Toronto Minto Yorkville Park Condos | 75.89m | 25s | Minto Group | IBI Group

[Mike in TO]

Minto has submitted a site plan approval application and rezoning application for a new mixed use commercial/residential building containing 105 residential suites in a 26 storey building. (3 storeis of retail and 23 stories of residential). The building is planned to include 79 parking spaces in 5 levels below grade parking.

 

[deerparker]

Urbandb lists that as the bldg with Lettieri on the corner. Is it going to be demolished?

 

[androiduk]

That's a drag, I go to that Lettieri almost every morning. It's also the busiest Lettieri in the city.

 

[taal]

Hopefully they reject this flat out ............

I'm sick of office buildings getting replaced with residential ones.

 

[urbandreamer]

I hope it goes ahead, but why not go taller here? 40s? Since Minto owns that rental building they put up next door I guess they're thinking no posh renters will be upset with lost views.

That office building is ancient, and probably has tons of vacancies. Time to implode. (Just as I predicted in the 4$ thread, all those 10s or so office buildings in the area are doomed....)

 

[taal]

I hope it goes ahead, but why not go taller here? 40s? Since Minto owns that rental building they put up next door I guess they're thinking no posh renters will be upset with lost views.

That office building is ancient, and probably has tons of vacancies. Time to implode. (Just as I predicted in the 4$ thread, all those 10s or so office buildings in the area are doomed....)

Not really, only 20% is available

And I recall recently it was nearly 100% full

http://www.realinsite.com/index.php?page=searchengine&building_name=94+Cumberland&searchbyabldgbtn=Find+Buildings

The point is the space can renovated - or it can stay as is - we're replacing it with 0 office component whatsoever ...

 

[androiduk]

Notices have been sent out to all tenants regarding the application to build here. Most of the building is rented but predominately to short term tenants. Ground floor retail tenants Lettieri and Kumari are long timers with long leases.

 

[Automation Gallery]

. Ground floor retail tenants Lettieri and Kumari are long timers with long leases.

I guess if they can afford to build in that Yorkville area, they should be able to afford to buy out these long leases.

 

[gabe]

I would hate to see that Lettieri go.

 

[androiduk]

^^ I was wondering about that. When a lease is bought out what is the basis for the calculation of the payout. Lets say someone was paying $10,000 a month in rent and they had 5 years left on their lease, does anyone have an idea as to how much the payout would be.

 

[Filip]

This project will go a long way revitilazing a currently drab streetfront. I'll miss Lettieri though, it's a wonderful place.

3 storeys of retail will go a long way in energizing this stretch of Cumberland and Belair, in fact, it's borrowing from the successful 60s-70s planning in Yorkville that had 3 retail storeys. Underground, Ground level and 2nd floor.

 

[fouronesix]

This project will go a long way revitilazing a currently drab streetfront. I'll miss Lettieri though, it's a wonderful place.

3 storeys of retail will go a long way in energizing this stretch of Cumberland and Belair, in fact, it's borrowing from the successful 60s-70s planning in Yorkville that had 3 retail storeys. Underground, Ground level and 2nd floor.

Ahh yes, much like the successful Cumberland Terraces. Nothing like a mini-mall to energize the street. And what does that even mean? Does the 'energy' of Yorkville not cross from the west to east side of Bellair?

 

[Automation Gallery]

^^ I was wondering about that. When a lease is bought out what is the basis for the calculation of the payout. Lets say someone was paying $10,000 a month in rent and they had 5 years left on their lease, does anyone have an idea as to how much the payout would be.

I would assume its 5 years/60 months times $10.000.. buy out would be $600.000

 

[adma]

Think of it this way: it wouldn't be the only case on the block of a humdrum 50s/60s-type spec office building replaced by something newfangled--it happened twice on Bay in the past decade...

 

[buildup]

Very congested spot to roll cement trucks through.