yyzer
Senior Member
from an article in the Star, on the slowing market, found here..
http://www.thestar.com/Business/article/537438
this..
http://www.thestar.com/Business/article/537438
this..
Some analysts see the new-build condo sector, with almost 300 projects on the market, as particularly vulnerable to a downswing.
Some projects are not expected to go ahead as demand falls and financing gets harder to obtain. But some developers think that may be a good thing.
"It's not a sign of anything other than business is healthy and things need to be weeded to be stronger," says Julie Di Lorenzo, Diamante Development Corp. co-president. "Name me one business area that doesn't shed the weakest links. New players will gain more experience, fine tune their business plans and come back into the market."
Last week the condominium developer held a groundbreaking for its luxury project The Florian, where prices start at $1 million. The developer took out a Canada Mortgage and Housing Corp. policy that insures construction financing, she says.