It's not news to any one the fact that New Condo Towers and new Townhouses in Toronto are popping up a little bit everywhere.
According to an article published recently in the Globe & Mail, the next two years promise to reshape the look and feel of the Greater Toronto Area in ways probably not felt since the building boom of the 1970s. Then, we went out. This time, we are going up. Quiet suburban neighbourhoods are about to vibrate with new life. Old, once-neglected industrial areas in the city core are about to be transformed into mini-villages.
It's predicted that over the next two years (2010 and 2011) we will see about 47,000 new condo suites become available to their owners – 27,000 of them in 2010.
The next two years will not only see neighbourhoods such as downtown west, the Sheppard corridor, North York west and Mississauga city centre become heavily populated, but also experience an economic and business boom.
There is going to be an enormous surge of new life in many areas of the GTA. Residential drives retail, so that means the influx of all these people will spark a whole wave of new retail and service businesses in those areas. It will also be a boom time for moving companies, furniture stores, electronics and appliances stores – even dog-walking services.
The ethnic makeup of many neighbourhoods will also change since many of these condos were bought by new Canadians. So you are going to see much more diverse multicultural neighbourhoods created.
Significant new challenges
One is an ever bigger shift to singles and couples and away from families in new high-density neighbourhoods. Condo suites large enough to accommodate growing families are far too expensive for the average family budget – even if builders were building them.
Public Transit
The TTC's planning still lags far behind need. The [Toronto] Transit Commission is planning stops where there is no population, and its response to rising costs of operation is to raise fares. Every time it does that it loses riders
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