Toronto Loft Conversions

Toronto Loft Conversions

I know classic brick and beam lofts! From warehouses to factories to churches, Laurin will help you find your perfect new loft.

Modern Toronto Lofts

Modern Toronto Lofts

Not just converted lofts, I can help you find the latest cool and modern space. There are tons of new urban spaces across the city.

Unique Toronto Homes

Unique Toronto Homes

More than just lofts, I can also help you find that perfect house. From the latest architectural marvel to a piece of our Victorian past, the best and most creative spaces abound.

Condos in Toronto

Condos in Toronto

I started off selling mainly condos, helping first time buyers get a foothold in the Toronto real estate market. Now working with investors and helping empty nesters find that perfect luxury suite.

Toronto Real Estate

Toronto Real Estate

For all of your Toronto real estate needs, contact Laurin. I am dedicated to helping you find that perfect and unique new home to call your own.


Toronto labour shutdown could delay home possession, cripple condo industry

Susan Pigg – Toronto Star

[dropcap]C[/dropcap]ondo developers are bracing for a civic walkout or lockout they warn could cost the industry millions, halt construction and even delay the ability of buyers to take possession of their units.

Housing developers have been trying to fast-track requests for approvals and building permits over the last few weeks out of fear a civic shutdown could cripple the hottest condo market in North America, if not the world.

“The worse-case scenario is that a prolonged work stoppage could affect the momentum of the industry,” says Paul Golini, executive vice president of Empire Communities and chairman of the Building Industry and Land Development Assoc. (BILD).

“For us, time is money. It affects our bottom line. It affects consumers because it can delay projects. This is the unexpected event that you can’t plan for.”

With some 36,000 condos now under construction across Toronto and almost 128,000 in the planning stages, the stakes are high. They were pushed even higher Thursday when the city declared a stalemate in bargaining with one of its major unions.

Toronto Condos

The city has requested a “no board” declaration from the province. If granted, that would start the clock ticking on a possible work stoppage by Toronto’s outside workers with concerns in the building industry that inside workers will follow or be locked out. .

Those inside workers would include city building and planning staff who review and approve virtually every stage of condo — and house — construction in Toronto, from reviewing site plans, issuing building permits, inspecting construction sites as well as granting occupancy permits that assure buyers the project is safe for move-in.

That means not only would any new or proposed buildings be affected, but move-in dates could be delayed.

City staff even approve registrations that transfer ownership of units from the developer to the purchaser.

Calls from the Star to city officials for comment were not returned.

Delays would not only mean higher carrying costs for developers, but could jeopardize project timelines contingent on each phase of a project being completed by a specific date.

“We’re talking millions that is at risk here if a work stoppage goes on for any period of time — even moments,” says Steve Upton, vice president of development for condo giant Tridel.

Tridel, along with BILD and other developers, have been meeting with city officials and staff since last summer to stress the impact a work stoppage could have on the building industry.

There are also some concerns a strike or lockout could scare off investors who have looked to Canada as a safe haven and helped drive up demand for new highrises.

Condo construction is credited with almost single-handedly boosting Toronto’s tax base by about $7.5 billion in 2011 over 2010. Thursday the city tapped into about $8.8 million of extra tax revenue from the building boom to restore a host of city services — from library hours to indoor swimming pools — that had been slated for cuts.

While city managers would theoretically step in for staff, the industry is already trying to cope with staff shortages and high turnover — compounded by the sheer volume of new condo projects — that has been slowing the ability to get approvals in a reasonable time, industry insiders say.

Just reviewing the complex plans requires a special level of expertise largely unique to building and planning staff, builders warn.

Contact Laurin Jeffrey for more information – 416-388-1960

Laurin Jeffrey is a Toronto Realtor with Century 21 Regal Realty. He did not
write these articles, he just reproduces them here for people who are
interested in Toronto real estate. He does not work for any builders.


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