With the city mostly built out, and more residents looking to live in the urban core, Toronto planners and developers are busy building the city upwards.
"In cities around the world, the terms may change â€" smart cities, New Urbanism, compact cities â€" but the idea is the same: turn strip malls, parking lots and one- or two-storey buildings into places where ever more people can live, work and play. Build upward, instead of outward. Cue the condominium."
That's the current trend in Toronto according to city planners. With little to none vacant land left, the city has embarked on a mission of intensification, hoping to capitalize on growth to enliven additional areas of the city.
And developers have answered the call for more density.
"According to the Greater Toronto Home Builders' Association, 2,397 highrise condos were sold this past June alone â€" about 44 per cent better than in that month the previous year, and an all-time sales high. It works out to one new highrise unit sold every four minutes in Toronto."
Read the full story: Toronto's growing sky high
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