The city of Toronto is in the midst of unprecedented development fuelled by low-interest mortgage rates, foreign investment and staggering commute times. Despite this, a small percentage of properties remain vacant or abandoned in Toronto. This paper identifies the types of properties that are vacant and abandoned, assesses the property stock for degree of decay and re-examines the appropriateness of the classification of 'vacant' and 'abandoned'.
This research indicates that vacant buildings in Toronto transition to abandonment for reasons that may be different from American cities. Vacancy in Toronto may be more affected by lengthy planning approvals, development financing and issues of site acquisition, more than urban decay or blight.
The research further indicates that most vacant and abandoned buildings in Toronto are residential, commercial vacancy is transient by nature and industrial abandonment is found mostly along existing railway corridors.