By a ratio of two-to-one, Toronto is far outpacing NYC in terms of high-rises and skyscrapers currently under construction. As other Canadian cities follow suit, Jim Flaherty, Canada's Finance Minister, is taking measures to cool the market.
According to a new study by German data-provider, Emporis, Toronto leads the way in North American construction markets, far outpacing New York City in new tower construction. Though Toronto holds the number one spot, five other Canadian cities occupy spots in the top ten. "[T]he study shows that Montreal has more towers in construction than Chicago, and that Calgary is tied with Miami," reports Tara Perkins. Vancouver, Ottawa, and Richmond, B.C. also made the list.
Though Toronto's well-recognized "condo boom" has been responsible for much of that city's recent development, "[a] small but notable portion of Canada's strong showing comes from a new wave of office construction," says Perkins. So, what's prompting all this building in America's northern neighbor? Several studies point to a combination of higher rents and low vacancy rates in Canada's most populated city, Toronto, as well as in smaller urban areas, such as downtown Calgary.
Fearing the formation of a housing bubble, Canadian Finance Minister, Jim Flaherty, has "sought to cool the market by tightening up the country's mortgage insurance rules." He was primarily concerned "that low interest rates might have been spurring more construction than the market could absorb," writes Perkins. "Mr. Flaherty has sought to balance the need to bring house prices and mortgage debt under control with the need to keep the economy humming." As Toronto condo prices fall, and resale prices level out, so do Mr. Flaherty's fears, reports Perkins.
FULL STORY: Toronto leads North American high-rise construction

Trump Administration Could Effectively End Housing Voucher Program
Federal officials are eyeing major cuts to the Section 8 program that helps millions of low-income households pay rent.

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Canada vs. Kamala: Whose Liberal Housing Platform Comes Out on Top?
As Canada votes for a new Prime Minister, what can America learn from the leading liberal candidate of its neighbor to the north?

Washington State’s Parking Reform Law Could Unlock ‘Countless’ Acres for New Housing
A law that limits how much parking cities can require for residential amd commercial developments could lead to a construction boom.

Wildlife Rebounds After the Eaton Fire
Following the devastation of the Eaton Fire, the return of wildlife and the regrowth of native plants are offering powerful signs of resilience and renewal.

LA to Replace Inglewood Light Rail Project With Bus Shuttles
LA Metro says the change is in response to community engagement and that the new design will be ready before the 2028 Olympic Games.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Central Transportation Planning Staff/Boston Region MPO
Heyer Gruel & Associates PA
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Regional Transportation Commission of Southern Nevada
Toledo-Lucas County Plan Commissions