Toronto KING Toronto | 57.6m | 16s | Allied | Bjarke Ingels Group

Boy, was it...

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ProjectEnd said:
Boy, was it...

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I was thinking of buying some shares at that price, but what's the upside with this company? They're apparently going to sell off $500 million in real estate just to pay debt and also issue 40 million new shares, which is going to dilute the value per share and make it harder to get any growth in value. That's after writing down the value of their assets by $1.4 billion and pivoting into residential at a bad time.

They've got their work cut out for them. The best thing they can do is to do a good job of their new projects like KING Toronto to stay competitive as the office market gradually recovers. The quality of their product seems top notch. It seems that they've misread the market, lost a lot of money and value, and are trying to stabilize things. I hope they can turn things around because I love what they build. They make our Canadian cities better places.
 
The past week has been consistently active at King Toronto. Photos are from Tuesday, Thursday, and Friday. But one comment for which there is no photo - for the first time in a very long while, the King Toronto site was active on a Saturday - a full size flat-bed truck arriving just before 1 PM with a load of cladding / glazing components. The west tower crane was working for approximately 3 hours doing the unload.

The north-west section of the King Street facade was the focus of the cladding installation work over the past week. Several sections had glass blocks missing - presumably damaged in transit and can be fixed in the field. The glass blocks are from China, while the cladding sections themselves are assembled in and shipped from Korea.

Tuesday - February 10:

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Later in the day - additional cladding sections installed:

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Thursday, February 12:

Both tower cranes working today:

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Friday, February 13:

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^The first post about this project was back in April 6, 2011...

...so they might not be that far off the mark here. >.<
 
artemperederii said:
Hey guys I know I might missed it 100 of times, but is there a retail map or any potential retail known here?
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Only Whole Foods announced. They're going in the basement with an entrance in one of the storefronts on King.

Going back to the "this thing will never get finished" theme, I can't imagine any prospective retailers can be attracted at this point. Whole Foods has to outfit a very large space in the lower level which is ready for them to start work right now. I imagine we'll start to hear about more retailers a year from now when a light at the end of the tunnel will be more apparent.
 
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