Builders are also ‘right-sizing’ to create more space-efficient and, thus affordable, units. With limited supply, the cost of detached, semis, and townhouses has continued to escalate.Ĭondominiums are a practical alternative, said Garrett Stonehaven, a prominent real estate developer and CEO of HavenSent Developments, Inc. While it’s common knowledge the Greater Toronto Area’s (GTA) high-rise market is through the roof, most people don’t realize how far along it has come: as of this reporting period, high-rise condominium suites make up approximately 60 percent of total new homes sold.Īccording to the Urban Building Association (U-BUILD), several factors are behind the condo surge, including a shortage of land. Certainly she’d never been invited to her office. Why would the editor-in-chief of Urban Living Publications want to meet with her in person? Outside of the obligatory appearances at builders’ conventions and awards galas, Emily couldn’t remember a time when she’d met with Michelle face-to-face. She blamed the lack of concentration on her upcoming meeting with Michelle Ellis. Less than five hours to meet her Urban Living deadline, and she still hadn’t come up with a new way to spin the same old condo stats. Emily Garland stared at the blank white page on her computer screen.
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