Quote:
Originally Posted by MTLskyline
On the positive side, I don't really think we overbuilt, but we met all of the demand in this boom cycle. I imagine that new high-rise condo projects should start launching again in a few years, after the boom cools down and demand recovers.
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Our condo construction boom seems to have given way to a student residences boom, which entails the closure and conversion of healthy downtown hotels instead of building new towers.
I know I keep saying it, but developers ought to start thinking seriously about building more highrise rental apartments in downtown.
The demand for downtown living is still there, just not everyone is ready or willing to down 300,000 on a 500 sq ft condo.
So, instead of building small condo units for bachelors, how about we start building bigger family-friendly rentals?