Announcements

GTA Home Sales Edge Higher in June Amid Easing Borrowing Costs
The Toronto Regional Real Estate Board (TRREB)'s June data showed 6,243 home sales across the GTA, a slight 2.4% dip year-over-year but an increase from May on a seasonally adjusted basis. While average prices declined to $1.1 million, lower borrowing costs and more listings helped improve affordability and gave buyers greater negotiating power. TRREB leaders noted that further interest rate cuts and economic stability could help consumer confidence and support pricing as the market works through ongoing uncertainty.

Report Calls for Immediate Action to Restore Downtown Toronto’s Economic Health
A new economic analysis from Toronto Metropolitan University and York University outlines the urgent need to reinvigorate Downtown Toronto in the wake of sustained pandemic impacts. The report shows the core produced $117.7 billion in GDP in 2023 but faces rising office vacancies, declining global rankings, and persistent safety and congestion challenges. Researchers are calling for coordinated policy efforts spanning public transit improvements, infrastructure investment, and targeted support for vulnerable populations to safeguard the downtown’s role as an economic engine.

Toronto Ranked Among Least Affordable Housing Markets Globally
Toronto has landed near the bottom of Oxford Economics’ 2025 Global Cities Index for housing affordability, with residents spending a higher share of income on shelter than nearly any other major city. Experts cite a combination of soaring development fees, restrictive planning policies, and record population growth as drivers of the crisis, which has left average home prices above $1.1 million despite recent declines. Industry leaders are urging coordinated reforms to taxes, approvals, and land supply to avoid deepening the affordability gap and further constraining new construction.

GTA New Home Sales Remain at Record Lows, Prompting Calls for Urgent Policy Reform
New home sales across the GTA fell to just 345 units in May, marking the eighth straight month of record lows and an 87% drop below the 10-year average, according to the Building Industry and Land Development Association (BILD) and Altus Group. With both condominium and single-family sales plunging, industry leaders warn that the slump could lead to a sharp decline in housing starts, thousands of lost jobs, and billions in foregone construction investment. BILD is urging all levels of government to reduce development charges and reform GST/HST policies to restore buyer confidence and stabilize future housing supply.

New Analysis Warns of Major Economic Loss Without GST/HST Relief for New Homes
A recent Altus Group report prepared for BILD and the Ontario Home Builders’ Association warns that GTA housing starts could plunge by over 60% by 2027 without decisive policy action. The study estimates that failing to extend GST/HST relief to all new owner-occupied homes would jeopardize 41,000 construction jobs and more than $10 billion in annual investment. Industry leaders are pressing federal and provincial governments to act, emphasizing that targeted tax reforms could stabilize the market and secure long-term economic benefits.

Kerr Village Towns Secures Zoning Approval for Mixed-Use Development in Oakville
Brightstone’s Kerr Village Towns, a 48-unit luxury townhouse project in south Oakville, has received zoning approval, advancing plans to deliver new missing middle housing to the lakeside neighbourhood. The development will feature grade-level retail alongside residential units, offering a rare mixed-use addition to the area’s housing stock. Achieving approval in just 11 months, the project highlights the impact of proactive collaboration between municipal staff and builders amid a slower construction market.

New Accessible Basketball Courts Open at Confederation Park in Scarborough
The City of Toronto and Canadian Tire Jumpstart Charities have unveiled Scarborough’s first fully inclusive outdoor basketball courts at Confederation Park. The project features wheelchair-friendly court surfaces, high-contrast markings, accessible seating, and shaded areas so players and spectators of all abilities can participate. Supported through Jumpstart’s Inclusive Play Project and contributions from GTA Canadian Tire Dealers, the upgrades reflect a commitment to barrier-free recreation across Toronto.

ULI Toronto Releases Landmark Truth and Reconciliation Guide for Land Development
Urban Land Institute Toronto and the Shared Path Consultation Initiative have launched Answering the Call to Action 92, Canada’s first sector-specific guide to support reconciliation in real estate and land development. It provides practical steps for developers and planners to build respectful relationships with Indigenous communities, include Indigenous knowledge in land use decisions, and create equitable economic opportunities. Developed through collaboration with Indigenous advisors and industry leaders, the guide aims to move reconciliation from symbolic gestures to measurable commitments.

Construction Begins on Woodbine GO Station to Boost Regional Transit Access
The Ontario government has broken ground on the new Woodbine GO station, a project that will enable two-way, all-day service along the Kitchener Line. Replacing Etobicoke North station, the facility will feature accessible platforms, pedestrian bridges, parking, and connections to local transit and Pearson Airport. Supported by up to $170 million from Woodbine Entertainment Group, the station is expected to improve regional mobility and support new housing.

Bradford GO Station Completes Major Upgrades to Improve Rider Experience
Metrolinx has announced the completion of upgrades at Bradford GO station, including a new bus loop with three bays, a heated shelter, and real-time schedule displays. Additional improvements feature safer pedestrian crossings, renovated parking areas, and upgraded lighting and security systems.

Toronto Launches Citywide Cleaning Blitz to Enhance Public Spaces
The City of Toronto has kicked off the Keep Toronto Beautiful campaign, deploying large crews to clean streets, parks, and public areas throughout the summer and fall. Crews will remove graffiti and litter, install new waste bins, repaint crosswalks, and repair public amenities while targeting neighbourhoods with the greatest need. The initiative aims to improve public health and safety and create more welcoming spaces for residents and visitors alike.

Events & Awards

Workshop to Explore Global Expansion Strategies for Canadian Architects
A one-day workshop titled Going Global: International Opportunities for Canadian Architects is set for July 7 at MacLennan Jaunkalns Miller Architecture & Design in Liberty Village. Led by Ian Chodikoff and Jack Renteria, the event will gather developers, policymakers, and architecture professionals to examine how Canadian firms can expand abroad under agreements like CETA and the MRA. With sessions on market entry strategies, brand adaptation, and case studies of international success, the program aims to equip attendees with tools and insights to grow their practices in Europe and the Nordic countries.

NXTCONNECT Event to Link Interns with Real Estate Leaders on Toronto’s Waterfront
On July 24, NXTCONNECT will welcome university interns and commercial real estate professionals for an afternoon of networking and learning at The Goodman Pub and Kitchen on Queens Quay West. The program features industry trivia, remarks from senior practitioners, and structured speed networking to help students build connections and explore career pathways. Open to members and non-members, the event offers a unique opportunity to support emerging talent in a relaxed lakeside setting.

BILD Builder Invitational Golf Tournament Returns to Angus Glen This August
BILD is hosting its annual Builder Invitational Golf Tournament on August 27 at Angus Glen Golf Club in Markham, bringing together industry professionals for a full day of networking and recreation. The event includes lunch, an afternoon shotgun start, on-course food and beverages, and a cocktail reception capped with prizes and the signature golfer gift. Open exclusively to BILD members, each group must include at least one builder, developer, or renovator to participate.

CREST Awards to Recognize Sustainability Leaders in Commercial Real Estate This September
The 2025 CREST Awards, celebrating outstanding achievements in emission reduction and sustainable building management, will be held on September 9 in Toronto. Organized as part of the race2reduce program, the awards honour property owners and managers driving decarbonization across the commercial real estate sector. Entries are open until July 8, with categories spanning Innovative Excellence, Climate Champion, and the Toronto Hydro Electrification Award, offering winners recognition both locally and on the national stage through BOMA Canada’s Enspire program.

***

Everyone from construction workers to brokers to real estate executives are encouraged to share news with us to be featured in our weekly updates. If you have some industry-related news to share, let us know by contacting us here.