Quote:
Originally Posted by fenwick16
There is a question as to whether a large residential tower would decrease real estate prices. In the Toronto area the highest real estate prices tend to be close to the downtown core where there are many highrise buildings. Why should a highrise decrease real estate values? It will bring more people to that neighbourhood. It would only decrease values if it is a very low quality tower. For example, I don't think that the Trillium will decrease real estate values in its neighbourhood.
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Good point... alot of people in Halifax don't understand this.
I lived in Toronto and couldn't even afford rent in alot of the high rises that were in primarily low rise neighborhoods.
The units in a building like this will likely be so expensive it will bring money into the neighorhood, and not the other way around.
Look at the Trillium... whoever buys the penthouse will likely be the richest person in that area.