July 13, 2024


These 7 Major Home Renovations Add Value

Whether you're preparing for a move or simply looking to update your home, remodeling can be a huge undertaking—so it's important to know whether the reward will be worth the effort. Knowing which renovations will yield the highest return for your money is key, so that when it comes time to sell, you can demand a higher price. Ultimately, you'll want to make the best home improvements to add value to your home. Before you decide on a remodel project, evaluate its cost versus its value, and decide if the renovation you want to do is a worthy investment of your time and money. So what renovations offer the biggest impact on a home's value? Six Better Homes & Gardens Real Estate experts weigh in on which projects are actually worth taking on. Here are the best home renovations for potentially raising the resale value of your home.

Helen Norman

1. Create an Addition

As your family grows, why shouldn't your home? Consider building an addition to add major value to your home and increase square footage. Maximize your investment by selecting the perfect materials and details to enhance your home's value and character. "Any kind of physical expansion—whether it's a new bedroom, an extension of a living room, or whatever space you desire—has a huge impact," says Joe Rand, managing partner and general counsel at Better Homes & Gardens Rand Realty. "If you can add square footage to a house, you always add value. Size matters!"

Emily Followill

2. Redo Your Kitchen

The kitchen is the hub of the home, so functionality is a top priority. Remodeling a kitchen can be exciting and satisfying, especially when it's designed to meet your needs and desires. According to the National Association of the Remodeling Industry's 2019 remodeling impact report, Realtors estimate that homeowners can recover up to 52% of the cost of a kitchen upgrade upon selling the home.

"Updating the kitchen with new appliances and bathrooms with new plumbing fixtures may seem trivial, but it's a must," says Brad Carlton, sales associate at Better Homes & Gardens Real Estate Metro Brokers. "Currently, there are many kitchen features that are trending in the Atlanta area, such as wine refrigerators, drawer-style microwaves and dishwashers, commercial-style ranges, and hidden outlets."

Annie Schlecther

3. Renovate a Bathroom

An updated bathroom is a major selling point for any home. When renovating, incorporate sleek surfaces for a sparkling space that makes cleaning a cinch. According to the same report by the National Association of the Remodeling Industry, Realtors estimate that homeowners can recover up to 57% of the cost of a bathroom renovation if they sell their home.

"If a home has only one bathroom or at most a one and a half bathroom, adding a shower to a half bath, or adding a half bath to a living area for guests immediately improves the appraised value of a home," says Jody Steinberg, Realtor, LaVista Hills Team, Better Homes & Gardens Real Estate Metro Brokers.

Helen Norman

4. Update Your Home’s HVAC

Your home's heating, ventilation, and air conditioning (HVAC) are the components that keep everything operating. These are some of the most critical items to maintain. In addition, Realtors estimate that homeowners can recover 85% of the cost of a HVAC replacement if they sell their home.

"Buyers are often taken aback when, upon inspection, a home's heater, air conditioner, and roof are found to be old or in poor shape," says Derek Whitner, Realtor, Team Whitner, Better Homes & Gardens Real Estate Metro Brokers. "Studies have shown that millennials are unwilling to overlook old mechanicals, even if the seller is offering a home warranty as a way to compensate for the age of these systems."

Keller and Keller Photography Inc

5. Amplify Outdoor Living Space

Nothing beats the option of entertaining outdoors. An outdoor living space will make your home a relaxing destination for get-togethers and add major value. No matter your budget, there are plenty of ways to update your backyard, porch, or patio.

"Tap the outdoors for extra living space," says Mary Hutchison, senior sales executive, Better Homes & Gardens Real Estate Kansas City Homes. "In the old days, just about everyone had a front porch or screened-in area to shade themselves from the Midwestern heat, and these classic features are still in demand. A screened-in porch or backyard patio—especially one that includes an outdoor kitchen with a built-in grill and small fridge—makes a wonderful additional entertaining area."

Michael Garland

6. Make Your Home More Accessible

Home renovations should be made with universal design principles in mind. That means creating a space for people of all ages, sizes, and physical abilities. Take careful inventory early in the planning process of all intended users' capabilities, preferences, and tastes.

"If it is possible to make your home more accessible, your home will be more welcoming to guests, more marketable to the largest audience, and best of all, you will be able to age in place," says Steinberg. "Do this by widening doorways, changing a main-level tub to a shower, clearing a path to a stepless entrance, or by adding a door to the back or side of your house."

7. Update Your Light Fixtures

Lighting is one of the simplest renovations that will add value to your home. You'll be amazed by how well-placed pools of warm light can make your home inviting and user-friendly. Consider the design, as well as function, when choosing the right light fixtures for your rooms.

"Updated styles of interior and exterior light fixtures are readily available at big box stores and online retailers for a bit of pocket change," says Robin Wolfram, Realtor/designer at Better Homes & Gardens Real Estate All Seasons-Rochester. "It can provide the big wow factor many homes would otherwise lack. If shopping online, be sure to look for any 'open box' pricing: an undamaged item that was returned simply because someone changed their mind."

Design underway at 100 North Major constructing

MEMPHIS, Tenn. — For the initial time since its groundbreaking ceremony last November, it appears design is underway at 100 North Major Making.

Cranes went up on Wednesday, marking the start out of very long-awaited renovations to Memphis’ tallest setting up.

The city bought the property in 2021 with a plan to give it a $261 million makeover.

The hope is at the time the renovations are completed the 37-tale skyscraper will develop into a blended-use group showcasing a hotel, flats, workplace and retail house.

“It serves as a symbol to builders, our neighborhood, and throughout the state that Memphis is a terrific position to invest your time, talent, and your sources,” mentioned previous Mayor Jim Strickland.

When the building was created approximately 60 years in the past, it served as a outstanding downtown business office tower.

Nonetheless, with the lessen in desire for office space, tenants commenced to shift out, which at some point left the building desolate right until it was finally condemned by the county in 2015.

“We want to see this structure preserved, we want to see some action going on on this part of downtown,” Mayor Paul Younger explained in November. “It’s this kind of a critical place along Key Avenue … There have been proprietors that have had proposals to redevelop the making on the other hand we weren’t viewing plenty of motion, so DMC [Downtown Memphis Commission] in partnership with the town of Memphis would operate to receive the setting up which was finished before this year.”

Enhancement associates say their system is to have the building open for company in January of 2027.

“We hope we continue to be on routine and on time. And a key piece of the Memphis skyline is staying given a new lease on life,” developer Billy Orgel reported in November.

After it is opened, it has by now secured a lease with a superior-profile tenant.

“I’m joyful to share that I’ve signed a 15-12 months lease for the City of Memphis govt to occupy 60,000 sq. ft of office environment house in this developing,” mentioned Strickland in November.

House pro Andrew Winter’s major renovation guidelines

Eager to spruce up your residence this 12 months? You are not the only one particular, with new investigation locating all over 50 % of house owners are scheduling to do renovations or make home advancements in 2024.

Andrew Wintertime, actual estate skilled and host of Promoting Properties and Really like It or Record It Australia has witnessed his fair share of house makeovers. Regardless of whether you are hunting to renovate your household for sale, or you’re just eager for a change, here are his major tips and the traps to stay away from.

Andrew Winter, property expert on home renovation tips.Andrew Winter, property expert on home renovation tips.

Andrew Wintertime is the new house skilled for Assess the Industry, who located 52 for every cent of homeowners had been arranging a renovation this year. (Resource: Assess the Sector)

Do you have a tale to share? Make contact with [email protected]

1. Increase ‘tangible value’ to your home

If you are renovating with the intention to provide your residence in the close to potential, Wintertime reported it was significant to make certain the renovations in fact added “tangible value”.

“The key ones are just about anything that requires adding rooms,” Wintertime instructed Yahoo Finance. “That’s not generally the circumstance of owning to extend. Some men and women transform a garage into a home but then you shed the garage. So, as extensive as you have a driveway or the potential to set up a carport or a framework to compensate for that loss.

An additional choice could be to make an added room out of a massive open up-plan living space, which may well not be as sensible for your working day-to-working day lifetime.

“If you have a significant plenty of area, you can produce rooms inside of rooms and I have witnessed that function really productively,” Winter stated. “You can literally portion a space off and out of the blue you’ve gained a study or a relatives room. That can be a real price add and it is no more than the value of walling and flooring.”


2. Feel about your style and design selections

If you are hoping to offer in the in close proximity to future, Winter also advisable currently being aware of the design decisions you built for your house.

“I’d dislike for people today not to pick style possibilities they like mainly because it is their house,” he explained. “But bear in brain that, if you assume you are likely to promote it in the near long run, if you go for nearly anything really distinct or really offbeat or controversial, make certain you do that in something that is changeable.

“So, not in lavatory tiles but it's possible a characteristic wall below or there, or kitchen cabinetry - some of the doors could be a robust colour that you really enjoy, which is fine.”

Winter season reported you could let your unique flavor shine by means of in locations like materials, wall colors and flooring - items that could simply be removed or transformed.

“Even with faucet wear, there are plenty of different selections,” Wintertime advised Yahoo Finance. “It was only a little although ago that all people desired rose gold, and that lasted about a week.”

3. Do it yourself what you can

If you’re seeking for means to lower down prices, Winter season suggests undertaking what you can yourself - or enlisting the aid of a buddy or spouse and children member - to conserve on labour prices.

“Electrical fittings, fuel fittings, plumbing troubles or something like that definitely demands to be performed by a registered experienced,” Winter claimed.

“[But] if you are owning your bathroom accomplished, stripping out your rest room completely ready for the contractors will help save you numerous days’ worth of labour.

“Likewise, any portray or tiling or sourcing of making supplies you can do. There is nothing stopping you likely and sourcing on-line and examining the stores out and receiving [everything] prepared to go.”

4. Never overlook about concealed charges

When location your price range, really do not ignore about the concealed expenditures - like council approvals, legal costs and insurance policies.

“Often, for basic renovations, they are only a number of hundred,” Winter season said. “But if you start getting into progress programs and building approvals, then you can get started to get into the countless numbers and it can suddenly be a bit of a unpleasant surprise.”

You can ring your nearby council to see how a great deal approvals would established you back again.

Adhere to Yahoo Finance on Fb, LinkedIn, Instagram and Twitter, and subscribe to our cost-free everyday publication.

Yahoo Australia

19 major projects in Metro Vancouver completing construction in 2024

As 2024 unfolds, nine major projects in Metro Vancouver will start their activity on construction work.

On the flip side, some of the most significant projects under construction in Metro Vancouver, including major projects that began construction before the pandemic, will reach completion in 2024.

This will be a banner year for construction completions — everything from some of Metro Vancouver’s largest mixed-use developments to new civic buildings, and from a new additional SkyTrain station to a new major regional bridge crossing.

In no particular order of importance, here are 19 notable developments and infrastructure projects that will reach completion sometime in 2024.

This is no ordinary ski run lift; the new gondola currently being built at Grouse Mountain will critically provide a new additional ingress and egress link between the base level’s parking lot and the mountaintop.

The new gondola will complement the existing Red Skyride, which is regularly used, and replace the older Blue Skyride, which is only occasionally used and set for decommissioning.

A total of 13 towers will support the new gondola’s ascent up the mountain to reach the peak terminal station, which will be located immediately east of the chalet. The base station will be immediately west of the Red Skyride’s base station. The new gondola will have 27 cabins, each with a capacity for eight passengers.

Work is well underway on building the base and peak terminal stations, and the towers and cable line installation will take place this spring and summer.

Construction first began in 2022, and work is scheduled to greatly accelerate throughout the year, with the system reaching testing by Fall 2024 for an opening next winter. The project’s cost was previously stated at $35 million, making it one of Grouse Mountain’s most expensive capital investments in decades.

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December 2023 construction progress on the base terminal of the new gondola for Grouse Mountain. (Canadian Concrete Pumper)

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December 2023 construction progress on the base terminal of the new gondola for Grouse Mountain. (HD ReadyMix)

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Elevation of the new gondola. (Grouse Mountain)

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Future configuration of Grouse Mountain’s base area and parking lots. (Grouse Mountain)

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New plateau plan for Grouse Mountain, showing the location of the new peak terminal for the gondola immediately east of the chateau. (Grouse Mountain)

In late summer 2023, Tower II of Gilmore Place — a major mixed-use residential, office, and retail development that wraps around SkyTrain Gilmore Station in Burnaby’s Brentwood Town Centre district — became Metro Vancouver’s new tallest building during its construction ascent, effectively dethroning downtown Vancouver’s Living Shangri-La tower.

In 2024, the first phase of Onni Group’s Gilmore Place project will reach completion, including nearly 1,600 homes within three towers, as well as major commercial uses within the base podium levels — about 80,000 sq ft of office space and 272,000 sq ft of retail/restaurant uses, which is comparable to the first retail phase of the nearby The Amazing Brentwood Mall. The substantial retail/restaurant uses will activate a new linear plaza and walking route below the SkyTrain guideway.

The tenants for the new retail/restaurant spaces have yet to be formally announced. Although the first phase will reach completion this year, it will take some time for businesses to furnish their commercial units to their specifications.

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Construction progress on the first phase of Gilmore Place, as of October 5, 2023. (Kenneth Chan/Daily Hive)

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Construction progress on the first phase of Gilmore Place, as of October 5, 2023. (Kenneth Chan/Daily Hive)

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Artistic rendering of Gilmore Place integrated with SkyTrain Gilmore Station. (Onni Group)

Gilmore Place Onni Group

Artistic rendering of the first phase of Gilmore Place. (Onni Group)

Over the last few years, the disruptive construction process for Capstan Station has tested the patience of SkyTrain Canada Line users in Richmond.

But that is coming to an end, with this new additional station now scheduled to reach completion and open in early 2024 after construction delays. The project cost is $52 million, with the City of Richmond covering $32 million — raised from development fees — and TransLink providing $20 million.

Capstan Station is located roughly midway between Bridgeport Station and Aberdeen Station — specifically at the northeast corner of the intersection of No. 3 Road and Capstan Way. It serves Capstan Village’s emerging high-density residential neighbourhood, with about 16,000 residents living within a 10-minute walk from the station upon the area’s full buildout.

Capstan Station features greatly improved designs and features compared to the original Canada Line stations, including more space for passenger circulation and both up and down escalators.

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July 2023 construction progress on Capstan Station on SkyTrain Canada Line. (Kenneth Chan/Daily Hive)

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Artistic rendering of Capstan Station on SkyTrain Canada Line. (Office of McFarlane Biggar Architects & Designers/TransLink)

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Artistic rendering of Capstan Station. (Office of McFarlane Biggar Architects & Designers/TransLink)

Landmark on Robson, replacing the previous Empire Landmark Hotel, will finally reach completion in 2024.

The entire 1400 block of Robson Street has been a construction zone since March 2018, when demolition first began on the 394 ft tall, 42-storey hotel tower with an observation deck. The hotel closed in September 2017.

The demolition of the 1973-built hotel tower, which featured a restaurant observation attraction on its top floor, was the tallest building demolition in Vancouver’s history. Asia Standard Americas is nearing the final lap of its construction progress on a mixed-use development with two towers containing 240 condominium homes, 84 social housing units, some office space, and significant ground-level retail/restaurant uses.

The new retail/restaurant uses will fill a major gap on the Robson Street retail strip, effectively activating the street and strengthening the retail strip with a seamless continuity of storefronts along the length of the entire city block.

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Construction progress on Landmark on Robson, as of September 2023. (Kenneth Chan/Daily Hive)

landmark on robson vancouver

Artistic rendering of Landmark on Robson. (PDP London/Musson Cattell Mackey Partnership/Asia Standard International Group)

Visual progress on building the new replacement Pattullo Bridge across the Fraser River between New Westminster and Surrey is about to greatly accelerate. The segments of the bridge deck over the river will be raised and installed after the tower supporting the suspension cables reaches completion in early 2024.

The BC Ministry of Transportation and Infrastructure anticipates the bridge will open in late 2024, at which point the existing 1937-built bridge will be closed and demolished. The entire project carries a $1.4 billion budget.

The new seismic-safe crossing will have four wider vehicle lanes — two vehicle lanes in each direction divided by a concrete barrier — along with interchange improvements, a new direct off-ramp from the bridge’s southbound direction to Highway 17’s (South Fraser Perimeter Road) westbound direction, and walking and cycling pathways, which are protected by a suicide-prevention barrier.

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November 2023 construction progress on the new Pattullo Bridge. (Government of BC)

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September 2023 construction progress on the new Pattullo Bridge deck above Highway 17 (South Fraser Perimeter Road). (Government of BC)

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Artistic rendering of the new Pattullo Bridge. (Fraser Crossing Partners)

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Artistic rendering of the new Pattullo Bridge. (Government of BC)

In late 2024, Quadreal Property Group and Westbank will open the brand new Oakridge Park shopping mall — the redevelopment of Oakridge Centre in Vancouver.

The majority of the non-residential uses will reach completion by the end of the year, including 1.2 million sq ft of retail/restaurant uses, which is double the size of the previous mall, as well as most of the nine-acre public park on the rooftop of the indoor mall, and a new major City-owned community centre, which contains a mix of spaces such as a 21,600 sq ft Vancouver Public Library branch.

The landlord has yet to make a formal announcement on the broad collection of retail tenants at Oakridge Park, but what is already known is there will be a new 42,000 sq ft grocery store replacing the previous Safeway, and a new 141,000 sq ft, two-storey Hudson’s Bay department store. It will take some time for businesses to furnish their commercial units to their interior design specifications.

Additionally, in lieu of a traditional food court, it was announced in 2022 that the internationally renowned Time Out Market food hall chain will open Time Out Market Vancouver at Oakridge Park in late 2024. With 69,000 sq ft over two levels, it will be the world’s largest Time Out Market location.

The opening of the massive new shopping centre is expected to make ripples in Metro Vancouver’s retail landscape. Oakridge Centre fully closed in 2020 to enable an expedited construction process.

The development also includes a new additional entrance into SkyTrain Oakridge-41st Avenue Station through a new underground retail-lined corridor between the indoor mall and the station’s ticketing concourse.

As for Oakridge Park’s towers, there will be over 3,300 homes for over 6,000 residents — a mix of strata condominiums, secured purpose-built rental housing, and social housing — and 800,000 sq ft of office space. These residential and office uses will reach completion between 2024 and 2028. Oakridge Park’s tallest tower will be a 52-storey tower with 100% rental housing uses, and it will be the tallest building within Vancouver outside of downtown.

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September 2023 construction progress on Oakridge Park. (Wesbridge Steelworks)

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November 2023 construction progress on Oakridge Park. (Kenneth Chan/Daily Hive)

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November 2023 construction progress on Oakridge Park. (Kenneth Chan/Daily Hive)

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2022 artistic rendering of the revised design of the Oakridge Park (Oakridge Centre) redevelopment. (Henriquez Partners Architects/Westbank/Quadreal Property Group)

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Previous conceptual artistic rendering of the new indoor mall at Oakridge Park. (Revery Architecture/Westbank/Quadreal Property Group)

Metro Vancouver is at the start of a new building boom of civic-spearheaded community and recreational centres, with many of these upcoming projects located within Burnaby.

In early 2024, after experiencing major construction delays, the Rosemary Brown Arena complex will reach full completion and open in South Burnaby. It is located immediately adjacent to Byrne Creek Community Secondary School and the new Southgate City residential neighbourhood.

It features two NHL-sized ice rinks, with each rink featuring about 200 spectator seats. The City of Burnaby allocated a budget of $50 million for the project, which was originally scheduled for a Summer 2022 opening.

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October 2023 construction progress on Rosemary Brown Arena. (City of Burnaby)

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October 2023 construction progress on Rosemary Brown Arena. (City of Burnaby)

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October 2023 construction progress on Rosemary Brown Arena. (City of Burnaby)

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October 2023 construction progress on Rosemary Brown Arena. (City of Burnaby)

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October 2023 construction progress on Rosemary Brown Arena. (City of Burnaby)

As a replacement facility for Canada Games Pool and Centennial Community Centre, the City of New Westminster will open təməsew̓txʷ Aquatic and Community Centre in Spring 2024, after experiencing some construction delays.

This includes a 50-metre lap, eight-lane competition pool, two diving platforms up to five metres high, a 25-metre leisure pool with a lazy river, a fitness gym, two gymnasiums, and various multi-purpose fitness rooms, as well as multi-purpose activity rooms and a childcare facility.

Construction first began in Spring 2021. The project is budgeted at $107 million.

New Westminster təməsew̓txʷ Aquatic and Community Centre construction december 2023

December 2023 construction progress on təməsew̓txʷ Aquatic and Community Centre. (City of New Westminster)

New Westminster təməsew̓txʷ Aquatic and Community Centre construction december 2023

December 2023 construction progress on təməsew̓txʷ Aquatic and Community Centre. (City of New Westminster)

New Westminster təməsew̓txʷ Aquatic and Community Centre construction december 2023

December 2023 construction progress on təməsew̓txʷ Aquatic and Community Centre. (City of New Westminster)

New Westminster təməsew̓txʷ Aquatic and Community Centre construction december 2023

December 2023 construction progress on təməsew̓txʷ Aquatic and Community Centre. (City of New Westminster)

The Granville Bridge Connector is scheduled to reach completion by Fall 2024 at a cost of $19 million. Two vehicle lanes on the west side of the bridge have been removed to accommodate dedicated wide pedestrian and cyclist pathways, which are separated from vehicles by a concrete barrier.

On-bridge traffic signals will also be installed for where the pedestrian and cyclist pathways cross over the Howe Street on-ramp and the Fir Street on-ramp. At the southern end of the bridge, a direct connection will be established with the Arbutus Greenway’s pathways.

This is intended to be the interim design of the active transportation connector, as a potential future project will install permanent materials and other features.

Current work on removing the bridge’s north loops and building a new replacement street network on the downtown side is also expected to reach completion in late 2024.

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Construction progress on the Granville Bridge Connector with the installation of the new permanent concrete barriers protecting the pedestrian and cyclist pathways, as of November 11, 2023. (Kenneth Chan/Daily Hive)

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Construction progress on the Granville Bridge Connector with the installation of the new permanent concrete barriers protecting the pedestrian and cyclist pathways, as of November 11, 2023. (Kenneth Chan/Daily Hive)

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Artistic rendering of the complete final design of the Granville Connector’s pedestrian and cyclist pathways on the Granville Bridge. (City of Vancouver)

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Existing configuration of the Granville Bridge (top) and the Granville Connector’s configuration changes for Granville Bridge to accommodate pedestrian and cyclist pathways (bottom). (City of Vancouver)

The PNE’s new ThunderVolt launch roller coaster for Playland is scheduled to reach completion and open in Summer 2024. This is a flagship ride for the attraction and represents the amusement park’s first step towards its redevelopment and expansion into a theme park. It is being built at a cost of $16 million, which includes extensive theming and landscaped areas.

It uses new state-of-the-art linear synchronous motor (LSM) technology. The future ride is already earning some international attention.

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Construction progress on Playland’s new launch coaster, as of October 31, 2023. (Kenneth Chan/Daily Hive)

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November 2023 construction progress on Playland’s new ThunderVolt launch coaster. (PNE)

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Artistic rendering of the new ThunderVolt launch roller coaster at Playland. (PNE)

The full completion of the B6 office tower in early 2024 represents the conclusion of downtown Vancouver’s current office building boom cycle, which first began before the pandemic.

BentallGreenOak has built a 403-ft-tall, 33-storey office tower with 562,000 sq ft of premium AAA-class office space. Microsoft will occupy approximately 400,000 sq ft across about 20 floors. Much of the remaining space was set to be occupied by WeWork, but that has since been cancelled.

According to Graham Construction, B6 features the largest sloped roof in North America at that height.

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June 2023 construction progress on the B6 office tower. (Graham Construction)

1090 West Pender Street Vancouver

2019 artistic rendering of 1090 West Pender Street, Vancouver. (Musson Cattell Mackey Partnership/BentallGreenOak)

1090 West Pender Street Vancouver

2019 artistic rendering of 1090 West Pender Street, Vancouver. (Musson Cattell Mackey Partnership/BentallGreenOak)

Later in 2024, Electronic Arts will reach completion on 300,000 sq ft of additional space across two new office buildings at its sprawling Burnaby campus. The new buildings will accommodate up to 600 employees, with other tech tenants joining EA. Construction first began in late 2021.

In early 2023, project contractor Turner Construction indicated it is looking to add childcare, retail, food service, amenity spaces, a swimming pool, and tech-related educational partnership programs — all in support of EA.

Ever since the project was approved, EA’s office space needs have decreased, and there is a desire to add amenities and services that support employees. In 2021, EA also took over the former MEC headquarters office building in Vancouver.

EA Electronic Arts 3700 Gilmore Way Burnaby

Artistic rendering of the EA Burnaby campus expansion at 3700 Gilmore Way, Burnaby. (DIALOG/Electronic Arts)

EA Electronic Arts 3700 Gilmore Way Burnaby

Artistic rendering of the EA Burnaby campus expansion at 3700 Gilmore Way, Burnaby. (DIALOG/Electronic Arts)

Quadreal Property Group’s The Post redevelopment of the former Canada Post building in downtown Vancouver reached substantial completion in 2023, but the innards are still a work in progress.

Amazon will reach completion and full occupancy on furnishing the office interior of its South Tower by early 2024, at which point the company will then shift its attention towards furnishing the North Tower.

This is the single largest office building in downtown Vancouver, with 1.1 million sq ft of office space leased entirely to Amazon to provide space for up to 6,000 office employees. Amazon has a policy requiring office workers to come into their workspace most of the week.

In February 2024, the 45,000 sq ft flagship Loblaws City Market grocery store will open at The Post, becoming the first major commercial retail tenant to do so. This will be followed by the opening of other prominent retail/restaurant businesses as the year progresses, providing the Central Business District with a new major node of activity. This includes the opening of The Post’s major publicly accessible retail atrium on the Homer Street side of the building.

With 185,000 sq ft of retail/restaurant space, The Post provides downtown Vancouver with its largest net gain of retail/restaurant uses in more than two decades.

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Construction progress on Loblaws City Market at The Post, as of December 14, 2023. (Kenneth Chan/Daily Hive)

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Construction progress on Loblaws City Market at The Post, as of December 14, 2023. (Kenneth Chan/Daily Hive)

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Construction progress on the retail atrium at The Post, as of December 14, 2023. (Kenneth Chan/Daily Hive)

Westbank’s The Butterfly Tower became the new third tallest building in Vancouver in 2023 during its construction ascent. The tower is expected to reach full completion later in 2024.

The visually striking tower in downtown Vancouver is designed by Revery Architecture and is one of the last projects influenced by the late Bing Thom. It contains about 330 upscale condominium homes and boasts a high degree of amenities, such as a 50-metre length swimming pool in a glass-enclosed space.

As part of the project, there is also a six-storey building with 61 social housing units, and a heritage restoration and expansion of the 1911-built First Baptist Church.

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Construction progress on The Butterfly tower in downtown Vancouver, as of July 3, 2023. (Kenneth Chan/Daily Hive)

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Fall 2023 construction progress on The Butterfly’s swimming pool (left) and an artistic rendering of the final product (right). (Westbank)

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April 2023 renovation progress on the heritage First Baptist Church as part of The Butterfly tower construction project. (First Baptist Church)

The Museum of Anthropology at the University of British Columbia (UBC) is scheduled to reopen to the public in June 2024.

Since late 2021, there has been major construction to rebuild the museum’s iconic Great Hall, which has been completely demolished for a new seismic-safe design that carries the same appearance as Arthur Erickson’s original landmark design. The 1976-built museum has been temporarily closed since January 2023 to accelerate the pace of the redevelopment and other building improvements. This rebuild carries a budget of $30.5 million.

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Before (top) and after (bottom) in the seismic redevelopment of the Museum of Anthropology at UBC. (UBC)

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UBC’s Museum of Anthropology’s new replica taking shape; construction progress as of August 12, 2023. (Kenneth Chan/Daily Hive)

By the end of 2024, the UBC Student Recreation Centre North will reach completion and open for student use.

This is a significant four-storey fitness and recreation building located at the western end of Student Union Boulevard, and immediately north of the Life Building (former Student Union Building).

There will be 101,000 sq ft of uses, including cardio and weightlifting areas, an indoor run/roll/walk track, three gymnasium courts, and multi-purpose rooms. The project carries a $67.5 million cost.

UBC pursued this project as there is a major shortage of such on-campus facilities; UBC has some of Canada’s lowest ratios of recreation space for a major university campus when compared to its student enrollment. This new facility complements the adjacent 1995-built Student Recreation Centre located just to the east, and it will be integrated with the 8,000 sq ft fitness gym in the basement of the Life Building.

ubc student recreation centre north construction august 2023

September 2023 construction progress on the new UBC Student Recreation Centre North. (Kenneth Chan/Daily Hive)

ubc student recreation centre north construction august 2023

2023 revised artistic rendering of the new UBC Student Recreation Centre North. (SHAPE Architecture/UBC)

ubc student recreation centre north construction august 2023

2023 revised artistic rendering of the new UBC Student Recreation Centre North. (SHAPE Architecture/UBC)

ubc student recreation centre north construction august 2023

2023 revised artistic rendering of the new UBC Student Recreation Centre North. (SHAPE Architecture/UBC)

ubc student recreation centre north construction august 2023

2023 revised artistic rendering of the new UBC Student Recreation Centre North. (SHAPE Architecture/UBC)

ubc student recreation centre north construction august 2023

2023 revised artistic rendering of the new UBC Student Recreation Centre North. (SHAPE Architecture/UBC)

Built on the footprint of the Brock Hall Annex, the third building of the UBC Brock Commons student residence is unique for both its size and range of mixed uses. It will reach completion by Summer 2024.

This 13-storey building, called “Brock Commons South,” contains roughly 90,000 sq ft of non-residential uses in its lower levels, entailing classrooms, academic, and office spaces for the Faculty of Arts, gathering and socializing spaces for students, two childcare facilities, food outlets, student services, and the new offices of the UBC vice president of students. Within the upper levels, there will be much-needed student housing — a total of 282 student housing beds.

The 2017-built, 18-storey Tallwood House with 404 student housing beds was the first building of Brock Commons and the tallest mass timber building in the world at the time of its completion. In Summer 2023, Brock Commons’ second building, called “Brock Commons North,” reached completion with 316 student housing beds. The 2023/2024-built buildings carry a combined cost of $165 million.

brock commons north south ubc august 12 2023

UBC’s Brock Commons North (right) and Brock Commons South (left), as of August 12, 2023. (Kenneth Chan/Daily Hive)

brock commons north south ubc august 12 2023

UBC Brock Commons South, as of August 12, 2023. (Kenneth Chan/Daily Hive)

UBC Brock Commons Phase II

Artistic rendering of UBC Brock Commons Phase II. (HCMA Architecture + Design)

UBC Brock Commons Phase II

Layout of UBC Brock Commons’ South Building. (HCMA Architecture + Design)

As the name of the building suggests, the Gateway Building will be located at the highly prominent northwest corner of the intersection of University Boulevard and Wesbrook Mall — on the former footprint of the administration building, just east of War Memorial Gymnasium and south of the diesel bus loop.

This will consolidate and expand the teaching, research, and administrative spaces of UBC’s Faculty of Applied Science’s School of Nursing, Faculty of Education’s School of Kinesiology, the campus’ new Integrated Student Health Services, and some of the operations of UBC health.

The six-storey, 267,000 sq ft building will be built out of mass timber. With a budget of $190 million, this is one of UBC’s single most expensive building construction projects to date. Construction began in late 2022, and it is expected to reach completion by late 2024.

ubc gateway building august 2023

August 2023 construction progress on the UBC Gateway Building. (Kenneth Chan/Daily Hive)

ubc gateway building

2022 revised artistic rendering of the UBC Gateway Building. (Perkins&Will/UBC)

ubc gateway building

2022 revised artistic rendering of the UBC Gateway Building. (Perkins&Will/UBC)

ubc gateway building

2022 revised artistic rendering of the UBC Gateway Building. (Perkins&Will/UBC)

ubc gateway building

2022 revised artistic rendering of the UBC Gateway Building. (Perkins&Will/UBC)

As a partnership between UBC’s Faculty of Medicine and Faculty of Applied Science, the new School of Biomedical Engineering Building will reach completion in late 2024, with occupancy scheduled to begin in early 2025.

The five-storey, state-of-the-art research and innovation building is being built on the former footprint of the D.H. Copp Building on University Boulevard, immediately south of the trolley bus loop. This 156,000 sq ft is a hub for combining engineering with medical sciences to design new high-tech solutions for healthcare. The construction cost is pegged at $139 million. Construction first began in Summer 2022.

UBC School of Biomedical Engineering Building August 2023

August 2023 construction progress on the UBC School of Biomedical Engineering Building. (Kenneth Chan/Daily Hive)

UBC School of Biomedical Engineering Building 1

Revised 2022 artistic rendering of the UBC School of Biomedical Engineering Building. (Patkau Architects/UBC)

UBC School of Biomedical Engineering Building 1

Revised 2022 artistic rendering of the UBC School of Biomedical Engineering Building. (Patkau Architects/UBC)

UBC School of Biomedical Engineering Building 1

Revised 2022 artistic rendering of the UBC School of Biomedical Engineering Building. (Patkau Architects/UBC)

Here’s another major sign Toronto’s real estate market is in big trouble right now

There are a handful of trends that show how badly Toronto's housing market is flopping right now, and the latest may be the most concerning of all.

As noted by local mortgage expert Jason Geall on his well-followed TikTok account covering the market, more and more owners are defaulting on their mortgages, leading to an increase in cases of power of sale.

"Is this going to be the new norm? Seeing 'power of sale' on top of for sale signs?" Geall asked in a video Monday, standing in front of a property in the bougie York Mills area of Toronto.

In the background, viewers can see an example of the phenomenon he's talking about, in this case, for a vacant plot of land that lenders have seized to sell and get their money back.

The property on Bayview Ridge Crescent is currently listed for $3.15 million, advertised as the perfect, building permit-ready opportunity for someone's dream castle — except that virtually everyone is balking at the current market with its high interest rates and instability.

"We've been hearing so much about power of sales going up and up in the last little while — is this the start?" he adds, referring to a graph showing, per data from the Toronto Regional Real Estate Board, that residential power of sale listings in the GTA broke new records in October.

"Seeing this type of stuff even in the high end areas is definitely kind of concerning."

This is just one example of things extremely atypical of our perpetually (and still) overpriced market: major developments put on hold, sales slowing to a trickle and buyers walking away from hefty deposits knowing their finished home won't be worth what they paid.

Then there are the indications of a new type of desperation from those who have always had the upper hand in the market — sellers — with homes sitting on the market for far longer than ever, going for below asking price.

In addition, strange new rentals popping up as they try to acquire tenants to cover higher mortgage costs.

While this is all good news for buyers, those who can afford a home in and around Toronto right now, even if prices slide, are limited to a select few demographics, given current lending rates.

Even wealthy investors, who have an alarmingly vast stake in the city's real estate, are being scared off.

Lead photo by

Royal LePage Realty Centre, Brokerage via Strata.ca

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9 Major Interior Design Trends to Watch in 2024

With 2024 fast approaching, it’s hard to grasp that we are almost a quarter of the way through the 21st century. And after spending the most recent few years in a tumultuous cycle of uncertainty, we’ve managed to regain a sense of normalcy due, in part, to the time and energy devoted to making our home environments a priority.

Now is the opportunity to reevaluate the decisions that were made to accommodate in-home offices or cozy nooks for cocooning, or to simply take your interior design to the next level. “A focus on previously underestimated areas of the home such as the hallway, pantry, utility room, and laundry room are coming center stage and enjoying a design uplift,” says Gemma Riberti, head of interiors at international trend forecasting agency WGSN. “Searches for ‘handmade’ and ‘eclectic interior design vintage’ are growing steadily on platforms such as Etsy or Pinterest,” she adds.

For more, we’ve spoken to a roster of ELLE DECOR A-List designers and industry experts from across the country to reveal some surprising—and not-so-surprising—home design trends set to unfold throughout the coming year (and beyond). From 1970—and 1870—period revivals to sinewy shapes and the appeal of handmade furnishings, here’s what we’ve uncovered.

High-Gloss Walls Are Out; Texture Is In

    lake flato san antonio house

    This small room in a Texas home designed by Lake | Flato features highly textured sage-green plaster walls.
    Douglas Friedman

    Plain white walls are still out, but so are slick, high-gloss finishes that can turn any room into a hall of mirrors. “I think lacquer had its 15 minutes, and seeing your reflection in dining room walls doesn’t interest anybody right now,” says Palm Beach–based interior designer Lori Deeds of Kemble Interiors. “Brushed or hand-applied finish is where it’s at, like Roman clay or limewash [with its sueded texture] or hand-tooled plaster, which I love doing.” According to the results of 1stDibs’s seventh annual trends survey, when 624 interior designers were asked to predict the most popular wall finishes, the highest percentage of designers also doubled down on limewash.

    “People want some action to their surfaces,” adds Los Angeles designer Oliver Furth. “Straight painted sheetrock doesn’t feel exciting right now.” But it’s not all about paint or other applied finishes; there’s a lot to be said about clever manipulation of natural materials. “We’ve been thinking a lot about texture—not fabric texture but more like patterns in wood that are three-dimensional,” explains Kligerman Architecture & Design founding partner Tom Kligerman. “And patterns in stone—not just slabs, but [what can happen] when you cut it into a checkerboard pattern of four-inch blocks with half of them recessed and the other half projecting, so its surface has been manipulated into this wonderful geometric texture that changes when you introduce light into the picture.”

    Brown (Yes, Brown) Will Be Your Next Statement Color

    a bed with a lamp on the side

    For his Milan apartment, Paolo Castellarin coated the walls in a silky chocolate hue.
    Francesco Dolfo

    As ’90s neutrals were accurately predicted to replace drab gray tones in 2023, some of the same standout colors are poised to make an earthy splash this year. “We’re definitely seeing more and more brown in our lives—the Billy Baldwin variety of brown—and it’s a real throwback,” says Dallas-based interior designer Jean Liu.

    When pinpointing next year’s hottest colors, 1stDibs determined that dark brown was in the top three, followed by shades of yellow and light brown. “There’s a color we’re using a lot in the studio that we’re calling ‘hot brown,’” adds Furth. “But browns are definitely happening—like really warm browns that might be a play on a 1970s palette, and those caramel colors, along with coral and persimmon.”

    “Our eagle-eyed curators have spotted a major interest in these palette trends over the past few months,” adds Anna Brockway, the president and cofounder of Chairish. “They’re specifically on the rise among our most loved categories including upholstery, painted cabinetry, art, tabletop, jewelry, and decor.” For Danielle Barr, president of Woven, the New York–based rug design and development company, browns are “the new neutrals” and continue to resonate with their clientele. “We launched a lot of brown [rugs] in the past two years—chocolate browns and a variety of rust and deep golden wheat colors—that have a warmth to them because of the existing warmth to the natural wools themselves, so taking those colors on makes them feel even richer.”

    “Brown is a great color—it’s very warm and rich, and it’s actually a great neutral to layer with other colors,” says New York interior designer Alyssa Kapito. “Everything was very gray, and now it’s much warmer—think sepia and caramel.” For designer Neal Beckstedt, the palette is a definite mood shifter. “Beige and brown are on an upswing along with very muddy colors that have an 18th-century calmness to them—think earthy colors with less vibrancy and more richness.”

    Prepare for a Terra-Cotta Tile Takeover

    a dining room with a table and chairs

    Star-shaped terra-cotta tiles clad the floor in this Arts and Crafts–inspired room designed by Ken Fulk.
    Douglas Friedman

    In terms of popular materials, 1stDibs found that ceramic and terra-cotta earned a top spot with nearly a quarter of designers surveyed. “I was recently in Box Hill—Stanford White’s summer home—and his use of terra-cotta in the entrance hall is so beautiful,” says Kligerman. “I’d love to start using more of it in houses just for the sculptural opportunities, and I’m looking into different colors like the beautiful greens and cobalt blues and, of course, the natural shades of ocher.”

    “I’m here for it,” agrees Furth. “Right now, I’m doing a bathroom in glazed terra-cotta tile that will feel like a beautiful Georgia O’Keefe–style hamam.” The clay-based glazed—or unglazed—material’s appeal can likely be attributed to its use across a wide range of design and architectural styles, from Italianate and Spanish to Art Deco and Arts and Crafts. “Antiqued terra-cotta makes for the most fabulous floor—especially in Palm Beach, where we have so much 1920s architecture,” adds Deeds. “As an alternative, clients are really loving the zellige tiles from Morocco that also work so beautifully in these homes.”

    Bouclé Is Here to Stay...but with Fresh Updates

    in a bar and lounge area is a wood floor, arched windows, a walnut sideboard, a round table with three boucle covered low back chairs, a multifaceted round pendant, and a checkerboard patterned vase

    Designer Kelly Wearstler selected bouclé chairs by Nienkamper in the dining room of a Toronto Tudor.
    Adrian Gaut

    Since as far back in furniture design history as 1948, when architect and designer Eero Saarinen upholstered his iconic Womb chair in bouclé, the nubby-textured fabric has proven its staying power. And whether it pops up on a Pierre Yovanovitch Papa Bear armchair or is worn as armor in the form of an iconic Chanel suit, bouclé exudes a certain opulence. For San Francisco–based interior designer Nicole Hollis, it’s the one fabric that is the epitome of quiet luxury. “I’m always attracted to bouclé, and Rosemary Hallgarten’s alpaca bouclé fabrics are just gorgeous.”

    “You don’t want to do an entire apartment in bouclé, but we’ll never get tired of it.”

    “A very stylish friend from New York texted me the other day asking if there was ‘any furniture in 2023 that was not covered in bouclé?’” laughs Furth. “It is here to say, though we’re seeing new versions of it with thicker pile and in different colors—the skimpy cream and off-white bouclés feel down-market.” And where the fabric’s longevity is concerned, Kapito is in full agreement. “It’s a classic and always adds a beautiful texture to a room—you don’t want to do an entire apartment in bouclé, but we’ll never get tired of it.”

    Curves, Meet Straight Lines

    beige and white geometric design rounded sofa up against a dark honey color wall unit with a few cutout shelves and in the foreground are two low tables one white striated and other other textured wood with various objects and books on them

    Postmodern curves meet Bauhaus-inspired grids in this Polish house designed by Studio Paradowski.
    PION Studio

    Reporting on the most iconic seating, 1stDibs named Hans Wegner’s Wishbone chairs and Vladimir Kagan’s Serpentine sofas among the most coveted by designers—both of which share one distinct attribute—curvaceousness. “I’m over the straight line—we’re all about some curves and softer shapes in the new year,” says Liu. “With furnishings, we see scalloped details are really part and parcel of pieces we’re specifying, and it could be in the frame of a mirror or an upholstery detail—we recently showed clients a set of found barstools that had an undulating wood-carved detail on the back that they really loved.”

    “The precision of being a perfect block is out.”

    “A [Jean] Royère Polar Bear sofa never gets old for me,” says Kapito. “The thing you need to remember about any trend is that you don’t want to commit to it everywhere, so if you have a curved desk and chairs, you want to make sure there are also [pieces with] straight lines in the room—it’s a mix and balance that makes a space interesting.” Not surprisingly, Deeds takes a similar stance, with regional design in mind. “The undulating curves like those found in [the work of] Royère are a regular theme in Palm Beach design, and the scallops you’re seeing in furniture design are really hot right now but also timeless.”

    “I see so many curves, and they’re not going away,” adds Hollis. “Artisans are embracing that curvature and more organic forms.” For Beckstedt, the path ahead is decidedly more roundabout. “The precision of being a perfect block is out. Biedermeier furniture, for instance—with its curves and warmth—is becoming more present, and gone are the days of ’80s-inspired glass and steel.”

    Artisanal Everything Is In

    montana labelle toronto

    A view of Toronto designer Montana Labelle’s collection of vintage textiles, ceramics, and accessories.
    Patrick Biller

    There’s an art to creating exceptional design, and it’s never more evident than in bespoke pieces and artisanal work that showcase the incomparable skill of human hands. “We’re not sick of seeing the artist’s hand and the human touch [in design], especially post-pandemic,” says Furth. “Our clients are craving the handmade—whether it’s ceramic tile or hand-carved wood furniture or handblown glass, human irregularity is soothing.”

    Tapping artists to expand their craft for one-of-a-kind, hand-tooled pieces is something Hollis does on a regular basis. “[British artist] Nic Webb carves these gorgeous vessels out of solid wood, and we asked if he could turn one of them into a light fixture [for a project],” she explains. “And it really made a statement.”

    In its own trend forecast, Chairish identified an increased demand for imperfectly perfect design that included American folk art and elements like whip stitching. “Handmade, heirloom, antique, or vintage items were made with consideration and care,” adds Brockway about a world where anything can be mass-produced. “There’s something incredibly unique and just plain fun about the way their details come to life.”

    New York and Palm Beach–based designer Victoria Hagan applauds the character in these small details as well. “I’ve also placed a new emphasis on natural materials, including a celebration of their imperfections,” she adds. “We’ve all certainly learned that life is not always perfect.” As Barr explains: “Everything we make is by hand, and one of the things we do intentionally is mix materials in a way I don’t think our weavers have seen before. We don’t like things to be flat and perfect, which makes you see more abrash, or the natural variations [in the rugs].”

    High-Tech Lighting Will Be Our Decorating Bestie

    a light colored monochrome kitchen has a wall of cabinets and an island with a sink and a counter with vases and a bowl of oranges, hallways on either side of the island, a large square skylight, and limestone floors

    Developing the ability to change the intensity and color of the light in a space was truly a bright idea, and over the past decade the technology has become more and more desirable. “People are embracing the technology that allows for color tuning,” says Liu. “It can make a room feel like it’s getting natural daylight even if it’s gloomy outside, but it’s not inexpensive.” She also notes the very practical purpose it serves for some of her clients. “For art collectors, it really elevates the way they’re interacting with the works in their home.”

    Companies like Philips, AiSPiRE, and USAI Lighting have long offered an array of products to enhance interior LED lighting, and now designers and homeowners alike are beginning to see the light. “Though [the ability to tune] color temperature is a big thing—some clients love it, and some don’t,” admits Hollis. “We’ve been using Kreta, and each light bulb is programmable and you can warm it and change the color temperature—it’s a little more expensive [than traditional lighting], but you have the capability to control it all through an app.”

    Alternative Materials Will Be the Standard

    light colored space with honey colored walls and floor a small stairway leading up and a beautiful old cane seat chair standing guard

    Retrouvius clad the walls of this Paris triplex with offcuts from a leather factory.
    Theo Tennant

    Sustainability has transcended trendiness to become a wider goal for the design industry in an effort to significantly reduce negative environmental impacts, while also enhancing the well-being and spaces of those who embrace it. “We’re seeing a lot of attention being paid to materiality—what it is, where it comes from, and where it’s sourced,” says Hollis. “And that means people are creating furnishings and products that are more interesting based on those parameters, like Max Lamb’s furniture collection made from recycled cardboard.”

    In an ongoing effort to “reshape the rug industry” and minimize its impact on the environment, Woven is constantly pushing the envelope when it comes to production of its bespoke floor coverings. “We’ve mixed aloe [fibers] in with wool, and now we’re working with eucalyptus silk—which is another sustainable product—and mixing it with natural wools to create more depth and texture in our rugs,” explains Barr.

    Victorian-Era Details Will Have a Revival

    danielle colding elle decor

    Ornate moldings and a moody palette are all part of an upcoming mania for all-things Victorian, as this sophisticated living room by Danielle Colding demonstrates.
    Kelly Marshall

    Whether or not we have to thank television series like Julian Fellowes’s HBO period drama The Gilded Age—and its predecessors Belgravia and Downton Abbey—for the renewed interest in the aesthetics of 19th-century design is beside the point, because we’ve moved straight into embracing it. “We recently completed a home with walls comprised of different pieces of oak, reminiscent in a way of Victorian architecture with its beaded board and square and diamond shapes, so there’s this great interior texture—especially when the light crosses the surface,” shares Kligerman. Though he’s quick to add the era’s heavy design shouldn’t be translated too literally. “You eliminate some of the fussy, flowery details and make it more abstract, more rectilinear—or even geometric—and remove the Gothic tendencies so it’s cleaner.”

    “To that point, clients have been coming to me with images of that [late 19th-century] Parisian style—crown moldings and chevron floors—so there’s definitely a revival happening,” adds Hollis. “There’s also more modern millwork in conjunction with those moldings and things [as a balance], but it’s certainly a more ornate style.”

    Still, one has to wonder, Are these late 1800s design elements really making a comeback? “Absolutely! And we can’t forget fashion’s influence either,” says Brockway about the rise in Victorian-inspired flourishes. “We consider it a nod to maximalism and a reminder to layer these elements into your home through furniture, art, and decor for the ultimate one-of-a-kind look.”

Builders call Ottawa’s tax split ‘major needle mover’ on construction of rental models

Open this picture in gallery:

A townhome development challenge beneath construction in Toronto, Sept 13, 2023.Fred Lum/The World and Mail

Genuine estate corporations say Ottawa’s new GST break on design will spur them to produce countless numbers of new rental models by offsetting soaring financing and setting up costs.

Fitzrovia Actual Estate, an condominium developer and home supervisor, mentioned the new 5-per-cent tax price cut would make it possible for it to create 3,000 much more rental units inside the subsequent 10 months. “It’s a extremely substantial bold step in moving new offer forward,” chief government officer Adrian Rocca claimed.

Tricon Household Inc., which also builds and manages rental apartments, stated it would be ready to go in advance with far more than 1,000 units within just the upcoming six months. “We’ve surely experienced to just take a pause on some initiatives mainly because of high construction prices and fascination rates. And this is going to help shut the gap,” stated Andrew Joyner, taking care of director of Tricon’s Toronto investments.

Prime Minister Justin Trudeau declared the tax relief very last Thursday in a bid to kick-start design on rental units amid a surge in housing charges and increased desire from residents and newcomers. Ontario, the country’s most populated province, has already vowed to minimize the provincial product sales tax from new rental construction, which more lessens prices for builders.

Household building fees have climbed 55 per cent around the training course of the pandemic and into this calendar year mainly because of a scarcity of supplies and competitors for construction personnel. As properly, the price tag of funding has spiked as the Bank of Canada elevated its fascination charge to five for every cent from .25 per cent to slow inflation.

The bigger charges have produced it unprofitable for authentic estate organizations to establish rental models, also acknowledged as function-developed rentals. Several developers possibly set their objective-developed rentals on hold or turned them into condos, where by gains are understood as quickly as the unit is marketed.

Explainer: What is the Housing Accelerator Fund?

The tax break is a substantial win for the setting up industry, which experienced been lobbying for the GST elimination among the other actions to decrease progress prices.

“There have been initiatives on the books that received shelved and our users are expressing this can offer the remedy to get all those projects likely once again,” explained Kevin Lee, CEO of the Canadian House Builders’ Association, the nationwide design field team.

The elimination of the five-for every-cent federal products and solutions tax became successful on Thursday. Known as the Increased GST Rental Rebate, the new plan applies to rental design that starts by 2030 and is concluded by the conclusion of 2035.

Builders will no for a longer period have to pay out the five-for each-cent GST on the assessed price of a accomplished rental unit, according to federal government’s Finance Department’s web site. For example, if the assessed benefit of the condominium device is $1-million, the developer will not have to pay back the five-per-cent GST of $50,000.

The transfer aids objective-crafted rental developers cut upfront fees, which just take a for a longer period time to recoup than with condos. Condo builders get well their expenditures and get paid a income instantly following they offer their condo models, while intent-designed rental builders only get well their charges and make a earnings immediately after their units have been rented around a lengthier interval of time.

Non-earnings housing groups have also been calling for the elimination of the GST on new construction. Habitat For Humanity Canada, which builds new households and can help people acquire them, explained the tax split will considerably increase the source of rental units. It would also like Ottawa to grow the rebate to new residence design.

“We know that reducing these expenditures will aid non-revenue produce far more housing with the methods we have,” said Julia Deans, CEO of Habitat for Humanity Canada.

The typical price tag of a dwelling across the nation has topped $700,000 and the typical regular monthly rent for a a single-bed room is much more than $2,000. But even although condos have turn out to be the dominant variety of rental housing in the nation, tenants can be kicked out of their device if the proprietor wants to promote their rental or shift again into the unit.

Reason-developed rental buildings usually give tenants a a lot more permanent spot to are living than a condominium or home owned by an personal. They were being a even larger component of the housing market place in the 1970s. Having said that, rental construction dropped in the 1990s and fell to a low of 6 per cent of the country’s full housing starts in 1997. But the rate has been growing as the federal government has pushed for more rental housing. Last 12 months, function-crafted rental starts designed up 34 for every cent of the country’s new home construction, in accordance to data from the federal housing agency Canada Mortgage loan and Housing Corp.

“The GST rebate will support. We truly need much more goal-crafted rental housing,” mentioned CMHC’s deputy main economist Aled ab Iorwerth. CMHC estimates that the state requires an additional 5.2 million houses to be created by 2030 in buy to lower housing fees and make sure that inhabitants are not paying a lot more than 40 for every cent of their disposable earnings on shelter.

Tricon and Fitzrovia stated the tax break would allow their respective companies to establish much more.

“Every calendar year, we’re hunting to insert web pages and construct extra rental housing. And now this is likely to assist us be able to truly do that,” reported Mr. Joyner. “Instead of searching at 100 internet sites and staying capable to make 1 project a year, we’re all seeking at 100 web-sites and ideally be in a position to develop quite a few more than that,” he mentioned.

Like Tricon, Fitzrovia is also hunting for new web pages. Mr. Rocca estimates that his corporation will include an additional 2,500 units to its pipeline. As perfectly, Fitzrovia is growing outside of Toronto into more compact Ontario towns these as London, Guelph, Hamilton and Kitchener-Waterloo. “This is a major needle mover for us,” he stated.

The federal authorities has believed that the GST elimination will price the treasury $4.6-billion in its very first six several years. Ottawa did not disclose how it will recover the misplaced profits.

Quebec and Nova Scotia have claimed they had been examining the federal decision. British Columbia does not demand provincial product sales tax on the sale of reason-built rental properties and Alberta does not have a provincial product sales tax.

Property: ‘The major mistake’ you can make when painting your home’s exterior

When it comes to portray your interiors, there are quite a few popular tips, ideas, and traits to achieving the excellent complete. But what about when it will come to the outside the house? Your exterior is accountable for making a initial and long lasting effect on all who move by your home – so it’s crucial to get it ideal. Those people on the lookout to build an affect that sets the tone for the relaxation of your scheme, then knowing how to paint a house’s exterior the expert way is the best put to start and a component of having that specialist finish is being aware of what you need to have to avoid.

In accordance to Alex Sinclair, director of solution facts at Sherin-Williams, the major oversight homeowners make happens extended ahead of they even contact the paint brush. 

In fact, the method starts with your paint thoughts at the shopping for phase. This is what each and every house owner requires to know ahead of portray the exterior of their house.

Alex stated: “The most significant mistake that can be designed when identifying which paint to use outside the house is not making use of a solution formulated for exteriors.”

When seeking for paint colors for the home exterior, Alex urges homeowners to get time to analysis the high quality and attributes of a distinct paint to the ecosystem in which it will be applied. 

Study A lot more: How to get a ‘smooth’ and ‘consistent finish’ when portray ceilings

The painting professional reported: “The very best exterior paints present UV and temperature protection, generating them resistant to peeling, blistering, and cracking.

“Homeowners really should appear for paints formulated to resist color fade, chalking, mildew, and dirt, saving them money and time in maintenance in the very long term.”

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A developer is again planning a major new construction project for a downtown Anchorage block. It includes demolition of the 4th Avenue Theatre.

A developer is laying plans for a major project overhauling a downtown Anchorage block, with a vision for residential and retail space, a hotel and more.

Plans for the project, estimated to cost more than $200 million, also include the demolition of the historic 4th Avenue Theatre, which was built in the 1940s and some community members have long passionately advocated for preserving.

“We plan to rebuild (the) façade and exterior marquee sign of the former 4th Avenue Theater and with modern, durable materials as part of the plan,” brothers Derrick and Terence Chang of Peach Holdings, LLC, a company that owns nearly all of the buildings along the block, said in an email.

The theater’s iconic sign has long hung over the central downtown street, and advocates have pushed to preserve its exterior as well as the various Alaska-themed artwork in the art-deco-style theater’s interior.

The Changs have been presenting their plans recently to community groups.

The Changs declined repeatedly to be interviewed about the plans. In an emailed response to questions from the Daily News, they said the project is envisioned as a mixed-use development, including hotel, office, retail, housing, parking and entertainment space. They’re calling it “the biggest private investment in downtown since (the) 1980s.”

“This project, Block 41 Development, is a reflection of our continuous belief in downtown Anchorage,” they said in the email.

The Chang brothers are the sons of Joe and Maria Fang, who have formed a real estate enterprise in Anchorage that, through multiple companies, owns several buildings in the city, including almost all of the buildings along 4th and 5th Avenue between G Street and F Street, as well as the 15-floor 188 Northern Lights building on Northern Lights Boulevard.

The theater was purchased by Peach Investments in 2009 for $1.65 million. The family also owned the blighted Northern Lights Inn, which they agreed to tear down in 2017 in order to avoid fines and fire code violations.

“The only economically feasible approach”

While prior demolition permits have sparked concern among community members who feared the loss of the theater, none have so far materialized and the theater still stands downtown, albeit vacant and boarded up.

Peach had previously proposed another project with similar amenities, but after it became mired in issues over tax breaks with the city, the project stalled. A spokesman for Mayor Dave Bronson declined to comment on the current plans.

Now, buildings listed for demolition in a city permit include the theater’s address, plus multiple buildings east and west of the theater, including 608, 646 and 650 West 4th Ave., and 413 and 423 G Street around the corner to the west.

Most of the block has been designated as a deteriorated area, which makes it eligible for potential tax breaks.

“Like most downtown buildings, those on Block 41 are outdated, tired, and with inefficient building systems,” they wrote in the email.

The Changs said they determined that demolition of the buildings was “the only economically feasible approach.”

The Changs said the project’s next steps are still being determined — they are currently focused on a multimillion dollar renovation of the nearby former Key Bank building, on 5th Avenue. They said they are “still working through (a) years-long process with (the) Municipality of Anchorage,” as well.

Some of the buildings on the 4th Avenue block between G Street and F Street do not comply with basic Americans with Disabilities Act regulations, according to the Chang brothers. They said they’ve found lead, asbestos, failing boiler and electric systems and seismic concerns .

The demolition of the buildings on the 4th Avenue side will take place at the same time as an upcoming phase of the city’s ongoing street improvement project along 4th Avenue, which starts in June, the Changs wrote.

Notes taken during a late March presentation about the project to an Anchorage economic development group detailed plans for a hotel built above the fourth level of a parking garage.

“There is hope” that the project could someday also be linked via skybridge to the nearby Egan Center, the Alaska Center for the Performing Arts and the Anchorage Police Department buildings, the meeting notes say.

A representative for the developers declined to comment on the status of financing for the project.

“Once a building is gone, it’s gone”

Prior plans to demolish the theater triggered opposition from some, who cited the building’s iconic architecture and interior artwork. As word has seeped out on the newest plans in recent days, it has renewed calls to preserve it.

The theater once sat 960 people, decorated with a “rose, chartreuse and light blue color scheme,” wrote Alison K. Hoagland in the 1993 book, “Buildings of Alaska.”

The theater building’s ceiling features the Big Dipper and a wall in the lobby has a gold-leaf mural of Denali, according to Hoagland. It was developed by industrialist Austin “Cap” Lathrop and was designed by Seattle architect B. Marcus Priteca. While work on the theater began in 1941, it halted during World War II, before being completed in 1947, according to Hoagland.

“By that time, the style was slightly out of date, but nonetheless fantastic,” Hoagland wrote.

Over the past decade or so, the Changs say they’ve hired experts and historic consultants to assess the theater. This year, they started what they characterized as an “intense” process for preserving and protecting the art, murals and relief pieces in the theater.

“We plan to rebuild façade and exterior marquee sign of the former 4th Avenue Theater and with modern, durable materials as part of the plan,” they wrote.

They said they’re also working with the National Park Service’s Historical American Building Survey program, “which is part of a national archival submittal to document/record every aspect of the former 4th Avenue building,” they wrote.

Heather Flynn, who represented downtown on the Anchorage Assembly in the 1980s and early ‘90s, said a plan to maintain the interior artwork and murals in the theater building would be an act of good faith on the part of the developers, given how loved the theater is. She said she also understood why, from a development standpoint, they wouldn’t be able to maintain the theater in its entirety.

“I think the challenge has always been what to do with it and who pays for it,” Flynn said.

Advocates over the years have pushed for preserving the building and voiced serious concerns over demolishing it, noting it as both important to the state’s history and culture.

“It has a special place in my heart,” said Cheryl Lovegreen, vice president of the Friends of the 4th Avenue Theatre, a group with a mission to help others learn about the theater and work toward its preservation, though they have not met as a group since the onset of the COVID-19 pandemic.

While the group has yet to take a stand on the new plan, Lovegreen said she’s sad to see the building go and hopes the murals will be preserved and displayed somewhere the public might see them.

While she initially hoped the theater building could be saved, Lovegreen said she now assumes it will come down and has since shifted her concerns from saving the building to saving its interior artwork.

For Lovegreen, who grew up in the Anchorage area, the theater was a part of her life: Her first date with her husband was there. People are passionate about the theater, she said. It was a part of their lives growing up.

“People get very emotional on this subject, and I think that leads to a lot of people sounding like hotheads who are trying to attack the company, when actually they’re more focused on the building itself and that’s how it comes out,” Lovegreen said. “So I think because of that, there have been a lot of hurt feelings over the years.”

Trish Neal, president of the Alaska Association for Historic Preservation, said that she would rather see the building restored and repurposed instead of torn down. She said many people remember movies, dates or anniversaries spent at the theater.

“Once a building is gone, it’s gone,” Neal said. “It’s lost to history and it’s a real shame, because the theater has a lot of history attached to it.”

The building was rated by the preservation association as the most endangered historic building in Alaska right now, a list the group compiles to bring awareness to certain historic properties.

In the emailed statement, the Changs said that they’ve owned Anchorage property since the 1980s and live in the city, with kids in school here.

“Our downtown development is about believing in our economy and community and being willing to lead the way in investment and revitalization,” they wrote. “This will be a project that the community can be proud of while giving our economy the boost it needs and a taste of a bustling lifestyle downtown can offer beyond normal business hours.”

• • •

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The major techniques to conserve dollars on a property renovation revealed

couple redecorating on a colourful background

Make time for sample paints and acquire Do it yourself bits second-hand (Photograph: Getty Photographs)

Enhancing a dwelling arrives at a value.

In actuality, a new report discovered that home renovation expenditures are now 40% increased than they had been two yrs ago.

Given that the start of the pandemic, the price of a full lavatory overhaul has improved by 40%, even though loft conversions and kitchen transformations have the two absent up by 25%, on average.

But there are a range of ways you can help you save money on renovations.

We have asked persons who have carried out residence enhancement jobs themselves to suggest their strategies for pocketing cash.

This is what they had to say…

Purchase second-hand – even your kitchen

Alice Greedus claims shopping for 2nd-hand is a terrific way to preserve cash – and she even did this with her personal kitchen area.

She claims: ‘Spend some time on Gumtree and eBay each individual day on the lookout for very good offers. Folks will sometimes get rid of kitchens they really don't like that aren’t really aged at all. We bought our kitchen for £200 off Gumtree, it has a wonderful quartz worktop and is pretty great high quality so could be rebuilt in our home.

‘My husband or wife negotiated the price tag down and the arrangement was that we would have to remove the kitchen and just take it away – corporations can cost a fortune for this company.

‘We bought numerous 2nd-hand items at awesome selling prices which includes a wine cooler, induction hob, top rated of the vary kitchen faucet, and even a Kitchen area Support. Most of the time persons had acquired these new but did not like the color, or had altered their thoughts.’

alice's kitchen before

Alice’s kitchen area before…(Picture: Alice Greedus)
…her kitchen immediately after (Picture: Alice Greedus)

Seek the services of proposed tradesmen

Alice also indicates acquiring welcoming with regional tradesmen, right before you start out your renovation.

She states: ‘It’s unlikely you will be in a position to do all the perform oneself, some electrics or plumbing may perhaps have to have a competent particular person and – whilst YouTube can be a excellent assistance for other Do-it-yourself information and facts – you often have to know when it’s time (and safer) to find assistance.

‘Hire advisable tradesmen and question your loved ones and mates if they know somebody before you appear on the net.’

Support tradesmen out to preserve time and income

Alice also suggests it is worth observing if you can help the tradesman in any way.

She explains: ‘My lover served our electrician for the day, doing all preparing work and messy large careers so we created the most use of his time.

‘The electrician was extremely delighted with this arrangement as he ordinarily hates the time-consuming preparation work – it is really worth asking when they appear to give you a quote if there is everything you can do to assist them beforehand.

‘By generating close friends with the local window and doorway fitter we managed to get a new entrance doorway value around £1,000 for £200. This door was remaining in excess of from a task that didn’t go ahead.’

Do it oneself – and use YouTube tutorials 

Beth and her boyfriend worked to expose the brick behind the hearth in their Victorian property (Picture: Beth Greer)

Beth Greer (@ivyandbee.residence) champions carrying out as much as you can oneself – mastering from tutorials as you go.

‘We have finished, and proceed to do, a ton of renovation on our household. It may not be really unique, but YouTube has proved invaluable,’ she tells Metro.co.united kingdom.

‘My spouse is generally referring to “how to” video clips – the very last a single was how to lay a herringbone flooring and in good shape panelling in the eating room. We also have some excellent neighbours who are a great supply of information.’

Get the suitable tools

Beth Greer provides: ‘The second idea would be to devote in the correct applications.

‘I shell out my lifestyle on Instagram getting heaps of ideas of how I want our home to seem – but my partner is the one carrying out the challenging work and he’s learnt that getting the ideal equipment for the occupation will get the career completed more quickly, and with a better outcome.’

Don’t pay another person to oversee the perform

‘If you have time to job deal with the different work opportunities your self, it can save you countless numbers,’ claims Natalie, who has been chaotic renovating her first residence in Walthamstow.

‘It isn’t effortless, but it can seriously make a enormous big difference for your spending plan. We have been initially quoted £15,000 for an individual to oversee all of our get the job done – not which include any supplies – and we quickly realised that wasn’t feasible for us.

‘My spouse is freelance, so had a great deal far more time during the working day to oversee and act as job manager – we couldn’t have accomplished it devoid of that.’

Try out and resource most materials 

Aman Garcha who renovated her full downstairs, indicates seeking to resource all your own components, to help you save money.

She states: ‘We did as significantly of the do the job ourselves as we could – such as knocking by means of partitions, panelling, and portray.

‘We also sourced many of the products for the develop ourselves – this contains the bricks, crittall-type doorways, and Velux skylights. We shopped all around for the very best charges.’

Obtain Do-it-yourself equipment 2nd-hand way too

Buying 2nd-hand can also lengthen to your Do-it-yourself equipment.

Natalie provides: ‘Often, other Do it yourself-ers will put their leftover Diy elements – like grout, plaster, filler and silicone up for sale – and it can a lot more affordable than shopping for anything model new.

‘Particularly if you only require a little sum of a little something.’

Make time for samples and testers

Natalie also advises taking some time to be confident of your paint colors.

She suggests: ‘It might seem like you’re preserving time by not tests out a paint color, or testing the colour of the wooden varnish, but diving in to a occupation when you’re not 100% sure will cost you extra revenue in the very long-operate.

‘We finished up wasting dollars (and time) painting complete rooms the completely wrong color – which was massively annoying, and ate into our price range.

‘So, even if it feels like it’s taking eternally, make time for testers – and exam your colours in different lights and at diverse occasions of the working day.’

Do you have a story to share?

Get in contact by emailing [email protected].

Additional : Couple remodel run-down kitchen with Do-it-yourself shelves made out of an old headboard

Extra : Female transforms hallway with vibrant Do-it-yourself makeover – employing just three things

Additional : Very little-recognized Do-it-yourself jobs that will need preparing permission

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