Lamb Development Corp
In a city that has gone condo crazy, Lamb Development Corp is about as hot as it gets. The company is set to launch four new developments in the Golden Horseshoe this year – including an ambitious 700-unit project at the old CHCH building in Hamilton – while completing or breaking ground on another four in Toronto and Ottawa in the next several months.
Lamb is also investing heavily in Alberta, where the next five years will see more than half a dozen major developments introduced.
“I’m optimistic now,” Lamb says about the Alberta market. “I certainly was pessimistic two and a half years ago. We’re just out of the bottom, so we’re in the early days. But it’s bright skies ahead.”
Lamb is a little less optimistic when surveying the current development landscape in Ontario. He considers the purpose-built rental industry to be “dead and buried” and the single-family market to be virtually non-existent in Ontario “unless there are major policy changes. Homes within an hour of Toronto will continue to go up by double digits as long as the government doesn’t do something to increase the amount of land available for single-family homes.”
All good news for Lamb, who is better positioned than anyone in the industry to take advantage of the increasing demand for condos in Toronto. “It’s almost insatiable,” he says.