Brandon Donnelly
Daily insights for city builders. Published since 2013 by Toronto-based real estate developer Brandon Donnelly.
Brandon Donnelly
Daily insights for city builders. Published since 2013 by Toronto-based real estate developer Brandon Donnelly.
I recently watched a few episodes of L'Agence on Netflix. I don't watch much TV, but it is somewhat shocking that I haven't gotten more into this show before. It's about beautiful real estate and all things French, which are unapologetically two of my favourite things.
Another great feature of the show is that everyone seems to be in their late 30s and shopping for a €6,000,000 apartment with a rooftop terrace and views of the Eiffel Tower. It's a great way to start questioning all of your life decisions.
In fairness, the buyers are varied, but I do find it interesting that there are some recurring purchase criteria. Many of them want something "central." Many of them have kids and have no hesitation about raising them in an apartment. And many of them have a non-negotiable desire to be able to walk out their door to amenities without having to drive.
All of this really resonates with me, but it obviously isn't true for everyone or for all geographies. "Luxury," which is the focus of this show, means different things to different people. What are your criteria?
Cover photo by Alexander Kagan on Unsplash

The City of Toronto just released its 2025 Cycling Year in Review report. You can download it here. At the highest level, Toronto is now considered to be the 7th most bike-friendly city in North America, according to the Copenhagenize Index. Our snowier sibling, Montréal, is number one on the continent. And globally, we're ranked 55th.
Neither of these positions is particularly impressive given our scale and prominence as a global city, but progress is being made. In 2025, City Council approved 33 km of new bikeways, installed 14.11 km, and upgraded 9.02 km. Our infrastructure continues to get better.
What I find particularly noteworthy and telling, though, is the adoption of the city's bike share network. 2025 was another record year, with 7.8 million rides, representing a 13% increase from 2024. We're still not at the level of Montréal, which recorded 13 million rides in 2024, but adoption is growing quickly.
We have gone from around 665,000 rides in 2015 to nearly 8 million in the span of a decade. That's a compounded annual growth rate of approximately 28%! Once again, we are reminded that if you build it, and make it easy and safe, more people will ride bicycles.

In addition to the recently proposed HST rebate for new homes, the federal government and the province of Ontario announced that they will be providing funding to help municipalities reduce their development charges by up to 50% over the next three years. And according to some estimates, these two measures will temporarily cut the cost of building a new home in Ontario by something in the range of 15-20%.
From what I have seen, most, if not all, of these savings are now going to the consumer. As Mike Moffatt points out in this recent Globe and Mail article, developers are passing them along because of competition, because they need to compete with lower-priced resale homes, and because, frankly, it's the only way to try and unstick this market.
What is not so clear, though, is whether this is enough. Moffatt argues that "now that new homes can be sold at prices that make them viable to build, more homes will be built, adding further downward pressure on resale prices." This is certainly one of the policy goals — to get more developers building again. But I don't think we're there quite yet. I guess we'll find out soon enough.
I recently watched a few episodes of L'Agence on Netflix. I don't watch much TV, but it is somewhat shocking that I haven't gotten more into this show before. It's about beautiful real estate and all things French, which are unapologetically two of my favourite things.
Another great feature of the show is that everyone seems to be in their late 30s and shopping for a €6,000,000 apartment with a rooftop terrace and views of the Eiffel Tower. It's a great way to start questioning all of your life decisions.
In fairness, the buyers are varied, but I do find it interesting that there are some recurring purchase criteria. Many of them want something "central." Many of them have kids and have no hesitation about raising them in an apartment. And many of them have a non-negotiable desire to be able to walk out their door to amenities without having to drive.
All of this really resonates with me, but it obviously isn't true for everyone or for all geographies. "Luxury," which is the focus of this show, means different things to different people. What are your criteria?
Cover photo by Alexander Kagan on Unsplash

The City of Toronto just released its 2025 Cycling Year in Review report. You can download it here. At the highest level, Toronto is now considered to be the 7th most bike-friendly city in North America, according to the Copenhagenize Index. Our snowier sibling, Montréal, is number one on the continent. And globally, we're ranked 55th.
Neither of these positions is particularly impressive given our scale and prominence as a global city, but progress is being made. In 2025, City Council approved 33 km of new bikeways, installed 14.11 km, and upgraded 9.02 km. Our infrastructure continues to get better.
What I find particularly noteworthy and telling, though, is the adoption of the city's bike share network. 2025 was another record year, with 7.8 million rides, representing a 13% increase from 2024. We're still not at the level of Montréal, which recorded 13 million rides in 2024, but adoption is growing quickly.
We have gone from around 665,000 rides in 2015 to nearly 8 million in the span of a decade. That's a compounded annual growth rate of approximately 28%! Once again, we are reminded that if you build it, and make it easy and safe, more people will ride bicycles.

In addition to the recently proposed HST rebate for new homes, the federal government and the province of Ontario announced that they will be providing funding to help municipalities reduce their development charges by up to 50% over the next three years. And according to some estimates, these two measures will temporarily cut the cost of building a new home in Ontario by something in the range of 15-20%.
From what I have seen, most, if not all, of these savings are now going to the consumer. As Mike Moffatt points out in this recent Globe and Mail article, developers are passing them along because of competition, because they need to compete with lower-priced resale homes, and because, frankly, it's the only way to try and unstick this market.
What is not so clear, though, is whether this is enough. Moffatt argues that "now that new homes can be sold at prices that make them viable to build, more homes will be built, adding further downward pressure on resale prices." This is certainly one of the policy goals — to get more developers building again. But I don't think we're there quite yet. I guess we'll find out soon enough.
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