I thought I would have some fun today, and share some of my dreams and predictions for the future of Toronto’s condo market.

1) THEMED AND NICHE PROJECTS

As more and more condos are developed, and more people choose the condo lifestyle, I predict that smart developers will realize the power of targeting a specific niche.
As an example, I could see a condo project for young families, where the amenities include a daycare, Chuck E Cheese style playground, and paediatrician.  The suites would come equipped with child-proofing and built-in baby monitors.
Another example would be a condo project for pet lovers, fully equipped with a pet spa, pet daycare, vet services, an off-lease park, and building features suitable for animal lovers.
What about a condo project designed for telecommuters and entrepreneurs who work from home?  The amenities could include business services like photocopier, receptionist, etc. and every suite has a bedroom and office space.
(What other themes could you think of?  What about health, fitness, technology, movie buffs?)

2) SOLAR

With the technology of solar energy improving exponentially, I envision a new form of window or cladding that soaked up the sun’s energy on a regular basis to power and heat the entire building.  No more hydro costs, and the excess energy could be sold to the grid to cover much of the other maintenance fees.

3) RESIDENTIAL/FARM HYBRIDS

This is where the concept of living ‘green’ increases exponentially.   Imagine a building with specific floors that have huge hydroponic farms so that residents could grow all their own vegetables.   Check out what these ‘Farmscrapers‘ are up to.  Think this is science fiction?  The idea of a vertical farm is already under construction in Milan.
(The main image above is a rendering of the Vertical Forest project in Milan.  © Stefano Boeri)

4) SPONSORED PROJECTS

This was an idea I had as a way to cover some of the huge costs in Toronto to build new subway stations.
What I would do is create a development package deal – subway station underneath, and then commercial/residential towers above.
Then you sell the naming rights to the entire complex.
For example – Apple Station, and the Apple Centre/Apple Condos above.
The commercial aspect becomes the headquarters for the corporate sponsor, and if the sponsor is a retailer, they can also build a flagship store at ground level.
Maintenance of the station becomes the responsibility of the sponsor.
Then, all tax income from the centre (land transfer taxes, property taxes, corporate taxes, section 37, etc.) generated by the new buildings go towards covering the development costs of the subway (like a royalty) until the costs are covered.
This way:

• Less money comes out of taxpayer pockets
• You create a direct connection from the subway station to the condos and office towers which is a huge benefit
• You create new jobs in the area from the commercial space
• You allow people who work in the commercial space to live in the residential making it super convenient
• You give the sponsor the opportunity to showcase their development, and in my opinion, a company will take much better care of the complex than the TTC
• Essentially, you’re not privatizing the TTC, but you are privatizing the individual stations

I don’t think anyone complains of going to the ‘Air Canada’ Centre to watch hockey, or ‘Four Seasons’ Centre to watch opera…so I doubt they’ll complain of going to Google subway station.
Stay tuned for more fun predictions!

ENJOY THIS ARTICLE?  PLEASE SUBSCRIBE TO OUR VIP BUYERS PROGRAM TODAY BY FILLING OUT THE FOLLOWING FORM:

[condoForm]