M A L I B U W H E R E L I F E M E E T S S T Y L E

5-WEEK ISSUE Dec 1, 2012 - Jan 5, 2013 Volume 16 Issue 22

INSIDE THIS ISSUE

THE NUTS AND BOLTSOF MAINTENANCE FEES

HOW TO GET YOURHOME HOLIDAY READY

LUXURIOUS LIVINGIN HOTEL-CONDOS

LUXURIOUS 2 STOREY LOFTS FROM $459,900OTHER SUITES FROM THE MID-$400S

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Fancy a workout in your condos gym? Maybe a swim? Well, why not? After all, youre paying for it through your condo fees.

Condo fees are what each owner is required to pay monthly, in addition to their mortgage payments. They differ from condo to condo and they are not upfor discussion.

According to Urbanations Condominium Market Survey, thefees for a new condo in Q3-2012 were about $0.49 per sq. ft. per month in the GTA. So while the fees will vary from building to building, they will, on average, set you back about $350 to $550per month for an typical unit.

Some of these costs include: building insurance; utilities like electricity, heat and hydro; building

property taxes; cleaning services and garbage pick-up; landscaping and snow removal; security/concierge; pool/gym maintenance; and parking.

For some people, the idea of having security, parking and snow removal are some of the great things about living in a condo. For others, those incentives arent important.

If you want a condo with allof the bells and whistles, you are looking at higher fees; if you want to keep the fees low, you should consider buildings without all the facilities. Because, lets face it, ifthe building has the amenities,you will pay for them month after month after month even if you never dip your toe in the Olympic-sized pool.

What do you really need?

A long-termcommitment will afford you

Whether youre relocating from one coast to the other or moving to your first place, changing homes can be hectic, exciting and certainly stressful. But, relax. You can eliminate the anxiety associated with moving by taking control of the situation with confidence.

Understanding the market is just part of the story. Knowing what you need and what you can afford is the more important part of the equation. Making a prudent purchasing decision that doesnt keep you up at night when interest

rise or market news becomes the talk of the town is up to you.

Any expert will tell you that buying a home or condo is along-term commitment. Thisissue is full of great tips from the experts as well as the latest news designed to help you make a wise purchasing decision.

Along with our CondoProfile features, which outlinethe specifics on many fine communities, theres lots to take in so kick back, relax and enjoy. Youre in the drivers seat.

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SURFACING SOON.

Youll love living in one of the GTAs best locations at Bloor Street West and Islington Avenue in Etobicoke, in a residence where style and sophistication go hand-in-hand. The opportunity to own at Vivid Condominiums just got more exciting, now that Pemberton Group has introduced a limited-time-only special One-Price Plan. Buy now and you can choose to live in a beautiful 820 sq. ft. suite on floors 6 to 16 for the amazing price of just $349,990! See a sales representative for details.

The final building in Pembertons established Port Royal Place community, Vivid is situated steps to the Islington TTC subway station and Kipling GO station. Residents will enjoy proximity to schools, shops, and recreation facilities in the vicinity. Islington Village, the Waterfront Trail, Bloor West Village, The Kingsway and Sherway Gardens are also near by.

The community has its own landscaped park, gazebo, playground and splash pad. Vivid itself features 24-hour concierge service, a completed indoor swimming pool, mens and womens change rooms, fitness centre,

cards and billiards rooms, and a lounge with a fireplace, bar, servery and catering kitchen. Each spacious, well-appointed suite includes a generous balcony, terrace or patio. To fully appreciate Pembertons quality and design panache, view Vivids virtual suite tour online.

Available one-bedroom to two-bedroom + den designs range from 580 to 1,120 sq. ft., affordably priced from the $260s. Ask a sales representative for full details on Pembertons One-Price Plan.

Pemberton Group has more than 50 years experience building superb communities in many of the Greater Toronto Areas most desirable neighbourhoods.

The Vivid Presentation Centre and model are at 9 Michael Power Place, south off Dundas West, between Islington and Kipling. Call 416.239.8200, or visit vividcondos.com. To explore the companys many fine communities, visit PembertonGroup.com, plus follow Pemberton on Facebook and Twitter.

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EXCEPTIONAL VALUE THROUGH TALENT, DEDICATION AND LEADERSHIP For over 50 years, Pemberton Group has created landmark residential and commercial developments that deliver exceptional value through its talent, dedication to excellence and industry leadership. Today, Pembertons diverse condominiums across the Greater Toronto Area are a tribute to design creativity and craftsmanship. Located in the most coveted neighbourhoods and enhanced with vibrant lifestyle amenities, every Pemberton condominium is a destination in itself.

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COLUMNS, NEWS &

FEATURES

002 EDITORS NOTE

016 BILD REPORT Working together to build great cities BY BRYAN TUCKEY

034 TAXING ISSUES Buying a home to build equity BY HENRY CHOO CHONG

040 LEGALLY SPEAKING Considerations for buying foreign property BY JAYSON SCHWARZ

066 STYLE FILE The coffee table: sizes, shapes and finishes BY YANIC SIMARD

078 MORTGAGE FINESSE How to be mortgage-free within 10 years BY CALUM ROSS

080 FUNDAMENTALLY SPEAKING Report from the CMHCs annual housing outlook conference BY WAYNE KARL

088 MONEY MATTERS Holiday shopping without the hangover BY GAIL VAZOXLADE

092 CONDO PRO Condo maintenance fees: a matter of perspective BY BARBARA LAWLOR

114 MAKE YOUR MOVE How to properly pack seasonal decorations BY DAN HOPKINS

124 HOME SMARTS Make a wise and informed condo purchase BY MARNIE BENNETT

126 QUICK TIPS Get organized and have a hassle-free holiday BY HELLEN BUTTIGIEG

142 SCRUMPDILLYICIOUS Braised lamb shanks with creamy polenta BY LESLIE STYLES

024 NEWS

New lending restrictions affect new home sales

033 EVENTS BILD raises $30,000 for Habitat for Humanity

December 1, 2012 to January 5, 2013 VOLUME 16 ISSUE 22

MALIBUWhere life meets style

046 MORTGAGE NEWSProvincial regulators to increase consumer protection for mortgages

052 MORTGAGE POLL Canadians view their home as key investment tool

056 HOUSING MARKET Moderation is the key word for Canadian housing markets in 2013

062 BREAKING GROUND 36Hazelton breaks new ground in Yorkville

068 CONDO SNAPSHOTEnjoy year-round vacation living at Copeland House

076 CONDO POLLCanadians dont mind paying for the perks of condo living

122 CMHC NEWSGTA condos: affordable and in demandBY WAYNE KARL

032 CONDO LIVINGLiving the luxe life in Torontos hotel-condosBY MIMI NG

048 HOT TOPICThe value of public art and spaces in urban life BY MARK MANDELBAUM

050 HOME SEARCHPinpointing theperfect location foryour new homeBY WAYNE KARL

057 HOT TOPICMidrise is on the risein TorontoBY ROLAND ROM COLTHOFF

096 YOUR STYLEGet your home ready for the holidaysBY HEATHER SEGRETI

118 HOLIDAY HOMETips to help you pull off a chic holiday fteBY NICHOLAS ROSACI

138 DESIGNER TOUCHRegardless of how you celebrate, its time to start decorating.BY ERICA GELMAN

044 YOUR MONEY13 essential tax-planning strategies

CONDO PROFILES

MONARCH & THE GOLDMAN GROUPPicasso on RichmondLast chance for pre-construction pricing atchic downtown condo

THE DANIELS CORPORATIONOne Park PlaceHot, new residence in Regent Park is selling out quickly

GRAYWOOD DEVELOPMENTS & MOD DEVELOPMENTS

Five CondosA dynamic, urban landmark at Yonge and Bloor

NORSTAR GROUPPortrait CondosEight stunning suites are now on view at Bathurst and Sheppard

ROYAL GRAND WOODBINE DEVELOPMENTS

The LexingtonEtobicoke condo buyers get a great new deal

BAZIS INC.E CondominiumsAn exciting development now open at Yongeand Eglinton

064 FINANCES A bit of planning can reduce your tax liability

070 GOING GREEN Make the resolution for a greener 2013

086 DECORATING TIPS Take your home from dreary to cheery with paint

090 YOUR MONEY Are you saving enough for retirement?

098 CONDO WATCH 416Previews, new releases and grand openings in the 416 area

110 YOUR SPACEClever ways to organize a small living space

128 QUICK TIPS Resolve to get organized in 2013

130 MOVING How to make moving easier on your kids

132 CONDO WATCH 905Previews, new releases and grand openings in the 905 area

145 CONDO BUYERSRESOURCE SECTIONYou love the home, see what you can afford

150 INDEX OF ADVERTISERS

Marnie Bennett is a broker and the team leader of Bennett Property Shop Realty, a full premium-service five-star real estate brokerage specializing in marketing and selling new and resale homes, condos and investment real estate. Marnie is the host of the weekly radio shows, The Real Estate Hour and Business Class. bennettpros.com

Jayson Schwarz LL.M is a Toronto real estate lawyer and partner in the law firm Schwarz Law LLP. Visit the website at schwarzlaw.ca or email info@schwarzlaw.ca.

Bryan Tuckey is president and CEO of the Building Industry and Land Development Association (BILD) and can be found on Twitter (twitter.com/bildgta), Facebook (facebook.com/bildgta), Youtube (youtube.com/bildgta) and BILDs official online blog (bildblogs.ca).

Yanic Simard is New Condo Guides design editor and the principal designer of the Toronto Interior Design Group, specializing in residential and commercial projects. Simard has created designs for clients in Toronto, Montreal and Miami, and appears as a regular guest expert on Citytvs CityLine. Visit tidg.ca

Barbara Lawlor is president of Baker Real Estate Inc., and an in-demand columnist and speaker. A member of the Baker team since 1993, Barbara oversees the marketing and sale of condominium developments in the GTA and overseas.

Wall2wall Media is a Trademark Of Yellow Pages Group Co. In Canada.

Call 416.626.4200 for advertising rates and information.

Free distribution in select high-traffic street boxes, stores, banks, financial institutions and select condominium sales offices.

All rights reserved by wall2wall media. Reproduction in any form is prohibited. Contents of this publication are covered by copyright and offenders will be prosecuted under the law.

Advertisers, editorial content and new condo guide are not responsible for typographical errors, mistakes or misprints. All prices are correct as of press time and are subject to change without notice. E. & O. E.

submissions from interested parties will be considered. Email to susan.legge@wall2wallmedia.Com. The views and data expressed by columnists do not necessarily represent those of the publication. Hometrader and the Hometrader & Design are trademarks of Apax Partners Llp, Used Under License.

Please recycle this magazine! Wall2Wall Media participates in the Partners in Growth Reforestation Program through St. Joseph Communications. To date, Partners in Growth has planted over 2.5 million trees in parks, recreation and conservation areas, and other public spaces across Canada. Established in 1990, this program was started with Scouts Canada to help replenish the environment.

Hellen Buttigieg, CPO, is a certified professional organizer, life coach, TV host and owner of We Organize U. Visit her website, WeOrganizeU.com, for a free e-Book on how to find more time, energy and inner peace. Contact Hellen at 905.829.2219 or info@WeOrganizeU.com

Henry Choo Chong is a certified general accountant. Henry sits on many committees and provides accounting and tax advice to individuals and businesses in the GTA. Email your tax questions to Taxing Issues at choochonghcga@yahoo.ca

Dan Hopkins is chief operating officer at Two Men and a Truck Canada. For more information visit twomenandatruck.ca

Ben Myers is editor and executive vice-president of Urbanation, a market research firm tracking the new, resale and future condo market since 1981. Urbanations Condominium Market Survey is the industrys bible for sales and pricing information, as well as analysis that puts all the pieces together. Urbanation is on the pulse of the highrise condo market in Toronto.

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Bryan Tuckey is President and CEO of the Building Industry and Land Development

Association (BILD) and can be foundon Twitter (twitter.com/bildgta),

Facebook (facebook.com/bildgta),Youtube (youtube.com/bildgta) and

BILDs official online blog (bildblogs.ca).

few weeks ago, BILD released the latest housing market statistics, showing that new

home sales in the GTA remained low in September as a result of the federal governments tighter mortgage lending regulations.

In the release, I explained that changes to mortgage rules and a tightening of lending for GTA projects by the banks have diminished

consumer confi dence and, ultimately, new home sales. Home builders are also showing some restraint as the GTA saw fewer new

project openings in the second half, with many launches scheduled ahead of the summers new mortgage rules, or for next spring when sales are traditionally more active. Year-to-date fi gures showed a more positive view with 26,392 new homes and condominiums sold in the GTA as of the end of September. Th ats nearly identical to 2010, although 23 per cent below the record-breaking 2011.

In fact, on the highrise side, year-to-date sales remain third-highest on record at 19 per cent above the long-term average, trailing 2011 and 2007 both banner years for GTA condominium sales.

As I explained in a recent webinar hosted by RealNet Canada Inc., theGTA is really a tale of two markets highrise and lowrise and while thetwo currently face diff erent challenges, they all stem from the impact of the Ontario Growth Plan, better known as Place to Grow provincial policy that spearheaded the emphasis on intensifi cation, leading to the shift were seeing towards high-density housing in the GTA.

While highrise sales remain above average, the same cannot be said for the lowrise sector. Although September lowrise sales have outperformed its condo counterpart for the fi rst time since 2009, our industry is still facing challenges stemming from high prices, a lack of product choice in ground-related housing and constrained land supply.

As of September 30, the RealNet New Home Price Index for a lowrise home rose 15 per cent to $623,245. Price growth was also observed in the highrise market, although the diff erence is more modest with prices up to $544 per sq. ft. a three per cent increase over September 2011.

Th e Ontario government has recent described the Greater Golden horseshoe as the fourth-fastest growing urban region in North America, and its diffi cult to build aff ordable homes so that the 100,000 new residents that come to the GTA each year have a place to live and work.

Our Association prides itself on acting as the voice of the development, building and renovation industry in the GTA and we are working with our partner associations to ensure that challenges facing our industry are addressed by all levels of government.

Government actions such as lending restriction modifi cations, growth plan management or regional approval practices all impact the new homes industry in the GTA an industry that is vital to the economic success of its residents through creation of new employment, infrastructure and opportunities.

If we are going to succeed in making the GTA a place where residents can live, work and play, we must all turn to the same page on building great cities.

Buy now for optimum value at

arly in the new year, Monarch and Th e Goldman Group will start

construction on Picasso on Richmond, so anyone interested in living in this highly successful condominium in an A Toronto

location should act now. Th is is your last chance for pre-construction pricing.

Th e opportunity is incredible, especially with such a dynamic development team at the helm. You can buy with peace-of-mind from Monarch and Th e Goldman Group, both industry leaders with prestigious reputations. Monarch is Canadas oldest real estate company, with more than 95 years of experience in providing top-quality homes and condominiums with unparalleled customer service. Th is longevity and reputation for excellence have earned Monarch the publics trust. In 2010, Monarchwas named Home Builder of the Year by BILD. Th e companys commitment is to build homes inspired by

you they know how to build it right the first time.

Adding to the confidence in purchasing at Picasso on Richmond is its phenomenal location on Richmond between John and Peter Streets in Torontos hot Entertainment District. Residents will be able to walk to restaurants, spectacular shopping along fashion-forward Queen Street West, Air Canada Centre, Rogers Centre, Roy Thomson Hall, TIFF Bell Lightbox and the Osgoode subway station.

Within these exciting surroundings, Picasso on Richmond will rise as an architectural icon. Governor General Award-winning Teeple Architects designed the unique avant-garde exterior that is destined to turn heads in this significant area of Toronto. Edgy white cubic volumes will project from the tower and appear to float in midair, resulting in phenomenal views of the city and lake. To create the effect of a vertical landscape, each cubic volume will have a themed garden. The base, a 10-storey podium, will encompass high-end retail and commercial spaces, which is yet another component of convenience for residents. The result will be an

architectural marvel that will take its rightful place close to the AGO.

As for interiors, the renowned firm Union31 has designed the amenities, beginning with the chic open-air lobby housing 24-hour concierge service. Perched on the 10th floor, the Picasso Club has a special occasion/party room that overlooks a spacious terrace with barbecues, a hot tub, tanning decks, an outdoor fireplace, cabanas and panoramic views. The Club also features the Cue Lounge with a billiards table and TV. For fitness enthusiasts, Pulse offers cardio, a yoga/aerobics area, fitness equipment, and mens and ladies change rooms with a dry sauna. Rounding out the amenities is a designer-decorated guest suite.

Luxurious appointments in the suites (all as per plan) include eight- to 10-ft. ceiling heights (depending on the floor); laminate flooring; kitchens with built-in stainless steel appliances; quartz, granite or Caesarstone countertop; porcelain, ceramic or glass tile backsplash; pantries and extended breakfast bar islands (as per plan).

The studios, one-bedroom, one-bedroom plus den, two-bedroom, two-bedroom plus den, and three-bedroom designs range in size from 398 to 1,231 sq. ft. and in price from the $300s to over $800,000. Ask about the superb selection of Sky Suites released earlier this year.

IN 2010, MONARCH WAS NAMED HOME

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Exclusive Listing Broker Milborne Real Estate Inc. Brokers Protected.Marketing Management by Anne Lambrou Living Visions Inc. Prices and specifi cations subject to change without notice. Illustrations are artists concept. E.&O.E.

THE ICONIC SUTTON PLACE HOTEL RE-ENVISIONED AS THE BRITT CONDOMINIUM RESIDENCES. The historic Sutton Place Hotel at Bay and Wellesley, just steps to the Bloor-Yorkville neighbourhood, will be injected with new life, British inspired architecture, design and amenities. From the grand entrance lobby to the magnifi cent terrace to luxury fi ve-star services, this is where classy meets classic and historic meets epic.

24-hour executive concierge

has been proud to take its place in Torontos ever changing skyline with iconic buildings designed to reflect the character of their neighbourhood while providing residents with modern amenities designed to compliment their lifestyles.

Malibu Investments Inc. is a Toronto-based development company with major residential highrise condominiums throughout the GTA. To date, more than 3,500 residential suites are completed or under construction.

Through its commitment to using the most advanced materials, methods and technologies available to the industry, Malibu is committed to the highest standards of quality for all of its developments infusing smart urban design with todays lifestyle demands.

Shaping TorontoMalibus portfolio ranges from boutique buildings to signature towers across the GTA, including: St. Andrew on the Green, luxury condos overlooking the Islington Golf Course; Boutique Condos, two phases of residences located in the Entertainment and Fashion Districts of downtown Toronto; and, most recently, Tableau Condos, now under construction at Richmond and Peter Streets.

Malibu has pioneered developing properties in emerging neighbourhoods. Malibus signature building, Malibu at Harbourfront, at Lakeshore and Bathurst, helped turn a once industrial area into a vibrant and now popular Fort York neighbourhood. This highly sought after residential community now includes Malibus boutique building LTD Condos.

Similarly, Malibus Gramercy Park project in North York, at the Wilson Subway and steps to Yorkdale Mall, was once a commercial area and is now in the midst of a booming residential renaissance. This beautiful terraced building of six, nine and 12 storeys, designed by Page + Steele / IBI Group with a private half-acre park, is now under construction with occupancies in Phase One almost complete.

Gramercy Parks location at 525 Wilson Avenue allows residents to access downtown in minutes via the subway or to any GTA destination via the 401 and Allen Road. Yorkdale Mall, Costco and Home Depot are a few of the fantastic amenities nearby. The building features a glass-enclosed lobby with 24-hour concierge, a well-equipped fitness room with private yoga studio, indoor oasis pool and whirlpool overlooking an outdoor sun terrace. For entertaining, there is a private movie theatre, games room and party room with a catering kitchen and private dining room. Outdoors, there are dining areas with barbecues. The beautifully landscaped private park with walkways and seating let residents enjoy the outdoors year round.

Malibu is committed to the highest standards of quality for all of its developments infusing smart urban design with todays lifestyle demands

Penthouse LivingWhen it comes to penthouse living, Gramercy Park offers spectacular open concept residences with nine-ft. ceilings, modern finishes including pre-engineered wood veneer flooring throughout, granite countertops with undermount sink in kitchens, marble countertops with undermount sink in bathrooms, stunning panoramic views of the city and two parking spaces included. There is still time to customize your penthouse unit from an array of finishes. These suites start at over 1,400 sq. ft., ranging from two-bedrooms plus den to three-bedrooms plus den, from the low $600s and will be move-in ready within six months. Only a few remain so call to book a private appointment at 416-902-8166 or visit the sales office located around the corner from the building at 9 Tippet Road.

Malibu prides itself on delivering modern amenities, architecturally stunning buildings and excellent customer service, and has established itself as a developer that will continue to enhance Torontos skyline in the future for the better.

For more information on Malibu and its projects, please visit malibutoronto.com.

have been responsible for the decline in new home sales for the third consecutive month, the Building Industry and Land Development Association (BILD) has reported.

According to RealNet Canada Inc., BILDs official source of new home market intelligence, 2,792 new homes were sold in October, which is the second-lowest October on record. Due to three low sales months in a row, year-to-date sales of 29,322 new homes across the GTA have slipped to 14 per cent below the long-term average.

The highrise sector still holds a prominent share of the market, with 1,914 sales in October 2012 totalling the fifth-highest October on record.

In an attempt to cool down the market, the federal government has severely affected the building and development industry in the GTA, says

New lending restrictions

BILD President and CEO Bryan Tuckey. The introduction of stricter mortgage regulations has triggered a decline in new home sales, and if this trend continues, it will affect job creation in the coming years, restricting economic growth.

The building and development industry plays a key role in the economic prosperity of the GTA and the Province of Ontario. Last year alone, the industry created 193,300 jobs and paid $10.1 billion in wages.

Tuckey says that first-time home buyers are those most affected under the new rules, which have taken a considerable portion of potential purchasers out of the market.

The RealNet New Home Price Index for a lowrise home rose 16 per cent over October 2011 to $616,623, while pricing for highrise homes increased two per cent to $439,328.

BILD will continue to monitor this trend as new projects enter the market in the coming months.

Exclusive listing brokerage: TFN Realty Inc. Brokers Protected. Rendering is artists concept. *Prices & specifications are subject to change without notice. See Sales Representative for details. E.&O.E.

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Humber River

Old Mill Drive

From the low $500s to over $1.7 Million

Riverhouse at the Old Mill, welcome to a world of elegance and sophistication, in the citys most desirable Old Mill neighbourhood. Meticulously designed suites, exceptional amenities, heirloom detailing and authentic craftsmanship.

ONLY 5% OR 10% DEPOSIT*

LIVE IN ONE OF TORONTOS MOST PRESTIGIOUS NEIGHBOURHOODSCONSTRUCTION HAS STARTED!

See virtual tour at riverhousecondos.ca or 416.766.7343

30 Old Mill Road, Toronto Monday - Wednesday: 12pm - 6pm Sat & Sun: 12pm - 5pm

Closed: Thursdays, Fridays and Holidays

RIVERHOUSE AT THE OLD MILL PRESENTATION CENTRE TEMPORARILY RELOCATED AT THE TREVISO PRESENTATION

CENTRE LOCATED AT DUFFERIN ST & LAWRENCE AVE W. FOR MORE INFORMATION CALL 416.787.8882

Exclusive Broker Milborne Real Estate Inc. Brokers Protected. Prices and specifi cations subject to change without notice. Promotions may be changed and/or cancelled at any time without notice. Only 5% deposit is required for one bedroom suites. Only 10% deposit is required for 2 bedroom suites or larger. Balance to 20% not required until occupancy. Limited time offer. Illustration is artist concept. E.+O.E.

luxurious livingRIGHT AT THE OLD MILL ON THE BANKS OF THE HUMBER.

OCCUPANCY FALL 2013

EXCLUSIVE LISTING BROKERAGE BAKER REAL ESTATE INCORPORATED. BROKERS PROTECTED. *PRINCIPLE, CMHC PREMIUM, INTEREST AND TAXES INCLUDED. BASED ON A 1 YEAR TERM AMORTIZED OVER 25 YEARS AT 3.1%. PRICES,SIZES AND SPECIFICATIONS SUBJECT TO CHANGE WITHOUT NOTICE. SEE SALES REPRESENTATIVE FOR DETAILS. E. + O. E. ILLUSTRATION IS ARTISTS IMPRESSION.

Exclusive Broker Milborne Real Estate Inc. Brokers Protected. Promotions may be changed and/or cancelled at any time without notice. Prices and specifi cations are subject to change without notice. Illustration is artist concept. E. & O.E.

PRESENTATION CENTRE IS LOCATEDAT THE NORTHEAST CORNER OFDUFFERIN ST. & LAWRENCE AVE.

MONDAY TO THURSDAY 12PM -6PMSATURDAY, SUNDAY 12PM - 5PM

FRIDAY & HOLIDAYS CLOSED

Put less down to live downtown.

NOW UNDER CONSTRUCTION. Suites starting from the $300s

Follow us on:

ASPEN RIDGE CONDO FINDER

77 Charles

Model Suite available to view.

Call Michelle Jalsevac for an appointment

416.203.7034 | 77charles.com

The people have spoken. Studio Condos on Richmond is the Peoples Choice winner for best new condo of the year.

Now, more than ever, it should be your fi rst choice too. For a limited time only, you can purchase one of the remaining

suites in this artistic new community with only 10% down. Life in the city just got a lot more affordable.

N

TOTALDEPOSIT

%10LIMITED TIME ONLY

Prices & specifi cations subject to change without notice. Brokers protected. E.&O.E. 2012 Aspen Ridge Homes. All Rights Reserved. Illustrations are artist concepts only. 19470

Visit the Sales Centre today.

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ASPEN RIDGE CONDO FINDER

Scenic on Eglinton

Presentation Centre:South on Brentcliffe Rd, left on Vanderhoof.

416.805.1781 | scenicliving.ca

Presentation Centre:

Sales Centre & Model Home

Duncan Street, just south of Richmond

647.35.ASPEN | studiocondos.ca

Mimi Ng is Vice-President of Residential Sales & Marketing at Menkes, one of the

leading home builders in the GTA with over 50 years of experience. Follow Menkes on

Twitter (twitter.com/menkeslife), Facebook (facebook.com/menkeslife) and Youtube

(youtube.com/menkesvideos).

t is an exciting time for luxury condo buyers in Toronto. During the past two years, the

city has seen the completion and opening of four major luxury hotel-condo projects: Four Seasons, Shangri-La, The Ritz-Carlton and Trump International Hotel & Tower.

Not only do each of these hotel properties bring tremendous excitement and vitality to the city, but they also give buyers in the high-end condominium sector a product offering that has never before been available in the marketplace.

Luxury hotel-condo development is new to Toronto, but it is a well-established trend in cities like New York, Boston, Miami, San Francisco and London. Several factors have contributed to the increasing popularity of these kinds of mixed-used projects.

From a hotel perspective, building a stand-alone luxury property is challenging and is often not financially feasible. Incorporating condominium residences into the project creates a built-in, permanent client base for the hotel.

From a condominium perspective, offering residents access to five-star hotel services and amenities represents the pinnacle of the carefree condominium lifestyle.

For residents, living in a hotel-condo is the ultimate marriage of service and pampering. From world-class dining to state-of-the-art fitness facilities, everything is literally a short elevator ride away. And sometimes you do not even have to leave the privacy of your home to enjoy the perks of the hotel; a simple phone call can bring room service and housekeeping straight to your door.

In some cases, the hotel amenities represent unique experiences that cannot be found anywhere else. For example, the new Four Seasons Hotel in Yorkville offers residents access to a stunning spa that spans two floors. At 30,000 sq. ft., with an indoor relaxation pool and a full range of treatment rooms, the spa is the largest luxury urban spa in Toronto and in any Four Seasons hotel worldwide.

The benefits of hotel-condo projects are not just limited to the lucky few who purchase in these buildings. The hotel amenities are open and accessible to everyone, whether they choose to visit the bar for a drink, get a treatment at the spa, or have a memorable meal in the restaurant.

In fact, some of the most exciting restaurants in Toronto can be found in the new hotels, including Momofuku Noodle Bar, Daisho and Shoto at the Shangri-La Hotel, and dbar and Caf Boulud by Michelin-star Chef Daniel Boulud at Four Seasons Hotel.

professionals turned up on November 20 for the Building Industry and Land Development Associations (BILD) Party for Humanity, and raised more than $30,000 for Habitat for Humanity Toronto.

The fourth annual event was held at the Warehouse in Downsview Park, and attendees dressed in their favourite white pieces, in accordance with the partys white out theme. Fundraising efforts included a silent auction, raffle and a wardrobe tax for those whose attire lacked the mandatory white piece.

This event has been a tremendous success in each of its first three years, but we chose to think outside the box this year and try something different, said BILD President and CEO Bryan Tuckey. Our team is always thinking of new, creative ways to raise money for our community partner, Habitat for Humanity Toronto, and this event is yet another example of how committed this industry is to giving back to the community.

BILDs Party for Humanity is one of four major fundraisers for the charity. The Association has supported Habitat since 2003 and has since raised more than $535,000 toward its goal of building

for Habitat for Humanity

affordable homes for low-income families. In addition to raising money, the event celebrated

the leadership of Paul Golini, who concludes his two-year term as BILD Chair at the end of the 2012.

People often ask me where I get the energy to do this, and I tell them that it is all about passion passion for the industry, this association and the people within it, Golini told the crowd before thanking his wife, Sharan, and family for their support during his term. Its really been a remarkable couple of years for me and I thank you all very much.

Currently, my wife and I are renting. However, we would

like to buy a home and build some equity. Can you off er some advice for a young, upwardly mobile couple? Geoff rey and Diane, Toronto

Th ere are many investment vehicles that can give you

healthy returns. You do not necessarily have to buy a home to increase your wealth. However, a home is one of the only tax-free investments still available to the middle class. Buying a home is a long-term commitment and

The opinions and views expressed herein are those of the author and not

those of New Condo Guide. New Condo Guide does not necessarily endorse or encourage any specific tax strategies.

Please consult a tax professionalfor advice specific to your

particular situation.

Henry Choo Chong, CGA, sits on many committees and provides accounting and

tax services to individuals and businesses in the GTA. He can be reached at 416.485.5225.

Questions to Taxing Issues can be emailed to choochonghcga@yahoo.ca

investment. Todays historically low interest rates make purchasing a home extremely appealing particularly if your rent paid is greater than $1,000 per month. Why should you pay someone elses mortgage?

Determine what you can aff ord and stick to that price. All too often, buyers tour several homes and the only one they desire happens tobe thousands of dollars over their budget. Remember, keep your head out of the clouds. Commit to a mortgage, not a stress asylum.

Shop and negotiate with several fi nancial institutions for the best interest rate, terms and conditions. You may be surprised at how competitive the banks are for your mortgage business. Shopping for a mortgage can be as easy as a few clicks of your mouse.

Set a formal plan to help save for a fi rst home. Sit down, plan the steps necessary to achieve your goals, and follow through!

Improve/maintain your credit rating by paying all your bills on time. One-day-late payments are still considered late. Th is could infl uence your negotiating power for the best mortgage.

Make sure current monthly mortgage payments are manageable andwill continue to be so even when interest rates rise in the next several years and payments increase.

Put down as much as possible to avoid taking out a high-ratio mortgage that incurs additional cost and interest. A fi ve-per-cent down payment on a home leaves little equity.

Set aside an additional three per cent of the purchase price of thehouse for closing costs such as Land Transfer Tax, legal fees and disbursements, moving costs and other incidentals. Speak to yourlawyer who will be able to give you the heads up on what to expect.

Take advantage of the fi rst-time Home Buyers Plan (HBP) to use your Registered Retirement Savings Plan (RRSP) as part of the down payment. An individual and spouse, provided they qualify, may withdraw up to $25,000 each from their RRSP, tax-free, for a total of up to $50,000 toward your home and other purchase-related costs. If you have never used the HBP, contribute your savings for the home into your RRSPs and take advantage of the tax deduction. Th en, use these savings for a down payment. You will have 15 years to repay the amounts to your RRSP, starting after the second year of your withdrawal.

Continue to follow the real estate market trends and buy when you are ready, not when the market is ready for you.

MODEL SUITENOW OPEN

by

CENTROSQUARE.CA | 905-851-8877

A visionary master-planned community in the heart of Woodbridge. A soaring tower with a dramatic podium, connecting you to a world of elegant suites, amenities and retail services. This is where it all comes together with style and class.

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Mon. - Thurs.: Noon - 7 p.m.Weekends & Holidays: Noon - 6 p.m.

Fridays: Closed

TERRACE ON DANFORTH3575 Danforth Avenue

THE FOUNTAINS7890 Bathurst St.

WORLD ON YONGE1 Steelcase Rd. W. (enter off Woodbine)

NEW LOCATION!ROYAL GARDENS505 Highway 7 East, Unit 61

DANFORTH AVE.

*As per price list. Limited time offer. **Principal and interest.

***At colour selection. All renderings are artists

concept. Prices, specifications and availability subject to

change without notice. E.&O.E. Brokers protected. See Sales

Representative for details.

BY PRIVATE APPOINTMENT ONLY MON., TUES., THURS., FRIDAY

WED., SAT., SUN. + HOLIDAYS 12 P.M. TO 6 P.M.

TerraceOnDanforth.ca 416-987-7575 | info@TerraceOnTheDanforth.ca

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Jayson Schwarz LL.M. is a Toronto real estate lawyer and partner in the law

firm Schwarz Law LLP. Visit schwarzlaw.ca or email info@schwarzlaw.ca and

give us your questions, concerns, critiques and quandaries.

anadian winters being what they are, many of us like to flee for either the

short term or long term to the sun, sand and heat whenever we get a chance. While we are enjoying the warmth, we are often drawn to the siren song of homeownership at our favourite destination.

Maybe its the urge to plan for retirement, additional income or the certainty of having a place of your own to come back to year after year, but one thing is for sure, Canadians have never been more interested in owning foreign property than now. Thanks to low interest rates and a stable economy, Canadians have the upper hand and the world knows it.

However, homeownership in another jurisdiction means a slew of considerations that are complex and at times overwhelming. In the U.S., for example, there are estate tax issues that come up, and you may require a specially designed Trust to avoid

Uncle Sam as a partner with you or your kids after your death. There are issues of law if the country does not have a British system and

if its run on civil or Napoleonic law; Martinique and St. Martin are examples. There may be other issues of property ownership such that foreign nationals may only be able to lease, not own.

The next issues relate to the vendor. Are you purchasing from a reputable organization? If it is a condo, how are you sure the developer will be around if things go wrong? What guarantees are there on your deposits if they go broke and does not finish the project?

It sounds like a lot to think about but it was so easy to sign up during the tour. So, really, what are you buying? Are you buying a timeshare, outright ownership or a long-term lease?

Here is a list of a few questions that need to be answered on a preliminary basis on a resort or new condo purchase before you make any offer:1 Location why are you choosing this location for a second home?2 How much time will you spend in a typical year in your second home?3 Will you typically bring friends and family?4 What are the common fees and how are they set and controlled?5 What are resales like for the development?6 What is the legal structure and laws that apply in the country you are looking

at purchasing?7 Would you rent the property, and if yes, what are your

expectations and needs on rental income?8 What security is there for deposits and payments?

Here is the litmus test to go forward:A How did the resort or sales centre answer those eight questions?B Did they satisfy you with their knowledge and professionalism?C Did they try to push you into signing something without the opportunity to

consult with a lawyer?

If those questions are answered to your satisfaction, then you know you are in the right place.

If you have an intention to buy, make inquiries and find a lawyer, possibly a referral from your lawyer or friends at home. You need to understand the tax implications of a purchase, and more importantly, the tax impact if you sell for a profit or earn income. As an example Barbados is a Canadian tax treaty partner and you may get favourable consideration on a capital gain or on rental income. Each country is unique and you need a lawyer or accountant to help you figure it all out.

Buying a second home in a warm locale is a dream many Canadians share. If the deal is properly structured, the home you purchase can bring years and years of happy memories and, quite possibly, a great return down the road. Good luck.

ONE DOWNTOWN EAST!

ASK ABOUT

*

Gerrard St. E

Oak St.

Cole St.

Dundas St. E

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500 Dundas St. East,Toronto

12pm - 6pm 12pm - 5pm

closed

here is still an opportunity to own a brand new condominium in the heart of Torontos fastest growing neighbourhood. But hurry the recent opening of Th e Daniels Corporations One Park Place Condominiums

was a phenomenal success, and this incredible new residence is already over 80 per cent sold. Buyers were swept away by the superb location within the award-winning Regent Park revitalization, as well as the striking architecture and spacious suite layouts.

Daniels fourth condominium residence in the neighbourhood, One Park Place is well under construction at Dundas and Sumach Streets and is located off of a pedestrian-friendly Urban Mews named Regent Park Boulevard. Once completed, the urban mews will act as a community gathering place and an ideal destination for local festivals, markets and performances. Th e mews will also connect many of the amenities throughout the community including the six acre park, the newly opened Regional Aquatic Centre and Daniels Spectrum a 60,000-sq.-ft. cultural hub that is now open to the public and bustling with activity in music, dance, theatre and fi lm. Right next door to Daniels Spectrum is Paintbox Bistro; this new culinary hot spot is the vision of renowned Toronto Chef Chris Klugman. With its charming atmosphere and professional staff , most of whom are from the Regent Park community, this is the perfect place to relax and grab a bite to eat with friends or family.

MUCH LIKE THE OTHER CONDOMINIUM RESIDENCESWITHIN THE REGENT PARK REVITALIZATION, ONE PARK PLACEIS BEING BUILTTO THE LEED GOLD CERTIFICATION STANDARD

But thats not all. One Park Place is just steps from FreshCo. by Sobeys, Rogers, RBC Royal Bank, Tim Hortons and public transit at Dundas and Parliament Street. A downtown Toronto location doesnt get any better than that!

Within One Park Place, suite owners will have access to over 45,000-sq.-ft. of indoor and outdoor amenities at Club Uno including two squash courts, a half-court gymnasium, fi tness studio, indoor/outdoor yoga and Pilates studio, party room, billiards rooms, piano lounge, and an outdoor terrace with barbecues, lounge spaces and a ping pong table. Much like the other condominium residences within the Regent Park revitalization, One Park Place is being built to the LEED Gold Certifi cation Standard, and will off er residents an environmentally-friendly way of life with bicycle storage and several energized parking spaces for future environmentally friendly cars.

Homeowners will also be able to growtheir own herbs, fl owers and spices in the resident gardening plots located on the fi fth-fl oor outdoor terrace. Committed to promoting urban gardening, Daniels will introduce residents to a third party groupwho will conduct seminars on urban gardening. Attendees receive the tools and information they need to start and maintain successful gardens right in the comfort oftheir own home.

Th e suites at One Park Place off er fantastic fi nishes including stainless steel appliances, contemporary Quartz countertops, laminate fl ooring throughout, and kitchen and

bathroom designs by award-winning interior designer Cecconi Simone. Purchasers get all of this for prices that begin from the low $200s. And for the ultimate in aff ordability, buyers can take advantage of Daniels fi ve per cent Gradual Deposit Payment Plan. Pay $3,500 with the Agreement of Purchase and Sale, then $1,000 each month until you reach fi ve per cent of the purchase price. Plus, Daniels First Home Boost Program enables qualifi ed buyers to increase their down payment from fi ve per cent to 15 per cent of the purchase price through an exclusive interest-free, payment-free loan.

Th e Daniels Corporation (danielshomes.ca) is one of Canadas preeminent builder/developers with a reputation for quality and integrity in all forms of residential construction. Named the Tarion Warranty Corporations 2012 Highrise Builder of the Year and the recipient of the 2012 Toronto Arts and Business Award presented by the Toronto Arts Foundation, Daniels has built more than 23,000 homes throughout the GTA. Among its many initiatives, Daniels was chosen to partner with Toronto Community Housing to revitalize Regent Park 69 acres in Torontos Downtown East. Committed to community, Daniels continually off ers innovative programs that help people achieve homeownership, champions neighbourhood initiatives that enhance residents quality of life, and supports numerous charities and non-profi t organizations.

AMONG ITS MANY INITIATIVES, DANIELS WAS CHOSEN TO PARTNER WITH TORONTO COMMUNITY HOUSING TO REVITALIZE REGENT PARK 69 ACRES IN TORONTOS DOWNTOWN EAST

celebrating on December 31st, that day can be nervewracking for those who havent considered year-end tax planning strategies, according to RBC Wealth Management.

December 31 is second only to April 30 as a crucial date in the tax planning calendar, says Tony Maiorino, vice-president and head, RBC Wealth Management Services. Because this date represents the last day of the year that potential tax savings opportunities are available, you need to start planning now to help achieve your financial goals.

Here are 13 potential tax-planning strategies to consider:

If you are a business owner with an incorporated company, you may find both year-end

corporate income tax deductions and a structured retirement savings plan for yourself through an Individual Pension Plan (IPP).

As a business owner, consider paying salaries to yourself and appropriate family members

before December 31. This strategy can give your family members earned income enabling them to make an RRSP contribution the following year and giving your business a tax deduction in the current year.

If you are a business owner and intend on purchasing assets for your business (e.g. computers),

purchasing them before December 31 may allow your business to claim depreciation on these assets for tax purposes.

With Canada Revenue Agency (CRA) stating the prescribed interest rate will

remain at a historical low of one per cent until December 31, it is an opportune time to consider establishing or modifying a spousal loan as a possible income splitting strategy.

If you have unrealized capital gains, you may want to consider deferring them until after

December 31 if your marginal tax rate may be lower in 2013 compared to 2012.

13 essential Are you facing a large capital gain in 2012? If so, you may wish to maximize the opportunities associated with selling securities that have an unrealized capital loss to help reduce your tax liability or obtain refunds for taxes paid in previous years.

The final day to make contributions to a registered charity in order

to claim the donation tax receipt on your 2012 income tax return is December 31. However, if you plan on donating securities in-kind before year-end, ensure that you start this process well in advance.

If you are turning 71 in 2012, you cannot have an RRSP after December 31. Consider making your expected 2013 RRSP contribution in December before converting your RRSP.

Are you receiving an employer bonus by December 31? Deferring

it may be a wise choice for you if you are expecting to be in a lower tax bracket in 2013.

If you are contributing to an RESP, youll want to ensure you have contributed the maximum allowed in order to qualify for the 20 per cent Canada Education Savings Grant by December 31.

If you plan to move within Canada, consider that

individuals pay provincial tax rates on taxable income based on their province of residence on December 31. Since marginal tax rates vary from province to province, you may want to consider moving prior to December 31 if you are moving to a province with a lower tax rate.

If you make quarterly tax installment payments to

the CRA, you should consider making your final payment on or before December 15 to avoid late interest charges.

Remember to pay all investment management fees, tuition fees, safe

deposit box fees, accounting and legal fees if deductible, childcare expenses, alimony, medical expenses and any business expenses by December 31 if you want to deduct them on your 2012 tax return.

Life is remarkable in one of the fastest growing cities in Ontario. A charming community, where neighbours still say hello. Where parks, shopping, restaurants and golf courses are all nearby. Where you can relax in a brand new space with all the amenities and conveniences of a remarkable life.

Remarkable residences. Across from Mount Joy Go Station.Starting from $199,990.

Register today

the m a r kco n d os .ca

Exclusive listing brokerage: TFN Realty Inc. Brokers protected. Prices, sizes and specifi cations subject to change without notice. E. & O.E. Illustration is artists impression. Creative: la-ads.com

regulators from across the country have partnered to establish the Mortgage Broker Regulators Council of Canada (MBRCC). Th is means regulators from participating provinces will have a forum to improve consumer protection, develop national solutions to shared concerns and promote harmonization of Canadas mortgage broker regulatory practices.

It is critical to work more closely together now, says Kirk Bacon, chair of the MBRCC. Mortgage risks are becoming increasingly prevalent, the market is growing more complex and many regulations need to be modernized to keep up.

Provincial regulators to increase

Th e partnership signals a new era of coordination and information sharing among regulators as well as a national approach to identifying and addressing issues in the mortgage broker industry.

Th e MBRCC strategic plan for 2012-15 has also been released, outlining the strategic priorities and initiatives of the organization for this period.

One important initiative is the development of competency standards and curriculum requirements for mortgage brokers.

In addressing consumer protection concerns, the MBRCC committed to assessing practices that ensure mortgages are suitable and will also review the information consumers receive about the material risks involved in a mortgage.

We believe the next three years will bring about positive changes not only to protect mortgage consumers in Canada, but also in industry standards and professionalism, Bacon says. Th e MBRCC looks forward to working closely with consumers, industry and other interested stakeholders in bringing these changes to fruition.

INTRODUCING THE SKY RESIDENCES8 NEW FLOORS IN THE SKY

Exclusive Listing Brokerage: Baker Real Estate Incorporated. Brokers Protected.Prices and specifi cations are subject to change without notice. Illustration is artists concept. E.&O.E.

g gg g

Dupont St.

Bloor St.

Wellesley St.

45 Charles St. E.

University A

ve.

Bay St.

Yong

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Church St.

Avenue Rd.

College St.

Yorkville Ave.

PresentationCentre

PRESENTATION CENTRE LOCATED AT 101 YORKVILLE AVE. SITE LOCATED AT 45 CHARLES ST. EAST

MON. THURS.: 12PM 6PM, FRI.: 2PM 6PM, SAT. & SUN.: 12PM 6PM, STATUTORY HOLIDAYS: CLOSED

8 NEW FLOORS AND 88 MAGNIFICENT SUITES FROM FLOORS 42 AND UP, OFFERING SPECTACULAR VIEWS OF DOWNTOWN TORONTO. SIGNATURE YORKVILLE LIVING RAISED TO A NEW STANDARD. SPACIOUS, MAGNIFICENTLY APPOINTED SUITES WITH PANORAMIC

CITY AND LAKE VIEWS. LAVISH AMENITY SPACES TO ENJOY THE HIGH LIFE. LEED THE WAY IN GREEN LIVING WITH THE ZIP CAR SHARE PROGRAM.

OWN THE SKY

VISIT THE SALES CENTRE TODAY!

NOW UNDER CONSTRUCTION

www.CHAZyorkville.com416.922.0045

GRAND

OPENING

CONDOMINIUMS FROM THE LOW $300S TO $2.5 MILLION

Mark Mandelbaum is Chairman of Lanterra Developments. During his career,

Mark has managed the acquisition, development, servicing, marketing and sale of thousands of acres of residential,

commercial and industrial land throughout the GTA.

oronto has undergone a very significant evolution in the past decade. There has been a tremendous pace of development in the downtown core, with the addition of approximately 30,000 condominium units per year in

that time frame. One characteristic of this development is that the higher density created by highrise living means more people commonly use and share more urban support and services.

A concentrated, urban lifestyle creates some obvious benefits, including more optimized use of public transportation, and the general vibrancy associated with creating integration and proximity of residential, commercial and retail activities within the downtown core.

In addition, at Lanterra, we have always placed a strong emphasis within our buildings on the creation of shared space and amenities that allow residents to live large through the use of lounges, lobbies, private reception, exercise and social gathering areas. We believe this approach serves to bring people together and consider their living experience beyond the dimensions of their individual residences.

However, a truly dynamic urban lifestyle goes beyond these factors alone and is greatly enhanced by the creative use of public space and the expansion of public art. Through the wisdom of city planners many years ago, Toronto adopted the Public Art program which mandates that developers provide one percentage point of the overall construction costs of a project to the purpose of public art. Along with many other developers in the city, Lanterra has been a proud participant in this program over many years. We have been actively

involved, in terms of both time and money, by participating in the jury selection process used to help select and engage artists from Canada and around the world in the creation of public art installations in Toronto.

On behalf of Lanterra I have been involved in a number of public art projects. With five major art installations over the past decade, I am proud of the impact these projects have had on our community. Each project, by its very nature, is specific to the location and the selection process involved. But, I have always felt that a public art installation can be exemplified not just by how it compliments a development, but how it can serve to define it.

Our latest initiative in this regard is represented in the recent unveiling at Burano Condominiums of the Fresco entitled, Glass Memory by renowned Italian artist Sandro Martini. This is a truly dynamic creation and the use of colour and scale is so compelling that one cant help but be inspired by its scale and impact, with the panels individually measuring as large as 150 by 100 feet. But what may be truly fantastic about this art piece is the way in which it influenced and shaped our thinking on the building itself.

With something this dramatic, we wanted to create an environment that would truly maximize the visibility of this wonderful work and to do that we actually shaped our plans for building design around the art itself.

Glass Memory at Burano will be easily viewed from the street day or night by virtue of the fact that it is housed within 3,500-sq. ft. and a 50-ft. high glass frame that is the street level faade of the building itself. Combined with carefully considered interior lighting and exterior landscaping, Lanterra has ensured that the art will become a fixture, not just for the building, but for the surrounding street itself. Bay Street is easily one of the busiest main streets in Toronto, and the impact of this art will be recognized by pedestrians and motorists alike.

In addition, we have carefully considered the use of the interior surrounding space itself to provide for an interior environment that can have a contemplative character to it and allow for a greater opportunity to sit, relax and fully appreciate the creation. For that reason, we are specifically looking to have a food service type of tenant in place that can enable this vision while respecting

the openness of the space itself. Our design specifically avoids the use of ventilation that would accompany a more intensive restaurant environment and is, in contrast, designed to accommodate a tenant that can amplify the experience of the art itself.

Increasingly, I believe this is the type of consideration that needs to factor into the design and creation of public space in Toronto because of the vital and important role that this plays in the life of our city. Public art is widely recognized as being a boost to economic development and for adding character and depth to neighbourhoods, which encourages tourism by making communities more of a destination.

I also believe that public space and public art can create, as the City of Toronto Urban Design Guideline indicates, unexpected moments of beauty, amusement, reflection or intrigue. This latest initiative by Lanterra accomplishes this and we look forward to using this project as a guiding inspiration for our future development plans in Toronto.

boast their new community is just minutes from shopping, schools and all the amenities!? And that Everything you need is right at your doorstep?

Th is is not just marketing gimmickry at work. Th ese factors really matter, as such attractions are critical in determining a developments appeal to buyers for lifestyle and comfort while living there, as well as resale potential down the road.

However, one of those factors carries alittle more weight than the others: proximityto infrastructure.

Th e federal and provincial governments have been spending billions on infrastructure improvements over the last few years to upgrade highways, transit systems, airports and other services such as health care. For housing developments, this means more and better access.

In such cases, its no exaggeration to say the infrastructure developments have allowed new communities to literally sprout up along the way.

Numerous studies throughout North America and elsewhere show that proximity to mass transit and highways has the most signifi cant impact on

property values, since it improves residents accessibility to a citys central business district and other areas with employment opportunities.

Th e greatest benefi t, according to Vancouver-based Cutting Edge Research Inc., is for properties located within 500 metres of stations along new transit lines. Value enhancements can be 10 to 20 per cent higher for homes within this distance than those outside it.

Distance is now measured in minutes, not kilometres, says Don Campbell, president of Cutting Edge, summarizing a principle that homebuyers anywhere can follow: as people increasingly factor commuting times into their buying decisions, proximity to transportation is a top determining factor for both convenience and resale value.

While youre out there shopping for your new home or condo, take a look around and see how close you are to the nearest highway or transit line. Th en follow the tracks to those housing projects and communities and your new home that will make a sound buying decision.

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with the majority of Canadians (77 per cent) indicating their home is an investment rather than an expense, according to a recent Scotiabank poll.

Canadians view their home as

What I want Canadians who are feeling a little overwhelmed in paying off their mortgages to know is that paying off their mortgage is totally achievable, and the great news is that a number of Canadians who were in the same position have reached the goal of being mortgage-free, says David Stafford, managing director of real sstate secured lending at Scotiabank.

With rates at historic lows, theres never been a better time to take years off your mortgage. Weve helped customers across the country become mortgage-free faster. By visiting our financial advisors, you can receive personalized advice on how to do the same without an impact on your lifestyle.

The investment may extend beyond retirement for some; among those mortgage holders not yet retired, one-third (32 per cent) say they will likely still have their mortgage when they retire. That said, Canadians are eager to leave their mortgages behind, with almost three-quarters (72 per cent) of Canadian mortgage holders taking at least one step to becoming mortgage-free faster. When it comes to mortgage-mindset, Canadians are thinking in the right direction:

Consider the following checklist of questions, from Cutting Edge Research Inc., for analyzing the potential of an area. Th e more yes answers you get, the better the location.

1 Is the areas average income increasing faster than the provincial average?

2 Is the areas population growing faster than the provincial average?

3 Is the area creating jobs faster than the provincial average?

4 Does the area have more than one major employer?

5 Will the area benefi t from an economic or real estate ripple eff ect?

6 Has the political leadership created an economic growth atmosphere?

7 Is the Economic Development Offi ce progressive and helpful?

8 Is the areas infrastructure being built to handle the expected growth?

9 Are there any major transportation improvements in the works?

10 Is the area attractive to baby boomers lifestyle?

11 Is there a short-term problem occurring that is likely to disappear in the future?

12 Is there a noted increase in labour and materials cost in the area?

Do you want to live in a city, a town or in the country?

Where do you work, and how easy will it be to get there and at what are the com-muting costs?

If you have or plan to have children, where will they go to school and how will they get there?

Do you want safe walking areas, recre-ational facilities or other amenities such as shopping nearby?

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markets demonstrated remarkable resilience in 2012 despite tighter financing and economic uncertainty abroad. According to a recent report by Re/Max, home sales were up or on par in 65 per cent of major centres this year, and the trend is expected to continue, with home-buying activity propped-up by low interest rates and an improved economic picture in 2013.

The Re/Max Housing Market Outlook 2013, which examined 26 major markets across the country, found that the number of homes sold is expected to match or exceed 2011 levels in 65 per cent of markets in 2012, led by strong activity in Western Canada, including Calgary (up 13.5 per cent) and Regina (up eight per cent).

Eighty-one per cent of markets are set to experience average price increases by year-end, with Hamilton-Burlington, Greater Toronto, and Fredericton at seven per cent and Saskatoon at 6.5 per cent. The forecast for 2013 shows the upward trend moderating, but values still ahead of 2012 levels in 85 per cent of centres. Stability is forecast to characterize Canadian real estate in the New Year, with sales above or on par with 2012 levels in 81 per cent of markets.

Nationally, an estimated 454,000 homes will change hands in 2012, falling one per cent short of the 2011 level. And the average price of a Canadian home is expected to remain

is the key word for Canadian housing markets in 2013

stable at $364,000 in 2012on par with the figure reported in 2011.

Looking forward, there are a number of factors on the horizon that will serve to bolster residential activity in 2013, says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. Canadas economic performance is expected to show signs of improvement, particularly in the latter half of the year, which should bode well for housing markets across the country. Historically low interest rates will also continue to drive healthy home-buying activity, especially in the move-up segment.

The report found that low interest rates were a major impetus in 2012, fuelling sales of homes across the board. Tight inventory levels also factored into the equation early in the year, causing a flurry of activity in many centres. By mid-year, however, the third round of CMHC mortgage tightening had a noticeable impact on housing markets, pushing homeownership beyond the grasp of many first-time buyers.

Despite all the negativity surrounding residential real estate, the sky is not falling, says Gurinder Sandhu, Executive Vice President and Regional Director, Re/Max Ontario-Atlantic Canada. Home sales have moderated, but remain within healthy levels. Greater optimism is expected to return next year, as the economy marks further improvement.

While first-time buyers will continue to have a significant presence in the overall marketplace, they are expected to take a back seat in 2013 in Canadas largest marketswith move-up buyers the new engine driving home-buying activity. The greatest advance in home sales is expected in Vancouver (12 per cent), Calgary (10 per cent), Halifax (five per cent), Kingston (4.5 per cent) and Saint John (four per cent). More balanced market conditions are expected in 2013 throughout the majority of markets, with supply meeting demand.

Roland Rom Colthoff is Director of RAW. The firm is one of Torontos

fastest growing architecture studios and was named Best Emerging

Practice by the OAA in 2009. In recognition of his ongoing

commitment and contribution to the architecture of the city, Roland was

recently appointed to the City of Toronto Design Review Panel.

orontos uniqueness stems from its many diverse neighbourhoods, each with distinct urban qualities. These recognizable communities cluster around portions of our main streets and become a destination for various

activities and shopping. Over recent years, for a variety of economic and cultural reasons, there has been a renewed interest from homebuyers in living downtown, particularly in these established and attractive neighbourhoods.

Many of these people are looking for an alternative to highrise living. Instead, they want to invest their money in a desirable neighbourhood that they know and want to be part of, whether it is for the shopping, restaurants and nightlife, or a lifestyle near a school, park or even a short walk to the local butcher. This increasing demand, along with Torontos condo boom, has resulted in the emergence of a more modest type of residential development: the midrise condo.

Designed to fit in small sites formally occupied by parking lots, car garages and other underused spaces along our main streets, midrise condos are significantly smaller than their highrise counterparts (with no more than 50 to 70 units and between four and 12 storeys in height).

As the city seeks a sustainable solution for a more distributed and incremental form of intensification and growth, it has been determined that major streets already characterized by significant retail activity and good transit are ideal places for midrise condo developments. Building a midrise is

an effective way to fully utilize existing built infrastructure with minimal impact and to ensure a communitys long-term sustainability by providing more residents to support local activities and businesses.

As a result, we are seeing an increase number of midrise condo projects popping up on popular streets like Queen, College, Dundas and Ossington. We are also starting to see the midrise concept expand to neighbourhoods further from the core.

Midrise condos provide the opportunity for many people who do not want, or cannot afford, a house in the city to become part of a recognizable neighbourhood and build on its positive qualities. Midrise condos also provide empty-nesters and their children an opportunity to stay within a community they already know or were raised in.

In addition to neighbourhood access, the midrise offers purchasers a number of lifestyle benefits compared to its taller counterpart. To start, the scale of a midrise project provides purchasers with a greater sense of community even within their own building.

A pleasant surprise of midrise design is its diverse selection of suite layouts. Midrise developments designed following the citys midrise guidelines typically need to progressively step back at the upper floors which results in a wide variety of suite types and sizes. At the upper floor levels, midrise condos also typically feature a series of larger units fronting onto broad terraces creating some very attractive living environments for the end-user.

RAW is working on a number of these sites across the city from Mimico to Roncesvalles and Gerrard to Woodbine. As architects, we are particularly interested in this form of building as it is a responsible way to grow our

neighbourhoods, ensure economic vitality and activity on our streets, and because they offer a unique design challenge which stems directly from their particular location and context. RAWs designs for midrise condos are widely diverse in appearance, reflecting our desire to create unique buildings that reflect the distinct qualities of each of the sites.

For example, in our 109OZ project located at 109 Ossington, we carefully crafted individual components to relate directly to the heights of adjacent buildings. We also used a mix of materials and forms, which we feel reflect the surrounding structures and Ossingtons dynamic streetline. The result is a playful faade that will become a lively and engaging addition to the neighbourhoods main street.

We look forward to seeing the completion of 109OZ and the many other midrise projects underway throughout the city, and are excited to see them evolve with their residents as worthy and sustainable additions to Torontos vibrant and diverse neighbourhoods.

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on November 20th at the official groundbreaking of 36Hazelton, a luxury boutique condominium in Torontos Yorkville neighbourhood.

Robert Cooper, president of the Alterra Group of Companies and Kenneth Zuckerman, president of Zinc Developments, gathered together with close to 100 people, including 36Hazelton purchasers, the design team and invited guests to celebrate the breaking of ground at what was once St. Basils Separate School.

Certainly, everyone here knows the location speaks for itself, said Robert Cooper, who officiated the ceremony. The quality and finish of the building must also speak for itself and be like no other in the city. We absolutely recognize this fact and plan to deliver nothing but the best.

36Hazelton is a European-inspired project that will seamlessly integrate a historical structure with a modern condominium residence. The intimate building will feature 19 private residences along beautiful

breaks ground

tree-lined Hazelton Avenue. The seven-storey residence will incorporate the faade of the former St. Basils school, and the historical building will be transformed into an elegant, luxurious condominium. The design offers owners one-of-a-kind configurations featuring no two units the same.

For more information on 36Hazelton, or to make a sales centre inquiry on the select few remaining suites, please visit 36hazelton.com.

Rendering is artists concept. Prices and specifi cationsare subject to change without notice. E. & O. E.*10% depost for a limited time only. See sales representative for more details.

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but a bit of planning can reduce your tax liability.

Its not too late to change what will go on your 2012 tax return when this season rolls around, says Gary Dent of the accounting firm Grant Thornton.

Dent recommends talking to your accountant about these last-minute tax planning tips:

If you have a capital gain in 2012 (or in any of the last three years), talk to your accountant about selling investments with accrued losses before the end of the year. If your spouse has realized a capital gain and you have an unrealized loss (or vice-versa), there are ways to transfer the loss to the spouse with the gain. Since most mutual funds distribute income and capital gains once a year around mid-December, deferring the purchase until January will mean that you wont have to report any income for 2012. If youre planning to sell, consider doing it before the distribution date so instead of reporting an income allocation, youll realize a capital gain or loss.

End-of-year

Make certain payments before the end of the year to realize tax savings: some medical expenses; fitness costs and registration fees for artistic, cultural, recreational or development activities for your children under 16 (under 18 for disabled children); public transit costs; investment costs (safety deposit box rental, interest and brokers fees); moving costs; tuition fees