Tag Archives: real-estate

Culture

LSD Guru Timothy Leary Acid House Now For Sale

Leave a comment
Historic New York Estate Also Has Ties To Addison Mizner & Standard Oil!
Via our friends at toptenrealestatedeals.com
In what might have been the best New York real estate deal since the Dutch bought Manhattan in 1626 for $24 usd/ $33 cad in trinkets, one of New York’s historic properties, which includes a 38-room Victorian mansion, a 10,000-square-foot guest home, a stone bowling alley, a carriage house, a gatehouse, and much more on 2,078 acres, has hit the market for $65 million usd/ $ 89,101,000 cad. The property last sold for just $500,000 usd / $685,600 cad in 1963, when Standard Oil president Walter C. Teagle sold the long-neglected property to brothers Billy and Tommy Hitchcock, heirs to the Mellon family fortune. If it gets its asking price, it will more than triple the record for a real estate sale price in the Millbrook area, which currently stands at $19 million usd/ $26,053,000 cad.

The Hitchcock estate, also known as Daheim (“at home” in German), became infamous in the 1960s as the domain of Harvard psychologist-turned-LSD-evangelist Timothy Leary, who used the property for psychedelic experimentation for five years. Nina Graboi, an influential figure in the psychedelic movement, described the scene as “a cross between a country club, a madhouse, a research institute, a monastery, and a Fellini movie set.” Considered “the most dangerous man in America” by Richard Nixon, Leary hosted such counterculture luminaries as Allen Ginsberg and attracted frequent raids by the FBI, which eventually caused him to leave. The estate fell into disrepair but has undergone extensive renovations in recent years that have restored it to its former glory. Photo Credit Tyler Blodgett/ Heather Croner Real Estate Sotheby’s International Realty
Vintage

Freddie Mercury’s London Home Offered For Sale

Leave a comment

One of the greatest rock frontmen of all time, Queen’s Freddie Mercury was famous for his theatrical style and four octave vocal range.

Born Farrokh Bulsara in Zanzibar, he fled to England with his family in the wake of the Zanzibar Revolution, in which many Arabs and South Asians were massacred. Settling near London, he studied graphic art and design (which he would later use to design Queen’s logo) and sold second-hand clothes with future Queen drummer Roger Taylor at the Kensington Market.

Garden Lodge- Trees in bloom

He fronted a series of bands, but his career really took off in 1973, when he joined with Taylor, guitarist Brian May, and bassist John Deacon to produce Queen’s first self-titled album. He would perform over 700 shows with the band, thrilling sold-out stadiums with his unique style and strong connection to his audience. He died of AIDS in 1991, but his music lives on, with Queen’s Greatest Hits the best-selling album of all time in the UK, and two of his songs “We Are The Champions” and “Bohemian Rhapsody” voted best songs of all time in major polls, and his induction into the Grammy Hall of Fame. 

Mercury left his Kensington home to his former partner and longtime friend Mary Austin.

Garden Lodge- Dining Room.

Though he would pursue romantic relationships with men, he considered Mary the love of his life and common-law wife. Garden Lodge is a stunning Neo-Georgian mansion which served as Mercury’s “country house in London”, a sanctuary from his high-intensity life on tour. Meticulously preserved for thirty years by Austin, this time capsule of music history is offered for sale for the first time since Mercury’s purchase in 1980, accepting offers in excess of £30m ($38m usd/ $51.7m cad). 

Freddie’s grand piano which once lived at Garden Lodge sold via Sotheby’s Auction for $2.2m USD/ $2.96m CAD.

Garden Lodge’s centerpiece is a two-story drawing room, which once housed the grand piano on which Mercury composed his signature hit, “Bohemian Rhapsody.” French doors lead from the Japanese sitting room to the beautiful gardens. Every room of the house is infused with Mercury’s vibrant personality, with design choices made personally by the artist, including citrus-toned yellow walls in the intimate dining room, and floor-to-ceiling mirrors in the lavish dressing room that once housed his extensive collection of stage costumes. Surrounded by stone walls, the chance to own this unique cultural landmark is a once-in-a-lifetime opportunity. 

Garden Lodge- A view from the hall looking towards the famous ‘Green Door’.

According to Austin, “This house has been the most glorious memory box, because it has such love and warmth in every room. Ever since Freddie and I stepped through the fabled green door, it has been a place of peace, a true artist’s house, and now is the time to entrust that sense of peace to the next person.”

Freddie- at home in Garden Lodge and in bed eating a meal that needed a peppermill close by.

Kensington is an upscale London neighborhood known for its stately Victorian homes. Nearby options for entertainment include the Natural History Museum, the Design Museum, Kensington Palace, and Kensington Gardens. The chic boutiques on Kensington High Street and star-studded concerts at Royal Albert Hall are both within walking distance. Popular with celebrities, the neighborhood’s notable residents include Eric Clapton, Stella McCartney, Rowan Atkinson, and Dido. For the Silo, Bob Walsh/toptenrealestatedeals

The listing is held by Knight Frank. Photos of Garden Lodge courtesy Knight Frank.

Finance

Even Tropical Realty “Feeling The Pinch” As Bahamas Island Lists Without Reserve

Leave a comment

A Bahamas Island You Can Own! (Maybe)

If you want to live like Nicolas Cage, David Copperfield, Johnny Depp, Faith Hill and Tim McGraw, who own islands in the Bahamas, the 721-acre Little Ragged Island is going to auction.

Little Ragged Island, also known as St. Andrews, is currently listed at $14.5 million USD or $18.8 million CAD. This pristine island is located on the southernmost part of the Bahamas with miles of sandy beach and the Bahamas’ calm, blue waters. The property will sell with “no reserve” to the highest bidder regardless of price.

According to the listing from Sotheby’s Concierge Auctions, “St. Andrew’s offers a blank canvas of rolling hills and calm warm waters awaiting boundless opportunities for development.

Be it a picturesque residential settlement, an expansive tropical estate with miles of private beaches to wander, or a boutique resort with more than enough acreage left to add an entire 18-hole golf course. Surrounded by azure ocean waters and fringed with pristine white sand beaches, elevations vary from sea level to a hilly 40 feet (12.2 meters).”

The auction runs from July 25th to July 29th at Sotheby’s casothebys.com website. Buyers can bid remotely from almost anywhere in the world. From our friends at toptenrealestatedeals.com.

Culture

World’s Largest Swapping Network Even Lets You Trade Your House

1 Comment

LOS ANGELES. HomeExchange – the world’s largest home exchange network with over 65,000 active listings in 150 countries – has launched HomeExchange Gold, an extension of its offering that caters to the luxury segment with a set of premium, personalized services.

“HomeExchange has always offered top-notch member support. As exchangers, we have it in our DNA,” said Jim Pickell, President of HomeExchange. “The depth of experience across our regionalized Support Team has been a signature of our commitment to the concept of sharing since we launched 24 years ago. We are excited to push the standard of service even higher, unparalleled in the industry, through HomeExchange Gold. This launch is about offering a Gold level of support to help ensure members find the right fit, not just a five-star home.”

HomeExchange Gold membership is ideal for home exchangers who have multiple homes or are looking for more personalized service through a dedicated Gold Exchange Specialist, reachable by phone, email or chat at anytime, from anywhere. The standard HomeExchange guarantee still holds of unlimited exchanges worldwide with no extra fees.

Even sailboat listings! Like this one in Greece.
Even sailboat listings! Like this one in Greece.

HomeExchange Gold premium services include the Gold Exchange Specialist’s real-time assistance in optimizing profiles and listings for maximum exposure; and on-demand, personally curated listings – the best possible options – based on travel preferences like dates and destinations, number of bedrooms required, amenities (pool, beach, wi-fi, car…) and any special needs.

HomeExchange Gold members have a choice between connecting exclusively with fellow Gold members or making their listing visible to the entire community.

“Luxury today is about personalization, on-demand service, flexibility and freedom of choice,” explained Peter Anton, Director of Global Marketing. “HomeExchange Gold aggregates these four components as a first-class facilitator ensuring a great home exchange vacation.”

how home exchange worksThe higher level of service was added in response to demand by the growing segment of owners with second homes seeking to connect with others like them. However, based on the principle of flexibility and freedom of choice, all HomeExchange members will continue to be able to choose between traditional membership or upgrade to the more personalized level of service through HomeExchange Gold.

“We are very excited to launch this inclusive offer of premium services, available to all in our current community, as well as future members. Travelers have different needs and we now have different levels of service to enhance their home exchange experience,” concluded Anton. For the Silo, Alexandra Origet du Cluzea

At the time of writing, “HomeExchangeGold” annual membership is $560 Cdn and regular “HomeExchangeRegular” annual membership is $170 Cdn.

About HomeExchange

Founded by Ed Kushins, a pioneer of the “collaborative consumption” movement, HomeExchange has facilitated over one million home swaps since 1992. It was featured in 2006 in the cult movie “The Holiday” starring Cameron Diaz, Kate Winslet and Jude Law. In 2015, 65,000 HomeExchange members made 130,000 home swaps across 150 countries.  HomeExchange makes it easy to plan and enjoy a home exchange vacation and offers travelers a memorable, authentic experience. It was voted in November 2015 “Best Site for Booking Your Stay” by readers of USA TODAY and 10Best.

Culture

How Improper Tiling Will Wreak Havoc On Home Value & Your Health

Leave a comment

ICYMI: Poorly installed tile can cause serious health issues due to mold, and significantly decrease  home values. Gregory Norman, founder of BathMasters, highlights the advantages of hiring a professional for tiling projects and encourages homeowners to resist cutting corners.

(Clearwater, FL) —The homeowner improvement and repair market reached $317 billion USD in 2017 alone and continued to hover around that mark right up to this year-even when factoring in Covid, (1) and the number of homeowners utilizing DIY and unlicensed contractors for renovations is also on the rise.

13% of all households undertook a bathroom remodel or replacement project in the past 5 years, and of those, 42% failed to use a licensed contractor.(2)

The risks associated with improper renovations—especially tiling—can not only slash a home’s value, but also prove hazardous for homeowners’ health, warns bathroom renovation company BathMasters.

When it comes to bathroom overhauls, homeowners are generally unprepared for surprises, such as mold or leaks that can be hiding inside walls and beneath floors.(3) Improper tiling performed by a homeowner or unlicensed contractor can inadvertently allow water to seep in, facilitating accumulation of mold spores and thereby causing serious damage to a homeowner’s house and personal health.(4) Per BathMasters founder, Greg Norman, statistics show that in all remodeling projects, tile showers are the number one botched renovation.

Norman says the room for error is vast; if the underside of the shower pan is not waterproofed, or the membrane going to the drain is improperly installed, costly leaks and mold can – and likely will – occur.

(3) And the risks are alarming: mold and water damage under shoddily-installed tiles can cause heightened asthma problems, skin rashes and even autoimmune diseases.(4) Per Norman, preserving health and the value of the home are invaluable to cutting corners on a renovation project.

“No home renovation project in the world is worth putting one’s health at risk,” said Norman. “Additionally, home renovations are intended to increase the value of a home; DIY projects or renovations done by unlicensed contractors run completely contrary to that.”

Although it may seem like homeowners can save money by not using a licensed contractor, even a small defect can significantly devalue a property. Most cities require homeowners to tear out walls, along with any ceramic wall tiles, if the renovation project wasn’t inspected by the city beforehand. Also, a home appraiser may not include a non permitted addition in the square footage for the home value, which could cost homeowners thousands of dollars.

When considering home renovation projects that include electrical work, plumbing jobs, tiling or knocking down walls, hiring a licensed contractor is key.” Norman went on to say that when hiring a contractor, homeowners need to do their homework by checking reviews and ensuring that permits are being pulled consistently.

“BathMasters regularly replaces showers that have been done incorrectly by unlicensed contractors, generally within five years of installation.

The company is dedicated to providing the highest quality work; as such, its team is equipped with specialized training from the Tile Council of North America in South Carolina, enabling its contractors to offer customers the highest standard of work for all bathroom renovations. For the Silo, Ashley Richardson.

About BathMasters:

BathMasters is a Virginia plumbing, electrical and building contractor with showrooms and warehouses in Northern Virginia and the Tampa Bay Area (Florida). BathMasters is rapidly expanding to meet the demand of its customers for high-quality, full-service bathroom renovations and tub-to-shower conversions built to withstand the test of time. With thousands of custom bathroom remodel jobs under its belt, BathMasters has become the premier choice for all bathroom renovation needs.

Co-founders and brothers Gregory and David Norman grew up in a family of masters: their father was a master plumber, and their uncles worked as a master electrician, master carpenter, and class A home builder. The Norman family legacy has always been about high-quality work, never cutting corners, and an unparalleled commitment to communication, honesty and integrity in their dealings with homeowners. It is this legacy that Gregory and David carry forward at BathMasters. Their mission is to improve the skill level of bathroom installers through their extensive workforce training programs, to the benefit of homeowners and the industry itself. Visit BathMastersVirginia.com and BathMastersFlorida.com.

  1. Donahue, Kerry. “STRONG AND STABLE GROWTH PREDICTED FOR HOME IMPROVEMENT AND REPAIR MARKET IN 2017.” Joint Center for Housing Studies. N.p., 19 Jan. 2017. Web.
  2. Webb, Craig. “Homeowners Hired Pros to Remodel 66% of Kitchens, 58% of Baths, NKBA Survey Finds.” Remodeling. N.p., 11 Jan. 2017. Web. 09 Mar. 2017.
  3. LaPonsie, Maryalene. “7 Reasons to Back Away From DIY Home Improvement Projects.” Money Talks News. N.p., 22 Apr. 2015. Web. 28 Feb. 2017.
  4. Is Your Home a Death Trap? How Mold Affects Your Health and Your Home’s Value. N.p., n.d. Web.
Transportation

Porsche Tower Condos Allows Owners To Take Cars Up In Elevator

2 Comments

 New York City is home to over 70 of the world’s billionaires, but when they want to get away to decompress, many shed their suit and tie for a guayabera, white slacks and boat shoes and head to South Florida for the white sand beaches, fine dining, yachting and golfing. Some have been heading to Sunny Isles, Florida where, according to the developer, over 20 billionaires have purchased a home at Porsche Design Tower.

What a space! What a view!
What a space! What a view!

New owners at the Porsche building were the first in North America to be able to take their cars up an elevator to their personal sky garage, including the $USD 32.5 million penthouse. Three patented Dezervators, a glass drive-in elevator rising at 600-feet per minute, will enable residents to keep an eye on their Ferraris, Porsches and Rolls Royces while sitting in their living rooms reading the Wall Street Journal and checking out the Atlantic Ocean views.

The 60th-floor Porsche penthouse comes with a huge living and dining area, state-of-the-art kitchen, family room and four ensuite bedrooms with a total of seven baths, floor-to-ceiling glass walls, 20-foot ceilings and a private people elevator. The outdoor living areas are equally impressive with a private terrace pool and roof pool, two balconies and two summer kitchens. It has two sky garages and a separate 3,000-square-foot car gallery. The gallery can be customized by the owner for fewer cars to substitute a game room or extra living space.

Porsche Tower Interior1Building amenities include a three-story lobby with glass car elevator observatory, movie theater, game room, oceanside restaurant with indoor/outdoor dining, private wine lockers, oceanside bar and lounge with fireplace and large-screen TVs, oceanfront pool with food and beverage service, Intracoastal Waterway sunset deck, virtual golf simulator, virtual car-race game, ballroom with bar and catering kitchen, oceanfront gym and yoga room, spa, sauna, steam rooms, hair salon and a car concierge available to give the luxury cars a wash and maintenance.

Porsche Tower Interior2Having broken ground in 2014, the tower is now sold out.

The penthouse is priced at $32.5 million; other units when remaining were listed for sale starting at $6.2 million. Porsche is located in Sunny Isles – a ritzy part of the Atlantic Ocean stretch of Miami Beach to Fort Lauderdale condos. The developer is Dezer Development in Sunny Isles Beach, Florida.

In Other Real Estate News- “San Francisco Clock Tower Penthouse”.  Few can say that they start off their dinner parties with cocktails inside a century old clock. That is to say, no one except the new owners of this historic three-level landmark loft apartment gleaned from the clock tower of a factory in San Francisco’s South of Market neighborhood that was converted into live-work spaces in 1992 by architect David Baker.

The historic clock tower was constructed in 1907 and the large building complex that supported it became the West Coast’s largest printing company by 1921. The owner of the business, Max Schmidt, decided to construct a penthouse level in the clock tower where natural light poured in from all four sides of the clock faces so that his lithographers would find it easier to work. In 1930, the plan for the new Bay Bridge was solidified, which would require tearing down a portion of the printing buildings, including the clock tower. Schmidt would have none of that and used his clout, threatening to move his business to the other side of the bay. The city, unwilling to lose one of their largest businesses, gave in and agreed to take the highway around Schmidt’s complex and the tower was saved. In 1992, the old factory was repurposed into 127 contemporary live/work lofts and offices. Commuters have come to depend on the clock as they travel to and from work each day.

Now for the first time in almost a quarter of a century, the penthouse is for sale. The sleek contemporary condo with spectacular city views measures in at a spacious 3,000 square feet of living space, including a room inside the clock itself and has large wrap-around terraces providing outdoor space for lounging and entertaining. The two-bedroom, two-bath residence has been designed to optimize the loft’s spaciousness with an expansive living-dining room divided by a double-sided glass fireplace with French doors opening to the terrace. Original brick walls, hardwood and polished concrete floors and built-in bookcases following the lines of the beams are highlights of the structure. Included are a gourmet kitchen with top-end appliances and space for a table, office, game room, library, large master suite and the clock room.

San Francisco’s historic registered Landmark Clock Tower four-story penthouse loft apartment with conversation piece furnished room inside the clock is listed at $8.5 million.

Visit TopTenRealEstateDeals.com for more celebrity homes and real estate news. For the Silo, Terry Walsh.

Culture

Big Money! When North America’s Most Expensive Home Was For Sale

2 Comments

In 2016, the most expensive home on the U.S. market was in Manalapan, Florida and priced then at USD$195 million. Let’s take a look back in this feature via our friends at TopTenRealEstateDeals.com. as North America’s elite homes get more elaborate and expensive every year.

Looking for privacy?
Looking for privacy?

The mansion that was at the top of the price list a year earlier in 2015 near Fort Lauderdale, Florida was priced at USD$159 million and came with its own IMAX theater, a USD$2 million staircase and an entry gate decorated with 22-karat gold leaf. This year, Southern California has the #2 home on the market at USD$150 million with 38,000 square feet that was built on the site of Barbara Streisand’s former estate in Holmby Hills. In third place is Palazzo di Amore on 25 acres in Beverly Hills with 12 bedrooms and 23 baths at USD$149 million. An 11-acre estate in the Hamptons comes in at #4 for USD$140 million.

In 2016, Florida again claimed the top for-sale spot with the Gemini Estate near Palm Beach at USD$195 million. Designed by architect Marion Sims Wyeth and built in the 1940s for the Lambert pharmaceutical family (“Listerine kills germs that cause bad breath”), the Gemini estate was eventually sold to high-society couple Loel and Gloria Guinness as a winter retreat. It was purchased by the current owners, the Ziff publishing family, in the 1980s and underwent a four-year expansion and reconstruction that was completed in 2003.

Chillax zone.
Chillax zone.

Sited on almost 16 acres on a barrier island in Manalapan with over 1,500 varieties of tropical trees and plants acting as a nature preserve and privacy hedge from coastal highway traffic, the estate stretches from its 1,200 feet of Atlantic Ocean beachfront to 1,300 feet on the Intracoastal Waterway. The coral-clad main residence with over 62,000 square feet includes 12 bedrooms, 12 baths, two libraries, golf trophy room, kitchen with hand-painted tiles and three dishwashers.

Also, a seven-bedroom home named Mango House, a manager’s house with four apartments and two four-bedroom beach cottages with private quarters for extended family and friends. Grounds are thoughtfully planned with both activity and relaxation in mind. A sports complex offers a half basketball court, tennis court, practice golf course with two greens, a swimming pool surrounded by cultivated jungle, treehouse and butterfly garden, miniature golf course, a wide deserted beach and a boat dock with ocean access. A tunnel with its own living room and fireplace runs under South Ocean Boulevard to connect the mansion with the estate’s guest house and boat dock on the Intracoastal Waterway. Overall, the property totals almost 85,000 square feet of living space with 33 bedrooms and 47 baths.

InteriorThe walled compound can be self-sufficient with two generators, gas pumps and propane tanks. America’s most expensive home is listed by Joseph Liguori of Premier Estate Properties in Boca Raton, Florida at USD$195 million. For the Silo, Terry Walsh.

Fashion

Celebrity Homes: Andy Warhol Home Sold For $50 Million USD

Leave a comment

Warhol Home InteriorsMontauk, New York was celebrating its biggest estate sale ever after the closing on the 5.7-acre beachfront estate at $50 million USD that pop artist Andy Warhol bought in 1972 for $225,000 USD.

The most recent owner of the compound was CEO of J. Crew, Mickey Drexler, who bought it in 2007 for $27 million USD. He listed it in 2015 for $85 millionUSD that included a 24-acre horse farm and equine center, which the buyer, Adam Lindemann, opted out of the purchase. Lindemann is the founder of the Venus Over Manhattan Gallery and a major collector of Warhol’s works making the property’s history especially significant for him.

Warhol’s first gig out of art school was as a fashion illustrator for several of the top women’s magazines. With the money acquired from his illustrations, he purchased a large loft on New York’s West Side and opened the Factory, where he turned toward creating industrial art. It wasn’t long before the Factory and Andy were attracting like-minded modernists from hippies to wannabe journalists and actors to drag queens and drug addicts. It was the start of New York’s avant-garde scene where Warhol held court. In addition to his painting, he branched out into music, film and journalism where he met Paul Morrissey who became the director of some of Warhol’s early films.

Warhol Interior Large1

In 1972 when Warhol’s popularity and success were peaking, he and Morrissey decided to invest in property in the Hamptons and purchased the family fishing camp of the Church family of Arm & Hammer Baking Soda fame. The estate includes a 3,800-square-foot main house and five cottages completely hidden from public view with wide beaches and ocean views. Totaling almost 15,000 square feet with nine bedrooms and twelve baths, Drexler had it all meticulously restored by architect Thierry Despont.

Warhol’s stream of celebrity guests and renters put Montauk on the international map. Frequent guests included Liza Minnelli, Liz Taylor, John Lennon, Mick Jagger, Jackie Kennedy and Lee Radziwill. The parties were legendary and stories of happy days idled away on the Hamptons’ beach are recounted in many celebrity biographies.

Warhol Interior Large2

Even though the Warhol home sale set a record at $50 million USD, his most famous paintings such as “Eight Elvises” and “Silver Car Crash” have sold for $100 million USD and higher. The listing agent was Paul Brennan of Douglas Elliman Real Estate in Montauk, New York. Visit here for more information.

Supplemental– David Bowie as Andy Warhol in Basquiat

Culture

Who Owns Which Celebrity Mansion? Take The Quiz And Find Out

Leave a comment

This piece quizzes you by presenting the interior of some of the most lavish celebrity homes and asking which celebrity owns the property.

Look closely and think before making your choices- there are clues hidden…..somewhere.


Culture

Selling An American Comedy Icon’s UFO House

Leave a comment

It took awhile, but eventually, Bob Hope’s UFO house sold for $13 million USD, after first being listed in early 2013 with a price tag of $50 million USD.  Having gone through a couple of price cuts over the years, the most recent cut lowered the ask to $25 million USD.  But with no comparable homes available, how does one actually price a concrete space ship?  Seems that when $25 million was thrown at the wall, $13 million stuck.

 bob hope ufo house banner2

The Palm Springs spaceship/volcano house, designed for Bob and Dolores Hope by John Lautner in 1973, needed a buyer with deep pockets who would appreciate its futuristic leanings, had appreciation for architects who think outside the box and are young at heart enough to enjoy a bit of whimsy.  The buyer, California billionaire Ron Burkle, co-founder and managing partner of a private equity and venture capital firm, is well known in the Los Angeles area for his connections with the Clintons.  Sporting as interesting a persona as the house, Burkle is a prominent Democratic activist and fundraiser.  

 bob hope ufo house interior2

At 23,000 square feet under the dramatic high undulating roof, the unique house has open spaces in the walls and ceiling which allow daylight or stars to shine through casting shapely shadows into the interior. These curved openings also allow for stunning views across the landscape and mountains while appearing to be nestled comfortably into its well-designed desert landscaping and outdoor living areas. The house also has a spa with greenhouse wall, 6 bedrooms, 13 bathrooms, indoor and outdoor pools, a pond, putting greens and a tennis court.


Burkle collects other historic architecture and purchased the Frank Lloyd Wright Ennis House in 2011 and also owns Greenacres that was originally built for silent comedy film actor Harold Lloyd.  Patrick Jordan and Stewart Smith of Bennion and Deville Homes were the listing agents and Ron de Salvo of Coldwell Banker Residential Brokerage represented Mr. Burkle.  Even at the greatly reduced closing price of $13 million, the sale has set a record for the highest sale price in Palm Springs beating Lautner’s Elrod House that sold for $7.7 million two months earlier. For the Silo, Terry Walsh.

Culture

Pros And Cons Of Condo Living

Leave a comment

If you are considering taking your first steps onto the property ladder, you basically have a choice between purchasing a condo or purchasing a house. Which is right for you depends on your circumstances and wants/needs.

Condo living pros and cons

Royalty Free Photo

A condo encompasses more elements of apartment living which can have both its benefits and drawbacks, and it is important to weigh these up before you make a final decision and take on what is a huge financial undertaking. Why not check out the Mirvish + Gehry condo complex to see an example of what’s on offer and then come back here to find out more about the pros and cons?

#1: No Mowing the Lawn

One of the biggest pros of living in a condo is that there is very little to look after aside from the general cleanliness of your home, and even then, there’s not a whole lot of that in comparison to a house. Less square footage means less cleaning and no garden means you don’t have a lawn to mow, a garden to tend to or a roof to repair when things start to go wrong. This leaves you with more time to do things which you truly enjoy.

#2: A True Sense of Community

When you are living in a condo building, there’s a true sense of community between you and your fellow residents, especially when there are communal areas such as lounges and game rooms. This is much better than living in a street where people keep themselves to themselves and don’t get involved with each other. You will make more friends and develop relationships.

Community meet up in condo elevator
Image- liherald.com

#3: It Can Be Quite Noisy

The obvious downside to living in a condo vs. a detached house is the noise factor. When you live in a condo, you are adjoined to other people’s homes and sometimes there can be problems arising due to noise. Although modern condo buildings have good sound insulation, it’s not perfect and this is an important consideration if you are somebody who doesn’t like the slightest bit of noise from other people.

#4: You Can’t Choose Your Neighbours

Although you can’t pick your neighbours with a house, it’s easier to avoid them. When you live in the same block as neighbours whom you don’t like, avoiding them can be difficult as you are forced to share certain parts of the building with them. Although there can be a great sense of community, this can work in the other direction and be more of an inconvenience than anything else.

When it comes to deciding between buying a condo and a house, the decision can be very hard to make. It requires a lot of careful thought before you dive into it – you’ll probably be living in your condo for several years and it’s important to make the right choice. There are many other pros and cons associated with living in a condo vs living in a house, so before you commit to anything, carry on doing your research. For the Silo, Dimitry Karloff. 

Culture

What Single People Need to Do Before Buying A Home

Leave a comment

The usual route to home ownership tends to start with meeting a special someone. When you’re a couple and you want to begin a life together, it makes more sense to get a new home for yourself. You may plan to get a roomier home for the two of you, and especially if kids are part of your plan in the foreseeable future.

What if you’re single? That doesn’t mean that you can’t get a house in Montreal, or a condo in NDG (Notre-Dame-de-Grâce) or anywhere else in Canada. Here are some tips that can help if you’re single and determined to buy your own home:

  1. Get your finances in order. This is the first and most important rule, as money will always be an issue for you especially since you don’t have a partner to share the expenses. It can be problematic to get a mortgage when you’re single since you’re less likely to repay a loan than two people together who both work for a living. So, pay off your credit card debts, raise your credit score, finish paying for your car, and have enough money to put down 20% of the house price as down payment.
  2. Have lots of money in the bank. What if you lose your job right after moving into your own home? You’ll need money for all your expenses while you search for a new job. You need some money in your bank account that’s equal to three to six times your monthly wages. Keep in mind that as a homeowner you have to pay for your home’s upkeep along with home insurance and property taxes. 
  3. Make sure to account for all your possible expenses. First-time owners are often unpleasantly surprised when they encounter expenses that they don’t normally deal with when they were apartment tenants. Home ownership can be very costly, especially when you have to remodel your home. It’s also difficult to estimate what you’d have to spend, especially when you have a backyard to maintain.
  4. See if a condo makes more sense for you. In general, a condo unit makes a lot more sense than an actual house if you’re still single. A condo will probably be located closer to where you work. It’ll also be located right in the middle of the city you’re in, so entertainment establishments are conveniently nearer. A condo building can have amenities that you’ll appreciate when they’re nearby, such as a gym or a salon. It also provides you with more social opportunities to meet new people so that you’re no longer single (if that’s what you want, of course).
  5. Be conscious about security. Security is another reason why condos work best for singles as they usually have guards in the lobby to keep out strangers. If you’re living in your own house, you may want to put in a strong lock on your doors and perhaps on your gate. You should make friends with your neighbours, who can call the police when they see strangers in your home when you’re not there. A security camera tied into your smartphone can help as well, though a dog can also be useful.
  6. Look for houses with a friend. Couples have the advantage of having someone to discuss their home options so that they’re more certain of their choices. If you’re looking for possible homes to buy, make sure you call a friend to come along. They can help you think logically so your emotions don’t get the best of you.

Of course, one “side effect” of having your own home when you’re single is that you generally become more attractive to potential partners. Just make sure you buy the right home when you can actually afford it, so you can actually enjoy your new status as a homeowner. For the Silo, Dimitry Karloff. 

Sci-Tech

Terrific Tech Gifts You Can Give to a New Homeowner

Leave a comment

When your best friend moves into their new luxury residence say like these ones in Montreal, you may want to consider giving a high tech device for your housewarming gift. These new-fangled gizmos can really spice up any home, but they’re especially suitable for high end houses and condo units. Take a look at our suggestions for the new homeowner:

  1. Smart Smoke Alarm and Detector. Surely your buddy has fire insurance, but a smoke detector is still a sensible precaution. What sets this apart is that it’s rather more advanced than other models. You need a model to detect carbon monoxide and also send alerts to your Wi-Fi devices.

  2. Smart Home Security Camera and Alarm System. This is another smart device, which for luxury homes isn’t really foolish at all. Get them a wide angle camera with infrared, and it should be tied in to an alarm system that sends warnings and video straight to your smartphone. So you can make sure that you’re alerted when someone approaches your home, and you can get video evidence too.

  3. Programmable Coffee Machine. This is great for mornings when your buddy wants to have a cup of java right after they wake up. If it’s a smart coffee machine, then your buddy can have it start making coffee right before the alarm goes off so there’s no waiting for the caffeine.

4. Automatic Pet Feeder. Again this is another smart option, and this time you have a feeder that sets up automatic feedings. If you want, you can also set it up and have it feed your pooch or kitty while you’re at work.

5. Smart Weighing Scale. Everything’s smart these days, and that even includes a weighing scale. Ordinarily, it may not be polite to give a weighing scale even to a friend, since it may seem like you’re saying that they’re getting fat. But they may not think that weigh when you get them this version.

You can find one with a minimalist design and it can come with smart features too. This can track weight, calculate body fat, and perhaps even measure the pulse wave velocity. It should be compatible with a smartphone since it’s normally controlled through an app.

  1. Shower Speaker. Some people turn on their smartphones in the shower to get some music, but a waterproof shower speaker works better. The sound isn’t just nicer, but the waterproofing should help it last long. A device like this usually connects to a smartphone through Bluetooth. If you like listening to baseball radio broadcasts, you may want to get a speaker with FM radio.

  2. Wi-Fi Range Extender. Many luxury homes have huge floor spaces, and the Wi-Fi may not be strong enough if your buddies like to hang out in the garage or backyard. Thick walls can also block Wi-Fi signals. But with this device, everyone at home can go online wirelessly.

  3. 3D Nightlights. This may be marketed towards kids, but plenty of adults are intrigued by them too. These are disks that emit lights that look like 3D images, though they’re actually 2D. This can show designs like Ironman’s mask, Star Wars vehicles, or even Sanrio characters.

  4. Smart Thermostat. Try the one from Nest that was designed by the same person who created the shape of the iPod. It doesn’t just look cool, but it learns to automatically schedule and control your temperature. It turns itself off when no one’s home, and it starts heating or cooling your house when you’re on your way home.

10. Digital Art Frame. You know how your monitor can display cool wallpapers? You can have a frame that can do that too. It can display fine art or supermodels, depending on what images are saved in your smartphone.

Lots of these items are smart devices, and they’re all high tech. Get them for your buddy as the best housewarming gifts for luxury homes. For the Silo, Dimitry Karloff. 

Featured image- The $6 million Penthouse on the 12th and 14th floors of the Residences Ritz-Carlton Montreal. 

Earth

This May Be Last Chance To Save Ontario Greenbelt From Sprawl Developers

Leave a comment

Ontario’s Premier is facing intense pressure from real estate and development lobbies. These groups are peddling myths that are intended to weaken the Greenbelt and Growth Plans so that the development industry can build more sprawling cookie-cutter subdivisions, instead of building a greater range of family-friendly and affordable housing options. Send a message to the Premier to show your support for protected local food and water sources. Tell Ontario to stop sprawling developers from paving over the Greenbelt.

 

GOOD GREEN JOBS FOR ONTARIO Ontario’s plan to retrofit buildings to increase their energy efficiency will create nearly 33,000 jobs over five years. Our new report, Building an Ontario Green Jobs Strategy shows how the province can ensure it creates good jobs and career opportunities for people who need them most. Find out more.
Tips & tricks
for non-toxic spring cleaning		 While spring brings warmer weather, sunnier days, and beautiful flowers, it also brings the reminder that it’s time to air out, declutter our homes, and do some spring cleaning. With these tips, your home will be sparkling and toxic-free!

*Feature image- Perth, Australia’s unsustainable urban sprawl. photo: heraldsun.com.au

Click me to learn about Tree Planting incentives 🙂

Earth

Greenbelt Is Not Reason Housing Prices Are High In Greater Toronto Hamilton Area

1 Comment

Dear Silo, Right now, greedy developers are gearing up for a lobbying day they’ve organized at Queen’s Park on March 20. They intend to peddle the same lies they’ve been spreading in the news lately: that Ontario’s Greenbelt is the reason housing prices are high. They say there just isn’t enough room for new houses.

In reality, there’s an enormous amount of land in the Greater Toronto and Hamilton Area (GTHA) that is already set aside for development. 104,000 hectares, to be precise. That’s larger than the cities of Mississauga and Oakville combined!

But as we’ve seen, Ontario’s development industry doesn’t let a little thing like truthful facts get in the way of their business model. They want to weaken the Greenbelt so they can pave over more prime farmland and built the kind of 1950’s sprawl that is so lucrative for them.

Let’s not allow developers to turn a profit at our environment’s expense.

With developers descending on Queen’s Park on March 20, we have to show MPPs that Ontarians support protecting and growing the Greenbelt, not paving over it. Please join me by adding your voice today.

Erin Shapero
Greenbelt Program Manager

P.S: There are some legitimate reasons that house prices are high in the GTHA. The Greenbelt isn’t one of them. Please make sure decision makers know that you expect them to protect our Greenbelt by taking action today.

Culture

10 Ways You Can Make Money from Your Condo

Leave a comment

Many people are currently looking at Montreal condos for sale, as the present boom in the property market makes it an ideal investment. As these developments continue, Montreal is also becoming more and more attractive to employees, tourists, homeowners, and investors alike.

Planning to buy a condo and make money from it? Check out these tips:

  1. Assess your surroundings.

First, check your location and what that means for your rental property. Are you near offices? Are you in a family-friendly suburb? Are there other rental properties nearby? How much are they renting it out for? Check out the city government website for said information which can help you better estimate the possible return.

  1. Pick a target market.

Who are you renting out your condo to? This will dictate where you’ll advertise it and how much you’ll rent it out for. Try to pick a target market that’s not particularly saturated, especially considering the area where your condo is located.

  1. Force appreciation of your condo’s value.

Before you rent it out, you can actually force appreciation on its value by negotiating lower maintenance rates. If you can increase the efficiency of utilities like water and electricity, this will lower operating costs and increase value – making it more desirable to possible tenants.

  1. Prepare your condo for renting out.

You have to remember that you’ll also have competition, as you’re not the only rental property available. Depending on who you’re targeting, you should make it appealing and furnish it appropriately. By doing so, you’re making it the preferred choice of consumers.

  1. Put it out in the market.

Even if your condo is ready for renting out, that doesn’t mean you’ll automatically have tenants. You’ll need to advertise that the property available, and using the right channels is also key.

  1. Make all agreements clear.

Be very clear about your rental agreements. Is it a month-to-month contract or are you looking at something more long-term, like an annual lease? Who pays for the utilities? Who pays for the condo fees? Make sure the agreement between you and tenants is very clear to avoid future conflict.

  1. Rent out unused garage space.

Most condos come with a garage space, and you don’t necessarily have to include this in your rental package especially if your condo is in the city and your tenants don’t have a car anyway. You can always rent out the garage space as a lot of people are simply looking for a dependable parking space where they can park when going to work. .

  1. Rent out unused street parking space.

If your condo comes with street parking space, you can also rent this out separately to other tenants in the building.

  1. Consider other schemes.

Open your mind to other schemes for rental, like a weekday-only rental or short-term contracts. This is more likely to happen if your condo is located in a dense area like downtown Montreal, where you have office workers and tourists as well.

  1. Rent it out as office space.

If your condo is the studio type, you don’t have to make it residential. You can also rent it out as office space for professionals.

Culture

United States ‘ NSA Spy Town ‘ Going To Real Estate Auction

Leave a comment

An abandoned United States Navy Information Operations Command spy town with 80 homes and amenities such as bowling alley and football field is going to auction and featured this week by our friends at TopTenRealEstateDeals.com.

View from just outside the main gate.
                                                             View from just outside the main gate.

“United States Spy Town Auction”

It’s not the first time that an entire American town has gone on the auction block, but it might be the most unusual. Sugar Grove Station, West Virginia was originally a United States Navy military base to support part of the National Security Agency’s surveillance operation. Though the array of giant parabolic dishes that continue to track location and content of international telecommunications activity is still in operation and not part of the sale, they are completely obscured from view behind thick forest on their ridgetop one mile distant. When it became unnecessary to house related analytical staff at the base, it was retired in the fall of 2015 and put up for auction to the highest bidder over $1 million.

Lincoln Housing homes looking very inconspicuous.
                                   Lincoln Housing homes looking very inconspicuous.

Built between 1960 and 2014, the fenced and gated rural town has private full-service utilities to support as many as 500 people on over 120 acres. Included are 80 homes on tree-lined residential streets in like-new condition, a swimming pool, bowling alley, youth daycare center, community center with fireplace which was designed to function as a restaurant with bar, a gym, full-sized indoor basketball court, tennis and racquetball courts, a football field, large playground with kiddie pool, and twelve guest cabins for visitors. There are also several large buildings for multiple use as well as a four-section hobby building for working on cars, woodworking shop and other creative pursuits. For community safety, a police station and fire station are already in place.

Sugar Grove is surrounded by the George Washington and Jefferson National Forests between the Allegheny Mountains and the south fork of the Potomac River. It is located within a 13,000-square-mile area known as the National Radio Quiet Zone, so cell phones, WiFi and any equipment operating on radio frequencies are restricted from use. The Quiet Zone was established in 1958 by Congress so as not to interfere with the operation of the nearby parabolic dishes or the National Radio Astronomy Observatory 30 miles away.

Interior of dorm housing unit. Note the security desk.
                               Interior of dorm housing unit. Note the security desk.

Former U.S. Navy base, Sugar Grove Station, perfect as a corporate retreat, academic campus, corporate training center or left to one’s imagination is up for auction by the U.S. General Services Administration with a minimum bid of $1 million. Auction ending date not yet determined. For the Silo, Terry Walsh.

Visit TopTenRealEstateDeals.com for more photo’s and for other famous homes and real estate news.

 

 

Vintage

First “Party Star”, Socialite Dorothy Taylor’s Beverly Hills Mansion For Sale

Leave a comment

“The Countess of Beverly Hills Mansions” Before Paris Hilton and Kim Kardashian, socialite Dorothy Taylor may have been the first Hollywood celebrity who wasn’t in the entertainment business. She was the ultimate party host and frequent 1930’s scandal rag fodder. Her lovers included Gary Cooper, Bugsy Siegel, George Raft and an Italian count.

Dorothy Taylor Countess Of Beverly Hills And Interior 3Dorothy’s trip to celebrity fame began after she inherited $12 million in 1916, the equivalent of about $275 million today. The first thing she did with her money was divorce her British aviator husband, Claude Grahame-White, and embark on a long party in Europe’s best circles. In 1923, she married Italian Count Carlo Dentice di Frasso, many years her senior. On the outskirts of Rome, the new countess acquired and restored one of Europe’s most famous homes, Villa Madama, that had been designed in the sixteenth century by Raphael. It was later used by Benito Mussolini during World War II for National Fascist Party functions.

While residing in the villa, actor Gary Cooper was doing a movie in Rome and became quite ill. Dorothy took him in and during his recuperation began an intense affair with him under her husband’s nose. Since she and the count were at that point leading separate lives, Dorothy went on with the affair and moved to Hollywood where she purchased a mansion in Beverly Hills. Making friends of some of Hollywood’s most important stars through her Cooper connections, Dorothy called in the best decorators and landscapers and created a luxurious estate that was classic Art Deco filmdom glamour. Dorothy and Cooper eventually went their own ways but remained distant friends. She was always known as the woman who taught Gary Cooper how to dress, making him the most elegant man in Hollywood.

Dorothy Taylor Countess Of Beverly Hills And Interiors

Through her new Hollywood friends, Dorothy eventually rented her mansion to Marlene Dietrich and headed off to search for sunken treasure on the studio-owned schooner, Metha Nelson; Captain Bligh’s ship in the 1935 movie “Mutiny on the Bounty.” Also on the ship was American gangster Bugsy Siegel. Although the trip turned into a disaster when the schooner was tossed violently by 70 mile-per-hour gale winds that split the main mast and destroyed the sails, it was the start of a new affair with Bugsy.  She always rejected gossip of her association with Bugsy, instead referring to him as Benjamin to her friends.

In 1947, Dorothy sold the Beverly Hills house to MGM pianist Jose Iturbi, who lived there until he died in 1980. In 1954, Dorothy died of heart failure in a train compartment while she was traveling with George Raft from Las Vegas to Los Angeles after attending one of Dietrich’s performances.

Hand painted murals & mirrored verre églomisé panels.
Hand painted murals & mirrored verre églomisé panels.

Once again for sale, the beautifully preserved Spanish Revival estate hasn’t changed much since its heyday in the 1930s when it was featured in “House and Garden.” At approximately 8,000 square feet, it has four bedrooms and five baths on 1.12 acres. The home was built for entertaining with large public rooms and although it looks like wallpaper, the walls are covered in hand-painted murals. In the dining room, the walls are mirrored verre églomisé panels that depict towering palms. There is also a two-bedroom guest house and pool nestled within the mature landscaped grounds. The asking price is USD $26.9 million. Dimitri Velis of Hilton and Hyland in Beverly Hills is the listing agent. For the Silo, Terry Walsh.

Visit our friends at TopTenRealEstateDeals.com for more famous homes and real estate news.

 

Fashion

Celebrity Homes: Donald Trump’s First Mansion Is For Sale $54 Million USD

Leave a comment

Donald Trump’s former Connecticut mansion that he bought at age 35 is for sale and featured this week at TopTenRealEstateDeals.com.
Donald Trump’s former Connecticut mansion that he bought at age 35 is for sale and featured this week at TopTenRealEstateDeals.com.

Donald Trump was born into the real estate business in 1946 in New York City where his father, Fred Trump, was a developer. Donald got a jump-start in the business while he was still in college in the 1960s working menial jobs at his father’s lower middle-class apartment complex in Cincinnati.  In 1971, he moved back to New York City where he took over his father’s company changing the name to The Trump Organization and earned a reputation as a fast-rising real estate tycoon on hotel, condominium and casino projects. In 1986, he made a deal with New York City Mayor Ed Koch to renovate Central Park’s Wollman Rink. The ice skating rink was going on its seventh year of renovations when Trump volunteered to finish and finance the restoration with his own money. He completed the job in just three months.

With his business success and wealth, Trump owns a roster of mansions. His main home is a posh three-level penthouse at Trump Tower on New York’s Fifth Avenue where he also runs his vast business operations. Also in the Gotham area, in 1996 Trump purchased a 60-room mansion in Bedford, New York with three pools and a bowling alley. He later bought Albemarle, a 23,000-square-foot mansion, vineyard and winery on 2,000 acres in Virginia for $12.7 million, a fraction of the original asking price of $100 million. Trump also keeps a large home on Rodeo Drive in Beverly Hills.

One of the interior sitting rooms in Trump's first mansion.
One of the interior sitting rooms in Trump’s first mansion.

When he isn’t running for president, firing someone or saying something controversial, Trump relaxes at his Mar-A-Lago mansion in Palm Beach, Florida that he purchased in 1985 for $10 million. The 1920’s mansion with 62,000 square feet and over 100 rooms was originally built for Post Cereal heiress, Marjorie Merriweather Post. Trump upgraded it to a private resort with initiation fees of $100,000, annual dues of $12,000 and nightly rates up to $3,000. Mar-A-Lago guests have included Bill Clinton, Regis Philbin, Tony Bennett and Barbara Walters.

Trump was only 35 in 1982 when he and wife, Ivana, purchased their first mansion, a 5.8 acre home on a peninsula in Greenwich, Connecticut for $4 million. Always a family-oriented business, Ivana was also remodeling the Plaza Hotel in Manhattan in the early 1980s and was able to incorporate many of the same materials in the decoration of their new home creating a residence dripping in gold leaf, elegant chandeliers and crown moldings. When they divorced in 1991 after 15 years of marriage, Ivana won the mansion in the property settlement. She sold the Greenwich home for $15 million in 1998, and the mansion’s new owners immediately began a renovation to tone it down to more livable neutrals and added tennis courts as well as a 4,000-square-foot addition which includes guest suites, a lap pool and a sauna. It is currently for sale at $54 million.

Click to view on I-tunes
Click to view on I-tunes

Originally built in 1939, the 19,773-square-foot Georgian Colonial-style main house and a guest house have eight bedrooms, thirteen baths, a three-story rotunda foyer with double grand staircase, formal rooms overlooking views of the pool, grounds and Long Island Sound, home theater, a putting green, multiple terraces and patios, tennis courts and three fully-equipped staff apartments.

Awaiting a new Greenwich billionaire resident, Donald Trump’s former Connecticut mansion with major additions, six waterfront acres and private boat dock. The listing agent is Tamar Lurie of Coldwell Banker in Greenwich, Connecticut.

Real estate is never boring at TopTenRealEstateDeals. Check out today’s most entertaining, important and unusual real estate news stories of the week. News such as “Obama Vacation Home For Sale,” “Bacall’s Dakota Apartment Sells At Big Profit” and “New York’s First Penthouse.”

Visit TopTenRealEstateDeals.com for more historic, spectacular and celebrity homes.

Culture

Why are Ontario farmland values skyrocketing? Greens: due to development

1 Comment

Ottawa, ON – Green Party leader and Guelph candidate Mike Schreiner called for the complete protection of prime farmland in Ontario.
“We can’t eat subdivisions, quarries or pipelines,” said Schreiner while attending the Association Municipalities of Ontario Conference
in Ottawa.

“The Ontario government must stop destroying prime farmland before it’s too late.”  Only five percent of Ontario’s land mass is suitable for growing food. Less than 0.5% is prime farmland. Yet Ontario is losing approximately 126,000 acres of farmland each year to development.

“People are tired of the Liberal’s bait and switch government that says one thing and does another. The government’s local food act is meaningless if the Liberals fail to protect prime farmland,” added Schreiner. “There will be no local food if the province continues to lose farmland at a rate equal to the size of Toronto each year.”

Farmland under development threat

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Green Party is pushing the government to protect prime farmland from development in the new Provincial Policy Statement, which is currently under review. Schreiner is the only political leader to sign the Food and Water First pledge to protect farmland and source water regions. He has challenged other political leaders to sign the pledge.

“Good soil is priceless and must be protected. It is a shame no Liberal, NDP or PC MPP has taken a simple pledge to put food and water first in Ontario,” said GPO deputy leader Kevin O’Donnell. “The Greens will always put food and water first before developers, quarries and pipelines.”    CP

Big rise in per acre value in only 12months. We're not sure why but Norfolk County and Haldimand County farmland values are missing from this chart and we were unable to find those stats anywhere on the RE/MAX farm realty site.
Big rise in per acre value in only 12months. We’re not sure why but Norfolk County and Haldimand County farmland values are missing from this chart and we were unable to find those stats anywhere on the RE/MAX farm realty site.

 

Supplemental- Ontario farmland values are skyrocketing http://www.fcc-fac.ca/en/aboutus/media/flv_spring2013_on_e.asp

RE/MAX Agricultural Real Estate is bonafide- Farm Market Trends- http://www.slideshare.net/SandraDales/remax-market-trends-report-farm-edition-2011

 

 

Culture

Ontario takes actions to eliminate deficit- LCBO headquarters for sale, will end public funding of horseracing

1 Comment

Ontario will end tax payers subsidy of horseracing and sell the LCBO headquarters in its efforts to combat the provinces deficit

Ontario’s newest actions to eliminate the deficit are critical to job creation and economic growth, says Minister of Finance Dwight Duncan. The Ontario government is moving forward with a responsible plan to eliminate the deficit so that more jobs are created and the economy continues to grow.

Since the introduction of the 2011 Budget, growth in the global economy has slowed. This means additional steps must be taken to slow down the rate of growth of government spending in order to keep the plan to eliminate the deficit on track.

Ontario Finance Minister Dwight Duncan outlined today the next steps in the government’s plan to eliminate the deficit. These steps will give Ontarians better value for money and lead to improved public services.

The LCBO headquarters, currently located on some of the most valuable, under-developed real estate in Canada, will be sold and redeveloped. A retail store will remain in the vicinity while the headquarters will be moved. The LCBO will realize ongoing savings and after the land is sold and a new, modern facility is built, it is expected to generate well over $200 million for taxpayers.

The government will move to greater involvement of the private sector in ServiceOntario through a strengthened public-private partnership. This will deliver better value for money and improve customer service for families.

Since 1998, Ontario taxpayers have been supporting horseracing with a subsidy of up to $345 million a year. The province will evaluate that subsidy given the need to continue to invest in health care and education.

Minister Duncan reiterated that the government is on track to meet its deficit target this year, and said these new measures will help ensure the government stays on track to eliminate the deficit by 2017–2018.

QUOTES
“Eliminating the deficit is essential to continued economic growth and job creation. A strong economy supports the schools and hospitals families rely on. Our plan will eliminate the deficit by 2017–2018.”
— Dwight Duncan, Minister of Finance

QUICK FACTS
 The LCBO property currently includes head office space and a large warehouse dating from 1954. It also contains a flagship store, which will be redeveloped nearby.
 About two-thirds of ServiceOntario’s in-person service locations are already operated by private sector partners.
 With 17 locations, Ontario has more racetracks and provides more public funding than any other place in North America. The cost of the current horseracing subsidy would pay for over 27,800 hip or knee replacement surgeries or provide over 9 million hours of home care.

LEARN MORE
Read about the revitalization of Ontario Place. Read http://www.ontario.ca/en/initiatives/progressreport2011/index.htm

FOR MEDIA INQUIRIES ONLY:
Aly Vitunski, Minister’s Office, 416-325-9819
Scott Blodgett, Ministry of Finance, 416-325-0324
www.ontario.ca/finance-news
*Disponible en français