Windsor-Essex County Market Report 1/17/2024

Your Windsor-Essex County Real Estate Agent
10 Tips for Maintaining a Wood-Burning Fireplace

When bitter cold winter winds blow outside, nothing beats the warm crackle and glow of a wood fire in a fireplace inside. Maintaining your fireplace regularly will ensure that it operates in the safest, most efficient manner possible.
Guest column: Windsor 'must go forward' on building affordable homes

Windsor, Ontario, stands at the cusp of an economic resurgence, offering potential jobs and prosperity for families. However, the rejection by Windsor city council of a policy proposal to permit four units on residential lots jeopardizes millions in federal funding aimed at addressing the city's housing affordability crisis. Windsor's housing market is struggling due to insufficient home building, making it one of Ontario's worst large urban municipalities in terms of new housing starts. The proposed policy change, allowing four units as-of-right, has been successfully implemented in other Ontario municipalities and is viewed as a progressive solution to cut through planning red tape. President of the Windsor-Essex County Association of REALTORS, Maggie Chen, urges city council to reconsider its decision, emphasizing the need for bold action to address Windsor's housing challenges and ensure a brighter economic future.
THANK YOU FOR ALL YOUR REFERRALS!
I am always available
Lou Joseph, Realtor
RE/MAX Preferred Realty
(519) 817-0887
Dilkens abruptly cancels update on pursuit of federal housing funds

Windsor Mayor Drew Dilkens' anticipated announcement on the city's pursuit of federal housing dollars was abruptly canceled, as the city received additional information necessitating a reassessment before public updates. The city, seeking access to the Housing Accelerator Fund, faces challenges after rejecting a zoning change for fourplexes, putting up to $70 million in federal housing funds at risk. While Windsor-Tecumseh MP Irek Kusmierczyk clarified that the city is not resubmitting its application, ongoing dialogue with the federal housing minister's office continues. The rejected zoning change, required for eligibility, may jeopardize millions in grants. Criticism from local real estate figures, including Maggie Chen, emphasizes the potential benefits of allowing fourplexes without altering neighborhood character. Recent discussions between Mayor Dilkens, Federal Housing Minister Sean Fraser, and city representatives aim to find a way for Windsor to access the Housing Accelerator Fund, which promotes zoning changes for increased housing density.
Windsor firms would benefit should Ontario land record Honda investment

Honda is reportedly considering Ontario as the potential location for an $18.4-billion electric vehicle assembly and battery plant campus, as revealed by Japanese business publication Nikkei. While local officials are not actively pursuing Honda, automotive analysts anticipate that Windsor, Ontario, could benefit significantly if the project materializes. Brendan Sweeney, director of the Trillium Network for Advanced Manufacturing, believes that Windsor, with its proximity to Honda's plants in Marysville, Ohio, and Alliston, would be well-positioned to service the potential project. The investment by Honda, which would be the largest single automotive investment in North America to date, is expected to bring business growth to southwestern Ontario, benefiting local suppliers and manufacturers. While local officials are focusing on recruiting supply chain companies for other projects, the discussions with Honda appear to be advanced, with expectations of a decision by summertime. Opportunities for local tool and die, mould-making, automation firms, and parts manufacturers are anticipated, creating a domino effect and benefiting suppliers at various tiers. Companies in the Windsor area, particularly those working with NextStar Energy and Stellantis's Windsor Assembly Plant, could gain a competitive advantage in the emerging electric vehicle industry segment.
Windsor tables 2024 budget with $1.9 billion 10 year capital plan

The City of Windsor has unveiled its 2024 budget, proposing a 3.9% municipal tax levy increase. Mayor Drew Dilkens advocates for a $1.9 billion 10-year capital budget, driven by a significant growth forecast. The 2024 proposal includes $206.9 million in capital spending, marking a 24% increase in annual capital spending since 2016. Key allocations involve $569 million for roads, $471 million for sewers, and $183 million for parks and recreation. Under new provincial legislation, there is a 30-day window for council amendments and a two-week public review period. Delegations will be heard on Jan. 22, with a budget vote expected in early February. Mayor Dilkens emphasizes the budget's balance of compromises and investments to deliver a modest tax levy increase during inflationary times, maintaining services and amenities while addressing future growth needs. The budget aims to support infrastructure, economic development, affordability, safety, and overall quality of life in Windsor.
Thank you for your time today!

I look forward to working with you now or in the future...

Sincerely,
Lou Joseph
Lou Joseph, Sales Representative www.loujoseph.ca (519) 817-0887

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