[drew]

Well with any luck there should be around 60 new apartments entering the marketplace sometime next year... preliminary work is starting on plans to renovate the Penthouse block into upscale apartments.

Here is a question for this thread, how can rent control be such a hindrance to apartment construction, when after a new apartment is built, the owner is allowed to set the rental rates? It's only in subsequent years that the rent increases are controlled.

From what I have heard the major reason rentals are unpopular isn't so much the rental controls here, its the longer term return on investment.

People put up condos instead because they get their profit immediately.