Towering Challenges in Toronto's Real Estate: Insights and Innovations

The Creative "Viz"

In this episode of the Creative Viz podcast, host Scott interviews Aun Qazilbash, a manager for pre-construction and design at Capital Developments, focusing on the bustling market of Toronto, Ontario, particularly in the realm of residential construction. Aun discusses various projects underway in downtown Toronto, highlighting the innovative technologies and approaches employed to overcome the challenges of building in dense urban environments. For instance, the 8 Elm project, a 69-story building near Dundas Square Eaton Center, showcases an automated parking system and a heritage retention initiative, illustrating the complex logistics and engineering feats involved in such developments.

Aun addresses the expertise required for constructing tall buildings in Toronto and emphasizes the importance of pre-construction planning, cost management, and logistical considerations to ensure project success. He also touches upon the market dynamics, including the demand for high-rise buildings, the premium associated with taller towers, and the careful balance required to meet market demands while contributing positively to community development.

The conversation also explores the challenges and opportunities in mixed-use developments, the impact of regulatory environments and interest rates on the housing market, and the strategic focus on downtown Toronto. Aun suggests that despite current challenges, there is a long-term demand for housing in Toronto, bolstered by population growth and immigration. He concludes by discussing government incentives for rental projects as a means to address affordability and housing supply issues.