Toronto 2 St Thomas | 80.46m | 26s | KingSett Capital | Hariri Pontarini

greenleaf said:
There is a pile driver on site and shoddy fencing around the perimeter of the property.
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The residents of One St Thomas must be thrilled to have a pile driver pounding away right by their building. I would expect the One St Thomas residents would have both the connections and the political clout necessary to have the excavation contractor have the pile driver replaced with a shoring machine.
 
It is bizarre it has taken so long, if so. Such a great location and a beautiful street. If I had a few million to drop on a condo it would be here!
 
Maybe this building is going ahead as rentals, and with the previous design (which they must have their approvals for if excavation is actually starting)? Anyone hear anything?

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Curiosity killed the cat. OMB ruling here: http://www.omb.gov.on.ca/e-decisions/pl150088-May-01-2015.pdf

Basically (if I am reading this correctly), residents of One St. Thomas (TSCC 1924) were upset over 8 minor variances approved by CoA (including a larger rooftop patio, increase in units, going all rental) and wished to contest them. The OMB dismissed the motion and Thomas Holdings may go ahead with their plans that are approved by the city.
 
They have torn down the trailer and and have placed a sign indicating a 2017 move in date. I wonder when they will finalize # of units?

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Walked by today and construction is indeed well underway.

Seems the plan must be for rentals, given the lack of pre-marketing in the current iteration.

Is HPA still doing the design? Here's hoping for continuity with the glorious McKinsey building next door, if so.
 
ohhhh, this is exciting news. The more new purpose-built rentals the better. I'd be apprehensive about renting out a new condo unit from an individual investor and I'd much rather deal with a property management company that's on-site and has their stuff together. Should be seeing more and more of this in TO.

Do the renderings in the database match the one on the site signage?
 
Based on the pic of the onsite signage, no, they don't.

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NBGtect said:
ohhhh, this is exciting news. The more new purpose-built rentals the better. I'd be apprehensive about renting out a new condo unit from an individual investor and I'd much rather deal with a property management company that's on-site and has their stuff together. Should be seeing more and more of this in TO.
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My issue with new rentals is that they are out of reach for most middle income people. We need affordable rentals with all these sleazy REIT's invading the city - putting lipstick on a pig and then jacking up rents & pushing out long-term residents with outrageous AGI's every year or two. In a perfect world a portion of a rental building (say, like 43 Gerrard St.) would be market rentals with a mix of affordable units. Co-0p rentals are an excellent, affordable housing alternative, but no levels of government are investing to build them since about the early 90's.
 
dt_toronto_geek said:
In a perfect world a portion of a rental building (say, like 43 Gerrard St.) would be market rentals with a mix of affordable units.
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Interesting idea. How would some of the units be more affordable than others if they are in the same building? The only way I could imagine it, would be by making the affordable units smaller. Is that what you mean?
 
dt_toronto_geek said:
My issue with new rentals is that they are out of reach for most middle income people. We need affordable rentals with all these sleazy REIT's invading the city - putting lipstick on a pig and then jacking up rents & pushing out long-term residents with outrageous AGI's every year or two. In a perfect world a portion of a rental building (say, like 43 Gerrard St.) would be market rentals with a mix of affordable units. Co-0p rentals are an excellent, affordable housing alternative, but no levels of government are investing to build them since about the early 90's.
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Yep. The rents are pretty high...which is why I think there will still be a strong market for condo rentals. Why pay $1800 for a 1 bed when you can rent off of joe blow for $1500 with less red tape?
 
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