How Toronto is Adopting the U.S. Approach to Purpose-Built Rentals
This shift marks a response to the declining demand for pre-construction condominiums. Foreign investors, who once played a pivotal role in driving the Greater Toronto Area’s (GTA) condo boom, are now stepping back, deterred by shrinking returns. Rather than abandoning these projects, developers are looking to cities like Manhattan for inspiration, where purpose-built rental housing designed for long-term tenants has long been a staple of the housing market.