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Toronto Condo Kings Retreating to Avert Crash: Mortgages

Toronto condo builders are slowing development in a bid to avoid a crash after a decade-long boom led to 159 towers now under construction.

So far this year, they’ve announced 13 new condominium projects, the fewest since the recession in 2009, when there were just three over the same period, figures from real estate researcher RealNet Canada Inc. show. In the same period last year, 29 new projects were announced, including Tridel Corp.’s Ten York, the third-tallest residential tower in the country at 75-stories when it was first marketed.