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This month’s industry updates highlight the latest developments in housing, public art, and professional growth opportunities in the Greater Golden Horseshoe. From a rebound in GTA home sales to record-low new condo sales, the shifting real estate scene continues to capture attention. Meanwhile, Brampton’s new library project and Indigenous-focused public art call reflect ongoing efforts to improve community spaces. With events like the Building Industry and Land Development Association‘s (BILD) Chair’s Dinner and workshops on energy efficiency and leadership skills, industry professionals have ample opportunities to network, learn, and engage in discussions shaping the future of the region.
Announcements
GTA Real Estate Activity Rebounds with Lower Interest Rates
The GTA housing market showed renewed momentum in the final months of 2024, supported by declining interest rates and easing mortgage rules. According to Royal LePage’s Q4 2024 Home Price Update & Market Forecast, the aggregate home price rose 2.3% year-over-year to $1,149,300, while single-family detached homes saw a 3.9% increase to $1,427,500. Looking ahead, Royal LePage forecasts a 5% rise in aggregate home prices by the fourth quarter of 2025, with affordability expected to be a major focus in this year’s federal election.
GTHA New Condo Sales Hit Lowest Level Since 1996
New condominium sales in the Greater Toronto and Hamilton Area (GTHA) fell to their lowest level in nearly three decades, according to Urbanation’s 2024 market report. The region recorded just 4,590 sales in 2024, marking a 64% drop from 2023 and a 78% decline compared to the 10-year average. High interest rates, rising construction costs, and increased inventory in the resale market have deterred pre-construction buyers, with the fourth quarter’s 12% sales increase still representing the weakest Q4 since 1993.
Brampton Seeks Indigenous Artists for Century Gardens Youth Hub Public Art
The City of Brampton, in collaboration with STEPS Public Art, is inviting Indigenous-identifying artists or artist groups from Ontario to submit Expressions of Interest (EOI) for a public art installation at the Century Gardens Youth Hub. The project aims to reflect the aspirations and creative energy of Brampton’s youth while offering professional development opportunities for Indigenous artists. With a $150,000 budget, the selected artist will design and install a community-driven artwork, incorporating input from local youth.
Howden Recreation Centre Revitalization to Include New Brampton Library Branch
The City of Brampton has approved the addition of a new Brampton Library branch as part of the Howden Recreation Centre revitalization project. The library will serve as a modern, multi-use community hub, providing access to educational resources, cultural programming, and welcoming spaces for residents in southeast Brampton. This initiative aligns with Brampton’s Parks and Recreation Master Plan and broader efforts to expand recreational infrastructure.
TRREB Launches Fair Taxes Campaign to Address Housing Affordability Crisis
The Toronto Regional Real Estate Board (TRREB) has launched the Fair Taxes on Ontario Homes campaign, calling for immediate action to reduce taxes and ease the housing affordability crisis. According to a recent Ipsos poll, 72% of young Ontarians plan to leave the Greater Toronto Area within five years due to rising housing costs, with 75% of respondents believing future generations will face a lower quality of life. TRREB’s campaign urges all levels of government to cut development charges, reform the land transfer tax, and review municipal taxation policies to unlock supply and make homeownership more attainable.
Events & Awards
Winter Stations Returns to Woodbine Beach with Six New Art Installations
The annual Winter Stations competition is set to unveil six new interactive installations at Woodbine Beach on February 17, 2025. Now in its 11th year, the event invites artists and designers from around the world to transform Toronto’s lifeguard stations into immersive public art pieces that engage visitors while blending with the natural environment. This year’s installations will be revealed during a walking tour with the artist teams, as well as Councillor Brad Bradford of Ward 19 and Dakota Wares-Tani of RAW Design.
Emerging Leaders Seminar to Focus on Leadership and Mentorship
Building Owners and Managers Association (BOMA) Toronto‘s Emerging Leaders Professional Development Seminar on February 20, 2025, will offer insights into key leadership skills, mentorship, and talent attraction strategies for business success. Held at Arcadian Court in Downtown Toronto, the hybrid event will feature industry experts discussing transferable soft skills. Attendees will have the opportunity to engage with panellists and network, with registration free for members and $75 plus HST for non-members.
Workshop on Energy Efficiency and Low-Carbon Strategies Kicks Off Building Performance Series
The first session of the Building Performance Series, Roadmaps to Energy Efficiency and Low Carbon, will take place online on February 25, 2025. This workshop will provide tools and strategies to help participants create energy management plans, highlighting successful examples from industry leaders and available incentive programs. Featuring Stephen Dixon of TdS Dixon Inc. and Michael Parent of Technosim Inc., the free session is open to both members and non-members.
BILD Chair’s Dinner to Celebrate Industry Leaders and Achievements
BILD’s annual Chair’s Dinner, the organization’s first major event of 2025, will be held on March 4 at Bellvue Manor in Concord. The evening will bring together 400 industry professionals, senior leaders, and municipal guests for networking and recognition of notable contributions. Highlights include a keynote address from BILD Chair Katy Schofield, the announcement of 2024 Associate Award winners, and special honours such as the Member of the Year and Chair’s Award of Merit.
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