Quote:
Originally Posted by travis3000
But the question then becomes.... where will you build townhouses? The average new townhouse in Toronto goes for $800,000 to $1,000,000 or more. That's not affordable. The cost of the land is astronomical enough. Townhouses 1 hour north of Toronto in my hometown of Alliston (a small town of 15,000 people) are now approaching $300,000. So while I agree the idea of a townhouse might appeal to people over a condo, the fact remains ... a 70 storey condo can house 800 people... Try building 800 townhouses anywhere in Toronto? There's simply no room, and if there was... the price would be three times an average condo.
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There's plenty of space to build townhouses. IIRC, parking lots cover 12 percent of the city. There's thousands of singles, semis and, townhouses being built right now in the 416. My point relies on the market correcting itself and, no, I don't mean the recent slowdown in condo sales . Prices will drop. With that said, new infill townhouses bordering The Beach are significantly less than the $900,000 infill downtown is demanding. Those $900,000 downtown townhouses are also 2000 square feet. Try finding that in a new highrise.
the townhouses I'm talking about are dense infill. No yard. Maybe a small private patio with a roof top terrace being by far the biggest outdoor space. Parking is underground. The house is yours but the grounds and parking garage fall under a condo plan. There are always stacked units too for half the cost of a concrete highrise.