Maybe it’s because I always wanted to live in a big city, but the amount of new towers being planned in London makes me happy.
In addition to all the previous projects announced and approved, we recently got word that the former Health Unit land near the old court house on the thames will be developed into two towers standing 53 stories and 43 stories. They’ll have 800 residential units and become the tallest towers in London. In fact they’ll be the tallest towers between Toronto and Calgary!
Not saying a lot as it’s mostly prairie land, but still…impressive!
The other approval was for two towers in the northwest near Hyde Park and Gainsborough roads. While originally proposed as 20 story buildings, the developer was required to take a few floors off of each and make them 17 stories instead. Still tall enough to change the landscape out there. This will bring 476 new units to one of the fastest growing segments of the city.
In the near term – over just the next 7 years, we are going to need 40,000 more skilled workers. According to the Smart Prosperity Institute, it is projected our population will grow by 50% over the next 30 years. 220,000 more Londoners. Stop for a moment and absorb that statistic. 8,000 new Londoners landed here, every year for the 5 years leading up to the pandemic. Even if growth slows to half that number going forward, our population will grow by 50% by mid century.
We are already in a long term housing shortage. Construction has not returned to pre-covid levels and the costs and interest rates to build are still hindering growth.
So, I say bring on the towers, let London grow into the city it should be- a vital hub between Toronto and Detroit. A city of trees, paths, parks and strategic building. Cities around the world have managed their growth without sacrificing the best parts of living and there’s no reason we can’t too.