Toronto 550 Wellington West and 1 Hotel | ?m | 15s | Freed | a—A

[allabootmatt]

Perhaps someone in the area can answer this query: I know Adam Vaughan has alluded in the past to doing a Spadina-type streetcar boulevard somewhere at the bottom of Bathurst. Was he just musing, or is there some kind of actual plan or study underway in that regard?

I ask because I *love* how the Thompson is turning out, but fear it will be undone by the ghastly current state of that stretch of Bathurst, streetscape-wise. It is sprouting quite an interesting collection of buildings and the experience would be greatly enhanced by some makeover work.

 

[urbandreamer]

Yeah, I think Bathurst is evolving from a frontier street (rundown lowrise shacks for the most part) to an urban city street (mid-rises.) I always think Bathurst will become the 21st century version of the 20th century Spadina Av: denser, more vibrant, more retail, even some office buildings--from Dupont to the Lake. (Heck, even up on the Jewish strip, those lowrise stripmalls are evolving--next time I'm up there, I'll try to take some photos of that weird concrete block midrise--looks very middle eastern--going up around Bathurst and Lawrence.)

South of College St will see the biggest transformation. Perhaps Central Tech could become a new UofT college, with the track grounds becoming the new Varsity Stadium?

Below Queen St, Bathurst will surely become a grand boulevard within the next 25 years I hope.

 

[Dan_550]

Hi Guys,

Been following this thread for a while, as I purchased in 550 a few years back. Received a letter in the mail this morning pushing the tentative move in date back to October 26th. Interesting turn of events given Thompson's desire to be operating by TIFF.

 

[carturo15]

I am not sure if the Hotel and the residential part will have the same completion date, maybe the hotel could be ready before

 

[MikeMang]

Received a letter in the mail this morning pushing the tentative move in date back to October 26th. Interesting turn of events given Thompson's desire to be operating by TIFF.

Ugh, just in time for the crap weather. I'm in the hotel portion of the building, I will see if they give me the same date as you when I check the mail tonight.

Dan_550 and anyone else thats moving into the building, I started a facebook group called "550 Wellington Residents" a few weeks ago. I think as we move closer to occupancy we could all benefit from keeping in contact with each other. I know the guys at 455 Adelaide (or is it 10 Morrison??) used facebook to band together and fight Freed on certain closing costs.

Thanks

 

[Dan_550]

As a point of reference I purchased on the 10th floor - so hopefully lower floor occupancy's will begin sooner, it'll be interesting to see if the hotel portion's occupancy differs. Getting a little tired of waiting, but by the looks of the project and developer this will be a great building.

I'll be sure to join the FB group, thanks for setting that up.

 

[MavRK]

Ugh, just in time for the crap weather. I'm in the hotel portion of the building, I will see if they give me the same date as you when I check the mail tonight.

Dan_550 and anyone else thats moving into the building, I started a facebook group called "550 Wellington Residents" a few weeks ago. I think as we move closer to occupancy we could all benefit from keeping in contact with each other. I know the guys at 455 Adelaide (or is it 10 Morrison??) used facebook to band together and fight Freed on certain closing costs.

Thanks

For those that capped closing costs, what numbers did you negotiate??

 

[MikeMang]

How many people capped their closing costs...and for how much?

I didn't. I didn't realize that was an option at the time. I guess I thought my agent would have suggested it since its in my best interest. My mistake.

 

[carturo15]

How many people capped their closing costs...how much?

Everybody capped their closing costs. it is $5.300 for one bedroom, I am not sure how much it is for bigger units. However, just a few closing costs are capped, it includes development charges, education levies and hydro connection. An additional levy was charged to owners of 455 Adelaide, it was a Park Levy for $233.000 for the entire project. This is the charge that was disputed by the owners and it was finally cut off. I am not sure if this item will be charged on 550 Wellington.

 

[MikeMang]

Everybody capped their closing costs. it is $5.300 for one bedroom.

Is that amount in the documentation somewhere?

 

[carturo15]

Is that amount in the documentation somewhere?

It is a separate amendment to your agreement of purchase and sale. By the way, I also received the letter today for October 26, I am on the 9 floor, I think everybody is getting the same completion date, it is a general date.

 

[MavRK]

Is that amount in the documentation somewhere?

I negotiated a hard number which is listed in the Amendment to the Purchase and Sale

Page 4, Paragraph 6 Adjustments. "The following costs shall be capped at $xxx: Any Development charges and educational levies; the cost of Water, Hydro and/or Gas Meter installation, connection, energinization fee."

 

[MikeMang]

Thanks guys, found it. I didn't get the letter today. Bummer.

 

[Torontovibe]

Yeah, I think Bathurst is evolving from a frontier street (rundown lowrise shacks for the most part) to an urban city street (mid-rises.) I always think Bathurst will become the 21st century version of the 20th century Spadina Av: denser, more vibrant, more retail, even some office buildings--from Dupont to the Lake. (Heck, even up on the Jewish strip, those lowrise stripmalls are evolving--next time I'm up there, I'll try to take some photos of that weird concrete block midrise--looks very middle eastern--going up around Bathurst and Lawrence.)

South of College St will see the biggest transformation. Perhaps Central Tech could become a new UofT college, with the track grounds becoming the new Varsity Stadium?

Below Queen St, Bathurst will surely become a grand boulevard within the next 25 years I hope.

I hope you're right. I've always thought that Bathurst was one of the worst streets in Toronto, with all those run down houses and little retail. For a major street, it's quite dead and kinda ugly. That street needs to completely change, with retail along the whole street and some nice density on top. Duffrin is also another one in need of a makeover.

 

[grey]

I hope you're right. I've always thought that Bathurst was one of the worst streets in Toronto, with all those run down houses and little retail. For a major street, it's quite dead and kinda ugly. That street needs to completely change, with retail along the whole street and some nice density on top. Duffrin is also another one in need of a makeover.

The street is improving, but at a gradual pace. I think it's better that Bathurst is being touched by successive generations of gentrification, rather than one sweeping overhaul in the present, which would most likely leave us with a dated aesthetic complete with garish street furniture.