Wednesday, August 25, 2010

Move to suburbs can’t offset condo sales slump




Recent article in the Star, Tony Wong states:

the Greater Golden Horseshoe Growth Plan, which touts higher densification for the 905 region, combined with affordability issues and a greater acceptance of highrise living, have made condos desirable for many suburban buyers.
Is this actually occurring?

Of the cities mentioned in the article. Here are the year to date sales (YTD)

Markham 95 sales
Brampton 85 sales
Pickering - To small to be in its own category - Considered part of other areas which total 233 sales

Mississauga is not really that dense with 323 sales this year (explains why Christopher Hume sees the city as a lost opportunity)

So where is densification occurring

Toronto 3,483 sales or 53% of the market
North York 1,119 sales or 17% of the market
Etobicoke 622 sales or 10% of the market

Thanks to Blackjet Inc the rendering of the Toronto Skyline of the future

Friday, August 20, 2010

Trees and Real Estate Values





Urban forests makes cities more liveable in the following ways:

Came across a great website in that highlights the obvious benefits (shamelessly copied and pasted)


Environmental Benefits
  • Moderate temperature of road surface increasing their life span
  • Reduction of air pollutants
  • Urban Forests Protect Our Water
  • Urban Forests Can Increase Traffic Safety

Sociological Benefits
  • Trees have the potential to reduce social service budgets, decrease police calls for domestic violence, strengthen urban communities, and decrease the incidence of child abuse according to the study.
  • Residents who live near trees have significantly better relations with and stronger ties to their neighbors.
  • Researchers found fewer reports of physical violence in homes that had trees outside the buildings. Of the residents interviewed, 14% of residents living in barren conditions have threatened to use a knife or gun against their children versus 3% for the residents living in green conditions.
  • Studies have shown that hospital patients with a view of trees out their windows recover much faster and with fewer complications than similar patients without such views.
  • A Texas A&M study indicates that trees help create relaxation and well being.
  • A U.S. Department of Energy study reports that trees reduce noise pollution by acting as a buffer and absorbing 50% of urban noise.


Real Estate Benefits:

  • Trees can increase property values 5%-15% (Adding and maintaining trees - especially if Mature - are expensive. So a sustainable way must be found)

Environmental Vision for Toronto

  • Lake Ontario Park - One of the Largest Urban Parks in North America to be built in Toronto
  • Will Silva Cells help improve Toronto's urban forest? - Great article on seeing how Toronto is moving forward. Concepts that show trees on Bloor between Avenue and Church really looks great.
  • Money does grow on trees -The reasons for planting a canopy overshadow today’s trend toward tiny trees. 109,000 to 110,000 trees are planted a year in Toronto. Today the canopy covers 20 per cent of the city; the goal is 30 to 40 per cent coverage.

Thursday, August 19, 2010

Making Sugar Beach Lively - Just add Rum




Reading a great article in the Globe about Sugar Beach in Toronto.

The author, Mark Schatzker, raised a great point about allowing the serving of Rum (among other alcoholic beverages). Allowing rum will definitely make Sugar Beach a destination point.

Bringing in more people throughout the day and evenings for a drink or to be with friends who may want to drink but end up hanging out and enjoying the sites.

Bringing in people for different reasons adds diversity to the area, which makes an area more lively organically.

Like I've said in the past: a diverse city is a lively city, a lively city makes more people want to be there, more people demanding to be there increases real estate values.

So how would alcohol make Sugar Beach more lively?

Well for one, its not a beach, its just a spot to spend a few minutes watching the lake and then you get bored and leave. Schatzker, correctly point this out when he said:

"There’s a risk that Sugar Beach, which is small to begin with, will suffer the same fate as Yorkville Park – lauded by design types, but underappreciated by everyone else."

There is a huge problem with neglected spaces: it actually breeds crime. Think about it, if no one has a reason to be at Sugar Beach, there will be nobody around, and nobody around will make the area a great place to do a drug deal or hire a prostitute.

Wednesday, August 18, 2010

Toronto's 'Clubland' no longer booming




I know some Torontonians are upset with the club district changes.

As mentioned in a recent article in The Star, at the beginning of the decade Toronto's club district was one of the densest in the world. This density created resulted in the lack of diversity disease which is not good for a city.

Symptoms of lack of diversity disease in clubland:

  • Crime: drunkenness, fighting, heavy policing costs, familiar smell of urine in alleys, trash on people's homes and businesses
  • Inefficient use of land: thousands of party goers Thursday through Saturday nights, dead during the days. More diverse and lively areas have people spread out through the day
  • Area becomes a fad as people get tired of the "scene"

Solution: Diversity

How to spur diversity organically

  • Increase population density (adding condos was a good move)
  • Have a diversity of uses (adding jobs i.e. The Score, Hotels to bring tourists, restaurants/clubs, shopping, tourist attractions, theatres, concert halls etc - Bell Light Box)
  • Regulating so there is not too much of one thing. Shouldn't allow too many clubs or too many condos
  • Slow re-development to keep interesting spaces in older buildings that will have cheaper lease rates than what can be afforded in a brand new building.

More people want to be in a lively area and lively areas are diverse areas. Lively cities will always be a great tourist attractors and make real estate more valuable