Zoe Demarco

Toronto

Reporter at Green Street News

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Articles

Will Canada Really Need 5.8M New Homes By 2030?

Feb 20, 2024 | storeys.com | Zoe Demarco

Since it was proposed in 2022, the notion that Canada needs to build 5.8 million new homes by 2030 has been seen as the gold standard of housing targets, informing public policy, populating the headlines, and spurring discussions. But what if that number was wrong?
Declining Multi-Unit Construction Causes Housing Starts To Slip In January

Feb 15, 2024 | storeys.com | Zoe Demarco

The new year put a stop to the surprising surge in Canadian housing starts seen in December, a trend that is likely to persist in the near term. According to the latest data from the Canada Mortgage and Housing Corporation, the monthly seasonally adjusted annual rate (SAAR) of housing starts fell to 223,589 units in January, a 10% decline from December. Total urban starts dropped 11% on a monthly basis to 208,119 units.
What's Open And Closed In Toronto On Family Day

Feb 14, 2024 | storeys.com | Zoe Demarco

The first long weekend of the year is nearly here, and with it comes the return of winter. After some short-lived sun and warmth, Toronto is in for negative temperatures and a few flurries throughout Family Day Weekend. But don’t let that stop you from making the most of the long weekend. Although February 19 is a statutory holiday, many malls, stores, and attractions will still be open on Family Day, albeit with modified hours.
Real Estate Commission Lawsuit Expands Canada-Wide

Feb 13, 2024 | storeys.com | Zoe Demarco

A legal battle alleging price fixing in the real estate industry has been expanded to every Canadian province and territory. In January, a second class-action lawsuit was filed in federal court alleging that real estate brokerages across the country conspired to inflate buyer brokerage commissions paid by sellers, and that various regional real estate boards and the Canadian Real Estate Association (CREA) “aided, abetted, and counselled” the illegal agreement.
Ottawa Reaches $176M Housing Accelerator Fund Deal

Feb 12, 2024 | storeys.com | Zoe Demarco

Canada’s capital is the latest city to reach a Housing Accelerator Fund agreement with the federal government. Ottawa will receive $176.3M under the deal, which will help fast-track the creation of over 4,400 housing units over the next three years. Over the next decade, the funds will spur the construction of more than 41,500 homes.
Scarborough's Sprawling Master-Planned Community Moves Closer To Reality

Feb 11, 2024 | storeys.com | Zoe Demarco

A massive mixed-use, masterplanned community in Scarborough is one step closer to reality after developers and the City of Toronto came to an agreement this week. Republic Developments initially submitted a development application for Scarborough Junction in October 2020, but, following discussions with City staff, revised the project in June 2022.
28-Storey Tower Proposed For Major Corner In Church-Wellesly Village

Feb 7, 2024 | storeys.com | Zoe Demarco

The Church-Wellesley Village is home to an eclectic blend of architecture — rows of heritage homes meld into low-rise pre-war apartments, with the occasional modern façade sprinkled in. And soon, a new condo tower could be added to the mix, rising right above the very heart of the neighbourhood. A new development application has been submitted for a 28-storey, mixed-use tower at the northeast corner of Church Street and Wellesley Street East.
Majority Of Available Midtown Office Space Located In Bloor Node

Feb 6, 2024 | storeys.com | Zoe Demarco

What had been a challenging year for the Greater Toronto Area office market persisted into the final quarter of 2023, as large organizations continued to mull over their space needs. According to new data from Avison Young, the availability rate in the downtown core hit 18.1% in Q4, a 60 basis point (bps) increase from Q3 and an annual rise of 200 bps. At 13.1%, the downtown office vacancy rate edged up 60 bps on a quarterly basis, and increased 310 bps from the end of 2022.
Majority Of Ontario Municipalities Didn't Meet Their 2023 Housing Targets

Feb 5, 2024 | storeys.com | Zoe Demarco

The majority of Ontario municipalities did not meet their provincially imposed housing targets in 2023, and thus will not be receiving funding from the Ford government. As part of the Province’s goal of building 1.5 million homes by 2031, 50 large and fast-growing municipalities have been assigned housing targets, which range from 1,000 in North Bay and Sarnia, to 285,000 in Toronto.
A Game Changer: Recap Of The BUZZ Conference 2024

Feb 5, 2024 | storeys.com | Zoe Demarco

The who’s who of Canadian real estate descended on downtown Toronto yesterday for the industry’s premier convention. The BUZZ Conference ‘GAMECHANGER 2024’ took over the Liberty Grand Entertainment Complex for a day of inspiring presentations, motivational speeches, and unparalleled networking. From the future of proptech to perspectives on pre-con, industry leaders offered insights on the state of the market and what to expect as 2024 unfolds.