Ontario Economic Fundamentals

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Housing sales drop 16.7% in March

Sales of resale housing fell 16.7 per cent in March in Ottawa with cold winter weather getting the blame from the real estate industry.

But some observers say that worries about the U.S. economy and hopes that mortgage rates will fall are also responsible. Strong demand for new housing could also be a factor.

http://www.canada.com/ottawacitizen/news/b...ff-18cf55e0f6ff

 

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Council not cutting 5.9% tax hike

TECUMSEH -- Other municipalities spent full days on their 2008 budgets, but after a 90-minute review Monday, Tecumseh council found no way to cut its proposed 5.9 per cent residential tax increase.

Tecumseh will have operating expenditures of $22.8 million in 2008. To cut residential taxes one per cent, council would have had to find about $138,000 in savings.

http://www.canada.com/windsorstar/news/sto...b1-cfcb7cfd8581

 

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Hamilton, Barrie lone cities to boost construction

Hamilton was one of just two places in Ontario to post a construction increase in February.

New figures from Statistics Canada show only Hamilton and Barrie reported increased activity for the month, thanks to boosts on both the residential and non-residential sides.

The local figures show a major boost of 153.1 per cent in the total value of building permits issued.

http://www.thespec.com/News/Business/article/351267

 

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Fraud charges mount against contractor

An unlicensed Hamilton contractor is facing numerous fraud-related charges for allegedly bilking seven people out of about $90,000 through his commercial and residential renovation business.

At the time of his arrest on April 3, Steven Sardinha, 35, already faced other outstanding fraud charges relating to his business. As part of his bail conditions on the previous charges, he was prohibited from contracting home renovation jobs while the case was before the courts.

http://www.thespec.com/News/Local/article/351209

 

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Councillors want to know why downtown project is over budget before it begins

KITCHENER

The much-touted reconstruction of King Street West will be delayed -- possibly a few years -- because of increasing costs.

City councillors voted yesterday to delay the start of the $5.6-million project, which was to begin within days but will now be delayed while city staff find out why the final costs are estimated to be $2 million to $4 million overbudget.

"I am amazed," Coun. John Gazzola said. "It is just over a month ago we approved our budget."

http://news.therecord.com/News/Local/article/333638

 

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Waterloo Region could become the wind-energy capital of Canada

CAMBRIDGE

Waterloo Region could easily generate 2,000 jobs in the emerging wind-energy industry, an expert says.

The region has the engineering smarts, skilled workforce and manufacturing background to become the wind-energy capital of Canada, said Helge Wittholz, a consultant to the industry.

His research suggests Ontario`s wind industry will employ 5,600 people and grow to be worth $1.1 billion by 2013. A large chunk of that business could end up here, Wittholz said yesterday.

http://news.therecord.com/Business/article/333629

 

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Mall to get a makeover

PICKERING -- The Pickering Town Centre is going for a more uncluttered, modern look, and will get just that with a $17-million makeover.

The recently announced mall renovation project begins this spring and is expected to be completed in early 2009. All restaurants and stores will remain open throughout the renovations. "With over $17 million in upgrades to the shopping centre, customers will enjoy the bright, new, comfortable environment in which to meet, relax, and shop," said Allan Arsenault, centre manager at PTC, in a press release. "It`s a contemporary, harmonious design, complete with new floors, ceilings, lighting and seating areas."

http://newsdurhamregion.com/news/ajax/article/96595

 

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Building construction cools compared to red-hot 2007

OSHAWA -- The 25.3 per cent decline in building permit value for the first two months of the year fails to give the real picture of robust development for the Oshawa-Whitby-Clarington metropolitan area. Overall January and February building construction for 2007 was valued at $93 million compared to the first two months of 2008 at $28.6 million.

http://newsdurhamregion.com/news/oshawa/article/96604

 

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Council trims tax rate; Increase whittled down to 3.07 per cent

A little slice here, a little dice there and Barrie`s big property tax increase has been whittled down to size.

Savings found from provincial infrastructure funding, in money paid for county services, facilities projects and major purchases that have been delayed have cut this year`s blended (municipal/education) tax increase to 3.07 per cent from a projected 5.57 per cent.

"In spite of what looks like Monty Hall`s Let`s Make A Deal, this has been about trying to make a budget that meets the service needs of our citizens," Coun. John Brassard said at last night`s budget debate.

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

 

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Report outlines concerns

Opposition to the city`s plan to build a multimillion-dollar recreation centre on a contaminated site is the overwhelming message of a recent grassroots survey.

"Our main purpose is to transmit the voice of the people," Allan Millard, one of the report`s presenters, told Orillia politicians at city hall on Monday night.

Millard was part of a six-person contingent that provided a snapshot of a 72-page report based on opinions expressed in 153 questionnaires.

http://www.orilliapacket.com/ArticleDispla...uth=Teviah+Moro

 

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Residents file appeal

The appeal to be heard Tuesday regarding a proposed golf course and condominium in South Aurora has been adjourned. The Town of Aurora denied an application submitted by Lebovic Homes to build an 18-hole golf course and 75-unit condominium complex March 4 on Leslie Street just north of Bloomington Road.

http://www.yorkregion.com/News/Aurora/article/72666

 

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Real Canadian Superstore has sights set on south side`s new development

GUELPH

The mix of retail stores at the intersection of Gordon Street and Clair Road has yet to be announced, but the commercial node will definitely get a full-service grocery store, a company official said yesterday.

"That`s what we`re in the business for," Loblaw Companies Ltd. spokesperson David Primorac said. "I believe we are looking at a (Real Canadian) Superstore. We feel the area will support it."

http://news.guelphmercury.com/News/article/314504

 

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Site of $450M condo/hotel yet to be razed

The site of the city`s most famous unbuilt skyscraper, the Bazis tower at Yonge and Bloor streets, remains a boarded-up set of buildings six weeks after demolition was to begin, and may stay that way a while yet.


Demolition of Roy Square was slated to begin end of February, but has been delayed by two months, said Veronika Belovich, director of sales and marketing at Bazis International.


"Co-ordination of things and planning of things just took longer than anticipated; getting ready for demolition, finalizing details of demolition took time," she said.

http://network.nationalpost.com/np/blogs/t...o-be-razed.aspx

 

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Lack of signals makes crossing dodgy

Trendy Liberty Village is an urbanite`s dream and a pedestrian`s nightmare.

Busy East Liberty St. doesn`t have a crosswalk or pedestrian traffic signals to make it safe and easy to cross. Currently, parking is allowed on both the north and south sides of the gently winding street. Stepping out between vehicles to cross defies every rule you ever learned from Elmer the Safety Elephant.

http://www.thestar.com/GTA/Fixer/article/412720

 

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Police lay new charges in reno scam

Ottawa police have charged a 30-year-old man and laid additional charges against three others after more than 50 area seniors were defrauded over the past five years for home renovations that were never completed.

The scams, which police said were run between November 2002 and November 2007, included inflated estimates, advanced fees for work not done, salespeople using false names and aggressive sales tactics. The business operated under several company names and signed up contracts with the seniors worth about $1 million.

http://www.canada.com/ottawacitizen/news/c...13-64e77400184b

 

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Zoning proposals under fire

New citywide zoning rules took a beating yesterday at City Hall, and a council committee sent the most contentious of them back to staff for further comment and possible changes.

When passed by council, the new rules will see zoning regulations from 11 former municipalities put into one bylaw, a draft of which was in front of councillors on the planning committee yesterday.

http://www.canada.com/ottawacitizen/news/c...24-ef212cc62b0f

 

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Construction plunges

Housing starts across the Windsor metropolitan area remained unchanged at 17 units from the same month one year ago but year-to-date numbers have dropped 63 per cent, according to the Canada Mortgage and Housing Corporation.

http://www.canada.com/windsorstar/news/sto...ba-2ed4308ffe25

 

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Town plots future water, sewage projects

LAKESHORE -- A $192.5-million master plan to improve water and sewage services over the next 20 years was presented to Lakeshore council Tuesday.

"I always feel like Darth Vader when I`m presenting these," said consultant Gary Scandlan of C.N. Watson Associates, as he explained the potential impact on water and sewer rates.

http://www.canada.com/windsorstar/news/sto...89-d81b9c2c1d7c

 

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Shoreline buyout not in ERCA plan

LEAMINGTON -- The Essex Region Conservation Authority isn`t calling for the buyout of private shoreline properties in southeast Leamington, but is leaving open the possibility of creating a natural link between Point Pelee National Park and Hillman Marsh.

A report going to ERCA`s board Thursday says a natural link should "be considered in all future sustainable solutions" for the low-lying area north of the national park.

http://www.canada.com/windsorstar/news/sto...50-ad8d64494276

 

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Auto sales forecast upgraded

TORONTO -- A leading auto analyst has raised his forecast for Canadian auto sales this year, saying stronger-than-expected volumes in the first quarter signal a "very healthy market."

Car companies in Canada will sell an estimated 1.645 million new vehicles in 2008, according to the revised forecast released Tuesday by Dennis DesRosiers, president of DesRosiers Automotive Consultants of Richmond Hill. That`s up 2.6 per cent from his previous forecast of 1.603 million units. Last year`s tally of 1.653 million vehicles was the second best on record.

http://www.canada.com/windsorstar/news/bus...6f-3babdcfb43b5