Toronto’s condo boom is not slowing down anytime soon as the latest statistics show the city is building more high-rises than anywhere else in North America.
The September 2011 data from German research company Emporis is included in a presentation to be discussed by the city’s economic development committee on Friday.
There are currently 132 high-rise buildings under construction in Toronto, according to the figures.
Mexico City ranks a distant second with 88 and New York City is in third with 86. The field drops off dramatically after that: Fourth-ranking Chicago is building 17 high-rises, while Miami rounds out the top five with 16.
Emporis defines a high-rise building as between 35 and 100 metres high, or 12 to 40 floors. Buildings taller than that are considered skyscrapers.
Toronto already has the second-highest number of completed high-rises and skyscrapers in North America, with 1,875, according to Emporis.
Provincial and municipal land-intensification policies, such as Ontario’s Greenbelt, have led to a shift away from low-rise development in the city, said Matthew Slutsky, founder and president of BuzzBuzzHome, which catalogues new residential projects in Canada.