"Delphine Winton just recently moved into an apartment by Castle Loma built in 1936 and she's not looking back. During her hunt for a new space, the 22-year-old student was strictly looking for older buildings, choosing to stay away from the sliding glass doors, lack of "character" and odd floor plans she's seen in newer condos. God forbid you have enough room to put a dining table in, she told CBC Toronto."
"New purpose-built rental units are taking longer to lease because of increased competition from the secondary market, according to a July report from the Canada Mortgage and Housing Corporation (CMHC). Though CMHC data shows rent prices in older buildings are starting to catch up with new ones, affordability in tight, expensive markets deteriorated so much that many renters are settling for modest savings by choosing older stock," according to the CMHC report."
Delphine Winton moved into a 1936 Castle Loma apartment and deliberately sought older buildings to avoid sliding glass doors, lack of character and odd floor plans. Many Torontonians are choosing older stock to secure larger, more livable layouts, affordability and rent control protections. Nicole Luongo signed a lease in a nearly 100-year-old Little Portugal unit and found new purpose-built rentals sterile and claustrophobic. CMHC reports new purpose-built rental units are taking longer to lease due to increased competition from the secondary market. CMHC data shows rents in older buildings are rising and some renters accept modest savings by choosing older units. Samantha Dangubic stresses rent control as essential.
Read at www.cbc.ca
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