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PAGE 14 â€" WATERLOO CHRONICLE, WEDNESDAY, JUNE 15, 1994 Residential construction starts edged higher in May from 1993 levels in the Kitchener Census Metropoliâ€" tan Area (CMA). According to preliminary figures by Canada Mortâ€" gage and Housing Corp. (CMHC), a total of 132 resiâ€" dential housing units were started last month, up marginally from the 121 units started in May 1993. May‘s starts of singleâ€"detached dwellings also increased to 111 units compared to 102 units starts a "The strong recovery in the resale market has genâ€" erated an increased number of moveâ€"up buyers lookâ€" ing for new singleâ€"detached units," said Glen Trevisani, CMHC Market Analyst. "Multiple unit starts consisted of a handful of semmiâ€" detached and row freehold units in May. Oversupâ€" plied rental and condominium markets are expected to keep the overall level of multiple starts for 1994 well below the level recorded in 1993." In Ontario, preliminary housing starts for May 1994 totaled 39,800 units seasonally adjusted at annual rates (SAAR), down from 43,7000 units in April. Nationally, May‘s housing starts increased to a seasonally adjusted rate of 156,900 units, 0.8 per cent below April‘s revised seasonally adjusted rate of 158,200 units. Waterloo‘s Gerrard wins Conestoga college award _ Housing starts getting stronger Tid Bz â€" James Gerrard, a graduating student in the Conâ€" chosen winner of Conestoga College‘s Mastercraft Award for academic year 1993â€"94. Gerrard, of Waterloo, will receive the award, which consists of an inscribed and framed college coat of arms plus a cheque for $500, when he graduates at the 26th Convocation of Conestoga College this Saturâ€" day. The Mastercraft Award recognizes student achieveâ€" ment in programâ€"related technical skills. Participatâ€" ng C Joe Hagerman * SECURITY + SERVICE + SELECTION Partner + NO FEES â€" RATES SUBJECT TO CHANGE Waterioo Office . agENTS FOR OVER 100 FINANCIAL INSTITUTIONS + SERVING ONTARIO SINCE 1978 620 Davenport Rd., _ Mac‘s Milk Plaza 729 Beimont Ave. W. 1601 River Rd. E. Waterioo LUstowel Kitchener Kitchener 746â€"8448 2915316 744â€"3020 895â€"1776 6 Tel: 578â€"5330 * Carpets * Wallcoverings * Draperies * Interior Designers * Paints * Mini Blinds & Verticals * Bedspreads * Custom Furniture -l See Us About Your New Or Existing Mortgage rAâ€"UDVYS 8.125% ing students first enter a programâ€"level skills competiâ€" tion. Winning entries then proceed to the collegeâ€"wide competition, which is judged by a panel of representaâ€" tives from Conestoga College program advisory comâ€" mittees and other persons external to the College who are recognized as craftspeople. Gerrard‘s winning project is the design and prepaâ€" ration of working drawings for a new clubhouse at a local golf course. His proposed facility includes a lo\xnge,adiningmom,}bnnquethlll“rithkikbm and storage, six squash courts, a pro shop, storage areas, locker rooms and parking areas. UW centre to study innovative financial instruments To keep pace with the everâ€"evolving world of high finance, the University of Waterloo‘s School of Accountancy together with the Departments of Ecoâ€" nomics and Statistics and Actuarial Sciences have proposed a new Centre for Advanced Studies in The centre aims to prepare wellâ€"versed specialists equipped to understand the innovative financial instruments and markets, as well as new theories of finance, reshaping today‘s corporations and capital markets. The centre awaits formal approval by the university‘s senate. .'l'hghlyqualified.tedmimflym.inedfimmespe- cialists are increasingly in demand and our proposed centre will take the lead in meeting this demand," said Prof. John Waterhouse, director of the School of The proposed centre aims to attract and retain internationally renown finance faculty, who will conâ€" duct forefront financial research and prepare wellâ€" trained graduates. Its new master of finance interdisciplinary program will educate students for specialists positions in financial institutions, busiâ€" nesses and accounting firms. Also, the centre will proâ€" vide and advisory service in finance for corporations, accounting firms and professional accountants. 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