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All these Toronto malls could be getting redeveloped

by Helena Sedlak· August 24, 2017· in Buying, Houses, People, Places· 0 comments tags: bully offers, buying real estate, condominium, downsizing, downtown, financial incentives, first-time buyers, land transfer tax, mortgage, new construction, new homes, places, preconstruction, selling, tax, toronto
A redevelopment deluge is hitting shopping mall properties across Toronto not only because of rising land values but also the threat online retailers are posing to bottom lines, an industry expert suggests. “I think that one of the big redevelopment waves right now are shopping centres,” Craig Patterson, founder and editor-in-chief of Retail Insider, an online trade publication, tells BuzzBuzzNews. “As real estate prices have gone up and developable land has become less available, I’m seeing shopping centre landlords looking at their shopping centre real estate as being prime land for intensification,” he adds. BuzzBuzzNews has identified eight Toronto shopping mall sites currently slated for such intensification, and that total doesn’t include properties in the nearby surrounding GTA, such as the Promenade Mall. SEE ALSO: Application for 7 mixed-use towers submitted to Vaughan for site beside Promenade Mall, north of Toronto Patterson says malls are a “gold mine” for redevelopment because of the GTA’s level of population growth as well as the fact that they are so often sitting on large, well-located sites to begin with. “Cadillac Fairview, Oxford, Ivanhoe Cambridge: these landlords are already getting in on the residential game — or they’re partnering with residential developers,” says Patterson. “A natural […]
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Taxes for first time home buyers

Important thing you should know about land transfer refund for first time buyers

by Helena Sedlak· February 17, 2017· in Buying· 0 comments tags: first-time buyers, land transfer tax, tax
If you have been holding back from buying your first home in Ontario because you feel you won’t be able to afford closing costs, you now can definitely enter the exiting world of homeownership. In a major relief to this growing segment of buyers in Ontario’s housing markets, first timers will not have to pay any land transfer tax on the first $368,000 of their home’s purchase price. It means that more than half of homebuyers won’t have to pay any LTT because starter homes fall within this price bracket in the majority of housing markets in Ontario. The Ontario government announced last year that they would double the first-time homebuyers’ maximum Land Transfer Tax refund to $4,000. The measure came into effect January 1. The amount of refund was $2,000 earlier. In Toronto, the land transfer tax rebate was $3725, but the council has announced that it would be increased to $4,475 on a recommendation from the City of Toronto’s Budget Committee. The increase will be in effect from March 1. What is land transfer tax? You pay land transfer tax when you buy land or an interest in land in Ontario. For a home worth up to $55,000, […]
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Helena Sedlak

Helena Sedlak

Sales Representative

Royal LePage Real Estate Services Ltd.,
Brokerage
3031 Bloor Street West,
Toronto, ON M8X 1C5
Telephone: 416-236-1871
Cell: 416-821-6964 | Send SMS
Fax: 416-239-5394
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Royal LePage Real Estate Services Ltd., Brokerage


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