Sam!
New Member
With the buildings that have been approved to build such as Gallary square, Markham square and York campus. Why is it taking a long time to get shovels into the ground?
I believe Markham square development estimated to complete their project at the same time or shortly after York university campus, around 2021. However neither have commenced construction.
I believe rent rates for the retail in downtown Markham must be expensive. I have noticed a few businesses open, then shortly after close. Also numerous retail space still sitting vacant.
Possibly why Remmington is building slow?
1) Most likely financing and resources. Projects take a lot of time, people and money; Remington as a single developer probably don't have the resources to manage and build too many at a time. Building costs have skyrocketed in recent years due to the high amount of construction projects in the GTA.
2) Holding for future state. They still can't get rid of Buttonville and the limitations it brings to build up. They probably want to hold off on projects so that they can build higher.