DEVELOPMENT LAND ACQUISTION & SALES

Ai has been revolutionizing many industries in the past several years making business run more efficient and cost effective. As business owners we all need to adapt to technology or get left in the dust   https://therealdeal.com/national/2023/06/29/rise-of-the-machines-how-ai-is-changing-the-game-for-developers/

  https://storeys.com/rescon-research-streamline-ontario-development-approvals/ Ford Government using resources to speed up on approval times by 12 months

https://www.cbc.ca/news/canada/toronto/ontario-integrity-commissioner-investigation-1.6718018 This is what many land banking investors dream of. The zoning of their land to naturally be changed as demand for housing increases over time. Greenbelt land had little to no value until now there is a realization where it can potentially become "white" and developable. Now values multiple tremendously if your land is chosen to be re-zoned..  The question in this article is have politicians tip off land owners? Remains to be seen. Protestors of urban sprawl will always make their points. Its inevitable that land in GTA Golden Horseshoe will continue to develop over the years as that's where the population growth will always be close to US boarder, rich diversity and generally speaking warmer temperatures in Canada

Imagine having a court order to pay $11m for not closing development land that is just over half that cost. You might feel bad for the seller but keep in mind this happened in 2017. Land values may have doubled so the seller got possibly get out of this in the green. The development land in 2022 could potential be $13m which is almost double and the seller may have added value to the land prepping it for approval which could potentially make the land worth over $20m. So factor in paying $11m to the previous buyer the seller could be having $9m remaining which is a few more million then the original purchase price of $6.7m. This article notes that the buyer claims to potential have gained $23m on this development land which is very possible if they developed, built and sold to end user. However the courts would not co-operate with an over-extended story like that. https://renx.ca/vendor-court-order-pay-11m-lost-profits-terminate-purchase-agreement/?fbclid=IwAR1Eyy_eX-z6sxUZ2VRI0ESRgxFal_4JLtBIKk2a-WEQdzysJ3Is_G9jCXg

https://www.cbc.ca/news/canada/toronto/gta-homebuyers-set-to-lose-millions-unprotected-deposits-1.6435599 Always conduct your due diligence when purchasing pre-construction from a builder. Buying from new and unrecognized builders can be risky. You should be able to get a 10 day cooling period. Consult with your attorney the review the agreements and avoid making rational decision because of FOMO.

Ontario adding more layers to protect Pre-Con buyers on developers jacking up prices with raising construction costs https://toronto.ctvnews.ca/ontario-to-increase-penalties-around-unethical-condo-development-practices-1.5833301

https://www.cbc.ca/news/canada/toronto/trinity-ravine-creditor-protection-deposit-refunds-1.6385663 Failed retirement condo project add fears to buyers with deposits

Losani Homes/Fox Gate Developments had to cancel development and sales of McKenzie Meadows subdivision and return all deposits to prospective home buyers. Local Six Nations "land defenders" claim its unceded Haudenosaunee territory occupying the site. Full Details  

This ongoing battle since 2015 has sparked a lot of debate lately as ClubLinks claims Glen Abbey is not financially sound due to the lost of interest in golf assisted by our current pandemic. Both sides are been deploying endless amounts of money to defend their side as the City of Oakville spent $10 million in the past 6 years on studies and legal fees on designating it as a cultural heritage landscapes https://oakvillenews.org/news/glen-abbey-motion-calls-for-provincial-politicians-to-keep-their-word/  

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