The growth of Canada’s inner cities is positive, says Jack Diamond. Now we need more diversity.
The population of Canadian cities has been increasing rapidly for about a decade now. The trend reverses the previous trend towards decentralised communities within an ever-widening geographic base to such an extent that Jack Diamond, principle at Diamond Schmitt Architects Inc., believes it’s a revolution.
On one hand he says, it is extremely positive.
The inner city is really where the financial core is, where major decisions are made, and where an interaction between research, finance, innovation and venture capital occurs. Close proximity is a very important component in the success of a city. With the decentralization, we were beginning to lose the synergy you get from proximity.”
On the other hand, most of the influx is made up of transient young people and empty nesters. Families, inexpensive space for innovation, and stable residents willing to engage in community development are in short supply.
With the growth of the condominium market and the conversion of warehouses to showrooms at the higher end to condominiums and lofts and such, we’re losing incubator space and a low-rent component,” says Diamond. “So the question we face is how do we redress that balance? To me, that’s the essential question to market to a long-term much more stable, far healthier and diverse income and age group so that it’s a really successful city.”
This article was published on p 63 of Canada’s Leading Real Estate Forum, Toronto, Winter 2012.
