Municipal governments are starting to put green standards in place for developers and builders to follow to help protect the planet. But will it really work?
Shopify Inc. has announced that it will be opening its latest 3.2-hectare mixed-use development in Toronto’s downtown area by 2022.
The expansion will come together with the e-commerce firm’s upsizing of its workforce in the city, doubling it to 1,500 within three years.
“Shopify has been present in Toronto for seven years and what we’ve found is this is a great place to build a really wonderful tech company,” Shopify director of user experience Amy Thibodeau told BNN Bloomberg.
Thibodeau added that Shopify is not backing out from the heated competition among companies in Toronto, especially tech firms vying for the attention of skilled industry professionals.
“We’re not a satellite office ... and that makes Shopify unique and compelling in this city,” she said. “And I think more competition is good for Toronto.”
The development will be situated in the King and Portland Centre. At present, Shopify has around 700 employees spread across two locations and seven offices in Toronto, Ottawa, Montreal, and Waterloo. The company has a total of around 4,000 employees worldwide.
Warehouses, retail locations, and other similar commercial installations remain the investment assets of choice in Toronto’s commercial property market, according to a Q1 2019 analysis by Avison Young.
Industrial property saw $817 million in sales during the first quarter alone, impelled by steadily growing rents and a long-running imbalance between supply and demand. This accounted for a massive 30% of the GTA commercial market’s total volume during that time frame.
The survey shows that buying a home in a major city centre has risen 5% since last year.
The more time and money a developer spends navigating the extensive labyrinth of procedural processes, the costlier it becomes to build a new home.The more time and money a developer spends navigating the extensive labyrinth of procedural processes, the costlier it becomes to build a new home.
Coming to Toronto May 14-15 is an in-person event discussing multifamily investing and the benefits it can have for new and experienced investors.
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Many Torontonians and GTA investors perceive Windsor in a different light. But the reality is, it's a growing city that has much to offer investors, homebuyers, students, immigrants, and retirees alike.
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