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Deadpool X
Senior Member
What's that grey building just south-east of The Hub and south of CIBC Square?
mburrrrr
Senior Member
The current Westin Convention Centre.
travis3000
Active Member
11 Bay, CC3, The Hub, and Union Centre are all fighting for the next office tower in Toronto. Whatever one is chosen will be the tallest office tower to be built in Canada in a generation.
TheTigerMaster
Superstar
In a generation!? Are you saying only one of these can be built?
The Preservationist
Active Member
I think Toronto in future strong economic times could again build multiple ~1.5 million square foot buildings in the core simultaneously, however given rising interest rates and high inflation I doubt we'll see another shovel in the ground anytime soon. I think we should be most satisfied with the 3 large high quality towers on Front and Bay Streets we are getting in this build cycle and the loss of 2 rather ugly parking lots to boot.In a generation!? Are you saying only one of these can be built?
UtakataNoAnnex
Senior Member
I think the shovels into the ground will likely slow down, even significantly. I don't think they'll stop though.
...and not all building booms correlate with the economy to my understanding, as ours seem to be driven by more peeps needing to live here than anything else.
condovo
Senior Member
^^^ Yeah but that applies more to the boom in residential construction. Office construction is tied more to economic trends like interest rates and inflation and so forth. I think new office towers won't be happening for a while. There's too much economic/geopolitical uncertainly for the foreseeable future, ie, 1 to 3 years.
gambinoo
New Member
UtakataNoAnnex
Senior Member
Fair enough. But they weren't really being built up with any great haste to begin with...I'm not sure we'll be missing much. And presuming no anchor client has been established with these to begin with. Nor houses sectors that gets rich off the economic downturns, lol.
Undead
Senior Member
Not really. Others will correct me if I'm wrong, but I believe our immigration/population growth rates are the same as they've always been. The residential boom is first and foremost caused by low interest rates
UtakataNoAnnex
Senior Member
Then feel free to give us a citation or two so we can take a look to see whether it needs correcting or not.
DirectionNorth
Active Member
Immigration rates have been increasing:
Per Wikipedia.
Nevertheless, higher interest rates are necessary for prices to decrease.
Northern Light
Superstar
Not to sidetrack the thread, but the immigration target and its recent lift are interesting.
I used a compound interest calculator to look at how this tracks out if we sustain the current rate.
We're growing our population (via immigration) by roughly 1.15% annually.
Apply that to 38.8M and in 60 years, the year 2082 our population would be 92.8M
At the dawn of the next century, 2100, it puts the population of Canada at just over 114M
I used a compound interest calculator to look at how this tracks out if we sustain the current rate.
We're growing our population (via immigration) by roughly 1.15% annually.
Apply that to 38.8M and in 60 years, the year 2082 our population would be 92.8M
At the dawn of the next century, 2100, it puts the population of Canada at just over 114M
allengeorge
Senior Member
Is this actual population growth? Because not all immigrants stay. And the last I read, intention to leave had climbed a fair bit because of higher prices (especially if you’re well-educated, the US offers more opportunities and the possibility of lower living costs - at least when you’re younger. It didn’t use to be this way.)