Tag Archives: Renovation
Mystic Pointe by Camrost-Felcorp
by Dan Flomen
Developing a master-planned community takes a great deal of vision. Not only must you picture the project itself, but also the impact that it will have on the surrounding area and the local economy.
In the early 1990s, one could drive along the Gardiner Expressway and see nothing but undeveloped land and decaying buildings when approaching Park Lawn Road in Etobicoke. Sandwiched between the railway tracks and the Gardiner appeared a sales catastrophe waiting to happen.
But then Camrost-Felcorp acquired that land and turned it into a modern community catering to all types of buyers. Mystic Pointe is the result, a new neighbourhood comprised of condominium townhomes, apartments, and lofts.
In the first phase of development on Manitoba Street, Camrost-Felcorp introduced a condominium and townhomes with underground parking, followed by a unique renovation of the McGuiness Distillery. The distillery was converted into modern two-storey lofts.
Using the existing structure, parking was added through the centre of the building. The following phase consisted of a unique concept: adding a second loft structure on top of the converted building. In doing so, Camrost-Felcorp provided a rooftop garden and created an outdoor living environment that is a central meeting place for residents.
Following the success of the previous lofts, a third loft building at the same development was put up backing onto the Gardiner, with a variety of wide and narrow plans. It has a modern New York feel, incorporating a minimalist approach to its lobby and halls.
The most recent addition to Mystic Pointe is The Tides, a building unlike any other in the area. Its soaring glass structure takes the site one step further into the future. Two-storey lofts and single-floor suites make up this dramatic building. The facilities provided at the Camrost Centre for Recreational Arts will rival most fitness clubs and will service not only The Tides, but also Camrost-Felcorp’s future endeavor, iLoft.
The overall effect on this area of Etobicoke was felt immediately. Young professionals, seeking refuge from the congestion of downtown, moved in. The minor commute was insignificant to them compared to the potential upsides: walking trails along the waterfront were now minutes from their homes. Stores and shops along The Queensway started to spring up. An urban community now existed in an area once thought to be dying.
Other developers have now joined in this south Etobicoke revival. With access to major highways at residents’ doorstep combined with all the conveniences of downtown, sales are brisk. Singles, young families, and empty nesters are moving into this thriving area. Unlike many visions that go unrealized, Mystic Pointe continues to grow and blossom.
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Best Practices for Hiring a Contractor
1. Build a Short List
Despite there being tens of thousands of contractors in throughout Canada, it’s surprisingly difficult to find one. Here’s what you can do to build a list of potential candidates.
Neighbours and Fliers
One really great way of finding a contractor is simply by collecting and saving those ads you receive all year from local contractors in your area.
Ask Friends and Family
This is a good first step but you should be a bit wary of references from friends and family – there could be some bias in their referral. More importantly, contractors on larger jobs work in teams and the team that worked on your friend’s renovation may not be the same team that works on yours.
Online Classifieds
Websites like Craigslist and Kijiji are great for buying and selling items locally but remember that contractors can list their businesses there completely anonymously and for free. This should be a last-ditch place to look if you really can’t find someone.
Online Search and Directories
Google and rating and review sites are a great next stop. The thing to watch for here is that a search engine’s ranking is not related to a contractor’s quality. Just because a contractor appears at the top of your search doesn’t mean they’re the best in the city. Check those that do rank high by also searching specifically for their business name. See who has written about them and see who links back to them. If the websites that link back are legitimate – i.e. not just spam sites – it’s a good sign. If they’re linked back from sites that verify their qualifications, it’s an even better sign.
Sites Like uknowa
If searching for contractors doesn’t sound like the way you like to spend the first two weeks of your renovation, sites like ours offer a way of posting a job and having contractors come to you.
2. Check References
Not only will the contractor be coming to your home and interacting with your family, you don’t want them to disappear when they’re in the middle of a finished basement renovation.
Check or ask for a list of the following when interviewing contractors for your project:
Past customers – ask if they were satisfied with the contractor and their employees’ performance, the quality of workmanship, and whether the project was completed on schedule. Also ask if the contractor kept their work area clean and if there were any unpleasant situations that arose during the project.
Building material vendors – most contractors have building supply vendors they favour and you should ask him or her to provide you with a few names. Check that the contractor pays his bills on time.
Canadian Council of Better Business Bureaus –check with the Better Business Bureau for any bad reports on the contractors you’re considering.
3. Check Their License
Hiring an unlicensed contractor might seem like a good way to save a few dollars, but it could cost a bundle if things go wrong. If your home insurance company can prove that you knowingly hired an unlicensed contractor, they may not cover any damage that might be left behind.
Every province and territory in Canada handles licensing differently. If you are planning a kitchen remodel, finished basement renovation, bathroom remodel, or just hiring roofers to install shingles, there’s a pretty good chance that the contractors involved need a license.
Contact your city’s licensing office before signing any written contract.
4. Understand Contractor Insurance
Imagine a scenario where an employee of the roofing contractor you’ve hired has an accident while working on your home. Or the contractor who’s renovating your basement accidently floods the lower level of your home. Who pays for the bills? If your contractor doesn’t have insurance, the answer might be you, or perhaps your homeowner’s insurance policy.
At a minimum, your contractor should have:
Public Liability and Property Damage Insurance – covers damage to your home or property while your project is underway.
Vehicle Insurance – most accidents involving contractor vehicles on your personal property should be covered by the contractor’s liability insurance policy.
Workers’ Compensation Insurance – helps with medical costs caused by jobsite accidents and can also provide some income for the worker while they’re recuperating.
5. Create a Contract
It just takes one bad experience to make you wish there had been a written contract for the job.
What Your Contract Should Include The complexity of your contract is normally determined by the size of your project. The following items should be covered within the contract:
* Blueprints or project drawings with the latest revision date
* Site plans and permits if the project is a separate building or home addition
* Warranty information
An in-depth description of the scope of work including a list of any special fixtures or appliances agreed upon. This description can be the original estimate for the project if it’s detailed enough and all parties agree to include it as an addendum.
Where To Find Contract Templates
One of the easiest places to access contract documents for your project is the Canada Mortgage and Housing Corporation at the Government of Canada website : CMHC Sample Home Renovation Contract
A few books you may find helpful for setting up your contract:
Ready, Set, Build: A Consumers’ Guide to Home Improvement Planning & Contracts by Steve Gonzalez
The Homeowners Guide to Managing a Renovation: Tough-as-Nails Tactics for Getting the Most for your Money by Susan E. Solakian
uknowa.com is the online matching engine that easily connects homeowners with qualified and available local contractors. Like word-of-mouth on steroids, uknowa allows homeowners throughout Ontario to post their renovation and repair jobs for vetted, interested and available local contractors and receive multiple bids within 24 hours, allowing them to easily compare prices and be confident they are paying the right price for their job. uknowa.com is the answer to the question we all ask our friends when we need to hire someone to do a job: ‘Do uknowa’ good contractor?’
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Contact the Jeffrey Team for more information – 416-388-1960
Laurin & Natalie Jeffrey are Toronto Realtors with Century 21 Regal Realty.
They did not write these articles, they just reproduce them here for people
who are interested in Toronto real estate. They do not work for any builders.
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Housing evolution driving average price appreciation in Canada’s major centres
Since 2000, the value of a Canadian home has doubled
Canoe
Record investment dollars poured into Canadian housing stock over past decade
Billions spent in new construction, renovation, and infill over the past decade have contributed to a serious upswing in the calibre of Canada’s housing stock, propping up residential average price in the country’s major centres, according to a report released today by RE/MAX.
Since 2000, the value of Canadian real estate has doubled, rising from $163,951 to $339,030 in 2010. Nowhere has the upswing been better captured than in both the value of residential building permits issued nationally between 2000 and 2010—at $340 billion—and the estimated $450 billion spent in renovation. The impact of these two forces alone has fuelled the Canadian residential real estate market – as well as the construction industry—for more than 10 years.
As a result, investment in Canada’s housing stock is at an all-time high in the 16 Canadian residential real estate markets examined in the RE/MAX Housing Evolution Report. Higher quality housing translated into extraordinary price appreciation across the country—with 62% (10 markets) experiencing increases in excess of 100% since 2000.
“While a number of external variables were also behind the exceptional gains, revitalization—amid an aging housing stock—and newer construction are largely underestimated factors supporting Canadian housing values. The trend is expected to continue for years to come as investment in residential real estate through renovation, infill, and redevelopment ramps up across the country. City planners, builders, developers, and homeowners have only just begun.
The report found that the unprecedented sum funneled into housing has effectively changed the landscape of Canada’s major centres. New home construction has advanced suburban sprawl, giving rise to new sought-after pockets in virtually every centre across the board.
Infill continues to redefine neighbourhoods, particularly in areas where the value of existing structures have not kept pace with escalating land values. The trend was evident in all centres, but had the greatest impact in large metropolitan cities such as Toronto and Vancouver. Bungalows on large lots are prime targets, making way for custom builds that transform working-class subdivisions of yesteryear into up-and-coming upper-end pockets. Infill is also maximizing land potential, often replacing one, two or several tired structures with a block of townhomes or mixed-use residential, even high-rise apartments.
Renovation has also had a tremendous impact on housing throughout the decade, so much so that it’s emerged as, arguably, Canada’s next national past time. Residential renovation spending has been gaining momentum year-over-year since the early part of the decade and now exceeds $60 billion annually.
The trend has not been limited to single-family homes—although that activity has been nothing short of remarkable. Canada’s cities have also mounted ambitious renewal of their own, particularly in the heart of most major centres—the urban core. Strategic smart growth plans are altering cityscapes, challenging our concepts and perceptions—including our purchasing patterns—and creating partnerships that are working to escalate our markets to world-class status. Non-residential construction, including infrastructure spending has had a positive secondary impact, in turn boosting spending on the residential side.
Toronto, for example, has become the largest condominium market in North America.
The past decade has also marked the rise of the condominium—moreover, its undeniable acceptance as an attractive option as opposed to a secondary compromise. Toronto, for example, has become the largest condominium market in North America. Yet, it isn’t just gaining traction in large centres like Toronto, Ottawa and Vancouver, but also in smaller cities such as Kelowna, London and Halifax—to name a few. Running the gamut from entry-level units to upscale, luxury suites, condominiums have gained widespread appeal with aging boomers, looking for lifestyle and low maintenance; young professionals, attracted to trendy locales; and first-time buyers, looking to get their foot in the door to homeownership.
Condominiums have changed the urban landscape, driving residential neighbourhoods up, instead of out, and bringing to market a bevy of new options from mixed-use residential, live-work studios, lofts, townhomes, and condo bungalows. Townhomes, in particular, have experienced a serious rise in popularity, bridging the gap for empty-nesters and retirees not yet ready for apartment-style living.
With construction of rental product few and far between in many Canadian centres, it’s no surprise that investors have also been particularly active in the condominium market, especially in college/university towns or where vacancy rates remain tight.
Redevelopment holds the greatest potential for cities on the cusp of exciting rejuvenation. While former brownfields can present challenges, many have opened up and revitalized entire areas. The Barrel Yards Development in Kitchener-Waterloo, for example, is expected to change stagnant industrial land into a bustling residential, commercial and retail hub. Past successful transformations include Garrison Woods in Calgary, the Hamilton Beaches in Hamilton and Bishop’s Landing in Halifax, with countless projects planned nationwide in the years to come. Conversions also continue to breathe new life into existing structures with good bones, while supporting the move to higher-density and the introduction of affordable options.
Greater sustainability overall, keeping the urban lifestyle attainable, livable and attractive at all price points, depends on redevelopment.
Lastly, population growth has been a key factor making housing evolution possible. Since 2000, Canada’s population has experienced double-digit growth of 11%. By 2031, over 42 million people are expected to call Canada home.
There’s no question that population growth will continue to support investment, propping revitalization and new construction in the years ahead, and by extension raising the bar and prices in real estate markets even further.
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Contact the Jeffrey Team for more information – 416-388-1960
Laurin & Natalie Jeffrey are Toronto Realtors with Century 21 Regal Realty.
They did not write these articles, they just reproduce them here for people
who are interested in Toronto real estate. They do not work for any builders.
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