The Ontario Government announced yesterday that Toronto’s new Ontario Line subway contract has been awarded to Connect 6ix. Work is to begin in 2023 and expected to be completed in 2031.

The Ontario Line will be a 15.6-kilometre new rapid transit line running between the Ontario Science Centre and Exhibition/Ontario Place in Toronto, with 15 stations, including six interchange stations.
Click here for RFQ information and here for the press release.

Quick Facts

• The 15-stop Ontario Line will extend 15.6-kilometres from Exhibition/Ontario Place to the Ontario Science Centre and will offer more than 40 transit connections to other subway, bus, streetcar, light-rail transit and regional rail services, linking communities from east to west, north to south.
• The Province also released a sample of the subway train renderings prepared by Connect 6ix, showing early-concept designs that will be finalized after further consultation with municipal partners and communities.
• The trains will be packed with the latest technology and feature onboard Wi-Fi, digital passenger information screens, charging points, dedicated spaces for bicycles, double wheelchair areas, and continuous, connected carriages.
• On November 9, 2022, the Province awarded the South contract, which includes a six-kilometre twin-bore tunnel, as well as four new underground stations (King-Bathurst, Queen-Spadina, Moss Park, Corktown), two underground stations that will integrate with the existing Osgoode and Queen TTC subway stations, and one above-ground station that will integrate with the existing Exhibition GO Station served by the Lakeshore West line.
• Early works construction for the Ontario Line is already underway at Exhibition Station, at the site of the future Corktown and Moss Park stations, and in the joint corridor west of the Don River.
• By 2041, the Ontario Line will reduce greenhouse gas emissions by 14,000 tonnes annually and cut overall fuel consumption by more than 7 million litres a year – the equivalent to nearly 120,000 fill ups at the pump.
• Improving public transit is vital to supporting Ontario’s economic development and recovery. Every $1 billion invested in transit helps support 10,000 jobs and boosts Ontario’s real GDP by another $1 billion.

Below are concept renderings for the subway and station.

Term – Our Rates

1 Year – 5.74%

2 Year – 5.74%

3 Year – 5.59%

4 Year – 5.54%

5 Year – 5.29%*

5 Year Special – 5.14%

7 Year   – 5.84%

10 Year – 6.15%

Variable Rate – 5.05%

Rates provide by Darlene Hanley from the Hanley Mortgage Group.

Darlene Hanley, Mortgage Agent #M08003191

44 Charles Street West #2304

Toronto, Ontario M4Y 1R7

(416) 323-0535

It’s official, today Good Behaviour is open for business in the East End. I’ve heard from a good source (my kids) that say the ice cream is amazing. I can’t wait to drop by soon and have some for myself along with one of their sub sandwiches. Support local and check them out, they’re located at 1324A Gerrard St East. If you are in the west end they are at 342 Westmoreland Ave N.

Happy Halloween!

I hope everyone had a safe and fun Halloween this year.  Below are a few of pics from last night. My youngest and I by The Rail Garden for a haunted tour and one from Woodfield Ave that was closed to traffic for the night where the little ghosts and goblins were out in full force.

Acronyms, every industry has them and if you are not involved in real estate on a regular basis, it’s hard to know what many of them mean. Below is a list of common acronyms you may come across when buying or selling a home in Toronto.

A/C – Air Conditioning

APR – Annual Percentage Rate

BSMT – Basement

DTI – Debt To Income ratio

CMA – Comparative Market Analysis

CREA – Canadian Real Estate Association

DOM – Days On Market

FINTRAC – Financial Transactions and Reports Analysis Centre

FIN W/O – Finished Walk Out Basement

HELOC – Home Equity Line of Credit

HST – Harmonized Sales Tax

HVAC – Heating Ventilation Air Conditioning

HVR – Heat Recovery Ventilator

LL – Lower Level

LRO – Land Registry Office

LT – Land Titles

LTV – Loan To Value ratio

MPAC – Municipal Property Assessment Corporation

OH – Open House

OREA – Ontario Real Estate Association

PC – Price Change

PCMLTFA – Proceeds of Crime (Money Laundering) and Terrorist Financing Act

PC – Price Change

PITI – Principal, Interest, Taxes and Insurance

PMI – Private Mortgage Insurance

PST – Provincial Sales Tax

RECO – Real Estate Council of Ontario

RM – Room

REMIC – Real Estate and Mortgage Institute of Canada

SC – Sold Conditional

SO – Sam Obeid

SPIS – Seller property Information Statement

SFH – Single Family Home

SFR – Single Family Residential

TRREB – Toronto Regional Real Estate Board

UFFI – Urea formaldehyde foam insulation

VC – Void Cheque

VTB – Vendor Take Back Mortgage

WETT – Wood Energy Technology Transfer

There is a lot happening behind the scenes so come back soon.

In the meantime, if you are looking to buy a home or condo in the greater Toronto area or just have some questions please send me a note via the contact form or give me call.

Cheers

Sam