Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
So many GREAT replies and comments .... even on Canada's MERIT (by higher education level) immigration process, that promotes and pumps in its growth numbers US cities barely or cannot match. Chicago also NEVER overbuilds. It ALWAYS has cycles of heavy building then a period of absorption of what cane on the market. This cycle has been pretty awesome for it after the crash had it recover more slowly.
Toronto is the premier top city in Canada gaining vast educated immigrants alone. Much more then transplants from Canadians themselves.
Chicago does not zone to get high-rises, mid-rises or skyscrapers. Merely areas if allowed. Enough comments were made in past threads. That Toronto has PASSED ever US city but NYC basically already in metrics of its stardom rise. But there are other factors too that give a Skyline a Iconic IT FACTOR not totally on quantity.
Many are noting thus in replies. Has nothing to do with lessening Toronto or denying it its stardom fast rising growth.
If you don't mind me asking but what is fueling all of this growth in Toronto? The locals are telling me that the city is simply too expensive to live in and this is in part of allowing rich investors from other countries to buy properties. Essentially, it has inflated the market when there's no clear indication of demand for it.
I was there about a month ago and was just shocked at how it looked. From afar, even the Mississauga skyline looked as large as Dallas.
Condo starts do not happen in Toronto unless at least 80% of the units are presold. So there is absolutely demand. Try and buy in any of the buildings under construction, by the time the cranes arrive most of the units are gone.
Condo starts do not happen in Toronto unless at least 80% of the units are presold. So there is absolutely demand. Try and buy in any of the buildings under construction, by the time the cranes arrive most of the units are gone.
I knew there was push for living in Toronto but christ.... pre-sale numbers like that are un-heard of in the US
Condo starts do not happen in Toronto unless at least 80% of the units are presold. So there is absolutely demand. Try and buy in any of the buildings under construction, by the time the cranes arrive most of the units are gone.
This. It’s absolutely not 80%. And mind you, units sold still doesn’t mean people are living in them.
Exactly, I know at least 1/10 condos in Toronto are owned by non-Canadians and some downtown towers are completely owned by foreigners. Interestingly enough though, Toronto isn't like a Miami where you have a ton of empty units (metro Miami has a 17% vacancy rate, most of that is in Brickell). Even with the high % of foreign buyers in Toronto, the population downtown is expanding like crazy. In 2011, it was 200,000. It was estimated to be 250,000 in 2016 and they're estimating 475,000 people living downtown by 2041.
Exactly, I know at least 1/10 condos in Toronto are owned by non-Canadians and some downtown towers are completely owned by foreigners. Interestingly enough though, Toronto isn't like a Miami where you have a ton of empty units (metro Miami has a 17% vacancy rate, most of that is in Brickell). Even with the high % of foreign buyers in Toronto, the population downtown is expanding like crazy. In 2011, it was 200,000. It was estimated to be 250,000 in 2016 and they're estimating 475,000 people living downtown by 2041.
what is the geographic size of what's called "Downtown" because 250,000 seems like an crazy number considering Downtown Boston has about 10,000 residents.
what is the geographic size of what's called "Downtown" because 250,000 seems like an crazy number considering Downtown Boston has about 10,000 residents.
It's not a crazy number at all! downtown Toronto covers 17km^2. It did get redrawn but that's because it's growing that much, it's insane but amazing to witness as well.
It's not a crazy number at all! downtown Toronto covers 17km^2. It did get redrawn but that's because it's growing that much, it's insane but amazing to witness as well.
That isn't "downtown". No way is anything north of Bloor remotely "downtown". You have single family homes with generous lawns north of Bloor. They're not even urban neighborhoods really, they're streetcar suburbia.
Toronto has a large core, but not as large as Chicago, and certainly not including anything north of Bloor. Even Bloor is really pushing it. Most folks would consider downtown to be the financial district and the traditional Yonge/Dundas commercial district, not the University of Toronto, the Annex, and all the wealthy neighborhoods north of Bloor.
Last edited by JMT; 09-21-2019 at 08:09 PM..
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
