
Balconies are a never ending debate here in Toronto (and in many other places). In some cities, like New York, they don't seem to matter for new housing. Residents seem to be generally content without them. But here in Toronto, we have typically included them in new high-rise housing and there has been a lot of debate and criticism around both their utility (high up in buildings) and their impact to overall energy performance.
I have noticed that we are starting to see fewer balconies on new buildings, and I suspect this might increase with the way that costs are right now. And for some people and some (sub)markets, this will be just fine. But I happen to be a huge fan of outside. As my tanned dad likes to say when asked about the value of outdoor spaces in multi-family housing, "you don't get this dark by staying inside." He is pretty tanned.
I also believe that great outdoor spaces are an important ingredient in shaking off the deep-rooted cultural biases that this city has toward low-rise housing. Since pretty much the beginning, low-rises houses with backyards have been seen as noble, whereas apartment buildings have been viewed as disease-breeding tenements liable to morally corrupt even the best of intentions.
This is one of the reasons why we created the two-storey House Collection of suites at Junction House and why One Delisle is almost entirely formed by its outdoor spaces (both balconies and terraces). We wanted to celebrate multi-family living.
At the same time, I really like this adaptive reuse proposal by Peter Song over at BDP Quadrangle. The idea is to allow people to infill their balconies with more interior space so that our existing stock of housing can become more flexible