If residents of the Greater Toronto Area (GTA) are dropping money on real estate in the region, it’s not on new homes. According to the Building Industry and Land Development Association (BILD), the GTA, March represented yet another month of record-breaking low sales for new homes. This continues the trend we’ve seen in the “very slow” start to the year; the first three months of the year have set record lows for new home sales across the region, says BILD. There were 1,125 new home sales in March, which was down 16% from March 2023 and 66% below the 10-year average, according to Altus Grou ..read more

After much delay, the provincial government finally announced the second group of municipalities that will be receiving housing targets on Tuesday. This second cohort consists of: Central Saanich; Chilliwack; Colwood; Esquimalt; Kelowna; City of Langley; Maple Ridge; Mission; Nanaimo; New Westminster; North Cowichan; North Saanich; City of North Vancouver; Port Coquitlam; Prince George; Sidney; Surrey; View Royal; West Kelowna; and White Rock. The Province did not announce the actual targets, saying that the targets will be announced this summer. The announcement of this second group comes ..read more

Each year, families from near and far flock to Muskoka for a taste of the great outdoors. For those seeking to call a (sprawling) piece of cottage country all their own, newly listed 1161 Stephen Road encapsulates the best of what the region has to offer. Nestled along the shores of Arthulie Bay in South Lake Rosseau, this expansive family compound spans 10 acres of lush, green land, with direct lake access and a private dock. This spacious abode offers its future buyer a chance to enjoy lake life at its absolute finest. With nearly 10,000 sq. ft. of combined living space, there’s room here ..read more

The presale market is something that's inherently tied to the future. For buyers, what you're getting is not a home that you can move in to tomorrow, but rather the right to buy the home in several years. For developers, how they operate and navigate the market is oftentimes a reflection of how they see the future — the sentiment of the local market, the direction the overall economy is heading, the cities that are on the rise. READ: BC Spring Market Forecast: Wave Of High-Profile Presale Launches Rising In Surrey City Centre This year, perhaps more so than in previous years, the relations ..read more

From students to newcomers to urbanites who crave the city life (but, understandly, can't bear the city’s price), Toronto is packed with renters, there’s really no way around it. But the more rental housing the city has, the more important it becomes to regulate it. It seems that fact is not lost on City Council. Last week, Council approved a series of “updates” to the inaugural RentSafeTO program, and among those were new rules for city inspections, a more hands-on system for tenant complaints, and increased fees for non-compliance — but more on those later. Just to recap: RentSafeTO has be ..read more

David Podmore, the Co-Founder, former-CEO, and current Chair of the Board of Directors for Concert Properties, is retiring, the company announced on Tuesday. "I am confident that now is the time to step aside and entrust the company's continued success to our highly qualified and knowledgeable Board of Directors, and the experienced leadership team led by Christine," said Podmore, referring to President and CEO Christine Bergeron. Podmore's retirement was to be expected, after Concert Properties announced, almost exactly a year ago to the day, then-CEO of Vancity as the company's next Presid ..read more

A pioneer of Queen Street West’s early 2000s revival, Callum MacLachlan is among the most diverse real estate veterans you could meet in Toronto today. Now, the established industry insider is seeking to bring his creativity — paired with his strong sense of industry connection — even further than he has before, with the aim to disrupt real estate brokerage and development. Meet MacLachlan: Where He’s Been MacLachlan’s storied career has seen him spearhead Queen Street West’s early 2000s revival, The Beaconsfield, and 64 Steps Contemporary Art gallery, and build homes in Summerhill, win Gemi ..read more

Toronto was already moving in the direction of Manhattan pre-pandemic, something that was reflected in everything from sky-high rents and the shoebox condo craze, to a shift away from a prioritization of the car. Then, once the pandemic rolled in to drive the city’s home prices to new heights and render remote work an everyday reality, countless Toronto residents set their sights on regions outside of the city core. Not only do homes in smaller cities outside of downtown Toronto typically offer more space for less money, the city lights can be just a simple GO Train ride away from coveted pl ..read more

Editor’s Note: This article has been updated to correct an error in its original headline. The Omicron business owned by Nexii is being sold, not the entirety of the Nexii business. Four months after filing for creditor protection under the Companies' Creditors Arrangement Act (CCAA) in January, a buyer has now been found for a portion of Nexii Building Solutions' business, subject to approval from the Supreme Court of British Columbia. Nexii Building Solutions — a green construction products company whose crown jewel is a proprietary low-carbon concrete alternative called "Nexiite" — sought ..read more

As anyone who lives in Toronto (or has tried to) will likely know all too well, housing is scarce in Toronto, and affordable housing is scarcer still. As such, a new ‘Housing Now’ project slated for 2438, 2444, and 2450 Eglinton Avenue East in Scarborough is timely and poised to mark quite a milestone for affordable housing for the city — and for the province as well. According to a proposal that has been prepared in cooperation with the City (the site owner) and CreateTO (the City’s dedicated housing agency), the Eglinton Avenue lot is due for three new towers, including a 31-storey buildin ..read more