In a stagnant Toronto condo market, not even three-bedroom units are selling

With a glut of condo inventory on the market and prices expected to drop further, Toronto’s condominium segment is seeing very little movement. But although demand is low for the investor-favoured studio and one-bedroom units, are the larger, family-oriented two- and three-bedrooms bucking the trend? “It depends on what you mean by larger units —

French pharmaceutical company against construction of new Toronto condo development

Canada’s largest biomanufacturing facility is objecting to a planned condo development at 1875 Steeles Ave. W.  near its Toronto campus. Sanofi Pasteur’s new $800 million vaccine manufacturing facility, spanning approximately 200,000 square feet, opened this past May at 1755 Steeles Ave W. The company produces pediatric and adult vaccines for whooping cough, diphtheria, and tetanus,

Toronto’s version of Central Park a key selling feature for newly proposed condo

Two acclaimed Toronto builders have joined together to build new condominiums on Sheppard Avenue West in Toronto’s Bathurst Manor neighbourhood, just minutes away from Downsview Park. In June, Almega announced a joint venture with Brixen Developments, to build a 12-storey mixed-use condo and rental-replacement building at 824 Sheppard Ave. W., towering above the neighbourhood. This

Opposition digs in to fight proposal to increase height of Midtown condo development

A proposal to expand the size and height of a mixed-use development at Bayview and Broadway is facing significant pushback from local residents. Both the Leaside Residents Association (LRA) and the Broadway Area Residents Association have expressed strong opposition to the plan. Back in 2021, an application was made to the City of Toronto for

Seven-storey boutique condo proposed for sleepy street in an upscale Toronto nabe

A new development application seeks to construct a seven-storey condominium building on a small residential street near the hub of Forest Hill Village. On July 12, Batory Planning + Management submitted a site plan application to the City of Toronto for the redevelopment of properties at 1-19 Thelma Avenue, which is just north of Spadina and

Toronto condo market has hit recessionary levels but prices still aren’t dropping

The GTA condo market is in a state of economic lockdown, according to a new report released Thursday by Urbanation with CIBC Economics. The report suggests that prices are too high for investors to buy relative to resale prices, rents and interest rates, while developers can’t lower condo prices due to high development costs. “As

Toronto condo sales plummet 20% while new listings skyrocket

The Toronto condo market has had an unseasonably slow second quarter, with sales down nearly 20 per cent compared to the same time last year and inventory levels continuing to rise. The Q2 condo market report by the Toronto Regional Real Estate Board (TRREB) reported that there were just 5,474 condo sales in April, May

One by One: Receiver seeks court approval for sale of two Mizrahi condo developments

There has been some progress in the receivership proceedings over two projects from Mizrahi Developments: a luxury condo at 128 Hazelton Ave. in Yorkville and a multi-tower project at 180 Steeles Ave. W. in Thornhill. On June 4, the Ontario court agreed to the receivership orders for both sites. Since then, KSV Advisory—the appointed receiver—has

Another One? Mizrahi’s second Yorkville condo project now in receivership

A receivership order granted last Tuesday, June 4, has appointed KSV Advisory as the receiver and manager over the property at 126–128 Hazelton Avenue in Toronto. The order effectively allows KSV to exercise control over the property moving forward. Constantine Enterprises Inc. (CEI), which has a 50 per cent stake in the condo project at

Towering 56-storey condo proposed for area already overrun with development

The Yonge and Eglinton area is one of the busiest intersection in the city for development and construction with multiple projects underway and more on the way including the game-changing Canada Square redevelopment of the TTC bus barns. Now, the tall tower trend is heading a few blocks north where a sleek 56-storey condominium is

Yorkville’s flower shop row to be razed for new condo

A proposal for a mid-rise condo in Yorkville, midtown Toronto, has been revised and resubmitted for rezoning. But a neighbourhood fixture is still at risk under the new plan. Taheri Development is looking to develop an 11-storey, mixed-use residential mid-rise condo building at 126 Avenue Rd., which will include 60 residential units (11 of which

Plans for Yorkville condo in heritage district resubmitted with updated design

A proposal for a mid-rise condo in Yorkville, midtown Toronto, has been revised and resubmitted for rezoning. Taheri Development is looking to develop an 11-storey mixed-use residential mid-rise condo building at 126 Avenue Rd., which will include 60 residential units (11 of which are replacement rental units). The property is located at Avenue and Davenport,

City set to plunk massive condo towers on Green P parking lots across Toronto

Despite much speculation, the Green P Parking Lot behind Eglinton Avenue near Avenue Road is not going to be developed, according to local city councillor Mike Colle.   “Let me be absolutely clear the city is not negotiating with the applicant on acquiring the Green P Parking Lot,” Colle said. “As I stated categorically at

Top Toronto developer says the condo market is poised for a rebound

Toronto’s housing market is heading into a recovery with sales surging month-over-month and year-over-year. But after a year of record lows for new condo sales in the city, will the condo market fare the same? Top developer Brad Lamb, president of Brad J. Lamb Realty, gives us the scoop on when to buy and what’s on the

Toronto faces lowest number of new condo sales in over two decades

After a year filled with its own share of challenges, stemming from inflation concerns, interest rate hikes and overall economic uncertainty, the Greater Toronto Area (GTA) condo market faced one of its most challenging years in history, according to a new report from Urbanation.  Released Thursday, the report revealed that not only did new condo