10 Wilby sales going well

10 Wilby Crescent – artists concept.

The Humber, a 22-storey condo under construction at 10 Wilby is now 40% sold according to Options For Homes’ latest newsletter. Demand for parking spaces has exceeded supply (from the original 131) and OFH is planning to add another level of underground parking in response. This entirely non-smoking, (vaping allowed), building should be ready by 2021 or 2022.

OFH is offering a $500 reward to anyone referring someone who goes on to purchase a home in The Humber. Find out more here or in the latest OFH newsletter here.

Incidentally, OFH has some great information on their site about the amenities here in Weston.

Welcome to Weston Videos

I was away for a while last month and missed these two excellent videos on Weston produced by Options for Homes. OFH is currently building a condo on the banks of the Humber at 10 Wilby Crescent.

Both videos feature Squibb’s Stationers owner (and Weston Village Residents’ Association Communications Director), Suri Weinberg-Linsky talking about Weston and promoting it as a place to live.

Here they are in one convenient spot.


 

Rents rising in Weston, Mount Dennis.

According to the Canada Mortgage and Housing Corporation, Toronto’s apartment rental costs increased substantially between 2012 and 2017, particularly in the Weston and Mount Dennis area. The Toronto Star has used CMHC data in an interactive map which shows that Weston’s rental prices jumped nearly 18% during that time period while Mount Dennis prices increased by 27.8%.

In 2012, apartment rental averages in both neighbourhoods were roughly comparable at around the $1000 level but by 2017, rentals jumped to $1117 in Weston and $1201 in Mount Dennis. While this is still low compared to downtown where rents average over $2200, it will be of little comfort to people who come to the suburbs looking for more affordable accommodation.

The average annual rent increase over that period (thanks to the power of compound interest) seems to have been about 2.5% for Weston and 4% for Mount Dennis. Under Ontario’s rent control legislation, the average yearly rent increase over that period should have been 1.68%. Why the discrepancy? Once a tenant moves out, landlords can charge whatever the market will bear. In areas with more turnover, rents can rise rapidly if there is sufficient demand.

From the Toronto Star.

Premier Ford recently legislated the end of rent controls on all new rental buildings occupied after November 15th. He apparently believes that this will encourage more rental apartment construction. Incidentally, PC Premier Mike Harris ended rent control in 1997 claiming that a boom in rental housing construction would result.

It didn’t.

In praise of gentrification

Me, I’d delight in a little gentrification in Weston.

Riley says that gentrification is “the displacement of longtime residents of a neighbourhood”.

I disagree. Gentrification doesn’t have to result in the displacement of long-time residents, if ‘gentrification’ means an increase in average incomes within a neighbourhood through migration. Gentrification can open more services and shops, and bring employment opportunities, while doing absolutely no harm.

For a thorough explanation, have a look at The Economist article that changed my mind. In short, though: things can get better for everyone without getting worse for anyone—as long as the development is taking up slack.

Here’s how it works: new buildings go up in vacant spaces, and new shops open in empty storefronts. Nobody loses and everybody wins. Average rents might go up, certainly—but that is because there are more high-rent units, not because the low-rent units got more expensive. Average income will go up—because more high-income people are moving in, not because low-income people are moving out.

This is exactly what I think is happening now in Weston.

Does Weston have vacant spaces? It does, and all the recent developments I can think  of are on formerly vacant land. Do we have empty storefronts? We certainly do. A few bank storefronts come to mind. I’d love to see an art gallery, a childcare, or brew pub go in one. If it means I can stumble home after a three pints of IPA and a pork-belly sandwich, gentrify on, my good man!

Everybody wins with this kind of gentrification. New residents live close to where they work, new businesses provide services where people live. Neighbourhoods become vibrant, more pedestrian friendly, more integrated and more self-sufficient. This sounds just great to me.

But it gets better: Even those who live in affordable homes benefit. Crime falls in gentrifying neighbourhoods. Tax collection rises, so public services can improve. The concentration of poverty “which a mountain of economic and sociological literature has linked to all manner of poor outcomes, including teenage pregnancy, incarceration and early death” declines.

Could rising rents result in people leaving Weston? Certainly it could, if the increase comes not from rising average rents but from rising rents at the lower end. I think, though, that we remain some way from that.

In the meantime, I’m entirely in favour.

 

 

Jennifer Keesmat in Weston

Jennifer Keesmat, mayoral candidate and Toronto’s former city planner, visited Weston this weekend, and hung out with our NDP MPP Faisal Hassan. She also met Chiara Padovani, who hopes to become our city councillor.

Keesmat with Hassan and Padovani

Is this the start of an allegiance? I’m tempted to enquire, but it’s one of those questions I don’t really want an answer to.

Your correspondent has heretofore not been a Keesmat supporter, because he has a long memory and will not forgive her for shoehorning a 29-storey tower into 22 John St, and (incorrectly) papering the decision with the tall building guidelines.

But this is an enchanting possibility: a sharp left turn, a unified front, and a clean break. I’m not yet in favour, but I could be.

The Humber condos to launch in September.

10 Wilby Crescent – artists concept.

The long awaited condo apartment building at 10 Wilby being built by Options For Homes will be launched to the public next month, OFH announced yesterday. The Wilby Crescent condo, aka, The Humber, will have 22 storeys and thanks to a no-frills design and its unique financing scheme, purchasing will be a more affordable option for people looking to buy a home. OFH is also touting the advantages of the location which includes convenient access to schools, extensive parkland, proximity to the GO / UP Express and south west views of the Humber and Raymore Park. Prices start at $350,000

Read more about The Humber from OFH’s newsletter here and from their site here.

Council pauses gas bar at 1391 Weston

City Council has temporarily refused the building permit for 1391 Weston Road. The owners of the property are asking to build a gas bar on the site, and to knock down the odd, round building.

Staff said they needed to investigate and negotiate:

  • “The appropriateness of the proposed use in this location;
  • Traffic impacts of the proposed development;
  • The design of the proposed commercial kiosk…
  • The loss of trees and limited amount of landscaping proposed;
  • Whether there is adequate space to accommodate internal vehicle movements.”