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Reality rains on Mississauga's LRT celebration
Toronto Star
It was a party with everything but the champagne inside Mississauga council chambers Wednesday, as councillors and Mayor Bonnie Crombie gushed over their $1.6 billion transit windfall from the province. But after the back-slapping and grandiose proclamations about the recent "transformative" announcement by Queen's Park that the province would fund 100 per cent of the Hurontario LRT, the scale of the project quickly sunk in.
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Sherway Gardens joins other GTA malls in dash toward luxury
Yonge Street Media
Five new retailers opening in Etobicoke's Sherway Gardens shopping mall signal the early stages of the mall's multi-phased, $550 million expansion. "Preppy-bohemian luxe" U.S. designer Tory Burch is first out of the gate. Cosmetics maker LUSH, shoe designer Vince Camuto, jewelry and watch retailer Thomas Sabo and Canadian fashion label Rudsak are also making their Etobicoke debuts. Some of the stores will be located in the existing property while others will be in the most completed parts of the redevelopment.
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GTA office market vacancy 'poised to climb'
BOMI Canada
Despite the Greater Toronto Area (GTA) office market ending 2014 on a healthy note, results from Avison Young's Q1 report on the market show 2015 hasn't started out as well. The GTA office market, particularly downtown Toronto, is expected to face challenges with steady, new development and looming back-fill space. As a result, a vacancy below 10 per cent is poised to increase due to various factors.
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Province's plan to expand GO service will increase trips through Mississauga and Brampton
The Ontario government announced a major expansion plan for GO Train services across all lines over the next 10 years in a statement released Friday. Part of the Moving Ontario Forward initiative, the plan includes a large increase in service through both Mississauga and Brampton running in and out of Union Station to Milton and Kitchener, respectively. "The government is expanding access to transit and building the necessary infrastructure for now and for the future. People using the Kitchener GO corridor will benefit from more train trips and future two-way, all-day service," said Steven Del Duca, Minister of Transportation.
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TCHC denied lower mortgage rates by Crown Corporation
The Toronto Community Housing Corporation is asking its main mortgage lender, the Canada Mortgage and Housing Corporation (CMHC), to renegotiate antiquated interest rates, most of which are in the double digits. But the beleaguered social housing agency is not getting the relief it wants. The request is part of the TCHC's effort to raise $2.6 billion over the next 10 years to repair Toronto's crumbling social-housing infrastructure. More than half of the 2,200 buildings are more than 50 years old and are at the end of their useful life cycle.
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Canada housing frenzy defies central bank's soft landing
At the central bank in Ottawa, officials are forecasting a soft landing for the housing market. On the ground in Canada, brokers and homebuyers see prices that keep going up. Re/Max, the country's largest residential real estate realtor, raised its forecast for home price growth to 3 per cent from 2.5 per cent on Friday because transactions and values were so high in the first three months of this year. In March, housing sales rallied 4.1 per cent, the most in 10 months.
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Canadian home prices inflated by more than 25 per cent
The Globe and Mail
A fresh look at global house prices underscores the Bank of Canada's angst over the Vancouver and Toronto markets. The magazine, which tracks prices in 26 markets, warned in its most recent report that homes are more than 25 per cent overvalued in seven of those regions, "notably in Australia, Britain and Canada," rising on every measure.
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Downtown rising: Hamilton reducing development breaks
The Hamilton Spectator
It's yet another sign the city believes in downtown. To spur activity, builders in the core have enjoyed a 90 per cent break from development charges since 2012. In July, that exemption will drop to 85 per cent. The city's plan is to keep whittling down the fee break until developers pay 30 per cent (and the city picks up 70 per cent) in 2018-19. Market prices have risen downtown, making it easier for developers to get a fair return, says Glen Norton, the city's director of urban renewal.
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Cities 'learn' their lesson on development
No doubt universities and colleges have huge demographic and cultural impacts in the communities where they are located. However, a more difficult element to quantify is if that impact is the result of planning or organic integration. Mississauga is home to two post-secondary satellite campuses, Sheridan College's Hazel McCallion Campus (HMC) and The University of Toronto's Mississauga campus (UTM). Both schools have undergone or are in the midst of major upgrades. The explosion of new construction is helping turn Mississauga into an education hub.

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BMO: Condo living will be the new normal in Ontario
The already expansive price gap between condos and detached housing in the Greater Toronto Area (GTA) will continue to expand towards the end of the decade as new detached development is squeezed against the walls of the protected Greenbelt and overwhelmed by mature millennials looking for backyards. That's according to a new study from the Bank of Montreal examining how changing supply and demand dynamics will shape housing in the GTA.

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Mississauga hikes MiWay fares
Toronto Star
It will cost more to ride Mississauga's MiWay buses starting April 27 when a fare increase kicks in on most rates except those that apply to high school students and children between 6 and 12. The hike means cash fare riders will pay $3.50. Adult ticket and Presto users will spend only 10 cents more, however. The monthly adult pass increases $5 to $125. Seniors will also see a 5-cent increase on tickets and a $5 increase on the monthly pass, which will go up to $57.

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No housing bubble burst in GTA
Newstalk 1010
Realtor group Re/Max says home prices soared in Toronto and Vancouver in the first quarter with some of the effects spilling over into nearby regions. In the Greater Toronto Area, the average residential sale price grew eight per cent from a year ago to $594,827. Gurinder Sandhu, executive vice-president at Re/Max Ontario Atlantic, says a growing number of Canadians who work in pricey Toronto and Vancouver are buying homes in nearby areas where they can get more for their money.
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Real estate regulator aims to crack down on dubious practices (The Globe and Mail)
Mississauga's Square One mall getting a multi-million dollar makeover (Metro News)

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