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Mattamy's Saturday in Downsview Park Phase 2

Register now for Mattamy’s Saturday in Downsview Park Phase 2

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Register now for Mattamy’s Saturday in Downsview Park Phase 2

The idea of living in a beautiful condominium in a park setting is proving irresistible to savvy buyers in Toronto. The first building at Saturday in Downsview Park has sold quickly and renowned builder Mattamy Homes will soon release Phase 2 in this spectacular neighbourhood. The new building is also located right in the park and will feature many of the suite designs popular in the first condominium, plus an array of new layout options, including spacious suites overlooking the park. Suite styles range from one- to three-bedroom in sizes from 501 up to 962 sq. ft. A limited collection of townhomes from 1,324 to 1,535 sq. ft. will also be offered. Register for Phase 2 today, pricing will start from the $400,000s.

Downsview Park is situated at the geographic centre of the Greater Toronto Area, making its location a major draw for new residents. The 291-acre park offers extensive indoor and outdoor activities, community events, concerts, sports league play, picnic opportunities, educational programs, a four-km circuit path and a weekend Merchants Market with more than 500 vendors. People of all ages will discover there is always something interesting to do at Downsview Park. This established neighbourhood at Keele Street and Sheppard Avenue is served by Downsview Park GO and TTC station, and is only 20 minutes to downtown. There’s also a link with the Barrie GO Transit line and it’s only three stops to Yorkdale, and York University. The location truly is at the centre of it all!

Saturday in Downsview Park‘s two buildings are connected and will share outstanding amenities. Life here will include numerous and varied opportunities to socialize, exercise, entertain and relax. The two-storey main lobby features large windows to take advantage of the surrounding green area, as well as study niches, a co-working space, rock garden, communal bar and 24/7 concierge service. Residents will also appreciate a convenient kids’ play room with arts and crafts stations, a room to reserve for parties, and a connection to the Park.

Perfect for entertaining a crowd, there is also a multi-purpose space with a grand kitchen, bar, dining and lounge areas connecting to an outdoor patio with a barbecue station. The fitness zone provides areas for cardio workouts, circuit training, free-weights, spinning, yoga and boxing, as well as functional training. Mattamy has also thought of pet-lovers and included a convenient dog wash area.

About Mattamy Homes

Mattamy Homes is the largest privately owned homebuilder in North America, with a 40-year history of operations across the United States and Canada. Every year, Mattamy helps 7,000 families realize their dream of home ownership. In the United States, the company is represented in 10 markets – Charlotte, Raleigh, Phoenix, Tucson, Jacksonville, Orlando (where its US head office is located), Tampa, Sarasota, Naples and Southeast Florida – and in Canada, its communities stretch across the Greater Toronto Area, as well as in Ottawa, Calgary and Edmonton.

Register today for Saturday in Downsview Park Phase 2. This is an opportunity not to be missed!


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Record October 2017 for new condo sales

Record October 2017 for new condo sales

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Record October 2017 for new condo sales

Average price for available new detached homes rises to $1,548,888

New construction home sales soared in the GTA in the month of October, primarily driven by sales of multi-family homes, condo apartments in highrise and midrise buildings and stacked townhomes, the Building Industry and Land Development Association (BILD) announced November 24.

There were 5,377 new homes sold in October, according to Altus Group, BILD’s official source for new home market intelligence. About 91 per cent of them (4,884 units) were multi-family homes and only 9 per cent (493) were lowrise single-family homes such as detached and semi-detached houses and townhomes. Condo sales for October were 81 per cent above the 10-year average of 2,697, and the highest October yet recorded, while lowrise sales were 64 per cent below the 10-year average of 1,388.

As of the end of October, 39,476 new homes have been sold in the GTA in 2017, 82 per cent of them condo apartments in highrise and midrise buildings and stacked townhomes.

“October data shows that the new homebuyer is left with very little choice when it comes to purchasing a new home,” said BILD president and CEO Bryan Tuckey.

“Provincial intensification policy has our members building more high and midrise dwellings making housing choices a challenge. The cost of a single-family home is out of reach for many consumers pushing them to buy a condo over a house. As a result we are seeing record-breaking condo sales and higher prices this year for new lowrise homes.”

While supply of new housing increased again in October and reached 12,500 units, it is still well below what is considered a healthy level. Supply of new housing is typically measured by the number of new homes available for purchase in builders’ inventories at the end of the month. At the end of October, there were 9,308 multi-family homes and 3,192 single-family homes available in the GTA.

“Demand for newly-built condominium apartments is being fueled by three key buyer groups – small investors who have become the de facto providers of new rental housing supply in the GTA; end user buyers who might prefer a single-family home but are seeking out more affordable options; and the more traditional end users who value the lifestyle and amenities of well-located projects,” said Patricia Arsenault, Altus Group’s executive vice president of research consulting services.

Prices of available new homes in October increased slightly for both single-family lowrise homes and multi-family homes. The average for available new single-family homes was $1,217,428 up from $1,204,829 in September, and 29.8 per cent above last October’s average price of $937,689. The average price for available new detached homes was $1,548,888 and the average for available new townhomes was $995,571.

Meanwhile the average price of available new condo apartments in highrise and midrise buildings and stacked townhomes was $677,456 in October, up from September’s $661,188. The average price per square foot was $791 and the average unit size was 857 square feet.

October 2017

Highrise

Lowrise

Total

Region

2017

2016

2015

2017

2016

2015

2017

2016

2015

Durham

15

97

26

209

329

325

224

426

351

Halton

158

375

199

75

514

246

233

889

445

Peel

89

203

174

62

178

486

151

381

660

Toronto

3,994

1,509

2,307

2

22

66

3,996

1,531

2,373

York

628

687

573

145

625

695

773

1,312

1,268

GTA

4,884

2,871

3,279

493

1,668

1,818

5,377

4,537

5,097

Source: Altus Group



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Home Builder: Why It’s High Time For Midrise Developments

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Home Builder: Why It’s High Time For Midrise Developments

The industry has repeatedly asked for more predesignation and pre-zoning of land to encourage more of this type of development. Some people are suggesting the construction of more midrise residences to potentially ease housing supply challenges in the GTA.

Midrise development typically refers to structures up to 11 storeys that can be built in walkable, transit-oriented neighbourhoods. Done well, midrise is people-friendly housing that fits into existing neighbourhoods and doesn’t overpower the lower density that usually surrounds main streets.

In 2010, the city of Toronto released “The Avenues and Midrise Buildings Study,” which called for more growth along arterial corridors known as “The Avenues,” and gentle intensification in the form of midrise buildings that would be compatible with the adjacent neighbourhoods.

While the study itself was admirable, the city has yet to take the necessary actions to enable the development community to readily deliver midrise buildings. The city’s planning department has not taken the critical next steps to update zoning bylaws in support of midrise development. Our industry has repeatedly asked for more pre-designation and pre-zoning of land to encourage more such development, but it has yet to happen.

Despite the challenges, BILD members are finding ways to deliver midrise housing options. According to Altus Group, BILD’s official source for new home market insight, 39 per cent of the new condo apartment projects that were launched in the GTA between 2014 and 2016 were in buildings of nine storeys or less. While 25 per cent of the new condominium apartment buildings in Toronto were under 10 floors, 61 per cent of those were in 905 municipalities.

Many BILD members have been constructing midrise buildings for years. Ronald Herczeg at Insoho Developments, for instance, has made an art of designing midrise buildings. The loft conversion of The Malthouse at the Distillery District, for instance, is one of Insoho’s signature developments. It features 10 unique units that exemplify the building form. Insoho is now selling Imagine, at Kennedy Rd. and St. Clair Ave. E., which features striking contemporary architecture along one of the city’s designated main streets.

As the Altus numbers showed, the industry is building midrise developments across the entire GTA. PACE on Main, by Geranium Corp., is currently under construction in Stouffville and SigNature Communities brought Triumph, a seven-storey midrise in the heart the old village of Schomberg, to the market with great success.

Last year we changed many of the categories in our annual industry awards program, BILD Awards, to better reflect our members’ work in midrise. Among the advances was the introduction of a new category for Best Midrise Building Design.

It was won by the VANDYK Group of Companies for The Craftsman Condominium Residences in Mississauga’s Clarkson Village. The project includes almost 300 homes, in one- to three-bedroom units ranging in size from 602 to and 1,750 square feet.

The finalists in the category this year are all located in Toronto and range from luxury developments to a project featuring a range of housing units, including some priced for firsttime buyers. The winner for 2017 was George Condos + Towns, located in Leslieville on Queen Street East, by the Rockport Group. It is an eight-storey condo with 80 suites and eight towns, priced from $360,000 to $1.2 million, with suites ranging in size for 525 to 2,065 square feet.

Bryan Tuckey is president and CEO of BILD (Building Industry and Land Development Association), and can be found on Twitter (Twitter.com/BILDGTA), Facebook (Facebook.com/BILDGTA), YouTube (YouTube.com/BILDGTA) and BILD’s official online blog (BILDBlogs.ca).

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In Conversation With – Shakir Rehmatullah

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In Conversation With – Shakir Rehmatullah

Flato Developments’ president has perfected the art of the condo.

Everybody has a story to tell — some are pretty interesting — and Shakir Rehmatullah has one that spans three countries and two continents, and all before he was 20.

In 1996, Rehmatullah came to Canada with his parents from their home in Karachi, Pakistan, where both his father and grandfather were in the building industry.

As soon as the family landed at Toronto’s Pearson airport, the family drove to Markham and checked into a hotel, which, incidentally, is right beside Flato’s new head office.

The senior Rehmatullah then rented a car and started looking for property he could buy and found a piece of land.

Rehmatullah was studying architectural engineering at the University of Miami before his family relocated to Canada, which is why he named his company Flato — Fla is the abbreviation for Florida and TO is for Toronto.

The energetic father of four has a passion other than building — the arts. It’s why Flato is the naming sponsor for the Markham Theatre and why Rehmatullah is a patron of the theatre. He also sponsors Markham’s Varley Art Gallery, named for Group of Seven painter Frederick Varley, and helps young artists market their work through The Original Artwork Collection at his home decor website, FlatoHome.com.

“I love the arts,” Rehmatullah says. “It’s important to me to support the communities where we build — whether it be sponsoring their community theatre, art galleries, or recreation centres. It’s not just about building houses; it’s about building communities.”

Q: What separates Flato from other homebuilders?

A: My passion and the pride I have in what I build. I learned from my father and grandfather that building homes isn’t just about creating shelter, but about creating vibrant communities. I live in the community I built because it’s important to me and I have nothing to hide. I have a long-term commitment to each project I build. I work in the community for the same reason.

Every community needs schools, parks, theatres, arenas, libraries, hospitals, art galleries … we all need them. To help create those amenities, and to support those amenities, is going above and beyond what is required. I don’t want to leave a ditch behind when I finish building. I’ll turn that ditch into a park.

I’m also really blessed to have a really great team working with me who shares my vision.

Q:You are a lowrise homebuilder that recently took on a condominium project, ArtHouse.

A: We have built many lowrise communities acorss the GTA; in Vaughan, Mississauga, Oakville, Markham, Richmond Hill and Brampton. And yes, our first condo, ArtHouse in Markham, a 14-storey building with 173 units, which has been completed. The project is completely inspired by the arts, right down to the amenities, which includes an artist’s studio, gallery space, a digital arts centre and a culinary arts studio. It’s also built to LEED Silver requirements and will include retail at grade.

Q:What’s on the drawing board?

A: I’m really excited about our upcoming communities. In Dundalk, we’ve got Phase 3 of Edgewood Greens about to be released. It’s a master-planned community of fully detached homes, ranging in size from about 1,800 to over 3,000 square feet. And in New Tecumseth — Beeton actually — we’re in the planning stages for another master-planned community.

I’m finding that we can build high-quality homes outside the GTA and offer a more affordable price point. Beeton is right off Highway 400 and just a short drive to Alliston and Barrie, making the commute into the GTA fairly easy. But I’m really hoping the government will do more to promote public transit, which would make it so much easier for people to move around and find affordable housing outside of the GTA.

We’ll soon be releasing our final phase of Alloa Greens in Brampton. And another upcoming community we have is Palgrave Estates, a luxury estate home community in Caledon, situated on one- to seven-acre lots.

Q: Do you have someone you would consider a mentor?

A: My father, absolutely; I learned a lot from him while he was a builder in Pakistan and after we moved to Canada.

Q:What makes you proud?

A: My kids. I have four children — aged 11, 9, 5 and 2 — and I love to spend time with them. I take them to school every day and we really enjoy each other.

I’m also very proud of my team here at Flato. It sounds cliché, but we really are a family. What we do is what we believe.

Q: Flato has a reputation for giving back to the community. Why is that important to you?

A: What I do is not about the money for me. It’s personal satisfaction. It gives me pleasure to give from my heart. I want Flato to be more than just the homes we build.

Q:What do you do for fun?

A: I love to spend time with my kids. But, of course, having lived in Miami, I enjoy golf. I used to be quite good but don’t have the time anymore, so when I do play, I really enjoy it.

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Demand for new homes continues to outpace supply

Demand for new homes continues to outpace supply

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Demand for new homes continues to outpace supply

In April, demand for new homes in the GTA continued to outpace supply and prices for all types of available new homes were up significantly, the Building Industry and Land Development Association (BILD) announced May 24, 2017.

There were 4,680 new homes sold in the GTA last month, an increase of 7 per cent from a year ago according to Altus Group, BILD’s official source for new home market intelligence. Year-to-date sales of new homes in the GTA have been exceptionally strong. In the first four months of this year, 17,977 new homes were sold, 24 per cent more than during the same period in 2016 and 48 per cent above the 10-year average.

Meanwhile, the supply of new homes, the number of homes available to buyers in builders’ inventories at the end of the month, continued its unabated decline. At the end of April, there were only 9,387 new homes available to buyers across the entire GTA. This is the first time that overall inventory has dropped below 10,000 units since BILD and Altus Group began tracking such data more than a decade ago. A year ago, there were 21,056 new homes available for purchase in builders’ inventories.

“Builders are not able to keep up with the demand for new housing,” said BILD president and CEO Bryan Tuckey. “The product that builders are able to bring to the market is quickly purchased and prices for all types of new homes keep increasing as a result.”

In April, the average price of available new lowrise single-family homes, which includes detached, semi-detached and townhomes, was $1,212,297. That is 40 per cent more than the average price of such homes in April 2016.

Last month, the average asking price for available new detached homes in the GTA reached $1,810,232, while the average for available semi-detached was $856,036 and for townhomes was $946,496.

Prices of available new multi-family homes, condo apartments in highrise and midrise buildings and stacked townhomes, were up nearly 24 per cent from a year ago. The average price of available units hit $570,226 in April, with the average price per square foot at $685, and the average unit size 832 square feet.

Prices of available condo apartments were up due to both an increase in average unit size and a substantial increase in average price per square foot. Average price per square foot was up 17.5 percent from a year ago.

“The declining number of new homes available to purchase is not a question of less product being brought to market,” says Patricia Arsenault, Altus Group’s executive vice president of Research Consulting Services. “There were more than 11,000 units in projects opened in the first four months of this year – that’s about one-third higher than the average for the previous two years.”

Approximately 70 per cent of the new homes that were purchased in the GTA in April (3,265 units) were multi-family condo apartments in highrise, midrise or stacked townhomes, while 30 per cent (1,415) were new single-family lowrise homes including detached, semi-detached and townhomes.

Single-family lowrise sales were down 39 per cent from a year ago while sales of multi-family condo apartments were up 61 per cent from April 2016.

April New Home Sales by Municipality:

April 2017

Highrise

Lowrise

Total

Region

2017

2016

2015

2017

2016

2015

2017

2016

2015

Durham

19

33

16

362

356

441

381

389

457

Halton

129

87

123

84

342

476

213

429

599

Peel

872

170

106

474

908

822

1,346

1,078

928

Toronto

1,621

1,391

1,262

52

119

88

1,673

1,510

1,350

York

624

351

294

443

611

868

1,067

962

1,162

GTA

3,265

2,032

1,801

1,415

2,336

2,695

4,680

4,368

4,496

Source: Altus Group

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