Toronto Massey Tower Condos | 206.95m | 60s | MOD Developments | Hariri Pontarini

johnwood said:
the twin towers were made with steel and look what happened to them. the heat of the fire melted the medal and down went the towers. ;)
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I wouldn't consider myself overly sensitive and I still question how you could put a smiley face of any kind with a sentence like that....
 
We've actually purchased a condo here. Anyone who seriously thinks that any of this has little to do with greed is living in a different world. Capitalism by definition is based on greed, when it comes to markets, greed becomes a virtue and is hence institutionalized. Almost all these heritage restorations and seemingly goodwill gestures are generally undertaken to maximize profit in the end, it is done to pump demand or simply increase brand value, they teach you this kind of stuff in introductory marketing classes. If there actually is a capitalist who is to truly willing sacrifice profit in order to undertake such gestures, well, then his actions are simple in contradiction with his actual institutional role, which is to maximize profit before any thing else. It does happen time to time, but its quite rare.
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We live in a capitalist society so what's the problem with making money? People are not being forced to buy here. They can live elsewhere if they think its not worth it. People throw around the word "greed" like they are doing something bad. They are putting up a building and charging what they can for it. That's how our economy works. MOD could make the same or more in a much quicker time frame elsewhere rather than on a complicated site like this. But they have a city building passion and they want to build something cool here. And yes make money doing so at the same time. Nothing wrong with that. Last I looked we don't live in a communist society do we?
 
There are some very fascinating and informed discussions happening here!
I am a condo dweller myself and am definitely getting continuously disheartened by the tiny sizes of units in the city.
But, I suppose the flip side of it is, Toronto is becoming more and more unattainable for home ownership. So, smaller and smaller units give first time home buyers and young professionals a chance to get into the market within their means. And considering the location of the Massey Tower, I would assume it's primary target is young professionals (whether for buying or renting).
Sure, you could buy two units and knock out the walls, but in the end you'd be the biggest unit in the building, and in a building that's geared towards people who can't afford to buy your unit, which harms your position when you want to sell it later.
If they are selling, the demand is there. It's as simple as that.
That doesn't mean it's everyone's cup of tea. I'm not sure it would be mine. But that's why I bought into an older building. Sacrificing the new slick features and amenities for more space.
 
" Last I looked we don't live in a communist society do we? "
QUOTE: Edward Skira.

There are some however, (not I) who would enjoy to Change that.


Regards,
J T
 
J T CUNNINGHAM said:
" Last I looked we don't live in a communist society do we? "
QUOTE: Edward Skira.

There are some however, (not I) who would enjoy to Change that.


Regards,
J T
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JT, by that "Change" are you referring to Change.org or something?

Communism seems nice on paper, obviously kinda fails in real world application, but I think this debate was settled decades ago.
And Ed, we live in a socialist democratic society I think, but yes our markets are based on the concept of the free market, and agreed when it comes to condos, you buy what you can afford....although you could argue right now with current interest rates, most consumers are not following that logic and no doubt there will be reprecussions in the future. That said, its a bit concerning the way some worship the free market so viciously, when it appears the completely free market (and greed at its underpinnings) so often results in disaster economically for most. ....Sorry for going off topic, I blame my ADHD.

On another note, I heard this tower was supposed to start this fall, does anyone know if its been pushed back? Spring start instead? I am really looking forward to this one, although I kinda wish the back of it (on victoria I think) could have bee similar to the front, whcih I think has some great treatment of the balconies. Def in my top 10 buildings that I am looking forward to seeing completed.
 
Just like any business, developers make money in what they do. Yes, it may seem greedy especially with the real estate boom we have been experiencing these past few years, but what they are doing is perfectly legal and any smart business person will exploit this situation as much as they can to their advantage.
Some developers may be known for poor design, lackluster quality, massively large/tall buildings, large proportion of tiny/investor units etc., but they still sell and it gets built.

There are no laws against morals and social responsibility so some many may be cutting corners and design may be compromised, but housing is still in huge demand and we have a very antiquated condo regulations so it works in the developer’s and investor’s favour.

Mod was extremely lucky that they launched this project at the height of the market and is located across the street from Eaton Centre and steps away from a subway station, so investors quickly bought it up in droves. Unfortunately these investors don’t care about the details of the building and how crappy many of the units were designed (bedrooms not designed to properly to house a bed, etc.). Once this building is built and occupied we will really see how successful or dysfunctional this, and other big high rise condos, will fare.
 
metroTO said:
Just like any business, developers make money in what they do. Yes, it may seem greedy especially with the real estate boom we have been experiencing these past few years, but what they are doing is perfectly legal and any smart business person will exploit this situation as much as they can to their advantage.
Some developers may be known for poor design, lackluster quality, massively large/tall buildings, large proportion of tiny/investor units etc., but they still sell and it gets built.

There are no laws against morals and social responsibility so some many may be cutting corners and design may be compromised, but housing is still in huge demand and we have a very antiquated condo regulations so it works in the developer’s and investor’s favour.

Mod was extremely lucky that they launched this project at the height of the market and is located across the street from Eaton Centre and steps away from a subway station, so investors quickly bought it up in droves. Unfortunately these investors don’t care about the details of the building and how crappy many of the units were designed (bedrooms not designed to properly to house a bed, etc.). Once this building is built and occupied we will really see how successful or dysfunctional this, and other big high rise condos, will fare.
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My guess is that it will become heavily populated by students, given its proximity to Ryerson and convenient access to UofT - and they won't care about layouts. Burano has met a similar fate.
 
Big Daddy said:
Maybe, but I don't think many of the people who bought here are planning to live here. This will be nothing more than an apartment building. People likely won't want to live here long term so it will become a transient building. Not great for investors long term.

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My point is, they could have reduced the number of units and made this building livable - but developer greed has taken over.
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Meh, I'd say many of these newer condos are glorified dorms with the largest units being no more than 750 sqft. I don't know how much of it is greed and how much is builders creating smaller units in order to make them more affordable. I don't see anything wrong with it, but the soundproofing needs to be better. It's shit right now.
 
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