Condo Projects Converted to Rental Apartments in Toronto

Kingsclub becomes second condo project in last few weeks to suddenly convert to rental apartments, leaving more than 100 pre-construction buyers out in the cold.
Urbancorp has quietly cancelled its Kingsclub condo complex on King St. W. and plans to build three towers of rental apartments instead.
It is the second downtown condo project in just the last few weeks to suddenly convert to rental apartments instead, leaving more than a hundred buyers of preconstruction units out in the cold.
The two back-to-back conversions are being seen as a sign that developers are growing fearful that condo interest is waning in Toronto, at the same time that rental demand shows no signs of letting up. 

Randy Ramadhin

Randy Ramadhin

CENTURY 21 People's Choice Realty Inc., Brokerage*
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