February 2015 Ontario Economic Fundamentals

[Ally]

Blockbuster year for real estate in the Waterloo region

WATERLOO REGION — Sales of investment properties in Waterloo Region topped $1 billion last year, driven largely by the sale of Sun Life and BlackBerry properties.

That's a 36 per cent increase from the spending on investment properties in 2013, according to commercial real estate firm Colliers International.

Read the full article here.

 

[Ally]

A lack of listings leads to lively bidding for Toronto homes

Lively bidding for a small house in Leslieville last week caused a buzz around the neighbourhood when the house sold for $96,000 above the asking price of $499,000.

One neighbour on Berkshire Avenue looked around at his own nearly identical bungalow and called listing agent Christopher Stevenson to pepper him with questions about the sale down the street at number 21. By the end of the conversation, the owner at number 75 had decided to enlist Mr. Stevenson to sell his house too.

Read the full article here.

 

[Ally]

Waterloo Region has record-breaking 2014 investment sales

Although BlackBerry’s downsizing and real estate sell-off have given suburban Waterloo the highest office vacancy rate in the region at 22 per cent, record-breaking investment sales in 2014 and strong market fundamentals are providing grounds for optimism.

http://renx.ca/wp-content/uploads/2015/02/15feb19-WaterlooRegion.jpgA growing and highly educated population thanks to two universities, an established cluster of technology-driven businesses, and easy access to major highways and cities already make Waterloo Region attractive, and the first phase of a 19-kilometre light rail transit (LRT) system scheduled to launch in 2017 is adding to the interest.

Read the full article here.

 

[Ally]

1,000 jobs planned for ArcelorMittal over three years

ArcelorMittal Dofasco plans to hire 1,000 workers over the next three years to replace retiring baby boomers.

For Tony Valeri, the company's vice-president of public affairs, that alone is proof there's a future for the steel industry in Hamilton.

Read the full article here.

 

[Ally]

Hamilton's Royal Connaught condo development helps Steeltown steal the spotlight

Hamilton has been poaching homebuyers from Toronto for years now — that’s hardly news. The Royal Connaught, the palatial hotel being converted into condominiums, is the latest draw.

The 13-storey building — flat-fronted and block-long, with a proper portico and double-storey arched windows — stands on Hamilton’s King Street like a dashing movie set for a Fitzgerald film. Now step into the vast, showy lobby with its 24-foot ceilings and five soaring columns.

Read the full article here.

 

[Ally]

City of Toronto's Chief Planner talks life and real estate

Few people around Toronto City Hall have the profile – and pressure – of Jennifer Keesmaat. As chief planner, Keesmaat is charged with overseeing the City’s Official Plan – which these days involves the development and transit expansion that shape our city, streets and neighbourhoods. Monumental tasks, to be sure.

That’s the pressure.

Read the full article here.

 

[Ally]

Hamilton to see its first Premier Waterfront development project

HAMILTON, ON, Feb. 25, 2015 /CNW/ - Tiffany Square Condominium development will be the first condo development at Hamilton's Waterfront. With the new Go Station set for completion this summer, it is a prime location that commuters and investors are flocking to.

Sonorak Corporation's President, Raquel Rakovac along with her experienced team that includes Ninco Construction and Coldwell Bankers are just a few of the team's members spearheading the development project.

Read the full article here.