Author: Zoe Mitchell
In early December 2024, REALPAC released a significant report titled Decarbonizing Canada’s Commercial Buildings: The Owner & Investor Perspective. This comprehensive document explores the barriers to reducing carbon emissions in the commercial real estate sector and outlines ten actionable recommendations to address these challenges. With the building sector responsible for a substantial portion of Canada’s emissions, the report emphasizes the importance of swift and coordinated action to create a low-carbon future. The Role of Commercial Real Estate in Canada’s Economy Canada’s commercial real estate sector is a cornerstone of the national economy. Contributing $148 billion annually to GDP and creating…
East Vancouver has long been known for its vibrant culture and deep sense of community. Now, with Naímo, a new residential project by Hudson Projects, the area’s unique charm will have a taste of modern urban living that also blends in with the neighbourhood’s character. Naímo will offer boutique living through classic architecture, livable interiors, and intentional communal spaces. A Prime Location on Nanaimo Street Naímo will be conveniently situated on Nanaimo Street in the heart of East Vancouver, offering unparalleled access to the community’s amenities and everyday necessities. This tree-lined street, filled with eclectic shops and cafes, reflects the…
Backyard renovations can significantly impact rental properties by enhancing their marketability, increasing rental income, and even reducing operational expenses. As renters increasingly prioritize outdoor spaces and community areas, strategic improvements to a property’s backyard can provide both immediate and long-term financial benefits for landlords. The Appeal of Outdoor Living Spaces Outdoor amenities are highly sought after by tenants, particularly in urban areas where private or semi-private outdoor spaces are rare. Features such as patios, decks, and outdoor kitchens not only enhance the usability of the property but also create a lifestyle appeal that justifies higher rents. For example, the addition…
The Canada Mortgage and Housing Corporation (CMHC) MLI Select program is a loan insurance initiative designed to encourage the development, preservation, and improvement of affordable rental housing in Canada. This program helps real estate investors and developers by offering financial incentives for projects that meet specific criteria in affordability, energy efficiency, and accessibility. Background of the Program The MLI Select program was launched on March 7, 2022, to replace the previous MLI Flex program. MLI Select aims to address gaps in affordable and sustainable rental housing. Rising demand for affordable homes, alongside aging rental infrastructure, created the need for solutions…
As housing affordability continues to be a growing concern, the City of Hamilton is taking steps to address the issue through its 2024 Housing Sustainability and Investment Roadmap. This strategic plan focuses on four main pillars: constructing new housing, acquiring at-risk properties, preserving existing affordable housing, and expanding housing-based support services. These efforts are intended to reduce homelessness and ensure that Hamilton remains a place with safe, thriving neighbourhoods. Broad Actions The City has identified several broad actions to achieve the goals of each of the pillars. Constructing New Housing The City of Hamilton is committed to alleviating housing pressures…
The growing demand for accessible buildings and homes in Canada reflects demographic shifts and changing consumer expectations. With over 6.2 million Canadians living with at least one disability approximately 22% of the population aged 15 and older accessibility is becoming a priority in property design. As the population continues to age, this need is expected to grow further, influencing both residential and commercial real estate markets. Accessible properties are not only important for individuals with disabilities but are also practical for seniors, families with young children, and homeowners planning for future needs. Inclusive design can lead to broader market appeal,…
The City of Hamilton has released its 2024 Housing Sustainability and Investment Roadmap update, outlining significant progress and next steps in addressing the region’s housing challenges. The Roadmap, adopted by the City Council in the spring of 2023, serves as a guiding framework for creating, preserving, and supporting affordable housing across Hamilton. This year’s update highlights achievements in key areas and provides a detailed look at how the city plans to move forward into 2025 and beyond. The Roadmap The Hamilton Housing Sustainability and Investment Roadmap is a comprehensive plan adopted by the City Council in 2023 to address the…
The Canada Mortgage and Housing Corporation (CMHC) released its 2024 Canadian Rental Housing Construction Survey in late November, offering a comprehensive look at the challenges and opportunities facing purpose-built rental developers across the country. The report indicates that Canadian rental developers see improving conditions in some regions, driven by slowing construction costs, strong rental demand, and increased government support. However, rental developers are also reporting ongoing barriers, such as financing difficulties and high land costs, which continue to hinder development in other regions. Improvements in Some Markets The survey reveals a growing sense of optimism among rental developers in regions…
Winter properties, such as ski chalets and mountain lodges, can generate excellent rental income during the peak winter season. However, to maximize your investment, it is important to have a strategy for year-round use. With strategic planning, effective marketing, and targeted upgrades, winter properties can be transformed into year-round revenue generators. This approach is particularly valuable during shoulder seasons, when conditions often don’t fully support traditional activities. For instance, there may be some snow but not enough for skiing, making trails challenging for hiking or biking. Similarly, thawing or unstable conditions can limit outdoor activities like climbing or fishing, while…
With the Bank of Canada in a rate-cutting cycle, many Canadians expect mortgage rates to continue to drop. This may be true for variable mortgage rates since they track changes in the Bank of Canada rate. However, fixed mortgage rates do not directly follow the Bank of Canada’s overnight rate. Instead, they are tied to the bond market, which has shown mixed signals recently. Let’s break down how fixed rates are determined, where they stand historically, and why we might be near the bottom for fixed mortgage rates. How Are Fixed Mortgage Rates Priced? Unlike variable rates, which move in…