Federal News
Bank of Canada Rate Announcement
Last week, the Bank of Canada announced it would maintain the current policy rate at 2.75%. The Bank is continuing to take a cautious approach, given the current economic climate and the impact of tariffs. The next rate announcement is scheduled for July 30.
CMHC Mortgage Consumer Survey
CMHC recently released results from a survey of 4,000 recent mortgage consumers across Canada. The following are a few interesting highlights:
- For first-time homebuyers, 71% believe that homeownership is a good long-term financial investment
- 41% of first-time homebuyers used gifts or inheritance as their downpayment, followed by 39% who used savings outside of an RRSP and 38% who used savings from within a tax-free first home buyers’ savings account
- 46% of repeat buyers purchased a new home because they had a change in living situation or marital status
- 31% of repeat buyers said their unexpected expense during the homebuying process was land transfer taxes
- 80% of repeat buyers believe that homeownership is a good long-term financial investment
Provincial News
Tarion Warranty Changes Coming July 1
To safeguard new home buyers from builders who engage in illegal construction and sales of new homes, Tarion is implementing a new policy effective July 1. This policy will require purchasers of new freehold homes to notify Tarion of their purchase through an online portal within 45 days of entering into a purchase and sale agreement with a vendor or builder. Starting in 2026, the deposit coverage for new home purchases may vary for buyers who provide notice to Tarion and those who do not.
City of Burlington
ARU Incentive Program
The City of Burlington has launched a new incentive program for Additional Residential Units (ARUs). ARUs are defined as “a self-contained living unit with its own kitchen, bathroom and sleeping areas.” ARUs are located on the same property as a primary home. The incentive program includes municipal fee waivers, forgivable loans, and grants that can be used to create a new ARU or renovate an existing ARU to bring it into compliance with legislative standa
City of Hamilton
State of the City
Mark your calendars for the Hamilton State of the City on Monday, June 16, at Liuna Station from 11:30 a.m. to 1:30 p.m. Hear from Marnie Cluckie, City Manager, and senior city officials as they provide insights on operational progress, essential services, and infrastructure.
1,200 Affordable and Supportive Housing Units in the Pipeline
The City of Hamilton recently announced investments to bring approximately 1,200 new affordable and supportive housing units online for Hamiltonians over the next three years. The investment comprises a total of 21 projects that will support singles, families, Indigenous peoples, women, and women-led households. A news release from the city outlines that construction for the first phase, which will include 261 rental units, is set to begin in 2025
One Step Closer to Hamilton’s LRT
The Province of Ontario has issued a Request for Proposal (RFP) for the first phase of work on Hamilton’s Light Rail Transit (LRT) project. The announcement, made by Prabmeet Sarkaria, the Minister of Transportation, marks a significant milestone in the development of the LRT. The system will cover a 14-kilometre route with 17 stops from McMaster to Eastgate, providing improved options for travelling and commuting, as well as housing and economic development opportunities.
Development Charges (DC) By-law Review
The City of Hamilton is hosting a public meeting to gather feedback regarding proposed amendments to the City’s Development Charges By-law. You can register to speak or submit written comments for the Audit, Finance and Administration Committee meeting scheduled for Thursday, June 12, at 9:30 a.m. in Council Chambers.
City of Kitchener
Evictions Due to Renovations
On June 16, the City of Kitchener Council will receive a presentation from city staff on options for dealing with evictions due to renovations. The city’s staff report recommends investing in the creation and maintenance of affordable housing, advocating at the provincial level for regulations for bad faith evictions due to renovations, and several new initiatives, including establishing a Landlord-Tenant Forum, creating educational resources for tenants and landlords.
Short-Term Rental Licensing
The City of Kitchener is reviewing a proposed bylaw to implement licensing for short-term rentals, such as AirBnB and VRBO. In addition to obtaining a license, the bylaw includes capping stays for 30 consecutive days. It would require operators to provide detailed floor plans, insurance that would indemnify the city, and more. The proposed bylaw will be discussed at the June 23 meeting.
Niagara North
Grimsby Official Plan and Zoning Amendment for ARUs
On June 11, the Planning and Development Standing Committee will receive an information report regarding an Official Plan and Zoning By-law Amendment for Additional Residential Units (ARUs). The report includes the provincial changes and their impact on the Town’s policies, as well as proposed amendments to support additional housing options and ensure conformity with provincial plans.
Norfolk County
Master Recreation Plan Update
In May, Norfolk County Council approved a motion to adopt the Master Recreation Plan “Recreation without Borders” as the vision and guiding framework for the county. In addition, the council removed the restriction on splash pads so as not to prevent future facilities. Council also directed staff to develop a full business case as part of the 2026 budget process on the option to construct a twin arena and pool complex.
Cornerstone was identified in the county’s staff report as one of the stakeholder meetings during the consultation period. Cornerstone facilitated a meeting with county staff and the Haldimand-Norfolk Home Builders’ Association to express concerns about potential funding mechanisms for the plan, including a proposed New Housing Tax Contribution that would impose an additional 2% tax on new homes. County staff assured that this option would not be recommended.
City of Mississauga
First 100 Days of the Mayor’s Housing Report
The City of Mississauga recently marked 100 days of progress with the Mayor’s Housing Task Force report which was released on January 22nd. The city expects 11,600 residential applications over the next few months, whereas only 2,557 came forward in 2024.
City of Waterloo
State of the City & 5,000 Resident Community Announcement
On May 1st, Mayor Dorothy McCabe delivered the 2025 State of the City on behalf of the Waterloo City Council. Mayor McCabe acknowledged the businesses that have invested in Waterloo and contributed to the city’s success and growth.
Another theme in Mayor McCabe’s remarks was growth and development, which includes the 1,800 new homes that are part of a new community located near University Avenue and Woolwich Street. The 34-acre greenfield property will feature commercial and residential development, presenting a mix of affordable and attainable housing options for everyone, from first-time buyers to growing families and seniors. Construction is set to occur over the next 10 years.
Rental Apartment Buildings Bylaw
The City of Waterloo seeks feedback to shape its rental licensing regulations. The licensing will apply to both long and short-term rentals.
Two Residential Housing Development Approvals
On May 5th, City of Waterloo Council approved a zoning change application and an official plan for a subdivision that will create between 195 to 342 residential units. The new development at Roy Schmidt Road and Conservation Drive will include single detached, semi-detached, townhouse, and other mixed-use dwellings.
On May 12th, the City also approved applications for a new six-storey mixed-use building at the corner of Albert Street and Hemlock Street. The development will include 140 units, providing 200 bedrooms of varying sizes, along with commercial space, amenity areas, and vehicle and bicycle parking spots.
The approvals align with the City’s Housing Pledge commitment to plan for 16,000 new residential units by 2031.
Your feedback is appreciated! Please contact us at: advocacy@cornerstone.inc.
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