NEWS

Bigger condos look to lure families

10/07/2014 05:27 EDT | Updated 12/07/2014 05:59 EST
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. 

Larger condo units have been a big issue for Toronto city councillor Kristyn Wong-Tam, whose ward includes new condo construction projects near Bay Street and Wellesley Avenue. 

"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."

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. 

The average price of a condo in the downtown core is $640,000 according to the Toronto Real Estate Board, compared to just under $1 million for a detached house.

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."

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