In this edition:
- 33-storey highrise proposed for downtown St. Catharines
- Niagara-on-the-Lake addresses Ontario Land Tribunal appeals on Mary Street development
- Ontario Land Tribunal allows 14-unit apartment building in downtown Welland
- Thorold stores selling alcohol for first time since 2009 LCBO closure
- Some Niagara rents drop for 1st time in more than 3 years
- Home Builders Association urges ongoing policy and interest rate adjustments to revive housing market
- Focus on Markets
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Image credit: Weston Consulting
33-storey highrise proposed for downtown St. Catharines
A 33-storey apartment building with 308 units is proposed for downtown St. Catharines near the Ontario-St. Paul streets intersection.
The city is holding an open house about the proposal, which requires a zoning bylaw amendment for two properties at 37 Ontario St. and 3 Ontario Ln. in order for it to go ahead.
Image credit: Town of Niagara-on-the-Lake
Niagara-on-the-Lake addresses Ontario Land Tribunal appeals on Mary Street development
At last night’s Committee of the Whole Planning Meeting, Niagara-on-the-Lake Council voted in favour of settling the appeal by approving the development proposal as recommended in a staff report. The applications propose a four-story, 41-unit apartment building, which requires an Official Plan Amendment and Zoning By-law Amendment.
Photo credit: Harold Stiver / Adobe Stock
Ontario Land Tribunal allows 14-unit apartment building in downtown Welland
Turning the historic Rose Block at the corner of West Main and Niagara streets in Welland into a 14-unit apartment building is in the “final permit stages” after the Ontario Land Tribunal overruled a committee of adjustment decision.
Photo credit: bodnarphoto / Adobe Stock
Thorold stores selling alcohol for first time since 2009 LCBO closure
Foodland on Thorold’s Pine Street is now selling alcohol, after the province’s recent relaxation of alcohol sales. An LCBO in the plaza on Pine St. S. closed down in 2009.
A provincial map identifies several convenience stores such as 7-Eleven and Avondale with licenses to sell alcohol as well.
Photo credit: Golib Tolibov / Adobe Stock
Some Niagara rents drop for 1st time in more than 3 years
The latest rental report from Rentals.ca and Urbanation showed across Canada overall rents for all rental types slid downward in October by 1.2 per cent, the first decline in more than three years.
Photo credit: Rawf8 / Adobe Stock
Home Builders Association urges ongoing policy and interest rate adjustments to revive housing market
Builder sentiment across the country continued to decline in the third quarter according to the results from the Canadian Home Builders’ Association (CHBA) 2024 Q3 Housing Market Index (HMI), with Ontario and British Columbia in particularly dire circumstances.
While lower interest rates and other policy measures being implemented should eventually help increase sales activity, fixed-rate mortgages – the most popular mortgage product in Canada – have not yet gone down enough to impactfully improve affordability and result in more sales activity.
Did you know?
Focus on Markets
Loonie watch: Canadian dollar hits four-year low as 71 cent U.S. threshold nears
Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.
