GameOnBrad
Active Member
I walked past here again this morning and did a walk around the entire lot this time, snapping some shots...
Toronto Q Tower | 197.4m | 59s | Lifetime | Wallman
- Thread starter DonValleyRainbow
- Start date
GameOnBrad
Active Member
New machines on site. Looks like they are getting ready for piling/drilling/digging.
Last edited:
GameOnBrad
Active Member
SIGNIFICANTLY more construction equipment on this site now and an additional trailer. I suspect once the weather gets better, there is going to be a tremendous amount of momentum at this site...
Collingwoodbuildinglover
Senior Member
did this one switch to rental ??
ProjectEnd
Superstar
Collingwoodbuildinglover
Senior Member
I was curious because sales are absolutely in the drain how they got enough funding to start digging
ProjectEnd
Superstar
There are different ways to top that up, they just require the developer to put in more equity. You are likely correct in that there is no way they've sold ~700 units here.
Collingwoodbuildinglover
Senior Member
Thanks for the clarification on that one
Collingwoodbuildinglover
Senior Member
I still really wish they had a stuck with two tower design they initially had
Undead
Senior Member
Hey PE, curious, why would a developer pump more money into a project when the market is so bad? And without converting to rental. What's their thinking here?
ProjectEnd
Superstar
They pull DM, CM and SM fees so as long as it's moving forward (regardless of sales numbers), Lifetime gets paid. Also, it's not Lifetime themselves putting in the equity, it's part of their capital stack (other new investors, more money from existing investors, etc.).