Toronto Four Seasons Hotel and Private Residences Toronto | 203.9m | 52s | Lifetime | a—A

They wrote Dear Mr. last name. I changed it. Wouldn't it be funny if a project's reputation was ruined by something like this.
 
I am so sad about it...
Why it couldn't be 55 stories...Damn NIMBYs, they didn't
change it much except the fact that now is 46 stories...
always the same old story...I'm sick of that. But I am sure, soon or later, Manhattanisation will do its job as well
in this city.
And no NIMBY can stop that, and will not stop that.
That patern is almost a chliche. You can't extend-expand the city "AD INFINITUUM" if you want to avoid urban sprawl, but you can go up, towards the sky. And that is kinda truism and
unchangeable. 8o
 
Developers should clue in and start applying for ridiculously absurd heights to end up with the actual height they want. In this case they should have asked for 65 storeys.
 
^ How do you know that "55" wasn't the developers "ridiculously absurd height" and that 46 isn't the actual height they wanted?
 
The plaza has been completely shut down. This morning I saw construction workers on site and it looks like they're assembling scaffolding on the NE corner of Bay & Yorkville.
 
i suspect we'll see some surprising figures when that sales centre opens. from what i've heard they've been selling units on prospect for awhile now, so it wouldn't surprise me if they're at 30-40% sold at the end of the first day

and i dont know if they're still doing it, but at one point the plan was to sell 'bare' units, ie; it would come with bare concrete floors and walls, and it would be the buyer's job to hire a designer and contractor to come in to finish the suite.
 
If they are doing the bare thing it's an excellent idea--at the price points the project is looking at, I imagine many buyers want the flexibility to do their own thing, from top to bottom.
 
There are now demo signs up on the building at the corner of Bay/Yorkville. Looks like they will be tearing it down instead of just converting it into the sales center. They have also made some modifications to the parking lot to allow larger vehicles in. I wonder if they will put the sales center there or get to work on construction right away.

The parking lot as part of 100 yorkville is closed. Work has begun on preparing the site for excavation.

Regency is working on the 4th floor.

Lotus excavation is essentially complete. Expect the crane up very shortly.

JG
 
Thanks for the updated, jg. This area of town will see some big changes over the next year or two.
 
I wouldn't be surprised if the 4 Seasons just started excavation immediately, and counted on selling the units as it goes down (and up). If they are even using any financing for this, I'd imagine with a brand like that the sales threshold needed for it to kick in is very low.
 
if the ritz couldn't build on spec i doubt four seasons could.
 
I don't think its a matter of getting financing always, its the principle. From a business perspective why would you want to build with borrowed money or your own assets ... When you can use the deposit money from people buying in the building ...

If you have read any of David Bach's books, he refers to it as OPM ... Other People's Money ... Why use your own when you can use OPM ?
 
Because if you use OPM you can wind up paying up to 20% interest greatly increasing your cost for the project. For the Mezanine portion of borrowed money, a developer can pay up to 20% PA.
Deposit money on units is held in escrow and not available to the developer.
 
Mattrx,

When you can use the deposit money from people buying in the building ...
Click to expand...

An independant third party holds onto all deposits until the unit owner takes posession of the condo and the deal is closed. This is one incentive to builders and developers to move through the construction stages quickly soas to gain access to these funds and repay construction loans quickly rather than let the interest payments grow.
 
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