4 things you need to know before the end of the week
By Sam R on Aug 23, 2016
The week is about halfway done, but I feel like so much has happened across the Greater Toronto Area (GTA). Instead of focusing on one topic this week, I’m highlighting four bits of news that you need to know before the weekend comes.
1) The average price of new low-rise homes in the GTA hit another record high
This summer meant breaking more than heat records — Toronto topped itself yet again with housing prices. The Building Industry and Land Development Association (BILD) says the average prices of detached, semi-detached and townhomes were up more than $100,000 on average over the last 12 months.
New low-rise homes averaged $906,508 in the GTA, up 12%; high-rises were up too, with the average price now $475,764, up 7%. A lot of that is due to low supply caused by provincial intensification policies, delays in the approvals process and a lack of serviced developable land, according to BILD CEO Bryan Tuckey.
The supply of new homes decreased 41% from 10 years ago, with 17,213 new homes available compared to 29,238. Sales of new homes and condos from January to July numbered 28,208, the highest we’ve been in 10 years. High-rise units accounted for a record 15,852 sales, up 36% from the 10-year average.
2) A new car-share service is coming to the GTA
With all the options available for getting around town, one thing non-drivers have lacked is a good way to get out of town. That may change, with ride startup OpenRide targeting 400-series highways and country roads.
The Toronto Star reports that the Kingston- and LA-based startup is now beta testing inter-city ride sharing. There are already dozens of drivers on its website, mostly in the U.S. They’re not after Uber or Lyft’s in-the-core marketshare, according to co-founder Owen Scott, an Ottawa native now based in LA.
Although not yet in the GTA, Scott says the GTA is one of North America’s most lucrative possibilities. “You have Kitchener, Waterloo, Kingston — all those towns out there that are relatively poorly served by both train and bus transit,” Scott told the Star.
A report issued by the Ministry of Transportation in June promised new regulations to encourage innovative small-vehicle services while balancing safety rules. OpenRide uses a cost-per-mile rate set by the US Department of Transportation to set guidelines, although drivers are allowed to set their own prices. The distinction could come in handy in Ontario, where for-profits transporting passengers across municipal boundaries require special licensing.
Founder Scott says the company philosophy is about more than just ticking off miles. “The big thing we want to do is we want it to be about more than a commercial exchange, but also a fun thing to do...Like, you’d rather go on OpenRide to get a cool person to chat with you for four hours in your car than drive alone,” he told the Star.
Besides those who don’t drive or can’t afford Zipcar or similar rentals, it’s a great option for those who just don’t need a car in the daily lives but do need to get beyond the reach of the TTC from time to time. Anything that helps take cars off city streets is OK by me.
3) Toronto will receive $500 million for transit infrastructure
The federal government announced yesterday it would spend $1.49 billion on new transit infrastructure, including new vehicles and upgraded stations; it’s the first phase of a $60 billion plan to pay for projects across Canada in the next decade.
Of this first injection, about $500 million is targeted for Toronto, $156 million for Ottawa, and a further $30.6 million for Waterloo, Barrie and Sudbury combined. Toronto’s share will go to bridge repairs, a subway yard upgrade, a fire main replacement at Wilson Yard and upgrades to buses and streetcars.
The feds have been pushing to spend the money quickly according to CBC, so as not to miss construction season, but have been held up by provincial delays in finalizing wishlists. Provinces must fund half their funding wishes before Ottawa begins distribution.
4) The Ex is now open!
The Ex is now open, which to me always signifies the waning dog days of summer. The Toronto institution still fills me with memories at every sniff of a corn dog or call of a barker. Monday through Thursday, admission is $6 after 5 pm.
This year’s attractions include Paleo World for the kids, Barney and various character meet and greets on the kids’ stage at Kids’ World, pizza making, historical lectures, SuperDog competitions, competitive parkour demos, water skiing shows, the XPogo stunt team, the Trews and Glass Tiger’s Alan Frew among the acts at the Bandshell and, of course, the midway. It isn’t the same since the Appian Way shut down, but it’s still a great way to spend a day relishing our city.
