Condos, long considered a reliable solution for urban housing density, face a harsh reality. Financing is drying up, buyers are hesitant, and appraisals no longer match the price tags. “That’s causing a bit of a tailspin,” Giavedoni says.
This shift, he says, is driving changes in land use planning, municipal law, and expropriation as governments attempt to respond to the housing crisis. Developers now must rethink how they approach, appeal, and budget for large-scale residential projects.
On the commercial side, Giavedoni says that data centres have emerged as a hot topic, but Canada is lagging behind the US. He says Alberta holds promise, but infrastructure gaps remain a significant hurdle.
“You can find a giant field and decide to put up a data centre there – but you also have to connect the dots,” he says.
As Canadian investors look beyond the US and international investors look more closely at Canada, Giavedoni says the country must focus on making itself an attractive destination for investment.