Toronto Forma | 308m | 84s | Great Gulf | Gehry Partners

2nd Forma Tower will get built. Sales process will likely be around 2026-2027.

New completions of Condos fall to almost nothing in 2028. All this excess supply right now peaks 2025, while rates are falling fast. The supply/demand imbalance will flip by the end of next year or early 2026 into a seller's market, especially on Condos people want to actually live in, not buy to rent.

The Condos that are completing do not satisfy the needs of higher net worth individuals (yes, the demand is still there). The first tower sold quicker and at higher prices than originally projected.

Dream Impact (MPCT-UN.TO), which owns part of this development, added recently in their projections occupancy of the 2nd tower is 2032, meaning there are plans happening to start the sales process of the 2nd tower. You can find this in their Financials.

.
Condo Completions and Occupancies (1).png
 
RCEO said:
2nd Forma Tower will get built. Sales process will likely be around 2026-2027.

New completions of Condos fall to almost nothing in 2028. All this excess supply right now peaks 2025, while rates are falling fast. The supply/demand imbalance will flip by the end of next year or early 2026 into a seller's market, especially on Condos people want to actually live in, not buy to rent.

The Condos that are completing do not satisfy the needs of higher net worth individuals (yes, the demand is still there). The first tower sold quicker and at higher prices than originally projected.

Dream Impact (MPCT-UN.TO), which owns part of this development, added recently in their projections occupancy of the 2nd tower is 2032, meaning there are plans happening to start the sales process of the 2nd tower. You can find this in their Financials.

.
View attachment 608146
Click to expand...
You do realize a lot of these projects will be pushed to following years? so until end of a decade we will see above average rate of completion compared to the 2014-2023 period. If they are smart, they won't even put Forma onto the market until at least 2028 if not later.
 
toronto647 said:
You do realize a lot of these projects will be pushed to following years? so until end of a decade we will see above average rate of completion compared to the 2014-2023 period. If they are smart, they won't even put Forma onto the market until at least 2028 if not later.
Click to expand...
But of course it will get built. Two Gehry Towers!!. Original master design went from 3 to 2 buildings. It’s not going from 2 to 1 building.
The market & city will be in much better shape by 2028. Right!?
 
You must log in or register to post here.

Back
Top