I wrote about this a while back, when covering the new Apple Store opening in Waterloo, but I can now officially announce what I told you:

TARGET is coming to Conestoga Mall in Waterloo

As anyone who follows Retail & Commercial Real Estate in Canada likely knows by now, Target bough Zellers for $1.82 billion, mainly for the leases it owned in prime retail locations.  Zellers has a huge presence across Canada in premier malls, and it would be impossible to replicate that presence quickly, without buying a competitor.

Target will be taking the old Zellers space in the North East part of Conestoga Mall.  I do not expect the second Zellers in Waterloo, on bridgeport, to become a Target, but ya never know.

What is significant is that TARGET announced that it is coming to Waterloo in its first round of store annoucnements – Kitchener Waterloo is a major market that American retailers want to be in.  Just look at the new Apple Store we will soon have!

TARGET Comes To South Western Ontario

Target is moving into South Western Ontario’s Retail scene in a major way, announcing stores in Waterloo, Cambridge Centre, Masonville Mall and Westmount Mall in London, 175 Stone Road W in Guelph, at Gates of Fergus, among others.

The rest of the stores in Canada are as follows:

Alberta
•       Chinook Centre, Calgary
•       Forest Lawn Shopping Centre, Calgary
•       Market Mall, Calgary
•       Shoppes at Shawnessy, Calgary
•       Signal Hill Centre, Calgary
•       Sunridge Mall, Calgary
•       Bonnie Doon, Edmonton
•       Kingsway Garden Mall, Edmonton
•       Mill Woods Town Centre, Edmonton
•       Prairie Mall, Grande Prairie
•       Bower Place, Red Deer
•       St. Albert Centre, St. Albert
•         Sherwood Park Mall, Sherwood Park

British Columbia
•       Abbotsford Power Centre, Abbotsford
•       Metropolis at Metrotown, Burnaby
•       Discovery Harbour Shopping Centre, Campbell River
•       Cottonwood Mall, Chilliwack
•       Coquitlam Centre, Coquitlam
•       Driftwood Mall, Courtenay
•       Tamarack Mall, Cranbrook
•       Scottsdale Mall, Delta
•       Willowbrook Shopping Centre, Langley
•       Haney Place Mall, Maple Ridge
•       Nanaimo North Town Centre, Nanaimo
•       Pine Centre, Prince George
•       Oakridge Shopping Centre, Vancouver
•       Village Green Mall, Vernon
•       Tillicum Mall,  Victoria

Manitoba
•       Shoppers Mall, Brandon
•       Grant Park, Winnipeg
•       Kildonan Place Shopping Centre, Winnipeg
•       Polo Park Shopping Centre, Winnipeg
•       Southdale Centre, Winnipeg

New Brunswick
•       McAllister Place, Saint John

Newfoundland and Labrador
•       Corner Brook, Corner Brook
•       Cabot Square, St. John,s

Nova Scotia
•       Bedford Place, Bedford
•       Mic Mac Mall, Dartmouth

Ontario
•       Durham Centre, Ajax
•       Aurora Shopping Centre, Aurora
•       Bramalea City Centre, Brampton
•       Shoppers World Brampton, Brampton
•       Trinity Common, Brampton
•       Burlington Mall, Burlington
•       Millcroft Centre, Burlington
•       Cambridge Centre, Cambridge
•       Woodbine Centre, Etobicoke
•       Gates of Fergus, Fergus
•       175 Stone Road W., Guelph
•       Centre Mall, Hamilton
•       South Hamilton Square, Hamilton
•       Hazeldean Mall, Kanata
•       Cataraqui Town Centre, Kingston
•       Lindsay Square Mall, Lindsay
•       Masonville Place, London
•   Westmount Shopping Centre, London
•       Milton Mall Shopping Centre, Milton
•       Erin Mills Town Centre, Mississauga
•       Square One, Mississauga
•       Meadowlands Shopping Centre, Nepean
•       Upper Canada Mall, Newmarket
•       1899 Algonquin Ave., North Bay
•       Centerpoint Mall, North York
•       Orillia Square Mall, Orillia
•       Place D,Orleans, Orleans
•       Five Points Mall, Oshawa
•       Bayshore Shopping Centre, Ottawa
•       Billings Bridge Plaza, Ottawa
•       RioCan St. Laurent, Ottawa
•       Hillcrest Mall, Richmond Hill
•       Bridlewood Mall, Scarborough
•       County Fair Mall, Smiths Falls
•       Niagara Pen Centre, St. Catharines
•       Stratford Mall, Stratford
•       Sudbury Supermall, Sudbury
•       Intercity Shopping Centre, Thunder Bay
•       Cloverdale Mall, Toronto
•       Shoppers World Danforth, Toronto
•       East York Town Centre, Toronto
•       Flamborough Power Centre, Waterdown
•       Conestoga Mall, Waterloo
•       Taunton Gardens Power Centre, Whitby
•       Devonshire Mall, Windsor

Prince Edward Island
•       Charlottetown Mall, Charlottetown

Quebec
•       Galeries d,Anjou, Anjou
•       Faubourg Boisbriand, Boisbriand
•       Carrefour Angrignon, Lasalle
•       Mega Centre Notre-Dame, Laval
•       Galeries Chagnon , Levis
•       Place Longueuil, Longueuil
•       Place Alexis Nihon, Montreal
•       Place Vertu, Montreal
•       Terrarium Shopping Centre, Pointe Claire
•       Les Galeries De La Capitale, Quebec City
•       Place Fleur De Lys, Quebec City
•       Place Laurier, Quebec
•       Le Carrefour Rimouski, Rimouski
•       Promenades Saint-Bruno, Saint-Bruno-de-Montarville
•       Carrefour Saint-Georges, Saint-Georges
•       Carrefour Richelieu,  Saint- Jean sur-Richelieu
•       Carrefour du Nord, Saint Jerome
•       Carrefour de L,Estrie, Sherbrooke
•       Les Rivieres Shopping Centre, Trois Rivieres

Saskatchewan
•       Northgate Mall, Regina
•       The Centre, Saskatoon

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Big news this morning coming out of St John’s Newfoundland, as Georges Pahud, President of the Canadian Real Estate Association, spoke about CREAs approval of the Competition Bureau’s case re: access to the MLS®.

“We are pleased that after careful consideration and reflection, real estate Boards and Associations from across Canada have endorsed the agreement,” says Pahud.

The agreement was approved by CREA’s Board of Directors and the Commissioner of Competition on September 30th and was in escrow pending today’s vote. It confirms CREA’s commitment to a competitive real estate services market.

The Commissioner and CREA have agreed that its rules as well as those of its members should not deny or discriminate against REALTORS® wishing to offer mere posting services. CREA does not believe that such rules exist today, but if they do, they must be repealed or Boards will lose their license to operate under the MLS® trademarks. Board MLS® Systems remain a member to member service designed to provide accurate and timely information critical to the delivery of professional real estate services to Canadians.

“This 10-year agreement brings a close to a long process of negotiation with the Competition Bureau and will allow CREA and REALTORS® to do what they do best – help people with the biggest financial decision of their lives, buying and selling a home in
these challenging economic times,” says Pahud.

CREA believes the agreement reflects both current practices and intent regarding posting to Board MLS® Systems. Buying and selling homes is an incredibly competitive business, with 100,000 REALTORS® working through thousands of brokerages. Business models are diverse and CREA members offer a variety of services.

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.

I think this is good for consumers, but in a way, much ado about nothing.  As pointed out above, the current MLS® rules allow the consumer to negotiate any fee with a real estate brokerage, and in fact we have seen listings advertised on the MLS® with commission fees as low as $1 (paid to a selling brokerage)

To quote Toronto agent Helga Teittson:

“Real estate agents have always been allowed to be innovative and offer a variety of pricing options.  A listing agreement can be arranged based on 5, 6 or 7% commission. There is no price-fixing in commission fees, the rate is related to the value of the service. You can also charge 1% or NOTHING, if you like to work for free.

I noticed a listing on the Multiple Listing Service this week, which has been on the market for 89 days, before this landmark deal was reached. The commission offered to the Co-operating Broker (the one who brings the buyer) is $1. The remarks to Brokers is as follows :

The Seller Is Selling Privately And Will Negotiate Directly With Cooperating Broker Under Guidance Of His Lawyer. All Appointments And Offers Are To Be Arranged Directly With The Seller

So there you have it folks! Innovative pricing, $1 commission, and someone who is selling privately and is listed on the MLS®. Congratulations!”

I haven’t seen a listing like that in Kitchener Waterloo before, but I have heard other anecdotes like the one above.

I think it’s good to see this formalized, but I agree that it is not a major shift in the actual rules, at least not as I understand them (specifically related to the fee arangement.  The limitation of fiduciary service is a change).

To further quote the CREA president:

Organized real estate in Canada is incredibly competitive, it always has been and always will be – just look at the numbers. There are 100,000 REALTORS^® in Canada and thousands of brokerages. They compete for business every day by offering a myriad of services and business models. Media coverage since February is testament to this reality, with examples of REALTORS^® who charge fees to list on Board MLS^® Systems to those who charge a commission for marketing, advertising, negotiation and a whole host of additional services.

The Commissioner and CREA have agreed that its rules as well as those of its members should not deny or discriminate against REALTORS^® wishing to offer mere posting services. CREA does not believe that such rules exist today, but if they do, they must be repealed or Boards will lose their license to operate under the MLS^® trademarks. Board MLS^® Systems remain a member to member service designed to provide accurate and timely information critical to the delivery of professional real estate services to Canadians.

We are pleased this agreement lets us get back to doing what we do best. In these uncertain and challenging economic times REALTORS^® are a key part of buying and selling homes, but they are more than simple sales professionals. They are there when people make the biggest financial decision of their lives. They can help with financial literacy, explaining the ins and outs of financing and mortgages. They can explain municipal by-laws and zoning. They can find the right neighbourhood, with the right schools and services. They also help consumers find effective legal representation.

To do all these things and to be called REALTORS^® they have to be trusted and they are, because:

• They are licensed.
• They are insured.
• They follow a code of ethics.

Consumers can count on these things when they hire a REALTOR^®. Board MLS^® Systems stand for quality. Consumers know the information they see on websites like REALTOR.ca is accurate because of our high standards.

When you hire a REALTOR^® this is what you get, a licensed professional working in your interests, with access to the most accurate and up-to-date information about home buying and selling.

As I was telling a couple of Property Guys franchise owners, I am introducing MLS® posting-only services for commercial property owners in Kitchener Waterloo. Stay tuned for details!

Related posts:

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Some encouraging news for real estate investors looking to buy investment property in an area with a strong job market.  Kitchener Waterloo is growing while many economies across Canada slow down.

Remember Ben’s Rule of Rental Real Estate: Buy rental property in strong job markets, near major employers

From Daily Commercial News:

“Strong fundamentals driving Kitchener-Waterloo into 2011

Kitchener, Ont.’s economy is heading into the second half of 2010 in high gear, based on the employment report for July and the building permits statistics for June.

In July, employment growth in the Kitchener-Waterloo metro area (+7.8% year over year) was the fastest among the 27 census metro areas in the country, and more than three times the national average (2.3%).

Year-over-year job gains in July were particularly strong in business services (+42.1% year over year); finance insurance and real estate (+31.0%); professional and technical services (+16.7%); wholesale and retail trade (+16.2%); manufacturing (+15%); and accommodation and food services (+8.3%).

This strong pattern of job creation was accompanied by exceptionally healthy year-to-date gains in residential building approvals (+68%), as well as in all three categories of non-residential building, led by institutional (+134%), industrial (+121.9%) and commercial (+109.8%).

Specific projects that contributed to this increase in building plans include: the Barrel Yards, a 25-storey residential, commercial and hotel project in Waterloo, Ont.; an office/tech building in Waterloo; and a new provincial courthouse designed to put the three courthouses in Waterloo Region under one roof.”

So that’s what the job market in Kitchener Waterloo is doing – what about the rest of Ontario and Canada? A recent headline from The Record reads Canada’s jobless rate edges up; Waterloo Region’s dips to 7 per cent.

I guess that’s why Kitchener Waterloo is the #1 city to invest in Ontario, according to the REIN Top 10 Towns list (see:

Top 9 Reasons You Should Invest in KW Real Estate)

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I spoke with CTV at the Keller Williams office yesterday morning, and they also spoke with a client, Stephen Litt on site at the Arrow Lofts development.  They ran the segment on the 6pm news, and again at 11.

Here is the (shorter) clip from the 11pm news:

(thx Mike Hagedorn for getting this for me!)

If anyone was able to capture the clip that ran on the 6pm news, I’d be eternally grateful for a link.  Thanks!

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Kitchener Waterloo is Ontario’s top Real Estate Investment Destination, again.

Well, it’s that time of year again. Kitchener Waterloo is getting some more much deserved attention from Canadian Real Estate Investors all across the country.

KW has been named the top real estate investment destination in Ontario by the Real Estate Investment Network for a couple years in a row (see: Kitchener Waterloo Real Estate ranked #1 again), and this year the trend continues.

REIN released the REIN Top 10 list that named Kitchener Waterloo the #2 investment destination in Canada, and tops in Ontario again.

From CTV News:

The Record reports:
REIN “refers to Waterloo Region as the “economic Alberta of Ontario.”
That means Waterloo Region is seen not only as the economic engine of the new Ontario economy, but also that it “will outperform all other major regions in eastern Canada,” says REIN president Don Campbell
For indicators, he points to job growth, student growth and a new light rapid-transit system.”

Why are real estate investors focused on our city?  Let’s take a look at the reasons why people like buying investment property in Kitchener Waterloo

Top 9 Reasons People Are Investing in Kitchener Waterloo Real Estate Now

1. Top Area to Invest – The Real Estate Investment Network named Kitchener Waterloo & Cambridge (“the Technology Triangle”) the #1 city to invest in Ontario and #2 in Canada, behind Calgary.

2. Low Interest Rates. currently we have very low interest rates – although there is a slight upward trend right now – which makes NOW a great time to invest.  Rates will be going up in the future. It’s a matter of how soon, and how much.  Smart real estate investors are taking advantage of historically affordable cost of borrowing money.

3. Great prices – Investors love Kitchener Waterloo because it has a booming economy, without big city property prices.  Our clients invest in condos ranging from $120,000 on up, and there are opportunities to buy multi-family housing with cap rates of 7%, leaving room for healthy cash flow with today’s low interest rates.

You can buy good quality new construction rental units here, for much less than you’d pay for an older condo in Toronto.  (That’s what our cilents from Toronto happily do, over and over again).

4. Growth – Kitchener Waterloo is growing at a rapid rate. If you haven’t been here in a few years, just drive down King St! There are mulitple mega million dollar developments that are underway or have been completed recently – The Bauer Lofts, The Barrel Yards, the Arrow Lofts, Kaufman Lofts, the new McMaster medical school and University of Waterloo Pharmacy school, the new King St streetscape in downtown, the new Uptown Waterloo, the Kitchener Market, Market lofts; and LOTS of development in the university areas as well.

Also, the University of Waterloo has recently announced plans to double it’s footprint over the next 40 years. See Is Waterloo’s Student Housing Market Being Over Built?
5. Stable, Diverse Economy – Kitchener Waterloo is a market supported by strong fundamentals – world class high tech companies, universities and NGOs; a strong manufacturing sector; proximity to Toronto and the United States; an international airport; continued job growth etc.

In the July 2010 figures released by Stats Canada, the jobless rate of the KW area fell, while national unemployment rose.

6. Access to Property Management – all of our clients have access to world class property management for a very reasonable rate. Contact me for more details !

7. Great Business Community – Major companies and organizations call the Technology Triangle home including RIM (makers of the blackberry), Toyota, OpenText, Manulife, Sunlife, the Perimetere Institute, the Centre for International Governance Innovation, and a host of world class local companies.

8. Awesome, Smart People: Kitchener Waterloo is the MOST INTELLIGENT COMMUNITY IN THE WORLD. Take that Toronto

9. Great Resource – You have found a real estate agent and Wealth Building team that is focused on building your wealth!

What are some of the reasons you like investing in Kitchener Waterloo? Let us know in the comments!

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I asked Jeff what he thought of the Bank of Canada’s interest rate hike:

To most it doesn’t have much of an impact – 0.25% on a 200,000.00 mortgage that would be $10.00 a week or so. Mentally though when there are increases it scares people.

We need to keep in mind that rates are still very low and increases are expected going forward.

My advice to clients is if you can’t afford your current mortgage if rates were 6-6.5% your probably should look in a lower range as rates could easily be in that range someday (likely not for some time but it is possible)

Are you concerned with the direction rates are going in? Personally, I do not think it is smart economic policy to artificially keep money cheap – but I do enjoy borrowing at low rates to invest in more property!

What about you?

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Mortgage interest rates area heading up!

This morning, the Bank of Canada announced what many of us were expecting; they have raised the prime interest rate by a quarter percent, to 0.75%. This will likely put pressure on variable rate mortgages.

Mortgage ares are still very affordable. We have real estate investors buying properties, and getting loans with very low interest rates.

My friend Bev Gay, from STS Mortgage Pros in Kitchener, says that ‘banks will raise their prime lending rate today from 2.5% to 2.75%.’

(see also: More analysis on the Bank of Canada interest rate hike)

Here is the full press release from the Bank of Canada:

“Bank of Canada increases overnight rate target to 3/4 per cent

OTTAWA – The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the deposit rate is 1/2 per cent.

The global economic recovery is proceeding but is not yet self-sustaining. Greater emphasis on balance sheet repair by households, banks, and governments in a number of advanced economies is expected to temper the pace of global growth relative to the Bank’s outlook in its April Monetary Policy Report (MPR). While the policy response to the European sovereign debt crisis has reduced the risk of an adverse outcome and increased the prospect of sustainable long term growth, it is expected to slow the global recovery over the projection horizon. In the United States, private demand is picking up but remains uneven.

Economic activity in Canada is unfolding largely as expected, led by government and consumer spending. Housing activity is declining markedly from high levels, consistent with the Bank’s view that policy stimulus resulted in household expenditures being brought forward into late 2009 and early 2010. While employment growth has resumed, business investment appears to be held back by global uncertainties and has yet to recover from its sharp contraction during the recession.

The Bank expects the economic recovery in Canada to be more gradual than it had projected in its April MPR, with growth of 3.5 per cent in 2010, 2.9 per cent in 2011, and 2.2 per cent in 2012. This revision reflects a slightly weaker profile for global economic growth and more modest consumption growth in Canada. The Bank anticipates that business investment and net exports will make a relatively larger contribution to growth.

Inflation in Canada has been broadly in line with the Bank’s April projection. While the Bank now expects the economy to return to full capacity at the end of 2011, two quarters later than had been anticipated in April, the underlying dynamics for inflation are little changed. Both total CPI and core inflation are expected to remain near 2 per cent throughout the projection period. The Bank will look through the transitory effects on inflation of changes to provincial indirect taxes.

Reflecting all of these factors, the Bank has decided to raise the target for the overnight rate to 3/4 per cent. This decision leaves considerable monetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.

Given the considerable uncertainty surrounding the outlook, any further reduction of monetary stimulus would have to be weighed carefully against domestic and global economic developments.

Information note:
A full update of the Bank’s outlook for the economy and inflation, including risks to the projection, will be published in the MPR on 22 July 2010. The next scheduled date for announcing the overnight rate target is 8 September 2010″

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This is a terrific choice for Canada, and is yet another event that will draw Canadian’s attention to the Waterloo Region, one of the most vibrant communities in Canada.

David has been a major influence for good in our community, inspiring the Barnraiser Award which is presented ‘annually to an individual who contributes to the region’s tradition of inspirational, collaborative achievement.’

This award was inspired by a speech David gave that I was lucky enough to attend, where he laid out 10 goals for our community, to truly be a world class knowledge destination.

University of Waterloo celebrates appointment of President David Johnston as the next Governor General of Canada:

The University of Waterloo and its alumni around the world proudly learned today of the appointment of current president, David Johnston, as the next Governor General of Canada, effective October 1, 2010.

President Johnston shared some of his feelings with the campus and broader community, commenting:

“My wife Sharon and I are honoured to be asked to serve Canada in this way and will miss the Waterloo family enormously, but we will not be far away,” he said.

“I am a teacher as are my only brother and my sister. All five of our daughters are public servants. All the important things in life I’ve learned from my children. This is just one more lesson.”

…

“David Johnston exemplifies the highest qualities of leadership and commitment to public service we have in Canada. The University of Waterloo is fortunate to have had him as its president for the past 11 years, a time when Waterloo has grown in innovation, accomplishment and profile in Canada and around the world,” Harding said.

“While we are losing a great president, Canada gains a splendid individual and a community leader who will represent all Canadians with great distinction as our next GG. We, his Waterloo family, are so grateful for his leadership and we are proud of him.”

Mike Lazardis, co-CEO and founder of RIM (Research In Motion), and Waterloo’s Chancellor Emeritus, said Johnston “has led the University of Waterloo during the most prolific growth period in its history. He has worked tirelessly to position the University of Waterloo as a world-class institution of math, science, engineering, health and the arts.

“David’s strong understanding of law and the Canadian Constitution, combined with his great communication skills, charm and real ability to achieve consensus amongst stakeholders, will serve him well in the role of Governor General. David’s appreciation of the importance of higher education, scientific research and private-public partnerships also distinctly qualifies him for the role.”

…

During his 11-year tenure at the University of Waterloo, David Johnston oversaw unprecedented growth in the university’s reputation, research capacity and leadership capabilities.

Of his many accomplishments, he will be especially remembered for:

Putting the University of Waterloo, and the surrounding region, on the national map as a centre for talent, ideas, and innovation.

    * He led Campaign Waterloo, which raised in excess of $500 million to
        support the university's scholarship, students, and key building
        projects.

    * The Institute for Quantum Computing, founded in 2002, has become a
        leading centre for development of ideas that may lead to a revolution
        in how we store and transmit information, among many other things.
        The institute moves into the $160-million Mike and Ophelia Lazaridis
        Quantum Nano Centre in 2011, one of five current major building
        projects underway on the uWaterloo campus.

    * Leading research groups have formed and grown under President
        Johnston's tenure, including the Water Institute, the Waterloo
        Institute for Sustainable Energy, the Propel Centre for Population
        Health Impact, the Waterloo Centre for Automotive Research (WATCar),
        and the Interdisciplinary Centre on Climate Change. Research funding
        for the university has nearly tripled in this decade from $61 million
        in 1999 to $170 million in 2009.

    * He has encouraged talent and ideas through VeloCity, the university's
        unique "dormcubator" residence for student entrepreneurs, and the
        Accelerator Centre, which provides a fertile environment for start-up
        high-tech firms developing new products and services.

    * 2001 saw the launch of Waterloo's Research and Technology Park, a
        100-acre development on the university's north campus supported by
        the City of Waterloo, the Region of Waterloo, and the provincial and
        federal governments.

    * The university's School of Architecture opened in a renovated silk
        mill in downtown Cambridge in 2004, a partnership of the university,
        local business leaders, the City of Cambridge, the Region of
        Waterloo, philanthropists, and the provincial government.

    * Waterloo's health sciences campus, anchored by Canada's only co-op
        School of Pharmacy that opened in 2009, was made possible through the
        investment and vision of the City of Kitchener, the Region of
        Waterloo, the provincial and federal governments, and the university.

    * Ground will break this fall for a new Stratford Campus focused on
        digital media, a joint project of the City of Stratford, corporate
        partners including Open Text, the university and the provincial and
        federal governments.

Inspiring the community through his vision of a “Knowledge Capital” that has raised the sights of Waterloo to aspire to world leadership.

    * In 2007, the City of Waterloo was recognized as the world's Top
        Intelligent Community by the Intelligent Communities Forum.

    * President Johnston's vision includes a community where universities
        are innovative leaders, healthy living standards rise, investments in
        research and development transform, smart infrastructure is
        developed, and social innovation is championed.

Championing experiential education and the university’s co-operative education program, the largest of its kind in the world, which nurtures Waterloo’s students’ ideas and teaches them how their ideas are their most valuable offering in Canada’s knowledge economy.

    * The William M. Tatham Centre for co-operative education and career
        services opened on the Waterloo campus in 2002, a building dedicated
        solely to supporting and growing the university's co-op program.

    * Half of Waterloo's undergraduate students are part of the co-op
        program, with 13,000 students matched with 3,000 employers world-
        wide.

David was also principle of McGill, as well as a member of Harvard’s rowing team

For his part, Johnston said he was “profoundly” touched by the appointment and relished the opportunities his new job will provide. “I’ve had the good fortune to witness Canadians’ creativity and our ties to the world, as well as our diversity and our vitality,” he told reporters in Ottawa. “The opportunity to see these values at work across the country means a great deal to me.”

Johnston, a legal scholar and current President of the University of Waterloo, led McGill for 15 years, from 1979 to 1994, before returning to the Faculty of Law to teach. In 1997, he was named Chairman of the Board of Overseers of Harvard University, his alma mater. He assumed the presidency of the University of Waterloo in 1999 and has guided that institution to new levels of national and international recognition.

“David Johnston has made an enormous contribution to higher education in Canada,” said Heather Munroe-Blum, McGill’s current Principal and Vice-Chancellor. “We at McGill are absolutely delighted to see this inspired choice to be the Queen’s representative in Canada. His appointment is both a recognition of his prodigious talents and sterling reputation, and an important symbol of the vital role higher education, research and innovation plays in this country’s prosperity and progress in the global community.

“Prof. Johnston has truly made a very real difference everywhere he has served,” Munroe-Blum said.

The governor-general is appointed by the Queen on the advice of the prime minister and acts as the Queen’s representative in Canada. The term is five years and can be extended to seven.

On being sworn in as Governor-General, Johnston automatically becomes the official Visitor of McGill University. This little-known role dates to the Royal Charter of 1852, under which McGill operates. At the time of the Charter, the Governor of Lower Canada was appointed as the Visitor, a role that since Confederation has been played by the Governor-General of Canada. The post is ceremonial; although the Visitor does have the power to disallow University statutes, that power has never been exercised.

McGill awarded Prof. Johnston an honorary doctorate of laws in 2000

Everyone I’ve spoken to in Kitchener Waterloo is exceedingly proud of David’s appointment. Congratulations Mr (soon to be) Governor General!

Do you know David? Please share a comment about him below

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Leading index suggests robust growth

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