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The speculators and investors are trying to avoid selling as they want to hang on. If the price of the condo is dropping vis a vis rent, the value will need to be adjusted. The current formula of putting 20% down with the renter covering mortgage/condo fees/taxes was already a cash-flow...

Condo prices are not increasing they are decreasing. Downtown you can rent units that 12 months ago were $2300 per month for $1800 now. The investor/speculators that recently bought in are now under water. Much of this is attributed to Airbnb although other factors such as quality of lifestyle...

https://www.canlii.org/en/on/onlpat/doc/2020/2020canlii14762/2020canlii14762.html?searchUrlHash=AAAAAQAHbWl6cmFoaQAAAAAB&resultIndex=1#related

There's one guy

Thanks for posting. Who comes up with the $21.9M figure? Seems excessive.

Nobody hates the developer nor does anybody wish him harm. There is justifiable criticism being directed toward him and this project.

Hard to believe the lenders aren't aware of this stoppage, impossible really.

As long as the price of real estate continues to climb, the lenders won't panic and will continue to extend time/money to see this to completion. If real estate prices sour severely, then Mizrahi will obviously lose control and lenders will make decisions that suite them best. Let's hope the...

Hello Adam, Happy New Year. We have received your inquiry about construction at The One and wanted to share an update. The site is now at grade and had phased permitting on the development. The phased permitting began with our demolition followed by shoring, excavation, and foundation works...

If a lease is signed there will most certainly be delivery dates required. There would be clauses to push out those dates but ultimately if the deadlines are missed the tenant will have the option to terminate the lease.

The interest on construction loans is pretty high as is the cost of renting two cranes. He's probably burning at least $30,000 per day with this work stoppage.

The retail vacancy could be filled if the asking rents decreased. Retailers and brokers are aware of the incoming population and traffic. The asking rents are likely too high.

Lol. Mizrachi probably feels like he's getting kicked in the nuts everyday this project sits idle. I can't even imagine the pain.

Let's make it a bit riskier. Offering odds of 2:1 on $100 that they don't restart by Feb 5.

Fine. Then willing to do the honor system. Wager is open and willing to increase the amount up to $200.

Anyone want to make a wager as to the restart date? $50 says they don't restart before Jan 19. Willing to etransfer to moderator to secure funds.

There are different types of delays. Some are weather related or accident on site triggering investigations etc I believe it is called force majeure. A work-stop order that isn't remedied could be considered negligence on the developers part.