[RJR123]

In today's Condo Living section of the Star they profiled a number of projects throughout the GTA as part of their Spring Preview section.
Admittedly, I only looked at the projects downtown, however it was concerning to see how many projects, which have been on the market for quite some time, seem to be stalled in the 40%-ish range of sales.
Knowing that financing will only be approved at a much higher sales threshold, and with a continuing onslaught of projects, I'm concerned that we could see a number of less high-profile projects (ex. Liberty Towers) cancelled or delayed.
Thoughts?

 

[buildup]

I'd like to see some lower profile projects cancelled or delayed because this could channel more sales to higher profile projects enabling them to be completed.

 

[RJR123]

I agree in the sense that I'd like to see lower profile projects such as Liberty Towers, with bland design, delayed or cancelled in favour of higher quality projects. However, projects such as CASA and Mode were cited in The Star today. These are lower profile but nice projects.

 

[AlvinofDiaspar]

Sales info from the Star is notoriously inaccurate. Mike in TO would be a good member on here to ask instead.

AoD

 

[Observer Walt]

It's my understanding that sales at CASA have been slow. Floor plans appear unexciting, suites are small, and a number of the units were somehow designed with almost no closet space.

 

[RJR123]

Your post prompted me to check our their site for the first time and you are absolutely right! It seemed like half of their units had no front hall closet, with only a closet in the bedroom. Not cool.

 

[beaconer]

Admittedly, I only looked at the projects downtown, however it was concerning to see how many projects, which have been on the market for quite some time, seem to be stalled in the 40%-ish range of sales.

I was thinking the same thing when I read the star article. I would have guessed at least some of these projects would be around the 50-60% mark.

I originally thought glascondominium would sell well (The Star article listed it at 40%, although point taken, this figure may be inaccurate).

But when I took a walk to visit the showroom, and saw how landlocked it will be with almost no views or light, combined with the screeching streetcar that turns there, I guess I can picture why sales may be slow there.

 

[fiendishlibrarian]

More than a year or so ago on this board we were worrying that projects like Hudson, Spire, etc. were stalled and weren't going to be built. Even One King West was once seen as a long shot. So these things take time.

 

[building babel]

Sales of houses aren't stalled. My next door neighbours told us at their dinner last night that they're moving - damn them. They'll list in a couple of days, and it'll be gone within a week.

Nice middle aged straight folks, moving to a condo in the gay village.

 

[Observer Walt]

^ Stats from the Toronto Real Estate Board indicate that resale activity continues at near-record levels.

New constuction may be slowing slightly, but these statistics bounce up and down month by month and are easily distorted short-term. You would have to see a trend over several months before drawing any conclusions.