Toronto to build its first condo inside already existing condo
TORONTO, ON—A developer of a massive condo announced today that downtown Toronto will be the site of an ambitious new building project: a condo that will contain a slightly smaller condo. Plans to re-break ground are expected as early as fall of 2017.
CEO of CONDOR Developments Ted Riche spoke this morning at the Planning and Zoning Conference, where he explained that his groundbreaking new development will likely be a solution to the ongoing problem of urban sprawl in the Greater Toronto Area.
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When asked about the technical specifications of the project, Riche said, "our newest development, 'Matryoshka', is unlike any the world has ever seen. We will construct fabulous living spaces for Toronto families and young professionals in the heart of this extraordinary city, within the very structures that currently make up the heart of this extraordinary city."
"Think about your favourite restaurant," he continued. "You know, the one that's actually a repurposed turn-of-the-century factory but that now sells you your favourite bok choy dish," said CONDOR's PR manager Coreen Cooper.
"It's just like that, except the factory's still open and still milling that cotton."
"This is the most revolutionary move a condo developer in Toronto has made since that time they tore down 'The Fantabulous' condo, which was built in the initial condo boom of the late 80s, and replaced it with a new building, aptly named 'The Fantabulous II', said Jeremy Bigby, Editor-in-Chief of The Daily Condo Monthly.
Critics are raising questions as to how construction might affect the residents who live in the building in which the slightly smaller condo will be built.
These concerns were quickly renounced by members of the building's Condo Owners Association, although most of them are foreign investors who have never physically seen the property.
When asked about the design of the building, Ember Chen, CONDOR's chief designer, mentioned that the building would be hyper-modern and eco-friendly. According to Chen, the major difference between it and the building that contains it is that "it will have one fewer floor."
Once construction on the new building is complete, CONDOR intends to announce a new plan to build a condo within that condo's condo.
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