I definitely think that the green belt has played a roll in sustaining property values.

@JShamess You're right that the green belt increases the value of remaining development land in the Toronto core. Though there is still quite a bit in my opinion. The return of purpose built rental coming back is nice to see as well. It's only in the last year or so that purpose-built made sense again financially. I think what's driving that purpose built rentals is the younger generation of people not just wanting to, but needing to, live downtown to work and maintain a high quality of life.

Greenbelt, Oakridges Moraine, and The Places to Grow Act are all contributing to the densification of urban centres, and major highrise growth in the city core.

Great to see that it is all working, just not sure why the media has been playing it as a crazy bubble, opposed to congratulating the government on achieving their goals.

@Matthew Slutsky they have to fill the papers with something!

Matt I definitely agree with you, it's been the work of the government that has really help nuture and define the urban core. Although Jamie, I agree with you if you think smaller redevelopment sites or small infill (there are opportunities) but when you think historically to land reserves we are at an all time low. I can name you 2 sites downtown that are undeveloped and they're both under 3 acres and would both sell for $100mm. Outside in the 905 there are very few large land tracts left (100 acres+) that are left undeveloped or don't have significant problems associated with them.

But with that said I do know about one parcel 300 acres + a former golf course that may be redeveloped soon. So there are still opportunities but not nearly what has happened in the past. Toronto is turning into a mature market like San Francisco, New York, Boston etc...