Barrie - Revitalization by our friends in Real Estate - Pulis Investment Group

Congrats to our friends, the Pulis' for having this vision and making a difference to our downtown Barrie core! Here's an article in this weeks Barrie Examiner

Property owner breathes life back into downtown building

Kyle Pulis, of Pulis Investment Group, stands near a the Mulcaster Street building that hit the headlines last fall as being captured in a painting by Group of Seven artist Lawren Harris. The Pulis Group ‘rehabilitated’ the building, one of a number of properties that they have worked on in Barrie and Orillia. J.T. MCVEIGH/BARRIE EXAMINER

Something is different on Mulcaster Street.

Ignored for years except for the occasional visit from a police officer or two, the red brick walk up in Barrie’s downtown has pretty well stayed off of the radar.

That is until a couple of year’s ago when a 23-year-old named Kyle Pulis, from Brampton, took a look inside and saw promise.

The last time that happened was over a century ago when some artist named Harris stuck an easel across the road and painted a moment in time.

Group of Seven founder Lawren Harris’ A Street in Barrie made it to Sotheby’s Auction House in Toronto a couple of weeks ago, and although the painting wasn’t sold, director of Sotheby’s, David Silcox, estimated that at some point the painting should fetch somewhere between $900,000 and $1.2 million.

Pulis, of Pulis Investment Group, didn’t know about the painting or the auction, but he did know the property.

“Going through these old units really reminded me of the trips to New York where they took the old buildings and were able to turn them into high-end apartments, the same with areas of Toronto,” said Pulis.

And from there a plan was formed.

It wasn’t without its challenges.

Although a great deal of the old trim work, crown moldings, and even solid hardwood floors were in restorable shape, there was still a lot of work to do.

“So when I can into this here, I was 23. When I bought it, and this was my fourth project that year, even my agent thought that I was crazy when I bought this.”

However after conferring with his team of contractors, Pulis got the thumbs up and work began.

Pulis’ founded his investment company with his father David, creating a private investment group whose clients want to invest in real estate in some way, but either don’t have the time or the expertise to tackle a project.

Clients are very much interested in niche investing, and they are looking for profit, but with a conscience.

“They (clients) are really drawn into that idea of revitalizing part of the downtown,” said Pulis, “They are investors that keep a profit in mind, but they also want to be a part of cleaning up the downtown.”

For Hany Kirolos, director of the Economic Development Office for the city of Barrie, this is nothing but good news.

“Any rejuvenation in our city core that is within our zoning requirements, and results in either residential or business traffic, is great for a city centre revitalization,” said Kirolos.

Having private investors take a stake in the city’s downtown can have an enormous impact on the nature of a neighbourhood.

“The best example of this is Yonge and Dundas in Toronto where 20 years ago it was a derelict area with closed shops. Now it has become a mini Times Square changing the focal point to culture, to business and residential space,” Kirolos said.

Transitions aren’t easy, but the rewards are pretty high.

“We have a lot of projects like this in Hamilton and it’s the same thing there; the neighbours come out and say thank you. It is really good to be part of the revitalization of places like downtown Barrie,” said Pulis.

He knows that he is dealing with a niche market, people who want the convenience of modern construction, but enjoy the warmth a century building exudes.

“Here, what I found is that because the tenants are all from pretty much the same demographic, that they create a community, he said “They are all really into the building, excited to hear about the history. Then they fall in love with the story, they fall in love with the neighbours and they really fall in love with the building.”

Pulis believes more opportunities like this are available. He has seen that with his project in both Barrie and Orillia.

Granted they are costly, but with willing investors and a skilled contractor work force, he feels the heritage of a neighbourhood can be saved.

“I know they (Barrie) are doing a lot of work, like cleaning up the waterfront, bringing people back into the downtown, building condos,” Pulis said,

“They are doing their part, so it’s not hard to see business owners and property owners along the strip here, doing our part.”

Barrie: GO Commuters could be paying separately for parking

Barrie commuters could one day be paying separately to park at GO Transit lots before they take the train.

Metrolinx, which operates GO, is looking at paid parking at its stations as a potential revenue stream.

It was discussed at this week’s Metrolinx board meeting about progress, changes and public feedback on its Big Move project — a 25-year, $50-billion program to build extended transit throughout the Greater Toronto and Hamilton Area (GTHA).

“Right now, at this time, there are no immediate plans for charging GO customers for parking,” said Malon Edwards of Metrolinx.

“Paid parking is just one of more than 20 revenue tools we’re considering to fund the Big Move ... 20 different revenue tools.”

There is currently no separate charge for parking at Barrie’s two GO stations: Barrie South (St. Paul’s) and Allandale Waterfront.

Metrolinx says the 160 parking spots at the Allandale station are used at 94% capacity, while the 619 spaces at Barrie South are at 87% capacity.

About 100 people get on and off the GO trains at Allandale daily, Metrolinx said, while 530 passengers get on and 520 get off the Barrie South trains each weekday.

An adult or student ticket from Allandale Waterfront to Union Station in Toronto costs $12.40, and $6.20 for a senior or child. This trip costs $11.31 with the Presto card.

Metrolinx CEO Bruce McCuaig said paid parking needs to be on GO’s radar.

“It’s something that has been talked about, and I think we do need to think about it,” he said. “One of the things we’ve heard very clearly during roundtables is this strong desire for a linkage between contribution and outcome, so wherever the funding comes from, we need to demonstrate to those people that they are getting (improved service).”

Since mid-January, Metrolinx has been holding community roundtables throughout the GTHA to gather public, municipal and private-sector feedback on the project, particularly on proposed revenue tools that could be used to fund it, such as highway tolls, fuel tax, vehicle registration fee and land-transfer tax.

McCuaig didn’t provide a ballpark revenue figure if Metrolinx charged extra for parking, or how much customers would be charged to park.

“That’s dependent on the price points that are put in place and we’d also need to look at how does it relate to our fare structure… because right now all of our customers pay for parking through the fares they pay,” he said.

“I think we would have a complex process that we’d need to go through.”

Currently, there is no additional charge to park in any of the transit provider’s 66,312 parking spots.

McCuaig also wouldn’t elaborate when asked what potential revenue tools were found to be most unpopular during Metrolinx’s community roundtables held so far.

“We’re still hearing back from the public and stakeholders. I don’t want to prejudge what I’m going to be hearing from the business community, for example…I guess what I am hearing, though, is there is a lot of support for the … principles we’ve articulated.”

Metrolinx has held roundtables in Oakville, Newmarket, Mississauga, Georgetown, Ajax, Brampton, North York, Oshawa, Toronto and Hamilton.

Roundtables will be held in Dundas on Saturday and Richmond Hill next Tuesday.

Edwards said Metrolinx is nowhere near talking about how much it would charge or when it would implement separate paid parking.

“It’s too early to draw any conclusions on which revenue tools we’re going to use, whether it’s paid parking or any of the others,” he said.

“It’s just an idea, that’s exactly what it is, and we want the public to join us in talking about this idea.”

For more information, visit bigmove.ca.

(Bob Bruton - Barrie Examiner)

RRSP baby steps: The $12.50 solution

RRSP baby steps: The $12.50 solution

Over half of Canadians aged 18 to 34 still don’t have an RRSP. Here's an easy way to get going. 

RRSPs: Start early and you only need a little.

You hear it from financial experts all the time – start saving for your future while you’re young. But when you’re young, you don’t have a lot of disposable income to play with. And there’s always an excuse – I’ll contribute when I get my next raise, after I pay off my student loans, or when I get a better job! 

While many of us hold an RRSP account, according to RBC,over half of Canadians aged 18 to 34 still don’t. And as the life expectancy for Canadians grow, we might have to save a lot more in order to have enough money for retirement. 

If you’re someone who hasn’t opened up an RRSP yet, here are four basic things you need to know about opening up your own account. 

1. Set a retirement goal 
It’s not that fun thinking ahead 30 or 40 years from now, but to make your RRSPs work, you will need to star thinking about what kind of retirement lifestyle you want to live. Do you want to spend your time traveling? Will you be happy living in a condo or cottage – or will you want a large house? Chances are, your priorities and your desired retirement lifestyle will change as you get older, but having a rough idea in place now will give you a starting point for future planning decisions. 

2. Take baby steps 
You don’t have to start by saving hundreds of dollars from every pay cheque. Find a number that works for you – even if it’s only $25 bi-weekly – and have it automatically deducted from your bank account as soon as you get paid. An amount that small will do nothing to disrupt your lifestyle. And once you see that money start to accumulate in your account, you might be inspired to start saving a little more from every pay cheque. 

The key is to keep investing regularly into your account. Establishing a pattern of savings now while you’re young, will ensure that saving money becomes a force of habit when you’re older. Whether you decide on bi-weekly contributions, or a lump-sum payment once a year – figure out which strategy works best for your lifestyle, and stick to it. 

3. You can manage everything online 
The emergence of online banking makes it simple to open and contribute to an RRSP account. If you feel comfortable doing it yourself, you can go to your bank’s website, fill out some personal information, and follow the instructions to open up an account yourself. But don’t worry – if the thought of opening up an RRSP by yourself is too intimidating for you, just make an appointment at your bank’s local branch. Someone there will be able to help you open up an account, and show you how to access your investments online. 

4. RRSP vs. TFSA 
There are so many pros and cons about whether 20-somethings should use RRSPs or TFSAs. Many young people choose the TFSA because of its flexibility. You can withdraw the money you’ve contributed at any time, penalty-free. Whereas with an RRSP, you can only withdraw money penalty-free by using the First Time Home Buyer’s Plan (HBP) or the Life Long Learning Plan (LLP).  

When you contribute to your RRSP, you might get money back when you do your taxes. What happens is, when you do your taxes, the government reduces your income by the amount that you’ve contributed. For example, if you made $15,000 in 2011 and put $3,000 into your RRSP account, according to the government, you’ve only made $12,000. They will then give you back the taxes you paid on that $3,000 in income. 

Do you currently contribute to an RRSP? 



Krystal Yee lives in Vancouver and blogs at Give Me Back My Five Bucks. You can reach her on Twitter (@krystalatwork), or by e-mail at krystalatwork@gmail.com

Downtown Barrie - Future of Bayview Park

Not long after city council discussed the possible sale of a section of Bayview Park for a downtown development, some graffiti has been added to the property along Dunlop Street. J.T.MCVEIGH/BARRIE EXAMINER/QMI AGENCY

Bayview Park’s future could be determined Monday. 

Coun. Lynn Strachan will ask city councillors to consider rezoning the Dunlop Street East park to open space at the general committee meeting.

This could diminish, or even end, the park’s involvement with a proposed condo project at Mulcaster and Dunlop streets.

Bayview Park isn’t zoned open space, like most Barrie parkland, but for C1-1 commercial use.

City planning director Stephen Naylor says 155 Dunlop St. E. was zoned open space in 2000 when a hand-drawn map was produced on polyester film/plastic sheet.

But in 2002 when this map was digitized, the zoning changed to commercial — without a specific council motion.

Barrie’s zoning bylaw has been updated with this change and approved by council.

It’s zoning was never a particular concern until the Pier Village proposal was introduced last fall, with Bayview Park an important part.

An 11-storey condo/commercial development is proposed there with 98 residential units, almost 19,000 square feet of commercial space and 148 underground parking spots where Hooters Restaurant, Macs, Simply Tea & Chocolate, Solve — Investigative Group and Vibration Fitness now stand.

Property owner John Trecapelli wants to buy the nearest piece of Bayview Park for $600,000 and use it for his development. The park’s C1-1 zoning allows the condo project.

Trecapelli has said this project requires the use of Bayview Park, for either parking or density, to be viable.

Changing its zoning back to open space wouldn’t eliminate the possibility, but it would return its planning to square-one. If council passes Strachan’ motion, there would be a public meeting on rezoning Bayview Park to open space. If that rezoning is approved, it would have to be rezoned again to allow for any commercial/residential development — necessitating another public meeting. Bob Bruton

February Checklist for a Smooth-Running Home

Romancing the home includes fresh air, fresh flowers and fresh supplies — and taking timeless sickness prevention tips to heart

Stay toasty warm at home while saving energy, enjoy the light of lengthening days streaming through your freshly cleaned windows and take a break to plan next season's garden over a cup of tea. From the preventive (dealing with flu-season germs) to the purely fun (give your house a valentine), this checklist is filled with helpful tips to keep your home running smoothly all month long.

Eclectic Kitchen design by San Diego Design-build Jackson Design & Remodeling

Keep warm at home. You can stay toasty and conserve energy with a few simple actions: 

• Close doors to unused rooms.
• Move furniture away from heating vents.
• Be sure the chimney flue is closed when it's not in use.
• Use door snakes and door sweeps to stop drafts.

Keep your thermostat set to a reasonable level and set out plenty of warm quilts and throws to snuggle under.

Eclectic Kitchen design by San Diego Design-build Jackson Design & Remodeling

Clean the air. Refresh your home with green plants or even grass planted in wooden or zinc trays. Also be sure to crack a window or two each morning, if only for a few minutes (even when it's cold). Getting fresh air into your home is especially important in winter, when closed environments tend to increase allergens and illnesses.

by Taylor Jacobson Interior Design

by Taylor Jacobson Interior Design

Disinfect. Pay special attention to places where germs tend to congregate. Desks, phones, doorknobs, handles and remote controls top the list. And if anyone in your household is sick, be especially vigilant in trying to prevent it from spreading to everyone in the house.

by Union Studio, Architecture & Community Design

by Union Studio, Architecture & Community Design

Touch up walls and make windows shine.With lengthening days bringing a bit more light into our homes, now is a great time to polish up the windows and walls. Fill small holes in walls and touch up the areas with paint, use your vacuum attachment to clear dust from high corners, and wipe down baseboards and windows.

February Checklist for a Smooth-Running Home

Houzz- Kitchen Remodel, Bathroom Remodel and More »

Browse Home Office Products on Houzz- For Example:

Bulletin Board · Cable Management · Desk Accessories · Desks · Filing Cabinets And Carts · Task Chairs ·

Let's Pay Less in Utilities! PowerStream announces decrease

Hydro Rates Drop! Mayor of the City of Barrie Proud to Make this announcement...

The Ontario Energy Board (OEB) has approved an application by PowerStream to significantly lower its distribution rates for residential and small business customers in Barrie and Simcoe County.

Effective Jan. 1, 2013, a typical PowerStream residential customer who uses 800 kilowatt-hours per month, will see a 16.2% or $4.56 per month decrease in distribution charges and an overall bill savings of 6.9% or $7.98 per month.

A typical small business customer in Barrie and Simcoe County which consumes, on average, 2,000 kWhs of electricity per month will see a total bill reduction of 2.7% or $7.72 per month.

“This significant drop in power bills for Barrie residents is a direct result of the merger of Barrie Hydro and PowerStream,” said Barrie Mayor Jeff Lehman, who also is a member of PowerStream’s board of directors. “In addition to providing tens of millions towards the expansion of RVH through the merger savings, PowerStream continues to be a big part of our community through its sponsorship of many local non-profits and charities.”

Distribution rates, which are reviewed and approved by the OEB through an application process, are a component of the ‘Delivery’ charges found on an electricity bill.

It is the only area of the bill that PowerStream can directly control.

“By continually working to find ways to reduce costs, PowerStream has been able to either lower or at least reduce the upward pressure on customer distribution rates,” said Frank Scarpitti, PowerStream board chairman and Markham mayor. “It is through innovation, strong project management and streamlining our core business processes that PowerStream has been able to provide optimal service to all of its customers.”

Electricity and other charges found on customer bills are collected by PowerStream on behalf of other electricity market participants — including generators, transmitters, retailers and regulators.

PowerStream was formed through the consolidation of several utilities, including the merger of Markham Hydro, Hydro Vaughan and Richmond Hill Hydro in 2004, the acquisition of Aurora Hydro in 2005 and the merger with Barrie Hydro in 2009.

Barrie Hydro was also involved in consolidation prior to its merger with PowerStream including acquisition of utility assets from Alliston, Beeton, Bradford West Gwillimbury, Penetanguishene, Tottenham and Thornton.

PowerStream is a community-owned energy company providing power and related services to more than 355,000 customers residing or owning a business in communities located immediately north of Toronto and in Central Ontario.

It is jointly owned by the municipalities of Barrie, Markham and Vaughan. Bob Bruton - Examiner

CMHC backing fewer loans

Canada Mortgage and Housing Corp. is cutting back on mortgages it insures as the Crown corporation edges closer to a $600-billion cap imposed on it by the federal government, the Financial Post has learned.

A CMHC spokesman confirmed that it had approached a number of lenders at the end of 2011 about reducing its “bulk or portfolio insurance” after third-quarter results showed the agency had committed to back $541-billion in mortgages. CMHC, which guarantees mortgages held by financial institutions, is ultimately backed by the federal government and needs approval to go over the $600-billion limit — something that would create greater risk for taxpayers should the housing market collapse.

“CMHC has recently received an unexpected level of requests for large amounts of CMHC portfolio insurance.” said Charles Sauriol, a spokesman for the Crown corporation, in an email.

“To ensure equitable access to portfolio insurance within CMHC’s annual limits, an allocation process is being established which has caused some delays. Portfolio insurance provides lenders with the ability to purchase insurance on pools of previously uninsured low ratio mortgages and does not impact CMHC’s transactional business.”

Financial institutions are required to have mortgage-default insurance when a consumer has less than 20% equity. However, the banks have been seeking insurance on loans with even high downpayments — something not required by law — so they can securitize those bulk lending loans, thereby getting them off their balance sheets and reducing their capital requirements. In those cases in which the loans to value is less than 80%, the bank pays the insurance charge instead of the consumer.

“One of the things that has got them [to the limit] faster than expected is they are doing a lot of conventional insurance for lenders,” said one source. Just three years ago,  CMHC had $450-billion in loans it was backstopping and had to go to the government to get that increased to $600-billion.

“I think as a taxpayer you should care. The policy question is why should the Canadian taxpayer take that type of meltdown risk within CMHC,” the source said.

The risk to the taxpayer would be a collapse in the market leading to a defaults like the U.S. saw. If CMHC couldn’t cover those defaults, Ottawa is on the hook for 100% of any shortfall.

On the surface, insuring conventional loans may not appear as risky as traditional mortgage default insurance because it comes with more equity. The banks have been demanding ultra low fees on the conventional mortgages, arguing the equity position makes them a lower risk. However, lenders are skimming their portfolio to load up mortgages that are 70% to 80% debt to equity and may also have other problems, said a source.

With mortgage defaults well below 1%, some might argue the risk to CMHC is negligible. “If you look at what is backing [CMHC’s] guarantee, it should be more than enough to cover any downturn in the market,” said one banking source, who asked not to be identified, about CMHC’s cash reserves. “Besides, what will the government do, not increase their limit? This could kill the entire housing market.”

CMHC gave no indication it would seek an increase in its limit.

“CMHC’s mortgage loan insurance limit in force is $600-billion. CMHC manages its mortgage loan insurance business in accordance with this limit,” said Mr. Sauriol.

The Crown corporation would be going to the government looking for an increase in its limit at a time when both Bank of Canada Governor Mark Carney and Finance Minister Jim Flaherty have been casting a wary eye at the housing market.

“We watch the housing market carefully and we are prepared to intervene if necessary. Having said that, we’re not about to intervene in the housing market now,” said Mr. Flaherty this month. For his part, Mr. Carney said “we see that in a number of real estate markets in Canada, valuations are at a minimum, firm; in others, they’re probably overvalued. So there are risks there.”

Sources have indicated the government is already considering tough new measures for calculating how the self-employed qualify for loans and tightening regulations for condominium buyers, so there is probably little appetite for backstopping even more debt from CMHC. In addition to CMHC, the government has a $300-billion limit for private mortgage default insurers. (source - Financial Post - Garry Marr)