GTA New Condo Guide, Apr 26, 2014

COMING SOON A MASTERPIECE IN YORKVILLE.

All images are artist concept.

INSIDETHIS ISSUE

CORUM VOLORER IAEPERO INCTUR

OBIS AUT QUI ODIS EXPLIQUAS VOLO IUR REM

LAB IUM ACES QUISQUISQUI CUSA QUE NUS ODIT

CUMB 32941 Condo Guide Cover FA.indd 1 16/04/14 4:41 PM

INSIDE THIS ISSUE

BUY NEW AND BUY NOW!

MAKE YOUR MOVE CLEANER AND GREENER

HIGHRISE SALES SOAR IN THE GTA

Apr 26 - May 10, 2014 Volume 18 Issue 09

[ 3-WEEK ISSUE ]

CG_Cvr_Apr-26-2014.indd 1 14-04-17 2:13 PM

fold

6.875" x 10.5" OGFfold

Tridel. Everywhere you want to be.

tridel.com

TRI 23481 CG GF IFC OBC Apr 14.indd 1 4/2/2014 10:19 AM

THIS IS

YORKVILLEAT ITS VERY BEST

COMING SOON. A NEW SIGNATURE RESIDENCE AT CUMBERLAND

AND AVENUE ROAD IN YORKVILLE FROM $349,900.

A MASTERPIECE IN YORKVILLE.PREVIEW REGISTRATION | CUMBERLANDTOWER.COM

PRICES AND SPECIFICATIONS SUBJECT TO CHANGE. E.&O.E. BROKERS PROTECTED. RENDERING CONTAINS IMAGE OF SCULPTURE BY JEUME PLENSA WHO ALONG WITH OTHER INTERNATIONALLY RECOGNISED SCULPTORS HAS BEEN SELECTED TO SUBMIT ART PROPOSALS FOR SCULPTURES TO GRACE THE CUMBERLAND TOWER SCULPTURE GARDEN. ALL IMAGES ARE ARTIST CONCEPT.

RESIDENTIAL LOBBY VIEWED FROM AVENUE ROAD

CUMB 33303 Condo Guide.indd 1 16/04/14 5:10 PM

editors note

29 times, and still going?

Lydia McNutteditor

Wall2Wall [email protected]

Follow me on twitter at twitter.com/lydiastweets

SuSaN Leggeeditor-in-chieF

Wall2Wall [email protected]

Follow me on twitter at twitter.com/susanlegge

like us on Facebook search: condo guide

Want to get a feel for whats hot in the world of technology and design this year? All you have to do is visit todays gorgeous model suites and take a look around. Youre sure to be inspired and surprised.

Shopping for a new condominium is a great opportunity to see the latest technology and decorating trends while comparing features and finishes of different projects. Models bring floor plans to life, helping you envision what life might be like after you paint the white walls in the latest designer colours and set up your home office with all the latest gadgets and gizmos.

In terms of furnishings, a walk through any model home will prove that there is plenty of cutting-edge creativity being applied to models today. From simple suites to extravagant penthouses inspiration and a few surprises await you.

Speaking of extravagant, youll have noticed that this issue of New Condo Guide is polybagged with our spring issue of Luxury Living. From market news, trend talk and a Q&A with seven top home designers, enjoy this sneak peek into the world of luxury real estate.

inspiration, and a FeW surprises aWait

The Bank of Canada recently pegged the trend setting interest rate at one per cent for the 29th time in a row. Its great news if youre in the market for a new home and mortgage, but how long can this last?

Experts predict interest rates will stay put until at least mid-year, but dont take their word for it. If youre considering buying a home, get pre-approved for a mortgage while rates are still low. This locks you in at the current low rate for between 90 and 120 days while you shop without the worry of rate increases in the short term.

Aside from that peace of mind, do your due diligence and get the financial facts before you sign on the dotted line. Canada Mortgage and Housing Corp. offers some tips to help you manage your mortgage:

Calculate what you can afford. Your monthly housing costs (mortgage principal and interest, taxes, utilities and monthly condo fees) shouldnt exceed 32 per cent of your gross monthly income. Your entire monthly debt load (including housing costs, car loans, credit card payments, etc.) shouldnt exceed 40 per cent of your gross monthly income.

Dont spend the maximum you can afford. Its wise to set aside some savings for a rainy day.

Choose the shortest amortization period. This will increase your monthly payments but can also save a small fortune in interest payments over the life of your mortgage.

Stress-test your mortgage at a higher rate. If you can still afford to make all your payments, youre sitting pretty when rates do finally rise.

Welcome to the Private Residences atop Imperial Plaza. An iconic building in a coveted Forest Hill location, clad in limestone with impeccable granite and marble detailing, rich

in historical perspective and timeless in elegance. Majestic suites with up to 6000 sq. ft. of grand living space, ceiling heights that soar 10 and higher, and with breathtaking views

of the city. A dedicated express elevator, private elevator lounge, private fitness club and 24 hour concierge allow your everyday to unfold with grace. Move in this year!

The Private Residences from $1.35 million The Signature Residences from $985,900

Visit our Presentation Gallery at 1499 Yonge St. (just north of St. Clair)

IMPERIALCONDOS.CA 416.925.2501

AT AVENUE & ST. CLAIRP R I V A T E R E S I D E N C E S

Exclusive Listing Brokerage Milborne Real Estate Inc. Brokers Protected. Prices and specifications are subject to change without notice. Illustrations are artist concept. E.&O.E.

THIS RARE OPPORTUNITY IS ABOUT TO BECOME HISTORY.

TAKE YOUR EXPRESS ELEVATOR HOME.

IMP2 33304 Condo Guide.indd 1 16/04/14 5:14 PM

APR 26 - MAY 10, 2014 NEW CONDO GUIDE 003

LegaLLy Speaking Jayson SchwarzJayson Schwarz LL.M is a Toronto real estate lawyer and partner in the law firm Schwarz Law LLP. Visit the website at schwarzlaw.ca or email [email protected].

BiLD RepoRt Bryan TuckeyBryan Tuckey is president and CEO of the Building Industry and Land Development Association (BILD) and can be found on Twitter (twitter.com/bildgta), Facebook (facebook.com/bildgta), Youtube (youtube.com/bildgta) and BILDs official blog (bildblogs.ca).

DeSigneR aDvice Yanic SimardYanic Simard is New Condo Guides design editor and the principal designer of the Toronto Interior Design Group, specializing in residential and commercial projects. Simard has created designs for clients in Toronto, Montreal and Miami, and appears as a regular guest expert on Citytvs CityLine. Visit tidg.ca

conDo pRo Barbara LawlorBarbara Lawlor is president of Baker Real Estate Inc., and an in-demand columnist and speaker. A member of the Baker team since 1993, Barbara oversees the marketing and sale of condominium developments in the GTA and overseas.

vice-pReSiDent, WaLL2WaLL MeDia Jacqueline HilleDitoR-in-chief / DiRectoR of content Susan LeggeDiRectoR of SaLeS, nationaL Josh HeppneraSSociate puBLiSheR SWo neW hoMeS & LifeStyLe coMMunitieS Susan Maxwell aRt DiRectoR Sarah JangeDitoR Lydia McNuttcontRiButing eDitoRS Sara Duck Wayne Karl Elisa KrovblitDeSign eDitoR Yanic Simard

SaLeS ManageR Conni RobinsonSenioR account executive Dionne Fraser [email protected] account executive Nina Downs [email protected]

SaLeS & MaRketing co-oRDinatoR Terry BassettaDMiniStRative aSSiStant Antoinette Jackson

pRoDuction ManageR Bala GnanapandithanpRoDuction co-oRDinatoR Sandra Hanak-VujnovicgRaphic DeSigneRS Caroline Wassef Sandra Hanak-Vujnovic

#500-401 The West Mall Etobicoke, ON M9C 5J5 T 416.626.4200 F 416.784.5867

aDveRtiSing Call 416.626.4200 for advertising rates and information. ciRcuLation Free distribution in select high-traffic street boxes, stores, banks, financial institutions and select condominium sales offices. copyRight 2014 All rights reserved by Wall2Wall Media. Reproduction in any form is prohibited. Contents of this publication are covered by copyright and offenders will be prosecuted under the law. teRMS Advertisers, editorial content and new condo guide are not responsible for typographical errors, mistakes or misprints. All prices are correct as of press time and are subject to change without notice. E. & O. E. eDitoRiaL submissions from interested parties will be considered. Email to [email protected]. The views and data expressed by columnists do not necessarily represent those of the publication.

contributors neW conDo guiDe

Please recycle this magazine! Wall2Wall Media participates in the Partners in Growth Reforestation Program through St. Joseph Communications. To date, Partners in Growth has planted over 2.5 million trees in parks, recreation and conservation areas, and other public spaces across Canada. Established in 1990, this program was started with Scouts Canada to help replenish the environment.

Published By

inveStoR aDvice Andrew la FleurAndrew la Fleur is an award-winning realtor with Re/Max. Andrews expertise is in helping investors make money in the Toronto condo market. Visit TrueCondos.com/NewCondoGuide for a free gift. Contact Andrew at 416.371.2333 or [email protected]

Money MatteRS Gail Vaz-Oxlade Gail Vaz-Oxlade is the host of Til Debt Do Us Part, author of Debt Free Forever and blogs daily at gailvazoxlade.com. Follow Gail on Twitter at twitter.com/GailVazOxlade

inDuStRy inSiDeR David HirshDavid Hirsh is president and CEO of Brandy Lane Corp. David prides himself on his creative hands-on approach to all stages of the development and building process. The companys newest communities are Wyldewood Cove in Collingwood, and coming soon, The Davies, at Avenue Road and Cottingham. Visit BrandyLaneHomes.com.

ohBa RepoRt Joe VaccaroJoe Vaccaro is the chief executive officer of the Ontario Home Builders Association, which represents 4,000 member companies organized into a network of 31 local associations across the province. Together they build 80 per cent of the new housing in Ontario. ohba.ca

city Scene Brad J. LambBrad J. Lamb is president of Lamb Development Corp. and Brad J. Lamb Realty. Over the last 25 years he has successfully led the marketing and sales programs for over 100 condominium projects in Toronto, Ottawa, Montreal and most recently Calgary. Visit torontocondos.com or follow Brad on Facebook, Instagram and Twitter @BradJLamb

004 neW conDo guiDe ApR 26 - MAY 10, 2014

CONDOMINIUM RESIDENCES

AT YORKVILLE & YONGE

1YORKVILLE.CA

PRESENTATION LOUNGE 162 CUMBERLAND ST.

(416) 519-2911

1 BEDROOM & 1 BEDROOM + DEN

SUITESSTARTING FROM

$388,000

PRICES AND SPECIFICATIONS ARE SUBJECT TO CHANGE WITHOUT NOTICE. E. & O.E. RENDERING IS ARTISTS CONCEPT ONLY.@BazisInc

NEWRELEASE

BAZI-NO1-A-AD-CONDOGUIDE-MAR31-5.indd 1 14-04-04 8:05 AM


WHERE IN THE EMPIRE DO YOU WANT TO LIVE?

Celebrating 20 years in the building industry, Empire Communities continues to raise the bar in urban living with a range of iconic communities across the GTA.

EMPIRECOMMUNITIES.COM

REMARKABLE RESIDENCES. REMARKABLE MARKHAM.

Your fl oor. Your Suite. One Price.* Up to $10,000 cash back or 2 years free maintenance.*

SUITES FROM THE MID $200s** NOW OPEN TheMarkCondos.ca

MARKHAM9560 Markham Rd.

905.554.5015

16th Ave.

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N

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THE NEXT GENERATION OF WATERFRONT LIVING

Ask about our Opening Bonus of up to $80,000.*

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Parklawn Rd

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Marine

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Drive

N

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416.784.3482

LIVE LIFE ON TOMORROWS FAST LANE. MAKE THE SWITCH. GET CONNECTED TO THE HUB.

Ask about Empires Easy Buy Program & 5% Deposit Program.*

SUITES FROM THE MID $200s**

NOW OPEN EmpireTheHub.com

Eglinton Ave. W.

Dufferin St.

Glenholme Ave.

Oakwood Ave.

Allen Rd.

Subway St.

N

HWY 403/QEW

LAKESHORE RD.

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WYECROFT RD.

SPEERS RD.

DORVAL D

R.

TRAFALGAR RD

.

KERR ST.

LAKE ONTARIOLAKE ONTARIO

Hours: Mon-Fri 12-6,

Sat, Sun & Hol 12-5

521 Kerr St.,Oakville, L6K 3C9

RAINCONDOS.COM 905-845-RAIN (7246)*Some restrictions apply to $500 a month home ownership incentive, offer available on Phase 1 (north tower) only. RBC on site mortgage approval is required. Restrictions apply to the Easy Buy Program, Cash Back incentive, new release sales program, special Deposit Program, Easy Buy Program, The Opening Bonus of up to $80,000 and other incentives and sales programs which are site speci c. Limited time offer. Please see sales representative for details on programs and incentives. **Prices, sizes and speci cations are subject to change without notice. Exclusive Listing Brokerage: TFN Realty Inc. Brokers Protected. Renderings are artists concept. E.&O.E. April 2014.

PAY $5000 DOWN $500/MONTH FOR 18 MONTHS BALANCE OF 15% ON OCCUPANCY

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Now owning at Rain Condos, Oakvilles biggest success story just got easier. With spectacular suite designs and amenities including indoor pool, rooftop terrace lounge, exercise room and more, you wont believe what $500 a month can get you!

CONDOS FROM THE $200s** | NOW UNDER CONSTRUCTION

RAIN 33393 Condo Guide DPS_final.indd 1 2014-04-15 3:51 PM

006 NEW CONDO GUIDE APR 26 - MAY 10, 2014

WHERE IN THE EMPIRE DO YOU WANT TO LIVE?

Celebrating 20 years in the building industry, Empire Communities continues to raise the bar in urban living with a range of iconic communities across the GTA.

EMPIRECOMMUNITIES.COM

REMARKABLE RESIDENCES. REMARKABLE MARKHAM.

Your fl oor. Your Suite. One Price.* Up to $10,000 cash back or 2 years free maintenance.*

SUITES FROM THE MID $200s** NOW OPEN TheMarkCondos.ca

MARKHAM9560 Markham Rd.

905.554.5015

16th Ave.

Bur Oak Ave.

Mar

kham

Rd.

N

TORONTO2183 Lake Shore Blvd. W.

416.503.3328

THE NEXT GENERATION OF WATERFRONT LIVING

Ask about our Opening Bonus of up to $80,000.*

SUITES FROM THE LOW $300s**

NOW OPEN EauDuSoleilCondos.com

Parklawn Rd

LegionRd

Marine

Par

ade

Drive

N

TORONTO1603 Eglinton Ave. W.

416.784.3482

LIVE LIFE ON TOMORROWS FAST LANE. MAKE THE SWITCH. GET CONNECTED TO THE HUB.

Ask about Empires Easy Buy Program & 5% Deposit Program.*

SUITES FROM THE MID $200s**

NOW OPEN EmpireTheHub.com

Eglinton Ave. W.

Dufferin St.

Glenholme Ave.

Oakwood Ave.

Allen Rd.

Subway St.

N

HWY 403/QEW

LAKESHORE RD.

CORNWALL RD.

WYECROFT RD.

SPEERS RD.

DORVAL D

R.

TRAFALGAR RD

.

KERR ST.

LAKE ONTARIOLAKE ONTARIO

Hours: Mon-Fri 12-6,

Sat, Sun & Hol 12-5

521 Kerr St.,Oakville, L6K 3C9

RAINCONDOS.COM 905-845-RAIN (7246)*Some restrictions apply to $500 a month home ownership incentive, offer available on Phase 1 (north tower) only. RBC on site mortgage approval is required. Restrictions apply to the Easy Buy Program, Cash Back incentive, new release sales program, special Deposit Program, Easy Buy Program, The Opening Bonus of up to $80,000 and other incentives and sales programs which are site speci c. Limited time offer. Please see sales representative for details on programs and incentives. **Prices, sizes and speci cations are subject to change without notice. Exclusive Listing Brokerage: TFN Realty Inc. Brokers Protected. Renderings are artists concept. E.&O.E. April 2014.

PAY $5000 DOWN $500/MONTH FOR 18 MONTHS BALANCE OF 15% ON OCCUPANCY

HERES HOW IT WORKS:

$500A MONTH

HOMEOWNERSHIP EVENT*

TH E E M P I R E

OWNERSHIP EVENT*

Now owning at Rain Condos, Oakvilles biggest success story just got easier. With spectacular suite designs and amenities including indoor pool, rooftop terrace lounge, exercise room and more, you wont believe what $500 a month can get you!

CONDOS FROM THE $200s** | NOW UNDER CONSTRUCTION

RAIN 33393 Condo Guide DPS_final.indd 1 2014-04-15 3:51 PM


NOW OPEN

Exclusive Listing Brokerage, Circle M Realty Corporation, Brokerage. Brokers Protected. Illustration is artists concept. Prices and specifi cations are subject to change without notice. E. & O.E.

Live the life you love at the heart of everything Queen West. Discover a superb collection of Studios, 1 Bed, 1 Bed + Den, 2 Bed, 2 Bed + Den and 2Storey suites, plus a fi ne roster of lifestyle amenities. Visit the Presentation Gallery today.

CONDOMINIUMS AT QUEEN WEST & DOVERCOURT FROM THE $280S

1093 QUEEN ST. WEST MON-THURS: 12-7PM, FRI: CLOSED, SAT & SUN: 12-6PM

TEN93QUEENWEST.COM | 416 546 6355

its all about you

QUEEN ST W

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KING ST W

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SIN

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RAW. ORGANIC. UNSCRIPTED.

DOVE 33478 Condo Guide.indd 1 2014-04-21 4:41 PM


MISSISSAUGAS MOST STYLISH ADDRESSFROM THE $300sDISCOVER MISSISSAUGAS HIGHLY SUCCESSFUL MASTER-PLANNED URBAN COMMUNITY, JUST STEPS TO VIBRANT ERIN MILLS TOWN CENTRE WITH OVER180 SHOPS, DINING AND SERVICES. LIVE NEAR EXISTING PARKS, TRAILS, PUBLIC TRANSIT AND SCHOOLS. DOWNTOWN ERIN MILLS OFFERS A FINE COLLECTION OF CONDOMINIUM DESIGNS WITH OUTSTANDING FINISHES AND INSPIRED AMENITIES.

EXCLUSIVE LISTING BROKERAGE CIRCLE M REALTY CORPORATION. PRICES AND SPECIFICATIONS ARE SUBJECT TO CHANGE WITHOUT NOTICE. ILLUSTRATION IS ARTISTS CONCEPT E.&O.E.

905.603.6300DOWNTOWNERINMILLS.COMSALES CENTRE: 4635 METCALFE AVE. HOURS: MON. - THURS. 12-7 PM, SAT. & SUN. 12-6 PM, FRI. CLOSED

Erin Centre Blvd.

Eglinton Ave. W.

Win

ston

Chur

chill

Blvd

.

Glen

Erin

Dr.

Erin

Mills

Pkw

y.

Metc

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Miss

issau

ga R

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Credit Valley Rd.

Hwy. 403

EMCC 33477 Condo Guide Ad.indd 1 21/04/14 4:30 PM


// By Bryan tuckey Bild report

Bryan Tuckey is president and CEO of the Building Industry and Land Development

Association (BILD) and can be found on Twitter (twitter.com/bildgta),

Facebook (facebook.com/bildgta), Youtube (youtube.com/bildgta) and

BILDs official blog (bildblogs.ca).

The Ontario Municipal Board (OMB) doesnt get enough credit for the key role it plays in the development approval process.

The board provides an impartial, independent tribunal that is responsible for handling appeals of land-use planning disputes. It is removed from local political pressures and renders decisions in the broader public interest based on sound planning principles.

BILD fully supports the role of the board as an evidence-based body. According to the City of Toronto, only four per cent of all land-use applications go to the OMB and we feel that it does a good job in handling those disputes.

Its important to note that OMB decisions are based on evidence provided by expert witnesses. This ensures that long-term public policy objectives, rather than short-term political judgments, are observed.

This is an important issue now, because the City of Toronto staff is considering how to create a Local Appeal Body (LAB) with locally appointed officials handling disputes. Our industry feels that shouldnt occur until municipalities have operational experience.

In a letter to the City, BILD has recommended that it does not proceed with a LAB because it would cost too much and could involve conflicts of interest, as the board members would be appointed by council. City staff estimate that creating a LAB would cost $1.75 million per year, and that some of the costs would be paid through property taxes. To recover all costs of the LAB, it would cost about $6,000 per appeal application. It costs $125 to file an appeal to the OMB.

The OMB works, so why try to replace it? This is one of the arguments we made in our submissions to the province for its public consultations into the Development Charges Act and the Land Use Planning and Appeals System.

So, what does this mean for you? Despite what you may have read about the OMB, today many of the boards decisions have resulted in celebrated projects across Toronto. These success stories include the Distillery Historic District, 18 Yorkville, One Bedford and The Kings (King and Parliament, and King and Spadina). These five developments would not be what they are today without the decision-making of the OMB, and they have helped Toronto become a world-class city.

Contrary to the strong media perception that the OMB most often sides with developers, independent research by a leading expert on public policy, Aaron A. Moore, found that the OMB most often favours expert testimony of municipal planners, as they are considered to have greater autonomy than their private sector counterparts.

This is why the professional opinions of municipal planners are a critical component to the decision-making process.

It is an important planning principle to build complete communities and to do that, a land owner interested in participating has to research and study what the neighbourhood looked like in the past, what it looks like in the present and what it could be in the future.

But as a model for handling appeals of land-use planning disputes, we think the OMB works just fine.

OMB makes sound and fair decisions

Its important to note that OMB decisions are based on evidence provided by expert witnesses. This ensures that long-term public policy objectives, rather than short-term political judgments, are observed.

010 new condo Guide apr 26 - may 10, 2014

an iconic address

takes root

REGISTER FOR A PRIORITY PREVIEW AT 11WELLESLEY.COM 416-861-1111

CONDOMINIUMS ON WELLESLEY BETWEEN BAY & YONGE FROM $199,900Its time for something different. Introducing 11 Wellesley. Its a landmark condominium community on a lush and abundant city park,

where you can easily connect, thrive, and flourish. Steps to the subway, in the heart of Toronto, on Wellesley between Bay & Yonge,

you can coexist with the simplicity of nature. Its a magnificent refuge that links the electricity of city living with the beauty of a

substantial and spectacular park setting. Stunning suites, impressive amenities, and unparalleled views in every direction. Live Well.

Exclusive Listing Broker Milborne Real Estate Inc. Brokers Protected. Marketing Management by Anne Lambrou Living Visions Inc.

Prices and specifi cations subject to change without notice. Illustrations are artists concept. E.&O.E.

WELL 33426 Condo Guide.indd 1 2014-04-15 2:34 PM


table of contents

Apr 26 May 10, 2014 volume 18 issue 09

20

002 editors note

columnists

010 bild report OMB makes sound and fair decisions by bryan tuckey

014 mortgage Finesse Credit and debt management by calum ross

033 investor advice Should you invest in a new condo? by andrew la Fleur

034 legally speaking New-home purchases and HST by jayson schwarz & konstantine chatzidimos

036 oHba report Five great reasons to buy a brand new condo by joe Vaccaro

044 Home sweet Home Heres our list of demands by lydia mcnutt

050 Fundamentally speaking How to avoid your own moving horror story by wayne karl

052 taxing issues Buy a home when youre ready by henry choo chong

058 condo pro Condos: A first choice for a first home by barbara lawlor

064 industry insider Your handy new-home shopping top 10 list by daVid hirsh

066 money matters How to be debt-free forever by gail Vaz-oxlade

070 tarion report Inspect your new home carefully before you move in by howard bogach

078 designer advice The tile file by yanic simard

086 in tHe city Why I think interest rates are going nowhere by brad j. lamb

102 make your move Five tips for a cleaner, Greener move by chuck resnick

104 Quick tips Disciplined delegator, or drill sergeant? by hellen buttigieg

78

coluMns, news &

feAtures

Camrost Felcorp presents

Yorkville Plaza II: Cumberland

Tower

condo profiles

40 great gulF multi site Live greatly with Great Gulf

60 Fieldgate Homes 90 niagara Tour the fully decorated designer model suite at Niagara and Bathurst

72 eastons group dundas square gardens Old Toronto reborn with rise of Dundas Square Gardens

92 tridel & beaux properties 101 erskine Grand opening of The Lanes at 101 Erskine gives you the condo experience, from the ground up

120 castleridge Homes the clairington Luxurious park-side condos are coming where Brampton meets Woodbridge

in the news

016 monarcH corp. Riva del Lago welcomes spring with grand opening on the waterfront

018 condo outlook GTA highrise sales soar

038 tarion awards New home builders presented with awards for customer service excellence

048 bank oF canada Bank of Canada maintains overnight rate target at 1%

068 edilcan Good things come in threes at Valhalla

076 streetcar developments The Taylor Lofts in Leslieville celebrates grand opening

084 rbc economics Ontarios economy poised for growth in 2014

089 doors open toronto Explore the secrets and spirits of Torontos sites

100 sHiu pong Celsius Condominium has reached the top!

122 Forest green Homes Streetsville welcomes Kingsmill, new community by Forest Green Homes

homebuyers help

030 Hot topic Four reasons to choose a Green home

032 Hot dates Whats happening in and around the GTA

088 condo watcH 416 Previews, new releases and grand openings in the 416

112 condo watcH 905 Previews, new releases and grand openings in the 905

116 style File The humble chair by laura stein

118 condo Hunters cHecklist

129 condo buyers resource section You love the home, see what you can afford

134 index oF advertisers

72

40

60

92120

As the credit system continues to evolve in Canada, consumers are getting increasingly confused with a greater variety of credit products from a greater variety of financial institutions. In fact, the average Canadian gets more correspondence from financial institutions than they do from family and friends combined. (What have we come to?) To further complicate matters, institutions are granting credit to consumers at a pace never seen before.

The combination of increasingly sophisticated marketing techniques to consumers coupled with more and more available credit truly becomes too much temptation for many people to bear.

Consumer debt is a major issue in North America. The concept of keeping up with the Jones has destroyed both peoples financial health and their personal lives. What I am here to tell you is that you dont need to fall into this trap!

Here are some simple guidelines that will prevent you from becoming yet another consumer credit victim:01 Control spending by knowing exactly where every dollar goes. Tracking your spending habits in detail periodically will enlighten you in ways that you never considered. While doing this on a monthly basis is not realistic, try to do this in detail for at least one month a year. Helpful tip If you and your spouse spend $3 per day on coffee, this totals $1,095 per year. Depending on your tax bracket, this amount could represent over $2,000 in pre-tax income. Is the free coffee at your office that bad?

02 Watch your liquidity closely. Liquidity refers to your ability to pay your short-term debt obligations. Watching what available funds you have to pay upcoming debt obligations is fundamental to avoiding credit problems. Helpful tip Think carefully before using purchase programs that require no payments for a set period. If you cant afford to pay for it now, should you buy it?

03 Develop a realistic budget and live by it always. A good budget must have specific financial goals with a clearly defined time horizon. Be sure to take into account all of your payments, including loans, utilities and dry cleaning. If you pay for it monthly, it should be allocated in your budget. You cant be too detailed. Most financially successful people are excellent financial planners. They have investment plans, loan repayment plans and a clear idea of how much time they need before they can purchase big-ticket consumer items. Helpful tip Also be sure to budget for some kind of treat on a periodic basis. All work and no play often results in failure.

While these rules seem fairly simple, they are a little like a diet easy to start but tough to follow through. Despite popular opinion, material items will not bring you happiness.

While it may not seem like it today, forgoing that purchase to save for your childs education (or your retirement) may make you feel a lot better in the long run (despite what the commercials may lead you to believe).

Until next time happy home and mortgage hunting.

mortgage finesse // by Calum ross

Calum Ross is senior vice-president and practicing mortgage agent with The

Mortgage Centre. He has appeared on Canada AM, Investment Television,

BNN and Citytv. He holds an MBA in finance and is an accredited mortgage

professional. He can be reached at 416.410.9905.

Credit & debt management

014 new Condo guide apr 26 - may 10, 2014

COMING THIS MAY!TO DOWNTOWN EAST

One Park Place North Tower was such an incredible success that we decided to introduce

There are so many reasons to choose ONEAlready under construction, One Park Place South Tower is the newest addition to the internationally recognized and award-winning Regent Park revitalization. O ering incredible views of Lake Ontario as well as the city skyline and situated just steps from some of the citys hottest new amenities including Daniels Spectrum, the Aquatic Centre and a soon to open 6-acre park, as well as shopping, restaurants and the convenience of the TTC, One Park Place South Tower is the ONE place to be in downtown Toronto.

*The First Home Boost Program is only available on a limited number of suites. Conditions apply.

Exclusive Listing: CityLife Realty Ltd. Brokerage. Brokers Protected. Illustrations are artists concepts. Prices and specifi cations are subject to change without notice. E.&O.E. All brand names, logos, images, text and graphics are the copyright of the owners, The Daniels Corporation. Reproduction in any form, without prior written permission of The Daniels Corporation, is strictly prohibited.

REGISTER NOW

416.955.0559danielsoneparkplace.com

DOWNDOWN5%5%BUY WITHBUY WITH

SUITES FROM

$199,900

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*

DANOPS14041 Condo Guide FP APRIL.indd 1 2014-04-14 3:05 PM

in the news

Riva del lago welcomes spRing

with grand opening on the waterfront

monaRch Recently hosted a gRand opening event for their boutique condo, Riva del Lago. Prospective residents gathered in Monarchs sales office to enjoy some snacks and beverages while browsing floor plans and model rooms. Located at 2151 Lake Shore Blvd. W., Riva del Lago is Monarchs seventh contribution to The Humber Bay Shores waterfront area.

Riva del Lagos location is a huge draw for those looking to buy. The 14-storey condo will stand on a five-storey podium allowing for a great view of the lake and Torontos skyline. Residents will have the luxury of living directly across from the Martin Goodman Trail, a 56-kilometre path system that runs along the shoreline. Its location also offers the best of both worlds; placed right in the heart of a flourishing neighbourhood, Riva del Lago enjoys a suburban feel while being just minutes away from downtown Toronto.

The condo also has some great amenities. It will feature a beautifully designed two-storey lobby, a party room with a bar that opens to a private terrace, a big-screen theatre for private screenings and an underground car wash. For all the dog lovers out there, the condo is extremely pet-friendly. There will be a separate lobby consisting of a Pet-Tie Wash

an exclusive room to clean off your pets after a stroll outside.

If youre looking to go Green, the building will support an eco-friendly lifestyle. Monarch has integrated several environmental initiatives to help reduce the buildings energy consumption such as individually controlled heating and air conditioning systems and Energy Star-rated appliances.

Suites start from the low $300s and residents will start moving in toward the end of 2016.

For more information, visit monarchgroup.net.

016 new condo guide apr 26 - may 10, 2014

first.discover moreMonarchGroup.netPrices, specifications and promotions are subject to change without notice. E.&O.E.

NOW OPENON THE WATERFRONT

MONARCH COMMUNITIES

SALES CENTRE HOURS: Mon.- Thurs. 12pm - 6pm, Weekend & Holidays 12pm - 5pm, Closed Fridays

MARKHAM | GARDEN COURT | UNDER CONSTRUCTION | FROM THE $400s Appointment Only416-495-3595

ETOBICOKE WATERFRONT | LAGO | UNDER CONSTRUCTION | FROM $219,990 Sales Centre located at 2167 Lake Shore Blvd. W.416-495-3544

DOWNTOWN TORONTO | PICASSO | UNDER CONSTRUCTION | FROM THE $400s Sales Centre located at 256 Queen St. W.416-495-3549

THE KINGSWAY | EPICUREAN | NOW OPEN | FROM $241,990 Sales Centre located at 4195 Dundas St. W.Entrance on Prince Edward Dr.416-495-3530

ETOBICOKE WATERFRONT | WATERSCAPES | UNDER CONSTRUCTION | FROM $399,990 Sales Centre located at 2167 Lake Shore Blvd. W.416-495-3544

ETOBICOKE WATERFRONT | RIVA DEL LAGO | NOW OPEN | FROM THE $300sSales Centre located at 2167 Lake Shore Blvd. W.416-495-3544

Visit

MONARCHGROUP.NET

*Prices, specifications and promotions are subject to change without notice. Rendering is artists concept and image is for mood and impression only. E.&O.E.

Waterfront Boutique Condos from the $300s*

Visit MonarchGroup.net

GARDINER EXPRESSWAY

Lake Shore Blvd. W

Marine Parade Dr.

Par

k La

wn

Rd

.

SalesCentre

Lake Ontario

Sales Centre located at 2167 Lake Shore Blvd. W.Etobicoke, ON M8V 0A8416-495-3544

Riva is making a splash on the Humber Bay Shores waterfront. Private, personal boutique chic.This is Riva del Lago! A personal, private, refined condominium residence right on the waterfront. Glorious views. Spacious suite designs. All on a scale that connects you to the waterfront. Because Riva is not like the rest.

Renderings are artists concept and images are for mood and impression only. E.&O.E.

SPECIAL PROMOTIONS!

GRAND OPENING

first.discover moreMonarchGroup.netPrices, specifications and promotions are subject to change without notice. E.&O.E.

NOW OPENON THE WATERFRONT

MONARCH COMMUNITIES

SALES CENTRE HOURS: Mon.- Thurs. 12pm - 6pm, Weekend & Holidays 12pm - 5pm, Closed Fridays

MARKHAM | GARDEN COURT | UNDER CONSTRUCTION | FROM THE $400s Appointment Only416-495-3595

ETOBICOKE WATERFRONT | LAGO | UNDER CONSTRUCTION | FROM $219,990 Sales Centre located at 2167 Lake Shore Blvd. W.416-495-3544

DOWNTOWN TORONTO | PICASSO | UNDER CONSTRUCTION | FROM THE $400s Sales Centre located at 256 Queen St. W.416-495-3549

THE KINGSWAY | EPICUREAN | NOW OPEN | FROM $241,990 Sales Centre located at 4195 Dundas St. W.Entrance on Prince Edward Dr.416-495-3530

ETOBICOKE WATERFRONT | WATERSCAPES | UNDER CONSTRUCTION | FROM $399,990 Sales Centre located at 2167 Lake Shore Blvd. W.416-495-3544

ETOBICOKE WATERFRONT | RIVA DEL LAGO | NOW OPEN | FROM THE $300sSales Centre located at 2167 Lake Shore Blvd. W.416-495-3544

Visit

MONARCHGROUP.NET

*Limited time only. Some conditions apply. Please ask a sales representative for full details. Prices, specifications and promotions are subject to change without notice. Renderings are artists concept and images are for mood and impression only. E.&O.E. 9379

discover moreMonarchGroup.net

Monarchfirst.In the Kingsway

EPICUREAN SALES CENTRE 4195 Dundas Street West (Entrance on Prince Edward Dr.) Etobicoke, ON Tel: 416-495-3530

SALES CENTRE HOURS: Mon.- Wed. 12pm - 6pm, Weekend & Holidays 12pm - 5pmClosed Thursdays & Fridays

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Ave.

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Youre ready for The Kingsway and the many comforts of Etobicokes most prestigious address. Experience assured elegance just a short stroll from the Humber River Valley, minutes from a world of shops, services and restaurants. At a price that will make you visit Monarch first.

Studios to 2 bed+densfrom 430 sq.ft. to 1175 sq.ft., some with large terraces!

Priced from the mid $200,000s*

ASK ABOUT OUR LIMITED TIME INCENTIVES

in the news

GtA hiGhrise sAles soAr

New-home buyers in the GTA have

benefited from a significant increase

in new highrise project launches so

far this year

sAles of hiGhrise condominiums in the GtA hAve surGed in the first quarter of 2014, the Building Industry and Land Development Association (BILD) announced recently.

According to RealNet Canada Inc., BILDs official source for new-home market intelligence, new-home purchasers across the GTA have made the years first quarter the strongest in the last decade. The region has experienced eight consecutive months of year-over-year increases in total sales.

Highrise sales in the first three months of the year have risen 68 per cent from 2013 a sign that consumer confidence in the condo market has returned. So far this year, 2014 has seen the strongest January and March when it comes to highrise sales in the last decade.

New-home buyers in the GTA have benefited from a significant increase in new highrise project launches so far this year, says BILD president and CEO Bryan Tuckey. These projects have presented consumers with plenty of options when it comes to finding their new home.

The building industry is committed to building homes people can afford to purchase. Our members have been heavily focusing on assisting purchasers with deposit and rental guarantee programs.

The lowrise sector also saw a significant increase up 56 per cent over March 2013 and 51 per cent over the previous years first quarter.

The RealNet New Home Price Index showed a three-per-cent increase in the lowrise sector over March 2013, bringing the average purchase price of a detached, semi or townhome in the GTA to $657,961. Pricing for highrise homes increased two per cent to $436,898.

source: realnet canada inc. With more than 1,400 members, BILD, formed through the merger of the Greater Toronto Home Builders Association and Urban Development Institute/Ontario, is the voice of the land development, home building and professional renovation industry in the Greater Toronto Area. BILD is proudly affiliated with the Ontario and Canadian Home Builders Associations.

Region 2012 2013 2014 2012 2013 2014 2012 2013 2014Durham 262 188 249 13 3 4 275 191 253Halton 238 96 186 121 130 120 359 226 306Peel 593 328 585 326 65 32 919 393 617Toronto 115 31 30 1,428 846 2,109 1,543 877 2,139York 617 343 581 195 175 231 812 518 812GTA 1,825 986 1,631 2,083 1,219 2,496 3,908 2,205 4,127Jan-Mar 4,559 2,632 3,966 3,788 2,960 4,962 8,347 5,592 8,928

march 14 lowrise highrise total


@BazisInc 416.243.8688

ECONDOS.CA

Prices and specifi cations are subject to change without notice. E. & O.E.

CONSTRUCTION STARTING THIS SPRING

Condominium Residences at Yonge and EglintonDirect subway access - Starting from the $300s

Presentation Offi ce located at 2300 Yonge Street, Lobby

BAZI-ECO-A-AD-CONDOGUIDE-FEB4-2.indd 1 14-02-04 4:30 PM


cover story

Historically, torontonians Have come to associate

tHe yorkville neighbourhood with its lane ways, boutiques and fine dining restaurants. In recent years, marketers have tried to expand the neighbourhood and the boundaries of this iconic areas brand, however, the real Yorkville sits between Cumberland Street and Yorkville Avenue, Avenue Road and Bay Street.

Here, within the heart of Yorkville, is a new condo development from Camrost Felcorp, called Yorkville Plaza II: Cumberland Tower.

Following the success of the first phase, The New Residences of Yorkville Plaza (already 92 per cent sold), Yorkville Plaza II: Cumberland Tower is set to bring the ultimate in luxurious Yorkville living to its purchasers.

Offering buyers a landmark location in one of Torontos most coveted neighbourhoods, this condo residence is just steps from high-end Bloor Street shopping, Whole Foods Market, the ROM, University of Toronto, and an array of gourmet restaurants and eateries. Camrost Felcorps president and CEO, David Feldman, attributes an enviable location and luxurious offerings as the two key factors that will drive Yorkville Plaza II to succeed.

Yorkville Plaza II will incorporate the latest design principles with thoughtfully laid out interiors, beautiful landscaping, top-notch amenities and state-of-the-art security systems, says Feldman. We are truly offering purchasers the best that Toronto has to offer.

Standing at 40 storeys, the WZMH-designed limestone, granite and glass tower will boast 272 suites in the Tower Residences (floors four to 25), ranging from one-bedroom (385-sq.-ft.), to two-bedroom-plus-den (855-sq.-ft.) designs.

Yorkville Plaza ii: Cumberland Tower aT avenue and Cumberland

CamroST FelCorP oFFerS THe Yorkville ToronTo knowS and loveS

020 new condo Guide apr 26 - may 10, 2014 apr 26 - may 10, 2014 new condo Guide 021

and finishes, to the spectacular services and amenities in the building, each resident will be able to enjoy the building to the fullest.

Greeting residents as they arrive will be the sweeping porte cochere driveway, complete with an avant-garde art installation in the Sculpture Garden, while the lobby, lounge, and amenity spaces will exude elegance and sophistication. A reception lounge and dining room will be perfect for entertaining, with access to the outdoor terrace, complete with a modern gas barbecue, an outdoor kitchen and an enchanting water feature. Guests staying the night will be able to reside in one of the well-appointed two guest suites.

Fitness enthusiasts will be able to work out in the fully equipped, state-of-the-art fitness auditorium, while residents looking to either take a refreshing dip or lounge in the sun can do so at the Aquatics Centre, which will include an indoor pool and whirlpool spa, with a walkout to the gorgeous outdoor sun deck and lounge.

A coveted Yorkville location, superb suite design and unparalleled amenities, Yorkville Plaza II: Cumberland Tower is truly a once-in-a-lifetime chance to be part of something special.

For more information on Yorkville Plaza II: Cumberland Tower, register online at thecumberland.ca. The future sales centre will be located at 135 Yorkville Ave.

With Tower Residences starting at $350,000 and ranging up to $750,000, Camrost Felcorp has ensured buyers a wide array of price options.

Suites will boast expansive floor-to-ceiling windows and tall smooth-finished ceilings, as well as an array of high-end materials including high-quality laminate plank flooring.

Gourmet kitchens will offer custom-designed cabinetry with stone countertops, premium Miele appliance package, complete with four stainless steel Miele appliances fully integrated into kitchen cabinetry, and a single stainless steel under-mounted sink with a single-lever pull-out faucet. Spa-like bathrooms will feature porcelain tile floors, a luxurious white soaker tub and separate frameless glass shower stall, and a stylish vanity mirror with integrated lighting.

The beauty of this project is that with every residential suite comes the same level of luxury, assures Feldman. From the stunning suite features

Yorkville Plaza II will incorporate the latest design principles with thoughtfully laid out interiors, beautiful landscaping, top-notch amenities and state-of-the-art security systems


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UP TO $10,000 OFF SELECT SUITES.MOVE IN THIS YEAR! THE CORNER OF

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*Deposit structure: $5000 with the offer, balance to 5% in 30 days, balance to 20% on occupancy. SOUTHAMPTON AND NOTTINGHAM ONLY, BALANCE TO 10% ON OCCUPANCY. ** Free Upgrades may vary depending on suite plan. (Suite 102 and 104 do not have gas hook up for fi replace and cook top). All promotions may be changed and/or cancelled at any time without notice. Prices and specifi cations subject to change without notice. *Please speak to Sales Representative for full details. Exclusive Listing Broker Milborne Real Estate Inc. Brokers Protected. Marketing Management by Anne Lambrou Living Visions Inc. Prices and specifi cations subject to change without notice. Promotions may be changed and/or cancelled at any time without notice. Illustrations are artists concept. E.&O.E.

SPECIAL SUITE OF THE MONTH PROMOTION

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30 OLD MILL ROAD, TORONTOMONDAY - WEDNESDAY: 12PM - 6PM SATURDAY & SUNDAY: 12PM 5PM, THURSDAY, FRIDAY & HOLIDAYS: CLOSED

BLOOR STREET WEST

OLD MILL INN

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E ST

REET

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MIL

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OLDM 33417 Condo Guide.indd 1 2014-04-15 11:40 AM


7 M4101-1C.inddRoundJob Description: Mechanical Specifications: Contact:

Leo Burnett 175 Bloor Street E. North Tower, 13th Floor Toronto, ON M4W 3R9 (416) 925-5997

Client: TD BANKDocket #: 112-LTDCOFU4101Project: SMO MORTGAGE MAGAZINE Ad #: M4101-1C

Bleed: 8.5 x 11.25 Trim: 7.5 x 10 Live: 6.5 x 9File built at 100% 1 = 1

Acct. Mgr: GENEVIEVE/CHRISTIANCrea. Dir: LISA GREENBERGArt Dir: -Writer: -

Producer: BARRY DUROCHERStudio: GRAHAM BOWMANProofreader: PETER/RADYAH

Colours: 4C Start Date: 2-10-2014 4:39 PMRevision Date: 2-18-2014 1:46 PMPrint Scale: 100%

Comments: Calgary New Home Guide, Calgary Resale Home Guide, Edmonton New Home Guide, Edmonton New Condo Guide, Ontario New Home Guide-GTA, Ontario New Home Guide-Eastern, Ontario Condo Guide-GTA, Ontario Resale Home and Condo, New Home Guide-SWO, Vancouver

Publication: **see comments**

1 Conditions apply. See us for details. The TD logo and other trade-marks are the property of The Toronto-Dominion Bank.

Visit a branch or tdcanadatrust.com/paymentvacation

Take time off from your mortgage payments.

A fl exible mortgage from TD lets you dedicate time to

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Dear Mortgage, Im taking time off to give something back.

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ontario.indd 1 2/19/14 12:29:52 PM


2 BEDROOMLEASEBACK PROGRAM$3,000/MONTH FOR 2 YEARS

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PRESENTATION CENTRE373 King Street West, Suite 302Toronto, ON M5V 1J6

OPENING HOURSMonday to Thursday12pm-6pmSaturday & Sunday12pm-5pmClosed Friday

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SUITES FROM THE MID $400,000s

*Limited time offer conditions apply. See Sales Representative for full details. **Some exceptions apply. Exclusive Listing: CityLife Realty Ltd, Brokerage. Brokers Protected. Prices, specifi cations and programs are subject to change without notice. Illustrations are artist concept. E. & O.E. All brand names, logos, images, text and graphics are the copyright of the owners, The Daniels Corporation. Reproduction in any form, without written permission of The Daniels Corporation, is strictly prohibited.

HOURS: Mon and Tues: 12-6pm Wed: 12-8pm Thurs and Fri: Closed Sat and Sun: 12-5pm

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ARTI 33423 Condo Guide Ad.indd 1 2014-04-17 5:10 PM

Hot topic

4 reasons to choose a

Green Home1 energy savings: Today, 17 per cent of all energy used in Canada goes toward running our homes. We consume a significant amount of energy for heating our homes in the winter and cooling them in the summer, and dont forget about the energy we use to heat water used for bathing and cleaning. Imagine the savings on your energy bills if you choose an energy-efficient new home.

2 Better to live in: Energy-efficient homes have fewer of those uncomfortable drafts and cold spots. Some homes have specially designed ventilation systems that bring fresh outdoor air in and send stale indoor air out. R-2000-certified homes, for example, are built using healthier building materials, such as low-VOC (volatile organic compounds) paints, flooring, and cabinets to further improve indoor air quality.

3 Better for the environment: Most of the energy we consume in Canada comes from fossil fuels. As a result, the energy we save in heating, cooling and powering our home will help reduce our environmental footprint. In addition, using energy-efficient light bulbs, low-flow shower heads, and water-conserving toilets will all contribute to a Greener home. Many new energy-efficient homes are even being built using insulation, drywall or wood trim manufactured using recycled materials.

4 Affordability: Buying expensive, custom-built homes used to be the only way to acquire an energy-efficient home. Today, thanks to initiatives such as Leadership in Energy and Environmental Design (LEED), the EnerGuide rating system, R-2000 Standard and Energy Star for New Homes, consumers looking to achieve greater energy efficiency at home have a much wider array of energy-efficient options to choose from.

If you are planning to buy a new home in the coming months, spend some time on the NRCan website at newhomes.nrcan.gc.ca or call 1.800.O.Canada (1.800.622.6232) for more information on the various energy-efficiency programs that are available in Canada. NC

Consumers looking to achieve greater energy efficiency at home have a wider array of energy-efficient options to choose from


NEW PRICING FROM THE $300SONLY 5% DEPOSIT * UP TO $20,000 CASHBACK NEW FLOORPLANRELEASE10-FT CEILINGSAND ALL THAT CHAZ.Yorkville living at Chaz.Yorkville sets the bar high! What do you want to get out of city

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EXCLUSIVE BROKER BAKER REAL ESTATE INC. BROKERS PROTECTED. *SPEAK TO A SALES REPRESENTATIVE FOR MORE DETAILS.

PRICES AND SPECIFICATIONS ARE SUBJECT TO CHANGE WITHOUT NOTICE. ILLUSTRATIONS ARE ARTIST CONCEPT. E&O.E.

VISIT THE SALES CENTRE TODAY!CHAZYORKVILLE.COM | 416.922.0045SALES CENTRE LOCATED AT 101 YORKVILLE AVE. SITE LOCATED AT 45 CHARLES ST. EAST MON. THURS. & SAT. SUN.: 12PM 6PM, FRI.: 2PM 6PM, STATUTORY HOLIDAYS: OPEN

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CHAR 33411 Condo Guide.indd 1 14/04/14 5:21 PM


hot dates

Apr 26

Grand opening at The Taylor

hiGhliGhTs

Until MAy 4

hot Docs international Documentary

Festival

April 2014Calendar of events taking place from

April 26 May 10

Apr. 25 27Green living ShowDirecT enerGy cenTre exhibiTion PlAce, 100 Princes blvD.Learn about sustainable living with a visit to the Green Living Show Canadas largest Green consumer show. Explore over 400 exhibits, sample local food prepared by renowned chefs, and check out the stages showcasing everything from eco friendly cooking, health and wellness, to home and products, kids zone, and yoga and fitness demos. Visit online for tickets.greenlivingshow.ca

Until May 4Hot Docs international Documentary Festivalbloor hoT Docs cineMA 506 bloor sT. W.Take in North Americas largest documentary festival, presenting 197 titles from 43 countries in 12 screening programs over 11 days at the Bloor Hot Docs Cinema. Tickets can be purchased online at hotdocs.ca, by calling 416.637.5150, or at the box office at 2 Bloor St. W., Cumberland Terrace on the lower level. Visit online for a full schedule and more details. hotdocs.ca

May 6 10Canadian Music WeekvArioUs venUes Across ToronToCanadian Music Week is now in its 32nd year, and music lovers and entertainment seekers will once again flock to this annual event featuring music conferences, shows, films and concert series at various venues in downtown Toronto. This years headliners include Canadian sister act Tegan and Sara, City and Colour and M.I.A., among others. Visit online for a full list of shows, events and participating venues, and to purchase tickets.cmw.net

Apr. 26Grand opening at the taylor43 DAvies Ave.Get a taste of the cool Leslieville lifestyle and drop by the grand opening of The Taylor Lofts Streetcar Developments new condominium consisting of 96 modern lofts in this popular part of town. Take advantage of the limited-time purchasing incentives and check out f loor plans, a model kitchen and the fab finishes.taylorlofts.ca

MAy 6 10

canadian Music Week

Apr 25 27

Green living show

032

menkes.com

Life Storeysnow a best-seller.

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MEN 22948 CG 4PG Ad April New Campaign 14.indd 1 14-04-17 12:20 PM

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MEN 22948 CG 4PG Ad April New Campaign 14.indd 4 14-04-17 12:21 PM

new condo?

investor advice // by andrew la fleur

You have some money saved up and its not doing anything in the bank. Investing in a condo has always been something youve thought about, and now you are finally ready to take action. Good! Now the question that keeps coming up in your head is, should you invest in a condo this year?

The question behind the question is, will I be better off if I wait?

Waiting for the stars to align or trying to time the market is a fools game. Instead, you should first decide that you are going to invest in a new condo, then make a plan, and go out and do it.

You absolutely should invest in a new condo this year, but there are a few things you need to know:

everything that youve heard is wrong The first thing you need to know is that everything youve heard about the condo market is wrong.

It seems everyone has an opinion on the real estate market, and whether or not there is a condo bubble in Toronto. We hear the so-called experts chiming in just about every week from New York or who-knows-where, telling us that our market is 25 or 50 or 2,000 per cent overvalued, and that its all going to crash.

Every party you go to, every family gathering, the topic of real estate seems to come up and everyone has their own opinion and reason why you shouldnt invest in a new condo.

The problem with all these opinions is the source: they are all people who have never invested in the condo market. They have no skin in the game! Asking someone who has never invested in the condo market if you should invest is like asking a vegetarian if you should eat a hamburger! You know what the answer is going to be.

Put aside all the opinions and advice that youve heard, and do your own research. Talk to people who are investing in the market right now and figure out what makes sense to you, then act on it!

Good opportunities are always available Toronto is a massive city. We are the largest condo market in North America. Whether the market is going up, down or sideways doesnt matter, because there are great investment opportunities in every market.

Many people believe the lie that there are only good opportunities when the market is red hot, or that you should only buy if the market is severely depressed. Seasoned condo investors know this is not how the market works and they always evaluate every opportunity on its own individual merits.

Have a system and follow it In order to be a successful condo investor, you need to have a system and a plan in place that you follow.

If you are a seasoned condo investor and you have been doing this for a long time already, you likely have your systems in place and you keep following them because they have made you a lot of money.

If you dont have a system or a plan, or you dont know where to start, dont try to re-invent the wheel. Instead, contact a realtor who specializes in the pre-construction condo market someone who works with investors every day, who can help you figure out the best areas to invest in the market and how to make the most money over the long term.

When you follow the path already laid out by those who have come before you, everything becomes easy.

Should you invest in a

Andrew la Fleur is an award-winning realtor with Re/Max. Andrews expertise

is in helping investors make money in the Toronto Condo Market. Visit

TrueCondos.com/NewCondoGuide for a free gift. Contact Andrew at

416.371.2333 or [email protected]

Waiting for the stars to align or

trying to time the market is a fools game


to the transaction is directly related to the purchase price of the home. However, homebuyers are able to claim a rebate of some of the PST and GST. For example, the rebate associated with the PST portion of the tax is available for new homes priced up to $500,000. The PST rebate for new properties under $400,000 is six per cent of the purchase price (or 75 per cent of the eight-per-cent PST portion of the HST), with the rebate amount reduced for homes priced between $400,000 and $500,000. There is a similar rebate mechanism for the five-per-cent GST portion of the HST.

Its important to understand that the majority of Ontario builders incorporate the rebated amount of HST into the purchase price. This is because the HST rebate is immediately available only to purchasers who are buying new properties with the intent that they will be their primary place of residence or the primary place of residence of a family relation. In this case, the purchaser does not have to submit a rebate application directly to the Canada Revenue Agency (CRA). The purchaser will sign the rebate application and provide it to the builder, which will then send the rebate application to CRA when the builder claims a deduction in its net tax calculation for the amount of the rebate. Structured this way, the HST is effectively a non-issue for purchasers as the builder takes care of all the paperwork.

In cases where the purchased property will not be the principal residence of the buyer, but will instead be an investment property, it is the responsibility of the buyer to inform the builder. This is because the builder must add back the HST rebate to the purchase price which will have to be paid by the buyer upon closing. This does not mean that the HST rebate is lost to the buyer as they will have a two-year period in which to claim the HST rebate directly from CRA, provided certain guidelines are met such as a reasonable expectation that the first use of the property is or will be by a tenant occupying it as their primary place of residence for at least one year. Required supporting documentation will include the Agreement of Purchase and Sale, the Statement of Adjustments, the insurance policy on the property, as well as the lease with the first tenant. The rebate in this case is calculated in the same manner it is in respect of owner-occupied dwellings.

It is important to note that while investor-purchasers of new long-term rental accommodation are eligible for the HST rebate, speculators are excluded. Anyone who buys and rents a new freehold or condominium home must repay the full amount of the rebate (plus interest) if the property is sold within one year unless the new purchaser acquires it for use as their (or a relations) primary place of residence.

It is also important to note that lying to the builder about your intention to live in the new property when you will, in actuality, rent it out can cause you problems with the CRA. If you do this and the CRA finds out, you will be liable to pay back the full amount of the HST rebate you received on closing plus applicable interest and penalties. In addition, you will be swearing affidavits under oath or affirming the truth and you could be guilty of perjury.

The underlying legislation is more complex than it may appear from reading this article. For a comprehensive explanation of the HSTs impact on investor purchasers of new real estate, it is strongly suggested that you consult a lawyer.

legally speaking // by jayson schwarz & konstantine chatzidimos

Jayson Schwarz LL.M. is a Toronto real estate lawyer and partner in the law

firm Schwarz Law LLP. Visit schwarzlaw.ca or send an email to [email protected]

and give us your questions, concerns, critiques and quandaries.

Konstantine Chatzidimos is an associate in the law firm Schwarz Law LLP.

Homebuyers who visit our offices are often confused about the way the harmonized sales tax (HST) affects their transactions. This inspired us to write a few words in the hopes of demystifying this oft-misunderstood aspect of the new-home purchase.

Purchases of new freehold and condominium homes in Ontario unlike resale homes are subject to the HST. This is a combination of the eight-per-cent Ontario provincial sales tax (PST) and the five-per-cent federal goods and services tax (GST). The percentage of HST applicable

new-home purchases & hst

034 new condo guide apr 26 - may 10, 2014

ohba report // by joe vaccaro

Joe Vaccaro is the chief executive officer of the Ontario Home Builders

Association (OHBA). The OHBA represents 4,000 member companies organized into a network of 31 local

associations across the province. Together they build 80 per cent of the

new housing in Ontario. ohba.ca

buy a brand new condo

Decisions, decisions, decisions there are certainly lots of them to make when buying a home and one of the most significant is whether to buy a brand new home or a resale home.Last year there were more than 61,000 new home and condo starts

in Ontario, and in 2014 Canada Mortgage and Housing Corp. (CMHC) forecasts about 60,000 starts.

So, what makes thousands of consumers choose to buy a new home or condo versus a resale home? Here are five good reasons: design It all starts with design. Good home design begins with an understanding of how people live in their homes. Times have changed. Families have changed and with that, our lifestyles have evolved. New-home builders offer fresh, innovative plans and designs that meet the needs of todays consumers, using modern technology to build homes and condos that are attractive, highly functional and feel good to live in. These homes include efficient use of space, open layouts, plenty of natural light, functional kitchens, flexible space and of course, lots of storage something thats usually absent in older homes.

energy efficiency The energy efficiency of Canadian homes has improved substantially over the years. Thanks to major advances in building techniques and product innovation, todays new-home owner can expect to use only half of the energy required to operate a similar home built in 1950, and at the same time enjoy a far more comfortable living environment. From windows and insulation to state-of-the-art heating and air conditioning systems, todays new homes are superior when it comes to energy efficiency. And we can expect that advances in energy efficiency will continue to grow as the price of energy goes up and we, as a society, recognize our responsibility to conserve energy and reduce our own environmental footprint.

environmentally responsible products No doubt about it, todays new homes are much more environmentally friendly than those built 40 or 50 years ago. Great advances have been made in developing and manufacturing building products that contribute to the Greening of Canadian homes and condos. Manufacturers and suppliers are continually looking for ways to

5 great reasons to

036 new condo guide apr 26 - may 10, 2014 apr 26 - may 10, 2014 new condo guide 037

make their products and systems more acceptable to todays environmentally savvy customer.

safety In part because of changes to Ontarios Building Code over the years, new homes boast many products and features that ensure your home is a safe environment. Whether it is superior air ventilation and heating systems, stair railings and risers built to code, improved electrical components, or products with fewer gas emissions, a new home is built to an always-improving building code. A newly built home is also inspected during various phases of construction, ensuring that it is built to minimum energy efficiency as well as code and safety requirements.

warranty program In Ontario, builders must be registered with the Tarion Warranty Program which offers one of the best, most comprehensive warranty coverage programs in the country. New-home buyers benefit from deposit protection and protection against delayed closings or occupancies without proper written notices. New-home owners are also covered against defects in work and materials, and major structural defects.

The pluses of buying new really add up. Newly built homes and condos use advanced design, materials and construction techniques that provide buyers with a wide range of options and great value something to think about when you are making decisions about the purchase of a home.

Thanks to major advances in building techniques and product innovation, todays new-home owner can expect to use only half of the energy required to operate a similar home built in 1950, and at the same time enjoy a far more comfortable living environment

036 new condo guide apr 26 - may 10, 2014 apr 26 - may 10, 2014 new condo guide 037

in the news

new home Builders Presented with AwArds for customer service excellence

tArion wArrAnty CorP. is

PleAsed to AnnounCe the recipients of the 2014 Tarion Awards of Excellence, the only awards in Ontario that recognize new home builders based solely on homeowners satisfaction with their customer service delivery.

high-rise Builder CAtegory

(More than 100 highrise possessions per year) AwArd goes to... the tricar group, London FinAlists: the daniels Corporation, Torontodomicile, Ottawatridel, Torontoone sherway t4 inc., Toronto (A joint venture between Menkes and Great Gulf Homes) lArge volume Builder CAtegory

(More than 100 possessions per year) AwArd goes to... Fusion homes, Guelph

FinAlists: devonleigh homes inc., Orangevillegreat gulf homes, Torontomonarch Corporation, TorontoPidel homes, Guelph

medium volume Builder CAtegory

(21-100 possessions per year) AwArd goes to... Klemencic homes, TrentonFinAlists: geertsma homes, Bellevillegrey Forest homes, St. Catharines hayhoe homes, St. Thomaswrighthaven homes limited, Elora

smAll volume Builder CAtegory

(5-20 possessions per year) AwArd goes to... dwyer homes, Strathroy FinAlists: Castell homes, LondonCastlemount homes, Gormleylarry otten Contracting, Stratfords.l. witty Construction, Barrie van ei, Mount Pleasant

A home is the largest purchase most people will make in their lifetime, and to have an attentive and responsive builder is paramount in making this experience a positive one for all those involved, says Howard Bogach, president and CEO of Tarion Warranty Corp.

Congratulations to all recipients and finalists for being leaders in customer service.

The awards are based on the results of a comprehensive survey sent to almost 46,800 Ontario homeowners who took possession of a new home between Oct. 1, 2012 and Sept. 30, 2013. More than 6,400 survey responses were received, representing 14 per cent of consumers who bought a new home in Ontario during that time. The results were tabulated by Crunch Research in partnership with Harris Decima.

Survey questions covered every stage of the homeowner-builder relationship, from signing of the Agreement of Purchase and Sale, through construction, pre-delivery inspection, and after-sales service.

The Honourable Tracy MacCharles, Minister of Consumer Services, remarked on the outstanding accomplishments in customer service. Congratulations to the 2014 Tarion Awards of Excellence recipients. These builders demonstrate that excellent customer service can be an asset to your business and will have a lasting effect on homebuyers.

PiCtured ABove The Tricar Group, winner of the High-Rise Builder Category

038 new Condo guide apR 26 - may 10, 2014

Model photography may vary from actual Model Suites Exclusive Listing: CityLife Realty Ltd, Brokerage. Brokers Protected. *Daniels Rent-To-Own Program is only available on a select number of suites. **Metropass is only available on select suites. See Sales representative for full details. Prices, specifi cations and programs are subject to change without notice. Illustrations are artist concept. E. & O.E. All brand names, logos, images, text and graphics are the copyright of the owners, The Daniels Corporation. Reproduction in any form, without written permission of The Daniels Corporation, is strictly prohibited. See Sales Representative for full details.

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condo profile

Live greatly with Great Gulf

its no surprise that Great Gulf is recognized as one of North Americas most innovative and diversified award-winning real estate development companies, building master-planned communities for close to four decades. With a penchant for understanding consumer needs, market insight and its Live Greatly commitment, more than 40,000 families in Canada and the U.S. enjoy living in outstanding, well-made, well-designed homes.

Great Gulf has pushed every boundary in the real estate industry to deliver award-winning leading-edge architecture, design and state-of-the-art construction in prime locations. We build and design homes as if theyre our very own with meticulous attention to quality, detail and value. The commitment and goal are the same to build and design every property as if building and designing a custom home, says Christopher Wein, Great Gulfs senior vice-president of sales and marketing. This incredible responsibility and the commitment to Live Greatly focuses on three defining strategies: visually striking design; innovative building technology and uncompromising workmanship; and unwavering commitment to the care of clients. With unparalleled quality and exceptional attention to detail, you can be sure that best value is a primary consideration.

SiGnature propertieSThe current portfolio of Great Gulf highrise projects presents a unique offering with an impressive collection of iconic buildings transforming skylines in cities including Toronto and Dallas. Working with world-renowned architects David Pontarini (One Bloor), Moshe Safdie (Monde) and Peter Clewes (Yonge + Rich), every Great Gulf highrise project pushes the boundaries of urban design excellence, innovative amenities and unmatched luxuries.

international propertieSBeyond Canadas borders, Great Gulf is active in 13 major U.S. cities including Dallas, where a truly unique project has just launched. Ltd. Edition is the exclusive innovation of Great Gulf in partnership with world-famous architect Siamak Hariri, interior designer Diego Burdi and landscape architect Janet Rosenberg. Positioned on 1.4 acres at the prestigious intersection of Turtle Creek and Fairmont Street in Dallas, this exclusive condominium dubbed Estates in the Sky is designed to provide a unique experience in urban living for its residents. The building will fan out in crescent shape and rise to 23 storeys, providing spectacular panoramic views of Reverchon Park, Turtle Creek and the city of Dallas.

The Great Gulf Group of Companies includes Great Gulf, Ashton Woods Homes, First Gulf Corporation, Tucker HiRise Construction, Brockport Home Systems Ltd. and Taboo Resort Golf and Spa. Visit greatgulf.com for more information.

YonGe + RiCH / TWenTY LomBARd STReeT ToRonToSnapshot A vision of world-class living by Peter Clewes in the epicentre of Torontos cultural district, crowned by an exclusive collection of 150 private residences nestled above a soaring 50-storey building. exclusive interiors by Burdifileklocation Yonge Street and Victoria Street Storeys 50units 677retail Space 468,000 sq. ft.Status In development


one BLooR ToRonToSnapshot A bold, futuristic building by David Pontarini located at one of Canadas most iconic and premier intersections, Bloor Street and Yonge Streetinteriors by Cecconi Simone outdoor amenity space by Janet Rosenberg, measuring 19,000 sq. ft.location Yonge Street and Bloor Street EastStoreys 75units 789retail space 100,000 sq. ft.Status Under construction

monde ToRonToSnapshot Designed by Moshe Safdie and inspired by the idea of gardens in the sky, Monde offers the convenience of downtown living with sweeping views of Lake Ontario. interiors by Cecconi Simone landscape architecture by Janet Rosenberglocation Sherbourne Street and Queens QuayStoreys 40units 483retail space 10,000 sq. ft.Status In development

LTd. ediTion dALLASSnapshot An exclusive luxury condominium designed by Siamak Hariri to provide a unique experience in urban living. The tower fans out in a crescent shape to maximize the penetration of natural light and panoramic views of Reverchon Park, Turtle Creek and the City of Dallas.location Turtle Creek Boulevard and Fairmont StreetStoreys 23units 60Status In development


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I recently sold my house, and now Im plagued by pangs of guilt at the thought of moving on to bigger and... better? After all, this was my familys first home, our first property purchased. Like for many property virgins, this was our first foray into real grown-up-hood and our first taste of freedom. We could do as we pleased, painting and decorating to our tastes and desires. And though small, our house was sweet and it served us well.

But leaving the home we know and love is just the beginning of our jitters (and by our I mean my husbands). Of this I can be sure if there isnt anything concrete to worry about, hell come up with something. Weve all heard of buyers remorse, but would this be a case of sellers remorse?

home sweet home // by Lydia mcNutt

Lydia McNutt is an award-winning writer and editor of New Condo Guide.

Lydias love of architecture, interior design and the written word have landed her happily at home at Wall2Wall Media,

where real estate rules. Email [email protected],

and follow her on Twitter @LydiasTweets

Will we love our new home? Our new neighbourhood? What about our neighbours? While there are no guarantees, doing your home work is an important first step in making a smart move.

My husband and I plan everything well in advance. (We had our wedding timed to the minute.) Heres how the sale and purchase would all go down: We would sell our house in good time and for a good profit. (Real estate has

been rising quickly in value in our neighbourhood, and after keeping a close eye on comparables, we had a dollar figure in mind. Selling our house first would allow us to sit tight until we got at least what we were asking.)

The day our sale became firm, we would find our

GTA New Condo Guide, Apr 26, 2014

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