[ad_1]
\n<\/p>\n
This month\u2019s industry updates spotlight a range of challenges and initiatives shaping the development and housing sectors across the Greater Golden Horseshoe. While affordability has modestly improved due to lower borrowing costs and home prices, new home sales continue to underperform, with February marking the worst on record. Meanwhile, governments, industry associations, and private stakeholders are advancing efforts to modernize policy, promote sustainable design, and harness technologies like AI to drive construction and planning forward. Events in the coming weeks look to strengthen collaboration and innovation, from summits and webinars to awards celebrating excellence in the built environment.<\/p>\n
Toronto Approves Economic Action Plan to Counter Impact of U.S. Tariffs<\/a> Affordability Improves Modestly in GTA as Home Prices and Borrowing Costs Ease<\/a> Altus Group Releases 2025 Cost Guide as Construction Prices Stabilize in Most Markets<\/a> New Jackman Performance Centre Opens to Support Toronto\u2019s Arts and Housing Communities<\/a> Short Documentary Sheds Light on Parkdale\u2019s West Lodge Transformation<\/a> BILD Launches Public Advocacy Campaign Calling for HST and Development Charge Reform<\/a> GTA New Home Sales Hit Record Low for February, Down 84% from 10-Year Average<\/a> Brampton Opens Call for 2025 Urban Design Awards Jury and Submissions<\/a> Upcoming ORC Webinar to Explore AI\u2019s Role in Residential Construction<\/a> PM Springfest Returns April 24 with Focus on Smart Tech and Sustainability<\/a> BILD & OHBA Housing Summit 2025 to Address Policy, Costs, and Housing Supply<\/a> BOMA Toronto to Host Celebration of Excellence Gala on May 29<\/a> CREST Awards Info Session to Guide Applicants Through 2025 Submission Process<\/a> ***<\/p>\n Everyone from construction workers to brokers to real estate executives are encouraged to share news with us to be featured in our weekly updates. If you have some industry-related news to share, let us know by contacting us\u00a0here<\/a>.<\/p>\n<\/div>\n
Toronto City Council has adopted a 10-point Economic Action Plan to safeguard local businesses and workers in response to newly announced U.S. tariffs on Canadian goods and energy exports. Measures include revised procurement policies prioritizing Canadian suppliers, tax deferrals for industrial property owners, and new supports for local manufacturers. The plan also expands regional and federal partnerships to reduce reliance on U.S. supply chains and is accompanied by the City\u2019s new Love Local<\/em> campaign promoting Canadian-made goods and services.<\/p>\n
Homeownership became slightly more attainable in March 2025, with average home prices and borrowing costs both down compared to a year earlier, according to the Toronto Regional Real Estate Board<\/a> (TRREB). Despite improved affordability, home sales declined 23.1% year-over-year, as many buyers remained cautious amid ongoing trade tensions and pre-election uncertainty. Increased inventory\u2014up nearly 29%\u2014is giving prospective buyers more options and negotiating leverage, while further rate cuts are anticipated later this spring.<\/p>\n
Altus Group has published its 2025 Canadian Cost Guide, showing that construction cost increases have slowed across most regions and are now more closely aligned with general inflation. In Toronto and Ottawa, costs have even declined due to reduced building activity, though trade tensions, labour negotiations, and building code changes could influence future pricing. The annual guide, based on data from over 6,200 projects, is a resource for evaluating construction risks and budgeting across asset classes.<\/p>\n
The Nancy & Ed Jackman Performance Centre officially opened this March at 877 Yonge Street, offering an accessible new venue for Toronto\u2019s performing arts sector. Developed in partnership by Tapestry Opera, Nightwood Theatre, and St. Clare\u2019s Housing, the Centre brings performance, rehearsal, and community space to the lower level of a mixed-income housing development. Designed with affordability, inclusivity, and sustainability in mind, the facility will host theatre, opera, and multidisciplinary programming while supporting equity-deserving and independent artists through residencies and artist-focused initiatives.<\/p>\n
A new short film, West Lodge Redemption<\/em>, is drawing national attention for its portrayal of one of Toronto\u2019s most notorious apartment complexes. Directed by Parkdale resident and rising filmmaker Tasha Gray, the 8-minute documentary explores the transformation of West Lodge Apartments following their acquisition by Hazelview Properties in 2018. The film has been screened at several Canadian festivals and offers a resident\u2019s perspective on housing revitalization, community resilience, and the impact of thoughtful property management.<\/p>\n
The Building Industry and Land Development Association<\/a>\u00a0(BILD) has launched Homes for Canada<\/em>, a public-facing campaign urging provincial and federal governments to remove HST on new homes and modernize Ontario\u2019s Development Charges Act. Running across radio, digital, and social platforms until April 27, the campaign highlights how government fees now comprise 25% of the cost of a new home in the GTA, contributing to record unaffordability and outmigration. BILD argues that reducing or restructuring these costs could lower home prices by up to $200,000 and support much-needed housing growth in the region.<\/p>\n
New home sales in the GTA fell to historic lows in February, with only 400 units sold \u2013 marking the worst February on record, according to BILD and Altus Group<\/a>. Sales were down 50% from the previous year and 84% below the 10-year average, reflecting persistent affordability challenges and market uncertainty, including concerns over potential U.S. tariffs. Inventory levels rose slightly to nearly 22,000 units, while benchmark prices for both condominium apartments and single-family homes declined year-over-year.<\/p>\nEvents & Awards<\/h3>\n
The City of Brampton has launched its call for jury members and project submissions for the 2025 Brampton Urban Design Awards, celebrating contributions to the city\u2019s built environment. With the theme Density with Purpose<\/em>, the awards highlight sustainable, livable design strategies that support intentional growth. Submissions open April 14 and close June 9, with winners, including a People\u2019s Choice Award, set to be announced at a ceremony this October.<\/p>\n
The Ontario Home Builders’ Association<\/a>\u00a0(OHBA) and BILD members are invited to a free webinar on April 30 titled The AI Advantage<\/em>, focusing on how artificial intelligence is reshaping the homebuilding and renovation sectors. Featuring Navin Kaminoulu, the session will cover how AI tools can improve project timelines, cost management, client communication, and design personalization. The virtual event will provide practical guidance for builders and renovators looking to utilize AI in their operations.<\/p>\n
PM Springfest is set to take place on April 24 at the Metro Toronto Convention Centre, bringing together property managers and building owners for a half-day of focused programming. The event features sessions on decarbonization strategies, regulatory updates, and emerging technologies, complemented by an expo showcasing the latest in smart building systems and energy solutions. Attendees can also connect with peers and enjoy a VIP post-event cruise to close out the day.<\/p>\n
The BILD and OHBA Housing Summit, presented by Enbridge Gas, returns May 1 at Paramount Event Space in Woodbridge for a full day of discussion on housing affordability and policy reform. Highlights include a mayors\u2019 fireside chat, a political outlook by Strategy Corp.<\/a>, and panels on modernizing development charges and planning in Toronto. The event looks to equip builders and policymakers with actionable strategies to lower construction costs and broaden housing options across the province.<\/p>\n
BOMA Toronto\u2019s annual Celebration of Excellence Gala returns to the Fairmont Royal York on May 29, recognizing achievements in commercial real estate and property management. Awards will be presented in categories such as BOMA BEST, Pinnacle, and Earth Hour Challenge, with individual and team recognitions also featured. The evening includes a reception, dinner, and awards ceremony, offering attendees a chance to honour peers and celebrate industry leadership.<\/p>\n
BOMA Toronto is hosting a free online information session on June 4 to assist participants in preparing submissions for the 2025 CREST (Commercial Real Estate Sustainability Trailblazers) Awards. The webinar will outline key requirements, judging criteria, and tips for strengthening entries ahead of the September 9 awards event. This year\u2019s program also offers entrants the opportunity to compete nationally through the new BOMA Enspire Awards.\u00a0<\/p>\n