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Originally Posted by isaidso
In times of boom it's hard to imagine next to no activity, but that's how the real estate cycle typically goes. We could very well see a third to half the proposals on the table never built and a number of years till the industry starts ramping up again.
We hope that it doesn't come to pass, but the signs are everywhere. Usually it happens just when the really big projects get proposed only to find that the industry has now pushed the market beyond what it can support. One Yonge? Mirvish-Ghery? Holt Renfrew? Oxford Place? It's all looking very familiar.
I've lived through a few cycles and no one ever seems to think it's coming. But it does. I just hope we get 1-2 of those glamour projects built before it happens.
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Exactly. I'm sure most of us realize that between 1932 and 1966, only one building over 100 meters was built in Toronto. More recently, nothing over 150 meters was built in the 11 years between 1993 and 2003. In fact, the only buildings over 150 to be built during that time nation-wide were 1 in Vancouver and 2 in Calgary. I know that this boom is incredible, and Toronto has been made a completely different city because of it. However, it is foolish to believe it can or will continue in perpetuity. It's just like the oil sands, finite resources for finite demand.
Quote:
Originally Posted by Nouvellecosse
Personally I enjoy seeing a dramatic, distinguishing feature like Toronto's "volcano" pinnacle. As nice as they are, somehow "mature" and "well balanced" just don't seem to be very exciting characteristics.
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Totally agreed, it's not that any of the major towers are terrible (save for Trump) but having only one magnificent tower (Scotia Plaza) in a skyline that large just never cut it. However, this is changing with the appearance of new "break-the-mold" towers like L Tower. Which, while it is merely glass, it is beautiful, elegant, and expands the primary core a block or two east which is always good.