TORONTO, ON, June 29, 2015 — The official opening of new affordable rental homes for low and moderate-income seniors and families was held in Toronto today. The West Don Lands received nearly $25 million in funding from the federal and provincial governments. The construction of these new units has helped stimulate the economy and create approximately 570 jobs in Toronto.

Lois Brown, Parliamentary Secretary to the Minister of International Development and Member of Parliament for Newmarket-Aurora, on behalf of the Honourable Candice Bergen, Minister of State (Social Development); the Honourable Ted McMeekin, Minister of Municipal Affairs and Housing; and Ana Bailão, Councillor for Ward 18 (Davenport), made the announcement.

“It is a pleasure to see that the West Don Lands housing complex is improving the lives of the people of Toronto,” said Parliamentary Secretary Brown. “Our Government is proud to invest in housing in this city and across the country and to help seniors and families access affordable housing that meets their needs.”

“This beautiful new rental housing complex provides families and seniors with access to more stable and affordable homes,” said the Honourable Ted McMeekin, Minister of Municipal Affairs and Housing. “Communities like this help to ensure that everyone has the opportunity to connect, contribute and enjoy a high quality of life.”

“Thanks to a partnership between the federal and provincial governments, City of Toronto and Toronto Community Housing, lower-income seniors and families have started new lives in the new community of West Don Lands,” said Councillor Ana Bailão (Ward 18 Davenport), the City’s Housing Advocate and Chair of the Affordable Housing Committee. “I also want to congratulate Councillor Pam McConnell for her work in bringing affordable housing to Ward 28 Toronto Centre-Rosedale.”

The nearly $25 million investment provided through the Canada-Ontario Affordable Housing Program and Canada’s Economic Action Plan has been used to create 243 new rental housing units at 589 King Street East. Developed by Toronto Community Housing, the project site is part of the West Don Lands revitalization plan that includes the site for the 2015 Pan-Am Athletes’ Village, a new student residence for George Brown College and a YMCA building. The site contains two four-storey buildings with 115 affordable rental family units and an eight-storey building of 128 affordable rental seniors units.

The City of Toronto increased the number of affordable homes by directing an additional $7.49 million to this development from the provincial Developing Opportunities for Ontario Renters (DOOR) funding program, made possible through the federal Housing Trust. Toronto Community Housing funded the remaining capital construction costs, which it expects to recover through rental revenues over the life of the building.

“In the West Don Lands, Toronto Community Housing is contributing to the transformation of the area into a successful, mixed-use, mixed income community,” said Greg Spearn, Interim President and CEO, Toronto Community Housing. “These new homes are part of our development program that includes rebuilding or refurbishing over 5,000 homes in revitalization communities across Toronto.”

Annually, the Government of Canada, through Canada Mortgage and Housing Corporation (CMHC) invests approximately $2 billion in housing. These investments improve the quality of life for low-income Canadians and households living in existing social housing, including individuals who are homeless or at-risk of homelessness, seniors, persons with disabilities, recent immigrants and Aboriginal people. Economic Action Plan 2013 continued this commitment with a federal investment of more than $1.25 billion over five years to extend the Investment in Affordable Housing Program to 2019. The Government of Canada will ensure that funds provided to provinces and territories support the use of apprentices, which will support training of skilled labour.

Ontario continues to build new affordable housing and repair existing units for Ontarians with housing needs. Since 2003, the province has committed more than $4 billion in funding for affordable housing, which has helped support more than 20,000 new affordable rental housing units, more than 275,000 repairs and improvements to social and affordable housing units and rental and down payment assistance to more than 90,000 households in need. Ontario’s Long-Term Affordable Housing Strategy has set a strong foundation for a more efficient, accessible affordable housing system and now the province has launched consultations to support a renewed Long-Term Affordable Housing Strategy. Participants can submit their views to the government online, by telephone or in writing by July 3, 2015.

Investing in affordable housing is part of the Ontario government’s economic plan to build Ontario up. The four-part plan includes investing in people’s talents and skills, making the largest investment in public infrastructure in Ontario’s history, creating a dynamic and innovative environment where business thrives, and building a secure retirement savings plan.

To find out more information on:

• How the Government of Canada and CMHC help Canadians meet their housing needs, call CMHC at 1-800-668-2642.
• Affordable housing in Ontario, visit ontario.ca/housing and Ontario’s Long-Term Affordable Housing Strategy
• Housing in the City of Toronto, visit torontohousing.ca/revitalization

Media contacts:

Dean D’Souza
Public Affairs Central
Canada Mortgage and Housing Corporation
416-250-2760

Gil Hardy
City of Toronto
416-397-4701

Lisa Murray
Media and Public Relations
Toronto Community Housing
416-737-1352

Mark Cripps
Office of the Minister of Municipal Affairs and Housing
416-585-6842

Conrad Spezowka
Communications
Ministry of Municipal Affairs and Housing
416-585-7066

Article source: http://www.cmhc.ca/en/corp/nero/nere/2015/2015-06-29-1000.cfm

OTTAWA, ONTARIO, June 26, 2015 — The governments of Canada and Ontario, and the City of Ottawa, celebrated the first anniversary of the opening of 41 affordable housing rental units at Place Perrault today. The construction of this property has supported economic growth and helped create 102 jobs in Ottawa while providing more affordable housing options for members of the Aboriginal community and low-income individuals.

Royal Galipeau, Member of Parliament for Ottawa-Orléans, on behalf of the Honourable Candice Bergen, Minister of State (Social Development); Marie-France Lalonde, Member of Provincial Parliament for Ottawa-Orléans, on behalf of the Honourable Ted McMeekin, Ontario’s Minister of Municipal Affairs and Housing; and Bob Monette, Deputy Mayor of the City of Ottawa, on behalf of Jim Watson, Mayor of the City of Ottawa, made the announcement today.

“Our government is dedicated to increasing the supply of affordable housing throughout the country, and I am proud of the role we have played in bringing Place Perrault to life,” said MP Galipeau. “It is gratifying to see that these new affordable units are improving the lives of low-income individuals and members of the Aboriginal community here in Ottawa.”

“A home provides a stable foundation that can help people rise out of poverty. Our government is committed to helping prevent and reduce poverty in Ontario,” said Marie-France Lalonde, MPP for Ottawa-Orléans. “Affordable housing is the basis to the well-being of Ontario’s families and building stronger communities.”

“I see the success of this project, not in the bricks and mortar of the building itself, but in the faces of the residents who now have a home they can be proud of,” said Mayor Watson. “This project is in line with the 10 Year Housing and Homelessness Plan and a reminder that Ottawa is striving to be a city where everyone has a place to call home.”

• Place Perrault is located at 205 Eric Czapnik Way. The project received $2.87 million to build 41 new rental housing units through the Canada-Ontario Affordable Housing Program Agreement. The federal and provincial funding is complemented by $2.2 million in municipal financial incentives from the City of Ottawa.
• The five-storey apartment building is comprised of 29 one-bedroom and 12 two-bedroom rental units, including two accessible units. Place Perrault is owned and managed by Wigwamen Incorporated, which has partnered with Minwaashin Lodge to provide support services to some of its residents. As part of Wigwamen’s ongoing programs, residents will also have the opportunity to participate in the Wigwamen Post-Secondary Scholarship, a Childrens’ Book Club and a Back-to-School Backpack program.

“These 41 affordable homes are a great addition to this community,” said Angus Palmer, General Manager of Wigwamen. “This building is a wonderful example of the power of the partnership between all levels of government and our organization.”

Annually, the Government of Canada, through Canada Mortgage and Housing Corporation (CMHC) invests approximately $2 billion in housing. These investments improve the quality of life for low-income Canadians and households living in existing social housing, including individuals who are homeless or at-risk of homelessness, seniors, persons with disabilities, recent immigrants and Aboriginal people. Economic Action Plan 2013 continued this commitment with a federal investment of more than $1.25 billion over five years to extend the Investment in Affordable Housing Program to 2019. The Government of Canada will ensure that funds provided to provinces and territories support the use of apprentices, which will support training of skilled labour.

Ontario continues to build new affordable housing and repair existing units for Ontarians with housing needs. Since 2003, the province has committed more than $4 billion in funding for affordable housing, which has helped support more than 20,000 new affordable rental housing units, more than 275,000 repairs and improvements to social and affordable housing units and rental and down payment assistance to more than 90,000 households in need. Ontario’s Long-Term Affordable Housing Strategy has set a strong foundation for a more efficient, accessible affordable housing system and now the province has launched consultations to support a renewed Long-Term Affordable Housing Strategy. Participants can submit their views to the government online, by telephone or in writing by July 3, 2015.

Investing in affordable housing is part of the Ontario government’s economic plan to build Ontario up. The four-part plan includes investing in people’s talents and skills, making the largest investment in public infrastructure in Ontario’s history, creating a dynamic and innovative environment where business thrives, and building a secure retirement savings plan.

To find out more information on:

• How the Government of Canada and CMHC help Canadians meet their housing needs, call CMHC at 1-800-668-2642.
• Affordable housing in Ontario, visit ontario.ca/housing and Ontario’s Long-Term Affordable Housing Strategy
• Housing in Ottawa, visit ottawa.ca/housing

Media contacts:

Dean D’Souza
Public Affairs Central
Canada Mortgage and Housing Corporation
416-250-2760

Media Contact
City of Ottawa
613-580-2450

Mark Cripps
Office of the Minister of Municipal Affairs and Housing
416-585-6842

Conrad Spezowka
Communications
Ministry of Municipal Affairs and Housing
416-585-7066

Article source: http://www.cmhc.ca/en/corp/nero/nere/2015/2015-06-26-1330.cfm

WOODSTOCK, ONTARIO, June 24, 2015 — The governments of Canada and Ontario celebrated the official opening of four new affordable housing projects for people with disabilities, low-income individuals and seniors in Oxford County today. Combined, these four projects received more than $2.2 million in funding from the federal and provincial governments. The construction of these new rental housing properties has supported economic growth and helped create 84 jobs in Ontario.

Dave MacKenzie, Member of Parliament for Oxford, on behalf of the Honourable Candice Bergen, Minister of State (Social Development), the Honourable Ted McMeekin, Minister of Municipal Affairs and Housing, and David Mayberry, Warden of Oxford County, made the announcement today.

“Our Government is proud to invest in these four new housing projects which provide a stable and affordable home for people with disabilities, low-income individuals and seniors in Woodstock,” said MP MacKenzie. “I am glad that our investment has also improved the lives of Canadians by creating much-needed jobs.”

“Our government is committed to ending homelessness,” said Minister McMeekin, Municipal Affairs and Housing. “Through programs like this one, we’re helping people in need to gain access to affordable housing and a stable place to live.”

“Oxford County is in much need of affordable housing,” said Warden Mayberry. “There are over 1,400 people waiting for social housing. The work organizations like Indwell are doing helps address a growing need for housing, while also providing supportive assistance to the residents occupying these beautiful new units. Everyone deserves a place to call home, and Oxford County is happy to see Indwell and other local organizations working in partnership with all three levels of government.”

The event celebrated the official opening of four new affordable rental housing projects in Oxford County. Projects include:

• Harvey Woods Lofts, 18 Vansittart Avenue in Woodstock received $727,529 for 14 units for people with disabilities.
• 68 Young Street, in Woodstock received $560,000 for 8 units for people with disabilities.
• 35 Maria Street, in Tavistock received $784,415 for 11 units for low-income seniors.
• 405 Dundas Street, in Woodstock received $140,000 for low-income individuals.

The funding for all four projects comes as a result of the $481 million Investment in Affordable Housing 2011-2014 Agreement between the Governments of Canada and Ontario. The federal and provincial funding is complemented by more than $1.7 million in non-government contributions, including charity, non-profit and equity.

Annually, the Government of Canada, through Canada Mortgage and Housing Corporation (CMHC) invests approximately $2 billion in housing. These investments improve the quality of life for low-income Canadians and households living in existing social housing, including individuals who are homeless or at-risk of homelessness, seniors, persons with disabilities, recent immigrants and Aboriginal people. Economic Action Plan 2013 continued this commitment with a federal investment of more than $1.25 billion over five years to extend the Investment in Affordable Housing Program to 2019. The Government of Canada will ensure that funds provided to provinces and territories support the use of apprentices, which will support training of skilled labour.

Ontario continues to build new affordable housing and repair existing units for Ontarians with housing needs. Since 2003, the province has committed more than $4 billion in funding for affordable housing, which has helped support more than 20,000 new affordable rental housing units, more than 275,000 repairs and improvements to social and affordable housing units and rental and down payment assistance to more than 90,000 households in need. Ontario’s Long-Term Affordable Housing Strategy has set a strong foundation for a more efficient, accessible affordable housing system and now the province has launched consultations to support a renewed Long-Term Affordable Housing Strategy. Participants can submit their views to the government online, by telephone or in writing by July 3, 2015.

Investing in affordable housing is part of the Ontario government’s economic plan to build Ontario up. The four-part plan includes investing in people’s talents and skills, making the largest investment in public infrastructure in Ontario’s history, creating a dynamic and innovative environment where business thrives, and building a secure retirement savings plan.

To find out more information:

• On affordable housing in Ontario, visit ontario.ca/housing and Ontario’s Long-Term Affordable Housing Strategy
• On housing in Oxford County, visit www.oxfordcounty.ca/Find-Housing
• On Government of Canada, call CMHC at 1-800-668-2642.

Media contacts:

Dean D’Souza
Public Affairs Central
Canada Mortgage and Housing Corporation
416-250-2760

Tommasina Conte
Oxford County
519-539-9800 ext. 3503

Mark Cripps
Office of the Minister of Municipal Affairs and Housing
416-585-6842

Conrad Spezowka
Communications
Ministry of Municipal Affairs and Housing
416-585-7066

Article source: http://www.cmhc.ca/en/corp/nero/nere/2015/2015-06-24-0900.cfm

TORONTO, June 8, 2015 — Housing starts in the Toronto Census Metropolitan Area (CMA) trended higher at 38,355 units in May compared to 32,614 in April according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)¹ of housing starts.

“Housing starts trended at their highest level in over two years in May. Building activity was strongest in the 905 areas, with condominium apartment starts leading the way.” said Dana Senagama, CMHC’s Principal of Market Analysis for the GTA. “High cost of land and scarcity of serviceable lots appeared to induce more high density construction into the suburbs”.

CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next.

The stand alone monthly SAAR was 58,351 units in May, up from 38,731 units in April. This was the result of an increase in apartment starts this month.

The City of Toronto and the City of Mississauga recorded the first and second highest number of starts in May respectively. Both of these municipalities had a significant number of apartment starts. The next highest number was recorded in the City of Vaughan, which also had a large number of apartment starts, as well as single-detached units.

Preliminary Housing Starts data is also available in English and French at the following link: Preliminary Housing Starts Tables

As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

¹ All starts figures in this release, other than actual starts and the trend estimate, are seasonally adjusted annual rates (SAAR) — that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. By removing seasonal ups and downs, seasonal adjustment allows for a comparison from one season to the next and from one month to the next. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.

Information on this release:

Market Analysis Contact:

Dana Senagama
416-218-3328
dsenagam@cmhc.ca

Media Contact:

Angelina Ritacco
416-218-3320
aritacco@cmhc.ca

Follow CMHC on Twitter @CMHC_ca

Additional data is available upon request.

Source: CMHC
¹ Census Metropolitan Area
² The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR).
Detailed data available upon request

Source: CMHC

Source: CMHC

Article source: http://www.cmhc.ca/en/corp/nero/nere/2015/2015-06-08-0816b.cfm

TREB President’s Column as it appears every Friday in the Toronto Sun’s Resale Homes and Condos section.

June 2, 2015 — If you’re puzzling over whether now is the right time to buy a home, my advice to you is unequivocal: don’t wait. Canada’s economy seems to be on a relatively steady footing and borrowing costs remain very low. Becoming a homeowner isn’t just about buying a house, it’s an investment.

While employment and interest rates should factor chiefly into your decision to buy a home, it’s also important to consider the potential for long-term appreciation of your real estate investment. Torontonians should be proud that we have built a world class city that holds its own in numerous global rankings, measuring such characteristics as quality of life, opportunity and resiliency, to name just a few.

If you have not yet made the transition to a homeowner you may find it a daunting thought, but in fact there’s no need to be discouraged.

Provided that you can produce a down payment equivalent to five per cent of a home’s purchase price, and qualify to receive an insured mortgage through your lender, today’s low interest rates provide for very manageable carrying costs. Of course, coming up with a down payment for an average-priced home may seem difficult, but there are efficient strategies you can employ to make that mark within reach.

As a starting point, try setting aside approximately one per cent of the value of your future home into a tax-free savings account (TFSA). 

Generally permitted to hold similar investments to that of an RRSP, a TFSA allows you to make tax-free withdrawals of your funds at any time. Provided you are at least 18 years-old, a resident of Canada, and have a Social Insurance Number, you can contribute up to $5,500 per year to a TFSA, and your contribution capacity accumulates each year after the age of 18. Because you can invest your money in different ways within a TFSA, you may want to consult with a financial advisor.

If setting aside one per cent a month seems ambitious, simply reduce it to a manageable amount, recognizing that it may take a little longer to reach your goal.

Regardless of the amount you set aside, the key is to stay on track, and to help you do so, you may want to set up an automatic electronic transfer of funds into your TFSA on a regular basis.

Keep in mind as well, that the GTA has a wide range of attractive housing options, you may have to adjust your expectations a bit, but once you become a homeowner, you’ll wonder why you didn’t make the move sooner.  

To learn about the many alternatives available to you, consult a Greater Toronto REALTOR®, and for the latest updates on the market be sure to visit www.TorontoRealEstateBoard.com

June 2, 2015 –
Living in Toronto and renovating homes seem to go hand in hand. One of the major ways we build equity in our homes is by adding a new bathroom, kitchen or family room. Families grow, space must be maximized, and keeping parents close to work and children in their favourite schools often means, “Honey, It is time to renovate…again!”

Buying a fixer-upper can be a great way to get into a desirable neighbourhood at an affordable cost. It’s important to recognize though, that all renovations involve some inconvenience and a lot of elbow grease. While you’re rolling up your sleeves, it’s wise to maximize your efforts, go green, and remember that what may no longer suit your lifestyle, might be of use to someone else.

Renovating Benefits Others as Well!

A great way to renovate while supporting a charitable cause is to consider your local Habitat for Humanity ReStore. This building supply store accepts and resells quality new and used building materials. Funds support Habitat’s building programs while reducing the amount of used materials that are headed for overflowing landfills. Check ReStores online at http://www.habitat.ca/en/community/restores/location.

Regardless of the upgrades you undertake, keep in mind that you can reduce the amount of waste you generate by donating or recycling construction materials. Certainly don’t dismiss the old for the new. If there are items to be reused, refurbishing them can add greater character to your home.

If you are looking for some great tubs and sinks, you may have to go no further than your current bathrooms and kitchens. Techniques for resurfacing, and countertops made of more recent materials like Caesar Stone, recycled glass, concrete, steel, stones, and the myriad of tiles, will give you lots of options for upgrading the look without replacing the whole bathroom or kitchen.

Greening your Renovations!

Energy efficient lighting, appliances, faucets, toilets and showerheads are a few of the options for increasing the green factor in these two essential rooms and you can watch your monthly expenses drop.

When it comes to flooring, cork and bamboo are among the greenest options, as they are derived from renewable resources. While bamboo is also an excellent choice for cabinets, wood that is certified by the Forest Stewardship Council of Canada is another responsible option.

When purchasing windows, look for low-E argon-filled units with the Energy Star symbol to achieve the highest thermal efficiency. Note: if you wonder how old your Thermopane windows are, most are stamped with the year and month they were made on the metal piece between the panes of glass.

Replacing an aging roof may prevent a bigger problem from happening, like water damage. Fortunately, roof shingles made from a variety of recycled materials are widely available, and sometimes the life expectancy of your new roof is worth paying the extra costs. Housing is a long-term investment.

Heating systems and central air conditioning are wise investments for your home for a couple of reasons. Investing in high efficiency doesn’t just benefit the environment, but as a homeowner, you will experience savings for your household when you choose models with the Energy Star symbol.

While decorating choices may be subject to taste, you’ll find that when it’s time to move again, energy efficient, money-saving upgrades have universal appeal. Renovating can be helpful to you, others, and reduce your carbon footprint all at the same time. Enjoy!

For greening, renovating or finding the right home, talk to a Greater Toronto REALTOR®, and visit www.TorontoRealEstateBoard.com for neighbourhood profiles, open house listings, market updates and more.

June 2, 2015 –
Although the Greater Toronto Area REALTOR® community is as diverse as the city itself, we all share a common interest in connecting with others and fostering a decent quality of life in our city. It is no surprise then that thousands of Greater Toronto REALTORS® turned out at two recent events with these aims, which will reap benefits for our city.

On May 6 and 7, the Toronto Real Estate Board (TREB) held its annual REALTOR® QUEST conference, assembling the greatest collection of real estate speakers ever in Canada. To keep your REALTOR® up to date on the latest trends and issues in the profession, 44 different professional development sessions were held, and a range of new products and services were on offer at Canada’s largest real estate trade show, with 252 exhibitors spanning 85,000 square feet of space at the Toronto Congress Centre.

In addition to continuously exploring new ways to better serve you, Greater Toronto REALTORS® came together for an Annual Meeting at the conference where it was decided to continue with support of the Ontario REALTORS Care® Foundation. Through the Foundation, last year alone, TREB Members provided grants totaling $485,410 to 60 different shelter-related charities across the Greater Toronto Area. Organizations like Habitat for Humanity Greater Toronto Area and Ronald McDonald House Toronto received our support, as did countless other organizations that assist various groups in need, such as women in transition, new immigrants, and homeless youth, to name just a few.

Included with the conference’s entertainment quotient was a silent auction, with proceeds being donated to Camp Winston, a charitable organization that provides recreational opportunities in Muskoka to children and teens with neurological conditions such as Autism, Attention Deficit Hyperactivity and Tourette’s Disorder. In addition to giving campers an important sense of belonging with their peers, it helps them build gross motor skills through activities such as kayaking, ropes courses and theatre. It also offers year-round sessions to families and caregivers, counselling them on how to foster their children’s development.

Camp Winston was also the beneficiary of a very successful networking event held April 29 at CUBE in the Queen Street West District. Dubbed TREB FEST, the event brought together more than 300 Greater Toronto REALTORS® for a night of dancing, refreshments and specialty entertainment such as an astrologer, a handwriting analyst, and a henna artist. In total, more than $8,000 was raised to help give Camp Winston kids an unforgettable summer experience. For more information on this very worthwhile organization, visit www.CampWinston.com

These are just a few of the ways that the GTA’s more than 41,000 REALTORS® use their strength in numbers to make ours one of the world’s greatest cities. Each and every one of us cares deeply about the quality of life in our city and about helping you build a prosperous future through home ownership. It is, after all, the only investment that you can live in while it appreciates.
To learn more about the GTA housing market and how a Greater Toronto REALTOR® can help you on a path to a better life, visit www.TorontoRealEstateBoard.com

Paul Etherington is President of the Toronto Real Estate Board, a professional association that represents 40,000 REALTORS® in the Greater Toronto Area.

Follow TREB on www.twitter.com/TREBhome, www.Facebook.com/TorontoRealEstateBoard and www.youtube.com/TREBChannel

Article source: http://www.torontorealestateboard.com/market_news/president_columns/pres_sun_col/index.htm