Real estate prices have been in the headlines lately. Buying mania has reached our Innisfil neck of the woods over the last couple of years but I doubt foreign buyers are involved. Looking back over some figures, my property tax increased 73% in the last 16 years (an average of 3.7% per year); “market value” assessment increased by 133% (about 6.3% a year); but the current speculative market value of my property has increased about 500% (or more?) based on real estate agents’ estimates and recent home sales in the area. That’s about 10%/year compounded rate of appreciation.
We get approached about listing our home possibly once a week by mail or in person. I’m told that some real estate agents Continue reading →
A public meeting tomorrow in Barrie (council chambers, 7:00 pm) is further proof that Ontario’s Places to Grow strategy to limit urban sprawl is a failure – at least in Simcoe County. It also confirms that Barrie is a city without boundaries and an insatiable appetite for greenfields.
“The lands are designated Highway 400 Industrial/Business Park within the City’s Official Plan and are currently zoned Agriculture (AG) in accordance with Zoning Bylaw 054-04 (Innisfil). The owner has applied to amend the current zoning of the property to Highway 400 Industrial with Site Specific exceptions …” Continue reading →
A silo is all that remains of Stroud’s “last operating farm”. The farmhouse and agricultural buildings were demolished several years ago by a developer. The 5.2 hectare site is now the subject of a development proposal (Centreville by Daycore Venture Group Inc.) which consists of residential homes, commercial buildings and a gas station.
Residents were presented with a draft plan in December 2016. The first phase proposed 107 townhomes with communal septic. A second phase, contingent on provision of municipal services, would have added 86 more townhouses and a six story apartment/retail complex fronting on Yonge Street.
This proposal was heavily criticized, at the time, by local residents as inappropriate for their “quiet and peaceful” village. “We moved here for a rural urban feel”, said one. “You’re putting a city in a village. It’s just dumb. That’s the very reason a lot of people are getting out of Barrie and Alcona and into Stroud”, said another. Stroud consists mostly of single-family homes and has little growth because of the absence of municipal sewers. The developer’s proposal relies on sophisticated modular septic systems from BioNest based in Quebec. Continue reading →
Map from DIAM Developments Inc.website: radianceinnisfil.ca
Innisfil is attracting the attention of a developer that has previously completed building projects in Kleinburg , Mississauga, Oakville, and Toronto. DIAM Developments is advertising a new townhome development, Radiance, situated at the 7th Line west of Webster Blvd. in south Alcona.
The townhome project, set to launch “this spring”, will “range from three to five bedrooms and will boast spacious decks and rooftop terraces” according to online publicity. Prices are expected to be in the “mid-400s”.
DIAM Developments recently completed a mid-rise condominium project in Toronto, under the name, On the Danforth.
I’m just catching up to local news since being away from writing. At first glance, I’m impressed with the six story residential and commercial development being proposed for the 25th Sideroad and Innisfil Beach Road. It’s the first significant new construction that actually conforms to the Official Plan and the ‘Inspiring Innisfil’ urban design concept for Innisfil’s commercial core. It would add four or five new retail spaces to the street and add a mix of 55 living spaces (bachelor to 2 bedroom) to enliven the street. It might even inspire development, or redevelopment, of some other nearby commercial properties that need to be brought into the 21st century.
I have a hard time reconciling resident objections to the project since it has been clear for at least the last five years that Innisfil Beach Road will be developed as a retail area with zoning to allow street-front buildings up to six stories.
What I find more disappointing is Mayor Wauchope’s response as he tried to deflect responsibility to the county and provincial governments:
“The province is telling us this, the county is telling us this … we’re caught between a rock and a hard place.” Continue reading →
Maybe you saw the recent article, “Blame prices on growth plan, economist says” (Toronto Star, Oct. 14, 2016). Benjamin Tal, deputy chief economist at CIBC World Markets was quoted as saying, “Affordability and Places to Grow cannot coexist.”
I have to point out he was speaking at a meeting of the Building Industry & Land Development Association (BILD). This “leading Canadian economist” went on to say that development charges and slow municipal approvals are contributing to the affordability problem.
Neptis Foundation had already countered this overly simplified view with factual data on October 5 (Land supply not to blame for rising home prices: Study, Toronto Star). Continue reading →