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

Dane said:
although that floorplan is much much to awkward a shape... that wall in the middle of the dining room couldn't be at a worse place.. and the library is wasted space with that curved wall.... curved walls are great on the outside... but inside? very difficult to decorate with..
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I actually like this floor plan, but, of course any purchaser would re-arrange as desired...

With a 12ft ceiling height, finishes equal to the Four Seasons PH, and 75 (hopefully 85) floors above ground, I would pony up $17 mil if able!
 
Johnzz said:
I actually like this floor plan, but, of course any purchaser would re-arrange as desired...

With a 12ft ceiling height, finishes equal to the Four Seasons PH, and 75 (hopefully 85) floors above ground, I would pony up $17 mil if able!
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For $17 million (at $1500 PSF), you know you could buy several mansions in Rosedale !
 
well comparing apples to apples (condos) rather than oranges (houses) ... I think the Aura penthouse unit is the 'cheapest' (in rich people terms) as compared with that of 1BE and 4Sesaons, its also likely cheaper than Ritz, Shangri-La, & Trump
 
Johnzz said:
I don't think this link is credible.

1 Bloor is ahead in the city application process and they're not expected to get official approve until late November.

Correct me if I'm wrong, but I wouldn't expect approval for the 10 extra floors until maybe spring 09.
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I haven't seen a rezoning application for Aura, only heard of a minor variance application. If it was a minor variance that was applied for, then the approval process is a lot quicker than a rezoning application, what 1 Bloor had. The MV only has to go to the Committee of Adjustment, while a rezoning goes to the Community Council then City Council. Both would have to go through City Planning, but the timeframe is quicker for a MV
 
I suspect the 10 additional floor will be sought through MV and not rezoning ... thats how most developers in the City have been doing it in recent years
 
marcus_a_j said:
I haven't seen a rezoning application for Aura, only heard of a minor variance application. If it was a minor variance that was applied for, then the approval process is a lot quicker than a rezoning application
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Marcus, what's the definition of "minor variance"? Would a couple extra floors for mechanical be a minor variance?
 
It's all relative. Minor variance can be more easily defined for smaller projects, but when the project is already a giant, what is minor is up for debate.

42
 
"minor" is assessed on the basis of the request's impact (ie: shadows, traffic etc) rather than the assessing the numeric value (size + magitude) of the request (ie: 10 floors in addition to 75 storeys, ~13.3%)
 
Given the current market, I would be surprised as hell if this gets off the ground. Pre-sales alone means that they would have to sell ~600 units before any construction could start. I can't see that happening.

Maybe in the next boom cycle but there's just no way right now that this can move forward.
 
given the recent slow down in the condo market, does anything think that the unit prices will ultimately fall?
 
Logan said:
Given the current market, I would be surprised as hell if this gets off the ground. Pre-sales alone means that they would have to sell ~600 units before any construction could start. I can't see that happening.

Maybe in the next boom cycle but there's just no way right now that this can move forward.
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The market in Toronto is still not that bad,and this development will happen maybe not this fall but i predict an early spring groundbreaking.
With a great design and location this building probably will be the tallest condo in Canada. Real estate investers in todays market are always looking for unique addresses
 
The developer is hoping for a spring groundbreaking so I certainly wouldn't expecting anything this fall.

Toronto's market is a safe place right now so the outlook for the short term should remain strong. Long term? A correction will happen. a fairly severe one at that given the amount of investors inflating market demand for the past few years. Just can't say when. The hotel boom should definitely put a damper on a lucrative revenue stream for investors ... condos leased as long term stay hotels.
 
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