08-23-2024, 06:59 PM
No developer is going to risk putting in commercial space that is likely to sit vacant for half a decade. There's simply no demand anymore to risk it. Many of the projects I've been involved in this year in Toronto, Vancouver, Calgary etc have significantly reduced the amount of planned commercial space, with two outright getting rid of all of it. And that's in real Canadian cities. The demand locally has been shot, unfortunately.