Welcome Guest!
In order to take advantage of all the great features that Waterloo Region Connected has to offer, including participating in the lively discussions below, you're going to have to register. The good news is that it'll take less than a minute and you can get started enjoying Waterloo Region's best online community right away.
or Create an Account

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Failed Proposals - An Increasing Problem?
There was an article in the Globe and Mail recently about the increasing number of failed proposals in Toronto.

(link = https://www.theglobeandmail.com/real-est...-projects/)

I wondering if we could stretch this discussion to Waterloo Region. What projects do you feel are most vulnerable to being cancelled? What are some recent proposals that you wish were not cancelled? Are we heading in a similar direction as Toronto?

Whether you think we're in a real estate bubble or boom, financing has been extremely loose in many ways the last few years. Eventually it will tighten. Eventually demand will fall, too.

The one that I would personally really, really like to see built out, but the one that I think is most at risk of not being perhaps even started, is Sixo, or whatever it's called. I'm excited by the prospect, but not very optimistic of it getting done before conditions change.

I do think that the situation in KW is different than in Toronto. The Globe is talking about projects that are fully sold that can nonetheless not secure financing, or that have run into planning issues. Somehow the prospect of a major condo development selling out, then falling apart at the OMB, doesn't seem as likely here.
Proposals have been floated and later abandoned in Kitchener for as long as I can remember. Whether specific pre-sale condo projects are at risk at the moment I couldn't say.
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:
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.
« Next Oldest | Next Newest »

Forum Jump:

Users browsing this thread: 1 Guest(s)

About Waterloo Region Connected

Launched in August 2014, Waterloo Region Connected is an online community that brings together all the things that make Waterloo Region great. Waterloo Region Connected provides user-driven content fueled by a lively discussion forum covering topics like urban development, transportation projects, heritage issues, businesses and other issues of interest to those in Kitchener, Waterloo, Cambridge and the four Townships - North Dumfries, Wellesley, Wilmot, and Woolwich.

              User Links