Sign Up | Archives April 25, 2017
Deconstructing Ontario’s Fair Housing Plan
In an effort to help increase the province’s supply of affordable housing and protect renters from what many are calling exorbitant rent hikes, the Ontario Government has announced a comprehensive package of measures, including: bringing in a 15 per cent foreign buyer tax; expanding rent control to include post-1991 buildings; allowing Toronto to impose a tax on vacant homes; and using surplus lands for affordable housing.
CVA-related tax increases still levied unevenly
More than 9,200 commercial, industrial and multi-residential properties in Toronto are still officially overtaxed nearly 20 years after interim measures were introduced to ease tax shifts related to Ontario’s 1998 adoption of current value assessment (CVA).
RioCan and Killam form joint venture in Ottawa
RioCan Real Estate Investment Trust and Killam Apartment Real Estate Investment Trust announced the formation of a joint venture to develop a rental residential community at Gloucester City Centre in Ottawa, Ontario.
New Construction Financing
New rental construction is a hot topic these days with the media hyping apartment builds as the “big thing” in Canada. While there are some people realizing great returns from new rental construction, the headlines don’t necessarily tell the whole story.
Optional property tax class set to be mandatory
Though expressed somewhat vaguely, the provincial government’s newly announced plan to boost housing supply and affordability forewarns that all municipalities will be required to adopt the new multi-residential property class and align it with the tax rate applied to residential properties.
Ontario’s Fair Housing Plan aims to stabilize market
Ontario is introducing a Fair Housing Plan, comprised of 16 measures, in an effort to make housing more affordable for homebuyers and renters and bring stability to the province’s real estate market.
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Meeting held on GTA housing affordability
Federal Finance Minister Bill Morneau, Ontario Finance Minister Charles Sousa and Toronto Mayor John Tory convened on April 18 to discuss their shared concern over housing affordability in the GTA.
Starlight purchases new Hamilton luxury rental
Starlight Investments announced it has completed the forward purchase of a Hamilton luxury rental property located at 140 Main Street West.
Multifamily cap rates drop as home prices soar
Cap rates continued to fall to unprecedented lows for multifamily properties in the first quarter of 2017. CBRE analysts suggest rising homes prices in Canada’s major markets are a contributing factor, as investors see continued opportunities in the rental housing sector.

CRE subpar for women in C-suites and on boards
The presence of women in C-suites and boardrooms of the Canadian real estate industry appears even rarer than their already modest profile in the broader economy.
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