Signs of urbanization and new developments abound in Toronto – it’s the fourth largest city in North America and home to nearly 3 million. So what’s driving the demand for condo development and mixed-use projects? What does the future hold?
In advance of the Commercial Real Estate Conference 2015, Jon Love, managing partner with KingSett Capital, talked with NAIOP about what he sees for the future of Toronto’s urban core:
NAIOP: Why is the Toronto market so hot? What is driving it?
Love: Intensification has hit “escape velocity” and so Toronto is experiencing a virtuous cycle of more residents, job growth, greater retail, and heightened services and entertainment all feeding off themselves and one another. Started by the “Places to Grow” policies of the provincial government, we are starting to see positive outcomes expected from that plan.
NAIOP: What does the future hold for Toronto?
Love: Toronto’s continued success depends on its ability to focus on policies that can aid job growth and accelerate additional public transportation. With the right leadership, I am very optimistic for Toronto’s future.
NAIOP: Which asset classes do you prefer?
Love: In a city that is thriving, all assets classes can do well. Great performance comes down to the asset, strategy and operator.
Hear more from Love and a top panel of institutional and private investors discussing Urban Intensification and Mixed-Use Planning at the Commercial Real Estate Conference, October 13-15, in Toronto. See the conference website for details on who attends, hot sessions, and project tours.
Kathryn Hamilton, CAE, is Vice President for Marketing and Communications at NAIOP Corporate.