The Record

OMB Approves Victoria Street Condos

KITCHENER — A provincial tribunal has approved Momentum Developments' plans for a large condominium with two towers and more than 300 units at 100 Victoria Street South.

The Ontario Municipal Board handed down a decision Friday that paves the way for the project with no changes or conditions.

K-W Home Prices Surge On Listings Shortage

KITCHENER — House prices in Kitchener and Waterloo surged in July as a shortage of listings continued to limit choice for home buyers.

The average sale price last month jumped 13.2 per cent to $387,102 compared to a year earlier.

More Young Home Buyers Want In As Prices Rise

The unstoppable rise in home prices in the GTA and Hamilton is persuading more 20-to-40 something buyers now is the time to jump in for fear they if they don't they'll be locked out of the market for good.

Waterloo Crafting Community Strategy

WATERLOO — The city is calling on community members to help craft a neighbourhood strategy so it can help residents create a feeling of community.

Recruitment is underway for up to 40 residents who will form an advisory panel to offer in-depth input on the strategy, expected to be complete in 2018.

Intensification Tension in Waterloo

WATERLOO — Intensification is causing some tension in the City of Waterloo as neighbourhoods push back and councils vote down applications in line with the city's official plan, leaving developers uneasy about what council might do.

In recent months, politicians voted down two applications supported by their own planning staff and criticized another not yet up for approval.

Development without drama

When new projects are announced in old neighbourhoods, the fallout can be unpleasant, but in Cambridge some people are showing it is possible to reach a happy compromise

CAMBRIDGE — When Wendy Patterson heard about a possible townhouse development going up across the street from her Blair Road bungalow, she was incensed.

Biggest Home Price Gain In Q2 In 5 Years: Report

TORONTO — Realtor Royal LePage says the national average home price climbed 9.2 per cent during the second quarter compared to a year ago — the largest year-over-year gain in five years.

In its latest report, the realtor says the national average home price grew to $540,223 during the quarter, fuelled by low borrowing rates.

Pace Of Housing Starts Increased In June

OTTAWA — Canada Mortgage and Housing Corp. says the pace of home construction picked up last month, boosted by work beginning on apartments in Ontario and especially condominiums in Toronto.

The housing agency said Monday the seasonally adjusted annual rate of housing starts was 218,333 units in June, up from 186,709 in May.

Toronto Real Estate Board Appeals Tribunal Ruling, Arguing Privacy Concerns

TORONTO — The Toronto Real Estate Board is appealing a landmark ruling by the Competition Tribunal that would allow its realtor members to post sales data online, arguing that the decision violates the privacy of homebuyers and sellers.

Kitchener Development Meeting Includes Live Music, Dogs

KITCHENER — As a long-planned condo development on the site of the old Barra Castle nears approval, the developer and city planner on the project met with residents in an informal front-yard meeting that included live music, iced tea, snacks and a handful of neighbourhood dogs.