Latest news with #Kemper
Hamilton Spectator
a day ago
- Business
- Hamilton Spectator
Condo development in Hamilton stalls as market hits historic low
Builders of highrise condos are hitting the brakes on Hamilton projects as the residential development sector struggles through the worst market downturn in decades. After another dismal quarter, the horizon for condo towers — the kind of density Hamilton is banking on to breathe more life into downtown , meet growth targets and provide more housing — is hazier than ever. One builder that's taking a wait-and-see approach is Coletara Development, which has paused sales on a 23-storey condo tower planned for vacant land on the edge of downtown Coletara Development has paused sales on a 23-storey condo tower planned for vacant land on the edge of downtown. 'The project's all completed. We're ready to go from a planning perspective,' Paul Kemper, president of the Mississauga-based firm, told The Spectator. 'That's not our issue. Our issue is that the market has slowed down.' Just under half of the Apex Condos, which is planned for the southwest corner of King and Queen streets, have sold, Kemper said. 'We're just waiting for the market to come back and then we'll be moving forward with additional sales.' Typically, although the threshold can vary, high-density condo developers must reach at least 60 per cent in presales to line up financing from lenders before projects can advance. The residential market across the Greater Toronto and Hamilton Area (GTHA) — and especially within the high-density condo sector — has crashed under the weight of a combination of factors, including spiked interest rates, escalating construction costs and higher unit prices. Kemper points out interest rates have come down, but consumer confidence hasn't yet rebounded during a wounded economy (most recently battered by U.S. tariffs). Our issue is that the market has slowed down. 'The reality is that because the economy is going poorly, there is just not the disposable income that people have to buy homes, and the homes are at all-time-high prices, so it's hard for the consumer. We recognize that.' The 'only variable that we can control' to tame prices is decreasing the size of units, but 'they have to be livable at the end of the day,' Kemper said. Coletara is no stranger to Hamilton, having built a 24-storey residential building at the former All Saints Anglican Church site at King and Queen, just north of the Apex property, a few years ago. And as his firm watches the market to resume sales, it has three other high-density projects in the queue for downtown that it wants to move on, Kemper said. 'We haven't moved them into sales yet because we're waiting for Apex to complete.' Other highrise developers with Hamilton projects are also taking a hard look at the cratering condo market. Slate Asset Management has planned three buildings of 27, 14 and eight storeys, with nearly 800 units between them, at the shuttered Corktown Plaza off John Street South. Slate Asset Management has planned three buildings of 27, 14 and eight storeys, with nearly 800 units between them, at the shuttered Corktown Plaza off John Street South. But 'in light of changing market conditions for condos sales,' Slate has 'proposed an amendment' to buyers of the first tower that would 'extend our construction financing condition timeline by one year,' a company spokesperson said via email. The only change for buyers who accepted the proposal is the extended timeline, but full deposits with interest were refunded to those who wanted out, Slate noted. 'We remain committed to finding ways to move forward with the project, and we are working hard to realize our vision for this community.' Real estate research firm Urbanation's second-quarter analysis of the GTHA new condo market tallied 502 sales, which extended a 30-year low for the sector. Second-quarter sales were down 10 per cent from the first and dipped 69 per cent year-over-year. This second quarter was 91 per cent below the 10-year average. Nobody wants vacant parcels. Unsold units are piling up as GTHA developers pause condo projects with only three launching presales on 891 units in the second quarter. Since the start of 2024 in the GTHA, 21 projects (4,412 units) have been cancelled. Of those, Urbanation noted, nine are being converted to rentals, an emerging trend as condo developers pivot from sales-dependent financing. Meanwhile, construction starts (essentially when foundations are poured) continue to lag from previous years. Across all housing types, Hamilton had 1,481 starts in 2024, a stark contrast from 3,347 in 2023 and 3,352 in 2022, according to Canada Mortgage and Housing Corporation (CMHC) data. Coletara Development has paused sales on a 23-storey condo tower planned for vacant land on the edge of downtown. The downturn has interrupted Hamilton's once-surging condo market, says Pauline Lierman, vice-president of market research for Zonda Urban, a real-estate research firm. That's disappointing, says Lierman, a McMaster University graduate who says she was looking forward to seeing planned residential-commercial development at Pier 8 , a city partnership with private builders, hit the market. 'That has kind of been swept under the rug.' In April 2024, Waterfront Shores, the consortium behind the project — which calls for 1,645 residential units, including a 45-storey tower — told the city 'builder threshold profit' for the phased development's first two blocks had 'not been met.' Lierman says it became 'very easy to churn out towers' with investors willing to buy units, but now amid the severe slowdown, developers have resorted to 'lowball pricing' to get past the financing hurdle. Developers might opt to 'shelve' projects and 'rethink' their products, including opting for smaller buildings or shifting to rental, Lierman said. That last option would be a good thing, Coun. Cameron Kroetsch suggests. We definitely need more rental stock downtown. 'We definitely need more rental stock downtown,' said Kroetsch, noting nearly 80 per cent of those who live in the core are renters. The condo crunch overlaps with a dispute between highrise developers and Philpott Memorial Church over the sale of the congregation's York Boulevard church. The cited sticking point has been potential heritage protection for the 124-year-old church, a discussion that sparked concerns from Kroetsch about housing not materializing for years on the site should the church be razed. 'If you're going to tear it down, it has to be replaced with housing.' Representatives of development partners Empire Communities and Hamilton Coliseum Place didn't respond to The Spectator's requests for comment. With more than 90 per cent of housing in private ownership, it's 'beholden' to market dynamics, said Coun. Maureen Wilson, whose ward includes the Apex Condos. In such a landscape, local governments are limited in what they can do, but 'nobody wants vacant parcels' of land, Wilson said. 'We know that people, density, adds to vitality, adds to economic exchange, adds to us enjoying and having more and different neighbours.' As the market bottoms out, the residential construction sector has pressed the city for breaks on development charges, which municipalities use to pay for growth-related infrastructure. Finance staff are examining potential relief but have emphasized foregone revenue must be recouped through property taxes and pointed to the need for senior levels of government to backstop any discounts. Cranes in the sky are for projects that got underway a few years ago , but now highrise residential development is at a grim crossroads, says Mike Collins-Williams, CEO of the West End Home Builders' Association. 'Everyone in the industry is hopeful that there will be a turnaround, but I think with each passing month, there's a deeper understanding that this is a seismic shock that is going to take potentially years to navigate our way out of.'
Yahoo
4 days ago
- Business
- Yahoo
Kemper (KMPR) Could Be a Great Choice
Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments. Cash flow can come from bond interest, interest from other types of investments, and, of course, dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend yield, a metric that measures the dividend as a percent of the current stock price. Many academic studies show that dividends make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns. Based in Chicago, Kemper (KMPR) is in the Finance sector, and so far this year, shares have seen a price change of -9.14%. The insurance holding company is paying out a dividend of $0.32 per share at the moment, with a dividend yield of 2.12% compared to the Insurance - Multi line industry's yield of 1.93% and the S&P 500's yield of 1.55%. Looking at dividend growth, the company's current annualized dividend of $1.28 is up 3.2% from last year. Over the last 5 years, Kemper has increased its dividend 2 times on a year-over-year basis for an average annual increase of 0.70%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. Kemper's current payout ratio is 20%, meaning it paid out 20% of its trailing 12-month EPS as dividend. Earnings growth looks solid for KMPR for this fiscal year. The Zacks Consensus Estimate for 2025 is $6.34 per share, with earnings expected to increase 7.64% from the year ago period. Investors like dividends for a variety of different reasons, from tax advantages and decreasing overall portfolio risk to considerably improving stock investing profits. It's important to keep in mind that not all companies provide a quarterly payout. Big, established firms that have more secure profits are often seen as the best dividend options, but it's fairly uncommon to see high-growth businesses or tech start-ups offer their stockholders a dividend. During periods of rising interest rates, income investors must be mindful that high-yielding stocks tend to struggle. That said, they can take comfort from the fact that KMPR is not only an attractive dividend play, but also represents a compelling investment opportunity with a Zacks Rank of #2 (Buy). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Kemper Corporation (KMPR) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Express Tribune
18-06-2025
- Entertainment
- Express Tribune
Ellie Kemper ditches strict parenting structure for a relaxed summer with her sons
Ellie Kemper is ready to trade structure for spontaneity this summer. The 45-year-old actress and mom of two told Parents magazine that she's letting go of rigid parenting rules in favor of a more relaxed approach with her sons James, 8, and Matthew, 5. "I'm looking forward to having not as much structure," said The Office alum, acknowledging that while experts often stress the importance of routine, she believes summer offers a natural break. 'I think it's also nice to let some of the structure slide.' Kemper, who shares her children with husband and comedy writer Michael Koman, described her parenting style as 'constantly evolving.' She admitted that while their home has rules and boundaries, she's learning to adapt and ease up when necessary. Known for her cheerful roles on Unbreakable Kimmy Schmidt and The Office, Kemper has also been candid about her real-life parenting moments. On The Ellen DeGeneres Show in 2021, she shared how her son Matthew's first phrase was a polite 'No thanks,' joking that she deserved a medal for raising such a courteous toddler. She also spoke fondly about her older son, James, who is both respectful and independent. 'He'll say, 'Mom, you don't have to help me—I know you don't have a lot of patience left,'' Kemper recalled with a laugh. With summer here, Kemper seems ready to embrace more play, flexibility, and the joy of less structure—something many parents may find relatable.
Yahoo
17-06-2025
- Entertainment
- Yahoo
Ellie Kemper Reveals the Parenting Rule She's Ditching This Summer with Her 2 Boys
Ellie Kemper is sharing the parenting rule she's ditching this summer when it comes to her two boys The actress is looking forward to "having not as much structure" in her kids' routines Kemper shares sons James, 8, and Matthew, 5, with husband Michael KomanEllie Kemper is embracing a schedule-free summer — and throwing out this one parenting rule. The actress, 45, spoke with Parents for their summer issue and shared that this summer, she and husband Michael Koman are ditching a popular parenting tactic for their two boys — James, 8, and Matthew, 5. "I'm looking forward to having not as much structure," the mom of two says of her summer plans with her family. "I know that all the parenting experts tell me that structure is key, and I agree with that to a point." "But I think it's also nice to let some of the structure slide during the summer, which is sort of natural," Kemper explains. Never miss a story — sign up for to stay up-to-date on the best of what PEOPLE has to offer, from celebrity news to compelling human interest stories. When asked to define her parenting style, Kemper admits that it's "constantly evolving." "And by that I mean that, while my husband and I have rules and boundaries and structure in place, I've learned that I need to ease up on certain things. So, it's kind of something that I'm constantly refining," she says. In a 2021 episode of The Ellen DeGeneres Show, Kemper shared that her then-toddler son Matthew had started talking and kept his vocabulary extremely courteous. The proud mom revealed that Matthew "jumped straight to a phrase, not even his first word." "He says, 'No thanks,' all the time," the Unbreakable Kimmy Schmidt star said with a laugh. "I feel like I should get a medal because I've raised him to be so polite. Isn't that cute?" Not only is her little boy well-mannered, Kemper said Matthew is also "incredibly strong." "I have to wrestle him to change his diaper," she admitted. "It's unbelievable. My husband has a similar strength; he never works out, but he's incredibly strong. I think Matthew has inherited that super strength." At the time, she also shared that her older son James is also incredibly respectful — especially when it comes to Kemper's patience. "I get a little sad at night because James will say to me, he's like, 'Mom, why don't I brush my teeth. You don't have to help me. I know you don't have a lot of patience left,' " Kemper said, letting out a laugh. "It's like, how many times have I said to him, like 'James I don't have patience.' " "It's hilarious and a little sad," she continued. "I tell James that I start the day with a bucket full of patience and energy. And by the end of the day, the bucket is running low." Read the original article on People
Yahoo
17-06-2025
- Business
- Yahoo
Commerce Bancshares to acquire Florida's FineMark for $585m
Commerce Bancshares, a bank holding company headquartered in Missouri, has agreed to acquire Florida-based FineMark Holdings (FineMark), in an all-stock deal valued at around $585m. FineMark, established in 2007, offers asset management, banking, and investments services. It is the parent of FineMark National Bank & Trust, a chartered bank and trust company with 13 banking offices across Florida, Arizona, and South Carolina. The deal will see FineMark shareholders getting 0.690 shares of Commerce common stock for each share held. Both companies' boards of directors have approved the merger deal. Commerce expects the acquisition to enhance its 'wealth management business in high-growth markets'. The completion of the merger is expected on 1 January 2026, contingent upon regulatory approval, the consent of FineMark shareholders, and other standard closing conditions. Commerce president and CEO John Kemper called FineMark a 'natural culture fit'. Kemper stated: 'Together, with over $36 billion in assets and over $82 billion in wealth assets under administration, we are poised to accelerate growth, expand our reach, and deliver even greater value to clients, shareholders, and the communities we serve for many years to come. This acquisition is about more than scale—it's about shared purpose and the opportunity to achieve more together." As of 31 March 2025, FineMark reported assets of $4bn, deposits of $3.1bn, and loans of $2.6bn. Its Trust and Investment division manages approximately $7.7bn in assets under administration (AUA) for around 2,000 clients. FineMark chairman and CEO Joseph R. Catti said: 'We believe it reflects well on FineMark that a bank of Commerce's calibre would see the value in what we have created. We are excited to announce a partnership that will benefit both institutions, our clients, and shareholders, while also positioning us to work together towards the next chapter of our combined organisation's legacy." "Commerce Bancshares to acquire Florida's FineMark for $585m" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
