HelloToday
Active Member
I like it. It's been occupied since May and a lot of the floorplans are laid out well.
arvelomcquaig
Active Member
Ughh. Once again, I wonder how many banks can exist downtown before ridiculous saturation? Will every single condominium have a bank at the bottom?
We really need the law that I heard has been implemented in NYC that restricts bank outlets to the second floor of buildings, so that the street level presence of all new buildings isn't sterilized by banks.
Hipster Duck
Senior Member
That's actually a really interesting policy. For some reason, Toronto's sterile condo retail climate is a bit of an anomaly. I wonder why? Glen's high commercial property tax explanation probably has something to do with it but in Vancouver - which has very high commercial property taxes and rents (and very low residential property taxes) - the base of condos seem to have a much better representation of "interesting" retail: independent clothing stores, restaurants, grocery stores, even pubs.
In some cities, I'm downright amazed by what kind of retail can go into the base of a newly-built condo. Portland, OR impressed the hell out of me on this front. They practically had Kensington market-style retail at the base of newly-opened modernist midrise condos.
taal
Senior Member
Quite simple ... there just isn't as much demand in most cities for what we consider unexciting retail ... i.e. the likes of shoppers and banks ... the residential density is just that much higher, and such places have the deep pockets.
I also completely disagree with the notion anyway ... take King East, the good amount of retail in that stretch has come from new condos build over the last 15 years ... sure you may not like the type of retail, but there are plenty of non-chain design furniture / household stores. How about Yorkville, most of the condos built in the area have retail fitting of the area ...
Really, Toronto doesn't build many condos on the most popular streets (section predominant with retail), rather, around them ! I think that's the heart of it. How many condos are directly on Queen W, Collete W, Kenginton Market, Spadina, Bloor W, Bloor E ... VERY FEW ! King West ? Sure there are condos and many have retail, retail that fits the area ...
I also completely disagree with the notion anyway ... take King East, the good amount of retail in that stretch has come from new condos build over the last 15 years ... sure you may not like the type of retail, but there are plenty of non-chain design furniture / household stores. How about Yorkville, most of the condos built in the area have retail fitting of the area ...
Really, Toronto doesn't build many condos on the most popular streets (section predominant with retail), rather, around them ! I think that's the heart of it. How many condos are directly on Queen W, Collete W, Kenginton Market, Spadina, Bloor W, Bloor E ... VERY FEW ! King West ? Sure there are condos and many have retail, retail that fits the area ...
maestro
Senior Member
Retail condos are usually sold off as one block to one of a select few retail focus REITs who would consider a small independant or restaurant a higher risk which is why the live/work developed along the waterfront may prove far more interesting in the long run.
LowPolygon
Senior Member
but WHY are there so many bank branches? i can't figure out what the business case is for the big banks. Starbucks, Subway etc. i get. it sucks but i get it. all these bank branches i don't get. how are they 'profitable'? it's not like they are selling a product....
arvelomcquaig
Active Member
Me either! How often do people go inside their banks? Maybe I'm weird (and financially immature), but I only ever use my bank’s ATMs. How are these banks profiting so much from opening endless bank outlets that they're the only ones who seem to be able to afford the rent? What's happening in there that's making so much money with each new spot? I realize banks are really profitable, but why is each new outlet?
AlbertC
Superstar
Blah, another sterile bank. Lame but unsurprising. Would have been a great spot for a restaurant on that larger corner unit.
maestro
Senior Member
Dozens of branches were closed in the 1980s and 1990s. Couldn't this simply be technology allow banks to reopen what has been closed? Automation has allowed for minimal retail staffing cutting overhead costs however, there still has to a person to confirm every transaction. Services provided by these locations have been expanded as well. Perhaps the heightened security concerns at corporate office locations has lead to the decentralization aside from just improving customer convenience. Competitors clustering is a popular trend that likely leads to unnecessary locations too.
Torontovibe
Senior Member
A bank & nail salon is so depressing, especially in such a busy area. Christ, there are Royal banks just a few minutes away in every direction. (including a new one going into Aura, just a few short blocks away) The Royal is my bank and it is not needed here at all.
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MafaldaBoy
Senior Member
July 22 2013:
rdaner
Senior Member
Public art has been installed along the walkway running between the sidewalk on Bay Street to the courtyard and Elizabeth Street.
dt_toronto_geek
Superstar
Art should not be hidden in an obscure (and lazily designed) laneway. Any bets on how long it takes these to be damaged or defaced?
WeirdFishes
Active Member
I disagree, I think it's a great idea. Reminds me of some of the "hidden" Banksy pieces and adds another layer to our city. Looking forward to seeing a garden added between the sculptures.
LowPolygon
Senior Member
looks like it could be an Eldon Garnet...
if it is: wow, does he ever get a lot of work out of the Public Art program.