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Don’t tell anyone, but it’s a myth that millennials hate the suburbs It might not be as cool as living downtown, but a new survey suggests millennials might not hate suburbia all that much. Altus Group, citing its 2015 fall FIRM survey, says 35 per cent of those 35 and under disagree with the statement that they prefer to live in a smaller home in a central area than a larger home in the suburbs. The same survey found 40 per cent do agree with the statement, with everybody else neither agreeing or disagreeing. “We’ve said it before and we’ll say it again — it’s a myth that all so-called millennials are homogeneous in their desires, attitudes and behaviour,” says the report from Toronto-based Altus Group. “While there may be some tendencies that are more pronounced among today’s younger generation, when it comes to the housing sector, segmentation analysis is critical.” The survey, which only considered respondents in centres with populations of more than one million or more, found in almost every age group there was a willingness to trade off the bigger house in the suburbs for a smaller home in a central area. Among those 35-49, like millennials, 40 per cent said they would make the trade-off. <iframe name="fsk_frame_splitbox" id="fsk_frame_splitbox" frameborder="0" allowfullscreen="" webkitallowfullscreen="" mozallowfullscreen="" style="padding: 0px; margin: 0px; width: 620px; height: 0px; border-style: none; border-width: initial;"></iframe> Broken into sub categories, 19 per cent of millennials agree completely they are willing to live in that smaller home in a central area versus the larger one in the suburbs. Another 21 per cent somewhat agree. Millennials actually ranked behind those 70 years or older when it comes to strong feelings on the matter. Among those seniors, 22 per cent agreed completely with going for the tinier downtown home. “There is a prevailing view that all millennials in larger markets want to live downtown — even if it means having to settle for a smaller residence to make the affordability equation work. Our research busts that myth,” said Altus Group. The same report finds all those downtown dwellers, many of whom will be settling in high-rise condominiums, are going to need parking sports because they are not ready to ditch their cars. The FIRM survey found that in the country’s six largest markets, defined as Vancouver, Calgary, Edmonton, Toronto, Ottawa-Gatineau and Montreal, only about one in 10 owner occupants of condominiums built in the last six years does not have a vehicle. That’s close to the average of all households, but condo dwellers are far less likely to have two vehicles. twitter.com/dustywallet gmarr@nationalpost.com http://business.financialpost.com/personal-finance/mortgages-real-estate/dont-tell-anyone-but-its-a-myth-that-millennials-hate-the-suburbs Contrepoids à la discussion: http://mtlurb.com/forums/showthread.php/23922-Bye-bye-banlieue%21

Nicolas Van Praet, Financial Post · Jun. 6, 2013 | Last Updated: Jun. 6, 2013 2:23 PM ET MONTREAL • Green Mountain Coffee Roasters Inc. is revamping its Canadian manufacturing operations in Montreal as investors savour a tripling in the company’s shares over the past year. The Waterbury, Vt.-based company, which bought Quebec coffee chain Van Houtte in 2010, will announce Friday a $40-million to $50-million investment to modernize its plant in Montreal’s Saint Michel neighbourhood with new packaging equipment, two sources said. More than 100 new jobs will be created in the move. It’s all part of a larger effort by Green Mountain Canada President Sylvain Toutant to fortify and grow the company’s presence in Montreal since the $915-million takeover three years ago. Building on initial moves to purchase property around the company’s Van Houtte coffee facility in the city’s north end and to occupy a new country head office, Mr. Toutant is now expanding the Montreal manufacturing operations. “This is really a great piece of news for a neighbourhood that badly needs it,” said Frantz Benjamin, the municipal councillor representing the district, adding the company’s modernization is only the first phase of what could be a larger economic development project for the neighbourhood. Related “In the medium term, we’d really like to develop an entire Quartier du Café (Coffee District) in the area,” anchored around Green Mountain, he said. Montreal has other geographical clusters of business activity, but this one in Saint Michel’s industrial district would be among the more remote. The coffee maker sought financial support from the Quebec government for the manufacturing modernization, which it is believed to have won. The funds would be used to add a production line in Saint Michel and diversify commercial activities, the company said in a filing with Quebec’s lobbyist registry. Shares of Green Mountain rose 3% to $74.68 in Nasdaq trading Thursday. They’ve more than tripled over the past year. In December, Mr. Toutant articulated a three-year plan for Green Mountain’s Montreal site to add 50,000 square feet of production space, boost the payroll by 150 workers to 1,000, and refurbish the roasting plant. The site currently encompases the head office, a roasting factory and two distribution warehouses. Green Mountain dominates the single-serve coffee market in the United States with its Keurig-brand coffee makers and K-Cup pods, making money from most of the coffee sold for those machines. The company lost more than two-thirds of its market value during the year ending last October, but has since staged a remarkable recovery, proving that despite the expiry of its K-Cup design patents it can still generate earnings growth. Green Mountain’s product innovation will be an important performance driver in the years ahead, Imperial Capital analyst Mitchell Pinheiro said in a research note Thursday, initiating coverage on the shares with an outperform rating and $95 price target. “We believe the company’s potential on the cold beverage side of the at-home beverage category could create an opportunity that is as large, if not larger, than its current coffee, tea and hot cocoa segment,” Mr. Pinheiro said, forecasting earnings per share growth of 15-25% over the next three years. http://www.nationalpost.com/Green+Mountain+boost+Montreal+operations+with+much+investment/8490304/story.html

By Brian Ker, Special to The Gazette The Gazette's panel of experts answer your questions on real estate. To ask a question, please email alampert@montrealgazette.com. There has been a lot of discussion recently regarding the bonanza of construction taking place in Montreal and certainly on these pages an inquisitive analysis of the quantity of condominium construction. We also hear about “the hot land market” and there are lots of questions as to its sustainability. I recently attended the Land and Development Conference in Toronto to determine the optimism in North America’s largest condominium market and compare that with what we have been witnessing here in Montreal as land values have rapidly increased over the past five years. In a hot market, land is not an asset but is priced more like a commodity: a raw material that is just one part of a final constructed product, including concrete, steel and labour. In a weak market, land values are more likely tied to its short-term income-producing potential, such as parking revenues less off-setting taxes. The rapidly diminishing land supply and a cultural shift toward urban living have lead to changes in the commercial land market. First, commercial land sales are principally divided between high- and low-density sites. High-density sites intended for office, hotel, mixed-use and multi-unit residential projects, while low-density sites incorporate retail, industrial and single-family home developments. The value of land is based on the total amount of density permitted on its property – a site permitting an office tower is considerably greater than a walkup row-house or an industrial facility – and the total volume of potential sales in a given year, which allow for larger projects. Restrictive zoning can adversely affect the site’s value, as can social-housing inclusions and lengthy, complicated and sometimes “out-of-control” zoning application processes that jeopardize a project’s economic vitality. On Montreal Island, the prevailing trend is that high-density sites are taking a larger market share of total land transaction sales volumes because of the increasing prominence of sales of larger development sites permitting significantly greater density, and higher pricing for each unit of density, also referred to as the price per square foot Buildable. Over the past five years, the value for each unit of density has doubled to an average price of approximately $30 per square foot buildable. This is primarily based upon the rapid increase (up to 50%) in values for condominiums during the same time period, and as such, sales of sites for residential projects have outpaced all other sectors. Developers will be happy to note that Montreal was the third-largest condominium market in North America in 2010, albeit in an aberration year for the U.S. housing market, and only trailing Toronto and Houston in overall condo starts. This buoyancy has been growing for some time as major developers have acquired land holdings to fuel future projects. Since October of 2008, there have been a 11 high-density development land transactions in the greater Montreal area that have traded above $5 million, with a total value of $148 million in high-density land sales. Major sales included the land for the Project Griffintown project, Angus Development in the Quartier des Spectacles, the Marianopolis site, the site for the Altoria project and most recently Prevel and Conceptions Rachel-Juilien acquiring the rights from Canada Lands to develop Les Bassins du Nouveau Havre for $20 million. These major land transactions were purchased by well-known, well-respected and well-capitalized condo developers, with the exception of the Angus Assembly and Altoria, both of which will feature a mix of office and condominium use. Mixed-use projects are becoming the new normal, as developers put forth projects that feature greater overall site density to decrease the effects of higher land prices or kick start existing larger projects with an exclusively residential component. For land values to continue their ascent, Montreal developers and buyers need to develop an attitude shift with regard to larger projects. The traditional condo developer logic is that it is nearly impossible to sell more than 150 units for a project in one sales year. The rationale for this is, typically, that Montrealers will not pay a deposit for a condo unit until substantial pre-sales have been achieved or it is under construction, as they are not willing to wait two to three years for delivery. Recent project launches, though, are challenging this traditional thinking, with buyers (or their agents) waiting in line overnight and first-day sell-outs occurring with regularity, or buyers are asked to place a “deposit” to reserve a unit without seeing final plans. Buyers can no longer sit back and cherry-pick the best unit, as it will probably be reserved before they arrive on the scene. In addition, unless condominiums continue to experience strong price increases, Montreal condo developers will be facing increasing pressure for prime sites from alternative uses, such as office towers, hotels, or institutional (Healthcare, Educational, Student Residence) projects, where demand is steadily growing. Finally, our municipal government needs to develop a more flexible zoning application process with regard to major urban projects and the need for public consultations. Politicians should rely on the counsel of independent experts, but are elected to make decisions, and voters should judge them on these decisions, good or bad, at the ballot-box. Montreal home and condo owners have benefited from the rapidly rising values of their residential real estate over the past five years. Although rising interest rates are on the horizon and will clearly dampen demand for condos for home ownership and as an investment vehicle, demand is increasing for alternate site uses. Land values have also seen a rapid ascent, particularly for high density sites, and the economic fundamentals support continued growth and greater liquidity in this particular market. Brian Ker is associate vice-president, National Investment Team, at CB Richard Ellis Limited. He can be reached at 514 905-2141 or by email at brian.ker@cbre.com. Read more: http://www.montrealgazette.com/sustainable+Montreal+construction+bonanza/4889700/story.html#ixzz1OFFSPeAz

(Courtesy of Gizmodo) Should be released by 2011 Its nice to see a newer version of the 747 going to be on the market soon.

Lords of Trafalgar okay $7-million condo facelift MIKE BOONE, The Gazette Published: 7 hours ago A 93-per-cent approval rating is difficult to achieve on this side of the Great Wall. But that's the vote Norman Glouberman got to approve repairs at the Trafalgar condominiums. Fixing the walls and roof of the 70-year-old building on Côte des Neiges Rd. above Cedar Ave. is going to take three years and cost an estimated $7 million. Glouberman, who chairs the eight-member Trafalgar board of administrators, got the okay from residents in 53 of the building's 57 units. Four dissidents are suing to contest the project, but the overwhelming majority has carried the day and work began in May. "The first information session did not go well - $4 million to $5 million for the masonry was a big shock for everyone," says Norman Glouberman, head of Trafalgar's board of administrators.View Larger Image View Larger Image "The first information session did not go well - $4 million to $5 million for the masonry was a big shock for everyone," says Norman Glouberman, head of Trafalgar's board of administrators. There's scaffolding up the Côte des Neiges side of the three-tower complex. Pallets of bricks and mortar are stacked amid luxury sedans in the courtyard. After leaving the keys to my unluxurious car with the Trafalgar doorman yesterday, I rode the vintage elevator, with its sliding brass grate door, up to Glouberman's fourth-floor condo. He and his wife have a seven-room, 2,200-square-foot unit, and Glouberman's share of the repair bill will be $170,000. Even at this elevated socio-economic stratum, that's not chump change. And no one turned handsprings - probably ill-advised at their age, anyway; two of the condo owners are 90-somethings - when residents were told the Trafalgar needed a facelift. "Unlike apartments, in a condo arrangement everyone has a say," Glouberman said. "Normally, people don't say anything. But when there's money involved ..." The Trafalgar was built - by the grandfather of Montreal restoration architect Julia Gersovitz - as apartment units in 1933 for $1 million. That was serious money in the Dirty Thirties. "The sad part," Glouberman said, "is I've been told that during the 1970s, which was really tough times for real estate, the building was sold for $1 million." That was then. The Trafalgar is evaluated at $55 million. A 3,300-square-foot condo recently sold for $1.4 million. Glouberman has lived there nine years. There's been minimal turnover - about 20 per cent in that time. Who would move? It's a honey of a location on the slope of Mount Royal, with dazzling views of downtown. Glouberman, who's an architect, walks to his Ste. Catherine St. office. Even great buildings start to crumble. The Trafalgar underwent masonry repairs in 1995, but a three-year renovation project was stopped after one year because residents didn't want to spend money on repairs that were not deemed necessary. That was a mistake. "We knew there were minor problems with the masonry," Glouberman said, "but not major problems." Three years ago, the condo board commissioned a thorough study of what ought to be done. The leaky roof could be repaired for $1.5 million and the garage could be fixed for $750,000. "But $4 million to $5 million for the masonry was a big shock for everyone," Glouberman said. "The first information session did not go well." No one - not even a rich downtown condo owner - likes a $150,000 repair bill. But almost every property owner realizes home repair is a good investment - especially in a high-class building like the Trafalgar. Not that it's perfect. The elevator remembers only the floor number pressed by the first passenger to board. Rosemary's Baby vibe notwithstanding, that's the charm of the Trafalgar: a 93-year-old resident drives her car, and the elevator has Alzheimer's. mboone@thegazette.canwest.com

New statistics from Citizenship and Immigration Canada suggests that mid-sized cities are beginning to attract an increasing number of immigrants due in large part to shifting economic and employment prospects. Government initiatives such as the provincial nominee program that allows provinces to select immigrants to fill specific labour needs; and the development of tools that help smaller centres draw and retain immigrants are some of the reasons attributed to his recent shift. In addition, a booming economy in Western Canada has lead to a surge of newcomers migrating to more rural areas thanks to the provincial nominee and family nominee programs enacted by the Government. The figures show the number of immigrants taking up residence in Toronto dropped to 87,136 last year from 99,293 a year earlier, a decline of roughly 12 per cent, while the number coming to Vancouver slipped to 32,920 from 36,273, a drop of just over nine per cent. Montreal was up slightly to 38,710 from 38,391. Meanwhile, Charlottetown was up 73 per cent to 801, Moncton 31 per cent to 343, Saskatoon 40 per cent to 1,618, Winnipeg 10 per cent to 8,472 and Red Deer 93 per cent to 567. It was a mixed picture in British Columbia's smaller centres, with gains in Kelowna, Chilliwack, Nanaimo and Victoria and declines in Kamloops, Abbotsford and Prince George. Despite these facts the preferred destination for the vast majority of immigrants are the larger cities, with 67 per cent of newcomers calling them home. The main reason for this is that larger cities tend to offer an established community of family and friends and a greater number of economic opportunities -- either low-skilled jobs that require few language skills or businesses that cater to particular ethnic groups. Interestingly, studies have shown that immigrants who settle in larger cities experience labour market advantages over those who settle in smaller cities and they can earn substantially more. Nevertheless, immigrants have begun to appreciate the advantages of living in a smaller city, away from the congestion, pollution, noise and stress of the big city. Many newcomers enjoy the smaller cities precisely because they are so different from the chaos, traffic and pollution of large cities. If you are interested in Visas to Canada, contact Migration Expert for information and advice on which visa is best suited to you. You can also try our visa eligibility assessment to see if you are eligible to apply for a visa to Canada. http://www.migrationexpert.com/Canada/visa/canadian_immigration_news/2008/Aug/0/538/Immigrants_Flocking_to_Canada's_Smaller_Cities_Where_Job_Growth_is_Strongest

(Courtesy of CBC News)

Rich Canadians have bigger carbon footprint Size matters. Study links national income, consumption JOHN MORRISSY, Canwest News Service Published: 8 hours ago When it comes to ecological footprints, wealthy Canadians are a confirmed size 12, creating a global warming impact 66 per cent greater than the average household, according to a new study by the Canadian Centre for Policy Alternatives. The study is the first to link national income and consumption patterns with global warming, and it showed that the richest 10 per cent of Canadians create an environmental footprint that's 2.5 times the size of those created by the lowest 10 per cent on an income scale. "When we look at where the environmental impact of human activity comes from, we see that size really does matter," said Hugh Mackenzie, a research associate for the Ottawa-based think-tank and co-author of the study. "Higher-income Canadians create a much bigger footprint than poorer Canadians." The study revealed a gradual progression of environmental impact going up the income scale, but a marked jump with the richest 10 per cent. In fact, the highest 10 per cent has an environmental impact that's one third larger than the next lower 10 per cent, Mackenzie said. The differences stem largely from the homes wealthy people own and the way they get around, Mackenzie said. The top 10 per cent own homes that are larger, cost more to build and to heat, and they are more likely to own more than one vehicle and travel more frequently by air, Mackenzie said. The impact of food consumption, on the other hand, hardly varies from one income group to another. The study measures environmental impact in terms of the amount of hectares it would take to sustain a certain level of consumption. When it comes to the wealthiest Canadians, their environmental footprint requires 12.4 hectares per capita, compared with the average Canadian's 7.5-hectare footprint. Globally, the average Canadian's footprint is still several times the average of those in poorer nations. What the study highlights, Mackenzie said, is the need for policy-makers to realize how activities related to global warming concentrate themselves in the upper income groups. Failing to recognize that could lead to policies that penalize lower-income Canadians yet fail to achieve their objectives, he said. "All Canadians share responsibility for global warming," said co-author Rick Smith. "But wealthier Canadians are leaving behind a disproportionately larger footprint - and should be expected to make a disproportionate contribution to its reduction." http://www.canada.com/montrealgazette/news/business/story.html?id=57768cfb-8144-4ae2-b235-3a045d045065

(Courtesy of The Huffington Post) Plus there is a little demonstration how the system works, if you go to the link