Land is fixed and limited, as population growing in the golden horseshoe, provincial government has to take some steps to tackle the disappearing fields and save fauna.
Within the real estate market, there are in turn two distinct construction types. Low rise homes and High Rise homes.
The market for new homes in low rise buildings is fairly tight and prices have been growing rapidly . Units in low rise buildings provide more space, privacy. But lots of land is needed for such construction.
Condo development in the GTA has focused on high rise projects where the economics of construction has been the most favourable. Condos in high rise buildings have accounted for over 60% of supply of overall new homes in the region since 2011, compared to just 28% in 2000 according to TD report and we think this is a step in the write direction. Halo Condo by Cresford is one such building which is 45 storey located at Yonge street Toronto. This will house 397 houses in one small piece of land.
The Community Foundation of Toronto is a registered charitable foundation committed to land use pressure group helping city , province and federal governments to work for better future. Working toward a land use plan will require time andpatience. We must keep the big picture in mind. We’re doing this, after all, for our children and grandchildren.