This Ontario town just shut everything down.

🛑 Northern Ontario Town Halts All Services

• The Township of Fauquier-Strickland is laying off all municipal staff and halting services effective August 1, 2025.

• The township has racked up an operating deficit of over $2.5 million over the past decade.

• Reserve funds are depleted, and cash flow is fully exhausted, leaving no money to operate core services.

• Services being halted include road maintenance, water systems, garbage collection, and fire protection.

• A proposed property tax hike of 190–230% was rejected due to the financial burden it would place on residents.

• The township has requested emergency provincial funding and help accessing a $2 million loan.

Why It Matters: This isn’t just a Fauquier-Strickland problem. Dozens of small towns face the same broken math. In the 1990s, Ontario shifted costly services like public health and social housing onto municipalities. Larger cities could sometimes absorb the costs through growth or higher tax revenue. But small towns with limited tax bases, were left trying to fund complex, expensive services on shoestring budgets.

🏢 Office Comeback Driven by Big Employers

• RBC and TD are implementing four-day in-office policies this fall, joining other major banks like BMO and Scotiabank.

• These return-to-office mandates are driving demand for AAA “trophy” office space in cities like Toronto and Vancouver.

• Vacancy rates in downtown AAA buildings are tightening: 3% in Toronto, 4.9% in Vancouver, compared to ~15% for lower-tier spaces.

• Some mid-tier (Class A/B) properties may benefit as overflow demand trickles down from fully leased trophy buildings.

Why It Matters: Trophy office space is becoming increasingly important in Canada’s commercial real estate market. With vacancy rates in AAA buildings already low, even small increases in office use could strain the available supply. As top-tier spaces fill up, demand may begin to spill into mid-tier buildings, gradually lifting overall occupancy.