This is an interesting story about a Toronto couple who got married about 20 years ago, initially lived in a small downtown condo, and then decided it was "time to adult" and move to the suburbs. They bought a 3,200 square foot home in Markham and lived there for a number of years. It had a lawn, a garage, and all sorts of other suburban comforts. But eventually they realized that they had made a mistake. They preferred the conveniences of city living over the amenities of the suburbs. Living in the city was simply better suited to their lifestyles. And so they sold their house, bought an epic 2,100 square foot penthouse in the Shangri-La Residences -- which just so happens to be one of my favorite buildings in the city -- and hired the design firm NIVEK REMAS to completely redo it. I think their new home turned out great and maybe you do too.

Last Friday the Financial Post published an interesting article talking about Mattamy Homes and the new office that its founder, Peter Gilgan, is in the process of opening up downtown in the Toronto-Dominion Centre (which just so happens to be my favorite office complex in the city).

At 64 years old, Peter recognizes that his company has changed and the world has changed. He he himself recently moved downtown and now he’s bringing his company with him.

“Our Oakville office [a western suburb of Toronto] is a reflection of what our business was 25 years ago,” he says. “We were a local, west-end Toronto builder. Now we’re the largest home builder in Canada and we’re the largest private home builder in all of North America.”

Come September he will move his finance, legal, IT, human resources and strategic marketing team —  about 100 of Mattamy’s 1,100 staff — into the new downtown digs. He wants to attract “the absolute best talent.”

“The young people seem to really want to work down here. So that’s one reason. The other thing is to make sure the business has the capital to move forward and expand. Well, where’s the capital? It ain’t in Oakville.”

This of course isn’t a new thing for suburban homebuilders. Many in Toronto have made the switch – or at least expanded – from suburban houses to downtown/urban condos. And I’m assuming that’s what is going to happen here.

Still, it’s fascinating to see this trend continue. Young people really do want to live and work “down here.”

Yesterday a colleague at the office sent around this Globe and Mail article talking about a Vancouver family of 4 (plus one cat) who live in a 1,000 square foot loft near downtown that they purchased in 2003 for $269,900. There weren’t really any photos of the place, but the article makes it sound like they have 3 beds crammed into one room. (I wonder how the parents ever manage to have sex. There are better ways to lay out 1,000 sf.)

In any event, the point of the article is that there’s a growing number of families who are clinging to the downtown lifestyle that they’ve grown accustomed to and are refusing to follow the path of a conventional suburban house – regardless of how tight their current quarters might be. It’s happening in Toronto (here’s an article from the Toronto Star and here’s a post I wrote) and it’s happening in New York:

A recent New York Times article on a similar trend noted that the number of white professionals with one or more children living in one-bedroom condo units in that city had jumped by almost a third between 2000 to 2006. Prof. Andrew Beveridge, from Queens College of the City University of New York, said the pattern was showing up in other expensive American cities. In Toronto, the 2011 National Household Survey showed there are about 72,000 families living in 71,500 units in buildings with five or more storeys – undoubtedly many of them the new, tiny condos proliferating there.

To some this might sound crazy. I mean, why would a dual income family–such as the one in Vancouver–subject themselves to a smaller space when they could easily afford a bigger place somewhere else? Isn’t that the dream – to have a big house?

The answer is that these families are considering–in addition to the direct costs of a bigger place–both the indirect costs of living further away from the core (such as longer commute times) and the inevitable lifestyle changes that would happen should they move out from their downtown neighborhoods. The urban lifestyle is different.

But what I find interesting about this phenomenon is that if this trend continues (and I think it will), we’re going to have a new generation of people in North America who grew up in apartments, condos, and lofts, and don’t have the same biases around single family houses and suburban living. To them, an apartment will be a perfectly normal place to raise a family.

This is an interesting story about a Toronto couple who got married about 20 years ago, initially lived in a small downtown condo, and then decided it was "time to adult" and move to the suburbs. They bought a 3,200 square foot home in Markham and lived there for a number of years. It had a lawn, a garage, and all sorts of other suburban comforts. But eventually they realized that they had made a mistake. They preferred the conveniences of city living over the amenities of the suburbs. Living in the city was simply better suited to their lifestyles. And so they sold their house, bought an epic 2,100 square foot penthouse in the Shangri-La Residences -- which just so happens to be one of my favorite buildings in the city -- and hired the design firm NIVEK REMAS to completely redo it. I think their new home turned out great and maybe you do too.

Last Friday the Financial Post published an interesting article talking about Mattamy Homes and the new office that its founder, Peter Gilgan, is in the process of opening up downtown in the Toronto-Dominion Centre (which just so happens to be my favorite office complex in the city).

At 64 years old, Peter recognizes that his company has changed and the world has changed. He he himself recently moved downtown and now he’s bringing his company with him.

“Our Oakville office [a western suburb of Toronto] is a reflection of what our business was 25 years ago,” he says. “We were a local, west-end Toronto builder. Now we’re the largest home builder in Canada and we’re the largest private home builder in all of North America.”

Come September he will move his finance, legal, IT, human resources and strategic marketing team —  about 100 of Mattamy’s 1,100 staff — into the new downtown digs. He wants to attract “the absolute best talent.”

“The young people seem to really want to work down here. So that’s one reason. The other thing is to make sure the business has the capital to move forward and expand. Well, where’s the capital? It ain’t in Oakville.”

This of course isn’t a new thing for suburban homebuilders. Many in Toronto have made the switch – or at least expanded – from suburban houses to downtown/urban condos. And I’m assuming that’s what is going to happen here.

Still, it’s fascinating to see this trend continue. Young people really do want to live and work “down here.”

Yesterday a colleague at the office sent around this Globe and Mail article talking about a Vancouver family of 4 (plus one cat) who live in a 1,000 square foot loft near downtown that they purchased in 2003 for $269,900. There weren’t really any photos of the place, but the article makes it sound like they have 3 beds crammed into one room. (I wonder how the parents ever manage to have sex. There are better ways to lay out 1,000 sf.)

In any event, the point of the article is that there’s a growing number of families who are clinging to the downtown lifestyle that they’ve grown accustomed to and are refusing to follow the path of a conventional suburban house – regardless of how tight their current quarters might be. It’s happening in Toronto (here’s an article from the Toronto Star and here’s a post I wrote) and it’s happening in New York:

A recent New York Times article on a similar trend noted that the number of white professionals with one or more children living in one-bedroom condo units in that city had jumped by almost a third between 2000 to 2006. Prof. Andrew Beveridge, from Queens College of the City University of New York, said the pattern was showing up in other expensive American cities. In Toronto, the 2011 National Household Survey showed there are about 72,000 families living in 71,500 units in buildings with five or more storeys – undoubtedly many of them the new, tiny condos proliferating there.

To some this might sound crazy. I mean, why would a dual income family–such as the one in Vancouver–subject themselves to a smaller space when they could easily afford a bigger place somewhere else? Isn’t that the dream – to have a big house?

The answer is that these families are considering–in addition to the direct costs of a bigger place–both the indirect costs of living further away from the core (such as longer commute times) and the inevitable lifestyle changes that would happen should they move out from their downtown neighborhoods. The urban lifestyle is different.

But what I find interesting about this phenomenon is that if this trend continues (and I think it will), we’re going to have a new generation of people in North America who grew up in apartments, condos, and lofts, and don’t have the same biases around single family houses and suburban living. To them, an apartment will be a perfectly normal place to raise a family.