Tag Archives: industrial construction
Royson James – Toronto Star
We are all guilty of it, some more than others. Running down our city, that is.
A columnist who makes the mistake of citing some of Toronto’s positive virtues is bound to get a reader response pointing to a deficiency. It’s a natural reflex, yes, though one that seems to find succor in expansive numbers across the region.
“Maybe we are like Woody Allen’s movie persona — too neurotically self-critical,” says David Naylor, president of the University of Toronto.
In a speech last month to the Toronto Board of Trade, calling on Torontonians to “get over ourselves” and start celebrating the “remarkable municipalities that together make up the Toronto metropolitan region,” Naylor terms this self-deprecation as “chronic hypochondriasis,” a fixation on illness.
It doesn’t help when your political leaders — the ones who, by definition, are expected to be the biggest boosters — turn out to be the biggest busters of a city’s pride.
For more than a year, Torontonians have been bombarded with messages that the city is a fiscal basket case. Waste is everywhere. Taxes are evil — and too high. And it’s essential to take the axe to social, community, cultural and artistic services as they may be “nice to haves.” Haven’t you heard what’s happening in Greece?
Our economic indicators suggest this is gross fear-mongering. The latest report, out now, shows a positive outlook in every indicator for the City of Toronto proper. For example:
• The seasonally adjusted unemployment rate fell to 8.8% in March (above the rest of Canada, but trending downward). Some 27,000 more people are employed in the city than a year ago.
• Toronto continues to lead all North American cities or city regions in the number of high-rise construction projects (185), more than Mexico City (88) and New York (85) combined. And they are not just condos. Donald Trump officially opened his luxury hotel Monday; commercial activity is up; industrial construction is strong; and institutional buildings continue to rise.
• The city’s value of building permits was $720 million in February, galloping ahead of last year, and higher than the combined numbers across the 905 region.
• Office vacancy rates have been trending downwards for two years and now stands at 5.5%, even as a number of large downtown office buildings open up.
• If you’ve heard that new immigrants are bypassing Toronto for better prospects out west, look at the numbers again. Almost four in 10 choose the GTA, one in five coming to the 416 area.
Comment: Over 100,000 people move to Toronto from other countries, every year. There is a reason they come here.
• And a huge number of people find city life attractive. About 45% of all housing starts in the Toronto region are in the city proper.
• Google is opening its Canadian headquarters on Richmond St. W. Coca-Cola Canada’s new HQ is coming to King St. E. And everywhere you look, the potential here is great.
Speaking to the board of trade, Naylor listed the city’s virtues. Spreading it across the entire metropolitan region, he reminded his listeners that Toronto is top ranked in Canada for entrepreneurship, the health sector, food and beverage sector, manufacturing, financial services, information and communication technologies, the culture and creative sector, legal services, cultural diversity, share of top-100 startups in Canada, innovation and the like.
Comment: Aren’t we the centre of the app development world?
Internationally, Toronto is ranked lowest in risk for employers, second in opportunity and as “smart city on the planet;” third for quality of life; fourth for innovation, livability, rates of entrepreneurship and as a “city of the future;” sixth in business competitiveness, 10th as a finance centre; and way down the ladder (59th) as an expensive city.
“Put simply, we are good at everything because we are good at everything,” said Naylor.
Contact the Jeffrey Team for more information – 416−388−1960
Laurin & Natalie Jeffrey are Toronto Realtors with Century 21 Regal Realty.
They did not write these articles, they just reproduce them here for people
who are interested in Toronto real estate. They do not work for any builders.