Molinaro grows Burlington, literally!
Growing Burlington is something the Molinaro Group takes seriously. And not just with premium quality condos. How about fresh produce? For the second year, the Group’s collaboration with Bunchberry Connections netted a bounty of fresh produce for the Burlington Food bank of over 1,000lbs! In this 2022 Harvest wrap up, Vince Molinaro joins Bunchberry CEO Adria Cehovin for a quick tour, and a heartfelt call to action for more community support to kick 2023 into high gear.
Paradigm Grand featured in Ontario HomeBuilder Magazine
The Molinaro Group has always been ahead of the curve. And their Paradigm development is a glittering example of that. Close to transit, loaded with unprecedented lifestyle amenities and situated in a growing mid-sized city with an enviable lifestyle, Paradigm ticks all the boxes of intelligent, market leading development. In a recent issue of Ontario HomeBuilder magazine, Paradigm was a featured project in an extensive article about how the development industry, in general, is putting transit-oriented projects in the fast lane. Paradigm Grand, the grand finale of this master-planned community on Fairview Street in Midtown Burlington, is currently under construction. Read the article here: https://issuu.com/ohbmagazine/docs/ohb_earlyspring2023_optimized Watch the Paradigm Backstory video here:
Molinaro Group Brings Fairness to ALL Buyers
At the Molinaro Group, pre-construction assignments for its condominium properties have never been offered. The developer believes that restricting assignments creates a more stable environment for its purchasers while offering a more level playing field. Much has been written about the rising cost of GTA homes and condos in recent years. Real estate investment speculation has contributed to this trend, in part, with pre-construction assignments. This is a condo purchase where investors put a minimum down payment on an unbuilt condo unit and, before even completing their own purchase or taking possession of the unit, they assign the right to sell the unit to another buyer. This business model works well for the initial investor when real estate were prices are almost constantly rising. They “buy” a unit for lower prices, sit on it while prices rise and then unload the unit at a profit. The practice has been a driver of rising condo prices and a big motivator for investors who, according to Statistics Canada, own close to 40% of all condos in Toronto, and at even higher percentages in some smaller markets. Governments’ Efforts to Control Condo Costs All three levels of government have taken steps to slow the increase in housing prices and have targeted the assignment practice. For example, the federal government has imposed anti-flipping rules, which taxes 100% of the capital gains on a property sold within one year of its purchase. It has also imposed a two-year moratorium on foreign buyers’ ability to buy residential real estate. The Canada Revenue Agency (CRA) also has instituted new rules requiring real estate investors to pay HST on profits realized from pre-construction assignments. In Ontario, the government increased the non-resident speculation tax (NRST) last year that applies to certain foreign buyers of Ontario homes. Meanwhile, several municipal governments – including the City of Toronto – have imposed a vacant home tax. As of February 3, 2023, owners of unoccupied homes must pay 1% of its market value if they do not qualify for the exemption. On an even broader scale, the Bank of Canada, in its efforts to wrangle inflation, has raised interest rates several times over the past two years. This has made it more difficult for real estate speculators to prequalify for loans and acquire the funds required to close a deal on investment properties. Impact on Pre-construction Assignments Reactions to these government policies and their effectiveness in restricting real estate speculation have varied. There has also been debate on how these rules will affect pre-construction assignments, which were believed to be primarily responsible for the rapid growth in sales and prices in the condo market through most of 2021. However, according to a recent Globe and Mail article, new condo sales in the GTA dropped by 79% in the third quarter of 2021, which has greatly reduced pre-construction assignments. “The popularity of assignments can only be sustained when prices are going up consistently,” said Linda Davies, Broker of Record, Davies Condos. “The third-party (VIP or Platinum) brokers selling new product tend to demand high commissions and first access to the choice product which also has put an upward pressure on prices. In today’s market those brokers will be scarce… and their existing client base, who bought in the boom, will likely have trouble closing deals and/or reselling.” No Pre-construction Assignments with Molinaro Pre-construction assignments are uncommon in Burlington. At the Molinaro Group, pre-construction assignments for its condominium properties have never been offered. Even though its properties attract many eager buyers, investors know they have to close on their purchase, and must be prepared to do so when the time arrives. Molinaro Group’s position on not providing or supporting pre-construction assignments helps preserve end user and long term investor values by discouraging and virtually eliminating this flipper action. Allowing assignments prior to closing can undermine prices when these units flood the market just before closing. The Molinaro Group believes that by restricting assignments it creates a more stable environment for Its purchasers while offering a more level playing field. And the developer supports its buyers through all steps of the purchasing process. This includes post-sale care through the Molinaro Group Customer Care Program and rental support through Davies Condos, Molinaro’s exclusive broker for the sale and leasing of its properties. “We do things differently at Molinaro, long before any government rule changes were imposed on assignments,” said Vince Molinaro, President, Molinaro Group. “We believe in transparency and fairness, which is part of our commitment to ensure our customers get the best product and service for the best price.”
Robert Molinaro joins Canadian Home Builders’ Association Board of Directors
The Molinaro Group’s legacy of leadership in the housing industry continues with the election of Robert Molinaro to the National Board of Directors of the Canadian Home Builders’ Association. The Molinaro Group’s efforts to support the home building industry have seen president Vince Molinaro serve as president of both the West End Home Builders’ Association (2007) and later, the Ontario Home Builders’ Association (2014-2015). He was inducted to the WE HBA Hall of Fame in 2019. That tradition of volunteerism continued with Molinaro Group Executive Vice President Robert Molinaro who also served as president of the WE HBA in 2020. Taking on the role of Director at the Canadian Home Builders’ Association is an opportunity for growth, says Robert. “It’s certainly a great way to continue our company’s efforts to support the industry’s growth, and for me to expand my professional experience and network, which is always a good thing.” As a member of the national Board of directors, Robert will contribute to the Association’s mission which seeks a positive role for the housing industry in Canada’s economy and in communities nationwide. The CHBA works to ensure that the interests of its members, and the homebuyers they serve, are understood by all levels of governments. A key deliverable is ensuring Canadians are informed and confident when they buy a new home or hire a renovator to improve their existing one. Since 1943, the Canadian Home Builders’ Association (CHBA) has been the voice of Canada’s residential construction industry. Today, with 9,000 members, the association represents one of the largest industry sectors in Canada.
Paradigm Ph1 LEED® Silver accreditation
Paradigm Phase One’s LEED® Silver accreditation is the culmination of a full scope commitment by the Molinaro Group. Working with its consultants, construction trades and vendors, the Group is bringing greater environmental sustainability to condominium design and construction in Burlington. The three-tower, first phase of Paradigm, in Midtown Burlington, adds LEED® Silver to a long list of other awards for distinctive design, branding excellence and materials innovation.
Molinaro Group: More than Just a Builder
Molinaro Group is not just another builder in Burlington. It’s evident in the properties they’ve developed, the way they interact with buyers, and how they’ve contributed to Burlington’s growth. “The Molinaro Group brings their product to market a little bit differently than others,” said Linda Davies, Broker of Record, Davies Condo Real Estate. “They say what they’re going to do and they deliver on their promises.” A Builder with History in Burlington Molinaro Group has been in the property development business for over 60 years. And, perhaps more importantly, they’ve been developing residential and commercial properties in Burlington for almost 25 years. When Domenic Molinaro first arrived in the city, its downtown and waterfront was a blank canvas. He set out to fulfill his vision of what Burlington could be by developing beautiful and unique buildings that redefined and vastly imnproved their neighbourhoods. Molinaro Group started Burlington’s growth with the development of Spencer’s Landing. When it was built in 2003, it was the city’s first condo in almost 20 years. This led the way to other iconic developments – Bunton’s Wharf, The Baxter, 360 on Pearl. Paradigm is its latest award-winning condominium development, and, with Paradigm Grand now selling, the Group’s track record of success continues. “We don’t rest on the laurels of the past,” said Sam DiSanto, Managing Director, Molinaro Group. “With every building we create today, we learn from what we’ve done and enhance the next project as much as we can.” Dealing Directly with the Builder Molinaro Group is a family owned and operated company, which is reflected in how they run the business. They are hands on and involved in every part of the operations, from the initial design through to the final sale and beyond to customer delivery. For example, buyers get access to timely and accurate information and engage with experienced salespeople at Davies Condos who understand Molinaro’s products and offerings. More importantly, buyers deal directly with the builder through their exclusive arrangement with Davies, so there’s no third parties, meaning, buyers get the best selection and best prices. “We take a personal interest to make sure our buyers are happy,” said Robert Molinaro, Executive Vice President, Molinaro Group. “We want to be involved in every aspect to make sure our customers are happy.” Commitment to Craft, Customers, and Community Molinaro Group is dedicated to developing quality properties. They take great pride in the unique design of their buildings, they use of high-quality sustainable materials, and deliver amenities that appeal to buyers. The proof is in the numerous awards they’ve won for their developments, which have also helped put Burlington on the map. The builder’s commitment to quality is evident in the number of repeat buyers they’ve had over the years. The owners of Molinaro Group take great pride in the loyalty of their customers, as it speaks to the quality of their work and their commitment to customer care. “We take a personal interest in the satisfaction of their buyers as we do in the successful completion of our developments,” said Sam. Molinaro Group also gives more as a builder by giving back to the community. They have supported and invested in numerous charitable initiatives, including the Joseph Brant Hospital, public library, and performing arts centre. They’ve also partnered with local businesses and initiatives at the community level. For example, they’ve donated land and materials to create an Urban Farm with Bunchberry Connections. This year alone, the farm produced over 1,000 pounds of fresh food for the Burlington Food Bank. “The food bank is a great organization, full of passionate volunteers, and we’re happy to help them provide people with fresh vegetables and herbs,” said Vince Molinaro, President, Molinaro Group.
Customer Assurance: No One Does it Better
In Episode 5 of our “Building a Better Burlington” Series, we explore The Molinaro Group’s commitment to customer satisfaction. Linda Davies, founding broker of Davies Condos, Vince Molinaro, president and Robert Molinaro, executive vice president of the Molinaro Group, share their comments on how involved they are in the entire buying process; and how excited they are to deliver the best products and service to their buyers.
Molinaro Group’s Commitment to Customer Assurance
Focus on Customer Satisfaction is a Family Affair While the Molinaro Group certainly is known for designing and delivering iconic condos throughout Burlington, their buyers also know the Company delivers a high level of customer care. At Molinaro, customer service has always been a top priority, one that keeps buyers happy, and sees them return to the Molinaro Group for additional condo purchases. “We see our customers as joining our family, so customer care begins before we even release our condos to the market,” says Vince Molinaro, President, Molinaro Group. “We design our projects to ensure our customers enjoy an awesome lifestyle in a premium quality living environment. That’s rule one in making sure our they’re happy over the long term.” Robert Molinaro, Executive Vice President at Molinaro Group, summarizes the Company’s priorities succinctly. “We’ve won a lot of awards for our condos but it’s our customers’ loyalty that matters most. Our customer care is a big reason why we have so many repeat buyers.” Customer Care Begins Before the Purchase Customers place an enormous amount of trust in their developer and the Molinaro Group ensures they get the product and service they expect and deserve. “From the very first meeting, right through to move-in and beyond, we are involved in every aspect of their journey to keep our customers happy,” says Robert. To do that, the Molinaro Group takes a hands-on, family-style approach to customer care. It begins the moment potential buyers enter one of their sales centres. A sales agent greets them, either in person or virtually, and provides them with the information and attention needed to make an educated buying decision. “The agents are knowledgeable and flexible,” said Linda Davies, President of Davies Condos, Molinaro’s Broker of Record. “If we have a savvy purchaser who wants to expedite the process, we will accommodate. If it’s a purchaser who is new to the process, we’ll will take whatever time is needed step-by-step to help that buyer through that process. Once that deal is done, it’s over to the Molinaro Group Customer Care Program, which, in my opinion, is second to none.” Linda also points out Molinaro Group’s ongoing video series on their buildings’ progress (such as Illumina) which buyers say is educational and re-assuring. Attention to Detail Molinaro Group consistently uses high quality materials in all of its projects and focuses on meticulous design finishes throughout the building process. This is supported through maintaining long-term relationships with their vendors and contractors, many of have worked for the Group for decades. This focus on detail and relationships inspires Molinaro Group to give residents what they desire in their home. For example, The Baxter offered larger units and amenities to meet the needs of families looking for their “home in the sky.” At 360 on Pearl, which was built with high-end amenities and design elements, buyers were able to customize their units to their personal preferences. Molinaro Group also are leaders in innovative design. They employ efficient building practices that emphasize the company’s commitment to innovation and sustainability. For example, Paradigm Phase One is LEED® Silver Certified, receiving awards for energy efficiency, air quality, and design innovation; and it’s built with many locally sourced materials. Illumina, now nearing completion in Burlington’s Downtown West neighbourhood, is Canada’s first ENERGY STAR® certified building, meeting the program’s stringent requirements. Caring About the Community Molinaro Group’s commitment to its customers extends to the city of Burlington and its communities. The company continues to fund philanthropic initiatives, including Joseph Brant Hospital, Carpenter Hospice, the public library, and the performing arts centre. It also donated land and materials to support an urban farm, which provides fresh produce for the food bank. And most recently, they’ve helped beautify Burlington’s downtown area with their fourth mural, this one my world-renowned artist Kelsey Montague. “Focusing on sustainability and energy efficiency is another way we deliver on customer care,” said Sam DiSanto, Managing Director, Molinaro Group. “We design our condos so our residents live in a healthier environment. And they also appreciate the longer-term savings they’ll get living in a more energy-efficient building.”
WEHBA Women in Homebuilding Trades Showcase
The West End Home Builders’ Association (WEHBA) partnered with Mohawk College and the Ontario Youth Apprenticeship Program (OYAP) on October 12th to stage an educational showcase. The event was proudly sponsored by the Molinaro Group and a host of other WEHBA members to help 100 young women and gender diverse individuals in Grades 7 and 8 explore career possibilities in the residential construction, skilled trades, and STEM industries. During the event, students visited booths hosted by community partners and WEHBA members that offered hands-on activities and equipment demonstration. “It was a great opportunity for the students to get face-to-face with professionals and learn about different trades and specialties,” said Robert Molinaro.
WEHBA Affectionately Honour their Presidents
West End Homebuilders Affectionately Honour their Presidents Recently, members of the West End Homebuilders Association (WEHBA) created a video to honour their Immediate Past President, Robert Molinaro and his successor to the presidency Bianca Bruzzese. This charming summary of people’s heartfelt sentiments is enjoyable from start to finish.
