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| Aura Construction Update - October 23rd, 2012 |
Take heed skyscraper geeks, of the latest constructon photo of the Aura Skyscraper. Currently under construction at the corner of Yonge and Gerrad, this landmark tower looks set to open up it's retail shops shortly even as the skyscraper construction contiues unabated overhead. This project is being developed by Canderel Stoneridge out of Montreal. Construction continued today, as word came from the Germans over at Emporis, that Toronto had taken a 2 to 1 lead of New York City in the area of Skyscaper Construction. Toronto now has 147 highrises and Skyscrapers under construction, compared to just 72 for New York. The total for New York has fallen from last year to this. The economy south of the border is growing, but it seems that the Toronto Centred economy can outdo it, step for step. Although many consider what Toronto to be going through as "The Great Toronto Condo Bubble" the construction, and the sales go forward full steam. Even a 20% drop in new condo sales would bring Toronto to a level of 22,000 condo unit sales per year. A number big enough to launch on their own over 50 condo tower projects this year.
The Toronto Condo Boom
Toronto Condo Living has taken off over the last few years, and the redevelopment in North York Centre, Downtown Toronto, Mississauga and other areas has been nothing short of mind-blowing. Downtown Toronto and North York Centre might not be recognizable just due to the speed of the construction and development. Although there are some that are opposed to increased condo density, we can't discount the benefits many with regards to increased higher use of transit, walking biking and other alternate methods of transport as opposed to using the car. Toronto just might be a leader, outside of Manhattan (New York City) in this respect.
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