In normal times this would likely have been taken over as an approved, pre-financed premium development opportunity by a financially stable competitor (e.g. One Bloor East).These are not normal times. Toronto downtown may turn out to be already massively overbuilt in underway and and proposed massive buildings - Google withdrawal? Mervish-Gehry, ever?).
Lake Ryerson, anyone?Agree. Even if our new daily infections go down to zero and stay there (unlikely) it will take a few years at the minimum for the economy to recover, consumer confidence to return, and the level of development to return to pre-COVID levels. This may end up being a hole in the ground for a long time.
I don't pretend to have my finger on the pulse of every developer that is active in the city, but for the number that I have talked to, none are significantly slowing their development pipeline.