Toronto is growing up, up, up, with a very hot downtown condominium market, including a number of very small (500 sq. ft.) apartments for young professionals.
Suzanne Wintrob of the National Post reports on the boom:
"According to Urbanation, numbers cruncher to the development industry, 16,000 new condo units are expected to come to the Toronto CMA area this year (5,500 will be in the downtown core), down slightly from last year but still a healthy level. RealNet Canada reports that in the first 11 months of 2010, 36% of new condo units sold in the Greater Toronto Area were situated in the downtown core between Bloor Street and the waterfront."
One condo developer interviewed by Wintrob strays into dangerous territory with this comment: "You even have people with families looking at living in condos. Downtown remains one of the safest - if not the safest - place to live in the city, which makes this a very un-American kind of place."
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