Bigger condos look to lure families
Three-bedroom units could make living downtown more affordable
Though they are often thought of as homes for singles and couples, there is a growing movement to make condos large enough to accommodate larger families that include children.
"If you're coming to build in this neighbourhood what I'd like you to do is build us a range of housing," Wong-Tam told CBC News. "Three-bedroom apartments is one of those options."
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Larger units are more expensive for developers and don’t sell as well as one- and two-bedroom units. But larger condos could make it easier for families to buy a home downtown.
A detached house in the downtown core starts at just under $1 million, according to the Toronto Real Estate Board.
Veteran condo developer Brad Lamb is in favour of the larger units, and even of the pressure from the city.
"Developers won't do these things on their own," he said. "So it's the right thing to do for the city to force us to do it."
- A previous version of this article mistakenly attributed an average price on downtown condos to the Toronto Real Estate Board. The price cited was, in fact, the average cost for a unit at one particular condo development.Oct 07, 2014 6:44 PM ET
From a report by the CBC's Marivel Taruc