Developers Pulling Back As Governments Demand More Housing
In this week's episode, we delve into the very challenging landscape faced by developers across major Canadian cities, a slowing national economy, more job losses and slowing GDP all the while we see some of the highest rental rates on record. We start with the gripping tale of a Toronto-based developer embroiled in a receivership debacle, owing creditors a staggering $200 million, putting their ambitious Mimico project in jeopardy. The ambitious plan promised to transform the Mimico Triangle...