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Annual pace of housing starts picked up in October, topped expectations

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An increase in multi-unit projects such as condominiums, apartments and townhouses helped push the annual pace of housing starts in October higher, Canada Mortgage and Housing Corp. said Thursday.

The housing agency said the seasonally adjusted annual rate of housing starts last month came in at 205,925 units, up from 189,730 in September.

Economists had expected an annual rate of 200,000, according to Thomson Reuters Eikon.

CMHC said the six-month moving average of the monthly seasonally adjusted annual rates was 206,171 in October, down from 207,809 in September.

The report confirms that national housing construction, though slowing, remains healthy and above long-run household formation rates, supported by solid demographic trends.– Sal Guatieri, BMO Capital Markets senior economist

BMO Capital Markets senior economist Sal Guatieri said the housing market continues to stabilize after getting dinged by tougher mortgage rules earlier this year, and remains healthy despite higher interest rates.

“The report confirms that national housing construction, though slowing, remains healthy and above long-run household formation rates, supported by solid demographic trends,” Guatieri wrote in a brief report.

However, CIBC economist Royce Mendes noted the growth was due to the multiples component.

“The fact that headline starts rose on the month is still a positive for tracking estimates of the economy,” Mendes wrote.

“But given that it came on the back of an increase in multiples coupled with a drop in singles, means that the latest reading on starts may not prove sustainable. We still see the cocktail of tighter lending rules and higher interest rates as causing housing activity to become a drag on the economy come 2019.”

The growth in housing starts in October came as the annual pace of urban starts climbed by 8.6 per cent to 191,964 units.

The annual rate of urban multiple-unit projects increased by 16.8 per cent to 145,442 units. Urban starts for single-detached homes fell 10.7 per cent to 46,522 units.

Rural starts were estimated at a seasonally adjusted annual rate of 13,961 units.

Market expected to moderate 

Earlier this week, CMHC said it expected the real estate market to moderate over the next two years.

In its annual outlook, the agency forecasted housing starts and sales to both decline in 2019 and 2020.

It expects housing starts for single and multi-unit starts will fall to between 193,700 and 204,500 in 2019, while sales are expected come in between 478,400 and 497,400 units.

Prices are anticipated to range from $501,400 and $521,600.



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A Look at TACT-Designed Interiors in Graywood’s Scout Condos

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Just west of the construction site for Scoop Condos on St. Clair Avenue West at Old Weston Road, Graywood Developments will soon be bringing a new 12-storey, SMV Architects-designed condominium to Toronto’s West End. Last month, we took a look at Scout Condos‘ amenity spaces—appointed by TACT Architecture‘s interior design wing—and today we’re back for a preview of the TACT-appointed suite interiors.

Scout Condos, Toronto, Graywood, SMV, TACT, St. ClairScout Condos, image courtesy of Graywood Developments

The project is offering 261 suites in a wide variety of unit types and sizes. Standard suite features are set to include 9’ ceiling heights in principal rooms, laminate wood floors, smooth painted ceilings, and neutral colour-painted interior walls. Other features include stacked washer and dryer units as well as individually controlled heating and air conditioning systems.

According to TACT’s Michael Krus, kitchens at Scout will be “more appointed, larger, with some custom elements unique to the project. We’re introducing integrated pantries into these kitchens, part of the kitchen millwork but flows into the living room so the kitchen becomes an extension of the living room. The kitchen isn’t just the kitchen, It will be support.” 

Scout Condos, Toronto, Graywood, SMV, TACT, St. ClairSuite interior, Scout Condos, image courtesy of Graywood Developments

Kitchens at Scout will feature custom-styled kitchen cabinetry in a selection of finishes, quartz countertops, glass tile backsplashes, stainless steel sinks, over-the-range microwaves with built-in exhaust fan, as well as standard appliances and integrated dishwashers.

Bathrooms will include custom-styled bathroom cabinetry in a selection of door finishes, porcelain tile finishes for walls and floors, quartz counters, and a full vanity-width mirror. Other features include white bathroom fixtures, wall-mounted vanity faucet with backsplash, and the choice of a chrome washroom accessories package.

Additional information and images can be found in our database file for the project, linked below. Want to get involved in the discussion? Check out the associated Forum thread, or leave a comment in the field provided at the bottom of this page.

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To request more info directly from Scout Condos click here

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Costco-style membership for hay aims to modernize handshake deals

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Cindy Wilinski says 100 years ago if you needed to buy hay for your livestock you tracked down a local farmer, by phone or in person, made a deal and hoped the product was as good as advertised.

She said nothing much has changed today, except now it might be purchased via an email or over text message.

“It’s still the old handshake kind of deal and hope you don’t get ripped off,” said Wilinsky, who owns an equine training and breeding facility near Okotoks.

Wilinsky said she first got the idea of bringing the hay business into the 21st century after a drought in 2015 left a lot of people scrambling to find hay. At that time she started a Facebook hay-sourcing group called the Haylist — a database that amassed more than 7,000 members — where people could list hay for sale, request hay and list trucking services.

The Haylist is still going but Wilinski felt she could do more to help livestock owners find good quality, affordable hay from a credible and trustworthy source. That led to the creation of the Haybank, a Costco-style membership business she launched in the fall.

And, the response has been overwhelming.

“We literally ran out of all the hay we had lined up that was on the yard as well as what was coming.”

Those who sign up pay an annual $500 membership fee, plus the cost of the hay they purchase and transportation if needed. (Contributed)

Rather than the handful of memberships she expected, 83 people signed up within weeks, including Priddis-area rancher, Danny Lansdowne.

“This year hay is all over the map and I can’t afford the $200, or $180 [per bale],” said Lansdowne, who purchased hay for his five horses and cows.

“It’s a blessing.”

Wilinski attributes the higher than expected demand to a prolonged drought pushing up the price of hay, while any lower priced hay is being snatched up, and in some cases, she says, it’s being turned around and sold at a higher price.

“You know it’s just one of those things that turns your stomach.”

Those who sign up pay an annual $500 membership fee, plus the cost of the hay they purchase and transportation if needed.

The fees allow Wilinski to purchase bulk amounts of hay, in some cases entire crops,  and keep the transportation costs down. She’s sourced hay as far east as Ontario, and south to Montana.

“The problem has always been in making the trucking affordable so it’s not landing here being priced higher than what they need locally for it,” she said.

From the feedback Wilinski’s received so far, she says people are appreciative of having a secure way to buy hay.

“And you’re not sending an e-transfer to somebody you’ve never met for hay you’ve never seen.”

Wilinski said she tests the quality of the hay once it arrives, and only after she confirms the amount and quality does she put it up for sale.

In the months since opening the Haybank Wilinski says she’s managed to work out some of the kinks, address some of the growing pains and put a more balanced system in place.

“(We’re) just trying to make sure everybody gets the feed they need for this winter,” she said. “Because by the looks of things so far we’re going to have another year that’s not looking so grand unless we get an awful lot of rain or some late snow.”

Wilinski said she’s already heard from people who want to invest in her business and hopes to get more trucks rolling in order to service her customers even better.

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Excavation Progressing at Waterfront Innovation Centre Site

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It has been four months since September when Menkes Developments marked the start of construction for the Waterfront Innovation Centre in Toronto’s East Bayfront area. Shoring activity that began the first stage is now wrapping up, and excavation has now begun for the new 12-storey, 400,000 ft², Sweeny &Co Architects-designed office development.

Waterfront Innovation Centre, Menkes, Sweeny &Co Architects, TorontoShoring at the west side of the Waterfront Innovation Centre site, image by Forum contributor Full Metal Junkie

The site is bisected by a short north-south stretch of Dockside Drive. Shoring activity is now proceeding on the smaller footprint of the western portion, where a drilling rig (above) continues to bore holes for the site’s caisson wall shoring system. Meanwhile, excavation is now progressing on the much larger eastern portion east of the road (below).

Waterfront Innovation Centre, Menkes, Sweeny &Co Architects, TorontoExcavation for the Waterfront Innovation Centre site, image by Forum contributor Full Metal Junkie

Crews are digging to a three-storey depth for the building’s underground garage, to hold 197 spaces. The dig is furthest along just east of Dockside Drive, where the pit has been excavated roughly two levels deep so far, and requiring a horizontal drilling rig to install a first row of tiebacks to anchor the shoring walls to the surrounding earth.

Waterfront Innovation Centre, Menkes, Sweeny &Co Architects, TorontoExcavation for the Waterfront Innovation Centre site, image by Forum contributor Full Metal Junkie

Tieback drilling has since progressed to the east end of the site, closest to Knapp Lane. The image below shows the horizontal drilling rig used for tiebacks sitting idle, while tubes for the site’s de-watering drape over the fence.

Waterfront Innovation Centre, Menkes, Sweeny &Co Architects, TorontoHorizontal drilling rig at the Waterfront Innovation Centre site, image by Forum contributor Full Metal Junkie

The project—part of a larger regeneration of the area overseen by Waterfront Toronto—is targeting a 2021 completion date, set to house at least 2,000 workers upon opening. WPP will be the building’s lead tenant, with the the Canadian head offices for the multinational e-commerce, advertising, online media, public relations, communications, and branding services giant to occupy 260,000 square feet of the building.

You can get more information about and see more renderings of the Waterfront Innovation Centre in our database file, linked below. You can get in on the discussion in our associated Forum thread, or leave a comment in the space provided on this page.

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UrbanToronto has a new way you can track projects through the planning process on a daily basis. Sign up for a free trial of our New Development Insider here.


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