Toronto Aura at College Park | 271.87m | 78s | Canderel | Graziani + Corazza

luxome said:
she said this Fall, but no specific date was given.
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this fall!?
so i take it that they pushed back the construction date further? preiously, a sales rep mentioned that construction may start in the summer this year.
 
I'd just like to see a shovel in the ground
 
Aura

For those who have invested in Aura, does anyone know if they has given the green light to reselling condos?
 
BrianSolo said:
For those who have invested in Aura, does anyone know if they has given the green light to reselling condos?
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I'm not totally sure but here's a recent article quoting Canderel Stoneridge:

http://www.theglobeandmail.com/servlet/story/RTGAM.20090219.wrhousingnew20/BNStory/Business/

During the slowdown, inexperienced developers that started their first projects to try to cash in on the boom are most likely to run into financial trouble, said Riz Dhanji, vice-president of sales and marketing at developer Canderel Stoneridge.

They may not be able to get financing, and could have to shelve projects that are still in the planning stages, he said.

Canderel has been in business since the 1970s and developing condos for 10 years. It plans to break ground this summer on a 75-storey mixed-use retail and residential tower in downtown Toronto.

Despite the housing market decline, sales remain steady at the project, which is called Aura. Some 90 per cent of the units have sold, Mr. Dhanji said.

A sales strategy that includes requiring substantial deposits and putting limits on flipping of presale units has helped protect it during the downturn, he said.

“Less than 5 per cent of our buyers have put down less than 20 per cent. With a deposit like that, you are much less likely to try to walk away,†he said.
 
301m and 86 storeys would make it the tallest building in Canada beating FCP's 298m. Who thinks this is realistic information? Sounds like the financing and sales of the building are sound..but I wonder if they will run into construction financing problems the way the Vancouver Olympic Village and the Calgary Bow Tower have.
 
If they are breaking ground this summer or fall, wouldn't there be an application for the extra floors by now? In this climate I just don't see it happening.
 
It makes me wonder why they haven't publicize the 86 stories and that no one here knows about it....i'm starting to feel sales reps are giving misleading information to possibly get more buyers.

I'm guessing because they think purchasers would like to be part of history making. :D

again, i would like to emphasize that the figures were not a direct source from me, just posting what i was informed.

Anyone got a chance to stop by to confirm?
 
In my experience, a guy simply walking past the sales centre would be more reliable for information than any sales staff. "I don't know" at least is honest.

A possible height increase? Personally, I'm more concerned whether this tower will even get off the ground. The site has its curses with more unbuilt tower proposals than probably any other outside the CBD. I'm happy the last bust killed the 600 unit, 22 storey Liberties on Bay part two though. Save the height increase for three years from now when *fingers crossed* construction has reached 500 feet and the market has miraculously rebounded.
 
Ouuuuu.... that's cold. But to be truthful, I agree with you Maestro. The sales staff has been telling that '10 additional floors' story from the day the office opened. I just want to see ground broken.

What about 1 Bloor East. Has that died and gone to heaven?
 
Johnzz said:
Would Aura be the tallest? This new proposed roof height is 290 meters, 8 meters less then FCP...
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FCP's 298 metre height height includes mechanical so why not include it in Aura? Plus it is more apart of the structure than the box sitting on FCP.
 
DaninToronto said:
FCP's 298 metre height height includes mechanical so why not include it in Aura? Plus it is more apart of the structure than the box sitting on FCP.
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Johnzz has indicated in post #1539 that the City had approved an additional 9m for mechanical, taking the currently-approved height from 243m to 252m.

We do not know if that 290m figure that the sales rep had given includes mechanical or not -- although it turns out that the previous 243m figure did not include it. If it does not include it, then we might be looking at 290m plus 9m mechanical for a total of 299m, 1m taller than FCP (and 1m below 'official' supertall status). However, the fact that the height with the spire is only 301m suggests that the 290m height includes mechanical.
 
BrianSolo said:
For those who have invested in Aura, does anyone know if they has given the green light to reselling condos?
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i thought that purchasers were not allowed to list for sale, advertise for sale, offer for lease, offer for sale, sell, lease, transfer not less than thirty days prior to closing. (as read from the contract)

and secondly, if investors have purchased a unit in Aura would they would have made much money thus far?
 
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