Since the completion of the Sheppard subway line in 2002, there has been a boom in condominium construction along the route.
Another reason for the lack of condominium construction is the scarcity of land.
That does not mean that condominium construction has disappeared entirely.
These regions experienced condominium construction and conversion in the 1970s and 1980s.
The mushy market for new apartments in Manhattan does not offer a very firm foundation for condominium construction.
Local parishes were given the opportunity to develop the buildings as community centres, for example, rather than give way to condominium construction.
"The condominium construction has been sold significantly to people who had investment ideas, and that is now a very glutted market."
The construction will start after the company has acquired state approvals for condominium construction in about four months.
The entire area continues to be an area of intense building, notably a boom in condominium construction in the 2000s (decade) and the 2010s.
They say history may prove the 80's surge of co-op conversion and condominium construction to be an aberration.