Brian Crombie Radio Hour - Epi 1452 - The Current State of the Real Estate Market with James Burton

Tonight on The Brian Crombie Hour, Brian interviews James Burton, Founder and Managing Director of Percy Ellis, a Purpose-Built Rental development company, about the current real estate market and two interesting projects he is currently developing in Leslieville. James discusses the current state of the real estate market, particularly focusing on purpose-built rentals with some commentary on pre-construction condos.He explains that while the condo market has slowed significantly, the rental market remains relatively stable, especially in the lower to middle price points. James notes that economic conditions, including a challenging job market for young people, have affected higher-priced units but have not significantly impacted the lower-end market segment where they focus their business. He emphasizes that the longer-term nature of purpose-built rentals allows them to be less concerned with short-term market fluctuations, as the sale of units is not necessary to move a project forward. By understanding more permanent market trends, such as population growth and upcoming supply shortages, they can focus on what things will look like at the end of their projects rather than the beginning.James also discusses two rental development projects in Toronto's Leslieville neighborhood. Eastern Logan, located at the northeast corner of Eastern and Logan, is near the upcoming East Harbour transit hub, which will connect subway, GO train, and streetcar lines. The second project, Laing, is approximately one kilometer east of Eastern Logan, near Queen Street and Leslie. Both projects emphasize walkability and transit accessibility, with limited parking, reflecting Leslieville's urban lifestyle. The Eastern Logan project is also touched on and Brian closes the show with an outline of an opportunity for accredited investors to invest in a secured convertible debt security issued by The Eastern Logan project.