A stalled luxury condo project in Toronto’s Forest Hill neighborhood highlights the broader issue of delayed multi-residential developments contributing to the city’s housing shortage. Originally a single-family home, the property was demolished in 2017 for a four-story condo project that has since been inactive, leaving a concrete shell wrapped in building material. Challenges such as the pandemic, increased labor and material costs, and a downturn in the real estate market have affected developers, including Newpoint Developments, leading to delays and halted projects across the city.

Read the article on CBC News

Check out more news and blogs here