Toronto Bohemian Embassy Flats + Lofts | ?m | 19s | Pemberton | P + S / IBI

  • Thread starter TheAlmightyFuzzy
  • Start date
Pemberton Purchases Site

From Urbanation this morning......

The Pemberton Group purchases the Bohemian Embassy site (1155 & 1171 Queen Street West) from Baywood Homes.
 
Mike in TO said:
The developer is having some difficulties - it may be a while until everything is sorted out.

It'll hopefully all be resolved in short order - sorry it wouldn't really be appropriate to elaborate beyond that.
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Hans Possimon said:
I've just had the same thing confirmed by my friend in the know. He says that a major developer has bought the site from Baywood (as well as a few other ones) and will be pushing the project ahead.

I've been told Baywood is still involved though, but the control of the site has shifted to the new developer.

I shouldn't really relay who the new developer is until it is public, but they are a known developer, active all over the city, with VERY deep pockets.
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Solaris said:
Second runners up:
  • Conservatory Group
  • Great Gulf
  • Concord Adex
  • Pemberton
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Hans Possimon said:
Solaris, you have a good handle on who has the capacity to do these deals!

I'm told the buyer is in your second list.
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SpadinaBus said:
Pemberton Purchases Site

From Urbanation this morning......

The Pemberton Group purchases the Bohemian Embassy site (1155 & 1171 Queen Street West) from Baywood Homes.
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That confirms it !! thanks Mike in TO, Hans Possimon, and SpadinaBus
 
Register mail

I've called the office, they promised to send a registered mail confirming a new date some time next year.
 
Emba$$y said:
I had heard construction was to resume last week...anyone hear anything different or have an update?
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Just passed by and by the looks, work has stated with many workers on site.:)

O yeah..... just leting you know that they were also putting up a new banner at the n/west corner of Gladstone and Queen for 5 Gldstone. And again by looks, it will be a loft/condo building.
 
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AG ... I thought the northwest corner would be 2 Gladstone instead ??

If that's the case, a condo/loft development has long been contemplated there ~

2 Gladstone @ Queen (Streetcar + Context?)

In fact, a banner was previously on that building ~
current said:
April 30, 2008
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Aug 27

Concrete has been pour on the Queen St area with more rebar lay. Can't say if they are doing any work around Tower 1.
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Bohemian Embassy

There are approx 30 units left out of approx 365 in total.

In the next years we will see West Queen West growing leaps and bounds and changing from what it is today into a modern neighbourhood incl a new park, retail, community, etc.

Personally I am very excited about this. It was nice to roam around the old streets but at the same time progress and change is part of life and part of any living city that keeps it interesting and lively.

YK
 
Yossi,

I like the way the neighborhood is changing too.

But can you elaborate on the new park you mention in your posting? I hadn't heard of this. Where will it be?
 
New West Queen West park

Believe it's coming behind (south) of what is now the Post Office.

As far as I know the city has negotiated with the area builders to allow for community related (ie park in this case) in return for permits.
 
...and incidentally, with the exception of 48 Abell, very little of what's being lost around WQW is what gave the area its charm. Rather, the condos seem like they will do a good job of knocking out the strip malls and muffler shops and so on, which is only for the good, in my opinion...
 
48 Abell

48 Abell was a great building and we used to hang out there long time ago (in the 90's)... nonetheless it will be sold for development sooner or later - it's just a matter of price as the asking price at the moment is out of whack and the owners are making a lot of cash on the rents so they will wait until the rest of the area comes online and try to maximize the sale price.

Toronto residents must understand that growth and progress are unavoidable and that also means neighbourhoods changing. That happened not only now but many times over the life of the city... just look at the old pics.

Personally I like the BoHo project and hopefully the exterior finishes will be pleasing.

YK
 
Pemberton Buys Bohemian Embassy Site

Pemberton bought this site from Baywood on August 6, 2009. The price was $4.5 million cash plus they assumed $4.128 million as part of two mortgages. Interestingly, there were actually five mortgages on the property.
 
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