Today we caught up with Pedro Lopes, CEO of Marlin Spring Developments to hear about all that’s been going on in the company.

As anticipated, 2025 has so far been and will continue to be a year of record home completions for Toronto and GTA. This is resulting in a temporary over-supply of housing, particularly for condo units.  The ever-evolving circumstances around US tariffs have also added an increased level of economic uncertainty that has negatively impacted buyer confidence – combined these factors have resulted in a dramatic slow-down of pre-development sales and even resale activity.

Our commitment to delivering high-quality, high-value homes to the Toronto and GTA market is unaltered and because of that continued confidence in its long-term fundamentals, we have been working on creative solutions to continue to deliver homes in an ever-changing and challenging economic environment.

In the next few weeks, we anticipate starting construction on a new rental community with over 300 units on the west end of the city – this will mark another exciting milestone for Marlin Spring Developments, as we embark on the construction of our first PBR project!

We also anticipate starting construction on a new condo development in Mississauga over the next few months and are currently working on the logistical plans that will facilitate what will be another incredible milestone.

On another positive note, the current economic conditions are making way for a more competitive environment, where we are seeing construction costing stabilize and even retract from all-time highs.  There have also been notable improvements made in the regulatory environment, with all levels of government finally starting to meaningfully engage with the industry to improve the process to reduce red tape, improve timelines and look for financial solutions to facilitate housing development and construction. 

The Marlin Spring Developments’ team will also be delivering 2 new communities by mid-year; House of Assembly and Curio on the Queensway and will be closing on approximately 350 townhouse units at Iveylea, most of which occupied over the last few months.  Altogether, Marlin Spring Developments will deliver 820 new homes this year!