Comment 24780

By A Smith (anonymous) | Posted June 03, 2008 at 00:24:11

The King/Spadina development did not take off because of rules banning excessive noise, parking restrictions, or height restrictions. This area took off because there was/is a great demand for housing in Toronto. Many people in the GTA would love to live in Toronto, but they can't afford to.

When land that was previously off limits to residential development (due to government zoning restrictions) was brought to the market, developers jumped at the chance to fill the need for residences. It's as simple as supply and demand. People wanted to live in Toronto, and developers had newly available land in which to build.

Since open land is scarce in Toronto, the obvious conclusion is that developers must build up, and not out, therefore government regulation is redundant on this point. Any developer that would build a single story structure would not be maximizing his/her property investment.

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