KASON CONSTRUCTION LIMITED’s Post

According to CMHC, a combination of variables are affecting the supply of rental housing in vancouver and across canada and they include: 📈Rapidly rising interest rates 🏗️High construction cost 🏛️High government fees, as well as taxes and levies All these factors have complicated the financial feasibility of new rental projects

According to CMHC, a combination of variables are affecting the supply of rental housing in vancouver and across canada and they include: 📈Rapidly rising interest rates 🏗️High construction cost 🏛️High government fees, as well as taxes and levies All these factors have complicated the financial feasibility of new rental projects

My Strategic Pivot: From Quebec Construction to Ontario Real Estate Investment... I made a significant shift in my career by moving from Quebec to Ontario, focusing on acquiring multi-unit residential buildings instead of continuing in the custom construction business. This move was motivated by Ontario's streamlined financing process for multi-unit properties, including programs like interest-only loans that are better suited for my investment strategy. Custom construction involved selling assets upon completion, missing out on real estate's long-term appreciation. Observing the profits buyers of my custom homes made on resale highlighted that I was not leveraging one of the real estate's most lucrative benefits: property appreciation. This realization led me to pursue investments with long-term growth potential. In Ontario, I've acquired properties under interest-only loans, allowing me to renovate and re-rent. This approach, while facing challenges like high-interest rates and temporary revenue dips, is strategic. Vacating buildings for renovations ensures efficiency and maximizes rental income potential. The goal is substantial rent increases, with projections of tripling or doubling current rates. The strategy involves refinancing properties after improvements to extract the initial investment, which then funds future acquisitions. This cycle aims to create a self-sustaining portfolio, leveraging government subsidies for developers to achieve better financing terms and support growth. Transitioning from custom construction in Quebec to multi-unit residential investment in Ontario represents a strategic realignment towards long-term wealth generation. Through careful planning, leveraging financing programs, and government subsidies, I aim to build a portfolio that not only sustains itself but also facilitates continuous growth.

CMHC announced yesterday significant changes to the Apartment Construction Loan Program (ACLP) with changes effective Friday, November 22, 2024.  The major changes are as follows: 1.     Extending the program from 2027/8 to 2031/2 2.     Expand eligibility to include: a.     On- and off-campus student housing. b.     Independent seniors housing. 3.     Remove minimum requirements related to accessibility and energy efficiency. 4.     Changes to the point system from previously having one set of points to access all the program benefits it has now changed to an MLI Select style system of points and tiers of benefits (the stronger your social outcome the better the benefits you can access) 5.     Introducing the ‘Frequent Builder Initiative’ for established housing providers with financial strength that have a proven track record in delivering projects and in working with CMHC. Approval under this initiative allows for faster approvals, underwriting flexibilities and conditional funding approved for future years 6.     Two new funding set asides a.     $100M committed to build apartments above existing shops and businesses b.     $500M to build new apartments that use prefabricated or innovative homebuilding techniques More details to come shortly.

Why Are West Coast Investors Flocking to Tucson's New Construction Multi-Family Market? In recent months, we've seen a surge of West Coast investors snapping up new construction multi-family properties in Tucson. But what's driving this trend? Let's break it down: High Demand for Modern Living: Modern Duplex Popularity: Today's renters and buyers are seeking out contemporary, energy-efficient homes. Modern duplexes offer sleek designs, state-of-the-art amenities, and sustainable living—all of which are in high demand. Quality of Life: Tucson offers a fantastic quality of life with its sunny weather, vibrant culture, and lower cost of living compared to major West Coast cities. Inventory Shortage: Limited Supply: There's a noticeable shortage of new construction inventory in Tucson. This scarcity is driving up demand and making these properties even more desirable. Competitive Market: With more investors vying for these properties, it's crucial to act swiftly to secure the best deals. Why Get on the Waiting List? Access to Off-Market Properties: By joining a waiting list, you gain instant access to off-market properties that aren't available to the general public. This gives you a competitive edge. Pre-Construction Opportunities: Getting in early means you can purchase pre-construction. This is a significant advantage because: Spec Builds by Builders: Builders are creating homes based on market demand, ensuring high-quality construction. No Construction Loans: Unlike other markets, there's no need for a new construction loan, reducing financial risk and simplifying the process. The Takeaway: The high demand for modern duplexes, coupled with a shortage of inventory, makes it essential to act quickly. By getting on the waiting list, you not only stay ahead of the competition but also gain exclusive access to prime properties before they hit the market. Don’t miss out on this opportunity! Secure your spot on the waiting list today and unlock the potential of Tucson's thriving real estate market. Feel free to reach out if you have any questions or need further details on how to get started. Let's turn this booming market to your advantage! 📩📞 4o

𝐖𝐑𝐅 𝐋𝐚𝐧𝐝𝐬 𝐀𝐠𝐫𝐞𝐞𝐦𝐞𝐧𝐭 𝐭𝐨 𝐀𝐫𝐫𝐚𝐧𝐠𝐞 $𝟑𝟎 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐃𝐞𝐛𝐭 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐧𝐠 We are thrilled to announce that Western Realty Finance has secured an agreement to broker financing for a centrally located Palm Springs Apartment project, within walking distance of shops and restaurants! 𝐏𝐫𝐨𝐣𝐞𝐜𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬 138 residential market-rate apartment units across multiple buildings, including a leasing office and a tenant gym facility. 𝐊𝐞𝐲 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥𝐬: Total Loan Amount: $30,546,886 Phases: Phase 1: 74 units in Buildings 1-5 Phase 2: 64 units in Buildings 6-9 Stabilized Value: $53,237,873 Loan to Cost (LTC): 79.1% Loan to Value (LTV): 57.5% 𝐏𝐫𝐨𝐣𝐞𝐜𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: Palm Springs Apartments is a high-quality mixed-use residential and commercial development designed to leverage the strategic location and zoning flexibility of Palm Springs. Catering to both long-term rentals and short-term hotel stays, this project promises robust financial returns and significant community benefits. 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐞𝐫 𝐏𝐫𝐨𝐟𝐢𝐥𝐞 Experienced Real Estate Developer: Bringing extensive experience in real estate development and construction, ensuring the economic viability and structural integrity of all projects. Strategic Real Estate Investor: Known for increasing property values through strategic renovation and repositioning, with a well-defined, repeatable investment process. Community Impact: This modern new apartment project will enhance the vibrant community of Palm Springs by providing affordablel housing and contributing to the local economy and urban development. Western Realty Finance: Your trusted partner in arranging and securing financing for premier development projects. We are proud to contribute to the growth and revitalization of communities through strategic financial solutions. Thank you to our correspondent lending partners Builders Capital for their continued support on this and many of our other construction finance project needs. ____________________________________ 𝐖𝐞𝐬𝐭𝐞𝐫𝐧 𝐑𝐞𝐚𝐥𝐭𝐲 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 works closely with experienced residential developers to arrange financing from $10MM - $200MM, for solid for-sale and for-rent projects. For more information contact David Van Waldick 760-672-0146 / dave@wrfco.com, or James Carenza, 760-519-6189 / jim@wrfco.com. Or visit our web site: https://lnkd.in/gr5QfQF3 #ConstructionFinance #HousingFinance #HousingFinance #affordablehousing

Are you interested in building a new home? The good news is that residential construction costs have risen at the slowest annual pace in over 20 years, according to CoreLogic’s Cordell construction cost index. The index, which tracks the cost to build a typical new dwelling, rose 0.5% in the June 2024 quarter. This was down from the 0.8% increase in the previous quarter. But, despite this slowing in cost hikes, the cost of residential construction is still well above its pre-Covid average. This makes having access to finance for your building project more important than ever. With my two decades of experience in financing homes, I can help guide you to a construction loan that suits your financial situation and long-term goals. #homeloans #construction #property If you’re thinking about building a residential property, call Alex McRae on 0418 641 797 or book an appointment here: https://lnkd.in/gGHpiR9f

Residential construction costs grew 1.0% over the September quarter, bringing it in line with the pre-Covid decade average, according to CoreLogic's latest Cordell Construction Cost Index (CCCI). The index tracks the cost of building a typical new dwelling. This increase, up from a 0.5% rise over the June quarter, is the strongest quarterly growth since the December 2022 quarter. Annually, costs have risen 3.2%. The third quarter change in the CCCI was highest in Queensland, which recorded the largest increase in construction costs (1.1%). This follows a 0.3% lift in the June quarter. New South Wales and Western Australia saw construction costs rise 1.0%, in line with the national growth rate, while Victoria and South Australia tied for the smallest quarterly increase, both up 0.8% over the quarter. #homebuilding #construction #Australiaproperty ------------------------ If you are looking to build your own home, we can help you secure a construction loan. To discuss your options, give us a call on 1300 648 175 or email info@financeindustries.com.au.

Residential construction costs grew 1.0% over the September quarter, bringing it in line with the pre-Covid decade average, according to CoreLogic's latest Cordell Construction Cost Index (CCCI). The index tracks the cost of building a typical new dwelling. This increase, up from a 0.5% rise over the June quarter, is the strongest quarterly growth since the December 2022 quarter. Annually, costs have risen 3.2%. The third quarter change in the CCCI was highest in Queensland, which recorded the largest increase in construction costs (1.1%). This follows a 0.3% lift in the June quarter. New South Wales and Western Australia saw construction costs rise 1.0%, in line with the national growth rate, while Victoria and South Australia tied for the smallest quarterly increase, both up 0.8% over the quarter. #homebuilding #construction #Australiaproperty ------------------------ If you are looking to build your own home, we can help you secure a construction loan. To discuss your options, give us a call on 1300 648 175 or email info@financeindustries.com.au.

The UK government's £3 billion increase in the Affordable Homes Scheme means there are some potential opportunities for scaffold companies ahead: 🔨 Expansion of Affordable Homes: 20,000 new homes will mean demand for scaffold services as housing providers access low-cost loans to boost construction 🛠️ Upgrade of Existing Properties: The scheme covers upgrades too, meaning that retrofitting projects like replacing cladding will open up new work avenues ☀️ Energy Efficiency Upgrades: The scheme will support energy-efficient home upgrades, which will include solar panel work and more Read the full announcement here: https://zurl.co/LtNm