Toronto’s Skyline Is Witnessing A Condo Boom
Taking the cue from Manhattan, Toronto is on the way to urbanize its skyline with piles of ultra-luxe skyscrapers that will match the standards of any other cityscape in the world. Once known for its quaint European vibe, the vibrant city will soon boast of some plush residences and office facilities in the sky. This urban renaissance is in sync with Canada’s newfound lust for luxury. From cars to clothing to condos, Canadians have developed a taste for opulence. With the growing wealth in emerging economies and rising consumer expectations, consumers are getting obsessed with things that will exude luxury. And the picture is no different with the Canadians who have found an appreciation for the finer things in life and are now in the quest for luxury pads.
Over the years, Canada has been an immigrant hub. With the increased settlement of buyers immigrating and settling in Canada, the demand for luxury goods and services has spiked considerably in markets including Vancouver, Montreal, and Toronto. People now just don’t want four walls and a parking space. They are looking for comfort, style and luxury-a sweet combo for every dream home. And what better can it be that having an apartment amongst the clouds and enjoying Toronto’s skyline light up in the dusk over a sumptuous dinner?
Looking at the present under-construction Toronto skyline, one can easily fathom the impressive show waiting to unfold in a few years’ time. With 65 condo tower projects hitting the market, some among them boasting towers of 240-300 meters, the road to Manhattanization of Toronto’s skyline is pretty clear. These include a two-tower project christened Mirvish Gehry Condos by Toronto-born architect Frank Gehry and theatre impresario David Mirvish in the bustling Entertainment District of Toronto. At 92 floors and 305 meters, and 82 floors and 275 meters, these jagged King St. W. skyscrapers would adorn the Toronto skyline like a shining jewel. The recruitment of expensive, superstar architects like Gehry shows that high-quality design is necessary for successful condo sales.
After decades of slow growth in real estate, things have started looking up in Toronto and in a big fashion. With a range of different players finding creative ways to change the landscape of the vibrant city by ushering in a wave of luxury condos, it’s no surprise that in the coming days Toronto will stand out as a paradise for luxury living.