The $1.3 billion fund that wants unsold condominiums
High Art Capital recently announced the launch of a new fund called the Greater Toronto Area (GTA) Rental and Affordable Housing Initiative. It has been anchored by a $300 million mezzanine debt commitment (and a "nominal equity investment") from the Building Ontario Fund (BOF) and is expected to be capitalized in total with a minimum of $1.3 billion. The objective is to acquire approximately 2,200 rental homes in blocks within newly completed, unsold condominiums across the GTA and convert t...
The $1.3 billion fund that wants unsold condominiums
High Art Capital recently announced the launch of a new fund called the Greater Toronto Area (GTA) Rental and Affordable Housing Initiative. It has been anchored by a $300 million mezzanine debt commitment (and a "nominal equity investment") from the Building Ontario Fund (BOF) and is expected to be capitalized in total with a minimum of $1.3 billion. The objective is to acquire approximately 2,200 rental homes in blocks within newly completed, unsold condominiums across the GTA and convert t...
In Paris, the bike beat the car
Within a week, Paris will know, with near certainty, who its next mayor will be. (The first round of results will be announced this evening.) The two frontrunners are Emmanuel Grégoire (on the left) and Rachida Dati (on the right). Grégoire is the status quo vote, and Dati is the "I want change" vote. From a city-building standpoint, one of the ways that this is being presented is as a battle between bikes and cars. Not surprisingly, the current mobility approach has been criticized for creat...
In Paris, the bike beat the car
Within a week, Paris will know, with near certainty, who its next mayor will be. (The first round of results will be announced this evening.) The two frontrunners are Emmanuel Grégoire (on the left) and Rachida Dati (on the right). Grégoire is the status quo vote, and Dati is the "I want change" vote. From a city-building standpoint, one of the ways that this is being presented is as a battle between bikes and cars. Not surprisingly, the current mobility approach has been criticized for creat...
The Dubai shock
It is worth reiterating that one of the main reasons the majority of people live in cities is because they would like to make money and improve their economic status. There are, of course, other reasons too, but making money is an enduring attractor. In Alain Bertaud's book, Order Without Design: How Markets Shape Cities, he famously argued that cities are, first and foremost, labour markets. Because of this, the success of cities depends on their ability to harness talent and turn it into ec...
The Dubai shock
It is worth reiterating that one of the main reasons the majority of people live in cities is because they would like to make money and improve their economic status. There are, of course, other reasons too, but making money is an enduring attractor. In Alain Bertaud's book, Order Without Design: How Markets Shape Cities, he famously argued that cities are, first and foremost, labour markets. Because of this, the success of cities depends on their ability to harness talent and turn it into ec...
Singapore's Build-to-Order housing model
It is well known that the majority of Singaporeans live in public housing (that is, housing provided by the Housing and Development Board, or HDB). However, what you may not know is that the majority of residents obtain their housing through a model that shares some high-level similarities with the way we deliver new condominiums in Toronto. In 2001, the HDB introduced a program known as Build-to-Order (BTO). The way it works is fairly straightforward: the HDB announces a new project, prospec...
Singapore's Build-to-Order housing model
It is well known that the majority of Singaporeans live in public housing (that is, housing provided by the Housing and Development Board, or HDB). However, what you may not know is that the majority of residents obtain their housing through a model that shares some high-level similarities with the way we deliver new condominiums in Toronto. In 2001, the HDB introduced a program known as Build-to-Order (BTO). The way it works is fairly straightforward: the HDB announces a new project, prospec...
What your grocery store might say about your home value
After this post, I promise to stop continually plugging the work and writing of Aziz Sunderji — at least for a few days. Over the weekend, I wrote about his recent post on happiness in America. Today, his latest post is about what happens to home prices after a particular grocery store opens. And for this, he looked at 32,000 store openings dating back to the mid-1970s and then compared them to ZIP-code-level home price data. Here's what he found:The average Walmart neighbourhood in this stud...
What your grocery store might say about your home value
After this post, I promise to stop continually plugging the work and writing of Aziz Sunderji — at least for a few days. Over the weekend, I wrote about his recent post on happiness in America. Today, his latest post is about what happens to home prices after a particular grocery store opens. And for this, he looked at 32,000 store openings dating back to the mid-1970s and then compared them to ZIP-code-level home price data. Here's what he found:The average Walmart neighbourhood in this stud...
