Architectural design and design services firms are flocking to the Toronto area, according to an article published on Monday.
The trend is driven by an anticipated boom in residential construction, a growing demand for residential buildings, and an increasing demand for offices and retail spaces.
The growth has also prompted an influx of developers who are seeking to turn a once sleepy downtown core into a bustling metropolis.
“Toronto is a big, urban, very dense city, and it’s been experiencing a real development boom in the last 10 years,” said David Laughlin, chief executive of the architectural firm Laughlin Associates.
“It’s very, very hard to get a good design that’s really not just for office and retail purposes but also for a residential use,” Laughlin said.
The industry is in need of more space and the downtown skyline is getting a lot bigger, he added.
“The more the density gets, the more space you’re going to have to accommodate, the bigger the spaces that you have to build,” Langle said.
Developers have been pouring into the downtown core in recent years to meet the growing demand.
They are working to turn what is once a sleepy downtown into a hub of activity.
Developers like Laughlin are building a building boom to meet a growing residential demand.
Laughlin is the owner of a new, high-rise building called the Crown, which is expected to open later this year in the heart of downtown.
“You’re going from a very sleepy, very residential city to a very urban city and an increasingly suburban city,” said Laughlin.
Developers are looking to build on the top floors of old buildings to make space for more offices.
A new tower in downtown Toronto is also scheduled to open in the fall.
The buildings in the area are being built by developers who have come to Toronto for an industry that is booming.
The Toronto real estate market is heating up as the city is expected get a lot more residential and office space in the next 10 years, Laughlin noted.
The condo market is also expected to boom, as developers are building more high-rises.
Lacey says there is room in the market for residential and commercial construction, but not enough to keep up with the demand.
“If you’re building on a residential street, and you’re looking to have a mix of apartments and commercial, you’re not going to see that demand for high-end retail and retail space,” Lacey said.
He says that demand is coming from developers who want to build more offices and apartments in the same space, which will drive up the price.
The new buildings also could lead to more congestion and more collisions between cars and trucks, Langle added.
Developers want to put their names on some of the top hotels in the city, which are a prime target for collisions with vehicles.
Langle says the new buildings will be located in a very desirable location.
It is in the centre of the city and the main business district of the area, and there are a lot of retail and residential properties along the waterfront.
“There’s a lot to like about this area,” he said.