A reader recently suggested that I do a post explaining why we aren’t seeing more midrise buildings going up in Toronto. Specifically, why are midrise buildings considered to be “too risky” for developers and what could be done to improve the situation? So today I’d like to focus on that topic.
But first, let me say that I think Toronto is already in the midst of its midrise development era. The push for intensification first brought about towers, but we’ve come to realize that the tower isn’t necessarily going to serve everybody’s needs.
Here’s what John Bentley Mays recently wrote in the Globe and Mail regarding midrise developments:
With Duke, SQ, Nest and similar structures, we may be seeing the start of a promising design trend in Toronto’s multifamily housing market.
And given that our Chief Planner, Jennifer Keesmaat, has been a vocal supporter of midrise, I think there’s no question that we’ll only see more and more of this type of development. Nonetheless, there are challenges. Here are a few that come to mind.