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Vancity creates multiplex mortgage to fund citizen developers

13 hours ago

Vancity creates multiplex mortgage for citizen developers

A multiplex mortgage from Vancity has backed over 45 projects with more than $60 million in funding since its soft launch last year, adding to the Vancouver credit union’s portfolio of financing for missing middle housing.

New-build home sales in Ontario surge after rebate launch

Ontario’s new home market is heating up after sales tax rebates went into effect this month, but it’s too early to say whether the move will revive a sector that has been in a slump for years.

Ottawa to waive $250M dev. charges, taxes for housing deal

The City of Ottawa will waive up to $250 million in development charges, fees and property taxes to support the construction of hundreds of affordable homes on surplus federal lands, as part of a landmark federal-municipal housing agreement.

RECO seeks to revoke licence of former OREB president

The Real Estate Council of Ontario (RECO) is seeking to revoke the licence of former Ottawa Real Estate Board (OREB) president Penny Torontow and her brokerage, following allegations she misappropriated sums totalling six figures from a trust account.

Vancouver's wild condo pre-sales era is over. What's next?

The pre-sale model responsible for financing a huge proportion of new homes built in Metro Vancouver over the past three decades is now, in the estimation of different industry professionals, "on its knees," "dismal" or "dead, dead, dead."

Vancouver’s tony neighbourhoods get a reality check

OPINION: The Vancouver neighbourhoods that have historically been home to its most expensive properties have undergone a huge price shift in recent years and now lag behind the rest of Metro Vancouver.

Markham loses $7M in funding after blocking fourplexes

Following Markham Mayor Frank Scarpitti’s use of “strong mayor” powers to veto a council decision to allow fourplexes citywide, the federal government has cut the municipality’s third Housing Accelerator Fund instalment by 50 per cent.

Toronto’s housing market is (mostly) frozen

While it’s still early days in the spring market, real estate experts interviewed by the Star all agree: the market is slow. But when the real estate market is down, it presents opportunities for some, experts said. 

Calgary city council repeals blanket rezoning

Calgary’s repeal of its citywide rezoning policy is being welcomed by critics as a chance to press reset on city planning, while developers warn the move is already stalling investment and could push capital out of the city.

Prince Edward County subdivision put on hold

A request to re-approve Kaitlin Corporation’s Cork & Vine subdivision in Wellington – located in Ontario's Prince Edward County – was put on hold last week. About 460 residential units, including detached and semi-detached houses, townhouses and apartments, hang in the balance.

1,200 new units planned as Thunder Bay sells surplus lands

Thunder Bay’s director of development services says the sale of four city-owned properties marks a milestone in the community’s efforts to address the housing shortage. The vacant properties have been designated as surplus lands.

Dealmaking tips that could save buyers a bundle

Unlike the frenzied bidding wars of the early pandemic years, listings now linger on the market for months. Frequent price reductions and homes selling well below asking mean buyers need to take current listing prices with a heavy dose of skepticism.

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