Toronto Cinema Tower | 142.64m | 43s | Daniels | Kirkor Architects

Daniels is also building One Park West in Regent Park ahead of selling it.

42
 
I do not think or feel it is more risky to spec a downtown condo than a suburb one. Yes the site costs, land, and taxes would cost them more, but I think downtown is safer in terms of demand than would be the burbs no? (Then again, urban land economic theory would probably go against my though here, saying instead that demand would be equal due to land area being larger the futhur one goes away from a given centre of a city) but then again I disagreed with plenty when I took that course as economics so rarely can explain real world situations where there is flux and variables that cant be accounted for in a economic model such as emotion and impulse.
 
mckarisma said:
I do not think or feel it is more risky to spec a downtown condo than a suburb one. Yes the site costs, land, and taxes would cost them more, but I think downtown is safer in terms of demand than would be the burbs no? (Then again, urban land economic theory would probably go against my though here, saying instead that demand would be equal due to land area being larger the futhur one goes away from a given centre of a city) but then again I disagreed with plenty when I took that course as economics so rarely can explain real world situations where there is flux and variables that cant be accounted for in a economic model such as emotion and impulse.
Click to expand...

The main reason the risk in the two/three suburban locations is lower is, simply, construction time/cost. The projects in Mississauga are low rise/townhouse projects that can be constructed in about a year. So if you start construction in a reasonably strong market and have project at price points supported by that market you have a better chance of "hitting the mark" when the project is completed and ready to be sold/occupied.

A high rise condo (downtown or suburban....but far more common downtown) is typically a 36 - 48 month construction program so there is far more risk that the sales aren't there (either not there at all or just not at the price points you need) to support/justify the building costs.

Of course, the downside to presales is that if you sell out today at $X psf and the price at the end is $X+20% psf you have left some profit on the table. I have always felt the sensible approach for a developer was to presell the number of condos needed to generate enough income to retire the construction loan and then sell the balance of the units over the course of the construction timeframe at, hopefully, higher prices psf.
 
gristle said:
It is doomed. The site has been purchased by the developer and the building will eventually be demolished. It will become green space.
Click to expand...

I doubt it..:confused: and when did they decide this, as far as i know this heritage building would stay or even be moved to a different location nearby as part of this plan.
 
AG, maybe the heritage building you are making reference to is the one at the corner of Adelaide and John - on the Pinnacle site.

Regarding the Corned Beef House, Adam Vaughan mentioned its fate at a community development meeting.
 
The Corned beef house has a sign up stating it is moving to 270 Adelaide W.


The Champs Food Supply looks like its sticking around as the shoring has started adjacent to their property.
 
from yesterday
20100807a113.jpg


20100807a112.jpg
 
I can't beleive the size of the footprint. It's a little disconcerting. I'd take the corned beef house over the trading post at the south end of the property.
 
You must log in or register to post here.

Back
Top