Toronto 88 Isabella | 199.22m | 62s | Capital Developments | Diamond Schmitt

dougtoronto said:
Still find it kinda wild that there was nowhere else to build a new 200 metre tower that didn't require demolishing this building, which I always thought was quite handsome and one of the best examples of the mid-century apartment block we had in the Village. I hope we don't regret this loss.
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It's not that there was nowhere else to build a new building, it's never that. It's that this is the site the developer owns; they can only build where they own.

In the meantime, there are another dozen towers planned all over the 'hood, from a dozen different developers. Some other buildings will come down (none as large as this IIRC) and some will go up on greenspace on tower-in-the-park sites, others will go up on surface parking, some will be tucked in behind the walls of heritage homes... this is the evolution of a city where there's a huge demand for housing, and limited space to build it.

42

PS: DB file updated to all rental.
 
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There is almost no trace left as of today...

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The economy for highrise developments will determine how long Capital Developments takes to make use of this property. Capital Developments are trying to sell their Gerard/Yonge project and they are partnering with Kilmer Group on a rental in Willowdale. In the meantime, they are trying to finish and sell off their remaining units at their Park Road and their Elm/Yonge properties.

I count at more or less 10 towers in the pre-construction phase between Church and Sherbourne. Any developer proceeding in this economy either for rental or condo had better have deep pockets because investors have an inventory they are trying to offload and will compete with developers both with sales and rentals.

It is reminiscent of the early 1990's when condo's prices fell dramatically and did not recover for many years. History may be repeating itself.
 
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