Posts Tagged ‘Launch’

What a year 2009 has been for the Toronto Condo Market! Back in the early part ’08 I remember getting invited to a new condo launch several times a month. Every time I checked the BlackBerry it was a different developer announcing a different launch… that was until the ‘World Wide Recession’ kicked in!

The broker lunch invites ceased, the glossy packages of beautiful condo renderings stopped and my cell phone usage also started to slow down. With the weak sales numbers in the resale market, no developer wanted to risk launching during the uncertain times. So for the last half of 2008 and the first half of 2009 hardly any new projects where released. It almost became the year of the “Relaunch” as most developers worked to clear old inventory and get ground broken on their projects.

530 St. Clair was about to be the first developer to launch a new product, but held off citing a redesign of units to better suit the market. Fly Condos also had their sales event, with many small sized units being released at low prices that matched. Camrost-Felcorp made a bold move in June. They erected a huge sign on the highway advertising prices for their California Condo starting at $149,900! This wasn’t their first launch, but like many others, the re-launch was necessary to move more units.

September of 2009 is when activity in the pre construction market really started to pick up. 530 St. Clair , 2 Gladstone, Reve, x2,Ice 2, U Condos 2, and finally River City (to name a few) all made their launch towards the last quarter of the year!

So what’s in store for 2010? If you’re in the market for a preconstruction condo, you’ll want to check back throughout the week, as I take a look at what’s in store for the New Year!