Toronto 4800 Yonge Street | 168.24m | 49s | Menkes | Arquitectonica

Northern Light said:
You should also remember to stop by and see @Edward Skira when you're in the hood, rumour is he hangs out the area when he's not in the corner office at UT HQ.
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He runs this site from that Yonge Sheppard Centre Tim Hortons on a laptop while reading the morning paper there? 😼
 
UtakataNoAnnex said:
He runs this site from that Yonge Sheppard Centre Tim Hortons on a laptop while reading the morning paper there?
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The UT office is a few blocks north of North York Centre station.
 
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It's hard to believe this area is getting a tower by Arquitectonica, but Yonge and Sheppard is one of the most well-known intersections of the city with two subway lines at its doorstep. It deserves something special.
 
Question: Sales hasn't launched but construction has started. Typically 70% sales threshold is required before construction financing is approved. Is it likely this project is being financed upfront by developer equity? Can someone explain the logic behind this strategy, especially in this market?
 
sensitiveinspector said:
Question: Sales hasn't launched but construction has started. Typically 70% sales threshold is required before construction financing is approved. Is it likely this project is being financed upfront by developer equity? Can someone explain the logic behind this strategy, especially in this market?
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Menkes is one of a handful of developers that can back their projects with their own cash, and as a result regularly start projects before sales hit targets.

Sugar Wharf 2 is also advancing through a very expensive demolition process right now without sales, for example.

Daniels also often starts before sales targets are hit.
 
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