Posts Tagged ‘Ottawa’

Posted by Moishe Alexander

The competition was spirited, friendly and all for a good cause today as teams from across the region squared off at the Rideau Centre in Canada Mortgage and Housing Corporation’s (CMHC) eighth annual gingerbread house build in support of Habitat for Humanity National Capital Region (NCR).

Several prizes were awarded, but the main winners will be local families whose dreams of homeownership will move closer to reality because of the event.

“Habitat for Humanity is a great organization that does amazing work here in Ottawa, across Canada and around the world,” said Ed Komarnicki, Parliamentary Secretary to the Minister of Human Resources and Skills Development and to the Minister of Labour. “I am delighted that CMHC is working with the local organization again this year to help raise money to build homes for families in the National Capital Region.”

In the competition’s professional category, local restaurants, bakeries and culinary schools competed to design and decorate gingerbread houses that evoke the holiday spirit. The top prize of $1,000 went to a stunning creation made by Fairmont Château Laurier. The second place prize of $500 was awarded to Cité collégiale, and third place went to Decadent Cakes with a $250 prize.

New to this year’s competition was an amateur category, which saw teams of families, friends and other ‘rookies’ compete to come up with the most tantalizing creation. The first prize of $500 went to Intempo Design Studio; second prize ($250) was awarded to Design First Interiors; and third prize ($100) went to Erskine Dredge & Associates Architects Inc.

A highlight of the annual event is the media competition, in which local media personalities compete against each other — and against the clock — in a live gingerbread house build. This year, teams from Virgin Radio, the Ottawa Citizen, the Ottawa Sun, 24 Hours Ottawa, A-Channel and CJOH CTV – Ottawa participated, and were presented with a certificate of appreciation by MP Komarnicki.

“CMHC has a special relationship with Habitat for Humanity, and we are pleased to be supporting them with today’s event,” said Karen Kinsley, President and CEO of CMHC. “This is a time of year when Canadians are looking to share their good fortune with others. Proceeds from CMHC’s gingerbread house competition will enable Habitat for Humanity to continue building safe and affordable homes for low-income working families in the National Capital Region.”

“Habitat for Humanity NCR is proud to partner with CMHC again this year for another excellent community event,” said Donna Hicks, Habitat NCR’s CEO. “Everyone is a winner in this event, especially the local families who will be helped by your generosity.”

The gingerbread homes will be on display at the Rideau Centre in the West Bay Bridge (near Grand & Toy) all weekend. Visitors are invited to tour the gingerbread village and bid on their favourite homes in a silent auction. All proceeds from the silent auction will go to support the home building programs of Habitat for Humanity NCR.

Habitat for Humanity NCR’s mission is to mobilize volunteers and community partners in building affordable housing and promoting home ownership as a means to breaking the cycle of poverty. Habitat has built 35 homes in the National Capital Region since 1993.

While construction is up by 2 per cent for the first nine months of the year in the Quebec part of the Ottawa-Gatineau census metropolitan area (CMA), 2009 will end with fewer housing starts than in 2008. It is expected that a total of 3,000 units While construction is up by 2 per cent for the first nine months of the year in the Quebec part of the Ottawa-Gatineau census metropolitan area (CMA), 2009 will end with fewer housing starts than in 2008. It is expected that a total of 3,000 units

Posted by Moishe Alexander

After near record years in new home construction, 2009 residential new home construction will grow below demographic needs in Ottawa Census Metropolitan Area. Total housing starts will close this year at 5,125 units or 27 per cent lower than in 2008 and well below the ten year average for the region. Tight credit conditions for high density development will delay construction in the Capital, particularly for condo apartments. However, increasing strength is expected next year as construction responds to growing demand for housing. In 2010 foundations will rise, growing slightly above population needs with 5,900 new units. Spill-over demand coming from the existing home market combined with low levels of construction this year and declining new home inventories will set the foundations for a strong rebound in New Home construction in the coming year.

Although total starts are expected to soften in 2009, single-detached homes will be declining the least. Single- detached starts will remain at close to 40 per cent of total construction or 2,250 units. The lowest interest rate seen in almost 60 years coupled with more affordable dwellings in Ottawa’s outskirts will result in decreasing monthly mortgage payments.
Single-detached new construction will pick up slightly through 2010. The Monetary and Fiscal stimulus coming from Canada’s Economic Action Plan will further boost the purchase of big ticketed items in the Capital City. Ottawa’s home market continues to be strong, as single-detached starts remain a good barometer of the strength of the new residential construction market.

The average price for new single- detached homes in 2009 will post a similar level of growth to last year and will stand at around $418,400 for a 2.3 per cent increase. Although the underlying increase in price in 2010 will be flat, a greater proportion of more expensive homes will drive the average price higher by 5.7 per cent.

Semi-detached and townhomes will provide an alternative to the single- detached home dwellings when their price increases in 2010. As a result, expect semi-detached and townhomes sales to increase by 10 and 11 per cent next year respectively.