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UrbanToronto President and Co-Founder Edward Skira recently sat down with Andrew LaFleur of TrueCondos.com for an interview about the history of our website, the state of the Toronto condo market and much more. The podcast features insight about the increasingly prominent role that the UrbanToronto.ca community plays in the Toronto development scene, as well as touching on issues like how design and planning can directly impact the real estate market.
Some of the topics discussed are the rising cost of buying a new home downtown, and the investment potential for buyers who purchased in certain areas at the start of the boom.
Prices have gone up significantly. Unit sizes have come down significantly. I remember the initial phase of CityPlace on Front Street. I think you could get that for $99,000. Think about getting a condo on Front and Peter for $99,000, brand new construction today.
Also discussed is the change in the size of new buildings over the years, with taller and taller ones becoming the norm as land values increase.
When we first started the site, if a 20-storey building was announced everybody was really excited. A couple of years later 30 storeys was amazing, and now if somebody announces 50 it's like ho-hum. It’s really crazy what's happened!
Most importantly, the interview touches on how condominium growth, while resisted by some, is actually one of the most important ways for a city to add vitality to neighbourhoods while mitigating urban sprawl.
I talked to a lot of people who complain about condos who said, “Oh, not another condo.” My response to them is that they’re helping making these neighborhoods vibrant, instead of having people live in sprawl further and further out.
You can listen to the full podcast with Edward Skira by visiting this link.
