The Place: A modern, three-bedroom cottage, built with sustainability in mind.
The Property: This Summerhill rowhouse is a condo alternative, with 1,600 square feet of living space, including a finished basement. Summerhill subway station is just at the corner.
The Place: An unfurnished, three-bedroom unit for rent in Yorkville’s No. 10 Bellair Residences. In 2012, we featured a lower penthouse in the building.
—The approximate amount of money allegedly stolen from people who put pre-construction deposits on units in Centrium at North York, a condo and hotel complex that still hasn’t been built on its vacant lot near Yonge and Finch. The Star reports that Meerai Cho, a lawyer who was supposed to be holding the deposits in trust, has been charged with 25 counts each of fraud, possession of property obtained by crime and breach of trust.
Toronto is mired in an affordable-housing crisis. As of June, almost 170,000 people were waiting for a place in some form of subsidized housing. If that weren’t enough, the Toronto Community Housing Corporation’s repair backlog is now estimated at $914 million, and the amount of capital funding needed over the next decade has been pegged at $2.6 billion. In July, mayoral candidate Olivia Chow offered a solution she says will help bridge the widening housing gap: as mayor, she would ask developers to voluntarily set aside 20 percent of new residential tower developments for low-income renters, creating around 15,000 new, affordable units over four years. Chow says she would defer development charges on the affordable units for 10 years, or longer if the properties stay accessible to low-income renters (lest developers snap up the promised benefits and hike the rent), saving builders almost $12,000 per one-bedroom unit. Developers that improve existing tower sites would get different kinds of incentives too.
WOULD IT WORK?
In cities like Washington D.C. and San Francisco, there are what are known as “inclusionary zoning” rules—bylaws, often mandatory ones, that try to engineer roughly what Chow is proposing. In essence, inclusionary zoning tells developers to allocate a certain percentage of new residential units to moderate- or low-income people. In New York City, newly elected mayor Bill de Blasio is trying to implement mandatory inclusionary zoning.
The Property: The same-day sale of this two-storey, three-bedroom home was helped along by the property’s top-tier school district, which includes Rolph Road Elementary, Bessborough Elementary and Middle School, and Leaside High School (Margaret Atwood went there in the fifties). Another major draw was its location on Bessborough Drive, a Leaside street with cachet.
Address: 33 University Avenue, Penthouses 2801 and 2802
Neighbourhood: Bay Street Corridor
Agents: Christopher Invidiata and Shae Invidiata, The Invidiata Team Re/Max Aboutowne Realty Corp., Brokerage
The Place: A massive 28th-floor penthouse in Empire Plaza, a mixed-use building in the downtown core. Amenities include a concierge and a rooftop terrace.
The buyers: Peter Loewen, a 35-year-old political science professor at U of T, and Yvette Lam, a 35-year-old business development officer at Harbourfront Centre.
The story: After meeting at a David Myles concert and dating for two years, Lam and Loewen took a series of quick leaps forward. First, she rented out her Esplanade one-bedroom and moved into his Distillery condo. Four months later, he proposed while they were on vacation in France. Post-proposal, they started talking about having kids in the next year or two and, in preparation, they decided to trade up. The plan was to hold on to Lam’s condo for the rental income, sell Loewen’s place and search for a house. They set out with a firm $900,000 ceiling and a list of must-haves: an office where Loewen could write, a clean look to match their mid-century modern furniture, and a location within walking distance of good public schools and a subway.
—The fine levied on Carolyn Goodman and her company, Havcare Investments Inc., by the Human Rights Tribunal of Ontario. Goodman’s offence, according to the Star, was denying Thaila-Paige Dixon-Eeet a bachelor apartment at 500 Dawes Road, which has a reputation as one of the worst residential buildings in Toronto. The tribunal found that Havcare’s stated reason for turning Dixon-Eeet away (the fact that she was only 17 at the time) was a violation of the Ontario Human Rights Code and a source of “injury to her dignity, feelings and self-respect.”
Sale of the Week: the $1.4-million Yonge-St. Clair property that proves two houses are better than one
The Property: Don’t let the two separate addresses fool you: these two homes make up a single property, hidden on a laneway behind some of the Yonge-St. Clair area’s toniest homes. The two-storey, loft-style one-bedroom at 93A Balmoral measures in at 1,570 square feet, including the finished lower level. Facing it is 95A Balmoral, a one-bedroom bungalow with 655 square feet of living space. Both buildings have been extensively renovated inside and out.
The Place: A one-bedroom unit on the first floor of the Corktown District Lofts. It’s one of only ten two-storey “lofthouses” in the building. Amenities include a rooftop terrace, penthouse party room and fitness centre.