It’s hard to miss the real estate boom that continues to characterize the housing market in Toronto and the GTA. And the trends are for continued growth this year. The Toronto Real Estate Board (TREB) is estimating 104,500 to 115,500 home sales this year and sales in the first three months are in line with that so far. Just this week, a Financial Post article commented on new construction hitting its highest levels in almost a decade.
It all makes for an exciting time for real estate developers. But, it’s also not without its challenges. In my view, inherent in the mindset of developers working in Toronto now – and indeed, those working in any major city that is experiencing rapid, extensive growth – is the question: how do I build for today and for tomorrow? In other words, we have to grow intelligently and consider not just what is good for Toronto and the GTA today, but what is good for the city and its residents twenty or thirty years from now. In many ways, that means looking ahead and truly envisioning how our city will look like and, more importantly, what we want our city to look like.
Sometimes that’s not the easiest of tasks.
Instances of buildings that were looked at less than favourably by future generations of city inhabitants certainly exist within the history of urban development. It’s also suggested that aesthetically displeasing buildings can impact one’s mental health.
There’s a psychology behind buildings and, at their best, buildings should reflect how people want to live and why. They should also be built with the simple consideration that city residents will be living among the buildings we construct for many years to come and that these buildings will make a significant impact on how they experience their own city.
For Mizrahi Developments, looking ahead and considering the long-term impact of the residences we build has been key to three of our most important fundamentals as builders: one, always being on the upswing when it comes to incorporating the latest green technology into our buildings; two, making sure that our residential buildings don’t just fit in or complement the neighborhoods we build in, but aesthetically add to these neighborhoods and visually enhance these neighborhoods; and three, offering truly customized upscale condominiums where condo owners can author the personal details of their new condominiums and enjoy their home for years to come.
The reality is that building booms like the one we’re currently experiencing in Toronto come and go. Responding takes more than just meeting the more immediate needs of buyers. It takes understanding the importance of building structures that honor our past and community’s traditions, while setting the standards for design for the future.