Altus Group recently completed a study for BILD (Building Industry and Land Development Association) that looked at the various factors that might be contributing to housing affordability and supply issues here in the Greater Toronto Area. One area that they looked at was development approval timelines, and I thought these were two interesting charts:
What this is suggesting is that approval timelines don't seem to really vary based on project size. Whether you're rezoning for 3-50 homes or 400-500 homes, it's probably going to take you a similar amount of time. This in turn creates a strong incentivize to want to develop bigger projects. Among other things, it brings down the "number of days per unit" metric shown in this second chart.
I have spoken anecdotally before about minimum project size inflation, and here's some data to support why that is happening. But it really is too bad. We should be doing more to incentivize smaller infill projects. Our cities need development at all scales.
Today's post is going to be a self-serving one.
Some of you might remember that back in June I wrote about One Delisle being a finalist for four 2021 BILD Awards. One of them was the People's Choice Award, where I also mentioned that voting would open in August. Well, it is now August (yes, already) and voting is open. If you'd like to cast a vote, you can do that over here. (No login necessary.) There are some wonderful projects on this top 10 list. But in my entirely biased opinion, One Delisle is the project for you.
BILD just announced its finalists for the 2021 BILD Awards.
This is probably the most noteworthy awards program in the development industry here in the Greater Toronto Area. And so I am pretty excited to announce that One Delisle is a finalist for the following awards:
Project of the Year, Mid/High-Rise (Pinnacle Award)
People's Choice Award (Voting Opens August 2021)
Best Suite Design, Large -- West Penthouse Residence
Best Innovative Suite Design - Sky Collection Suite
The full list can be found over here (PDF). All of the finalists' work is also going to be posted on the BILD Awards website before the end of this week.
The actual winners will be announced this fall at the Awards Gala on October 7, 2021. I'm not sure if it has been decided yet whether it will be in person or online, but we all know that in person would be much better. Let's hope that will be the case.
Given the good news, our office decided that it was probably a good idea to make a few margaritas this evening:
Whatever the end result, we are thrilled to be a finalist.
We are also a past recipient of the "Best Innovative Suite Design" award, which was given to our House Collection of suites at Junction House. So I guess we like working our floor plans.
Congratulations to the full One Delisle team. This is well deserved.