Ontario Economic Fundamentals

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Taking Flight

It`s big, it`s bold -- and it`s finally open for business.

After nearly two years of construction, the Ottawa airport proudly unveils its `world-class` domestic flight terminal

It`s a $95-million, 75,000-square-foot "world-class" makeover for the Ottawa International Airport Authority.

http://www.canada.com/ottawacitizen/news/c...0b-b30696eaee5c

 

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Condo market driving housing starts: CMHC

Toronto action soars 50 per cent over one year ago

OTTAWA–The Canada Mortgage and Housing Corp. says the annual rate of housing starts was 256,900 units in February, up from 222,700 units in January.

Chief economist Bob Dugan says new-home construction was boosted by a significant rise in multiple-family starts in February, primarily condominiums.

But Dugan predicts the trend in housing starts will decrease gradually between now and the end of the year.

http://www.thestar.com/living/article/339472

 

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Pearson costlier way to fly, report shows

OTTAWA–Toronto`s Pearson airport gets low marks for efficiency and fee levels in a "scorecard" created by Transport Canada, rankings that help confirm the airport`s global reputation as a high-cost facility for both airlines and passengers.

The draft scorecards, intended to monitor the financial health of Canada`s major airports, were obtained by The Canadian Press under the Access to Information Act.

The internal rankings were created for all 21 airports that Transport Canada has transferred to local management groups in the last two decades.

http://www.thestar.com/News/GTA/article/346757

 

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Toronto to hold conference on bed bug problem


Toronto Public Health will host its first conference on bed bugs on Monday in an effort to get a handle on the growing creepy-crawly problem.

Health experts, pest control operators and landlords will attend the conference at Metro Hall, but the event is not open to the public.

http://toronto.ctv.ca/servlet/an/local/CTV...hub=TorontoHome

 

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Councillor wants condemned arena`s safety on record; Barrie Arena to be demolished

It`s safe and it isn`t expensive to run, but, Barrie Arena is to be closed and demolished anyway.

Coun. Jeff Lehman, who represents downtown Barrie, however, said last night he wants the facility`s safe condition on the record.

"I did have some calls and questions about this issue," he said. "I think it`s very important to be absolutely clear about this. The facility is safe."

City council decided two weeks ago to decommission the downtown rink immediately, which means it could be demolished as early as this summer. It was also decided to build a new

$12.1-million Fire Station No. 1 on the old arena site, replacing the Vespra Street hall.

http://www.thebarrieexaminer.com/ArticleDi...auth=BOB+BRUTON

 

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Green design is gold for new med school

When Windsor`s new medical school opens this year, it will be one of the greenest buildings around town.

With a host of environmentally progressive features incorporated into the $15-million structure`s design, the building will be certified "gold" under the Leadership in Energy and Environmental Design certification, which is a point system devised by the Canadian Green Building Council, said chief architect Caroline Spigelski of Diamond and Schmitt Architects of Toronto, which is working in conjunction with DiMaio Design Associates of Windsor. That`s one notch under the highest level of platinum certification.

http://www.canada.com/windsorstar/news/sto...72e&k=94806

 

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Waterfront`s long-running revitalization saga moves into a high-stakes phase

During Wednesday morning`s snowstorm, lawyer Cindy Wilkey trudged along an inhospitable stretch of Queens Quay East, conjuring images of what the East Bayfront might look like after the (construction) dust settles.

At the corner of Lower Sherbourne, site of the future Sherbourne Park, she paused to glance east, toward the hulking silos near the Parliament Street slip. In the foreground sat a domed tennis club, an abandoned warehouse and a row of forlorn commercial buildings.

http://www.theglobeandmail.com/servlet/sto...inment/Ontario/

 

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Landlords launch `pre-emptive strike` against proposed licensing program

A proposed program to require landlords of residential rental properties to be licensed is set to enter its first phase Tuesday (March 18) with a public information meeting, but City Hall is already facing stiff opposition and has been "inundated by calls from terrified and angry tenants," due to what one municipal representative is calling "terrorist tactics" by a group representing area property managers.

City of London Controller Gina Barber said city staff was swamped by calls from London tenants late last week, after notices were circulated by the London Property Management Association (LPMA) to tenants at various London properties stating rents will rise if the city goes ahead with a proposed Rental Residential Business Licensing Program

http://www.londontopic.ca/article.php?artid=8129

 

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Windsor workers could come to Sask. to work: mayors

REGINA -- Regina Mayor Pat Fiacco is receptive to having workers from labour-rich Windsor come to the Queen City for jobs, but there is still plenty of planning that must be done before putting out the welcome mat.

In his state of the city address on Monday night, Windsor Mayor Eddie Francis suggested that workers from his city -- which has the highest unemployment rate in Canada -- could travel to Saskatchewan and Alberta to work for five days each week and return home on weekends.

http://www.canada.com/reginaleaderpost/new...937&k=42270

 

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Nanticoke promoted as nuclear power site

Communities surrounding the massive Nanticoke coal-fired power station, which is set to shut down in 2014, are strongly urging the provincial government to consider the area for a new nuclear power plant.

Both Norfolk and Haldimand counties sent letters last month to Premier Dalton McGuinty asking for the go-ahead to start an environmental assessment that would be filed, along with a formal site application, by nuclear operator Bruce Power, according to Haldimand Mayor Marie Trainer.

http://www.thestar.com/Business/article/347597

 

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Downtown offices remain at premium

Despite increasing economic uncertainty, downtown Toronto office space remains exceptionally tight, with the vacancy rate in the first quarter of the year plummeting to the lowest in more than 15 years.

Toronto`s downtown office vacancy rate hit 4.7 per cent in the first quarter of 2008, down from 5.6 per cent at the end of 2007, according to a report released yesterday by CB Richard Ellis.

Traditionally, a figure below 10 per cent is considered a landlord`s market, and anything above 10 per cent is considered a market tipped to tenants. A low vacancy rate is one indicator of a stable economy.

http://www.thestar.com/Business/article/347574

 

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Children get to stay in adult lifestyle building

Q: I live in a condominium that was built as part of an adult-only building in 1979 and changed to an adult lifestyle building in 1995 following a Human Rights Code decision prohibiting the adult-only classification.

While most of the occupants are adults and many are seniors, there are a few families in a building that has no facilities for kids.

What are the chances of reverting our building to adult-only since there are now so many buildings that families will have no problem finding accommodation in other buildings that are not restricted to adults?

http://www.thestar.com/NewsandFeatures/Regulations/article/339505http://http://www.thestar.com/NewsandFeatures/Regulations/article/339505

 

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Crowd backs status quo on water rates; Bayshore Village, Lagoon City residents nix debt consolidation

Ramara Township`s annual public meeting on water and sewer rates drew a packed house Monday night.

Mayor Bill Duffy said it was almost a capacity crowd in the council chambers, with the vocal majority backing a general committee motion to leave the calculation of township water and sewer rates the same. The alternative, put forward during budget deliberations by Coun. Bill White, was to consolidate all systems` past debt and create one standard rate.

Before the bylaw to officially set rates can be passed, a public meeting on the proposed rates is required.

http://www.orilliapacket.com/ArticleDispla...Courtney+Whalen

 

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Auto expert advises Ontario to court Volkswagen

WINDSOR - Ontario should aggressively chase Volkswagen, and convince it to build a new Audi or Volkwagen assembly plant in the province, a leading automotive journalist told an audience of Windsor`s business elite on Wednesday.

"I`d go after them with a vengeance," John McElroy, host of the TV show Autoline Detroit, said at the Windsor Chamber of Commerce`s annual automotive luncheon. "Good luck."

http://www.canada.com/windsorstar/story.ht...b15&k=33568

 

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Toronto Real Estate Board Says GTA Resale Housing Market Still Down

TORONTO, ONTARIO--(Marketwire - March 19, 2008) - Resale home transactions in the Greater Toronto Area continued at a moderate pace during the first half of March, Toronto Real Estate Board President Maureen O`Neill announced today.

With 3,183 transactions to mid-month, sales in the GTA and in Toronto declined 14 per cent and 18 per cent respectively compared to the same timeframe a year ago.

"It`s important to recognize that we have endured the snowiest winter since 1939 and this has undoubtedly affected the market," said Ms. O`Neill. "The storm that pounded the GTA during the second weekend of March likely had more people focused on shoveling sidewalks than house hunting."

http://www.marketwire.com/mw/release.do?id=834284

 

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Residents face new fight against condo developer

Some veterans of North Toronto`s 2003 battle against the Minto towers at Yonge Street and Eglinton Avenue are preparing for another fight-- this time against a developer proposing a 25-storey condominium for a residential pocket northwest of the intersection.

Top of the Tree Developments Inc. has already alarmed the local councillor and some residents with an application to allow much taller buildings in a two-block area that includes 41 homes, most of which the developer does not own.

The tactic has prompted a new residents` association to ratchet up its opposition with a petition drive tomorrow.

http://www.nationalpost.com/news/canada/to....html?id=385019

 

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Ontario may become a have-not province: Flaherty

Ontario is on track to become a "have not" province within two to three years, federal Finance Minister Jim Flaherty says.

"I`m quite concerned with the weakening of the Ontario economy," Flaherty said Tuesday.

"If this continues - this is not hyperbole, this is a fact - Ontario will become a `have not` province in Confederation.

"And it will be Premier (Dalton) McGuinty`s legacy that he in two terms took Ontario from being the strongest economic province in the federation to a `have not` province," he said.

http://www.niagarafallsreview.ca/ArticleDi...ntonella+Artuso

 

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Allstate hit by growing agent revolt

The "Good Hands" people are losing their grip after fumbling a plan to close 256 offices in Canada and change the way exclusive sales agents are paid. Veteran agents are quitting or planning to quit Allstate Insurance Co. of Canada in order to keep their offices, keep their staff and give customers a choice of other insurance.

To make matters worse for Allstate, which sells about 3 per cent of the auto insurance in Ontario`s crowded market, it cannot stop the former agents from selling to its clients.

http://www.thestar.com/Business/article/348065

 

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Canadians` quarterly reno bill: $9.2 billion

In the five years since James Lynch purchased his home in the Beach area of Toronto, he`s been consumed with renovations.

Lynch, an aircraft engine technician, estimates he`s spent more than $30,000 on the 1,400 sq. ft. semi-detached home, and thousands of hours on everything from installing new washrooms to single-handedly putting in a front porch.

"There`s a lot of sweat equity that went into that house," says Lynch, who worked on the home every day for years until the birth of his son three months ago.

Lynch may be an extreme case, but he`s far from alone.

http://www.thestar.com/Business/article/348073

 

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$13M writeoff won`t impact customers, Hydro says

Good news and bad news for Toronto finances.

The good: A pat on the back for the city`s financial performance from Standard & Poor`s Rating Services.

The bad: City-owned Toronto Hydro has taken a $13 million writedown on asset-backed commercial paper, the notes that have rocked financial markets in the U.S.

Even so, Toronto Hydro paid city hall a dividend equal to the previous year, to the tune of $46.2 million.

And the writedown won`t affect customer rates.

Standard & Poor`s gave Toronto a modest nudge upward.

http://www.thestar.com/News/GTA/article/348021