Haymaker

Toronto has an annual population increase of 100,000 based on the 2001 to 2006 census results. This is approximately 33,000 new households needing homes per year. Building Downtown Toronto Condos with 100 square meter units, 10 to a floor, a building with 33 floors will provide for 330 households. Thus, 100 such buildings will cover the yearly population increase while covering only 100,000 square meters or 0.1 square kilometers. This is equal to 3.3 square kilometers when computed for suburbian land use with each building covering only 1,000 square meters.

Assuming US$150 million construction costs with a US$300 million sell price, Downtown Toronto Condos can yield US$150 million income for developers for a 1,000 square meter area. This can be similar to development costs and sales of suburbian houses. However, suburbian conversion uses 33,000 square meters for the same housing and earning potential. Thus, for the same the income footprint, Toronto Condos earn US$150,000 per square meter while suburbia earns US$4,500 per square meter. Thus, constructing condominiums in suburbian areas will use less land and earn more money for developers.