While Toronto’s condo market grapples with a wave of project cancellations and receiverships, Canderel’s ‘Forêt Forest Hill’ project is bucking the trend. The developer has successfully pre-sold 75% of units in its first phase, securing critical construction financing when many others have failed. By shifting away from the ‘micro-unit’ investor model and focusing on functional, larger layouts—with an average size of 630 sq. ft.—Canderel has attracted a diverse buyer pool including downsizers and end-users. A key driver in their recent sales surge has been the provincial government’s expanded HST rebate, which can shave up to $130,000 off purchase prices. As the market remains volatile, this project highlights how transit-oriented, amenity-rich developments can still thrive by aligning with buyer needs. For a deeper look at how this developer navigated the current ‘condo crash’ and the impact of the HST incentive, read the full story at thestar.com.
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