Why ‘Winona, Stoney Creek’ real estate is a good buy for 2024/2025: A Q&A with Sean Findlay of Century 21 Millennium Inc.

Stoney Creek is a hidden gem! A growing beautiful community that sits on the western edge of Hamilton and forms the gateway to Niagara’s tender fruit lands. Located just 45 minutes from Downtown Toronto, and 45 minutes from Niagara Falls, you can find the perfect balance of life in this well sought after neighborhood. Sean Findlay not only specializes in selling Stoney Creek real estate properties, he currently lives in this lovely community nestled between the Niagara escarpment and Lake Ontario. Here’s why he thinks Winona is the place to be in 2024 / 2025, and what you need to know about buying property here in this growing Winona, Stoney Creek real estate market.

What is the community like?

I moved to Winona, Stoney Creek because the school system was great. In the last seven or eight years, we’ve had three brand new schools built within one mile of each other in anticipation of the growth of Winona and Stoney Creek, and they all have a great reputation. Teachers look for areas like this to live and work in—you’re in the greenbelt, the gateway to wine country. Winona has one of the best conservation parks in the area—Fifty Point—and two marinas within miles of each other.

Who’s buying property in Winona, Stoney Creek?

I find a lot of professional couples and families are moving here from the city. People move here to escape the rat race. It feels safer, it’s slower-paced, and you can spend more time with your children & family. Kids have so many outside activities—you should see it when soccer starts up, it’s packed with kids socializing and riding bikes. Its a really good neighbourhood to raise a family.

What are Winona Stoney Creek’s biggest assets?

Definitely location. Winona, Stoney Creek is the gateway to everything. It’s a quick hop to the QEW, which takes you in every direction. You’re minutes from Burlington and an easy drive to Mississauga, Toronto and Niagara. There’s easy accessibility to the escarpment. We’re a hub, and that’s only going to get better with the new Costco has opened in 2019. Lets not forget about the new GoTrain that is expected to be expanded to Winona, Stoney Creek for 2024

How much does a home cost in Winona?

For resale, townhomes start in the $500,000 range and single detached-family homes start in the vicinity of $700,000 and up, especially if you want something newer. The market is hot. A subdivision will open and it’ll sell out overnight. My biggest recommendation is to register on the builder’s website so you’ll get the call first.

How would you rate the resale value of a home in Winona?

There is a great demand to live in Winona, Stoney Creek.  Geographically located right by Lake Ontario, makes this neighborhood a very desirable place to live and therefore has great resale value.

Where will you get the best deal for a home in Winona?

My top recommendation is to get on the list for a new development because you don’t have to compete with other buyers. When you’re buying a pre-construction single-family or townhouse, you’re paying what the builder has on the list. I find most of the first-time townhome buyers purchase new because they can’t handle being outbid all the time.

Top 10 Reasons Why ‘Winona, Stoney Creek’ Real Estate is a Good Buy for 2024 / 2025

In the rapidly evolving real estate market, finding the right place to invest is crucial. As we look towards 2024 and 2025, Winona in Stoney Creek is emerging as a top contender for homebuyers and investors alike. Nestled in the Niagara Peninsula, Winona offers a blend of suburban tranquility and urban convenience that makes it an attractive option for those looking to settle in or invest in Ontario. Here’s why Winona, Stoney Creek real estate is a smart buy for the coming years.

1. Affordability Compared to Nearby Markets

One of the biggest draws to Winona is its relative affordability compared to other parts of the Greater Toronto Area (GTA) and Hamilton. As real estate prices in Toronto and other nearby cities continue to soar, Winona presents a more accessible option without compromising on quality of life. Whether you’re a first-time homebuyer or an investor looking to maximize your returns, the lower price points in Winona make it an attractive option.

2. Growing Community and Development

Winona is part of a growing community within Stoney Creek, with continuous development and infrastructure improvements that are enhancing its appeal. The area has seen new residential developments, commercial spaces, and amenities that cater to a variety of lifestyles. As more people discover Winona, the demand for homes is expected to increase, driving up property values.

3. Proximity to Key Locations

Winona’s location is ideal for those who want to enjoy the perks of suburban living while staying connected to key urban centers. It’s conveniently located near the QEW, providing easy access to Hamilton, Niagara Falls, and Toronto. This makes it an excellent choice for commuters and those who want to enjoy the best of both worlds.

4. Family-Friendly Environment

For families, Winona offers an environment that is hard to beat. The area is known for its excellent schools, parks, and family-oriented activities. The proximity to nature, including Lake Ontario and the nearby Niagara Escarpment, provides ample opportunities for outdoor recreation. Additionally, Winona’s quiet streets and safe neighborhoods make it a great place to raise children.

5. Future Growth Potential

Real estate is not just about the present; it’s about future potential. Winona is poised for significant growth over the next few years. With ongoing development, increasing demand, and its strategic location, property values are likely to rise. Investing in Winona now means you could see substantial returns in the future, whether through property appreciation or rental income.

6. Rich Local Culture and Community

Winona boasts a rich local culture that is deeply rooted in the Niagara region’s history. The community is known for events like the annual Winona Peach Festival, which brings together residents and visitors for a celebration of local produce and crafts. This strong sense of community enhances the living experience and makes Winona not just a place to live, but a place to belong.

7. Investment Opportunities in Rental Properties

With its affordability, growing popularity, and proximity to educational institutions and employment hubs, Winona is becoming an increasingly popular choice for renters. This opens up opportunities for real estate investors to tap into the rental market. Whether you’re considering short-term rentals for tourists exploring the Niagara region or long-term leases, the rental demand in Winona is expected to grow.

8. Quality of Life

The quality of life in Winona is exceptional, making it a desirable place to live. Residents enjoy a slower pace of life compared to the bustling cities, with easy access to nature, local wineries, and the waterfront. The area’s peaceful ambiance, combined with its accessibility, makes it an ideal place for those looking to escape the city’s hustle while still being close to urban amenities.

9. Strong Community Planning and Infrastructure

Stoney Creek, including Winona, benefits from strong community planning and infrastructure development. The local government has been proactive in ensuring that the area’s growth is sustainable, with investments in roads, public services, and community facilities. This forward-thinking approach ensures that Winona will continue to thrive as a residential and investment destination.

10. Appealing to a Diverse Range of Buyers

Winona appeals to a diverse range of buyers, from young professionals and growing families to retirees and investors. The variety of housing options, from single-family homes to modern townhouses, means there is something for everyone. This diversity also contributes to a vibrant and dynamic community, where different age groups and backgrounds come together.

Conclusion

As we move into 2024 and 2025, Winona, Stoney Creek stands out as a promising location for real estate investment. With its affordability, growth potential, and high quality of life, Winona offers a compelling case for buyers looking to make a smart investment in Ontario’s real estate market. Whether you’re seeking a family home, an investment property, or a peaceful place to retire, Winona has something to offer. Now is the time to explore the opportunities that this hidden gem has to offer.

CLICK HERE TO VIEW CURRENT HOMES FOR SALE IN WINONA Stoney Creek

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In the wake of Federal Minister of Finance Chrystia Freeland’s unveiling of Canada’s 2023 Fall Economic Statement (FES), a paradigm shift emerges. Unlike the previous Spring 2023 budget, this statement stands out for its resolute inclusion of explicit spending measures tailored to combat the housing and affordability crisis gripping the nation.

The FES reflects the government’s commitment to addressing these issues by preparing to unveil a series of affordability policies. It’s a collaborative effort, working hand in hand with stakeholders to shape the upcoming year’s budget. This renewed focus underscores the Liberals’ dedication to core priorities like housing affordability and the overall cost of living while maintaining fiscal prudence.

A notable highlight in the statement is the allocation of an additional $15 billion in new low-interest financing, slated to commence in 2025–26. This funding, earmarked for the Apartment Construction Loan Program (formerly known as the Rental Construction Financing Initiative), aims to amass over $40 billion in loan funding, ultimately leading to the creation of more than 30,000 new homes across Canada.

Furthermore, a substantial allocation of $1 billion over three years, commencing in 2025–26, has been earmarked for the Affordable Housing Fund. This fund aims to bolster non-profit, co-op, and public housing providers in constructing over 7,000 new homes by 2028, a pivotal step towards addressing the pressing housing shortage.

Another noteworthy addition in the updated plan is the extension of HST removal eligibility to co-operative housing corporations engaged in long-term rental accommodation. These corporations, akin to new purpose-built rental housing projects, can now leverage this provision, provided they meet the prescribed conditions.

Canada’s 2023 Fall Economic Statement presents a strategic blueprint for addressing the critical challenges of housing affordability and cost of living. Stay informed as these measures unfold, aiming to reshape the real estate landscape and provide sustainable solutions for Canadians seeking affordable housing options.

Understanding the trajectory of these updates is vital as they shape the country’s real estate narrative, influencing decisions and paving the way for a more inclusive and accessible housing market for all Canadians.

Written by: Realtor Sean Findlay

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Economists expect the effects of inflation, like a higher cost of goods, to continue.² Luckily, an investment in real estate can ease some of the financial strain. 

Here’s what you need to know about inflation, how it impacts you, and how an investment in real estate can help.

WHAT IS INFLATION AND HOW DOES IT IMPACT ME?

Inflation is a decline in the value of money. When the rate of inflation rises, prices for goods and services go up. Therefore, a dollar buys you a little bit less with every passing day.

The consumer price index, or CPI, is a standard measure of inflation. Based on the latest CPI data, prices increased 7.5% from January 2021 to January 2022.¹ A little bit of inflation is considered healthy for the economy, but 7.5% in a single year is high. 

How does inflation affect your life? Here are a few of the negative impacts:

• Decreased Purchasing Power

We touched on this already, but as prices rise, your dollar won’t stretch as far as it used to. That means you’ll be able to purchase fewer goods and services with a limited budget.

• Increased Borrowing Costs

In an effort to curb inflation, the Federal Reserve is expected to raise the federal funds rate. Therefore, consumers are likely to pay a higher interest rate on new mortgages, car loans, and variable-rate credit cards.³

• Lower Standard of Living 

Wage growth tends to lag behind price increases. According to Moody Analytics, when adjusted for inflation, average weekly earnings in January were down 3.1% from a year earlier.⁴ As such, life is becoming less affordable for everyone. Inflation can force those on a fixed income, like retirees, to make lifestyle changes and prioritize essentials.

• Eroded Savings 

If you store all your savings in a bank account, inflation is even more damaging. As of February 2022, the national average interest rate for a savings account is 0.06%, not nearly enough to keep up with inflation. And economists don’t expect that rate to go much higher.³

One of the best ways to mitigate these effects is to find a place to invest your money other than the bank. Even though interest rates are expected to rise, they’re unlikely to get high enough to beat inflation. If you hoard cash, the value of your money will decrease every year and more rapidly in years with elevated inflation.

REAL ESTATE: A PROVEN HEDGE AGAINST INFLATION

So where is a good place to invest your money to protect (hedge) against the impacts of inflation? There are several investment vehicles that financial advisors traditionally recommend, including:

• Stocks

Some people invest in stocks as their primary inflation hedge. However, the stock market can become volatile during inflationary times, as we’ve seen in recent months.⁵

• Commodities

Commodities are tangible assets, like oil, livestock, and minerals. The theory is that the price of commodities should climb alongside inflation. But the classic choice–gold–hasn’t risen consistently during periods of inflation since the 1970s, according to data from Morningstar Direct.⁶

• Inflation-Indexed Bonds

Treasury inflation-protected securities, or TIPS, are U.S. government-issued bonds that are indexed to the inflation rate. Bonds are considered low risk, but the returns they offer are generally low, as well.⁷

• Real Estate

Real estate prices across the board tend to rise along with inflation and often rise faster than inflation.⁸ That’s one of the reasons demand for real estate is soaring right now.⁹

We believe real estate is the best hedge against inflation. Owning real estate does more than protect your wealth—it can actually make you money. For example, home prices rose nearly 17% from 2020 to 2021, 10% ahead of the 7% inflation that occurred in the same timeframe.¹⁰ 

Plus, certain types of real estate investments can help you generate a stream of passive income. In the past year, property owners didn’t just avoid the erosion of purchasing power caused by inflation; they got ahead. 

TYPES OF REAL ESTATE INVESTMENTS

Though there are myriad ways to invest in real estate, there are three basic investment types that we recommend for beginner and intermediate investors. Remember that we can help you determine which options are best for your financial goals and budget. 

• Primary Residence

If you own your home, you’re already ahead. The advantages of homeownership become even more apparent in inflationary times. As inflation raises prices throughout the economy, the value of your home is likely to go up concurrently. At the same time, you’ve locked in a set mortgage payment for the next 30 years, so you’ll be immune to rising rental costs.

If you don’t already own your primary residence, homeownership is a worthwhile goal to pursue.

Though the task of saving enough for a down payment may seem daunting, there are several strategies that can make homeownership easier to achieve. If you’re not sure how to get started with the home buying process, contact us. Our team can help you find the strategy and property that fits your needs and budget.

Whether you already own a primary residence or are still renting, now is a good time to also start thinking about an investment property. The types of investment properties you’ll buy as a solo investor generally fall into two categories: long-term rentals and short-term rentals. 

• Long-Term (Traditional) Rentals

A long-term or traditional rental is a dwelling that’s leased out for an extended period. An example of this is a single-family home where a tenant signs a one-year lease and brings all their own furniture.

Long-term rentals are a form of housing. For most tenants, the rental serves as their primary residence, which means it’s a necessary expense. This unique quality of long-term rentals can help to provide stable returns in uncertain times, especially when we have high inflation.

To invest in a long-term rental, you’ll need to budget for maintenance, repairs, property taxes, and insurance. You’ll also need to have a plan for managing the property. But a well-chosen investment property should pay for itself through rental income, and you’ll benefit from appreciation as the property rises in value.

We can help you find an ideal long-term rental property to suit your budget and investment goals. Reach out to talk about your needs and our local market opportunities.

• Short-Term (Vacation) Rentals

Short-term or vacation rentals function more like hotels in that they offer temporary accommodations. A short-term rental is defined as a residential dwelling that is rented for 30 days or less. The furniture and other amenities are provided by the property owner, and today many short-term rentals are listed on websites like Airbnb and Vrbo.

A short-term rental can potentially earn you a higher return than a long-term rental, but this comes at the cost of daily, hands-on management. With a short-term rental, you’re not just entering the real estate business; you’re entering the hospitality business, too. 

Done right, short-term rentals can be both a hedge against inflation and a profitable source of income. As a bonus, when the home isn’t being rented you have an affordable vacation spot for yourself and your family!

Contact us today if you’re interested in exploring options in either the long-term or short-term rental market. Mortgage rates are expected to rise, so you’ll want to act fast to maximize your investment return.

WE’RE INVESTED IN HELPING YOU

Inflation is a fact of life in the U.S. economy. Luckily, you can prepare for inflation with a carefully managed investment portfolio that includes real estate. Owning a primary residence or investing in a short-term or long-term rental will help you both mitigate the effects of inflation and grow your net worth, which makes it a strategic move in our current financial environment.

If you’re ready to invest in real estate to build wealth and protect yourself from rising inflation, contact us. Our team can help you find a primary residence or investment property that meets your financial goals. 

The above references an opinion and is for informational purposes only.  It is not intended to be financial advice. Consult the appropriate professionals for advice regarding your individual needs.

Sources:

1. Bloomberg –
   https://www.bloomberg.com/news/articles/2022-02-10/u-s-inflation-charges-higher-with-larger-than-forecast-gain
2. CNN –
   https://www.cnn.com/2022/01/01/economy/inflation-prices-2022-preview/index.html
3. CNBC –
   https://www.cnbc.com/2022/01/26/the-fed-sets-the-stage-for-a-rate-hike-heres-what-that-means-for-you.html
4. Reuters –
   https://www.reuters.com/business/us-consumer-prices-rise-strongly-january-weekly-jobless-claims-fall-2022-02-10/
5. NBC News –
   https://www.nbcnews.com/business/markets/market-slide-dow-falls-700-points-sp-enters-correction-territory-rcna13304
6. CNBC –
   https://www.cnbc.com/2021/12/20/gold-is-losing-its-status-as-an-inflation-hedge-two-traders-warn.html
7. Morningstar –
   https://www.morningstar.com/articles/1079158/why-are-inflation-protected-bond-funds-losing-money
8. The Washington Post –
   https://www.washingtonpost.com/business/2022/01/04/heres-how-inflation-could-affect-your-next-real-estate-move/
9. Bloomberg –
   https://www.bloomberg.com/news/articles/2022-01-24/is-real-estate-a-good-investment-hedge-against-inflation-what-the-experts-say
10. CNN –
    https://www.cnn.com/2022/01/20/homes/us-nar-home-sales-december-and-2021/index.html

The post Hedge Against Inflation With These 3 Real Estate Investment Types appeared first on FINDLAY REAL ESTATE.

Prime Toronto Rental Location Available! This Outstanding Custom Built Luxury Executive Basement Apartment in the heart of Toronto!

Welcome to the Parklawn Community, Toronto!

Executive Luxury Basement Apartment In Quiet Prestigious Park Lawn Community. Spacious 1 Bedroom Basement Apartment Unit with High 9Ft Ceilings! Spacious Large Bedrm, Stainless Steel Appliances, Gas Stove, Dishwasher, Hardwood Laminate Floor, 4Pc Washroom (including bathtub), In-Suite Laundry (Washer/Dryer), Extra Storage Space. Open Concept Kitchen/Dining Space. Spacious Living Rm. Private Entrance. Street Parking Available. Steps To Ttc & Close To Highway, Restaurants. 10 Min From Downtown.

**** EXTRAS ****

• All Utilities Included In Rent (Hydro, Water, Heat). Internet Included.
• Parking Available.
• Access To Backyard & Bbq Included.

Occupancy: Available March 15th, 2022

AAA Qualified Tenants Only, Required Rentals Documents Include:

• Equifax Credit Report
• Recent Job Letter
• 2 Recent Pay Stubs
• Valid Gov ID

LISTING INFORMATION – 43 Waniska Ave (Lower), Toronto

Rental Price: $1595/Month (Including Utilities + Highspeed Internet)

STATUS: Active Listing

SQUARE FOOTAGE: Approx 1000-1300 sqr/ft

A/C: Central Air
HEATING TYPE: Forced Air / Gas
ROOMS: 4
BEDROOMS: 1
BATHROOMS: 1
KITCHENS: 1

Laundry: Ensuite Washer & Dryer included.

EXTERIOR: Brick Front, Board & Batter.
PARKING TYPE: Street Parking Available

BASEMENT: Full/Finished
MUNICIPALITY: Toronto
COMMUNITY: Parklawn

FEATURES

– Stainless Steel Appliances, including built-in dishwasher
– 9′ Ft High Ceilings
– Laminate Hardwood Floors
– Upgraded Gas Stove
– In-Unit Laundry (Washer & Dryer)
– All Utilities Included (Hydro, Water, Heat, A/C)
– High-Speed Internet Included
– Custom kitchen drawers
– Nearby Schools
– Nearby Parks & Lake
– Nearby to Highway and Public Transportation (TTC & GoTrain)

For more information or to book a viewing with one of our experienced Toronto Real Estate Agents;

Contact: Info @ FindlayRealEstate.ca or Call Sean Findlay at 905-450-8300

The article is now complete | Click To Return Findlay Real Estate Home Page 

Sean Findlay – Professional Realtor | Sales Representative | Digital Marketing Realtor
Proudly Serving Toronto & GTA | Mississauga, Brampton, Oakville, Burlington, Stoney Creek,  Hamilton, Grimsby, Niagara Falls, St Catherines

CENTURY 21 Millennium Inc., Brokerage *
Office Phone Number: 1-888-450-8301 | Fax: 905-450-6736

Toronto Office Located: 181 Queen St E,  Brampton, ON L6W 2B3 (by Appointment Only)

Stoney Creek Office Located: 280 Barton St, Stoney Creek, ON L8E 2K6 (by Appointment Only)

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2022 has kicked off with most economists and analysts in the U.S. and Canada commenting on record-high inflation levels. As a result, it would seem clearer than ever that both the Federal Reserve and Bank of Canada will begin to raise interest rates sooner rather than later. Experts are predicting that the BOC will see rates spike as early as the end of January.

Here’s what you need to stay in-the-know, whether you are a buyer, seller, or investor…

Surging COVID-19 cases fuelled by the Omicron variant have forced many economists to reconsider their predictions for the Canadian economy in 2022, but it’s not the only shock that could throw a wrench into forecasts.

Canada’s housing market has been flying high for a long time and 2021 saw the market heat up further. Data on Thursday showed prices and sales broke records last year in Toronto and Vancouver, the country’s two most expensive markets. The average price of a house in Toronto, Ontario climbed to $1,095,475, a 17.8 percent jump from the previous record set in 2020. 

Capital Economics believes rising mortgage rates will cool home price inflation this year. But there’s a scenario where investors expect prices to keep climbing no matter what, adding fuel to the Canadian Housing Market — and the economy — as home buyers use the equity in an existing property to purchase more. That spells trouble down the line.

While both house price inflation and Canada’s GDP growth would be stronger than we assume in this scenario, we would become extremely concerned about the risk of a house price bust in later years.

It is expected that the Bank of Canada will be hiking the interest rates three times to 1.00 percent by the end of the year.

If you ever have any questions or need any advice, don’t hesitate to contact Realtor Sean Findlay at 905-450-8300

Sean Findlay – Professional Realtor | Sales Representative | Digital Marketing Specialist

– Proudly Specializing in Toronto, Stoney Creek, Hamilton & GTA Real Estate –

Toronto, Mississauga, Brampton, Milton, Oakville, Burlington, Stoney Creek, Grimsby, Hamilton, Niagara Falls.

CENTURY 21 Millennium Inc., Brokerage *
Office: 905-450-8300 or Toll Free: 1-888-450-8301 | Fax: 905-450-6736

Toronto Office Located: 181 Queen St E Brampton, ON L6W 2B3 (by Appointment Only)

Stoney Creek Office Located: 280 Barton St, Stoney Creek, ON L8E 2K6 (by Appointment Only)

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Need To Declutter Your Home? Yard Sales Return To Hamilton & Stoney Creek!

Thinking of selling your house? Need to declutter your home? What better way to get rid of old items through a yard sale! Province of Ontario Announces Yard Sales Can Return to select Canadian Cities, and guess what? Hamilton & Stoney Creek are on the approved list of cities allowed to now host yard sales. (Standard covid social distancing rules still apply)

Just a few days ago, Hamilton public health gave the green light for yard sales, and today, a street in Stoney Creek had their first spring cleaning garage sale in over a year. Emily Tayler of CHCH Hamilton news reports.

The first weekend of yard sales brought “Hundreds of shoppers to a Stoney Creek yard sale looking for someone else’s unwanted treasure”

CHCH Hamilton News | By Dominick Nagy  – June 5, 2021

Have any questions about Hamilton / Stoney Creek Real Estate? Looking to buy or sell your house? Contact Realtor Sean Findlay Today!

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City council has approved the Downtown Hamilton Entertainment Precinct master agreement, a multi-year deal between the city and the Hamilton Urban Precinct Entertainment Group L.P.

The group’s bid to renovate and revitalize several venues, including FirstOntario Centre, was selected by council in 2020.

Hamilton’s city council gave formal approval for a partnership with the Hamilton Urban Precinct Entertainment Group (HUPEG) which is set to spend more than $500 million on a mixed-use development, including an affordable housing project and a $50-million restoration of First Ontario Centre.

The bid proposed a $50 million renovation to revitalize FirstOntario Centre, including a new exterior facade and video board, transformation of the lower bowl and an expanded concourse level.

It also includes over $12 million in upgrades to the Hamilton Convention Centre and Concert Hall and a $2 million contribution to the Art Gallery of Hamilton.

City Council has approved the Downtown Entertainment Precinct master agreement that sets the stage for millions of dollars in investment in Hamilton’s downtown core, including a $50 million renovation of the FirstOntario Centre.

Release>>https://t.co/zd4mI9xS6T #HamOnt pic.twitter.com/u0pa6vkPEY

— City of Hamilton (@cityofhamilton) June 9, 2021

HUPEG is a consortium of local investors that includes Carmen’s Group, the LIUNA Pension Fund, Fengate Capital, Meridian Credit Union, Jetport Inc. and Paletta International.

The group was selected in July 2020 as the preferred redeveloper of FirstOntario Centre, the Hamilton Convention Centre and FirstOntario Concert Hall.

Under the new agreement, the groups will also take on operation and maintenance of the three settings for at least 30 years with options to continue to the 49-year mark with no monetary contribution from the city.

Initially, the plan called for total investments of more than $400 million within the city core which also included a development with the Art Gallery of Hamilton.

The new deal calls for at least $12.5 million in capital upgrades, expansion and aesthetic enhancements to the convention centre and concert hall, with a $2-million contribution to the gallery.

The arena development includes a new exterior façade and video board, comprehensive transformation of the lower bowl, expanded concourse level and a new flexible curtaining system for the upper bowl balcony.

Hamilton Urban Precinct Entertainment Group L.P.A sports lounge, e-Gaming zone, and additional food and beverage offerings are expected as well with the aid of local hospitality partners.

The project will include retail and office space in addition to new residential units allocating five per cent affordable housing – in keeping with current municipal bylaws HUPEG will be required to meet.

Ray Kessler, manager of real estate for Hamilton, says the overall deal is an “economic” exchange of the three properties in which a series of liabilities will be taken on by HUPEG.

“That’s where they (the city) will get their return, of course … in the future development or redevelopment of the properties,” said Kessler.

“The city in exchange gets properties that don’t have any financial implications to the city … we’re hoping for 49 years at minimum.”

A 2019 study by Ernst and Young estimated that privatizing the operation and maintenance of the entertainment venues would save Hamilton taxpayers $155 million over 30 years.

One example would be the York Boulevard parkade which Ryan McHugh, manager of tourism and events with the city, said had a “sizeable” backlog in capital needs.

“So by transacting that site, the city would actually be saving additional money on that front,” McHugh said.

An artist rendering of a new concourse at First Ontario Centre in Hamilton. City Council has approved a 49-year agreement with an entertainment group to create an entertainment hub in the downtown core.Mayor Fred Eisenberger said parking sites were “not a massive revenue picture on a per-site basis” and the new developments would generate additional tax dollars down the road.

“Council supported this because it had a revenue-positive scenario for the city of Hamilton or at least avoided cost-revenue scenario, as well as additional development opportunities that would generate more revenue into the future,” Eisenberger said.

The other bidder in the development was the Vrancor Group — which proposed a $200-million modernization of FirstOntario Centre and the Hamilton Convention Centre completed in just 12 to 14 months.

Mayor Fred Eisenberger said the execs with that group were supportive of the HUPEG plan despite losing out.

“It was determined that the HUPEG proposal was was better overall for taxpayers and for the facility upgrades,” Eisenberger said.

“They’re very comfortable with that, and they look forward to future developments there as they’re doing now in the city of Hamilton, in the downtown core precinct.”

Construction is expected to begin in the fall of 2022 and take place over two years.

The Precinct Group will work with current tenants and operator to minimize any operational impacts of the renovations.

Any questions about Hamilton Real Estate? Contact us today!

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The federal government of Canada has launched a new Home Energy Savings Grant program that offers homeowners grants to retrofit their homes and make them more energy efficient. The Canada Greener Home Grants program, funded to the tune of $2.6 billion, will offer homeowners grants of up to $5,000 that can be put toward energy-saving projects such as:

• Improved insulation;
• Air sealing, thermostats;
• Energy efficient heating and cooling equipment;
• Solar panels; and
• Energy-efficient windows and doors.

Additional Grant For Home Energy Audit

The home energy savings grant program will also include grants of up to $600 that can be used for EnerGuide home energy audits. The Canada Greener Home Grants program is expected to award 700,000 grants over seven years.

Home Grant Eligibility Criteria

There are certain eligibility criteria that must be met in order for the homeowner to take advantage of the grants, including but not limited to:

• Provide proof of ownership;
• Program applies to a homeowner’s primary residence only;
• Eligible property types include ground-related homes and small multi-unit residential buildings up to 3 storeys);
• Applies to homes built six months ago or older;
• Complete a pre- and post-retrofit EnerGuide evaluation;
• Complete at least one retrofit that is both eligible and recommended by the energy advisor in order to be reimbursed.

How To Apply for Canada Home Energy Savings Grant

Applications are now available on the Natural Resources Canada website. An application starts with an energy evaluation by a certified adviser. That adviser visits an applicant’s home and determines which energy-saving measures would qualify for reimbursement. If the homeowner chooses to proceed, a licensed contractor would then be hired to conduct the retrofits. After an inspection of the completed work, the homeowner would be reimbursed.

Please check for additional information on program eligibility and to learn more about the initiative.

Employment Opportunity as a New Energy Auditor

To support the anticipated need for energy advisors, the government recently announced that it is providing up to $10 million to recruit, train and mentor 2,000 new energy auditors.

The Canada Greener Homes Grant program, the hiring of 2,000 new energy advisers, and the yet-to-be-launched $40,000 retrofit loan program through CMHC are all part of a bigger greener homes initiatives that is expected to be announced soon in 2021.

Additional Homeowners Interest-free Loans

In this year’s federal budget, the government proposed creating a separate fund of $4.4 billion over seven years through which the Canada Mortgage and Housing Corporation (CMHC) could offer homeowners interest-free loans of up to $40,000 in exchange for authorized energy-efficient retrofit projects. These loans could be available as soon as this summer, and it is believed that more than 200,000 households would take part in that program.

We will update Members as soon as more details become available, and encourage you to familiarize yourself with the Canada Home Grant program so that you can advise your clients accordingly about this opportunity.

For any Questions / Inquiries Contact Realtor Sean Findlay using the form below:

The post Government of Canada Launches New Home Energy Savings Grant Program appeared first on FINDLAY REAL ESTATE.

The Ontario government released its Roadmap to Reopen, a three-step plan to safely and cautiously reopen the province and gradually lift public health measures based on the provincewide vaccination rate and improvements in key public health and health care indicators.

The province of Ontario will remain in each step for at least 21 days to evaluate any impacts on key public health and health system indicators. Based on current trends in key health indicators, including the provincial vaccination rate, the province expects to enter Step One of the Roadmap the week of June 14, 2021.

The Ontario province-wide emergency brake restrictions remain in effect with the Stay-at-Home order expiring on June 2, 2021.

How does this impact REALTORS^®?

For now, Members should continue to follow all public health guidance, use virtual business tools first, refrain from in-person open houses and only conduct scheduled showings when absolutely necessary.

With respect to tenant eviction orders, the government has indicated that the moratorium is tied directly to the Stay-at-Home order and that is expected to be lifted June 3, 2021; however, it is not clear at this point whether or not the province will lift the ban on residential evictions at the same time.

Real estate remains an essential business; therefore, real estate transactions can continue, provided that all public health measures and safety protocols are followed.

Key highlights in each step of the Ontario 3 Step Roadmap to Reopen are outlined in the chart below:

In response to recent public health improvements, effective May 22, 2021, at 12:01 a.m., the province will reopen outdoor recreational amenities with restrictions in place. These amenities include, but are not limited to, golf courses and driving ranges, soccer and other sports fields, tennis and basketball courts, and skate parks. No outdoor sports or recreational classes are permitted. Outdoor limits for social gatherings and organized public events will be expanded to five people, which will allow these amenities to be used for up to five people, including with members of different households. All other public health and workplace safety measures under the provincewide emergency brake will remain in effect.

Ontario has scrapped the idea of lifting restrictions by region, as was prescribed under the previous colour-coded reopening framework. Instead, the entire province will be evaluated as a group based on overall vaccination rates as well as improvements in key public health and health system indicators.

The province will remain in each of the three steps “for at least 21 days to evaluate any impacts.” If, at the end of each 21 day period, vaccination thresholds and other criteria have been met, we will move forward as a group into the next step.

Here’s what we can expect from each step, and what we need to do to get there, per the provincial government:

Step One:  60 per cent of adults vaccinated with one dose

“An initial focus on resuming outdoor activities with smaller crowds where the risk of transmission is lower, and permitting retail with restrictions. This includes allowing outdoor gatherings of up to 10 people, outdoor dining with up to four people per table and nonessential retail at 15 per cent capacity.

Step Two: 70 per cent of adults vaccinated with one dose and 20 per cent vaccinated with two

“Further expanding outdoor activities and resuming limited indoor services with small numbers of people where face coverings are worn. This includes outdoor gatherings of up to 25 people, outdoor sports and leagues, personal care services where face coverings can be worn and with capacity limits, as well as indoor religious services, rites or ceremony gatherings at 15 per cent capacity.”

Step Three: 70 to 80 per cent of adults vaccinated with one dose and 25 per cent vaccinated with two doses

“Expanding access to indoor settings, with restrictions, including where there are larger numbers of people and where face coverings can’t always be worn. This includes indoor sports and recreational fitness; indoor dining, museums, art galleries and libraries, and casinos and bingo halls, with capacity limits.”

As of today, Thursday, May 20, per the Ministry of Health’s most-recent data, approximately 48.2 per cent of all Ontario residents (children and adults) have now been vaccinated.

For more on what you need to know about the pandemic, visit the TRREB COVID-19 Information Centre.

The post Doug Ford announces new 3 step Ontario COVID reopening plan appeared first on FINDLAY REAL ESTATE.