Real eState
Old Windsor jail is up for sale — again
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The former Windsor jail on Brock Street is once again up for sale.
The jail was sold at auction to the current owners in 2019 for $150,000. They are now asking $1.4 million for it.
Real estate agent Silky Khullar of Re/Max Preferred Realty Ltd. said the owners have not done anything with the property because of restrictions imposed by the Sandwich Heritage Conservation District, which covers Sandwich Towne.
The building dates back to 1925. It closed in 2014 with the opening of the South West Detention Centre.
Residents would like to see something done with the property, which has fallen victim to vandalism over the years.
“I’ve been here for almost 20 years, living close to the jail to watch it degrade as time went by. And usually if you do something with properties initially, you don’t get the criminal activity in there,” said resident Marcel Larsh.
Ward 2 Coun. Fabio Costante would like to see an active use for the property.
“Hopefully the successful proponent, whoever does purchase this property, does something for the jail to activate it again and make it a good community use,” said Costante.
“You know we are in need of parking, housing, any commercial space and anything that could add to the community,” said Sandwich Towne BIA chairperson Sonia Klinger.
Windsor West MPP Lisa Gretzky is critical of how the Ford government handled the sale of the property.
“The old Windsor Jail, registry office, and parking lot would have been a perfect opportunity to preserve a historic heritage site as a community-orientated space that could have become affordable housing, a community centre or a museum — as just a few examples,” said Gretzky in an email to CBC News.
“In 2018 I joined community members and residents of Sandwich Town and called on the provincial Conservative government to protect and preserve this site. Instead, Ford’s Conservative government sold it for pennies in 2019 without any community input — and it seems like they didn’t put any guardrails in place to ensure that it was redeveloped with the community in mind.”
Costante says the buildings are important to the communit,y and so is the parking lot next to MacKenzie Hall, which is part of the property.
“I would love to see the city control the parking lot so that it be city-owned,” said Costante.
The city is currently leasing the parking lot from the owner but the city is keeping the price tag confidential. It’s not clear whether the city could end up owning it or not.
“The parking lot is not part of the sale,” said Khullar, who is trying to confirm whether her clients intend to keep the parking lot and sever it, or if they don’t own it anymore.
Khullar said her clients are remaining anonymous and will not be making any statements.
The current lease on the parking lot expires next May.
Real eState
Toronto real estate class-action could affect billions of dollars in commissions – Financial Post
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While Katy Perry prepares to take the stand in court, a bill with her name might be going to DC.
The “Fireworks” songstress and her partner Orlando Bloom are currently tied up in a legal battle with 84-year-old Carl Westcott, the founder of 1-800-Flowers, who claims he was on painkillers when he agreed to sell the couple his Santa Barbara mansion. Perry and Bloom are not named in Westcott’s filing, which is against the couple’s business manager, Bernie Gudvi.
As the trial rages on, members of the Wescott family are throwing their support behind a newly launched campaign for the Protecting Elder Realty for Retirement Years (PERRY) Act. “The Katy PERRY Act addresses the risks of elder financial abuse, especially as it relates to property and real estate sales and transfers,” a website for the act explains.
Representatives for Perry did not immediately respond to EW’s request for comment.
Jason Kempin/Getty Images Katy Perry
In an op-ed for The Federalist, Carl Wescott’s son, Chart Wescott, called upon California and other state legislators to pass the act, which establishes a 72-hour grace period during real estate sales and transfers of personal residences that allows either party to rescind the agreement without penalty, if one party is over the age of 75.
The website also lists the 38 state and local politicians who are backing the act.
Per PEOPLE, Perry and Bloom originally purchased the 9,285-square-foot home from Wescott in July 2020 for $15 million. Days after the deal was finalized, Wescott claimed that he had been recovering from spinal surgery at the time of the agreement.
During opening statements last Wednesday, Westcott’s attorney Andrew Thomas said that his client, who was diagnosed with the genetic brain disorder Huntington’s Disease in 2015, had been showing signs of “delusion” and “intrusive thoughts” after taking the painkillers and was still recovering from “post-operative delirium.”
In a countersuit, Perry is seeking more than $5 million in damages due to loss of potential rental income and for the cost of maintaining other properties that she and Bloom rent. She is expected to remotely testify this week in the non-jury trial which began last Wednesday.
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A new report from RBC says short of a housing crash that would “destroy property values” in Canada, it will take years and concerted efforts to restore affordability.
The second-quarter report on housing affordability lays out some dire conditions across the country and warns “any progress in restoring housing affordability is likely to be slow.”
According to RBC, in order to see any sort of difference in the current housing situation, supply needs to increase by giant leaps.
But the bank says that doing that will take a long time and even if new homes are built, the rising construction costs could still result in Canadians being priced out of the market.
The dream of home ownership remains out of reach for many
As Canadians across the country deal with high interest rates and real estate prices, the report suggests buyers will continue to deal with “extremely difficult affordability conditions.”
“We believe those pressures are behind the notable cooling in home resale activity we saw this summer in Ontario and British Columbia. They are poised to weigh on demand for months to come in both regions, with many buyers entirely priced out in Vancouver and Toronto,” reads the report.
RBC says we are still seeing the effects of the sharp erosion of affordability from the pandemic playing a role.
Vancouver
Any hopes for any improvement in affordability were dashed as the market rebound in the second quarter sent home prices climbing at a rapid clip again after soaring interest rates saw prices drop the previous year.
Calgary
According to RBC, Calgary is apparently the hottest housing market in the country right now. The bank says inventory is at a 15-year low and that “home resales [are] running at the pre-pandemic peak” and as buyers compete fiercely for the little inventory Edmonton
We’re not in Calgary… The situation is Edmonton is quite different as there seems to be “plentiful inventory” that is resulting in a “calming effect” on price negotiations.
Toronto
RBC says Toronto has more in common with the situation in BC than Alberta right now. There is “no material relief” in sight in Toronto and RBC says “the dream of owning a home remains far out of reach for ordinary folks.”
Interest rates seem to have ignited resale activity in the spring, but RBC is predicting “a more subdued tone” in the months ahead.
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