Toronto 45 The Esplanade | 130.85m | 39s | Republic | Arcadis

mburrrrr said:
? Please go on. What did I miss. Separation or parking or future towers on the Green P and possibly loosing our bbq terrace. Anything else?
Click to expand...
Nope, nothing missed. Just that 25 Esplanade is a rightly-beloved building which stretches a full 74m east west and no one complains about the lack of 'separation distance', be it 21m, 25m, or more...methinks @rg123 doth protest too much.

Also there are changes afoot here. That's all ;).
 
From a City Press release of today re shelters.

The site at 45 The Esplanade will be the third temporary shelter location to decommission in 2022 because the property owner will re-start hotel operations in 2023. This shelter program will close to new admissions on October 12, and the City, in partnership with its operating partner, Homes First Society, will work with residents to develop individual relocation plans, which could include transition to permanent housing or a move to another shelter. All resident relocations will be completed before December 31, 2022.

A hotel again! I assume after a renovation.
 
I wonder what the renovation bill for the City will be to get the hotel back into shape? I wonder if the renovation fee will be negotiated against the future development fees.

Will it be renovated for next year or will we have a new hotel 2-3 years down the road? I guess we will find out sooner than later.

Will there be a full disclosure on the costs? Maybe I shouldn’t ask until after Dec 31.
 
mburrrrr said:
I wonder what the renovation bill for the City will be to get the hotel back into shape? I wonder if the renovation fee will be negotiated against the future development fees.

Will it be renovated for next year or will we have a new hotel 2-3 years down the road? I guess we will find out sooner than later.

Will there be a full disclosure on the costs? Maybe I shouldn’t ask until after Dec 31.
Click to expand...
Why do you think the City would be paying? The owners rented the space for a shelter, they removed the former hotel furniture so it was a 'shell'.
 
DSC said:
Why do you think the City would be paying? The owners rented the space for a shelter, they removed the former hotel furniture so it was a 'shell'.
Click to expand...
You don’t think there is any damage in there?

I thought the contract was to restore the property to its previous state. I thought the beds and TVs stayed in place. I assume they will need a lot of cleaning, patching, painting, new carpets, window covering, toilets, sinks, counters, maybe tubs/shower, lights, flooring, thermostats, etc. etc.
My guess is that each room is fully renovated.
200 rooms $20,000?/room minimum. I’m guessing the renovation bill is in the millions. Plus common areas. $10-$20million? Just a WAG. Maybe off by a zero. I’m not sure if it’s plus or minus the zero. :)
 
mburrrrr said:
You don’t think there is any damage in there?

I thought the contract was to restore the property to its previous state. I thought the beds and TVs stayed in place. I assume they will need a lot of cleaning, patching, painting, new carpets, window covering, toilets, sinks, counters, maybe tubs/shower, lights, flooring, thermostats, etc. etc.
My guess is that each room is fully renovated.
200 rooms $20,000?/room minimum. I’m guessing the renovation bill is in the millions. Plus common areas. $10-$20million? Just a WAG. Maybe off by a zero. I’m not sure if it’s plus or minus the zero. :)
Click to expand...
I guess we will see - from what I understand, they were initially planning a reno prior to covid (and, I assume, prior to the decision to redevelop the site). Of course, a major renovation will be expensive but they still plan to redevelop the site so I frankly doubt that that is on the cards.
 
City Obligations: The City will be responsible for security, biohazard waste disposal and related costs, and provision of blankets, linens, and mattress protectors for all the beds within the hotel during the term, and all costs related to preparing the building for the City's use including labour and materials. The City will be responsible for any damages to the Premises or additional costs incurred by the Landlord as a result of the City's occupancy of the Premises.



Here is the kicker. Write the cheque. Ouch!
Restoration of the Premises: The City shall, within 30 days following the end of the Term, vacate the Premises, remove any property of any kind brought on the Premises by the City and return the Premises as close as is practicable, to its original condition immediately prior to the Commencement Date, including but not limited to full deep cleaning of the Premises, replacement of damaged FF&E and other damaged property. The City shall pay Rent on the basis of 205 rooms/day for the period of time required to complete the restoration of the Premises.
After the end of the Term, the City will determine the City's estimated cost to restore the Premises, and the City will have the option of restoring the Premises or paying out the Landlord the cost to restore the Premises in lieu of restoring the Premise, provided that in the latter case, the Landlord is agreeable to accepting the payout amount. In the event that the City wishes to make payment to the Landlord in lieu of restoring the Premises, the City will notify the Landlord of the City's estimated cost to restore the Premises, and the Landlord may elect to be paid out the amount of restoration obligations as per the City's estimate (the "Restoration Costs"), in lieu of the City fulfilling its restoration obligations pursuant to this Section. The Landlord will notify the City within two (2) business days of receipt of the Restoration Costs whether or not the Landlord elects to be paid out Restoration Costs. In the event that the Landlord fails to notify the City of the Landlord's election within the said two (2) business days, the Landlord's right to elect shall be null and void, and the City shall proceed to restore the Premises as set out in this Section. If the Landlord elects not to accept the Restoration Costs, the City shall be required to restore the Premises as set out in this Section. The City shall not be required to pay the applicable gross Rent for the period of time required to complete the restoration of the Premises during the said two (2) business day election period.
I
 
DSC said:
I guess we will see - from what I understand, they were initially planning a reno prior to covid (and, I assume, prior to the decision to redevelop the site). Of course, a major renovation will be expensive but they still plan to redevelop the site so I frankly doubt that that is on the cards.
Click to expand...
But their negotiation power is huge. Sure fix up the hotel. We’re moving back in. Nudge nudge wink wink. How long will this drag out. Not long as they have penalty clauses for reinstatement.
 
“Approve and expedite our plan for a 110 storey tower or we’ll bleed you on renovations” I know they did the contract during a crisis, but did nobody see this coming?
 
1665537425176.png
 
DSC said:
From a City Press release of today re shelters.

The site at 45 The Esplanade will be the third temporary shelter location to decommission in 2022 because the property owner will re-start hotel operations in 2023. This shelter program will close to new admissions on October 12, and the City, in partnership with its operating partner, Homes First Society, will work with residents to develop individual relocation plans, which could include transition to permanent housing or a move to another shelter. All resident relocations will be completed before December 31, 2022.

A hotel again! I assume after a renovation.
Click to expand...
So the plans for a condo tower are cancelled??
 
I'd be shocked if they put the money into renovating back to a functional hotel. It will probably sit empty or be demolished to set up a sales centre.
 
  • Like
Reactions: DSC
You must log in or register to post here.

Back
Top