Karma Condos | 165.80m | 50s | Lifetime | architectsAlliance

Observer Walt

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No. Take a look at the stock charts from today.
Not sure what this comment has to do with anything. The Toronto real estate market is not yet back to late 2007 / early 2008, but that's probably a good thing. The word we kept hearing at that time was "overheated". I like the current market better than the overheated one, and much better than the dead one! There is some pent-up demand for condos in the central city, both as places to live and as investments.

An encouraging trend is the stronger willingness to look at sites on or just off Yonge Street, in the former dead zone north of College. The sharp contrast between Bay north of College and Yonge north of College may be on the verge of fading, if we keep getting proposals like this and some other recent ones.
 

Mike in TO

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Is it safe to say that the recession is over? (At least for Toronto construction projects.) The pace of major new project announcements (such as this one) seems back up to 2007-2008 levels.

Mongo, it definitely is not, sales activity came to a virtual halt in early May and traffic through sales centres has been very slow since then. The numbers in fall 2009 and the first four months of this year were all very strong, but the May numbers were weak and when the June numbers come out in July they will be down sharply. Activity is expected to remain soft for the next several months.
 

khristopher

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Is it safe to say that the recession is over? (At least for Toronto construction projects.) The pace of major new project announcements (such as this one) seems back up to 2007-2008 levels.

The recession has been declared over since what? Late fall or early winter. Recessions are declared over when there is 3 months of rises in employment I believe. There are other factors too. What we're dealing with now, is the other side. Coming up from the bottom, which can see fluctuations, but never a full return to the bottom.
 

buildup

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The recession has been declared over since what? Late fall or early winter. Recessions are declared over when there is 3 months of rises in employment I believe. There are other factors too. What we're dealing with now, is the other side. Coming up from the bottom, which can see fluctuations, but never a full return to the bottom.

Recessions are over when real (net inflation) economic growth (GDP) resumes for a couple of quarters. But just because GDP turns upwards doesn't mean activity has recovered to previous levels. Meaning a recession can end, but growth can remain weak and unemployment high.
 

Redroom Studios

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the recent slow down in sales has been mainly attributed to the new mortgage regulations coming online. In the business report I watched they stated that there was a frenzy of activity as people rushed to get into the market before the new rules came into effect... so between all that spent demand and the stricter rules for new mortgages there has been a massive slow down in sales. The broader econonmic factors are probably quite secondary at this point.
 

maestro

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Pretty sure Lanterra is a siister to H&R and Lifetime has no connection to either of them and including Cadillac Fairview
 

Observer Walt

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Maestro, that is correct. Lanterra and H&R are related. Neither is related to Lifetime, which has been operated for many years by a gentleman named Mel Pearl. Their big development at the moment is Victory, just off Spadina Avenue at King. They also have a part interest in X2, at Jarvis and Charles.

Neither Lanterra nor Lifetime have any connection with Cadillac Fairview.
 

Architecturefan

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Maestro, that is correct. Lanterra and H&R are related. Neither is related to Lifetime, which has been operated for many years by a gentleman named Mel Pearl. Their big development at the moment is Victory, just off Spadina Avenue at King. They also have a part interest in X2, at Jarvis and Charles.

Neither Lanterra nor Lifetime have any connection with Cadillac Fairview.

This is true. You can also add 56 Blue Jays, 290 Adelaide and a part interest in M5V, Lumiere, 21 Avenue and the new Four Seasons to their list of recent development projects.
 

investican

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Lanterra is H&R's downtown Condo Projects' company.

Cadillac Fairview is owned by the pension fund.

Lifetime Developments (Lifetime Group) are the same people as BLVD Developments.

361342 ONTARIO LIMITED has owned this property since 1986.

My Guess is this is a long term investment company either trying to get into the condo market or more likely--get an approved development and sell it to a known developer.
 

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