Very exciting times in Toronto, firstly we have a condo boom that has become renowned around the world. And now we have an office boom that is bring work, jobs and offices back to the core from the 905 wastelands.
Bay Adelaide 2 will be a similar almost twin tower to Bay Adelaide West or BAC1. The tower is being developed by Brookfield Properties.
This has demonstrated the strength of the Toronto Office Market. The demand for downtown space is expected to exceed 14 million Square feet over the next 5 years. That's enough for 14 office towers of 50 floors and 200 meters.
The boom is not over, people want to live downtown...
Cooling Housing Market Seen As Healthy for Toronto CondosAs 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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