Tag Archives: 38th BILD Awards

Toronto City Hall

City of Toronto councillors’ decision ‘irresponsible,’ will worsen housing affordability and supply problems

Latest News


City of Toronto councillors’ decision ‘irresponsible,’ will worsen housing affordability and supply problems

Toronto City Hall

The Building Industry and Land Development Association (BILD) is outraged by the announcement made today by City of Toronto councillors Joe Cressy, Mike Layton and Kristyn Wong-Tam. The trio said they would red light any development that supports council approved TO Core Plan, ignoring the direction given by the Minister of Municipal Affairs and Housing’s approved plans. These actions are a clear example of political interference that slows the development of new housing and increase costs.

Blatant disregard

“This blatant disregard of provincial policy is the opposite of a housing strategy, in fact it’s an anti-housing strategy,” says Dave Wilkes, president and CEO of BILD. “The net impact will add cost to the City, add cost to new home purchasers, increase the delays of much needed livable housing close to transit and lengthen approvals times as challenges and appeals are undertaken to ensure that the law is respected,” adds Wilkes.

It was the City of Toronto’s decision to file the Official Plan Amendment for TO Core with the province under Section 26 of the Planning Act. This rarely used mechanism requires ministerial approval and is non-appealable. Disliking the results of this decision, the councillor’s statements to developers that they will de-prioritize projects that are in accordance with the Minister of Municipal Affairs and Housing’s decision and not the City’s version of the plan is like asking them to take sides in schoolyard spat. Councillors Cressy, Layton and Wong-Tam are disregarding the planning process, abdicating their responsibility and adopting planning by threat.

“The decisions to amend the official plans just prior to the last election was politically motivated and went against the recommendations of the City’s own planning staff,” says Wilkes.

Desperate need

“More housing is desperately needed to accommodate growth in the region. It makes sense for this type of housing to be built in places that can leverage existing investments in infrastructure and be transit supportive. We are calling on Toronto City Council to take the necessary steps to address housing supply and affordability in Toronto.”

The provincial government rightly recognizes that changes are desperately needed to provide adequate and affordable housing to a growing province. More than 115,000 new residents are expected in the GTA every year through 2041 and the population is set to grow by 40 per cent. Meeting this generation challenge will require policies that enable housing supply and affordability, not illegal actions that add cost, delays and restrict supply.

BILD is the voice of the home building, land development and professional renovation industry in the GTA. With more than 1,500 member companies, the industry provides $33 billion in investment value and employs 271,000 people in the region.

TREB reminder

The Toronto Real Estate Board is also concerned about the councillors’ decision.

“With some City of Toronto councillors announcing plans that could add obstacles to the creation of new housing supply in their wards, TREB is reminding all levels of government that housing supply is one of the most important issues in Toronto and the GTA, and is encouraging cooperation between governments,” the organization says. “TREB has been at the forefront in calling for governments to do what they can to ensure an adequate, appropriate and affordable supply of housing for the Toronto and GTA real estate markets.

“This is an issue that will require both provincial and municipal government efforts and policy initiatives from various perspectives, including minimizing unnecessary red tape, while maintaining the high quality of life that makes Toronto and the GTA such a desirable place to live, work, and play.  TREB is encouraging provincial and municipal decision makers to work cooperatively to make the interests of homebuyers their first priority.”

RELATED READING

Development in the GTA

GTA builders launch public awareness campaign

 

SHARE  

Featured Products


Great Gulf, Homebuilder of the Year, Lowrise

GTA’s top homebuilders and projects honoured at 39th Annual BILD Awards

Latest News


GTA’s top homebuilders and projects honoured at 39th Annual BILD Awards

Great Gulf, BILD Awards Homebuilder of the Year, Lowrise
Great Gulf, BILD Awards Homebuilder of the Year, Lowrise

Great Gulf and Tridel were among the big winners at the recent 39th Annual BILD Awards, as the Building Industry and Land Development Association (BILD) recognized the top builders and developers, projects and marketing initiatives in the industry.

Builders of the Year

Great Gulf earned the distinction of Lowrise Builder of the Year, while Tridel won for Mid/Highrise Builder of the Year.

Tridel, BILD Awards Homebuilder of the Year, Highrise
Tridel, BILD Awards Homebuilder of the Year, Highrise

The awards honour achievements in planning, design, sales, marketing and city building in 40 categories. A group of 41 expert judges from across North America determined the winners from 850 submitted entries.

Lifetime Achievement Award

Edward Sorbara, principal with the Sorbara Group of Companies, was presented with BILD’s Lifetime Achievement Award, recognizing his 52 years of leadership in the building and land development industry.

Edward Sorbara, right, principal with the Sorbara Group of Companies, is presented with BILD’s Lifetime Achievement Award by BILD President David Wilkes
Edward Sorbara, right, principal with the Sorbara Group of Companies, is presented with BILD’s Lifetime Achievement Award by BILD President David Wilkes

Stephen Dupuis Humanitarian Award

Tridel also took home the Stephen Dupuis Humanitarian Award for the company’s unique approach to corporate social responsibility. The founding families and every Tridel employee takes pride in the fact that the Tridel brand is synonymous with integrity, quality, customer service, innovation and sustainability.

People’s Choice Award

The coveted People’s Choice Award, determined by members of the public through online voting, was awarded to Aoyuan International for its M2M development. Aoyuan’s vision for M2M is a condominium community that supports and encourages a healthy urban lifestyle, while providing living options that make it easy for families to raise children in the city. The master plan includes more than 1,500 new residences, a community centre and a daycare.

“The People’s Choice Award is a unique honour because it is the public that decides the winner,” says BILD President and CEO Dave Wilkes. “Over 5,200 people cast votes for projects that competed for the best in city building. These projects demonstrate how the industry is providing a wide range of housing options for home buyers in GTA.”

Best New Planned Community

Lakeview Community Partners Ltd. won Best New Planned Community for Lakeview Village. Lakeview Village reconnects the community through a diverse mix of build forms for different uses, including residential, cultural, institutional, commercial and retail. Lakeview will repurpose brownfield land that was once home to the Ontario Power Generation Station in Mississauga.

Lowrise Project of the Year

The Lowrise Project of the Year went to Treasure Hill Home Corp. for its Charbonnel development near De La Salle College in Toronto, while Urban Capital Property Group, M3 Condos, in Mississauga was selected as the Mid/Highrise Project of the Year.

Best Highrise Building Design

Best Highrise Building Design went to Lanterra Developments for 50 Scollard. The project boasts contemporary architecture from Norman Foster and interiors by Toronto-based Italian designer, Alessandro Munge, and an incomparable location in the heart of Yorkville.

Best Midrise Building Design

Alterra Group of Companies and Graywood Developments Ltd. won the award for Best Midrise Building Design for Wonder Condos. Wonder is one of the last of its kind in Toronto, a landmark address that will house heritage lofts, condos and townhouses. Wonder is built on the site of the former Weston Bakery on Eastern Avenue.

Best Overall Marketing Campaign

The award for Best Overall Marketing Campaign went to the team of Empire Communities and Pureblink for their campaign for Empire Phoenix.

For a complete list of award recipients, visit bildawards.com.

RELATED READING

BILD names finalists for 39th annual BILD Awards

GTA’s top builders and projects honoured at annual BILD Awards

 

SHARE  

Featured Products


GTA waterfront homes

Budget 2019 comes up short

Latest News


Budget 2019 comes up short

GTA waterfront homes

The federal government released the much-anticipated Budget 2019 this week, with homebuyers, builders and others awaiting measures to address housing issues.

And in short, it comes up, well… a little short.

First-time homebuyer help

Much of the housing focus in Budget 2019 was on addressing the needs of first-timers, namely with a new First-Time Home Buyer Incentive.

  • The Incentive would allow eligible first-time homebuyers who have the minimum down payment for an insured mortgage to apply to finance a portion of their home purchase through a shared equity mortgage with Canada Mortgage and Housing Corp. (CMHC).
  • About 100,000 first-time buyers would benefit from the Incentive over the next three years.
  • Since no ongoing payments would be required with the Incentive, Canadian families would have lower monthly mortgage payments. For example, if a borrower purchases a new $400,000 home with a five-per-cent down payment and a 10-per-cent CMHC shared equity mortgage ($40,000), the borrower’s total mortgage size would be reduced from $380,000 to $340,000, reducing the borrower’s monthly mortgage costs by as much as $228 per month.
  • CMHC to offer qualified first-time homebuyers a 10-per-cent shared equity mortgage for a newly constructed home or a five-per-cent shared equity mortgage for an existing home. This larger shared equity mortgage for newly constructed homes could help encourage the home construction needed to address some of the housing supply shortages in Canada, particularly in the largest cities.
  • The First-Time Home Buyer Incentive would include eligibility criteria to ensure that the program helps those with legitimate needs, while ensuring that participants are able to afford the homes they purchase. The Incentive would be available to first-time buyers with household incomes of less than $120,000 per year.
  • Budget 2019 also proposes to increase the Home Buyers’ Plan withdrawal limit from $25,000 to $35,000, providing first-time buyers with greater access to their Registered Retirement Savings Plan savings to buy a home.

Noticeably absent from the housing measures was any adjustment to the stress test, which a number of experts say is necessary.

Industry reaction

“The Building Industry and Land Development Association (BILD) agrees with (Federal Finance Minister Bill Morneau’s) comments that there aren’t enough homes for people to buy or apartments for people to rent,” says Dave Wilkes, president and CEO.

“BILD feels the policies presented in (the) budget are a step in the right direction to help first-time homebuyers. We will continue to advocate for a review of the stress test so that first-time homebuyers can realize the dream of homeownership. Supply challenges still exist and are at the centre of the current unbalanced market, and we call for action on these by the provincial and municipal government.”

Supply challenges in the Greater Golden Horseshoe are serious, and Budget 19 fails to address them.

“This was a re-election budget that didn’t move the dial for new-home buyers in the GTA,” Richard Lyall, president of the Residential Construction Council of Ontario (RESCON) told HOMES Publishing. “While increasing RRSP borrowing for first-time homebuyers is helpful, creating The First-Time Homebuyer Incentive at a maximum of $500,000 doesn’t help many Torontonians or GTA residents.”

The Canadian Home Builders’ Association (CHBA) had been recommending a shared appreciation mortgage approach for some time, as a tool to help those who can’t get into homeownership but have the means to pay rent.

The modification to the RRSP Home Buyers’ Plan will help get Canadians into their first home, but will also act as a burden because the loan has to be repaid within 15 years, including a minimum of 1/15th per year.

“This means that, in the years following their home purchase, a homeowner has the additional financial responsibility of repaying their RRSP,” says James Laird, co-founder of Ratehub Inc. and president of CanWise Financial.

Important details of the First-Time Home Buyer Incentive program have yet to be released. For example, says Laird, it remains unclear whether the government would take an equity position in homes, or whether the assistance would act as an interest-free loan.

“This is an important distinction because if the government is taking an equity stake in a home, the amount the homeowner would have to pay back would grow as the value of the home increases,” he says.

The very launch of the program is surprising, Laird says, given that the BC Government implemented a similar measure a couple years ago, with unsuccessful results, and it was terminated in 2018. First-time home buyers found it difficult to understand and unappealing to have the government co-own their home.

Let’s do the math

Under existing qualifying criteria, including the stress test, homebuyers can qualify for a house that is 4.5 to 4.7 times their household income.

Under the new First-Time Home Buyer Incentive, however, the government has set a purchase limit of four times household income for the mortgage, plus the amount provided by the government, according to Ratehub.

By participating in this program, first-time homebuyers effectively reduce the amount they can qualify for by about 15 per cent, and their monthly mortgage payment naturally decreases in lockstep.

A household with $100,000 of income, putting a minimum down payment of five per cent, can currently qualify for a home valued at $479,888 with a $2,265.75 monthly mortgage payment.

Affordability calculations

The maximum purchase price for the same household, if they participate in the first-time homebuyer incentive, drops to $404,858.29 with a five-per-cent minimum down payment. The total mortgage amount would then be $400,000 (or four times their household income).

Mortgage payment calculations

If the household took a five-per-cent incentive from the government (for resales), their mortgage amount goes to $378,947.37, and monthly payment is now $1,810.90.

If the household took a 10-per-cent incentive, (for new homes) their mortgage amount goes to $357,894.73, and  monthly payment is now $1,710.29.

Stress test modifications

The CHBA is among the industry groups that is pushing for modifications to the existing mortgage stress test, which has served to lock out too many well-qualified Canadians due to the market and interest rate changes of the past year.

“The First-Time Home Buyer Incentive, if coupled with immediate adjustments to the stress test, has the potential for getting the housing continuum functioning again,” says CHBA CEO Kevin Lee. “It is essential that these changes come quickly, though. Current restrictions on mortgage access mean that many millennials and new Canadians are seeing homeownership slipping away, and in many markets the economic impacts are substantial.”

Looking ahead to the 2019 federal election, CHBA will be encouraging all federal parties to address housing affordability in very meaningful ways in their respective platform documents.

Budget 2019 housing measures

Budget 2019

 

 

SHARE  

Featured Products


GTA’s top builders and projects honoured at annual BILD Awards

GTA’s top builders and projects honoured at annual BILD Awards

Latest News


GTA’s top builders and projects honoured at annual BILD Awards

Mattamy and Great Gulf named as GTA Homebuilders of the Year, Hugh Heron wins Lifetime Achievement Award.

The GTA’s home building and land development industry recognized its top builders, projects and marketing initiatives at the 38th annual BILD Awards on Friday, May 4, 2018.

More than 1,300 industry professionals attended the event, which honoured achievements in planning, design, sales, marketing and city building in 51 categories. A group of 30 expert judges from across North America determined the winners from more than 900 submitted entries.

A highlight of the evening was the presentation of BILD’s Lifetime Achievement Award to Hugh Heron, principal and co-founder of Heron Homes. This recognition is the association’s highest honour and was presented to Heron for his 50 years of leadership in the building and land development industry.

HOMEBUILDERS OF THE YEAR

Taking home the night’s most prestigious awards for Homebuilders of the Year were Mattamy Homes for Lowrise and Great Gulf for Mid/Highrise.

The Homebuilder of the Year titles recognize the builders who set the standard for the rest of the industry through their professionalism and dedication to excellence.

The winners are leaders committed to quality, caring for their customers and contribution to their community. A key component of the judging process is a customer satisfaction survey completed by the builders’ purchasers.

The Great Gulf Group has been in business for over 40 years and includes Great Gulf, Ashton Woods, First Gulf, H+ME Technology, and Tucker HiRise. It has grown into one of North America’s premier real estate organizations. They have built their reputation by continually seeking to marry design, technology and experience in exciting new ways.

Mattamy Homes is the largest privately owned homebuilder in North America with a nearly 40-year history of operations across the United States and Canada. The company started in 1978, building one home in Burlington. Today they have over 90,000 homeowners in hundreds of master-planned communities. Mattamy is continually in touch with each homeowner from the first touchpoint at their sales centre, to when a purchaser moves in, to long after they have settled into their new home.

Hugh Heron
Hugh Heron

LIFETIME ACHIEVEMENT AWARD

For the past 50 years, Hugh Heron has been a “builder” in every sense of the word in the province of Ontario. Today, he is one of the most active and influential professionals in the new home industry, as well as an avid media spokesperson for the building and land development industry in the GTA.

In 1967, Heron came to Canada and got his first job with Costain, a company that he had worked for in Scotland. In 1979, Hugh went off on his own to co-found Heron Homes with a group that he is still in business with today. Heron’s building entities has gone on to build over 8,000 homes in 50 communities across Ontario and has built over 1,000,000 square feet of commercial and retail space.

“For 50 years Hugh has given back to the industry that gave so much to him and his family,” said Wilkes. “He has served in leadership positions at some of the industry’s most important institutions, including chair of the Ontario New Home Warranty Program, past president of both the Greater Toronto and Ontario Home Builders’ Associations, and former senior board member of Canada Mortgage & Housing Corporation (CMHC).”

Heron is also well known for his community and charity work, establishing the Mikey Network in memory of Michael Salem, a partner at Herity who died of cardiac arrest on a golf course in June 2002. The Mikey Network helps place Mikeys (public access defibrillators) in schools, workplaces and public access areas across Canada. These defibrillators have been used to save 39 lives to date and many more to come.

“Hugh Heron’s goal has always been to make the new homebuyer feel comfortable during the building process,” said Wilkes. “Hugh has always made the journey of new homeownership a positive experience. When someone buys a home from Hugh and moves in, he makes sure they feel ‘Home at Last,’ ”’ said Wilkes with a smile.

TOP AWARDS

The People’s Choice Award, determined by members of the public through online voting, was awarded to CentreCourt Developments and SmartCentres for their Transit City development in Vaughan.

“People’s Choice is a unique award because it is the public that decide the winner,” said BILD president and CEO Dave Wilkes. “Nearly 6,000 people voted for projects that competed for the best in city building that demonstrated how the industry is providing a wide range of housing options for GTA homebuyers.”

For community building, BILD has two categories for outstanding projects that embody the province’s smart growth principles: Best New Community (Planned/Under Development) for a project currently planned or under construction; and Best New Community (Built) which recognizes a completed project.

The Daniels Corporation won Best New Community (Planned/Under Development) for Lighthouse Tower East, located at Lower Jarvis Street and Queens Quay East. For its work on Harbour Plaza and One York, Menkes Development won the award for Best New Community (Built).

The Berkley by Arista Homes took home the award for Best Innovative Home Design, which recognizes cutting-edge design in lowrise homes that increase buying choices for entry-level consumers.

Best Innovative Suite Design went to Collecdev’s Unit E8, a two-bedroom, two-bathroom unit that maximizes living space.

Curated Properties and Windmill Developments won the award for the Best Midrise Building Design for The Plant, which seeks to bring new standards of sustainability and urban agriculture to Queen West.

For their outstanding leadership in the implementation of green building practices, Dunshire Developments was named Green Builder of the Year, Lowise, and Tridel was named Green Builder of Year, Mid/Highrise.

The Project of the Year, Lowrise title went to TACC Developments, Arista Homes Limited, DECO Homes, Fieldgate Homes and OPUS Homes for their Richlands development in Richmond Hill, while Curated Properties and Windmill Developments’ The Plant was selected as the Mid/Highrise Project of the Year.

The award for Best Overall Marketing Campaign went to the team of Graywood Developments and Community for their campaign for Peter & Adelaide.

The Stephen Dupuis Humanitarian Award was given to The Daniels Corporation and the Riley Brethour Leadership Award was given to Andrea DeGasperis-Ronco of OPUS Homes.

For a full list of winners, go to bildawards.ca.


SHARE  

Featured Products