Vaughan RioCan Colossus Centre Redevelopment | ?m | 55s | RioCan | Hariri Pontarini

Box offices are tanking and I feel there won't be a replacement in Vaughan. They closed a theatre in Brampton to become a Playdium and the remaining SilverCity is one of the most crowded in the GTA.
Ethnic films out of Bollywood have been countering the drop in hollywood.

Yonge & Empress is a GTA example of a theatre built below highrises and commercial real estate that would be nice. They might feel Richmond Hill is close enough to pickup demand from Vaughan.
 
FullMetalEngineer said:
Box offices are tanking and I feel there won't be a replacement in Vaughan. They closed a theatre in Brampton to become a Playdium and the remaining SilverCity is one of the most crowded in the GTA.
Ethnic films out of Bollywood have been countering the drop in hollywood.

Yonge & Empress is a GTA example of a theatre built below highrises and commercial real estate that would be nice. They might feel Richmond Hill is close enough to pickup demand from Vaughan.
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I don't want to tangent the thread much here, but I have to drop in to say Cineplex is such a poorly run company, they can't even turn a solid profit on a near monopoly.

This is because their business model makes no sense, they've tried to max $ per customer ignoring all the empty seats making zero dollars.

Its pricing structure, product (partly Hollywood's fault, but far from the whole story), and venue design.

If I had the $$ at this point I wouldn't buy them out, I'd just start a new chain......they've so damaged the business model.
 
ProjectEnd said:
I get that, but unless you're just zoning and borrowing against the increased value of the property (I don't even know if the rules around REITs allow this strategy), you still need purchasers...
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They'll probably try to sell it, starting with the 20-30 storey blocks first. Ultimately someone did manage to sell that type of product across the street already..

It's going to be a marginal product with a tougher path to completion than SmartCentres or Toromont of Quadreal's plans.. but RioCan can probably line up approvals here and pick away at redevelopment over a span of decades.
 
Northern Light said:
I don't want to tangent the thread much here, but I have to drop in to say Cineplex is such a poorly run company, they can't even turn a solid profit on a near monopoly.

This is because their business model makes no sense, they've tried to max $ per customer ignoring all the empty seats making zero dollars.

Its pricing structure, product (partly Hollywood's fault, but far from the whole story), and venue design.

If I had the $$ at this point I wouldn't buy them out, I'd just start a new chain......they've so damaged the business model.
Click to expand...

Hollywood needs to get over the $150 million plus blockbuster sequels. Than you can start your chain.
 
innsertnamehere said:
They'll probably try to sell it, starting with the 20-30 storey blocks first. Ultimately someone did manage to sell that type of product across the street already..

It's going to be a marginal product with a tougher path to completion than SmartCentres or Toromont of Quadreal's plans.. but RioCan can probably line up approvals here and pick away at redevelopment over a span of decades.
Click to expand...

I don't get it either and I don't think all these 40 plus storey towers with 10 or more units per floor is a competitive long term housing option for the region but, suburbia seems to be capturing whatever buyers still exist and at the expense of downtown Toronto. I doubt this market will last long enough for full build out of the VMC master plan. Everyone should be able to get one, two or, three phases started in the meantime.
 
ProjectEnd said:
I do not get the audience for this. Who wants to be in a 55 storey tower in a car-dependent vertical subdivision on the wrong side of the 400?
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But you know the answer. It's not about wanting to live here, there, anywhere. It's about investors renting out units to desperate renters of whom the feds brought too many in service of infinite corporate greed.
 
70% of preconstruction condos end up as investor owned rentals. The source for this stat is Shaun Hildebrand quoted in the Star a few years back. The point is, this proposal makes perfect sense if you've been following matters over the last few years.
edit to add: by last few years, I mean the overheated housing market from the early to mid 2010s.
 
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So unless this is unique to this proposal, I'm not sure what the point is here...as it is happening all over in the claim.
 
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