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Toronto Condo Market Remains Steady into 2013
The L Tower is becoming one of Toronto's true landmark skyscrapers. Not unlike the World Trade Centre in New York City, or the Willis Tower in Chicago. The L Tower has the potential to define the Toronto skyline for decades to come. It was designed by Daniel Libeskind and it will rise 58 floors and 205 meters. It is being developed by Cityzen, Fernbrook Homes, and Castlepoint Developments. The building in the foreground of the picture is the Dominion Building, which houses offices of Canada Post, and Canada Customs and Revenue.
The Street running in from of the buildings is Front Street, it is the Street under which the Yonge Street Subway lines runs, to Union Station. It is currently being renovated to allow for a second platform to be created for the increased demand at the station. All of Union Station is currently undergoing a massive renovation to increase full station capacity to some 800,000 passengers per day.
Condo Sales Down 7% from Historic Average for November 2012
RealNet.ca stated that condo sales in the GTA were down just 7% in November, from their historic average compared to the long term sales of condos in the GTA. However compared to last year, which was a record year for condos, sales were down 59%. Although last year one must remember that there were a record 28,0000 condo sales in the Toronto area for the year. Condo Sales in the GTA were raised by the almost sellout performance of Tridel's Ten York development which has rocked the condo community back into action with it's sales performance. They sold 85% of the 694 units they made available to the public upon release of the development
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