Toronto Going Condo Crazy or Just Plain Crazy
Young urbanites who want to own property have two choices. The first is to scour Toronto neighbourhoods for neglected houses that may prove to be financial albatrosses in need of repairs and renovations. The second choice is the condo. Or at least that’s what Toronto Life would have you believe.
February’s issue (not online yet) touts the rise of the Condo Generation, 20 and 30-somethings that have decided to buy condos as starter homes, choosing 700 sq feet several stories up to a roach infested, barely standing house. The editors also engage in a little real-estate boosterism about how Toronto’s condo boom can only go upward. (“Why the condo market is crashproof” touts the cover)
Torontoist is a little more guarded about condos. For one, we’re glad that people are choosing to live downtown instead of making the choice to fuel yet another subdivision development out in the 905 and add to the gridlock on the 400-series of highways. But we’re worried when condo developers choose to sell buildings that don’t take neighbourhood considerations into account; buildings that are too tall, severely impact traffic flows and change the very character of neighbourhoods themselves.
Dale Duncan, in the first of a series of articles on Toronto’s future in eye Weekly, writes about the careful dance between developers, the city and resident’s groups. Hopefully with the Ontario Municipal Board reined in a little and resident’s associations not lying down when developers come to their ‘hood (witness the seemingly one-sided fight between the ROM towers and the Annex Resident’s Association), Torontoist won’t just see lots of condos that tower over their new neighbours but buildings that’ll actually add to their areas and the city as a whole.