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Nov 2, 2025

The market for three-bedroom apartments isn't what you think

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The market for three-bedroom apartments isn't what you think

Erica Alini of The Globe and Mail just published this article called, "The era of the shoebox condo is over." You should read it, and not just because I'm quoted in it. One thing that I appreciate about the article is that it gets into some of the development economics underlying new projects. The high-level math provided by Bryn Davidson of Lanefab (Vancouver) once again shows that land is the residual claimant in a pro forma and that the price developers can feasibly pay needs to be greater...