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PAGE 10 â€" WATERLOO CHRONICLE, WEDNESDAY, JULY 10, 1985 Tightened rent controls will lead to cuts in apartment construction and intensify an alreadyâ€"serious shortage of rental units in Kitchenâ€" erâ€"Waterloo, local landlords and developers maintain. Melodee Martinuk Chronicle Staff ‘"Ridiculous,"" ‘"unfair," and "‘disâ€" appointing" is how individuals like Peter Hallman of Hallman Conâ€" struction, and Waterloo Regional Apartment Management Associaâ€" tion President Lew Murray see the new provincial government‘s deciâ€" sion to limit rent increase to four percent, down from six, and extend the ceilings to every rental apartâ€" ment in the province. Current limits apply only to those units built prior to 1976 and with rents of less than $750. ‘Unfair‘ controls will intensify current woes Hallman, whose company owns and manages some 3,000 apartâ€" ments in Waterloo Region, said the move was "very, very disappointâ€" ing," and predicted it will have a "very negative impact on the conâ€" struction of rental suites in Kâ€"W. "As an investor, I‘m going to put my money where I can get the best return, and that isn‘t in apartment construction," he said. Despite its impact on the large developer, it‘s the "little guy" who will feel the full impact of the tightened rent regulations, said Murray. "Controls are driving the small guy out of business â€" it‘s absolutely ridiculous," he said. "It‘s something dear to the heart of politicians looking for votes. The politicians talk about fairness, but they don‘t follow it through. It‘s not fair to put one segment of the investing public under such tight controls." Formerly the owner of a 10â€" unit building in Kitchener, Murray said he put his property up for sale after hearing rumors that the Tory gov â€"Business Weekâ€" \yazf| SLEEPING ffl BAGS... 'f »‘1,’/ v'é{s’( 1 CORNER ONTARIO AND DUKE STS., KITCHENER AND WATERLOO TOWN SQUARE 430 Albert Street, Waterloo Complete Collision and 884â€"0550 Northdale Auto Body ernment was considering four per cent limit on rent increases. One company which is already reâ€"examining its construction plans is Stamm Investments, which owns approximately 1,000 units in the area, including 275 built during the past three years on Wissler Road in Waterloo. Stamm spokesman Nelâ€" son Kraus said his company has an option to purchase land on River Road in Kitchener, where they planned to build 300 units, but "obviously that will fall through. We‘re not going to build apartments anymore. "I decided to take my losses and get the hell out. It just wasn‘t profitable, and at the present time there are dozens of other places for the little guy to put his money," he commented. Murray added that he can make more money in 10 days on the stock market, than he could in a year as a landlord. "Our country has thrived because of the freedom of enterprise, and the government is destroyed it," Kraus said. All three argue that rent controls are going to hurt every taxpayer, as the government is forced to increase subsidization of _ apartment conâ€" struction to alleviate housing shortâ€" ages. "Of course the government will have to pump more money into rental construction â€" where are the people going to live?" said Kraus. "If private enterprise doesn‘t do it, the government will have to, and it costs the government a lot more to build than it does us." Hallman added that all the buildâ€" ing he‘s erected in recent years have received the backing of both the federal and provincial govern ments, "so they could be put on the markets at an affordable rent."‘ "If rents were allowed to run at the market rate, more units would be built, then we‘d compete and rents would drop," he concluded. The Seagram Museum is pleased to anâ€" nounce that Michel Long has been apâ€" pointed to manage Spirits, its firstâ€"class restaurant featuring international cuisine in addition to the day to day operation of the restaurant. Michel Long will supervise all areas of food and beverage service at the museum facility Mr Long‘s 15 years of experience inâ€" cludes positions with the Chateau Fronteâ€" nac, the Hotel Bonaventure and the Queen Elizabeth Hotel in Quebec, as well as the Windsor Arms Group in Ontario. As his first project. Michel Long plans to bring his exâ€" pertise to a revised menu. He will be adding a dash of his own culinary creativity while maintaining â€" the international flavour of Spirits Restaurant & Spirits Restaurant at The Seagram Museum 57 Erb St. W. Waterioo 885â€"1857 controls. Owners of both big and small apartment buildings will feel the impact of tighter rent A property standards bylaw sets out minimum standards for the condition, maintenance and occupancy of all properties within the city, and outlines procedures for the administration and enforcement of the bylaw While most aldermen were in agreement some sort of minimum standards should be set, others felt the area could be a very touchy one. ‘"There has to be a limit to how far we go with a person‘s right. We should start with a more Mark Bryson Chronicle Staff The city Planning Department presented a draft bylaw to council Monday night and asked for feedback from aldermen on things that had to be changed â€" and feedback they got. The push is on to have a property standards bylaw in Waterloo by the fall. Particulars covered under the draft bylaw range from how tall you may let your grass grow to what kind of pets you keep around the home. Plenty feedback on draft property standards bylaw THIS COUPON VALID FOR A ONE COUPON PER VEHICLE "LET US HELP YOU" YOUR FRIENDS, TXE PIONEER TEAM 63 COURTLAND AVE. E. KITCHENER 743â€"791 1 e COMPLETE PARTS DEPARTMENT e EXPERIENCED, LICENSED STAFF e REPAIRS TO ALL MAKES & MODELS e DRIVEâ€"LINE SPECIALISTS PIONEER TRANSMISSIONS OPEN 8:00 a.m.â€"6:00 p.m. Mon.â€"Fri. 8:00 a.m.â€"12:00 p.m. Saturday basic guideline and work from there," said Ald John Shortreed. His comments came on the heels of Ald. Brian Turnbull‘s caution that "council tread lightly in this area." Council did agree that the committee of adjustment act as a liaison between property owners who have difficulty with the finished bylaw, although the committee was unaware of their new appointment at the time they received it. Mayor Marjorie Carroll said she would drop Monday night‘s draft bylaw took seven months to compile since it was first presented last December and was greeted with heavy criticism for being too stringent. If the latest reaction was any indication, there will be a few more belt notches loosened before the bylaw comes back again. "It‘s fairly subjective and difficult to clarify," said Turnbull. "Who‘s to determine what a weed is and what is excessive and unsightly?" PIONEER TRANSMISSIONS 63 COURTLAND AVE E KITCHENER 743â€"7911 OFFER EXPIRES JULY 31/85 {Continued on page 11} Chronicle photo