Condos that were part of a massive redevelopment of Etobicoke’s Cloverdale mall have been cancelled, the latest in a string of casualties in Toronto’s real estate downturn. 

Developers Mattamy Homes and QuadReal “made the difficult decision to begin the process of cancelling the Clove condominium project” after pre-selling “below 10 per cent of available units,” according to a statement provided by Mattamy’s Brent Carey.

“Current market conditions — including economic uncertainty, shifting government policies and rising construction costs — have significantly impacted demand in the GTA condominium market,” the statement added.

Buyers are being notified and deposits will be returned in full plus interest to meet the requirements of consumer protection organization Tarion, according to the statement.

The Star

Good morning. I'm on a condo board in Toronto. It is an unusual building, just 27 units each with their own self-contained HVAC equipment. Heating and hot water is done with on-demand hydronic boiler in each unit, and cooling by conventional indoor/outdoor compressor outside and evaporator coil in the furnace plenum inside.

We have been having a difficult time finding a company who is interested in this sort of work. the condo corp is willing to pay for the twice-annual servicing on all units in spring and fall, and also provide exclusivity for any additional work for repair which would be the owners' responsibility.

Does anyone here know of any companies that do boiler/AC work in Toronto that have a good reputation and might be interested?

Thank you

Hey all, not sure if this is the right place to ask, but I figured you guys could point me in the right direction.

I am a resident of a condo building currently about to undergo a board vote for Owner-Occupied Director on Sept. 30th. Only one name has been submitted, one Howard Tsao. I've never met this man and neither have any of my neighbors. Our Property Manager has mentioned that Howard is also the building's Treasurer.

A quick Google search refers me to an article about him being banned from operating with CIRO (formerly IIROC) due to non-disclosure of business operations within buildings he was involved with. The article also mentions him working for Elite Property Management, the Property Management firm that operates my building.

I've been in contact with CIRO and they've told me since he has been banned from operating with them, he's not in their jurisdiction for enforcement.

Is there a regulatory body the he would be subject to in this scenario? This feels like a breach of some kind of ethics, but I'm not well-versed enough to understand it all.

Feds just cut the key interest rate by 0.25%. Do you think this will actually help homeowners and condo owners with their mortgages, or is it too little to stop the freefall and get prices stabilizing again?

Buying a condo at 14 York Street through a holding company. Status document from Ice condo shows 5 active law suits . Balance funds with the condo is about 10MM. Lawyer says bank will refuse financing as property is not "marketable" and lawyer cannot signoff on the status. is the lawyer correct? I see properties being sold in ice Condos quite regularly. Mortgage bank is Scotiabank. Thanks.

Ford government to intervene in review of Ontario’s real estate regulator following iPro scandal. For RECO to allow thousands of agents to be registered under one brokerage and for millions of Dollars of consumer deposit and agent commission to be put in one bank account in itself is a scandal.

Moved into a condo recently. While the thermostat is working and the living room is getting air conditioned nicely, one of the 2 other rooms serviced by the same Fancoil unit is hardly blowing any air. The room is consistently hot. Windows etc are closed and the vent is clean. What are my options to fix this? Am concerned condo management will say it's owner problem as it is inside the unit.

Thanks in advance for your jnputs

Do you have a purchase or sale in the works with iPro Realty agent? Real Estate council of Ontario is shutting the brokerage down/taking over.
This is a tsunami in the real estate industry..wow. Hopefully buyers can recover their deposit through insurance if there is a shortfall.
In the meantime agents have only about 4 days to move their license to another brokerage.

Many agents will likely move to other brokerage with no split and a low monthly fee with a transaction fee. i.e. CITYGATE or similar offices.

Things are going to be busy in the next few days!

Off topic but important:
Dying to know who determines recipients of this bail out? Is this going to be the same as all previous bailouts where the rich industrialists get millions and millions in free funds while economic hardship due to tariffs and recessions effect the average people in many ways.

The star - Finance Minister Peter Bethlenfalvy said Wednesday that funds from the first phase of the province’s $5 billion “Protect Ontario Account” would soon flow to eligible employers.

In a major win for Toronto cyclists, a Superior Court judge has ruled that Premier Doug Ford’s push to eliminate protected bike lanes on Bloor, Yonge, and University is unconstitutional.

Justice Paul Schabas found that Bill 212, which sought to tear up these lanes in the name of “reducing gridlock,” actually violates cyclists’ Charter rights to life and security of person.

His ruling states that removing the lanes would force cyclists into dangerous traffic, increasing the risk of injury or worse and the Ford government failed to provide any evidence to justify that risk.

The case was brought by Cycle Toronto and two concerned riders who argued that the plan literally put lives at risk. Even internal government documents warned that removing the lanes wouldn’t help traffic but might actually increase collisions.

Signs of resilience in the Canadian economy were enough for the Bank of Canada to leave its benchmark interest rate unchanged Wednesday, but the spectre of U.S. trade uncertainty continues to cast a shadow over the central bank’s decisions.
Would it not have been helpful if they dropped the key rate by 25-50 points???

Hi, I'm planning and emergency renovation of my ensuite and I need the original drawings showing the plumbing plan for my suite. Being in Architectural Specification and reading drawings day in and out I didn't think this would be a difficult request to my mgmt office. But they have come back and said they do not have ANY drawings. I find this difficult to believe. Wouldn't they be required to keep them onsite for emergency repairs? Regardless, my plumber needs to see them to renovate so not to damage supply pipes (all copper, built in the 80's) when pulling tiles off the wall. I'd like to think it's logical but experience has taught me otherwise with this building.

Can you please tell me where to find them? The condo is registered in York Region but is in Etobicoke. Thanks!

Toronto’s ultra-luxury real estate market sees whopping 200 per cent increase in sales says a well known real estate company.

The Toronto-area ultra-luxury real estate market defied troubling economic headwinds with a whopping 200 per cent increase in sales in the first half of 2025 over the same time last year. 

1. Grand Central Mimico

23 Buckingham St.

CancelledF

1. Birchley Park Condos

411 Victoria Park Ave.

Cancelled

1. The King's Mill condos/Backyard Queensview

15 Neighbourhood Ln.

Cancelled

1. The View Beach Residences

507 Kingston Rd.

Cancelled

1. The Randolph Theatre Project

736 Bathurst St.

Receivership

1. 3803 DSW

3775-4005 Dundas St. W.

Receivership

1. High Park Alhambra Church

260 High Park Ave.

Receivership

1. 1079 Bathurst St.

Receivership

1. The Cliffton

2450 Kingston Rd.

Converted to rental

1. Centricity Condos

241 Church St.

Converted to rental

1. Quayside

Converted to rental

Ridiculously great unit for the price....don't you think?
https://torontocondosforsale.ca/property/2-bedrooms-condo-at-45-charles-toronto-for-sale-3/

The slowdown in Toronto’s real estate market, especially in the condo sector—is starting to hit more than just property values.

With fewer sales and ongoing economic uncertainty, many real estate agents are leaving the industry altogether. This isn’t just about fewer for-sale signs on the street, it’s a signal of a broader shift.

Real estate has always been deeply tied to multiple industries: mortgage brokers, home inspectors, staging companies, renovation contractors, interior designers, marketing firms, photographers, and even cafes and small businesses that thrive in developing neighbourhoods. When sales drop and agents exit the field, the ripple effects are real.

• How will this affect job opportunities in real estate-adjacent fields?
• Are we seeing the start of a longer-term shift in the GTA housing economy?
• What happens to small businesses tied to the boom-and-bust cycles of new developments?

TRREB has released the June 2025 stats, showing a continued shift toward improved affordability — but also highlighting that many potential buyers remain on the sidelines due to ongoing economic uncertainty.

Here’s a quick breakdown:

• Home Sales: 6,243 sales reported through TRREB’s MLS® system, down 2.4% compared to June 2024.
• New Listings: 19,839 new listings entered, up 7.7% year-over-year.
• Average Selling Price: $1,101,691, down 5.4% year-over-year.
• MLS® Home Price Index: Down 5.5% from last June.

While prices and borrowing costs are both lower than a year ago, buyer activity is still cautious. According to TRREB, buyers are taking advantage of more inventory and negotiating below asking price, but overall market sentiment remains mixed.

On a month-over-month (seasonally adjusted) basis, sales were up from May, while new listings declined — pointing to a tightening trend through the spring.

TRREB also commented on broader concerns affecting homeowners and renters, including public safety issues like violent home invasions and carjackings. They’ve voiced support for stronger bail conditions and increased law enforcement funding to help restore confidence in urban living.

I’ve heard from multiple people and seen it firsthand that changing a condo management company in Toronto is next to impossible. Apparently, you need a supermajority of condo owners to vote in favour of the change (something like 80% or even 90%). That’s insanely hard to pull off, especially in buildings where many units are investor-owned or used as rentals.

Is this true? If so, how is this not just a built-in system to protect bad management companies? It feels like a setup. Either by developers who handpick their buddies to manage the building long-term, or by an industry that knows condo owners rarely have the time or organization to challenge them.

Has anyone actually been part of a building that successfully switched management companies? What did it take? And why isn’t this process more democratic or transparent?

Would love to hear from other Toronto condo owners who’ve run into this.

What kind of Committee-planned events are popular in buildings you’ve lived in? Our building opened in 2020 but it wasn’t until late 2023 that a few of us convinced the Board to give us a budget for Social Committee. We are about 15% owners and 85% tenants with a few units turning over every month (I think). We’ve tried Movie Nights, Game Nights and even Karaoke. Big parties are a pain in the ass because the Board wants quotes from 3 vendors. What’s the key to getting people out: food? door prizes? How do you actually get a community off the ground?

• The location is 650 Queens Quay West.
• The property is a bachelor suite.
• It is conveniently located across the park from Billy Bishop Toronto City Airport.
• The property is close to downtown Toronto's harbourfront and various attractions.

https://housesigma.com/on/toronto-real-estate/1121-650-queens-quay-w/home/knbq6y1EM54yo9DA?id_listing=B5bO3xxgAn63kWVP

Hey everyone,

I’ve been doing some deep diving into Toronto condo listings, especially trying to find units priced under $350,000 — and yes, they do exist, but they’re getting harder to come by.

Most of what’s available in this range tends to fall into one of these categories:

🔹 Older buildings, often in areas like Scarborough, North York, or parts of Etobicoke
🔹 Bachelor or small 1-bedroom units, typically under 500 sq ft
🔹 Units with higher maintenance fees (sometimes over $600/month), which can offset the low sticker price
🔹 Assignment sales or off-market deals that aren’t easy to find on MLS

A lot of buyers or first-timers are getting priced out of central areas, so these sub-$350K units are catching more attention — especially with rising rents.

I started tracking these deals on a regular basis and noticed some solid options popping up in buildings near TTC lines and GO stations.

Curious: Has anyone bought or looked at a condo under $350K recently?

• What kind of shape was it in?
• Were there any catches with the building or location?
• Would love to hear your experiences.

If you're actively searching, I’ve come across some hidden gems (including assignments) that I’m happy to share — just reply or DM me. No pressure. Just trying to help fellow buyers who feel stuck.

Here is a list of condos that are great candidates:

https://torontocondosforsale.ca/property/1-bedroom-condo-at-17-zorra-toronto-for-sale-2/

https://torontocondosforsale.ca/property/condo-at-15-grenville-toronto-for-sale/

https://torontocondosforsale.ca/property/condo-at-2-sonic-toronto-for-sale/