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Housing subdivision

Real estate and the 2022 federal budget

The Canadian real estate sector is experiencing a roller-coaster year, with markets catching fire in regions across the country, then cooling down on the heels of interest rate increases and changing mortgage stress tests.

Melissa Aveiro, Ontario Regional Tax Leader & National Real Estate and Construction Tax Leader, MNP, May 17, 2022

 

The 2022 federal budget attempted to address some of the challenges facing Canadians, although issues around supply chains and rising costs remain.

While many of the announced measures in Budget 2022 are steps in the right direction, specifically in the housing sector, more can be done to reduce roadblocks in the real estate and construction sector. In this article, we break down several of the measures that could impact you and your business.

Business tax measures

Among the business-related tax measures announced in the budget was the change to the small business deduction, which has been expanded to include Canadian-controlled private corporations with higher capital balances. The budget proposed to increase the upper range of the taxable capital range to $50 million, from $15 million.

READ MORE >>

in Editorial Posted by wpengine
Sold sign at house in Hamilton

Hamilton saw second greatest yearly increase in home prices last month: report

The average sale price for a detached home in Hamilton was $1.06 million in April.

By Fallon Hewitt, Spectator Reporter

Thu., May 19, 2022

New data from the Teranet-National Bank shows that Hamilton house prices have soared by nearly 30 per cent in the last year.

Released Wednesday, the monthly composite house price index report showed Hamilton’s rate of skyrocketing prices trailed only Halifax among 11 urban areas across Canada last month. READ MORE >>

in Editorial Posted by wpengine
McMaster Innovation Park

McMaster Innovation Park wants more residential development

Steve McLean, May 16, 2022

A multiresidential housing component was always planned for the McMaster Innovation Park (MIP) in Hamilton, but now its developer wants more.

Current zoning allows for residential uses on the employment lands to amount to eight per cent of overall gross floor area in a maximum of two buildings. MIP, however, has asked Hamilton city council and staff for permission to boost that to 15 per cent and have 524 residential units in buildings of 26, 22 and 14 storeys.

“As the innovation park has evolved and the density has increased for life sciences, the appropriate ratio of 15 per cent of the GFA was requested as a revision based on a residential study,” MIP vice-president of development and design Frances Grabowski said in an email interview with RENX. READ MORE >>

in Editorial Posted by wpengine
Modern house

RAHB realtors release April 2022 market statistics

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,298 sales of residential properties located within the RAHB market area through the Multiple Listing Service® (MLS®) System in April 2022.

  • Sales were down by 20.7% month over month, and down by 31.3% compared to April 2021.
  • There were 2,451 new listings in April, which was down 3.6% month over month, and compared to April 2021, there was a decrease of 7%.
  • The average sale price for residential properties across the RAHB market area was $1,013,081, which was down 5.6% over the previous month, and up 18.2% compared to April 2021.
  • The inventory of listings increased to 1.2 months of inventory in April compared to 0.7 months in March. READ MORE >>

RAHB REALTORS® RELEASE APRIL 2022 MARKET STATISTICS

in Editorial, Thought Leadership Posted by wpengine

Blackstone keeps focus on Canada: To open Toronto office

Don Wilcox, May 9, 2022

As Blackstone continues to increase its investments in Canada, the world’s largest real estate owner and operator has announced it will open an office in Toronto and appointed Janice Lin to head its real estate operations in the country.

The New York-based global investor says its current portfolio in Canada comprises about $14 billion in assets (all figures Cdn), or 429 properties, with about 75 per cent of that value in the logistics sector. READ MORE >>

in Editorial Posted by wpengine
Japanese Lucky Coin Cat

Super rich individuals are private equity’s growing LP base

By Jessica Mathews, May 4, 2022

It’s been happening for over a decade. Rather than settle on endowments or pension funds, the biggest private equity firms are also looking to a new cohort—the world’s richest people—as a source of capital.

In 2018, a Blackstone Group executive famously predicted that retail investors would make up some 50% of the firm’s assets under management in five to 10 years. READ MORE >>

in Editorial Posted by wpengine
Skygauge Robotics drone

Innovative Drone Startup Lands In Hamilton

A company that specializes in developing drones for performing industrial inspections with greater safety is coming to the former Spectator Building that is now part of the McMaster Innovation Park.

Skygauge Robotics is a Hamilton-based drone startup developing drones for industrial work applications. Skygauge was co-founded in 2016 by CEO Nikita Iliushkin, Chief Designer and inventor Linar Ismagilov, and CTO Maksym Korol. The company’s vision is to create a workforce in the sky. READ MORE >>

in Editorial Posted by wpengine
Brantford industrial land

Panattoni buys 423 acres of Brantford industrial land for $290M

In a purchase that single-handedly surpasses many quarters of investment activity in the Hamilton region, Panattoni Development Co. Canada has acquired a 423-acre tract of Brantford industrial development land for $290 million.

The land is bisected by Oak Park Road and bordered on the north by Powerline Road and on the south by Highway 403. The vendor was James Dick Ltd., which acquired the land out of bankruptcy several years ago and shepherded it through the zoning process. READ MORE >>

in Editorial Posted by wpengine
Podcast: Is industrial real estate investment risky?

Podcast: Is industrial real estate investment risky?

Podcast: The Industrial Real Estate Show with Chad Griffiths

U.S.-based investor, broker and trainer Gary Wilson joins host Chad Griffiths to take a critical look at industrial real estate investing. Among their topics will be:

– why industrial real estate is risky;

– four main attributes of an industrial building; and

– characteristics of a successful industrial park. READ MORE >>

in Editorial Posted by wpengine
Dream Industrial REIT logo

Dream Industrial forms $1.5B Toronto, Golden Horseshoe JV

Dream Industrial Real Estate Investment Trust (DIR-UN-T) and Dream Unlimited Corp. (DRM-T) have formed a $1.5-billion develop-to-hold joint venture with a “leading global sovereign wealth fund” to buy development properties and build industrial facilities in the Greater Golden Horseshoe Area.

The strategy is to acquire $500 million worth of development sites and then build what the Dream partners call “high-quality, best-in-class industrial assets.” They will then continue to own the properties after stabilization. READ MORE >>

in Editorial Posted by wpengine

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