Daily Archives: February 10, 2009

WHERE IN T.O. WILL THE NEXT CONDOS GO?

toronto-building-skyline

By Anna Betel

Ever wonder if there are plans in the works to turn that prime downtown parking lot into condos? Or if there are plans to do anything with those run down rowhouses?

In an effort to keep Torontonians informed, The City of Toronto has recently launched a new website aimed at answering that very question. The Development Application Status website allows the public to view detailed information on all of the city’s development projects dating back to January 1, 2006.

The lack of any photos or satellite maps might make it seem a little bland right now. But don’t worry. This is the first of 2 phases, with plans to launch an interactive, ‘dynamic’ map to help users search for current developments (launch date TBD).

Chief Planner Gary Wright says “the Development Application Status website is a service initiative that makes the planning process more accountable to the public through greater accessibility and transparency. This will be a useful tool for residents and the development industry.”

The new Development Application Status website is located at: http://www.toronto.ca/planning/developmentapplications.

Anna Betel is a Sales Representative with Royal LePage R.E.S./Johnston & Daniel Division.  Anna is a regular contributor to the Muddy York Real Estate Blog.  Anna’s website is located at www.annabetel.com

Muddy York Quick Tip: How Does a Real Estate Transaction Benefit the Canadian Economy

According to a Canadian Real Estate Association (CREA) study conducted by Altus Clayton, each residential MLS transaction generates an average of $32,200 in additional consumer spending.  These expenditures include such items as the purchase of furniture and appliances, moving costs, renovations, services and taxes (with Mayor David Miller still in office in Toronto, this number may be higher).  Real Estate transactions stimulate employment, spur consumer spending and have additional benefical impacts on the general economy – real estate is very good for the economic health of any city or region.

Source:  Altus Clayton Study for CREA. 2007