Mississauga 325 Burnhamthorpe Road West | 206.15m | 65s | RGF Developments | Turner Fleischer

T-F stands for what it stands for...............

But between the elevators and the appalling lack of creativity on the towers........even by T-F standards this thing is anemic in its paleness.
 
Do potential buyers not care about the units/elevator ratio and the potential for long waits and crowded elevators? Or are most of them investors who don't give a damn about the inconvenience facing their future short/long-term tenants? If that's the case, the city (Mississauga) should step in and mandate an acceptable ratio before approving the proposal because frankly this is a potential hazard, not just inconvenience.
 
Rascacielo said:
Do potential buyers not care about the units/elevator ratio and the potential for long waits and crowded elevators? Or are most of them investors who don't give a damn about the inconvenience facing their future short/long-term tenants? If that's the case, the city (Mississauga) should step in and mandate an acceptable ratio before approving the proposal because frankly this is a potential hazard, not just inconvenience.
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The city should step on for a number of reasons but no one wants buildings in their city with high turnover. That’s not going to be good for anyone. And investors should take note of that.
 
Rascacielo said:
Do potential buyers not care about the units/elevator ratio and the potential for long waits and crowded elevators? Or are most of them investors who don't give a damn about the inconvenience facing their future short/long-term tenants? If that's the case, the city (Mississauga) should step in and mandate an acceptable ratio before approving the proposal because frankly this is a potential hazard, not just inconvenience.
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I guess most NA are used to single family home, not high rise condo. They aren't aware of this details. I was not familar with the building code in Ontario, so I can't say anything for the elevator and the emergency stairs. We will see.
 
Rascacielo said:
Do potential buyers not care about the units/elevator ratio and the potential for long waits and crowded elevators? Or are most of them investors who don't give a damn about the inconvenience facing their future short/long-term tenants? If that's the case, the city (Mississauga) should step in and mandate an acceptable ratio before approving the proposal because frankly this is a potential hazard, not just inconvenience.
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sixrings said:
The city should step on for a number of reasons but no one wants buildings in their city with high turnover. That’s not going to be good for anyone. And investors should take note of that.
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Cities don't have the authority to enforce this kind of thing. It would have to come from the Province through the OBC. \/
ProjectEnd said:
You can, you just need to put it in the OBC. If in code, it's not something that a developer can get out of. Also, given that taller and taller buildings are reliant on elevators for emergency crews, it absolutely is a life safety issue and should have been put in the code years ago.
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The tower separation is pretty minimal. 5 towers seems like a lot to cram on this site. 3500 units = 6300 residents on a 1.8 ha site is 3500 residents/ha or 350,000/km2. This is some pretty serious density. The 2800 car parking spots seems like a pretty concerning portend of how residents will be getting around...

I don't think this is very well considered at all.
 
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Rascacielo said:
Do potential buyers not care about the units/elevator ratio and the potential for long waits and crowded elevators? Or are most of them investors who don't give a damn about the inconvenience facing their future short/long-term tenants? If that's the case, the city (Mississauga) should step in and mandate an acceptable ratio before approving the proposal because frankly this is a potential hazard, not just inconvenience.
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Yeah 70% of precon units are investor owned.
 
Yeah 70% of precon units are investor owned.
Is that still the case? I read somewhere with rising costs of construction (passed on to buyers of course) and higher mortgage, investors buying precon units and renting them out are actually in the red (I guess depending on the size of their down payment). They’re hoping for capital gains of course, but how long do they have to wait in this market? I think the days of nearly double digits annual gains are over, at least in the near future.
 
afransen said:
The tower separation is pretty minimal. 5 towers seems like a lot to cram on this site. 3500 units = 6300 residents on a 1.8 ha site is 3500 residents/ha or 350,000/km2. This is some pretty serious density. The 2800 car parking spots seems like a pretty concerning portend of how residents will be getting around...

I don't think this is very well considered at all.
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2800 parking spaces for 3500 units is actually quite low for Mississauga. Most developments downtown are at least 1:1 parking to units, if not more.

Agreed that this is extremely dense as a whole however.
 
Rascacielo said:
Yeah 70% of precon units are investor owned.
Is that still the case? I read somewhere with rising costs of construction (passed on to buyers of course) and higher mortgage, investors buying precon units and renting them out are actually in the red (I guess depending on the size of their down payment). They’re hoping for capital gains of course, but how long do they have to wait in this market? I think the days of nearly double digits annual gains are over, at least in the near future.
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Investors can be in the red cash flow wise and still be making decent returns, even without capital appreciation through increased equity from rent paying for (most) of the mortgage. Not as much as they used to be making though.

Leverage is fun!
 
ProjectEnd said:
Cities don't have the authority to enforce this kind of thing. It would have to come from the Province through the OBC. \/
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The key to action here is to make sure that Doug Ford’s government gets captured by “big elevator”. They gotta wrangle some Vegas trips or tickets to family functions. There another stag and doe coming up?
 
Rascacielo said:
Yeah 70% of precon units are investor owned.
Is that still the case? I read somewhere with rising costs of construction (passed on to buyers of course) and higher mortgage, investors buying precon units and renting them out are actually in the red (I guess depending on the size of their down payment). They’re hoping for capital gains of course, but how long do they have to wait in this market? I think the days of nearly double digits annual gains are over, at least in the near future.
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They're in the red, but they're raising rents to offset that (massive growth in rents since spring 2022) and the banks are allowing everyone to extend amortizations. Judging by the fact that no tidal wave of units hit the market so far, I'm guessing everyone's hanging on for now.

I don't know about the gains ending. We just posted 15% price growth since the beginning of the year. Of course, it remains to be seen how things play out.
 
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