Globe and Mail Centre - CancelledI had written a piece, this weekend regarding the Globe and Mail Head Office being built on the Toyota Dealership that previously occupied the space at the corner of Front and Spadia. Looks like the property was sold to Rio-Can Two Weeks ago, whom are now moving ahead with a new mixed use commercial residential project which does not include the Globe and Mail. At least not as the primary tenant of the property. Anyways, as I mentioned in the last post, Hoarding is up and site prep is underway on the property.
Toronto, things move so fast in this city even, a construction junkie can barely keep up.
Here is the previous proposal for the site:
Cooling Housing Market Seen As Healthy for Toronto Condos
As sales have declined from the historic highs of 2011, which as I have repeated on this blog was a record year for home and condo sales. So there was likely to be some pull back this year, and of course the doomsayers will jump on this as the Apocalypse heading our way. But let's be real, even though sales have dropped off rapidly from 2011, the prices haven't even budged, in fact they are headed up. This is because no one is in a rush to sell, there is no panic here, cooler heads have prevailed. Not only that but there have still been condo launches, successful condo launches, like that of Tridel's Ten York, and Remington and Easton's King Blue which look almost ready to go based on their first month of sales.
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