Housing starts rise 6.1% in February

March 13th, 2010

Financial Post

Home construction rose by a more-than-expected 6.1 per cent to 196,700 units in February, Canada Mortgage and Housing Corp. reported Monday.

That was up from 185,400 units in January and above economists’ forecasts of 190,000 units for February.

“The gain in February housing starts was concentrated in the multiple starts segment, particularly in Toronto,” said CMHC’s chief economist Bob Dugan.

Urban housing starts were up 9% from January to 179,100 units on a seasonally adjusted basis, with multiple units rising 19.1% to 89,900 and single starts increasing 0.5% to 89,200 units.

Ontario recorded a 28.6% gain in February, while Atlantic Canada rose 14.3%, the Prairie region increased 10.8% and British Columbia was up 8%. Meanwhile, Quebec saw housing starts decline 14.1%.

Housing starts in rural areas totalled 17,600 units in February, down from 21,100 the previous month.

Ian Pollick, economics strategist at TD Securities, said February’s gain shows “the new homes market is slowly coming back to life and may finally be benefiting from the resurgence in overall housing market activity.”

“However, we caution that the pace of advance will likely be hard pressed to eke out similar gains later in the year, mainly as a result of enthusiastic buyers attempting to close transactions ahead of the regulatory (new mortgage rules) and (harmonized sales)tax changes coming into effect mid-2010.

“As such, this report likely overstates the true strength of the recovery in new residential housing, though it is safe to say that housing still remains a bright spot in Canadian economic activity.”

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Canada home prices rise 0.4% in January

March 13th, 2010

Financial Post

Canadian home prices rose 0.4% between December and January, the same growth rate for the third consecutive month, according to a Statistics Canada report Thursday.

The index saw the biggest increases in St. John’s at 1.7%, Winnipeg at 0.7%, and Toronto and Oshawa at 0.6%. Ottawa–Gatineau, Saskatoon and Calgary all registered 0.5% increases, according to the federal agency.

The largest monthly decrease in new housing prices was recorded in St. Catharines–Niagara, which fell by 0.4%. Home prices in Charlottetown fell 0.2% and in New Brunswick, Saint John, Fredericton and Moncton each registered a decline of 0.2%.

Nationwide, home prices were up 0.1% on an annual basis in January, compared with a 0.9% decline in December 2009.

“This was the first year-over-year increase since December 2008, mostly as a result of price decreases in Western Canada that were less pronounced this January than in previous months,” Statistics Canada said in the report.

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530 St. Clair Avenue West Condos

March 12th, 2010

The developers behind a highrise condominium project in an old Toronto neighbourhood have gotten in on the ground floor of its rejuvenation.

The 19-storey project at St. Clair Ave. W. and Bathurst St. – called the 530 St. Clair Avenue West Condominiums – sits at the “gateway” to a strip of the city that is slated for a facelift to accompany the refurbished streetcar line that runs through the community, says Larry Blankenstein, president of Lash Development Corp.

His company is working with The Goldman Group to develop the site, on the northwest corner of St. Clair and Bathurst, with construction due to begin in the late summer and occupancy slated for the fall of 2012. Construction is nearly complete on a 23-storey sister tower next door at 500 St. Clair W., and occupancy is expected to start in March.

“We’re on the cusp of revitalizing the whole St. Clair West neighbourhood,” Blankenstein says. “500 is basically the first building. With the establishment of 530, it just adds more credibility to the transition.”

He says the building’s accessibility to public transit is a major selling point for prospective condo buyers, noting residents can make the short walk to the St. Clair West subway station, or hop on the streetcar right outside their door and head east to the Yonge subway line, or west along St. Clair.

But he says there are other selling points, including the diverse mix of restaurants and shops along St. Clair, a major supermarket nearby and the Artscape Wychwood Barns a few blocks south of St. Clair on Christie St. The 60,000-square-foot community centre, which houses artists, assorted non-profit groups, a gallery and the Stop Community Food Centre, once held the TTC’s streetcar repair barns. The centre is surrounded by a new park.

Residents of 530 St. Clair will belong to the private 530 Club, a fitness, recreation and entertainment centre that will occupy the second and third storeys. The building, designed by E.I. Richmond Architects Ltd., includes a choice of one- and two-bedroom units, with or without a den, ranging in size from 576 to 1,327 square feet and priced from $250,000 to $470,000.

The 155 suites feature balconies and terraces, nine- or 10-foot ceilings, laundry facilities and hardwood or laminate flooring in the dining/living areas. The high-end kitchens have stainless steel appliances, granite countertops and a choice of flooring, while the bathrooms are equipped with elongated soaker tubs and frameless glass shower enclosures. Concierge services and indoor parking will be available.

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    St. Clair Avenue West

    March 12th, 2010

    New life for an old strip

    Paula Kulig – Toronto Star

    When Larry Blankenstein talks about St. Clair Ave. W., he sounds like a father watching his child get on a bike for the first time: The ride is a little wobbly initially, with a fall here and a scraped knee there, but progress is steady and the open road beckons.

    For Blankenstein, the tired, old strip of St. Clair west of Bathurst St. is ripe for growth and opportunity. As it turns out, his development company is both a driver of that growth and, along with the community, a beneficiary.

    “We’re in the middle of a transition for this whole neighbourhood and I think the neighbourhood will reap the benefits,” says Blankenstein, president of Lash Development Corp., which, along with The Goldman Group, is building two highrise condominium towers at the northwest corner of St. Clair and Bathurst.

    “People are very happy that we’re developing it and they hope that more developers will come in, because it’s changing the whole face of the neighbourhood.”

    Another thing that has changed the face of the neighbourhood is the new St. Clair streetcar right-of-way, which Blankenstein says is a major reason why the developers chose to locate the condos where they did. But he acknowledges that not everyone has embraced the line, in part because the lengthy project created upheaval in the community.

    “There have been a lot of growing pains because it took longer than expected. But I think it will be the way of the future,” he says, noting that new restaurants and stores have been popping up along the strip.

    The construction of the streetcar line came in for some criticism in January when a study by transportation experts Les Kelman and Richard Soberman was released. The two were hired to provide an overview of the experience on St. Clair W. and suggest ways to prevent similar problems from occurring with Transit City, Toronto’s plan to build light-rail transit on several major routes.

    The consultants noted how the cost of the 6.8-kilometre St. Clair line, from Yonge St. to just west of Weston Rd., ballooned from $48 million in September 2004 to what is expected to be about $106 million when the final section west of Lansdowne Ave. is completed this spring – more than five years after construction began.

    They pointed to four contributing factors: how the scope of the project constantly changed, adding transit upgrades and the burial of hydro lines; a lack of centralization and control; too many small contractors who lacked experience with big projects, hindering efficiency; and a public consultation process that gave too much influence to opponents and, with the involvement of the environment ministry, resulted in a judicial review that brought construction to a halt for eight months.

    “Long after the start of construction, project scope definition continued almost as a ‘moving target,’ contributing, in the process, to cost escalation, schedule delay, and a large number of complaints about community disruption from affected residents and businesses,” the report says. “This is the main reason why the affected community appears so frustrated about just when the ‘pain’ of disruption will actually end and just when ‘gain’ of improved transit will actually begin.”

    Connie Lamanna, the chair of the Corso Italia Business Improvement Area and owner of Ontario Fashion Textiles on St. Clair just east of Lansdowne, says that pain of disruption still isn’t over, even though construction of the streetcar line in front of her shop is complete.

    During construction, she says, “it was terrible. People couldn’t get here. The only reason we’re still standing is we’re just celebrating our 50th anniversary of business on St. Clair, so we have long-standing clientele who still made their way here. But we lost business because it was confusing – communication wasn’t there.”

    Now, she points to a “clutter” of signs and too many street lights at any one corner that only confuse motorists and pedestrians, and streetcars that get backed up on the line when one of them breaks down.

    “One streetcar has a problem, nothing moves. It’s not like a bus that can go around the problem.”

    Lamanna says despite the loss of some businesses, new ones are arriving, and the BIA has been doing what it can to beautify the area with new street lamps and planters. “I think we’ve taken the attitude that we’re going … to make the best of it,” she says. “We’re going to make a go of it, definitely. But the city has not made it easy.”

    Tony Bassels, who owns EXIT Realty Prestige and heads the Wychwood Heights BIA, which includes St. Clair from Bathurst to Christie Sts., says the disruption caused by construction of the streetcar line doesn’t outweigh the good things the line will bring to the area, like new development and businesses.

    “I think that in order for the city to really grow, the most important thing is that we have transit,” says Bassels, who takes the TTC to work from his home at Yonge and Sheppard Ave. almost every day.

    He is just as excited about the St. Clair Avenue Study, which encourages development on the street from Bathurst to Keele Sts. Endorsed by city council late last year, the consultants’ study recommended amending the official plan and a zoning bylaw to bring about the revitalization of St. Clair largely through higher densities. A reliable transit system is tied in with the plan.

    “I think it’s going to encourage development, it’s going to encourage taking down some of these lowrise buildings that really need to be changed,” Bassels says, noting that the neighbourhood has too many thrift and dollar stores and he hopes many of them will go elsewhere. “We don’t need that many. We just need a good mix.”

    St. Paul’s Councillor Joe Mihevc, whose ward includes St. Clair between Spadina Ave. and Winona Dr., says the new streetcar line was a prerequisite to attracting a good mix of development to the street. “Good public transit planning fits hand in glove with good land-use planning.”

    The city’s official plan, he says, “recognizes that people are coming to Toronto in the tens of thousands on an annual basis,” so it’s been decided that major arterial streets, including St. Clair, will see an increase in density.

    Buildings on the south side of St. Clair can now rise to nine storeys, while those on the north can be seven storeys. The previous maximum height was generally five storeys. The plan also allows buildings up to 25 storeys at the major intersection of Bathurst and St. Clair. The condos being built by Lash Development Corp. and The Goldman Group are 19 and 23 storeys. Mihevc says while he can’t reveal details at this point, developers have been expressing an interest in the area. “I’ve been here for 18 years now and no developer has ever come to me saying, ‘I want to do a development on St. Clair.’ Now they’re coming and they’re checking out properties, and (looking at) what’s possible and what’s not possible.

    “So the St. Clair line has obviously spurred the kind of investment that we want.”

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    Artsy area, artsy Queen West condo

    March 11th, 2010

    Lindsay Forsey, National Post

    Artists are notoriously finicky about their living quarters. Open a residential building in a hot creative zone, and you had better consider your audience – ART condos is doing just that.

    Queen West’s vibrant artsy scene, with its one-off galleries, shops and cafés, where the building is going up, is the inspiration behind the new project by Triangle West Developments; the condos will be on Dovercourt Road one block south of Queen Street West.

    Described as a “vertical village,” the terraced, 11-storey mid-rise is a diverse property with 68 different floor plans in just 148 suites. ART units range from 460-square-foot studios suited to singles up to 1,615-sq.-ft. three-bedroom suites comfortable for mom, dad and kids. Ground-floor live/work units can be customized to accommodate each buyer’s need to separate (or not, perhaps) studio and living spaces. Plus, the ground-floor condos will have their own entrances and street addresses, allowing residents to open galleries that will be accessible to passersby. Most of the suites have long uninterrupted walls designed to function as display space for works of art, whether created or purchased.

    “We’ve assembled an extraordinary architecture and design team with people who understand the nuances of Queen West,” says Gary Silverberg, Triangle West president and also an exhibited artist. “Many of the people involved with the project live or work in the area and they have created an environment of well-designed, functional residences that support living in smaller downtown spaces.”

    David Oleson, a principal of Oleson Worland Architects and the lead design architect for ART Condos, lived in the area for many years and designed the Trinity Community Recreation Centre in Bellwoods Park, a few blocks east of ART. “We wanted to preserve the character of the community,” Mr. Oleson says. “The terraces face north and descend toward Queen Street, bringing the building in harmony with neighbouring apartments and homes.”

    Also involved with the project is Hariri Pontarini Architects, the firm that designed Stephen Bulger Gallery and Camera Bar, both located nearby.

    To make the most of the ART space, Mr. Silverberg brought in 3rd Uncle, an interior design outfit with a knack for boutique hotels. The 15-year-old Toronto firm gave Queen West’s Drake Hotel its distinctly cool factor, as well as select rooms at the W Hotel in Hoboken.

    “The project challenged us to make efficient use of space and main livability in the smallest suites and to replicate the comforts of a private home in the larger suites,” says 3rd Uncle principal John Tong. “You can see this in features like movable walls in the studios, high ceilings and the use of built-in appliances and recessed storage.”

    Japanese-style sliding doors in the studio suites move to hide or reveal the bedroom area, a real bonus when unexpected guests drop by. Buyers can also request a custom-designed bed (shown in the model suite), which has convenient fold-down night tables and built-in under-bed storage perfect for a small abode.

    “We also focused on creating functional shared amenities spaces,” Mr. Tong says. “We wanted to make sure there were quiet private areas as well as shared spaces for entertaining, so that people having a cookout don’t encroach on others who just want to relax.”

    ART Condo amenities include a full kitchen and bar on the fifth floor, with a lounge that opens on to an outdoor terrace complete with a barbecue, a hot tub and a fire pit. There’s also a movie theatre, a boardroom and a gym in the building. As an homage to the surrounding arts community that inspired the development, potentially including its own residents, a gallery space in the lobby will show work by local artists.

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