Brandon Donnelly — Daily insights for city builders. Published since 2013 by Toronto-based real estate developer Brandon Donnelly. — Page 729

blogTO recently published a piece about the West Toronto Railpath : "the city's hidden urban trail next to the train tracks." In this particular instance, the headline is actually pretty accurate. (If you know blogTO, you'll know what I mean.) I think that there are a lot of Torontonians who don't know this railpath exists. Build over top of a decommissioned rail line (but adjacent to an active one), the railpath is a 2.1 km trail that runs from the Junction in the north (basically adjacent to Junction House ) to Dundas West & Sterling Road in the south. But there are plans to extend it further south to Queen West. Public meeting number two was held back in February of this year ( presentation here ) and construction of the extension is expected to start as early as next year. The City has to acquire some additional lands in order to make this all happen.

Here's a map from the City showing both the current West Toronto Railpath and the planned extension:

What I like about this map is that it starts to show you just how multi-modal the city is becoming and how important these individual initiatives are for our broader mobility network. Here you can see how the WTR currently connects into the Bloor GO / Union Pearson Express station and how the extension will bring it within striking distance of the planned King-Liberty Village station. You can see how the railpath will interface with the Davenport Diamond Greenway that I wrote about last month (mustard color). And you can see the various pedestrian/cycle crossings that have already been built to better stitch the city together. Though hidden to some, these pathways, greenways, and crossings are critical to how many people commute and enjoy this great city. I have certainly been doing a lot of the latter this summer. Almost exclusively atop two wheels.

Urbanation released its Q2-2020 condo market survey results earlier this week. This data represents the first full quarter of sales to be entirely impacted by COVID-19. Not surprisingly, sales activity was way down. But pricing and construction starts actually increased. Here are some of the highlights:

• New condo apartment sales totaled 1,385 units across the Greater Toronto Area. This represents an 85% year-over-year decline and the lowest sales activity since Q1-2009. Only six projects launched during this quarter.

• Most of the projects that did launch were outside of the core of Toronto. So that skewed pricing downward. In the first quarter of 2020, the average selling price for new launches was $1,159 psf. In Q2, this number was $889 psf -- again, reflecting a shift in geography.

• But if you control for geography and compare year-over-year launch prices within the same submarkets, prices did in fact increase in Q2 compared to last year. At the same time, the average price for unsold units in Q2 increased by about 9% year-over-year to a record high of $1,087 psf. Unsold inventory also declined by about 19% from last year.

• On the construction front, a total of 7,388 units started construction in Q2. This is a 45% increase from Q2-2019. A lot of this growth is coming from the suburbs, where presumably there are fewer supply constraints.

• Given the resiliency that the market has been showing, Urbanation expects to see an increase in new project launches in Q3.

Chart: Urbanation

This is an excellent blog post by entrepreneur and venture capitalist Vinod Khosla about some of the "instigators" that are working to help solve our climate crisis and some of the areas in which we probably should be focusing on next. One of the things that's noteworthy about the post is that he distills it all down into 12 areas of focus that -- if solved and if scaled -- could have a material impact on carbon emissions. They are (verbatim):

1. Electric vehicles & automotive batteries

2. Food & agriculture, especially meat

3. Low carbon transportation: Air transportation (jet fuel), shipping (electrofuels, biofuels?)

4. Cement or substitute construction material

5. Low carbon dispatchable electricity generation (fusion, geothermal, nuclear)

6. Public transit

7. Grid storage (long duration battery storage)

8. HVAC

9. Industrial processes (hydrogen?)

10. Fertilizer (hydrogen)

11. Water

12. Steel

Looking at this list, it is clear that some of these things are already happening (and some aren't). I currently own an ICE vehicle, but I'm fairly certain it will be the last non-electric vehicle I ever own. It's also not clear whether I will want to continue owning a car. Dynamic mass transit and overall autonomy are things that we've talked a lot about on this blog.

But here's the other idea put forward in Khosla's post. If these are in fact the 12 most impactful and important categories, then we may only be 12 or so companies away from real solutions. We only be 12 or so entrepreneurs away from meaningful societal change. When you look at it this way, the climate crisis should hopefully feel a lot less daunting.