Zakiya Kassam
Zakiya has reported on real estate for Apartment Therapy, Curbed, and Post City Magazines. She also writes a quarterly series for a Canadian design publication.
Associate Editor
Development Projects
Pinnacle Bumps Up Tower Heights For First Phase Of Lake Shore Master Plan
Revised development plans from Pinnacle International ask for increased heights across the board, bringing the proposed storey-count up to 54, 44, and 15 storeys.
Renting
‘Won’t Move The Needle Enough’: Toronto Approves Incentive Stream For Purpose-Built Rental
The program is called the Purpose-built Rental Homes Incentives Stream and, at a high level, it pairs qualifying projects with certain perks, including development charge deferrals and property tax reductions.
Renting
“A Rare Occurrence”: Average Canadian Rent Falls For First Time Since 2021
The national average was pulled down by steep annual rent declines observed in Toronto (-9%) and Vancouver (-8%) as renters flocked to more affordable markets.
Taxes
After “Axe The Tax” Announcement, Poilievre Calls On Premiers To Follow Suit
In a letter to premiers, Poilievre asked to “match my common sense sales tax cut with one of your own by axing the provincial sales tax (where applicable) on new homes under $1 million.”
Development Projects
OLT Approves Redevelopment Of Moriyama-Designed Japanese Cultural Centre
Plans that come from a Originate Developments, Westdale Properties, and Cameron Stephens call for a pair of 48- and 55-storey towers.
Renting
Toronto Considering DC Deferrals, Property Tax Cuts For Purpose-Built Rentals
Toronto City Council is due to consider a new Purpose-Built Rental Homes Incentive on November 13.
Renting
Condo Rents Slide In GTHA As Completions Surge Over 130%
There were over 23,000 new condo units registered across the GTHA between January and September, and that figure represents a 132% increase over the same period last year.
Real Estate News
GTA Condo Supply Is Approaching A Number “The Market Has Never Seen”
How long will it take for almost 40,000 condo units — be those unsold units in development, assignment listings, or resale listings on MLS — to be absorbed into the GTA market?
Policy
Poilievre Pledges To “Axe” GST From New Homes Under $1M
“Getting rid of the GST on new home builds will stimulate 30,000 additional homes built every single year, which, incidentally, will actually generate more income tax revenue for the government without raising rates,” Poilievre told reporters on Monday.
Listed Commercial
Brampton, Caledon Development Lands In Receivership Listed By JLL, RE/MAX
The lands were placed under receivership on June 26 amid allegations that the site owner was indebted to its senior secured lenders in the ballpark of $90M.
Real Estate News
StatCan Unveils First Renovation Price Index, Reports Most ‘Cost Pressure’ On West Coast
“There has been growing interest in understanding price changes in this sector in recent years, as increasing renovation activity has led residential renovations to account for a growing share of gross fixed capital formation in residential structures,” StatCan said on Friday.
Renting
Over 50% Of Screened Applications Fraudulent: Toronto Renters Grapple With “Financial Struggle”
Menkes' Kimberly Sears tells STOREYS that the company has screened “over 175 offers to lease” over a six-month course, and of those, “over 90 of them were disqualified due to discrepancies found during the screening process.”
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