Toronto Ten York Street Condos | 224.02m | 65s | Tridel | Wallman Architects

kalvinone said:
Yes, in a perfect world, it shouldn't matter - however, there are good guys & bad guys, honest guys & corrupt guys in the world. The fact is, people make up the building and we all know that renters are less likely (though not implying all of them) to care about the condition in which they leave the place in. While not discriminating against those that who make up affordable housing - the stigma (probably because %age wise, there are more) is that they may care less. Sure - who cares if it's within the unit itself... however, you got common elements that gets shared.
Yes 12 out of 600+ units... maybe it won't matter... if one were to tell that to the purchasers in the beginning, could it have made a difference in their purchases? I'm pretty sure Tridel didn't mention it at all.
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Do you realistically think even 50% of the remaining 588 units will be owner-occupied? That Tridel has sold over 80% of these units to people willing to wait 5 years to live in them? 12 affordable housing units will hardly be the source of damage and deterioration you're stereotyping.
 
Downtown Toronto condo building set to include affordable rental units
An expensive condo building slated to start going up a year from now near the Air Canada Centre downtown will include a rare feature — some affordable rental units.

Ten York, a 62-storey tower with a four-storey podium set for completion near late 2016, is to have 694 condo units, 12 of which will be owned and managed as co-ops by the Co-op Housing Federation of Toronto.

One might say that, given the relatively small number of affordable units in play here, it’s no big deal. But Toronto condo developers have typically been loath to include any such units in their buildings, citing customer resistance.
More......http://www.thestar.com/news/gta/art...ilding-set-to-include-affordable-rental-units
 
I would be pissed off big time if I bought here only to find out later subsidized housing was offered. Why should I spend over half a million on a condo, and someone with very little income gets to live here for peanuts? If you have very little money why would your housing expectation be a high end condo with a prime lake view?
 
I have a strong feeling the subsidized will be housed on the first residential floor of the building, hardly prime lake views. (More like views of the gardiner)
 
WATERCONDOS said:
I would be pissed off big time if I bought here only to find out later subsidized housing was offered. Why should I spend over half a million on a condo, and someone with very little income gets to live here for peanuts? If you have very little money why would your housing expectation be a high end condo with a prime lake view?
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Me too. I'd be super duper pissed!!
 
I'm sorry, but when less than 2% of the buildings units are affordable housing, it is such a small number you won't even notice it. I might complain if half of the building was affordable housing and I was paying full price, but 2%, presumably on their own floor so you won't even be neighbours with them, is so small You won't even notice them. you will be lucky to see the residents once or twice a year with over 650 condo owners running in and out of the lobby.
 
Ten York is an excellent example of how to add to the affordable housing stock in Toronto. I think a small percentage of units in every building going forward would be a brilliant way to spread people out and if the market determined too many "I'm better than you are because I make more money" type buyers, a separate entrance with two elevators for the rental units could be incorporated. By the way, people of all income levels live in co-operatives and they are sensational communities.
 
Separate entrances seem like a huge hassle to create/implement, simply to distinguish something that shouldn't be an issue in the first place.


But then again, there are and always will be such things as VIP/exclusive access to most things.
 
Ryan_T said:
Separate entrances seem like a huge hassle to create/implement, simply to distinguish something that shouldn't be an issue in the first place.


But then again, there are and always will be such things as VIP/exclusive access to most things.
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Maybe they won't have access to the amenities in the building. Spa, movie room, pool. I don't think they are going to pay full maintenance fees.
 
I really only suggest that if a trend like this could continue to be implemented by forward thinking Councillors and Planners in new projects, and if in sales people are really put-off by having to share part of the building (which they don't own, they only own the interior of their suite) with a rental pool or a co-operative, a separate wing off the lobby with two elevators to serve the rental/co-op floors could be a pretty simple option.
 
I have nothing against sharing a building with anyone, but what is the grand plan for encouraging this sort of mix? Is it diversity for community's sake? I'm not sure this is the best way to do it. Mixed or not, nobody will talk to anybody anyway. Not because they don't want to, but how often do you find yourself chatting with people on the elevator?
 
the problem with these affordable units in the expensive buildings is perceived fairness. Let's say a unit at 10 York has a market price of $400k, and a low income family making $18K is allowed to purchase and live in it. What about a family that makes $35K or 40K? They are not "low income", but there is no way they can afford living at 10 York?

What do say: you are too poor to live here, but you are too rich to live here too? Makes no sense to me at least.:confused:

The only solution is to offer only those least desirable units (for example those directly facing the Gardner, or with the awkward floor plans) as the affordable units so that people with low to mid income don't even find them attractive.

What about maintenance fee? You can subsidize them on the purchase price, but you can't force other buyers to subsidize them on the building maintenance as well, can you? Unless of course the government keeps subsidize them forever.
 
In the US there are sometimes up to 20% affordable housing in a condo. This will become the new normal in Toronto. Get used to it; get over it.
 
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