A challenging condo market has prompted Toronto Community Housing Corp. (TCHC) to shift its strategy for the Lawrence Heights revitalization project in North York. Faced with high interest rates, rising construction costs, and sluggish condo sales, TCHC will now lead the development of a 157-unit affordable rental building independently, instead of relying solely on private developers. This change comes as the project also faces an unexpected $832,000 bill from the city for planning application fees. This article delves into the details of this evolving project and its implications for affordable housing in the GTA. Read the full story on The Star: [https://www.thestar.com/real-estate/condo-crash-forces-torontos-public-landlord-to-move-ahead-on-huge-north-york-redevelopment-on/article_06564470-142e-4949-bd84-b7661c0d1d97.html]
Read the original story here: https://www.thestar.com/real-estate/condo-crash-forces-torontos-public-landlord-to-move-ahead-on-huge-north-york-redevelopment-on/article_06564470-142e-4949-bd84-b7661c0d1d97.html
