Savvy developers are already getting ready for the next condo boom
Financial Post · Garry Marr ·
Garry Marr: The changing marketplace has forced many to pivot
The brakes have been applied to condo sales, but that doesn’t mean developers are sitting on their hands, waiting for a recovery.
The changing marketplace has forced many to pivot, with some looking for alternate models and others abandoning the long-held belief that bigger is always better by scaling back developments already underway.
Ben Myers, president of Bullpen Consulting, said many of his clients have shelved plans to sell condos and are instead trying to rent those same units out, a change that can entail rethinking an entire project and often going back through the municipal approval process.
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