ON Economic Fundamentals 2008-08

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Ontario, Quebec shed jobs

OTTAWA–The unemployment rate slipped to 6.1 per cent in July from 6.2 per cent in June, but only because many people – especially the young – left the work force.

There were actually 55,000 fewer people working in July than in the previous month, Statistics Canada reported Friday.

Most of the job losses came in part-time work and were centred in manufacturing, business building and other support services and educational services.

http://www.thestar.com/Business/article/474546

 

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Bungalow folks cling to lake lots

Suzanne Youash says of her Clarkson neighbourhood, "You`re in tune with nature. You hear the sound of the water, the birds." You do on some days.

On others, you hear what Suzy Wilkinson did as she looked out from her living room on a sunny July afternoon and lamented a dream neighbourhood in south Mississauga lost.

Next door, where a fire chief and his family once lived in a humble bungalow, was a housing site consisting of a mansion-sized hole in the ground, a 3-metre pile of dirt, and a loudly droning John Deere excavator.

Directly across the street, workers hammered away on another monster-home-in-progress. Never mind the birds or Lake Ontario: between the crack-crack of the hammers and the John Deere`s hum, it was hard for Wilkinson to hear her guest in the backyard.

http://www.thestar.com/News/GTA/article/474349

 

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The urban jungle

City council is vowing to get tough with the weed-filled, garbage-strewn properties that are causing a skyrocketing number of complaints.

But figuring out exactly what can be done to solve the problem will be difficult, says Diane Sibley, the city`s licensing commissioner.

Absentee landlords living outside the city, time-consuming court processes, seemingly ineffective tax penalties and a short-staffed bylaw enforcement department all stand in the way of quick cleanups, Sibley said.

http://www.canada.com/windsorstar/news/sto...48-2712e2b6cfb6

 

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Town taking over utility

ESSEX - The Town of Essex will take over ELK Energy Inc. this month at a cost of about $12.7 million.

Council voted Wednesday to buy out the shares of neighbouring Lakeshore and Kingsville and run the electrical utility on its own.

"It`s a money-making company," Essex Mayor Ron McDermott said Thursday. "Why would we not want to keep control?"

http://www.canada.com/windsorstar/news/sto...d0-cda418a3cf60

 

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City sidesteps $20m cost of home flooding claims

Flood damage in Hamilton the past three years has amounted to at least $20 million.

That`s what the city says insurers have paid out in claims by homeowners since 2005.

Although $20 million in claims could be a huge problem for the city if insurers sought to recover their costs from the city, none of the companies involved has done so, says the city`s risk management manager Michael Hill.

That`s because although the insurers are entitled to seek recovery of what they pay out, the legal test for such action involving a municipality is not whether the city was responsible for sewers and water mains, but whether or not the city has been negligent.

http://www.thespec.com/News/Local/article/415101

 

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Council makes U-turn on tax shift debate

In an abrupt turnaround, city council has agreed to revamp Hamilton`s taxes before the next election.

Suburban and urban councillors voted unanimously yesterday to tackle the divisive issue together and implement a new system by 2011.

"I think it`s a turning point," said Councillor Tom Jackson, noting both sides have moved their position to "work together as a team."

The decision was a sharp shift from the previous day when council, meeting in committee, voted 8-7 to delay any decision about the city`s tax division until after the 2010 election. Councillors huddled privately to find the compromise on a timeline after a change in council attendance threatened to reverse the original vote and possibly force a decision this fall.

http://www.thespec.com/News/Local/article/415078

 

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City shifts into drive on 2-way streets

The city is moving ahead with its original plan to convert several more downtown streets from one-way to two-way.

With council`s sign-off, city staff will also review the conversions already done on the south legs of James and John streets to see if they can improve traffic flow.

The two arteries are a regular source of frustration for Mountain residents, who view the conversions as "failures," said Councillor Scott Duvall.

But downtown Councillor Bob Bratina urged his colleagues not to let issues with the two streets hold up an overall transportation plan he believes will help revive the downtown.

http://www.thespec.com/News/Local/article/415100

 

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Upper Stoney Creek centre will have 10-screen Cineplex

A silver screen is coming to the Stoney Creek Mountain -- an indoor one.

The Effort Trust Company and Silvestri Investments have teamed up to create a supercentre where the Linc and the Red Hill Valley Parkway intersect.

A Cineplex Odeon theatre -- to be called Silver City Hamilton Cinemas -- is slated for completion late this fall, said Cineplex communications manager Georgia Sourtzis.

Construction started in the spring.

The 10-screen location will occupy 41,000 square feet and have more than 2,100 seats, she added.

http://www.thespec.com/News/Business/article/415055

 

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Resale housing sales rebound

WATERLOO REGION

Home buying in Kitchener and Waterloo rebounded in July, giving area real estate agents confidence they will still have a good year, despite the slowdown from last year`s record-setting sales pace.

Sales of already-built homes across Waterloo Region were down in the first half of the year. But in July, in Kitchener and Waterloo at least, there were 657 sales, two more than in the same month in 2007.

The market is still lagging in Cambridge, where the 255 sales in July were 16.8 per cent lower than the 298 units sold in the same month last year.

For the year so far, the 4,174 residential units sold in Kitchener-Waterloo is down about 5.4 per cent from last year; the 1,676 units sold in Cambridge is down about 16.8 per cent from last year.

http://news.therecord.com/Business/article/395161

 

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Metrus took 10 months to secure David Dunlap land

Despite concerns about the future of the David Dunlap Observatory, a vast swath of prime land in the centre of Richmond Hill was too good a deal to pass up, Metrus vice-president Fraser Nelson said of his company`s $70 million purchase.

"Every project these days has its issues and it`s phenomenal that you can have 190 acres in the middle of town available," he said.
On July 29, the University of Toronto announced that Metrus was the new owner of the site, which they declared surplus and put up for sale last least year.

The process was finished in less than 10 months, but it did not feel speedy to Metrus officials.

http://www.yorkregion.com/News/Richmond%20Hill/article/79345

 

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T.O. on board for Pan Ams

Toronto officially has its game on.

After Prime Minister Stephen Harper decided to fully back Toronto`s bid for the 2015 Pan American Games on Thursday, the city is ready to jump on board.

"Toronto fully supports the games," Deputy Mayor Sandra Bussin told the Sun yesterday. "The mayor will have to talk to the premier and until he`s fully briefed with the three levels of government, they`re not really prepared to say (specific details.)" Toronto Mayor David Miller, who was out of town and not available for comment yesterday, backs the bid but has said previously that he was waiting for approval from the federal government before the city would officially sign on as a player.

http://www.torontosun.com/News/TorontoAndG...394041-sun.html

 

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A primer on attracting buyer

There are currently more than 27,000 listings on TREB`s Multiple Listing Service, a database used exclusively by Realtors to match people with properties for sale. That represents a 25% increase from a year ago, when there were close to 22,000 properties from which to choose.

The increased number of available properties means that if you`re currently planning your next move, it`s crucial to brush up on tips for attracting buyers to your property. Your first step is to choose a Realtor who will serve as your advocate throughout the process. By reviewing market trends and sold prices of comparable properties in the area, your Realtor can help you establish a realistic asking price.

http://www.torontosun.com/ResaleHomesandCo...08/6386791.html

 

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Ontario loses 41,000 jobs

Ontario lost 41,000 manufacturing jobs last month -- a city of workers larger than Woodstock -- as Canada`s job boom finally went bust.

While the sector`s job losses aren`t broken down by cities, many were from the London region, one union official said.

"It`s pretty scary -- and it`s not going to get better," warned Tim Carrie of the Canadian Auto Workers Local 127, who has seen the region`s auto industry take a pounding and fears the fallout will filter into the wider economy. "When people are insecure, they are not buying big-ticket items," he said.

http://lfpress.ca/newsstand/News/Local/200...395436-sun.html

 

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NHS chooses builder of hospital complex

The Niagara Health System has chosen who will design and build Niagara`s regional cancer centre and west St. Catharines hospital.

Plenary Health will oversee the design, construction and maintenance of the new health-care complex, including the Walker Family Cancer Centre and 375-bed hospital at First Street and Fourth Avenue. The NHS hopes to have the contracts signed in two months and to announce a final cost in

three months. It is exciting news for Niagara residents, NHS president and

CEO Debbie Sevenpifer said. "We`re very happy to get to this additional milestone in the

process," she said. "This is a long-awaited project in the community."

http://www.stcatharinesstandard.ca/Article....aspx?e=1150395

 

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New stores create buzz downtown

Some business owners say new seeds of upscale growth are taking root on St. Paul Street, a positive signal for St. Catharines` struggling main downtown street.

A new wine bar called Cask 22 and a future Coffee Culture shop are among the latest upscale additions to the area of St. Paul Street near St. James Street.

The new shops are taking up residence near other fledgling businesses such as Pan Cafe, U Need A Pita and Aha! Gallery, an antique and art shop.

The owners have invested money and time to revitalize old, ailing buildings.

http://www.stcatharinesstandard.ca/Article....aspx?e=1150354

 

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School renos nearly complete

Barrie schools aren`t in need of as much patching and primping this year.

But a few new schools being built in the area have required all hands-on deck this summer.

"There`s not a lot that`s going on in Barrie (construction-wise) this year," said Lou Brandes, associate director/ superintendent of facility services for the Simcoe County District School Board.

"At Barrie North (Collegiate), there were renovations to the life skills classroom and the science lab as well," he said. "There have been a few other things like electrical issues but that`s pretty much it for Barrie."

Schools in northern Simcoe County are a different story.

http://www.thebarrieexaminer.com/ArticleDi....aspx?e=1149520

 

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A city growing in 3D

The City of Mississauga is embracing the province`s demands for population intensification with ambitious plans for growth in three distinct areas.

Marilyn Ball, director of development and design for the city, says that developing the Lakeview area`s waterfront is "certainly a priority," as well as the city centre, now entering "its second evolution," and Dundas Street, an "area ripe for intensification."

http://www.nationalpost.com/todays_paper/s....html?id=710751

 

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Mississauga housing prices rising faster than GTA average

The average price of a new detached home in Mississauga rose 14% in 2007. This surpassed greater Toronto area`s average price increase of 8.9%. North Mississauga had the most activity, with 2,479 detached transactions. South Mississauga was second, with 1,039. The most expensive homes are in south Mississauga, where the average price of a detached home in 2007 was $669,000. The average in central Mississauga was $458,000 and in north Mississauga it was $441,000.

http://www.nationalpost.com/todays_paper/s....html?id=710755

 

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From mills and pills to business park

George Carlson, who has lived in Meadowvale his entire life, fondly recalls a time when there were more tractors on the roads than cars. Meadowvale Village was Ontario`s first heritage district, reflecting its milling roots.

"My family moved here in the 1820s and today my sons hang out with their 13th cousins, just like I did," says Mr. Carlson, Ward 11 councillor. "And they`re not talking about moving away.

"The Credit River provides a rural feel, yet you can find anything you need here in five minutes."

http://www.nationalpost.com/todays_paper/s....html?id=710760

 

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Distance between LRT stops criticized

Passengers on the planned Eglinton light rapid transit line will have to walk farther to get to and from their stops, according to information to be presented at public consultation meetings this month.

Existing bus stops along Eglinton Ave. are about 300 metres apart, according to the TTC.

But the stops on the planned LRT line will average 850 metres apart for much of the route, according to the public consultation material, which was presented to City Hall staffers yesterday by TTC officials at a closed-door briefing.

http://www.thestar.com/News/GTA/article/475187