Archive for the ‘Toronto’ Category
NOW Toronto‘s Susan G. Cole notes how independent bookstores in Toronto are upset by a grant of money by the Toronto municipal government to a literary festival.
A grant from the Toronto Arts Council to the International Festival of Authors, bestowed last fall, has outraged programmers for the city’s independent bookstores.
“The decision to fund IFOA feels like a nail in the coffin for indie bookstores and shows the Arts Council’s lack of concern for the financial health of independent booksellers,” says Another Story event organizer Anjula Gogia, representing other indie stores and festivals as well, including Pages Unbound and Glad Day Books.
The IFOA’s new program called Toronto Lit Up has received close to $300,000 over three years and is designed to assist publishers in launching new books by Toronto authors.
IFOA director Geoffrey Taylor explains that a committee – comprised of himself, author Dionne Brand, Quill and Quire’s Allison Jones and Hazel Millar, representing the Literary Press Group – has been formed to allocate the monies and is accepting applications from publishers and authors seeking funds for launches.
The problem, according to Gogia, the former programmer for the now shuttered Toronto Women’s Bookstore, is that indie stores could very well be squeezed out of the launch scene that’s so crucial to their businesses. Books sold at launches represent their bread and butter.
Just metres from the cold waters of Lake Ontario, the fields of the Kew Gardens Tennis Club were greening already on the 24th of February.
The Globe and Mail‘s Alex Bozikovic really quite likes the proposed redevelopment of the area of Honest Ed’s and Mirvish Village.
Mirvish Village is dead. Long live Mirvish Village. In the area near Honest Ed’s this week, workers had put up fences around a string of Victorian houses on Markham Street, preparing to gut them, while creatives assembled an “Art Maze” inside the old Honest Ed’s store for a festival and sendoff, An Honest Farewell, this weekend.
It’s the end of an age at Bloor and Bathurst Streets: the loveable shambles of Honest Ed’s is gone forever. But as this weekend’s events suggest, the past will continue to have a presence on the site.
The new development at Mirvish Village, after two years of conversation between developers Westbank, locals and the city, is inching closer to approval, with a new proposal submitted in January to the city. Westbank paid $72-million for the site, a big number, and yet the result is as good as private development gets in Toronto. It features meaningful preservation of heritage buildings, a serious sustainability agenda, and affordable housing – not to mention an architectural and leasing strategy geared at making the place as lively as possible, even a bit weird.
That’s all because the developers have been ready to engage in meaningful discussion: The city and the community have made this proposal better through talking and listening.
When the first Westbank proposal emerged in early 2015, “I think [the City of Toronto] were surprised by how much we were offering,” the main architect, Vancouver’s Gregory Henriquez, told me last week. “That’s how we deal in Vancouver: We come with our best offer.”
Doug Alexander and Katia Dmitrieva write for Bloomberg about the statement by the Royal Bank of Canada’s chief executive officer that Toronto’s housing market needs to be slowed down like Vancouver’s
Toronto may require measures to cool its red-hot housing market similar to moves taken in Vancouver if interest rates don’t increase, said Royal Bank of Canada Chief Executive Officer David McKay.
The head of Canada’s largest lender said Toronto housing is “running hot” and is fueled by a “concerning mix of drivers” that include lack of supply, continued low rates, rising foreign money and speculative activity. Similar circumstances in Vancouver prompted British Columbia’s government last year to impose a 15 percent tax on foreign buyers.
“In the absence of being able to use higher rates to reduce that, I do think we’re going to at some point have to consider similar measures to slow down the housing price growth,” McKay said Friday in a telephone interview.
The comments from the bank CEO come as frustration grows over the unaffordability of properties in Canada’s biggest city. The average home price in Toronto jumped 22 percent in January from the previous year, the fifth straight month of gains topping 20 percent. Listings have dropped off, down by half from last year, squeezing prices further.
The CEOs of Canada’s other big banks last year called on the government to increase housing regulation amid skyrocketing prices in Vancouver and Toronto. National Bank of Canada CEO Louis Vachon said that minimum downpayments should return to 10 percent from 5 percent, while Bank of Nova Scotia head Brian Porter suggested his company was pulling back on mortgage lending due to concern about high home prices in those two cities.