As a lifelong resident of the city, home has always been in midtown Toronto. In creating TorontoLivings, I wanted a place to share my experiences in the city, to educate our clients on the ever-changing market, and show people a side of the City that most don’t see every day.
Mark Savel exceeded my expectations of what I thought any realtor could or would do! For anybody buying condos in downtown Toronto, I recommend him. I will recommend him to friends and family, and if I ever buy another condo in downtown Toronto, I will try to hire him if he’s available. I will also hire him to sell my old condo, and I assume he’d be great for buying other types of housing and for outside the downtown core too.
Mark started helping me look in February 2026 and the final offer was made in May 2026. I was an atypical client with zero-time pressure on when to purchase, and with unusual priorities, e.g. very tight restrictions on locations, aiming for a building with low environmental impact, and broad aesthetic constrains. Mark learned my preferences, and very patiently showed me many units and asked many detailed questions on my behalf when I expressed interest. He advised on buildings to be avoided because of high maintenance fees, poor developer reputation for construction, and very poorly managed buildings. During site visits, he pointed out potential problems including potential structural and leak issues, poor space layout, and noise issues from the neighbourhood; and provided advice on the benefits of the unit and potential improvements that could be made to the unit. He demonstrated great knowledge of condos, condo management and condo equipment, and was always willing to try to ask the property manager when I had a detailed question he did not know the answer to. There were multiple weeks where I was surprised that he did not push me to make an offer; and indeed, recommended against some units. I slowly came to the realization that his priority is actually as he states – for his client to buy a home they will be happy with; not quick turnover of sales to make more money. I did not expect any realtor to do this.
For the unit I ended up purchasing, I left the negotiations to Mark to get me the best deal. His recommendation for my particular scenario was to make an offer I silently thought would be insulting low. It ended with a price far lower than I expected based on the comparators.
We’ve dealt with a lot of real estate agents over the years, and Mark Savel is truly leagues above the rest. He provided expert insight, extensive marketing, and was always available whenever we needed him. Mark worked tirelessly and diligently to get our property sold, and we would recommend him without any reservation. Many thanks Mark!
From the moment my wife and I met Mark, we immediately felt a warm and positive connection that continued throughout our entire experience. Mark took the time to understand our needs, preferences, and priorities. He was always available to arrange viewings around our schedules and consistently offered honest, professional advice about each property, its condition, and the surrounding area. We especially appreciated that he shared his expertise without ever pressuring or influencing our decisions. Mark was professional, knowledgeable, patient, and genuinely supportive throughout the entire process. We couldn’t have asked for a better realtor and would highly recommend him!
Mark was always incredibly responsive and made himself available whenever needed, He was approachable, supportive, and confident, which made it easy to communicate with him and feel comfortable reaching out whenever questions came up. I really appreciated his willingness to help and his positive, reassuring approach. Happy to work with him again in the future!
The World Cup crowds have cleared out of Exhibition Place, BMO Field is back to being BMO Field, and Toronto’s real estate market spent July doing what it does best: quietly tightening, month after month, without much fanfare 🙁
This latest monthly market update covers the sixth straight month of that trend, and while sales cooled slightly from June’s post-tournament rush, there was some welcomed excitement in condo world!
The Headline Numbers
Here’s how the year has unfolded so far:
Month
Sales
New Listings
Active Listings
Avg. Price
January
3,082
10,774
17,975
$973,289
February
3,868
10,705
19,314
$1,008,968
March
5,039
14,442
21,596
$1,017,796
April
5,946
17,097
25,110
$1,051,969
May
6,583
17,698
26,927
$1,069,700
June
6,770
17,282
27,329
$1,058,658
July
5,995
14,484
26,098
$1,003,956
Toronto and GTA realtors reported 5,995 sales in July, which was essentially flat compared to July 2025 (down just 0.9%), while new listings fell sharply, down 17.8% year-over-year. Month-over-month, sales eased 11.5% and new listings dropped 16.2%, which is a normal summer slowdown — but new listings pulled back even faster than sales did, and that’s the part worth paying attention to.
Prices: Getting Closer to Level
The average selling price came in at $1,003,956 in July, down 4.5% from a year ago. That’s a familiar gap by now, but the trend underneath it keeps improving: the MLS HPI Composite benchmark was down 4.6% year-over-year, a smaller decline than June’s 5.4%, and the smallest we’ve seen in months.
TRREB President Daniel Steinfeld put it plainly: with sales now making up a bigger share of listings, buyers have less room to negotiate than they did earlier this year, and prices could start to level off if that pattern holds. TRREB’s Chief Information Officer Jason Mercer added a more optimistic note: recent readings on economic growth and jobs have surprised to the upside, which could help nudge more buyers off the sidelines this fall, especially if prices finish stabilizing.
How Each Home Type Performed (City of Toronto)
In the City of Toronto, 2,242 homes sold in July — up 2.4% from 2,190 a year ago — at an average price of $1,010,836, down 3.3% from July 2025. New listings fell hard, down 17.2% year-over-year to 4,980.
By home type within the 416:
Home Type
July Sales (416)
Avg. Price (416)
Sales vs. July 2025
Detached
691
$1,547,928
+2.4%
Semi-Detached
233
$1,122,326
-7.5%
Townhouse
249
$867,635
+7.8%
Condo Apartment
1,054
$672,807
+2.5%
Condos deserve their own callout this month. At $672,807, July was the segment’s second-strongest average price of the year — trailing only May’s $673,841. And with 1,054 units sold, this marks the fourth consecutive month that Toronto condo sales have topped 1,000 (April: 1,054; May: 1,009; June: 1,124; July: 1,054). For a segment that spent most of the last two years as the market’s slowest mover, four straight months of sustained demand is trend we hope to see continue into the fall market.
Rates Hold Again — Six in a Row
The Bank of Canada held its policy rate at 2.25% on July 15 — the sixth consecutive hold. The Bank’s language struck a slightly more upbeat tone than earlier in the year: growth is picking up, and inflation is expected to ease gradually, though risks tied to the Middle East conflict and U.S. trade policy remain on the radar. The next scheduled announcement is September 2.
Year-to-Date Snapshot
Through the first seven months of 2026, GTA sales sit at 37,105 — up slightly from 36,891 over the same stretch in 2025. New listings remain the bigger story: down to 102,566 from 120,911, a drop of more than 15%. Average price for the year so far is $1,032,207, down 5.1% from 2025’s YTD figure.
My Take
Six straight rate holds, a shrinking price decline, and a condo segment that’s finally showing signs of life are all trends we’re glad to be seeing. New listings falling faster than sales is exactly the kind of setup that tends to firm up prices, and if the improving economic data Mercer pointed to keeps holding, don’t be surprised if the “leveling off” TRREB has been forecasting shows up before the year is out… provided no new curve balls are delivered from our neighbours in the south.
For buyers, the message hasn’t changed much: conditions are still workable, but they won’t stay this way indefinitely. For sellers — especially in the condo space — the data suggests confidence is warranted, however pricing remains the most important element to get right!
Toronto spent June with its eyes on BMO Field. Between Canada’s historic World Cup opener and five more matches at the stadium, it was hard to find a conversation that didn’t start with soccer. Turns out the real estate market had a pretty good month too… it just didn’t have to fight as hard for headlines.
We reported 6,770 home sales in June — up 9.4% from June 2025, and the third straight month of year-over-year gains. New listings, meanwhile, kept shrinking, down 12.9% compared to last year. Fewer new options, more buyers competing for them: that’s been the story since spring, and June just kept writing it.
The Headline Numbers
Here’s how the year has unfolded so far:
Month
Sales
New Listings
Active Listings
Avg. Price
January
3,082
10,774
17,975
$973,289
February
3,868
10,705
19,314
$1,008,968
March
5,039
14,442
21,596
$1,017,796
April
5,946
17,097
25,110
$1,051,969
May
6,583
17,698
26,927
$1,069,700
June
6,770
17,282
27,329
$1,058,658
Sales rose 2.8% over May, while new listings actually pulled back 2.3% month-over-month — the first monthly dip in new supply we’ve seen all spring. Active listings kept climbing, but only modestly (up 1.5%), which tells us absorption is finally starting to catch up with inventory.
Prices: The Decline Is Shrinking
The average selling price landed at $1,058,658 in June — still down 3.9% year-over-year, but that annual decline has been narrowing for a few months now. The broader MLS HPI Composite benchmark, which strips out the mix of what happened to sell, was down a steeper 5.4% year-over-year.
Month-over-month, the average price actually dipped slightly (-1.0%) — but on a seasonally adjusted basis, TRREB notes both the average price and the HPI Composite ticked up compared to May. Translation: the raw number moved one way, the underlying trend moved the other. That’s worth sitting with if you’re watching for a bottom.
How Each Home Type Performed
In the City of Toronto, 2,443 homes sold in June — up 6.1% from 2,303 a year ago — at an average price of $1,081,375, down 4.7% from June 2025. New listings fell sharply, down 13.6% year-over-year to 6,096.
Here’s how that broke down by home type within the 416:
Home Type
June Sales (416)
Avg. Price (416)
Sales vs. June 2025
Detached
792
$1,648,440
+0.4%
Semi-Detached
270
$1,264,782
-3.2%
Townhouse
237
$973,232
-0.4%
Condo Apartment
1,124
$665,760
+14.3%
Condos were the standout, with sales up over 14% year-over-year — a notable shift for a segment that’s been the city’s slowest mover for the better part of two years, even as condo prices kept easing (down 9.0% from last June). Detached sales held roughly flat, while semis and townhouses saw modest pullbacks in transaction volume.
The World Cup Effect: A Pause Near the Pitch
June wasn’t just a real estate story, it was a soccer one. Toronto hosted five FIFA World Cup 2026 group-stage matches at BMO Field (rebranded Toronto Stadium for the tournament), starting with Canada’s historic home opener on June 12, plus a Fan Festival running at Fort York and The Bentway through mid-July.
If you were house-hunting near Exhibition Place this month, you probably noticed. Road closures, transit crowding, and a steady wave of visiting fans made for a less-than-ideal showing schedule, and we saw it in the data — buyer activity around Fort York and Liberty Village noticeably cooled while the tournament was in town. Sellers in those pockets who’d normally expect brisk June traffic instead found a quieter month, with some showings pushed into July.
Is this a lasting shift or a temporary blip? Almost certainly the latter. Once the tournament wraps and the neighbourhood gets its sidewalks back, we’d expect pent-up interest in Fort York and Liberty Village to resurface — worth watching for anyone with a listing (or a search) in that pocket of the city.
Rates Hold Steady — What the BoC’s June Decision Means for Buyers
The Bank of Canada held its overnight rate at 2.25% on June 10 — its fifth consecutive hold. Governing Council pointed to a still-uncertain global backdrop, including energy-price volatility tied to the conflict in the Middle East, alongside a domestic economy that remains soft.
For anyone financing a purchase, that means continuity rather than surprise: no fresh relief on borrowing costs this month, but no tightening either. It’s a familiar pattern to anyone who’s followed our past coverage of rate-driven market swings — steady rates tend to bring steady (if unspectacular) buyer confidence, rather than the surges or pullbacks a sudden move can trigger.
Year-to-Date Snapshot
Through the first half of 2026, GTA sales sit at 31,149 — up modestly from 30,844 over the same stretch in 2025. New listings tell a bigger story: down to 88,065 from 103,288. That’s a meaningfully tighter market than this time last year, even with prices still negative on a year-over-year basis (average price down 5.3% YTD).
My Take
TRREB called 2026 a “year of two halves,” and June looks like the moment that prediction started paying off. Sales have now climbed year-over-year for three straight months, new listings are pulling back, and the rate of price decline keeps shrinking rather than growing. None of that is a boom — but it’s a market that’s clearly tightening, World Cup traffic jams aside.
If borrowing costs hold through the second half of the year as the Bank of Canada suggests they might, we could see prices stop falling and start leveling off before year-end. For buyers, that argues for moving sooner rather than later. For sellers who’ve been waiting for “the right time,” the data suggests it might be arriving.
Spring has brought some welcome momentum back to the Toronto Real Estate market, and after a slow start to the year, I’m seeing that show up clearly in the May numbers. Sales are accelerating, inventory is tightening relative to demand, and prices look like they’re starting to find a floor. Here’s my read on what happened this month and what it could mean if you’re thinking about buying or selling this summer.
The Headline Numbers
6,583 homes sold across the GTA in May — up 6.3% from the 6,195 we saw in May 2025. New listings, meanwhile, fell to 17,698, down 18.9% year-over-year. More buyers, fewer new options: that combination is really the whole story of this spring.
It’s also month three of a trend. Sales rose year-over-year in March, April, and May, after dipping in January and February.
Month
Sales
New Listings
Active Listings
Avg. Price
January
3,082
10,774
17,975
$973,289
February
3,868
10,705
19,314
$1,008,968
March
5,039
14,442
21,596
$1,017,796
April
5,946
17,097
25,110
$1,051,969
May
6,583
17,698
26,927
$1,069,700
Seasonally adjusted, sales were up 10% over April, while new listings dipped 2.1%!
Prices: Down Year-Over-Year, But Leveling Off
The average selling price hit $1,069,700 in May which was 4.6% below last year. The broader MLS HPI Composite benchmark, which smooths out the mix of what’s actually selling, was down a steeper 6.7% year-over-year.
Here’s the more interesting part, though: on a seasonally adjusted basis, prices actually ticked up slightly month-over-month, and the pace of the year-over-year decline has been easing for a while now. If sales keep strengthening the way they have been, it could indicate we’re closer to a floor than a further slide.
Zooming into the 416 specifically, detached homes led the charge:
Home Type
Sales (416, May 2026)
Avg. Price (416, May 2026)
YoY Sales
YoY Price
Detached
846
$1,610,988
+8.9%
-6.5%
Semi-Detached
283
$1,293,268
+2.5%
+0.6%
Townhouse
222
$953,982
-17.5%
-5.5%
Condo Apartment
1,009
$673,841
+4.2%
-5.0%
Detached and semi-detached sales grew nicely, while townhouses pulled back… but keep in mind, this is a smaller, more volatile segment where a handful of deals can swing the percentage. Condos, the city’s most crowded category, kept selling in decent volume even as prices softened. Not exactly a comeback tour for condo pricing, but the sales activity suggests demand may be coming back (but slooooowly)
Buyers Still Have Room to Negotiate — For Now
Average days on market landed at 42 in May, down from a January high of 67. That said, homes are still taking a few days longer to sell than they did in May 2025 — which tells me buyers heading into early summer still hold some leverage. Whether that window stays open through July and August is the real question to watch.
Year-to-Date Snapshot
Through the first five months of 2026, GTA sales sit at 24,405 — essentially flat against 24,653 over the same stretch last year. New listings are the bigger story: down to 70,768 from 83,441. Fewer new homes hitting the market, roughly steady demand, that’s the recipe behind the tightening we’ve been tracking all spring.
My Take
I think May reflects real, if fragile, improvement. Buyers came back, listings didn’t keep pace, and prices are behaving like a market finding its footing rather than one still falling. Ontario’s Bill 98 received Royal Assent in early June, aiming to speed up housing approvals and lower development costs province-wide — a trend to watch for anyone thinking about the next few years of supply, not just this summer’s showings.
Will the second half of the year keep this pace up? That depends a lot on interest rates, oil prices, and whether the “affordability improving” story can hold up if borrowing costs tick the wrong way. For now, though, the numbers are a promising sign after a rough start to the year.
Spring showed up right on schedule this year… and so, it turns out, did buyers!
According to TRREB’s April 2026 market report, realtors reported 5,946 home sales through the MLS System in April, up seven per cent compared to a year earlier. New listings, meanwhile, pulled back 9.3 per cent over the same stretch to 17,097. Put those two numbers side by side and the takeaway is clear: the market’s quietly tightening, even as prices continue to soften. Not the fireworks some were expecting this spring — but a trend worth paying attention to all the same.
MLS® HPI Composite: ‑6.6% year-over-year, but flat month-over-month
That last point matters. Prices are still down compared to a year ago, but they’ve stopped sliding on a monthly basis — which could indicate the market is finding its footing.
Tighter Conditions, Softer Prices
Active listings climbed to 25,110 in April, up over 16 per cent from March, and the average property took 43 days to sell — down from 47 the month before. So even with more homes to choose from, they’re moving a little faster. That’s the kind of push-pull that defines a market in transition: buyers still have plenty of choice, but the days of endless negotiating room might be numbered.
It’s a different picture than what we saw last fall, when the market was just beginning to stir. This spring, the stirring has turned into something closer to a steady walk.
The Rate Backdrop: Why the Bank of Canada Is Staying Put
Interest rates are, as always, part of this story. The Bank of Canada held its policy rate steady at 2.25 per cent at its April 29 announcement — the third hold of the year — as it weighs geopolitical uncertainty and rising energy prices against an otherwise steady economic picture. Inflation has been ticking up on gas prices specifically, and the Bank has signalled it’s watching closely rather than committing to a clear direction.
For anyone with a fixed-rate mortgage, remember that pricing tracks the bond market more than the BoC’s overnight rate — so “hold” doesn’t always mean “no change” on renewal. Compare that to the surge we tracked after 2024’s rate cuts, and it’s clear how sensitive this market remains to borrowing costs.
Not every segment moved the same way. Condo apartment sales in the City of Toronto jumped 14.4 per cent year-over-year — the strongest gain of any housing type — while detached sales rose a healthy 9.2 per cent across the GTA. It’s a notable shift for a condo market that’s had its share of headwinds over the past couple of years, and it’s a trend worth watching as spring rolls on.
What This Means If You’re Buying or Selling Right Now
For buyers: With active listings up sharply and rates on hold, you’re still working with some negotiating power — but that window may be narrowing as sales activity picks up. If you’ve been waiting on the sidelines, this could be the moment to start exploring your options.
For sellers: Pricing realistically is more important than ever with over 25,000 active listings competing for buyer attention. Homes that are priced to the current market — not last year’s market — are the ones moving in 43 days instead of sitting. If you’re weighing a listing this season, let’s talk about your strategy.
Looking Ahead
The Bank of Canada’s next rate decision lands June 10, and TRREB continues to push its “Removing Roadblocks” policy report aimed at cutting red tape on new housing supply. Will easing municipal barriers translate into more homes — and more affordability — by summer? That’s the question worth keeping an eye on.
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Toronto buyers didn’t need a calendar to know winter had overstayed its welcome. Between the snow, the slush, and two straight months of staying indoors, January and February were quiet for reasons that had nothing to do with mortgage rates or listing prices. Then March showed up — and so did the buyers.
The Headline: Sales Finally Turn a Corner
The Toronto Real Estate Board reported 5,039 home sales in March 2026, up 1.7% year-over-year — the first annual increase the region had seen since last September. Sales also climbed 30% month-over-month from February, which is a bigger jump than typical seasonality alone would explain. Clear roads and longer daylight hours don’t show up in a market report, but they clearly showed up in showing schedules.
TRREB President Daniel Steinfeld called it “encouraging,” noting that more GTA households appear ready to take advantage of improved affordability as the spring market gets underway. For a market that’s spent over a year in buyer’s-market territory, that’s a notable shift in tone.
What the Numbers Actually Show
Here’s March 2026 at a glance:
Sales: 5,039 (+1.7% YoY, +30.3% MoM)
New listings: 14,442 (-16.7% YoY, +34.9% MoM)
Active listings: 21,596 (-8% YoY, +11.8% MoM)
Average price: $1,017,796 (-6.7% YoY)
MLS® HPI Composite: down 7.4% YoY
Average days on market: 47
New listings are down sharply from last year, but sales grew faster than listings on a seasonally adjusted basis — a sign, per TRREB, that conditions are tightening even with prices still soft. In the City of Toronto specifically, 1,913 sales closed the month, up a modest 0.9% year-over-year.
That’s worth sitting with for a second: sales are up, prices are still down. As confusing as that may sound, it’s exactly what a market looks like when buyers still have the upper hand on negotiating, and are starting to use it.
Condos remained the highest-volume segment by sales count, but they’re also where price softness has been most persistent (a pattern that’s held for much of the past year). Detached homes, by contrast, continue to command a premium and have held their value more consistently. If you’ve been eyeing the condo market, this could be one of those “trend to watch” moments worth keeping an eye on through the spring.
Why Buyers Still Hold the Cards
Two things kept affordability front and centre in March. First, the Bank of Canada held its policy rate at 2.25% on March 18 — its second hold of the year — with inflation easing to 1.8% and the labour market still soft. That stability (for now) means borrowing costs aren’t adding new pressure on top of already-cautious buyers.
Second, buyers simply have more room to negotiate than they’ve had in years. TRREB’s Jason Mercer put it plainly: buyers continued to benefit from “substantial negotiating power” on price, which is exactly why average and benchmark prices are still down year-over-year even as sales pick up. If you’re a first-time buyer trying to figure out how far your down payment can stretch, tools like the FHSA are worth another look in this kind of market.
What’s Next — Spring Outlook
Not every forecast is popping champagne just yet. TD Economics recently trimmed its 2026 outlook, now expecting sales to dip slightly and prices to ease modestly nationally — a notable pullback from its earlier call for solid gains in both sales and price. That’s a fair reminder that one good month doesn’t undo a year of caution.
That said, March gave us something worth watching: sales growing faster than listings, buyers stepping off the sidelines, and the first real signs of seasonal momentum. If that trend holds through April and May, this could be the point where selling prices start to level off rather than keep sliding. Will it stick? Toronto’s spring market has surprised us before.
The proposal calls for two high-rise residential towers rising 35 and 37 storeys above a shared six-storey podium. With 886 residential units and a total gross floor area of 56,872 square metres, this marks another major addition to the evolving Marlee–Glencairn corridor.
Key Numbers at a Glance
35 & 37 storeys
6-storey shared podium
886 residential units
56,872 sq.m. total GFA
660 sq.m. non-residential GFA
Floor Space Index (FSI): 11.08
327 vehicle parking spaces
The Proposal in Detail
Building Height & Massing
The development is organized into two towers rising from a common six-storey base. This podium-and-tower typology has become increasingly common in transit-adjacent areas across Toronto, allowing for greater density while maintaining a defined streetwall condition at grade.
At 35 and 37 storeys, the towers would introduce additional height along Marlee Avenue, contributing to the growing vertical profile of the corridor.
Podium & Street-Level Uses
The shared six-storey podium will anchor the site and provide the transition between tower elements and the surrounding streetscape. Within the podium, approximately 660 square metres of non-residential gross floor area is proposed.
While final tenant details are not yet confirmed, this space is intended to support mixed-use activity at grade — aligning with broader planning objectives that encourage animated street edges and walkable neighbourhood design.
What Does an FSI of 11.08 Mean?
Floor Space Index (FSI) measures the total floor area of a building relative to the size of the lot. An FSI of 11.08 means the total proposed floor area is just over eleven times the area of the site itself.
In practical terms, that level of density is typically associated with sites located near higher-order transit and along designated growth corridors. As Toronto continues to direct development toward transit-accessible locations, projects of this scale are increasingly concentrated in these areas.
Transit & Policy Context
The site is located within walking distance of Glencairn Station on Line 1 (Yonge–University), placing it within a well-connected portion of the city’s rapid transit network.
City planning policy has long encouraged intensification near transit infrastructure. The City’s Tall Building Design Guidelines and Official Plan policies support higher density in areas with strong transit access, particularly along arterial roads like Marlee Avenue.
From a policy standpoint, the proposal reflects this broader shift toward transit-supportive growth patterns.
Taken together, these proposals indicate a clear pattern of intensification within walking distance of Glencairn Station and the Eglinton corridor. While each application is evaluated independently, the broader trend is notable: the corridor is gradually transitioning from low-rise and mid-rise forms to taller residential buildings.
Parking & Density Considerations
The proposal includes 327 vehicle parking spaces for 886 residential units.
That ratio reflects a transit-oriented approach to development, where proximity to rapid transit can reduce reliance on private vehicles. As policies continue to prioritize sustainable mobility, parking supply is often calibrated to transit access and projected demand rather than traditional suburban standards.
What Happens Next?
At the Site Plan Control stage, the City reviews detailed design elements such as:
Building massing and setbacks
Streetscape treatment
Servicing and access
Landscaping and public realm improvements
This process refines the technical and design aspects of the project before construction can proceed. Timelines vary depending on revisions, agency comments, and approval conditions.
Final Thoughts
The proposal for 245–251 Marlee Avenue represents another substantial addition to the Marlee–Glencairn growth corridor.
With two towers reaching 35 and 37 storeys, nearly 900 residential units, and a mixed-use podium, the scale of development reflects the area’s increasing alignment with transit-oriented intensification policies.
As always, we’ll continue monitoring the application as it moves through the planning process. If you’re buying, selling, or investing near Marlee Avenue, Glencairn Station, or the broader Eglinton West corridor, understanding how new supply may shape the neighbourhood is key. If you’d like to discuss what projects like this could mean for property values or future inventory, feel free to reach out by sending us a message below!