Strange take for Toronto where houses are being torn down and rebuilt as larger houses or high rises everywhere
So when a multifamily project is approved on a lit, developpers are thrilled to put a high rise - there's so much pent up demand they know it'll sell out.
On the other end, the ultra rich want bigger mcmansions.
What's still lacking is sane 2-8 unit zoning.
Mining mining was behind large law and accounting firms, underpinning the professional service layers, and driving the demand for high end mansions, out of town el ranchos, tax write off hobby projects for spouses etc.
On a pie chart for cash flow I'm guessing minerals and energy are still the big tickets there?
In terms of economics, I'm not an expert. It looks like much of the local economy is based on reselling the same houses to each other at ever increasing prices.
I don't know that I'm always a fan of heritage designations, but they're not exactly a surprise to a buyer, right?
that's not a thing, you would 100% know when buying that a building was listed
https://www.bbc.co.uk/news/uk-england-stoke-staffordshire-68...
This is from direct experience in Canada working in this industry.
This is an area with powerful neighbours who have a lot of time on their hands.
I actually think there's a strong case for preserving this property. I love the look. The architecture is very unusual for Toronto and it looks striking. But, it is always a bummer when you purchase a property with plans to do X, and then get a surprise designation after you pay the money.
[1] https://www.toronto.ca/legdocs/mmis/2018/cc/bgrd/backgroundf...
With little exception, there is a heck of a lot of construction in Canada. Canada has among the highest construction per capita in the world.
> With little exception, there is a heck of a lot of construction in Canada. Canada has among the highest construction per capita in the world.
Construction of what and where and what does highest mean? If we're talking residential, we're mostly talking about McMansion style new suburbs where there wasn't anything to complain except nesting waterfowl. Vancouver is only barely an exception, and I'm sure others do exist, but it's hardly characteristic of the nation