Toronto condo projects sold since
2016 in danger of cancellation
A raft of condo project cancellations over the past 18 months has left thousands of pre-sale buyers in the Toronto area out in the cold. Now, a Globe and Mail analysis of dozens of projects where units have been on sale since 2016 has found that many are stalled and some in danger of collapse
These projects all shared similar traits:
Units were presold on or before 2016 (before condo prices began to rapidly rise in the GTA) and often lacked full planning approval. As the per-square-foot cost of construction kept rising, start dates kept getting pushed back.