Real Estate News

Toronto Condo Boom Puts The City In Danger Of Losing Its Identity

Image by tookapic from Pixabay

Is it any wonder why the new c-word in Toronto is condo? Though the condo has brought tens of thousands of new residents to the city, it is also turning Toronto into something with all the liveliness of a high-rise subdivision. Though one can’t blame property owners for selling out to developers – who doesn’t want to monetize their assets? – we are closer than ever to killing the real estate goose that lays the golden egg.

With its diversity and vitality, Toronto has managed to attract countless bright young things who in their turn have brought more life and energy to the downtown core and much of the city beyond. The urban exodus that began in the 1950s and ‘60s has turned around; now people, families and businesses want back in. While the majority of Canadians still live in suburbia, the country’s cities have never been more in demand. Toronto, as well as Vancouver, Montreal and Ottawa, find themselves under growing pressure to keep up with growth let alone control it.

Continue to read on: Toronto Storeys

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