Toronto 1891 Eglinton East | 167.08m | 52s | Mattamy | Arch. Unfolded + Urban Agency

Northern Light said:
You don't 'get' alot of things..........you're boosterish for growth with blinders on, and always have been.



Yes.



No.

If this were true, prices would be falling.

You need to understand supply and demand better.



No one is talking about that. We're talking about ownership units that are built for investors, incidentally rented; instead being purpose built rentals.



Sure, we want more rental units, but what we have is investor-owned units, some (not all) of which are being rented.

They are sized too small to fit investor budgets and preferences.

They aren't sized or laid out for occupants/renters/live-in owners.

This notion that units would not be built but for investors is BS.........

There were few, if any investor owned units before the 1990s........

Housing was still built and it was far more affordable than today.
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Explain it to me then how are investors stopping non-investors from buying a condo in Toronto????
Will developers not sell to anyone who wants to buy??
Aren't developers seating on a ton of units that they are desperate to sell??
 
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Northern Light said:
I'm fascinated by how certain price points have held, not just on the residential side.

Look at the this charge of Commercial Office Space rent vs availability from Cushman Wakefield's latest Market Beat:

View attachment 520936

Source: https://cw-gbl-gws-prod.azureedge.n...2023.pdf?rev=33406b08bff54c28a7d34ee48685882f

The rent ask is defying gravity and logic. Triple the vacancy rate, rent is actually above 2019 levels!
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Very interesting - this seems to be a constant theme among residential and commercial asset classes as sellers continue to hold firm on pricing.. it's only a matter of time before one break and the floor gates open.

One cation as it relates to the Office graph above however, the incentives and inducements that are being offered now to lease space are getting insanely high, which is (purposely) not highlighted in the graph. Although face rental rates remain unchanged, there are other levers people are offering to keep those rental rates up. Smoke and mirrors!
 
Obsidian said:
Explain it to me then how are investors stopping non-investors from buying a condo in Toronto????
Will developers not sell to anyone who wants to buy??
Aren't developers seating on a ton of units that they are desperate to sell??
Click to expand...

Home ownership is unattainable in Toronto. This doesn't happen without investors driving up values to sustained unaffordability. The median in Toronto can only afford what they can afford irrespective of supply and demand. That this will be resolved by building more housing (and in tall towers no less) is fantasy
 
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There are more then a number of interesting posts here, not sure they are in the right place, but let’s talk about interest rates.

Interest rates have been going through charted cycles since the 1700’s. And they tend to rise and fall reflecting the landscape of the macro economics of the times. Governments can and do influence rates, but control them, not so much. Many feel that current rates will gently trend down beginning sometime next year, but there are others that feel rates will remain stubbornly high for some time yet, and may actually trend a bit higher.

I see where the government is prepared to announce ‘billions’ in low cost loans for housing. The devil is always in the details, but the effect in bridging the housing gap will be interesting to measure, given the information previous posters have put up.

The Modular housing project in Hamilton is one that could be readily adopted for walk up units. There is a ready capacity in Ontario to build ‘factory’ housing, and one that could be scaled up. Modular might not be to everyone’s taste, but it could be a tool in the toolbox.
 
The government has already shelled out billions in loans. The largest, $1.4 billion, to the Squamish Nation to finance the construction of 3000 homes in Vancouver. It's a drop in the bucket.

Modular can be nicer than many custom homes built in Toronto. It's 2023. 3D printed construction. Nidus3D out of Kingston Ontario is a leader in proving this tech on the continent
 
So. 15 more billion in deficit spending for 30,000 homes for a growing number of people that come to Canada to be educated, made healthy, etc. and then go back home afterwards as they don't consider being able to afford no more than a 450 square foot one bedroom condo/ rental a high standard of living. .
 
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Also, Merit Hearing on the OPA was conducted, no decision posted:

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Site is fenced off, the old plant is long gone and drain/site service is underway to support the sales centre.

Sales Centre building permit was issued end of August.

Disposition over all is still at the OLT.

New SPA docs (Oct '24) for Phase 1 here. @Paclo will be along with any interesting details in due course.
 
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Northern Light said:
Site is fenced off, the old plant is long gone and drain/site service is underway to support the sales centre.

Sales Centre building permit was issued end of August.

Disposition over all is still at the OLT.

New SPA docs (Oct '24) for Phase 1 here. @Paclo will be along with any interesting details in due course.
Click to expand...

Note that there are two active and un-merged OLT cases here: one for the masterplan OPA/ZBA and a separate appeal for the Phase 1 Site Plan Application here. Phase 1 is on the immediate southeast corner of Eglinton East & Pharmacy; and is currently contemplated as a mixed-use 48 & 44-storey building including office, retail & daycare. Elevation drawing below:
PLN - Architectural Plans (March 2024) - 1891 Eglinton_Phase 1_Architectural Package-17.jpg
 
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