Toronto 3180-3202 Yonge Street | 58.13m | 15s | Montcrest | Richard Wengle

[ProjectEnd]

It seems these weirdos changed their name from Nyx (seemingly a Spanx n' Pantihose manufacturer from the 90s?) to Montcrest Asset Management (taking a page out of the Stratton Oakmont playbook?). Maybe @Art Tsai can change the database and thread title to reflect?

 

[1Ć0]

NYX are trying to sell this site too (for a hilarious asking price)...

Yup. I think they spent over $30m on the assembly at roughly 125K SF GFA. So high $200/buildable. I assume they'd be looking for north of $300/buildable to make their money back and a bit of profit

 

[ProjectEnd]

Yup. I think they spent over $30m on the assembly at roughly 125K SF GFA. So high $200/buildable. I assume they'd be looking for north of $300/buildable to make their money back and a bit of profit

Higher...

 

[1Ć0]

Higher...

Piece of cake in today's market. I'm sure bidders are lining up

 

[Northern Light]

Residential Demolition Application to the next meeting of NYCC - Refusal Recommended:

https://www.toronto.ca/legdocs/mmis/2024/ny/bgrd/backgroundfile-246602.pdf

The key here is the usual, that no building permits have been applied for as yet.

 

[Midtown Hank]

"We would like to move forward with the demolition process soon so we can start construction without delay once the other approvals (i.e. site plan approval and a building permit) are in place."

My understanding is they are also looking to add 4 more stories, so not sure how they think they could start construction without delay? Also, see this as very low probability that Montcrest will develop, rather they are trying to get demolition and added height to justify their high asking price.

 

[Northern Light]

Don't see the application yet............but this is coming:

@Paclo

 

[Paclo]

Don't see the application yet............but this is coming:
@Paclo

MV link: https://www.toronto.ca/city-governm...nt/application-details/?id=5456618&pid=298688

Architectural Plans have not yet been uploaded to the AIC but the database has been updated to reflect the Minor Variance application at 15s / 58.13m, 153-units (increases from the approved 11s / 42.53m, 115-units). Renderings currently in the database reflect the previous design.

The staff report recommends the variances be refused citing lack of height precedent within the draft Lawrence PMTSA. The Committee of Adjustment hearing has not been scheduled yet.

As of July 18, demolition permits have been issued for all structures within 3180 - 3202 Yonge