05-23-2019, 09:40 AM
Proposals are floated in every city and fail to get off the ground, this is quite normal, I think. The Toronto situation is different as these are units that have actually been sold, and yet the construction never actually started, whether because of financials or approvals. Offhand, I cannot remember a project like that in our region.
Quoting the G&M article:
That jump in construction costs has not been as drastic here, either. Not has the frenzy of announcing and pre-selling projects.
Quoting the G&M article:
Quote:These projects all shared similar traits: Units were presold on or before 2016 (before condo prices began to rapidly rise in the GTA) and often lacked full planning approval. As the per-square-foot cost of construction kept rising, start dates kept getting pushed back.
That jump in construction costs has not been as drastic here, either. Not has the frenzy of announcing and pre-selling projects.