Zakiya Kassam
Zakiya is a staff writer with STOREYS. She has reported on real estate for Apartment Therapy, Curbed, and Post City Magazines. She also writes a quarterly series for a Canadian design publication.
Staff Writer
Development Projects
Madison Group Master-Plan Pulls In “World-Renowned” Rafael Viñoly Architects
The forthcoming master-plan community will comprise of four towers, and will jointly bring 2,364 new residential units to the site on Eglinton Avenue.
Renting
Updates To RentSafeTO Include More Inspections, Steeper Fines
Toronto City Council approved a series of “updates” to RentSafeTO last week, and among those were new parameters for city inspections, a more hands-on system for tenant complaints, and increased fees for non-compliance.
Affordable Housing
City Files Plans For Milestone ‘Housing Now’ Development In Scarborough Centre
“The proposed development, being advanced as part of the City’s Housing Now program, represents one of the largest affordable housing projects in Ontario in the past 25 years and the province’s largest co-operative housing development.”
Real Estate News
60 GTHA Condo Projects On Hold Indefinitely As Developers Pull Back "Dramatically"
New data from Urbanation shows that some 21,505 units that were on track to launch since the market began to slow down in 2022 are now “on hold indefinitely.”
Development Projects
RioCan Proposes 47- And 44-Storey Towers For First Phase Of Golden Mile Master-Plan
Pending City Council’s go-ahead, the towers would mark the first of four phases in a larger master-planned project from RioCan, the likes of which is expected to deliver seven new buildings and a public park over five development blocks.
Taxes
Toronto Due For Vacant Home Tax Shake-Up After City Backtracks On Over 100,000 Charges
A shake-up is on the table at this week’s Toronto City Council deliberations when it comes to how the Vacant Home Tax will be rolled out in the years to come.
Economy
Odds Rise For June Interest Rate Cut Despite Uptick In Inflation
“Financial markets had been thinking there was a 50/50 chance of a June cut before today's data, but that probability rose to around 65% following the benign March CPI data release.”
Policy
CREA’s New ‘Duty Of Cooperation’ Policy Raises Questions Over Enforcement, Penalties
“I feel like we're kind of in a period of growing pains where I'm still seeing a lot of people violating the policy because it's so unclear what the actual punishment will be.”
Renting
Canadian Rents Flatten In March, “Weighed Down” By Declines In Vancouver And Toronto
“As population growth slows with caps on non-permanent residents and supply increases as rental completions continue to rise, rent growth should continue to moderate towards more sustainable levels.”
Real Estate News
Canadian Home Sales, Prices “Mostly Unchanged” In March As Buyers Anticipate Rate Cuts
However, “weekly tracking” from CREA reveals “a bounce in new supply” around the second week of March, which lead to “a burst of sales” by the end of the month and “a jump in listings” by the first week of April.
Real Estate News
“An Uncomfortably Busy Fall”: Canadian Home Prices To Lift 9% By Fourth Quarter
“It is clear we are rapidly transitioning away from a buyers’ market and back to an environment where the seller has the upper hand,” says Royal LePage President Phil Soper.
Listed Commercial
Sprawling, Eight-Address Development Site On Sheppard Lists For $30M
Before you balk at the price tag, take this in: the site comprises of eight abutting addresses and already has zoning approvals in place for an 11-storey condo building and nine townhomes.
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