[WhipperSnapper]

Pre leased is pretty much a given the space will be occupied barring some extraordinary circumstance. Pre sold doesn't guarantee occupancy. That said, Toronto compares favourably well to other investor driven markets when it comes to sitting vacant units.

Keep in mind Toronto/Canada is extremely conservative in comparison to the US when it comes to commercial/office space usage and development. Tech is the driving force behind the office boom. A bust would be bad but, you still wouldn't see the numbers that are common throughout in the US.

As far as all the proposals, it's not outrageous to assume the combined number of square feet/units represents well over ten and even close to a 20 year supply. There's close to a thousand active and inactive proposals.