Canada’s cool climate is yielding to hot markets, attracting buyers from around the world.
Agents showing Canadian real estate agree that areas such as Cambridge, Central Toronto, Nova Scotia, and Downtown Montreal and are appealing to buyers and families from all over the world. Their proximity to accommodating cities and the suburban feel are attracting a plethora of buyers, and these regions are only expected to grow.
Attracting buyers to the province of Nova Scotia, Mariana Cowan of Coldwell Banker Supercity speaks to the area’s growth. “With 878 parks, 33 beaches, 532 trails and pathways, universities, research and development, Nova Scotia is a great place to invest. Sales in July 2018 were the best they’ve been in six years,” she says.
Amy Assaad of Royal LePage Heritage in the Downtown Montreal and Westmount area explains that buyers there do not necessarily fit into a specific demographic. “Many properties are within walking distance to Mount Royal, but are also close in proximity to the city,” says Assaad. The variety of opportunities are attracting “many local buyers and foreigners, especially from the United States,” she says.
For Assaad, a considerable draw for buyers is The Golden Square Mile, which has been compared to New York City’s 5th Avenue. “The Golden Square Mile offers fine art museums, 5-star restaurants, endless shopping, and Mount Royal,” she says. In Cowan’s province, “You can have the seaside lifestyle that Nova Scotia is famous for, and be within minutes of our capital city of Halifax,” according to Cowan. Assaad also explains how growth is in the future. “The architecture in the area is already beautiful, and it will continue to increase in value,” she says.
With a slightly different view, Susan Macarz of RE/MAX Ultimate Realty Toronto, Ontario contends that those buying Canadian real estate do fit into a certain demographic. “Most are successful in business, whether immigrating or moving up.” Although that does not limit those suited to buy in the area. Buyers hailing from a diverse range of cultures come seeking financial independence, according to Macarz.
“Buyers come from all over the globe,” Macarz says, without neglecting her local clients. “There are also many Torontonians that are moving up and desire a country home, or a larger home for their family,” she says.
Steve Bailey of RE/MAX Real Estate Center in Cambridge, Ontario also notes that the diversity among buyers is a selling point, especially for those coming from the Greater Toronto Area. “I think what it really boils down to is that all of these cities are great places to live, work and raise a family. Each is a diverse and thriving community with a unique blend of urban and rural areas,” he says.
Similar to Assaad and Macarz, Bailey agrees that the area accommodates many different types of buyers. “We have a lot of manufacturing locally, which supports many of the families we have in the region. And we have a lot of professionals who commute out of the city,” says Bailey. “It really creates a wonderful blend of people and personalities.”
Photos courtesy of Steve Bailey. Rendering courtesy of Amy Assaad
This originally appeared in Unique Homes Fall ’18
Headshot image courtesy of Malcolm Crowther
British architect Will Alsop recently passed away at the age of 70, leaving behind a legacy that encapsulated a variety of architectural styles throughout Britain and Canada. According to his studio’s website, all Design, Alsop’s core values were innovation, expression and originality with an emphasis on enjoyment, to ultimately “make life better” by designing individual buildings or spaces that embrace broader principles of urbanism and city development. To further this philosophy, he often used painting, writing and “playing” to further an understanding of design.
In cities like Toronto, London, and Hamburg, many projects completed by Alsop can be defined through colorful and striking details that both stood out and completed the surrounding community. Below we’ve listed several of his projects that emphasized his values.
North Greenwich, Finch West and Pioneer Village Stations
Alsop partnered with John Lyall and Jan Störmer in 1999 to complete the North Greenwich station of the London Underground. This station boasts a tiled interior with striking cobalt-blue columns, inspired by the design of Mass Transit Railway stations in Hong Kong.
The architect also had a hand in several stations “across the pond” in Toronto, Canada. While the Pioneer Village station features irregularly-shaped chandeliers and a dramatic outdoor canopy, the Finch West station is, by contrast, “a happy assemblage of brightly coloured glass panels,” according to Simon Lewsen of Azure Magazine.
Courtesy Jason Paris
Courtesy Mike Knell
Courtesy Wikimedia Commons
Sharp Centre for Design, OCAD University, Toronto
Alsop’s design for OCAD University’s Sharp Centre features a large checkerboard slab centered above a school building atop tilted, multi-colored pillars. The $42.5 million expansion and redevelopment received numerous awards, including the first Royal Institute of British Architects Worldwide Award, the award of excellence in the “Building in Context” category at the Toronto Architecture and Urban Design Awards, and further redefined the university and the surrounding neighborhood.
Peckham Library, London
Opening in 2000, the Peckham Library in south-east London features pre-patinated copper and is shaped like an upside-down capital L. The top section of the structure, an elevated reading room expertly set above the noise of the street, is supported by slender steel pillars set at different angles. Winning the Stirling Prize for Architecture that year, Peckham Library was the project that heralded Alsop as an iconic architect.
Working to develop urban areas around the country is based on focusing on and improving the lives of residents for future years to come. To emphasize these goals, many developments are implementing sustainability methods in design and architecture to benefit the surrounding community and inhabitants.
Urby — Staten Island, NY
Located on the North Shore waterfront, Staten Island Urby is the largest new-construction development in Staten Island that offers specially curated social spaces that encourage natural opportunities for neighbors to meet and interact, including an urban farm featuring farmer-in-residence, Zaro Bates.
The 5,000-square-foot farm is the first commercial farm to be incorporated into an urban residential development. The farm grows over 50 varieties of produce across 5 major categories: greens, summer vegetables, flowers, herbs and roots. The farmers offer workshops to the community and residents including a fermentation series, growing your own herbs and microgreens, and bee-keeping workshops. Produce from the farm is used by the residents, served in the kitchen and sold at a weekly farmer’s market. Zaro’s business partner, Asher Landes, oversees the apiary, which encompasses 20 beehives on the roof of Urby that produce honey.
Photos courtesy of Ewout Huibers
Residence 2680 – San Francisco, CA
Located in the prestigious Pacific Heights neighborhood, Residence 2680 is the largest single-family home renovation that is built to Passive House standards with Home Platinum LEED certification in San Francisco. Developed by Troon Pacific and built to strict sustainability standards, naturally sourced, low-chemical producing materials like wood, stone and glass were incorporated throughout the home.
“We believe in the inspirational power of natural beauty and use principles of biophilic design throughout our homes to uplift our spirits and enhance health and wellness in the urban environment,” says Gregory Malin, CEO of Troon Pacific. Gregory Malin.
With mental and physical wellness in mind, Troon Pacific incorporates a variety of design features, such as Zen wellness gardens, retractable skylights to provide natural ventilation and clean air, rain chains for natural water filtration, landscaped roof decks, saunas, steam rooms and more.
Photo courtesy Troon Pacific.
570 Broome — SoHo, NY
570 Broome is a new 54-unit luxury boutique condominium that is the latest addition to Hudson Square, which has become a highly sought-after residential neighborhood and go-to destination for retailers, restaurants and businesses.
The material used to build the condominium is a result of a new collaboration between sintered stone slabs and Pureti, an aqueous and titanium dioxide nanoparticle-based treatment. This treatment on the surface of the building is activated through light energy to transform the moisture in the air into oxidizing agents, which destroy pollution-causing particles. For 570 Broome, this equates to taking 2,000 cars off the road for a year or the purifying power of 500 trees.
The overall architectural design references the area’s history through the large framed windows, along with the building’s silhouette evocative of staggered cubes.
Photos courtesy Builtd.
Manitoba Hydro Place — Winnipeg, Canada
Manitoba Hydro Place offers a fully integrated design that capitalizes on Winnipeg’s abundance of sunshine and gusting winds to harness solar and wind energies. The capital “A” form of the tower comprises two wings fused at the north and splayed open to the south. This opening is filled with three, six-story stacked atria or winter gardens that act as the lungs of the building as well as 78-foot waterfalls that humidify/dehumidify incoming air.
The design is 80-percent more efficient than conventional Winnipeg buildings, making it the third most energy-efficient, large scale building in the world. It is also the first large-scale office tower in North America to be LEED Platinum-certified.
Photo courtesy Gerry Kopelow.
Market Square — San Francisco, CA
Market Square, a Gold LEED-certified project, was designed by BCV Architecture + Interiors with sustainability and community in mind. The two-building project transformed the dark, outdated and unused space into a cohesive part of its Mid-Market San Francisco neighborhood.
Natural and recycled materials, including reclaimed wood from one of the building’s earlier additions, are used throughout. Market Square merges state-of-the-art office space with an integrated ground floor community featuring the best of San Francisco’s food and retail purveyors. BCV Architecture + Interiors view sustainability through a myriad of lenses and considers the ethical, cultural, social, economic and historical implication of a project in addition to the technical solutions.
Photo courtesy Bruce Damonte.
12 Warren — Tribeca, NY
12 Warren is a boutique residential condominium nestled in Tribeca developed, designed and constructed by DDG. This development features a hand-laid façade and is an impressive addition to one of Manhattan’s most desired residential neighborhoods.
12 Warren is specifically designed with NYC Energy Code compliance and LEED certification in mind, targeting a Silver level LEED certification. Additional components include a green roof system, accommodating alternative transportation storage, stormwater collection and reuse, reduction of heat island effect with concrete, light grey toned pavers and landscaping elements, construction waste management and secondary tenant-controlled heating elements to reduce overall energy and electrical output. By choosing native and local materials, such as Bluestone from upstate New York, something close to home and natural, helped ensure more sustainable building practices.
Top left photo courtesy of Bruce Damonte. Top and bottom right photo courtesy Robert Granoff.
Overlooking the beautiful countryside in Calgary, Alberta Canada, this exquisitely appointed country estate home sits majestically atop an escarpment with views of the Rocky Mountains.
“This home feels like an English country manor where family royals escape to relax in the warmth of magnificent space,” says Rachelle Starnes of The Starnes Group with Coldwell Banker Complete Real Estate who is listed the property.
Features include over 9,000 developed square feet, 6 bedrooms, 6 baths, an art gallery central hall, intricately designed iron staircase railings, walnut flooring, a living room with a central wood-burning fireplace, a custom kitchen with a breakfast nook, floor-to-ceiling windows, a six-diamond master wing covering the entire upper west side and a main-floor guest room.
The home, listed for $3.575 CDN, also features a lower level with a media room, bar area, wine cellar and exercise room.
“This property is perfect for those who seek refinement in a country setting,” says Starnes.
Offering an Idyllic lifestyle in a private setting, this luxury home in Mono, Ontario, Canada is surrounded by trails, a forest, meadows, outstanding views and outbuildings for a winning combination.
“Set way back from the road with a heated shop and barns, this property is capable of being home to not only to your family, but your dreams as well — horses, cars, yoga, dogs, painting or a wellness center,” says listing agent Sarah Lunn of Coldwell Banker Ronan Realty.
Listed for $1.599 million, the lavish stone, 5,256-square-foot bungalow features five bedrooms, four baths, multiple walk outs and a two-car detached heated garage with an office for the ultimate in versatility.
“The open concept style, soaring ceilings and views from every window make this home stand out from the rest,” says Lunn. “Just bring your dreams and this property will make it a reality.”
Michele Cummins
RE/MAX Little Oak Realty
33119 1st Avenue, Mission, BC V2V 1G5
O. 604.820.0555 | C. 778.885.4659 | cumminsrealestategroup@gmail.com | www.michelecummins.ca
Michele brings a fresh perspective and an energy to the home buying and selling process because she takes the time to understand people’s needs, and then can translate that to getting the most out of the real estate market. Michele’s pace is quick and her work ethic proven. She focuses on her clients and getting the most out of the real estate market for them. She pushes hard for their satisfaction in the house they are buying or selling, as well as maximizing their money. It’s a passion of Michele’s to know that her clients are happy and their needs are met completely. This is crucial to her success — and what drives her to work so hard! Michele believes that the home is what gives people balance in their lives, and creates their futures.
Featured Listing by Michele Cummins
AGASSIZ, BRITISH COLUMBIA, CANADA
Harrison Hot Springs
This gorgeous 5.6-acre retreat is perfect for day-to-day living or as the ultimate vacation spot just 2 hours from Vancouver. Enjoy breathtaking views from your 4,800-square-foot waterfront home with soaring vaulted ceilings, a gourmet chef’s country kitchen and world-class fishing.
$1,350,000.
Michele Cummins originally appeared as an Elite agent in the Unique Homes Spring ’18: Elite edition. See her page here.
Leslie Cannon
RE/MAX Crest Realty
1428 West 7th Avenue, Vancouver, BC, Canada V6H 1C1
604.790.6624 | Leslie@LeslieCannon.com | www.LeslieCannon.com
Leslie Cannon is an award-winning Certified Luxury Home Marketing Specialist who provides a superior level of service in assisting high-profile clients buy and sell luxury homes and condominiums in Vancouver, British Columbia, Canada. Her experience as a REALTOR® with a highly reputable brand in Vancouver for the past 15 years, in addition to her global expertise and business acumen earned through past sales and marketing roles, lends to her focus on service excellence and strategic negotiations for a wide range of clients and their real estate needs. Leslie welcomes your connection.
Featured Listing by Leslie Cannon
VANCOUVER, BRITISH COLUMBIA, CANADA
The Rosemary Manor
A stunning example of Vancouver’s history is evident in this 9,000-square-foot mansion situated on three-quarters of an acre. This 8-bedroom home has been beautifully updated.
$36,800,000 CAD
Leslie Cannon originally appeared as an Elite agent in the Unique Homes Spring ’18: Elite edition. See her page here.
Rappaport beat his own sales record with the $120 million off-market deal to Canadian billionaire developer Daryl Katz.
Westside Estate Agency co-founder and CEO Kurt Rappaport has sold his 7-bedroom Malibu mansion to Canadian billionaire Daryl Katz for $120 million. The home was designed by architectural designer Scott Mitchell, whose clients include Larry Ellison and Jeffrey Katzenberg.
The off-the-market deal, which closed on Friday, Feb. 9 according to the New York Post, had been rumored to be on the rocks in December, though neither Rappaport nor Katz would comment at the time on the nature of the alleged snafu, as The Real Deal reported.
Rappaport has broken his own record for selling the priciest home in Los Angeles — the previous record-holder was his $85 million sale of David Geffen’s Malibu estate, which he brokered last May.
The sale of his 15,000-square-foot home included everything inside the home, which is reported to include artwork by Damien Hirst, Ed Ruscha and Sterling Ruby. The house was rented out for $750,000 per month, and contains a private screening room, home gym and the longest pool in the state at 168 feet.
Katz is estimated to be worth just over $3 billion and owns the NHL franchise, the Edmonton Oilers. His wealth comes from managing pharmacy chains, including Rexall. However, now his company, Katz Group, has turned to real estate. The Katz Group is leading a more than $2 billion redevelopment project in Edmonton known as the ICE District and built a new arena for the Oilers in the city, according to Forbes.
Photo courtesy of Westside Estate Agency
Despite recent financial and economic adversity, Canada has become a real estate hot spot that entices both national and international buyers.
By Kristen Ordonez
This villa-inspired residence in Toronto’s Hoggs Hollow sold for $5.525 million. It offers ravine views and multiple walk-outs to an expansive slate terrace and pristine landscaped gardens.
Photo courtesy Barry Cohen
Buyers are continuing to invest in luxury Canadian real estate and making competition fierce, according to Broker Barry Cohen for RE/MAX Realtron in the Greater Toronto Area. Cohen, as well as other agents within Canada, affirm that the success of these markets are mainly due in part to foreign investors, particularly from mainland China.
“They are singularly focused on the quality of life,” Cohen states, focusing on family safety, top-rated schools and real estate opportunities focused on asset growth. Due to this heightened interest, development and rebuilding projects have changed as well. In-fill housing has become more prominent within Toronto and nearby areas in efforts to appeal to Chinese investors, to “satisfy their need for ‘the new’ and then build to the maximum amount they can,” Cohen says.
Sam McDadi, agent and sales representative for Sam McDadi Real Estate Inc., also finds that people are looking for real estate within the Greater Toronto Area more frequently after changes within the economy. “Our Canadian dollar has been devaluated in recent years, making our real estate even more attractive to foreign buyers,” said McDadi. Regardless of this, McDadi believes that there is a healthy equilibrium of supply and demand of luxury homes. “It’s a balanced market and there is enough inventory to satisfy luxury clienteles,” he says.
In general, these agents agree that the amenities are really what attract people to Canada. In Alberta, Mark Evernden, president of sales for Engel & Völkers Alberta, notes that the Rocky Mountain views and skiing tend to bring people to Calgary. He notes the resort town of Banff specifically, a global international destination that is known for hiking, camping and world-class ski resorts.
In Mississauga and Oakville, McDadi highlights a variety of community and cultural comforts that are present and entice potential buyers. Both cities offer world-class restaurants, vibrant art communities and living arts centers, and Lake Ontario. “Living in south Mississauga or Oakville allows homeowners the privilege of being in close proximity to Toronto, one of the cleanest and safest world-class cities in the world,” says McDadi.
Left: Offering a finished basement and a dream kitchen with a built-in wine cooler, this Oakville home sold for $2.39 million. Right: This dramatic $5.888 million home in Oakville recently sold, featuring 10,700 square feet, a Scarlett O’Hara-style staircase and a dining room with a 20-foot domed ceiling. Photos courtesy Sam McDadi
Earlier this year, the Ontario government implemented a 15-percent foreign buyer’s tax to “cool down” an inflated housing market in the Greater Toronto Area. This tax is similar to a 15-percent tax that was applied to the British Columbia housing market, mainly in the Metro Vancouver Area. Both measures were made in an effort to bring down housing prices for all. Prices and sales did drop slightly toward the end of 2016 and the second quarter of 2017, but eventually rose back up at a steadier pace, reflecting stable, healthy markets across the country.
According to The Royal LePage National House Price Composite, the price of a home in Canada increased 13.3 percent year over year in this third quarter. Along with this, the median prices of different housing options, from two-story homes to bungalows to condominiums, have grown between 9.5 to 15.2 percent.
In Alberta, Evernden opened his branch two and a half years ago to appeal to the luxury market. He notes that although resources have been depleting within the oil industry, the luxury division has rebounded and commercial leasing in the downtown market is running upwards. “We are in a stable position, and anticipation of [total] recovery won’t be for another year,” Evernden says.
In Mississauga and Oakville, the entry price point for a home is about $3 million, according to McDadi, and typically features about 4,500 square feet of living space. In the York Mills area of Toronto, Cohen notes that the average luxury home is priced between $7 million to $10 million with about 6,000 to 7,000 square feet. Within the Calgary market, a new home has a $1.5 million to $1.8 million average price point. Homes at the top of the spectrum offer even more, from the $25 million listing in Alberta with 2 private lakes to the $35 million listing from Barry Cohen with 30,000 square feet and a tennis court on the river’s edge.
This 7.85-acre gated estate in Kelowna, British Columbia, Canada is an entertainer’s dream and features two luxury residences and approximately two acres of vineyard planted in Gewurztraminer grapes, which is enough to supply nearly 1,000 bottles of wine.
“What makes this property unique is the private, gated, tree-lined driveway leading you to a park-like setting with your own private lake, playground, tennis court, outdoor living area and a dream workshop,” says listing agent Jane Hoffman of Coldwell Banker Horizon Realty. “It has a luxury country vibe.”
Listed for $5.498 million Canadian, the property also includes a saltwater pool, hot tub and a 4-car garage — all lending to the breathtaking views of the lake, city and valley.
The main 3-bedroom, 4-bath home is custom-designed and includes a two-tone granite island kitchen, main-floor master and a lower level with a recreation room with a granite wetbar, his and her offices, home theater room and play area. Additionally, there is a 3-bedroom guest residence perfect for visiting family and friends.
“This property is adaptable and flexible,” says Hoffman. “It could be perfect for empty nesters who like to entertain or a family looking for room to roam.”
