Saturday, February 26, 2022

Toronto area home prices up 453% since 1996, report finds


In 1996, the average price for a home in the GTA was $198,150. Today, it’s $1,095,475.

Skyrocketing prices over the last 25 years were fuelled by strong demand and limited supply, a new report by Re/Max Canada found. Since 1996, residential unit sales have doubled and the average price has increased by 453 per cent.

Between 1996 and 2021, more than two million homes were sold in the GTA, representing a $1.1 trillion boom for the real estate market.

“Performance of the GTA housing market over the 25-year period has been nothing short of remarkable,” said Christopher Alexander, president of Re/Max Canada, in a press release. This is especially so when considering this time period was characterized by the tech meltdown of 2000, 9/11, SARS, the Great Recession of 2008, Ontario’s Fair Housing Plan and the ongoing pandemic, he added.

While costs are shooting up, Alexander said the average annual growth rate is 7.08 per cent, which is the “best pocket” to be in as it’s not too strong and is still positive – meaning homeowners make “a bit of equity every year.”

“Anything over eight or nine per cent you’d have concerns over how long it will last,” Alexander said. “There have been so many stories on a real estate bubble but seven per cent is perfect. If you could hope for an appreciation number year-over-year that would be it.”

The report analyzed home buying activity in nine GTA regions – Toronto East, Toronto West, Toronto Central, Durham, Halton, Peel Region, York Region, and Simcoe and Dufferin counties.

It found land availability, especially in the city’s core and surrounding communities, waned. Low supply combined with migration, low interest rates, and affordability continue to impact the market in the GTA, the report said. 

While a handful of regions experienced triple-digit increases in sales, including Toronto Central, Halton Region, York Region, Simcoe County and Dufferin County, the entire GTA “reached new heights” for average sale prices.

A reason for increased sales in Halton, Durham, Peel and York regions is new construction — East Gwillimbury is the fastest growing municipality in Canada.

For the last 25 years, these regions offered more affordable options for those looking to purchase, the report says. First-time home buyers moved in and transportation infrastructure with the GO train and another 400-series highway developed.

But with less land to build on, high density housing has become a priority with more condominiums being built — condos in Mississauga represent one in every two sales, the report said.

Condo apartments and townhomes account for 76 per cent of sales in Central Toronto, according to data from the Toronto Regional Real Estate Board (TRREB).

In Toronto there isn’t much land available to buildup supply, said Cameron Forbes, a broker with Re/Max real estate.

To increase supply, the GTA needs to be creative and get “more flexible with municipal bylaws,” he said.

Ways to do this include, turning existing lots into two units, converting single family homes to multi-family dwellings, and demolish existing stock to increase density — the Imperial Oil building on St. Clair Avenue West — now the Imperial Plaza Condominiums — is a prime example, said Forbes.

With population growth in the GTA expected to explode, high demand will continue, Forbes said.

During the start of the pandemic immigration numbers fell with border closures. But the federal government is making up for the shortfall allowing more than 400,000 new permanent residents in 2021 — the most newcomers in a year in Canadian history. In 2022, the country is expecting 420,000 newcomers, and 430,000 in 2023.

Around 40 per cent will settle in the GTA, said Forbes, resulting in roughly 160,000 to 170,000 newcomers. That means 50,000 to 60,000 new homes will need to be constructed annually to accommodate them. For the last decade, 40,000 new homes have been built annually, he said.

“That’s a big reason for the driving cost,” Forbes added.

But there are still pockets of affordability, he said. Those wishing to enter the market can buy smaller apartments in the city or move further out in the GTA, or just outside of it, if looking for a family home. Because of the pandemic, more people have moved further out of the city centre, made possible by remote work, Forbes said.

Over the next 25 years housing prices are expected to rise at a greater rate than inflation due to population growth and the job market, with many flocking to the GTA for career prospects.

“The economy is strong in the GTA,” Forbes said.

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Toronto reveals which speed cameras are catching the most drivers

The City of Toronto released its most recent automated speed enforcement (ASE) data Friday, revealing the devices issued more than 50,000 tickets during the last quarter of 2021.

In a release issued Friday, the city said that a total of 54,391 tickets were issued between October and December near schools in “community safety zones.”

Of the more than 54,000 tickets issued, 15,687 were given out in October, with the most common location to receive one being Victoria Park Avenue near Tiago Avenue in Don Valley North.

November saw 11,516 tickets issued by the devices. The most common location was Kipling Avenue south of Snaresbrook Drive in Rexdale.

In December, ASE devices issued 27,188 tickets. The device on Royal York Road north of Coney Road issued the most tickets that month at 2,724 — or nearly 10 per cent of all tickets issued in the last quarter of the year.

While drivers may be subject to fines if ticketed by an ASE device, they do not incur the driver any demerit points and do not affect a person’s driving record.

“These numbers continue to show that speed cameras are an important tool in our Vision Zero toolbox that increase enforcement against those choosing to break the law,” Toronto mayor John Tory said in the statement.

Tory said that the city can expect more speed cameras to be deployed, along with other measures such as “road and intersection redesigns, speed limit reductions, the installation of more head start pedestrian signals and increased traffic enforcement by Toronto Police.”

As of January, the city’s ASE devices have been installed at a fifth round of locations. Signs have been posted at all locations to warn drivers, the city says.

Since the city installed the ASE devices in July 2020, they say 392 Part III charges, meaning they need to be seen in a court, have been laid. The highest excess speed charge, according to the city, was laid in Etobicoke North when a driver was clocked driving 146 km/h in a 50 km/h speed limit zone on Martin Grove Road north of Garfella Drive.

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Saturday, February 19, 2022

History of the Yorkdale Shopping Centre in Toronto


When visiting Yorkdale Shopping Centre today, I find it difficult to realize that it is the same plaza that I experienced when it opened in 1964.

It has been greatly expanded during the past five decades, and though the original sections of the mall survive, they are almost unrecognizable.

The story of Yorkdale is a vital part of the history of retailing in the Toronto area. It was Canada's first indoor mall, an improvement for shoppers that particularly suited the Canadian climate. It allowed people to park, walk inside an enclosed structure, and access shops from its interior.

Yorkdale was built in an era when many suburbanites shopped at "strip malls," constructed to accommodate those living in communities surrounding the city that owned cars.

The first strip mall in the Toronto area was at Bayview and Eglinton. Many such malls still exist today, consisting of shops built in one or more rows, their front doors facing an outdoor parking lot. Customers enter the stores directly from the parking lots.

Strip malls began appearing after the Second World War, when many Torontonians were relocating from the city’s urban core to the suburbs.

They were following a dream of owning larger homes on more generous-size building lots. Some of the houses they left behind in the inner city were purchased or rented by the immigrants arriving in the city.

Relocating to the suburbs was facilitated by the post-war's booming economy, which placed automobile prices within the reach of more and more Canadians.

Vehicle sales skyrocketed, creating the beginning of a "car-dominated society." It allowed people to travel greater distances to shop or attend a movie.

Eaton's was one of the first to realize the potential of meeting the needs of the increasing number of suburbanites.

Prior to the Second World War, the company's department stores were in the downtown core. Aware of the expansion in population in the suburbs, in 1954, for the price $1.4 million, Eaton's bought 100 acres of land located to the northwest of the city. The intent was to erect a large shopping mall on the site.

Eaton's knew that it needed another major retailer to join in the venture. As a result, in 1961, the company offered to sell the Robert Simpson Company one half of the site if it joined in the enterprise.

However, Simpsons wanted only 19 acres, on the west side of the property, and stipulated that the price must include sewage, water connections and roadways. Eaton's agreed and spent $1 million to satisfy the terms of the deal.

The land where Yorkdale was to be erected was cleared and ready for construction by the spring of 1962, the work commencing during the early-summer of that year.

yorkdale shopping centre

View looking west in March 1964 of Yorkdale, the Eaton’s Store in the foreground and Simpsons in the distance.

Everything was completed by February 1964. As opening day drew near, John David Eaton insisted that the mall close at 5:30 or 6 p.m., similar to its downtown stores.

However, the smaller retailers in the project strongly objected, since they wanted to remain open until 9:30 p.m.. John David finally agreed, after he was assured that employees would not be required to work longer hours than they wanted.

On Sunday, February 16, 1964, long lines of customers gathered at the various entrances to Yorkdale, waiting for the 9:30 a.m. opening. By mid-morning, its four parking lots (6,500 spaces) were completely filled.

At 2:30 p.m., drivers were scouring the lots trying to find a place to park. By the end of the day, the Star newspaper estimated that 100,000 shoppers had crammed into the mall.

yorkdale shopping centre

View of the three-storey court on the south side of the Simpsons store. The curved staircase on the left leads to Simpsons Court restaurant. The photo is undated, but it is likely c. 1964. Toronto Public Library, tspa 0014666f.

Yorkdale had over 1.2 million square feet of space, containing 61 retail shops, several restaurants, and multiple services.

The Dominion (today their stores are named Metro) was the largest the company had ever built, containing 17 checkout counters.

The week the plaza opened, some of the shops were not yet occupied, but it was still an impressive sight. For a short period of time, Yorkdale was the largest indoor shopping mall in the world. Though its size was impressive, its importance was perhaps due to another factor.

Yorkdale set the pattern for future malls across Canada. It demonstrated the advantages of locating malls near transportation hubs, which allowed shoppers access from nearby arterial roadways.

As well, it showed that if retail enterprises of this size were to be successful, more than one large-scale store was required. Yorkdale actually possessed three—Simpsons on its west side, Eaton's on its east, and a Dominion Store on the south.

It was the first time that Canada's two largest department store chains—Eaton's and Simpsons—were under one roof. This was accomplished, even though they had been competitors across Canada for many decades.

Prior to the opening of Yorkdale, many people living in the suburbs had continued to shop downtown or visited local strip malls. Neither of these options was truly convenient.

When suburbanites drove downtown, even then, parking was becoming a nightmare. Strip malls were also at a disadvantage as they were exposed to the vagaries of the Canadian weather.

The appeal of Yorkdale was obvious. It offered numerous retail outlets that were closer to home than the downtown, were impervious to the weather, and possessed plenteous free parking.

Torontonians were able to drive to the mall to shop indoors, enjoy a meal or snack, and attend a movie theatre, all at one destination.

The configuration of the Yorkdale Plaza was basically an "L-shape." The top of the "L", the bottom, and elbow of the "L" were anchored by one of the large stores.

The corridors that connected the big stores resembled indoor shopping streets, one-third of a mile long, 40 feet wide, the ceiling above them two storeys in height.

The three large retailers had large open spaces in front of them, similar to a courtyard or piazza, which were three-storeys high.

Since the mall was climate controlled, shoppers were able to enjoy strolling along the wide avenue-like areas and courtyards in comfort, immune to the weather outside.

The curtains in the spacious windows, located high above the shops, could be automatically adjusted to allow the proper amount of light to enter the interior of the plaza.

Other pleasing features were the two large fountains as well as numerous 20-foot trees, some of them palm trees.

In 1964, Yorkdale had many popular stores — Reitman's, Collyer Shoes, Peoples Credit Jewellers, Laura Secord Candies, Hunts Bakery, Jordan Wines, Henry Birks and Sons Jewellers, Jack Frasers Men's and Boy's Wear, Toy World, Kresge's and Eddie Black's Camera Store.

I vividly remember Coleman's Delicatessen and its delicious corned beef sandwiches, the restaurant located near the Dominion Store.

There was a Smitty's Pancake House, which also served small steaks (the site later became "Obies"). The Encore Noshery was reputed to be the largest restaurant in Canada in a shopping centre.

The beauty parlour, "Ponytails," which catered to the needs of small children, had hobbyhorses instead of regular chairs.

Yorkdale had a cinema with two auditoriums, with combined seating for 1200 patrons. I remember seeing Mel Brook's zany film Blazing Saddles at the Yorkdale Cinema in 1974.

It was an afternoon matinee, attended mostly by seniors. I was one of the few persons in the audience that did not have purple-tinted hair. As a matter of fact, even then, I did not have much hair at all.

As the screening progressed, I discovered that I was also one of the few that was laughing. I admit that the humour was a little off-colour— typically Mel Brooks.

Eaton's and Simpsons both had restaurants. The Simpson's Court restaurant overlooked the cathedral-like interior courtyard with its three-storey ceiling.

I remember visiting it numerous times for lunch, usually ordering the daily special of soup, chicken-pot pie, and a salad.

Eaton's Vista restaurant was on the second floor, at the northwest corner of the store, overlooking the mall where there was a fountain. In the evenings, the Vista featured all-you-can-eat buffet, which included roast beef.

I sometimes visited it on a Friday for dinner. I seem to remember that Eaton's restaurant was later renamed "The Loft," but I cannot find any proof of this. Memory sometimes plays strange tricks.

Though Yorkdale was located quite a distance north of the downtown, it was connected by several arterial roadways—Highway 401, Wilson Avenue, and Dufferin Street.

Market research conducted by Eaton's had shown that the mall was likely to attract shoppers from within a 30-minute drive. This meant that people as far away as Brampton and Whitby could easily drive to Yorkdale, as well as those living north of Bloor Street.

This was a potential market of almost a million shoppers. In 1966, the location became even more advantageous when the interchange at the Allen Expressway and the 401 was completed, and in January 1978, when the mall was connected to the University/Yonge subway line.

The architect of the Yorkdale Mall and the Eaton's Store was John Graham Consultants. The store Graham created for Eaton's had a striking exterior, with off-white bricks containing three-dimensional patterns that accented the vertical elements of the design.

Another added feature of the plaza was the underground truck tunnel that delivered goods to the retail outlets. The gigantic Dominion Store featured an underground conveyor belt that delivered customers' purchases to a station in the south-west parking lot, where they could pick up their groceries.

yorkdale shopping centre

Aerial view of Yorkdale in 1989, looking toward the the northwest. The Eaton’s and Simpsons stores are visible, as well as the 1984 extension added to the plaza. Toronto Public Library, tspa 0014664.

John B. Parkin Associates were hired to design the Simpsons store, the architect within the firm who was assigned the work being John Andrews, a Harvard-educated Australian.

During the years ahead, Andrews opened his own firm and won the contracts for the University of Toronto's Scarborough Campus and the CN Tower.

I recall attending Boxing Day sales at Yorkdale during the 1970s; I visited early in the morning to avoid the enormous crowds, even though compared to today, they were considerably smaller.

Yorkdale was where I first experienced the frustration of losing my automobile in a parking lot. I soon learned to memorize the row or section number where it was located.

During the 1980s, I visited the mall to attend the Yorkdale Antique Market. It was usually held each February and continued consecutively for three or four years.

It was a large display, which fully occupied all of the "L"-shaped space. The mall also held fashion and automobile shows.

On frigid winter days, for exercise, I drove to the mall in the early morning to walk within the enclosed area. When the shops opened, I enjoyed a coffee and then drove home.

yorkdale shopping centre

Yorkdale after the new section opened in 1984. Toronto Public Library, 0014662.

In 1984, Yorkdale was expanded by an additional 153,000 square feet, with 75 new stores, at a cost of $14 million.

In 1991, Sears Department store opened in the plaza. In 1999, the Rainforest Cafe began serving food in a tropical atmosphere (it closed in 2014).

In 2012, an addition was erected on the southwest side of Yorkdale. It included a relocated and expanded Holt Renfrew Store, situated where the Dominion store had been.

In 2015, the Sears Store on the west side of the plaza was demolished and replaced with the 70,000 square-foot Restoration Hardware, which opened in 2017. It resembled an impressive mansion with indoor and outdoor shops, a courtyard cafe and rooftop conservatory/park.

In 2016, another section was built on the east side, with a Nordtrom Department Store, Uniqlo, as well as 30 more retailers.

yorkdale shopping centre

Williams Sonoma was one of the shops that opened during the 2016 expansion. Photo by Hector Vasquez.

In 2017, the The Cheesecake Factory restaurant commenced operation. More expansions have continued since.

Visiting Yorkdale in recent times, I lament the loss of the fountains and the large trees, particularly the palm trees. However, I thought that the massive skylights in the ceilings of the new sections were amazing.

Creative in design, they allow plenteous daylight to enter the interior walking areas. In some instances, I felt I was strolling up the nave of a great cathedral.

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