Connect with us

Headlines

Connecting Vaughan to Guelph, Hwy. 413 will be a welcome transportation corridor north of Toronto

Editor

Published

on

[ad_1]

Highways play an important role in making our travel easier and more expedient, whether we are commuting to work, travelling for play or transporting goods.

Highway systems connect large cities and rural communities across the GTA. They make expansion possible by unlocking land for new communities, and allowing businesses to grow regionwide.

In November, the Ontario government released its 2018 Ontario Economic Outlook and Fiscal Review and announced that it will resume the environmental assessment (EA) for the GTA West Highway Corridor, which was suspended in 2015.

The EA will identify and address transportation needs in a corridor study area covering portions of York, Peel and Halton regions. The new Hwy. 413 — as it will be known — will run east to west, and connect Vaughan to Guelph.

BILD is hopeful that a new EA will lead to a much-needed transportation corridor north of Toronto. Highway transportation is especially important when it comes to the economy and building new communities. The economic vitality of the GTA relies on the expedience of the delivery of goods and services over the road in order to compete in the fast-paced business world. A new highway has not been built in this region since Hwy. 407 was constructed, more than 20 years ago. Hwy. 413 can revitalize the region by unlocking land to build new homes for the more than 115,000 new residents who will move to the GTA every year over the next 20 years.

We can look at the town of Milton, for example. The town currently has a population of more than 110,000 and continues to grow due to a housing boom that began nearly 20 years ago. This growth can be attributed to Milton’s close location to Toronto, Hwys. 401 and 407. Industry is also a big factor; a number of major corporations moved their head offices there.

One area of the GTA that will benefit from Hwy. 413 is Peel Region. It has more than 86,600 businesses of all sizes, from small family trucking companies to Canadian National and Canadian Pacific railways. Every day $1.8 billion in goods is moved to, through and from Peel Region. Four in every nine jobs depend upon the movement of goods and, every day, approximately 68,000 vehicles transport goods over Peel Region roads.

The GTA is one of the fastest growing urban regions in Canada. Congestion and lack of housing supply are already an issue and we need to plan for an additional 115,000 people and 50,000 jobs per year in the region over the next 20 years.

This will result in approximately 1.5 million additional passenger and commercial vehicle trips per day in the GTA West study area by the year 2031. This increased demand for mobility cannot be ignored.

Furthermore, there is not enough new housing being built to meet demand in the GTA, which increases prices, making affordability a challenge for many.

The construction of a new highway will unlock much-needed land for the development of new communities if we hope to build 50,000 new homes per year to sustain this unprecedented growth.

David Wilkes is President and CEO of the Building Industry and Land Development Association (BILD) and a contributor for the Star. Follow him on Twitter: @bildgta

[ad_2]

Source link

قالب وردپرس

Headlines

Victoria real estate agent disciplined for false advertising, encouraging cash deal to avoid taxes

Editor

Published

on

By

A Victoria real estate agent is facing $9,000 in fines and a 60-day licence suspension after breaking several professional rules during the sale of her father’s half-million-dollar property, according to a decision by the Real Estate Council of B.C. 

Whitney Garside’s missteps — outlined this week in a disciplinary decision posted on the council’s website — included falsely advertising the property as being almost twice its actual size and advising the buyer they could avoid the property transfer tax if they paid cash directly to the seller.

The property on Burnett Road in Victoria was being sold in 2016 by the real estate agent’s father. That relationship was disclosed and isn’t among the reasons she has been disciplined.

According to the disciplinary consent order, Garside told the buyer — whose name is redacted — that by paying $42,000 cash on the side, the value of the property could be reduced to avoid paying the property transfer tax.

That cash arrangement was not shared with Garside’s brokerage, Re/Max Camosun, a failure that contravened the Real Estate Services Act.

The council also ruled that she “failed to act honestly and with reasonable care and skill” when she advised the buyer the property transfer tax could be avoided by paying cash directly to the seller. 

The council’s discipline committee also found that Garside committed professional misconduct when she failed to recommend the seller and buyer seek independent legal advice, specifically regarding the property transfer tax and the cash agreement.

Another issue the council considered professional misconduct involved the size of the property in question.

The council ruled that Garside published false and misleading advertising and failed to act with reasonable care and skill when the property was advertised as 8,712 square feet, when in fact a portion of the lot belonged to the Ministry of Transportation, and the actual size was just 4,711 square feet.

The discipline committee ordered Garside’s licence be suspended for 60 days, which will be completed Jan. 3, 2021.

She has also been ordered to complete real estate ethics and remedial classes at her own expense.

Garside was also fined $7,500 as a disciplinary penalty and $1,500 in enforcement expenses.

She agreed to waive her right to appeal the council’s discipline committee’s decision in September.

Continue Reading

Headlines

Frisco apartment community sells to Canadian investor

Editor

Published

on

By

A Canada-based investor has purchased a Frisco apartment community as part of a larger Texas deal.

The 330-unit Satori Frisco apartments opened last year on Research Road in Frisco.

BSR Real Estate Investment Trust bought the four-story rental community that was built by Atlanta-based Davis Development.

Satori Frisco was more than 90% leased at the time of sale. The property includes a two-story fitness center, a car care center, a dog park and a resort-style swimming pool.

The Frisco property sold along with Houston’s Vale luxury apartments in a deal valued at $129 million.

“BSR recently exited the smaller Beaumont and Longview, Texas, markets and also sold noncore properties in other markets,” John Bailey, BSR’s chief executive officer, said in a statement. “We are now using our strong liquidity position to invest in Vale and Satori Frisco, modern communities in core growth markets with the amenities our residents desire.”

Continue Reading

Headlines

House prices on Prince Edward Island continue steady climb

Editor

Published

on

By

Residential real estate prices on Prince Edward Island continue to climb at a rate higher than the national average, according to the latest report from a national organization. 

The Canadian Real Estate Association released monthly figures for November 2020 on Tuesday.

They show that the average price for a resale home on P.E.I. is about 21 per cent higher than it was a year earlier. 

Only Quebec had a bigger year-over-year increase, at about 23 per cent. Overall across Canada, prices were up 13.8 per cent year over year in the ninth month of the COVID-19 pandemic.

“For the fifth straight month, year-over-year sales activity was up in almost all Canadian housing markets compared to the same month in 2019,” the report noted.

“Meanwhile, an ongoing shortage of supply of homes available for purchase across most of Ontario, Quebec and the Maritime provinces means sellers there hold the upper hand in sales negotiations.”

That lack of houses coming onto the market compared to the demand means that in those provinces, there is “increased competition among buyers for listings and … fertile ground for price gains.”

There have been anecdotal reports for months that Prince Edward Island’s low rate of COVID-19 infection and looser rules around social activities have been encouraging people to buy homes on the Island. 

Continue Reading

Chat

Trending