Articles from Storeys

The article argues that criticism towards development 'flippers', who prepare land for resale rather than building on it, is misguided. It suggests that the real issue lies in the complex and costly regulatory framework that makes such investment attractive. The authors assert that these intermediaries add value by navigating the complex entitlement process, thus allowing builders to focus on construction. Consequently, the blame for stalled development should be directed at policy, not the flippers.

This article introduces a modern two-bedroom, two-bath condo located at Howard Park Avenue in Toronto's Roncesvalles neighborhood. The condo offers a balance between urban living and natural surroundings, featuring a large terrace with views of the city and High Park. Inside, high-end finishes and a spacious design enhance its appeal, and its proximity to local amenities makes it a desirable location. The condo is listed for $1,179,000, representing a stylish and convenient living option in the city.

Aspen Ridge has proposed a 39-storey residential tower as part of the Crosstown Community at Don Mills Road and Eglinton Avenue East, Toronto. The new tower, located in Block 6C, aims to add 452 condominium units to the community, which is part of a larger 60-acre development project including residential, office, and commercial spaces. Designed by CORE Architects, the tower will feature a distinctive podium with an undulating design and numerous amenity spaces. The area offers strong transit connections and is poised to become a dynamic, mixed-use community.

The article discusses the crisis in Toronto's housing market as an opportunity to rethink urban development dynamics. It addresses the over-commodification of housing, urging a shift from speculation-driven models to constructing homes for diverse community needs. The author emphasizes aligning economic models with social values and community integration, advocating for sustainable urban growth. By collaborating across the industry, Toronto can transform current challenges into a foundation for a resilient, equitable urban future.

A new construction project could replace Caledonia Bakery with an 18-storey mixed-use tower in Corso Italia-Davenport, Toronto. The development proposed by 2003801 Ontario Ltd. requires a zoning change to allow for increased height and aims to integrate 211 condo units and retail space. If approved, this project, alongside other nearby developments, would transform the mostly low-rise neighborhood, offering new housing close to public amenities and transit.

GWL Realty Advisors has unveiled plans to complete a historic Toronto project initially envisioned 100 years ago as a Canadian version of New York's Rockefeller Center. The project involves redeveloping the existing seven-storey structure at College Park into a mixed-use complex with three high-rise towers containing over 2,300 housing units, a hotel, retail, and entertainment spaces. The development aims to preserve the Art Deco style of the original building while adding modern architectural elements. The plans are currently in the planning approval phase, with community feedback playing a role in shaping the design.

The Canada Mortgage and Housing Corporation (CMHC) is drastically shifting its focus from supporting homeownership to driving rental housing development. In its 2024 report, CMHC highlights a significant increase in insurance for multi-unit buildings and a decrease for single-family homes. This pivot aligns with economic, climate, and urban policy objectives but raises concerns about potentially widening wealth gaps and impacting homeownership accessibility in Canada. As CMHC becomes a major player in rental housing, it holds significant influence over the country's housing market direction.

A Bridle Path mansion in Toronto has been listed for sale at $32.57 million, making it the second most expensive property on the market in the city. Situated in the prestigious 'Millionaire's Row,' this grand estate offers luxury amenities including a home theatre, a spa, a gym, an indoor pool, and a sports court. The mansion features classical architecture with modern luxuries and is located near attractions like Crescent School and the Granite Club.

Harvey Kalles, the founder and CEO of Harvey Kalles Real Estate Ltd., passed away at the age of 98. Kalles founded the real estate brokerage in 1957, which has grown into one of the largest independent brokerages in Canada. The company, managed by his son Michael as President, features over 300 agents and has achieved over $10 billion in sales in recent years. Kalles was remembered for his dedication to his family and his integrity in business.

Hollyburn Properties Ltd. has submitted a proposal to the City of Toronto to replace a 10-storey rental apartment at 48 Isabella Street with a new 69-storey skyscraper. This development would include 814 residential units and significant amenity spaces but no parking provisions. The initiative aligns with other high-rise projects in the area as developers focus on the Isabella Street corridor. The architectural plans emphasize high-quality design with a two-storey podium and extensive bicycle spaces instead of car parking.

TransLink, the regional public transportation provider in Metro Vancouver, acquired a 5.06-acre industrial property for $63 million to expand its Vancouver Transit Centre. The transaction price per acre was significantly higher than the regional average, indicating a strong industrial real estate market despite rising vacancy rates. This acquisition continues TransLink's trend of expanding its real estate assets to support operations, following previous purchases and ongoing construction of new facilities. The broader Metro Vancouver industrial market is currently experiencing increased vacancies, although tenant demand is expected to recover as trade tensions ease.

A planned 32-storey flatiron building project in North York, Toronto has been placed under receivership due to a debt of over $28 million. The Ontario Superior Court granted the receivership order after the developer, Grmada Holdings Inc., defaulted on a loan, with the debt including accumulated interest and fees. The project site was approved by the City Council but has failed to progress due to financial troubles and a reported fire incident. TDB Restructuring Limited has been appointed as the receiver to handle the affected properties.