance. Shopping, golf courses, restaurants, entertainment venues, services and more are just a stone’s throw away. Nature-lovers will appreciate that the Valera community is close to parks, the forested walking and jogging trails of Bronte Creek Provincial Park, and is anchored by views of the breathtaking Niagara Escarpment.

ExCEPTIOnaL DEsIgn anD FInIshEs

Lush green gardens surround Valera’s contemporary exterior.

The building’s clean lines, expansive glass and stepped architecture

creating huge private terraces will add a breath of fresh air to the area.

Well-designed suite layouts feature spaces that are both functional and flexible. Kitchens come with premium appliances, quartz countertops and polished chrome fixtures. Bright and spacious principal living areas feature up to nine-foot-high ceilings and wideplank laminate flooring.

ADI’s home+ smart-building technology integrates keyless entry, climate control, security and mobile app-enabled convenience.

Residents will be able to monitor their homes from the in-suite digital wall pad or from anywhere in the world on their mobile device.

DEsIRabLE amEnITIEs

Residents will come home to

ADI’s home+ smart-building technology integrates keyless entry, climate control, security and mobile app-enabled convenience.

Residents will be able to monitor their homes from the in-suite digital wall pad or from anywhere in the world on their mobile device.

Valera and V2’s dramatic doubleheight luxurious lobby, where 24-hour concierge offers peace of mind and a sense of security. On this level, a private dining/meeting room is available for those with a mobile or home-based office to host meetings or simply invite friends to enjoy a private dinner. Residents can gather with neighbours in the recreation and leisure area, or watch the ‘play-offs’ in the entertainment lounge. Dog owners exercise their pet, then clean dirty paws at the onsite pet spa.

On the third floor, the rooftop lounge and fire pit, pool and outdoor dining and BBQ area offer stunning views. Valera’s amenities also include a wellness spa with a sauna and steam room, a cross-fit equipped fitness facility and yoga studio. The availability of on-site car

share makes owning a vehicle an option rather than a necessity, with the benefit of potential cost-savings. an ImPECCabLE TRaCk RECORD

With a proven track record in Burlington and the GTA, awardwinning ADI Development Group has earned its tagline “Building The Exceptional.” The ADI team has extensive experience in creating stylish, comfortable designs that maximize usable space, all while delivering world-class service, catering to the needs of discerning home buyers.

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LOCaTIOn Burlington buILDER Adi Developments DEvELOPmEnT Valera hOmE TYPE Condo & townhouse

saLEs CEnTRE To be among the first to explore one of this year’s hottest communities, stop by the Valera Presentation Centre at 4880 Valera Road in Burlington, or register for V2 at www.adidevelopments.com.

4880 Valera Road COnTaCT adidevelopments.comcom

nexthome.ca 23

INSPIRATION |

style file

bliss

Kitchen Designer Jo Alcorn creAtes A DreAm kitchen for herself

26 NextHome+CondoGuide | Nov. 24–Dec. 8, 2018

I find staying with the same colour in an openconcept (like my home) gives the space a cohesive and continual look.

When it came to the design of my kitchen, I chose my appliances first. I knew I wanted something completely different and when I saw the new fingerprint resistant Sunset Bronze collection from Whirlpool (whirlpool.ca), I made this my jumping-off point for the entire space. With a brushed, satin finish and rose gold undertones, this suite really is the crème-de-la-crème of my kitchen. To complement the walls in my kitchen, I decided to stay true to my one true paint love – Jojo whitewash PF17 from Para (para.com). I find staying with the same colour in an open-concept (like my home) gives the space a cohesive and continual look.

Next, I worked with DV Kitchen and Bath (dvkitchens.ca) to find the right cabinets for a clean, streamlined look. I decided on a flat panel front but in trendy, gloss white; the gloss helps to bounce light and creates the illusion of a larger space. Plus, these cabinets are super easy to wipe down, keeping that new look and feel longer. I added Caesarstone’s Calacatta Nuvo (caesarstone.ca) for the island, counters and backsplash. This countertop is stunning and durable. Selecting a primarily white countertop with white cabinets makes the area feel open and spacious.

If I’ve said it once I’ve said it

a hundred times: The faucet is the gem in the kitchen! I went with Delta’s Trinsic faucet in champagne bronze (deltafaucet. ca). The design is simple, smart and elegant with an integrated pull down wand. Plus, the colour is a modern take on gold that pairs well with my stainless steel sink and warm-toned appliances.

I love how the herringbone-style floor turned out. I used a classic and timeless marble tile to balance the trendiness of the style. The result is amazing – and ties the cupboards, countertops, closet and paint all together. This tile came from Creek Side Tile (creeksidetile. com) where they have a vast selection to choose from.

Onto the finishing touches! The dishware and stools were found on Wayfair Canada (wayfair.ca).

They have an extensive collection of affordable options and offer free shipping. The blinds are TriLight that offer a unique combination of sheer pleated shade on the top and a honeycomb shade on the bottom. It’s like having three looks in one – all sheer, all privacy or half and half. This design is exclusive to Budget Blinds (blinds.ca).

To polish off my dream kitchen I chose to go with lights from Artcraft (artcraftlighting.com) that have lovely brass details. It brings the entire space together for a serene yet stunning look. I could not be happier with my kitchen refresh.

HGTV Jo Alcorn is an interior and product designer for Alcorn Home. She has a full home furnishing and pet line collection displayed and sold across Canada and the U.S. She is known for her clean line savvy design concepts. Alcornhome.com

Get back to the Simple Things

SEE PAGE 2 FOR MORE INFORMATION

nexthome.ca 27

ADVICE | kEEhn on monEy

First time getting into

homEownErshIp? Understand the hidden Costs

Kelley Keehn

Even with housing prices at record highs in many cities across Canada, the desire for homeownership is still strong.

According to a recent survey

by Ratehub.ca, 71 per cent of Canadians who don’t currently own would like to become a homeowner. And that stat is highest among Millennials, with 81 per cent (those who don’t currently own a home) desiring to become first-time buyers.

Canadians are itching to buy soon, too. Twenty-nine per cent who want to purchase a home would like to do so within one year.

But before you put your magazine down and start hitting open houses, Maili Wong, a certified financial planner and first vice-president with CIBC Wood Gundy would like you to fully understand the gravity of your decision. “Buying your first home can be one of the most significant financial decisions of your life,” says Wong. “Like any financial decision, you need to consider the pros and cons before you buy. Assess the upfront costs of buying a home: Property transfer taxes, real estate commissions, insurance, moving expenses and legal fees. Review the ongoing costs of maintaining the home: Mortgage payments, strata fees, utility and maintenance costs.”

The homebuying process can be 28 NextHome+CondoGuide | Nov. 24–Dec. 8, 2018

challenging to navigate, especially for first-time homebuyers. James Laird, co-founder of Ratehub Inc. and president of CanWise Financial, wants you to know about the various closing costs that first-time buyers must factor into their purchase process.

“Closing costs range from one to four per cent of the home price, depending on where the home is located. Land Transfer Tax is the most significant closing cost. For luxury homebuyers, this amounts to more than $100,000 in major Canadian cities.”

Don’t forget the legal fees either. Laird warns: “Buyers can also expect to incur a minimum of $1,500 in legal fees. A lawyer can also help buyers secure Title Insurance, which is usually a lender requirement. Title Insurance protects against losses in the event of a property ownership dispute

and costs between $300 - $1,000.”

Remember the home inspection, too. Laird says, “It’s a non-mandatory, but recommended service that buyers can contract as a condition of their Offer to Purchase. A home inspection is performed before a mortgage closes and helps ensure that the property is fit for purchase. Home inspections cost around $500.”

Kelley Keehn is a financial literacy advocate who has been on a mission to “make Canadians feel good about money.” She is the author of eight published books and is also a speaker, media personality and consumer advocate for the Financial Planning Standards Council. You can learn more about Kelley at kelleykeehn.com

+more adVICE online nexthome.ca/news/advice

ADVICE | ConDo pro

THE BEST TIME TO BUY A CONDO IS NOW!

BArBArA lAwlOr

You have heard the saying “timing is everything.” For new condo shoppers, this is certainly true – in more ways than one. Timing in your own life is, of course, of the utmost importance. If you are a first-time homebuyer, investing in a condominium suite can be your entry into the real estate market – one of the wisest moves you can make toward your future.

Building equity opens the door to numerous options as you age and life circumstances change.

Perhaps you are right-sizing your life for a more compact, convenient lifestyle. Or maybe you have a family and precious little time to spend with them. In that case, consider a condominium, which will free up a lot of time because of exterior and common area maintenance being handled for you. With beautiful amenities right in the building, you can eliminate the time it takes to drive to pools, exercise facilities, etc.

Then there is the marketing/ selling cycle for condominiums.

Timing may also into your decision with regard to projected occupancy dates. Purchasing a condominium suite from plans early in the cycle when a new community is announced, for example, has several benefits.

You will get the best price and the most choice of suites, floors and views. Plus, builders often include 30 NextHome+CondoGuide | Nov. 24–Dec. 8, 2018

grand opening incentives that can save you thousands. Buying early in the process also gives you time – often three to six years - to plan for and/or save money toward your new lifestyle. Buying early also offers you more opportunity to earn equity and even make a profit before your occupancy date – and yes, that can happen.

On the other hand, we see a lot of buyers who prefer to wait until they can see how well a condominium residence is being accepted by the public. Once construction begins, we usually see a jump in sales. For some, this is validation that the builder has enough sales to obtain financing and start the building process.

At the opposite end of the spectrum, purchasing late in a condo’s sales process means you can have a quicker move-in. The final few suites are often offered with special incentives that are incredibly attractive. Buying at this stage means you can start your carefree condo lifestyle right away.

On a more universal level, timing can be affected by the economy, especially when you consider mortgage interest rates. Who knew we would still be enjoying amazingly

low, single-digit rates today? The opportunity to buy a new home at rates our parents and grandparents experienced is unprecedented in our current economy. We all know these rates cannot continue forever.

And how about timing with respect to location? Many buyers, and especially investors, purchase in communities located in up-andcoming neighbourhoods. Prices are always better before the area’s revitalization is complete. On the other hand, you may prefer to move into an established location, and the increased price is worth it to you.

So, when is the best time to buy a condo in the GTA? NOW! 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

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BEAMSVILLE

Contact VistaRidge@LosaniHomes.com

EXCLUSIVE ENCLAVE OF 35 SINGLES from the high $500’s

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BACK-TO-BACKS from the mid $400’s TOWNS from the low $500’s Contact CentralPark@LosaniHomes.com

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BACK-TO-BACKS from the high $400’s TOWNS from the mid $400’s LUXURY SINGLE priced at $1.2m Contact Pronto@LosaniHomes.com ™

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High HighStyle Style& &Inspired InspiredLiving Living More Living More Room.Living Room.

Spacious, open-concept Spacious, open-concept living spacesliving withspaces with expansive windows expansive windows and soaring and ceilings. soaring ceilings.

LuxuryLuxury Condos Condos in Stoney in Stoney Creek Creek from the from low the $300’s low $300’s Casa Di Torre Casa is inspired Di Torreby is inspired you. Designed by you.with Designed thoughtful witharchitecture, thoughtful architecture, stunning finishes, stunning spacious finishes, suites spacious and inspiring suites and amenities. inspiringFrom amenities. shared From workspace, shared workspace, entertainment entertainment kitchen andkitchen loungeand to the lounge rooftop to the terrace, rooftop there’s terrace, plenty there’s plenty of stylish spaces of stylish to fitspaces your life. to fit Experience your life. Experience it. it.

One bedroom, OneOne bedroom, plus den, One Two plusbedroom, den, Two bedroom, Two bedroom Twoplus bedroom den and plus den and Penthouse collections.

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NOW OPENNOW - Presentation OPEN - Presentation Centre: Centre: 121 Hwy. 8.121 Stoney Hwy.Creek, 8. Stoney On L8E Creek, 5B7On L8E 5B7 289-309-2272 289-309-2272 casasales@branthaven.com casasales@branthaven.com

CasaDiTorreCondos.com CasaDiTorreCondos.com

All renderings are artist’s concept. Prices, sizes and specifications are subject to change without notice. E&O.E. All renderings are artist’s concept. Prices, sizes and specifications are subject to change without notice. E&O.E.

PROPERTY PROFILE

New release Of rear laNe And twO-StOrey tOwnhOmeS cOming SOOn tO whitby’s QueeN’s CommoN In the new year, Mattamy Homes will release a completely new selection of rear lane and two-storey townhomes at Queen’s Common in Whitby.

This historic community is on the ground where The Queen’s Plate was once run. It is now a neighbourly collection of fine homes that are helping to make Whitby one of the most desirable places to live in the eastern GTA. The new release of architecturally interesting and thoughtfully planned townhomes includes rear lane townhomes 34 NextHome+CondoGuide | Nov. 24–Dec. 8, 2018

ranging in size from 1,579 sq. ft. to 1,975 sq. ft., with double car garages tucked in a lane out back, so you now have enjoyable streets to walk and stately architecture to admire. The two-storey towns range in size from 1,389 sq. ft. to 1,924 sq. ft. so you can confidently find exactly what your family needs.

Queen’s Common is beautifully balanced and splendidly situated.

The balance of home styles makes every street interesting and the balance of green space to living space makes this an appealing place to raise a family.

Queen’s Common is situated close to major highways including the 401, 412 and 407. It is also situated close to shopping, dining, entertainment and the benefits of a small town main street.

Recreational facilities include Iroquois Park Sports Centre and more than 114 local parks with over 900 acres of space to roam and more than 60 kilometres of inviting trails to walk or bike. There are also established schools of all levels.

Every Mattamy home in Queen’s Common incorporates

architectural styling and thoughtful planning that you’d expect from Canada’s largest new home builder. Interior spaces are as usable as they can possibly be and windows are numerous and generous in size.

Mattamy’s forward-thinking architectural designs include the option to add features to your home as it’s being built. This allows you to personalize your home and have the comfort of knowing that all work is warranted and will be done to Mattamy’s high standards. To further explore the personalization of your home, you’ll find the Mattamy Design Centre and a professional design consultant very helpful in making your home perfect.

If you are looking for relaxed, urban living in fast-growing Whitby, visit the Queen’s Common sales centre in Pickering and find your new home.

Mattamy Homes is the largest privately owned homebuilder in North America, with 40-year

history of operations across the United States and Canada.

Every year, Mattamy helps 7,000 families realize their dream of home ownership.

In the United States, the company is represented in 10 markets – Charlotte, RaleighDurham, Phoenix, Tucson, Jacksonville, Orlando (where its U.S. head office is located), Tampa, Sarasota, Naples and Southeast Florida – and in Canada, those communities stretch across the Greater Toronto Area, as well as in Ottawa, Calgary and Edmonton.

Since 1978, the Mattamy team have built more than 90,000 homes across Canada and the United States. In the GTA, they have the distinction of having earned an unprecedented eight BILD Home Builder of the Year Awards.

Register today for updates on the upcoming release.

Visit the website at mattamyhomes.com or at the Queen’s Common sales centre at 1075 Taunton Road in Pickering.

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LOcaTIOn Whitby buILdER Mattamy Homes cOmmunITY Whitby HOmE TYPE Rear lane and two-storey townhomes

SaLES cEnTRE HOuRS Located at 1075 Taunton Road. Open Monday to Thursday from 1 p.m. to 8 p.m.; Friday 1 p.m. to 6 p.m.; weekends from 11 a.m. to 6 p.m. cOnTacT 905-683-9177

nexthome.ca 35

trending

PREVIEW SALES CONTINUE AT HEATHWOOD’S NEW HOMES AT WALLACETON IN SOUTH KITCHENER For nearly 40 years, awardwinning builder Heathwood Homes has been creating extraordinary communities for families across Southern Ontario. Now, Heathwood is offering its fabulous new homes in Wallaceton, a unique masterplanned community in the desirable and convenient area of south Kitchener. At the recent sales opening of luxurious townhomes, 50 per cent of the limited release were sold to purchasers attracted to Heathwood’s innovative open-concept designs in threeand four-bedroom layouts. An excellent selection of these fabulous townhomes are still available. In addition, Heathwood is accepting registrations for its upcoming 31-foot singledetached homes release.

Wallaceton’s location is perfect for first-time buyers, young and growing families seeking a move to a larger home, as well as 36 NextHome+CondoGuide | Nov. 24–Dec. 8, 2018

those right-sizing their lifestyle.

Situated opposite the new RBJ Schlegel Park, which is currently under construction, Wallaceton also has a large community park, unique parkettes, an elementary school site, open space/wetland area, ponds, trails and walkways.

A wide selection of retailers and restaurants is also nearby.

Heathwood’s homes have striking exteriors in timeless materials of stone, brick and siding with classic detailing.

Luxury interior features of these townhomes include finished lower level with a three-piece bathroom; nine-foot main level ceilings; stone kitchen counters; hardwood flooring on main level, oak stairs; electric fireplace in Great Room (all as per plan), and many more luxury features. The two-storey townhomes range from 1,785 to 2,733 square feet with spacious living and dining areas, large family rooms, gourmet kitchens and

sleek bathrooms. Preview pricing in effect from the low $500,000s.

The 31-foot detached homes will be available in sizes from 1,600 to nearly 3,000 square feet, with three- and four-bedroom layouts and loaded with standard luxury features.

Heathwood has earned the reputation as a builder with a difference – and that difference will soon brighten south Kitchener’s residential landscape in Wallaceton.

Register for Wallaceton singles today at www.Heathwood.com.

Visit the sales office at 1940 Fischer-Hallman Road in Kitchener.

Hours: Mon. to Thurs. 1 p.m. to 8 p.m.; Sat. & Sun. 10 a.m. to 6 p.m. Call 905-874-4741 for more information.

+MORE ADVICE ONlINE nexthome.ca/news/advice

HOT PROPERTIES

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

Gta prevIew reGistration 1. 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

f. summerlyn villaGe

new openinGs

4. lonGview ravine estates By: Bay Homes City: Mississauga Housing type: Detached homes from $1.5M up to 45-ft. lots www.ravineestates.ca

5. 8 cumBerland By: Great Gulf & Phantom Developments City: Toronto Housing type: Condominiums from the low $700s 8cumberland.ca

6. adena views By: Treasure Hill City: Aurora Housing type: Luxury singles on 36, 40, 45 and 60 ft. lots treasurehill.com

7. charisma condominiums By: Greenpark Group City: Vaughan Housing type: Condo charismacondos.ca

8. trendi By: Treasure Hill City: Markham Housing type: Phase 2 release of modern townhomes. Register now. treasurehill.com

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a. GeorGina heiGhts

By: Great Gulf City: Bradford Housing type: Detached homes greatgulf.ca

By: Treasure Hill City: Keswick Housing type: Bungalows, bungalofts and singles treasurehill.com

B. upper valleylands By: Fieldgate Homes City: Brampton Housing type: Semis, single-detached and freehold townhomes from upper $500s fieldgatehomes.com

c. saturday in downsview park By: Mattamy Homes City: North York Housing type: Mid-rise condominium mattamyhomes.com

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

e. kinGsview ridGe By: Treasure Hill City: Oshawa Housing type: Bungalows and single detached homes treasurehill.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  37

HOT PROPERTIES / GREATER TORONTO AREA

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PROPERTY PROFILE

Graywood and alterra release hard-loft conversion at leslieville’s Wonder condos Following the record-breaking success of Wonder Condos’ initial release, Graywood Developments and Alterra have brought a slate of hard-loft conversions to market.

With original beams and windows, exposed brick walls, black metal accents and custom kitchens with upgraded appliances, the exclusive Heritage Lofts are a rarity — authentic hard lofts with an industrial past.

40 NextHome+CondoGuide | Nov. 24–Dec. 8, 2018

“Wonder Heritage Lofts are yet another example of how we can use our collective experience to create something truly exceptional. We feel like this exclusive and limited collection of homes are a chance for residents to be part of both old and new Toronto.” says Stephen Price, President & CEO, Graywood. “Our team has worked hard to make sure that these unique suites offer

a level of detail, finish and esthetic, that not only meet our purchaser expectations but exceed them.”

“Wonder Condos fits perfectly into what we do best; create masterfully crafted buildings that go on to define neighbourhoods.

With the Heritage Lofts, we are excited and inspired to showcase our outstanding experience and unique skill set of bringing historical conversion projects to life,” says Robert Cooper, President & CEO

of Alterra, who will be heading up construction of the project.

“The renewal of both the interior and exterior spaces will breathe new life into this iconic landmark and create a new place of wonder in Toronto’s burgeoning east side,” adds Cooper.

Recognizing the rarity of hard lofts in the current Toronto market, Graywood and Alterra worked with the design team of Diamond Schmitt Architects and TACT Design to ensure they were making the most of the opportunity.

“The open concept Heritage Lofts nestled in the original post and beam structure exude plenty of character and feature high ceilings, exposed beams, and enlarged windows to complement a modern aesthetic,” says Donald Schmitt, Principal, Diamond Schmitt Architect. “We had to pay homage to the industrial past of the building.”

Located in one of Toronto’s most sought-after communities, Wonder Condos has transformed a former bread factory into a modern eight-storey residential condominium, all while restoring

its industrial roots and capturing the identity of Leslieville. Wonder’s ambitious design includes one of Toronto’s largest structural heritage preservations in situ, converting and adapting the existing form into hard lofts and commercial space.

“Carved into the original portion of the old bread factory, dating back to the early 1920’s, Wonder Heritage Lofts are authentic lofts spaces. Infused with historic character and offering all the comforts of modern living, these lofts are truly one of a kind.

Beautifully crafted and appointed, many feature 10-feet high

kitchens, exposed brick walls, and 13-feet high industrial-style interior glazing, while others enjoy two-storey volumes with upperlevel master suites. A variety of these combinations gives these loft suites their unique character and heightens the quality of living,” says Michael Krus, Lead Designer, TACT Design.

For more information on Wonder Condos Heritage Lofts, please visit www.wondercondos.com or visit the presentation centre at 150 Logan Avenue. Open 12-6pm Monday-Thursday and 12-5pm on weekends.

+

LOcaTIOn Leslieville in Toronto BuILdER Graywood and Alterra dEvELOPmEnT Wonder Condos HOmE TYPE Condominiums and hardloft conversions

SaLES cEnTRE 150 Logan Avenue cOnTacT wondercondos.com

41

trend watch

passing the bucks BaBy Boomer parents are “transferring wealth” in record numBers to their kids by michelle hopkins Baby Boomers, arguably the wealthiest generation in decades, are aging and passing down some of their assets to their grown children in record numbers.

Financial advisors like Don Campbell, a senior analyst with Real Estate Investment Network (REIN), calls this significant passing of assets between Baby Boomers and Millennials “wealth transfer.”

The reasons for this growing phenomenon are many.

In addition to the country’s high real estate prices in major key cities, such as Vancouver, Calgary, Edmonton and Toronto, wealth transfer can be attributed to the federal and provincial governments’ stricter lending rules and interest rate hikes.

42 NextHome+CondoGuide | Nov. 24–Dec. 8, 2018

Don Campbell is a senior analyst with the Real Estate Investment Network (REIN)

“The new mortgage stress testing introduced in January squeezed the budgets of first-time buyers, paving the way for even more Baby Boomers having to assist their children to get into the housing market,” notes Campbell.

According to Statistics Canada, there are 9.6 million Baby Boomers (or 30 per cent of the population), born between 1946 and 1965, many of whom are anxious to see their cash-strapped Millennials break into the housing market.

That wealth transfer, says Campbell “is changing the dynamic of the Canadian real estate market.” continued on page 47

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Builders Builders If If you you would would lIke lIke toto Include Include your your prevIew prevIew regIstratIon, regIstratIon, new new release release oror sIte sIte openIng openIng In In thIs thIs feature, feature, just just emaIl emaIl the the detaIls detaIls toto editorial@nexthome.ca editorial@nexthome.ca nexthome.ca 43

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INDEX OF ADVERTISERS

Branthaven Homes - Casa Di Torre

Carriage Gate - Gallery Loft & Condos

32&33

13

Losani Homes - Vista Lincoln

2&27,31

Mattamy Homes - Downsview Park

IBC

Fieldgate Homes - Impressions

7

Mattamy Homes - Queen's Common

OBC

Fieldgate Homes - Upper Valleylands

7

Menkes Developments Inc. - Harbour Plaza

1

Fieldgate Homes - Valleylands

7

Menkes Developments Inc. - in.DE

1

Fieldgate Homes - Whitby Meadows

7

Menkes Developments Inc. - The Eglinton Yonge at Heart

1

Great Gulf - 8 Cumberland

24&25

Menkes Developments Inc. - Sugar Wharf

Great Gulf - Summerlyn Village

24&25

Mountainview Homes- Lyons Creek

11

15

Mountainview Homes- One Twenty

27

Green Park Homes- Charisma

Lindwest - Klein Estates

Losani Homes - Simply Grand

46 NextHome+CondoGuide | Nov. 24–Dec. 8, 2018

5

2&27,31

Plaza - Corporate

IFC

3

“

One notable difference is the rise in multigenerational housing, bringing generations together under the same roof. Over the last few years, architects and developers have responded to this ongoing shift by creating flexible units and newer solutions, such as laneway homes.

”

continued from page 42

One notable difference is the rise in multi-generational housing, bringing generations together under the same roof. Over the last few years, architects and developers have responded to this ongoing shift by creating flexible units and newer solutions, such as laneway homes.

“This trend is normal for many immigrant families but is now catching on with baby boomers in larger centres,” explains Campbell.

“We are seeing a rise in Baby Boomers building spectacular suites in their homes and giving up the main home to their children or constructing laneway housing on their property for them or their adult children.”

It’s no wonder. The 2016 Statistics Canada Census highlights the fact that young adults living in their parents’ home continues

to rise. Today’s young adults are also more likely to be at home for an extended stay compared with previous generations of young adults who resided with their parents, according to the report.

“In 1981, seven per cent of children between the ages of 25 to 29, and 32 per cent of 20 to 24 were still living at home,” says Campbell, adding this growth can also be blamed on the lack of affordable rental builds. “Today, those numbers have risen to 27 and 58 per cent respectively.”

In addition, the 2016 Census added a new category; 11 per cent of young adults between the ages of 30 to 39 are living at home.

“Baby Boomers are giving their children their inheritances early as a way to gift or loan their children the money in order to motivate them to get out of the family home,”

says Campbell. “This transfer of wealth is opening doors to homes and borrowing options otherwise unavailable to many Millennials.”

Another smart wealth transfer strategy is to purchase real estate for your university-bound children.

“When kids head off to university, parents should consider buying properties in university towns,” says Campbell. “These should be large enough so that their kids can have roommates to help defray the costs.”

Then, when they finish their university degrees, parents can take the equity out of the property and pay off their children’s postsecondary expenses.

However, Campbell cautions parents to think about their retirement plans before gifting their children money from the equity in their homes.

“The current remortgaging rules and higher interest rates are devaluing homes and affecting boomers’ ability to help their children,” Campbell says. “The federal and provincial governments attempt to push down home values is putting the middle class behind the financial eight-ball.”

+more adVice online nexthome.ca/news/advice

nexthome.ca 47

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18-0878_SATURDAY_NEXTHOME-CONDOGUIDE_NOV24_V1.pdf

1

2018-11-15

11:23 AM

What are you doing this you Saturday?

What are doing this Saturday?

What are you doing this Saturday?

Well, for starters, you should visit the Saturday Sales Centre. Secondly, start dreaming of how great life will be once you move into these boutique condos nestled inside Downsview Park. With a wealth of amenities, a stunning two-storey lobby, stylish party room, expansive outdoor terraces, well-equipped fitness zone and a dedicated space for theshould little ones, easy access Sales to transit, andSecondly, all the great things Downsview Well, for starters, you visit the Saturday Centre. start dreaming of howPark greatoffers, life every day will feel like Saturday here. will be once you move into these boutique condos nestled inside Downsview Park. With a wealth of amenities, a stunning two-storey lobby, stylish party room, expansive outdoor terraces, well-equipped fitness zone and a dedicated space for the little ones, access to transit,PARK and all the things Downsview Park offers, SATURDAY INeasy DOWNSVIEW ISgreat NOW OPEN. every day will feel like Saturday here.

Well, for starters, you should visit the Saturday Sales Centre.

Secondly, dreaming FROM of how great life NEW PENTHOUSE RELEASE INCLUDING PARKING &start LOCKER $499,990. will be once you move into these boutique condos nestled inside Downsview Park. With a wealth of amenities, SATURDAY INparty DOWNSVIEW PARKterraces, IS NOW OPEN. fitness zone and a stunning two-storey lobby, stylish room, expansive outdoor well-equipped a dedicated space for the little ones, easy access to transit, and all the great things Downsview Park offers, NEW PENTHOUSE RELEASE INCLUDING PARKING & LOCKER FROM $499,990. every day will feel like Saturday here.

SATURDAY IN DOWNSVIEW PARK IS NOW OPEN. GLEN ASHTON ESTATES FLEUR NEW PENTHOUSE RELEASE INCLUDING PARKING & LOCKER FROM $499,990.

IN.DE OAKVILLE CHURCH & SHUTER

DUNDAS E + JARVIS

SHEPPARD

Illustrations are artist’s impressions. Prices, specifications and promotions are subject to change without notice. E. & O.E. 2018.

@ MattamyHighrise

Illustrations are artist’s impressions. Prices, specifications and promotions are subject to change without notice. E. & O.E. 2018.

KEELE

VISIT US TODAY. SALES CENTRE 2995 KEELE STREET 416.630.8282 MATTAMYHOMES.COM MONDAY TO THURSDAY NOON - 6PM / FRIDAY CLOSED / SATURDAY, SUNDAY AND HOLIDAYS NOON - 5PM

KEELE

Now Previewing Under Construction VISIT US TODAY. SALES CENTRE 2995 KEELE STREET 416.630.8282 MATTAMYHOMES.COM Register 3 bedrooms MONDAY TO THURSDAY NOON 6PM / FRIDAY CLOSED / SATURDAY, SUNDAY AND HOLIDAYS NOON - 5PM @menkes.com From the -low $900’s

Coming Soon DOWNSVIEW Register @menkes.com PARK Detached Homes in the Joshua Creek Neighbourhood SHEPPARD DOWNSVIEW PARK

@ MattamyHighrise

SHEPPARD

KEE

DOWNSVIEW

WE DESIGN WITH YOU IN MIND MATTAMY MODEL HOME

Brand New Townhome Designs Coming Soon To Queen’s Common.

NEW 2-STOREY & REAR LANE TOWNHOMES COMING SOON IN WHITBY. Our established Queen’s Common community in Whitby continues to grow.

Soon, more affordable Townhome designs will be available. Live connected to transit, shopping, dining, recreation and nature plus established schools of all levels. Life is good in Mattamy’s Queen’s Common.

ENGLISH MANOR

TRADITIONAL

Rear Lane Townhome, The Brookside ‘Traditional’, 1,712 Sq.Ft.

2-Storey Townhome, The Pinegrove ‘English Manor’, 1,982 Sq.Ft.

THOUGHTFUL DESIGN

THE MATTAMY WAY SALES CENTRE

1075 Taunton Road, Pickering 905.683.9177

At Mattamy Homes, we design homes that are thoughtfully planned to maximize the living space while bringing families closer together. From large breakfast bars where everyone can gather to eat, to Jack-and-Jill bathrooms to share, Mattamy is committed to thoughtful design in every room.

Learn More at mattamyhomes.com Please visit mattamyhomes.com for Sales Centre & Model Home hours All illustrations are artist’s concept. All dimensions are approximate. Prices, specifications, terms and conditions subject to change without notice. E.&O.E.