khris
Senior Member
Construction continues on York Street office building in Toronto
WILLIAM CONWAY/PROGRESS PHOTOGRAPHY
WILLIAM CONWAY/PROGRESS PHOTOGRAPHY
What is more surprising to me is that New York City, which has a higher vacancy rate than Toronto, is about to dump millions of square footage of new office space onto their market. That can't be good for them.
Couldn't a higher vacancy rate be considered a good thing in the sense that encouraging lower psf rates through greater inventory might attract more corporate business to the core and help Toronto compete with the massive cheaper suburban business centres?