Inside the GTA... In and around the city in January 2021

The luxury condosof Royal Port are taking shape in historic Port Dalhousie, next to Lake Ontario, steps from Dalhousie Yacht Club and the Waterfront Walking Trail. Built by Rankin Construction Inc., a video of the project on the company’s website says the site is 80 per cent sold. Check out the remaining suites online. Occupancy is slated for 2021. royalport.ca

James Laird, co-founder of ratehub.ca and president of CanWise Financial mortgage brokerage, breaks down his 2021 mortgage and housing predictions.

1. BoC rate will stay put
   The Bank of Canada will leave the overnight lending rate unchanged for the entire year. The Bank will be patient in raising rates until pre-pandemic economic indicators are achieved.
2. There will be no new mortgage regulation introduced in 2021
   With focus being on the pandemic recovery, no new measures will be put in place to make it any harder for homebuyers to qualify for a mortgage.
3. Condos will still be tops for first-time buyers
   With home values surging, condominiums will likely be the first and possibly only option for priced-out first-time homebuyers.
4. Bond yields will be higher, fixed rates will follow
   Canadians can expect bond yields to rise, which will cause mortgage providers to modestly increase fixed rates.

Did you know?

As of Jan. 1, Ontario developers are required to provide purchasers of new or pre-construction residential condos with a copy of the new Residential Condominium Buyers’ Guide to help condo buyers make informed purchasing decisions. condoauthorityontario.ca

Line 5 project breaks ground

Reserve Properties and Westdale Properties marked the start of construction for Line 5 with a small ground breaking ceremony recently.

Located at Yonge and Eglinton, a rapidly developing transit node in the city, Line 5 is the first of several projects slated for the area by this development team.
“The impact of the new LRT will be transformational for Yonge and Eglinton. With rapid transit soon to be available in every direction, we see this area emerging as the new centre of Toronto,” says Shane Fenton, chief operating officer, Reserve Properties.

The two-tower project responds to how residents will live, work and connect, with the transformation of the Yonge-Eg area with LRT.

With $5.3 billion in capital investment and 19 km of rapid transit intersecting Toronto’s main subway artery, Yonge and Eglinton is emerging as one of the most connected and important mobility hubs in the country. line5condos.com

Thrive in Smithville West coming soon

Popped into Smithville in West Lincoln, Ont., where Marz Homes is building the community of Thrive in Smithville West.

Comprised of modern towns and singles surrounded by walkable amenities such as schools and shopping, the location is situated between Niagara Falls and Hamilton, just 20 minutes from the QEW.

Smithville has five schools, including four elementary and one secondary. Check out this unique family-friendly location at marzhomes.com.

The debut of Debut in Barrie

A new condo community is coming to 55 Dunlop St. in Barrie.

Priced from the high $400,000s, Debut Waterfront Residences is located in the heart of the city’s downtown and business sector, overlooking Lake Simcoe.

The new community includes twin 33-storey towers joined by a podium with a pedestrian mews at street level, featuring curated retail shops. Debut’s amenities include an infinity plunge pool overlooking Lake Simcoe, indoor boardroom, entertaining and dining spaces, and a terrace with outdoor dining, fire pit and amphitheatre.

Barrie is booming, and the provincial, federal and local governments are pouring significant infrastructure dollars into the city as they recognize it as one of the fastest growing cities in Canada.

Debut is the first highrise project to launch in Barrie. The developer, Gary Silverberg of Barrie Waterfront Developments, changed the zoning to allow highrise in the area with the launch of this new community.
debutcondos.com

I’m always looking for events and new happenings to explore. Send your tips to: susan.legge@nexthome.ca