Ryuinfinity
Active Member
Before the image loaded I believed you.Found this updated rendering on the Bazis website:
Before the image loaded I believed you.Found this updated rendering on the Bazis website:
Before the image loaded I believed you.
Found this updated rendering on the Bazis website:
I think the city may be playing with fire when they keep delaying these permits. Given the current unpredictable economic situation, it might be better to push some of these projects through while the developer has financing. It would be a lot easier for the lenders to pull financing if the project hasn't started.
I'm with you there. Mike, perhaps you could enlighten us as to what there is to 'review' here, and why it takes three or so months to do so?
I read all the threads...the one right before mine was talking about a building permit website (thanks very useful)…no shoring or foundation permits have been issued yet. The one before that was that there was construction hoarding going up around the site...indication of something or other.
The developer is having trouble get financing! I don’t believe that was mentioned which is a clear indication of the times.
There is also another project that is going down in South Etobicoke and the developer is looking to sell asap with 90% presold the reasons are that 1) There is still construction risk – the risk that the contractor will not complete. Costs for construction rise and the developer has to complete at a higher cost with reduced or no profit and stands to lose the equity. 2) There is the risk that purchasers will not close since they might be unable to get financing
Much greater risks all round.
no offense intended Luckycharms ... but I want to bring you attention to at least 10 pages worth of financing problems discussions + rumours of 1BE falling through ... there are definitely LOTS of rumours on UT about 1BE falling through (although Bazis has done nothing to confirm one way or another) ... I personally wouldn't mind 1BE as proposed now fail (and rumours proven true) so that a better looking tower gets put up ... but certainly there are others that want this baby built
it may be in your best interest not to pursue this subject further though