The city has more than doubled its stock of tall buildings, generally defined as buildings of 25 storeys or higher. There are twice as many under construction now as in New York.
And all this, declares the city’s manager of economic research Peter Viducis, officially makes Toronto skyscraper city.
"I've looked at the tall buildings that are under construction, completed between 2008 and 2012, and the buildings completed up to 2007," he says. "There are 40 buildings built before 2007, 27 completed in the last five years, and 25 currently under construction."
Viducis reported these findings as part of his regular “
economic dashboard” updates to the city. He also found that though the city's economy is growing less quickly than it was 10 years ago, it is still quite handily outstripping European growth rates.
"Ten years ago," he says, "the city accounted for 25 per cent of the housing starts in the GTA. We’re now up to 50 per cent.
"The exciting thing is that even young families with children are less inclined to move to the 905 than they once were."
Writer: Bert Archer
Source: Peter Viducis
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