Developers target suburbs as condo demand in downtown Toronto falters amid pandemic

The condos and office towers in the city of Mississauga are seen in the distance with the town of Milton, Ont. in the foreground on Oct. 15, 2019.

Fred Lum/the Globe and Mail

Toronto suburbs are experiencing a boom in condo project launches and preconstruction sales, as the pandemic’s work-from-home trend entices homebuyers to look outside the city.

Suburban condo projects accounted for 65 per cent of all launches in the Toronto region in the third quarter of this year, according to the latest data from industry research group Urbanation Inc.

This is not the first time suburban condo development has surpassed the city’s but marks the widest margin on record. As well, sales of preconstruction condos more than doubled in the suburbs compared with the third quarter of last year, while sales dropped 16 per cent in the city of Toronto over the same time period.

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Portland condos for sale: Owners motivated to make a deal on elevated properties

The small number of Portland homes for sale and historically low mortgage rates have owners of well-priced, single-family houses receiving quick offers while sales of turnkey condominiums with concierge services and killer views have stalled due to the coronavirus pandemic, say real estate agents.

Low condo sales, which had been lagging before stay-at-home orders were issued in late March, have owners motivated to make a deal, says Sean Z. Becker of Portland-based Sean Z Becker Real Estate.

The uncertainty of the coronavirus and “headlines of civil unrest” have some home shoppers steering clear of dense urban housing, says Becker, who has been selling real estate for 16 years.

Although the fundamentals of living in a condominium in the city are the same – single-level living and the simplicity of a second home in a nice climate or near grandchildren – buyers in a COVID-19-vulnerable age group, over 65, are not

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Owners motivated to make a deal on elevated properties

The small number of Portland homes for sale and historically low mortgage rates have owners of well-priced, single-family houses receiving quick offers while sales of turnkey condominiums with concierge services and killer views have stalled due to the coronavirus pandemic, say real estate agents.

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Low condo sales, which had been lagging before stay-at-home orders were issued in late March, have owners motivated to make a deal, says Sean Z. Becker of Portland-based Sean Z Becker Real Estate.

The uncertainty of the coronavirus and “headlines of civil unrest” have some home shoppers steering clear of dense urban housing, says Becker, who has been selling real estate for 16 years.

Although the fundamentals of living in a condominium in the city are the same – single-level living and the simplicity of a second home in a nice climate or near grandchildren – buyers in a COVID-19-vulnerable age group, over 65,

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ON THE SCENE: What’s for sale in NY’s middle market

Brian Whelan and Alexandra Curtin of B6 Real Estate Advisors have been retained to sell 5089-5099 Broadway, a development assemblage with more than 188 ft. of frontage in Inwood (pictured top). Located on the southwest corner of Broadway and West 218th Street, the property is composed of two adjacent lots totally 12,375 s/f. The assemblage is situated in R7D/C2-4 zoning, allowing for a potential development of almost 70,000 s/f in residential and commercial space. Asking price is $10,500,000 ($152 psf).

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Compass announced the following exclusive assignments:
Adelaide Polsinelli and Jamie Schoenfeld have been hired to market the commercial condominium at 317 East 50th Street, a luxury pre-war, condo-op between Sutton Place and Turtle Bay. Situated between First and Second Avenues, the property is the former home of the First Reformed Episcopal Church. It been completely transformed and the ground floor and basement are are occupied by the Children’s

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Aventura Office Condo Owners Allege Construction Defects

20200 West Dixie Highway, Miami with Harry Dornbusch and Dr. Joshua Lampert (Google Maps)

20200 West Dixie Highway, Miami with Harry Dornbusch and Dr. Joshua Lampert (Google Maps)

The association for a 12-story office condo tower near Aventura accuses developer H&M Development of shoddy construction.

The Beacon Tower of Aventura Commercial Condominium Association is suing the developer of the building at 20200 West Dixie Highway in Miami-Dade Circuit Court, according to documents filed last week.

The association includes president Dr. Joshua Lampert, a plastic surgeon who runs his business in the tower; vice president Freddy Boulton; and treasurer Joaquim Cavalgnac, according to records. The tower, built in 2016, houses eight 141-square-foot office retail units, according to the lawsuit.

The condo association does not cite an exact dollar amount that it is seeking, but repairs made so far total more than $100,000, according to the lawsuit.

The defendant, Beacon Tower of Aventura, is managed by H&M, which is based at the Beacon Tower, and is

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Canada Housing Squeeze: Buyers Moving up ‘Handcuffed’ by Hard-To-Sell Condos | Top News

By Nichola Saminather and Julie Gordon

TORONTO/OTTAWA (Reuters) – Eager to move his young family into a house with a backyard amid the pandemic, Dale-Paul Jordan listed his Toronto condo for sale last month and prepared to start bidding on detached homes.

But the condo didn’t sell or get a single viewing. And when another seller in the building slashed their asking price, Jordan and his wife pulled the unit off the market and decided to delay their dream until spring at least.

“One of the things we’re handcuffed to is selling our condo to help with the downpayment,” Jordan said.

The couple are among a growing cohort of would-be buyers in Canada keen to move up the property ladder, but are trapped by a flood of condos in the Toronto and Vancouver markets. The situation is only expected to worsen with a near-record number of new condos under construction.

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Canada housing squeeze: Buyers moving up ‘handcuffed’ by hard-to-sell condos

TORONTO/OTTAWA, Nov 17 (Reuters) – Eager to move his young family into a house with a backyard amid the pandemic, Dale-Paul Jordan listed his Toronto condo for sale last month and prepared to start bidding on detached homes.

But the condo didn’t sell or get a single viewing. And when another seller in the building slashed their asking price, Jordan and his wife pulled the unit off the market and decided to delay their dream until spring at least.

“One of the things we’re handcuffed to is selling our condo to help with the downpayment,” Jordan said.

The couple are among a growing cohort of would-be buyers in Canada keen to move up the property ladder, but are trapped by a flood of condos in the Toronto and Vancouver markets. The situation is only expected to worsen with a near-record number of new condos under

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West Village condo of the late Alan Rickman lists for $1.7M

Photo credit: Compass

Late British actor Alan Rickman, known for, among countless other roles, playing  Severus Snape in the Harry Potter series, lived primarily in England, but he had a great affinity for New York City. When he performed on Broadway (he was nominated for a Tony Award for his role in Noel Coward’s Private Lives) he resided in his pied-à-terre in the West Village. After his passing in 2016, his estate has now listed the one-bedroom condo at 321 West 13th Street for $1,695,000. According to brokerage Compass, Rickman had “impeccable taste and a keen sense of design,” which is shown in the gut renovation he undertook after purchasing the top-floor apartment for $995,000 in 2009.

Rickman worked with local firm Lembo Design on the renovation. The living space has a bit of an industrial vibe with exposed beam ceilings, whitewashed brick walls, and five oversized, south-facing windows.

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Why are there so many condos for sale in the DC market?

The coronavirus pandemic’s effect on housing markets across the country has caused a shift to more buyers seeking single-family homes further away from city centers, with a similar trend in the D.C. metro’s housing market.

The coronavirus pandemic’s effect on housing markets across the country has caused a shift to more buyers seeking single-family homes farther away from city centers, with a similar, though less pronounced, trend in the D.C. metro’s housing market.

That might be partially responsible for the increase in the number of condominiums and co-ops for sale in the D.C. area.

Bright MLS reports new listings of condos and co-ops in the D.C. metro in October were up 49.2% from a year ago, a 10-year high for the second month straight.

“There is a segment of the population that has been affected by what we’re calling the pandemic effect,” Chris Finnegan, chief marketing and communications officer for

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Hazel Park is the newest spot for chic condos near Detroit

 A deep-pocketed homebuilder with deep roots in Oakland County — Bloomfield Hills-based Robertson Homes — has been filling the soaring demand for starter homes near Detroit with big projects in Ferndale and Royal Oak.



a large brick building with grass in front of a house: This artist's rendering shows the style of three-story, two-bedroom condominiums planned for a complex of 54 units in Hazel Park, to be priced in the low $200,000s and to each have a one-car attached garage. It's to be Hazel Park's largest housing development in decades. (Credit: Robertson Homes)


© Robertson Homes
This artist’s rendering shows the style of three-story, two-bedroom condominiums planned for a complex of 54 units in Hazel Park, to be priced in the low $200,000s and to each have a one-car attached garage. It’s to be Hazel Park’s largest housing development in decades. (Credit: Robertson Homes)

Now it plans to build in Hazel Park. 

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Robertson Homes on Saturday opened an office trailer for home sales on a site along Woodward Heights, just east of John R, in Hazel Park where the firm plans to build 54 three-story townhouses. The developer reported it signed up five buyers on Saturday, nearly 10% of the available units.

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