Canadian Chocho
Active Member
I believe it's in the works. I think this could be thought of as the PLANNING aspect in Urban Planning.
Unload it to TCHC then. Privately built affordable housing scares me. Fuglies.
Not sure if TCHC want to build high-rise RGI housing anymore though.
AoD
Probably not, considering the current dearth of funds for repairs. Mixed income is the way forward.
Building Design and Programming
Block 32 has a complex building design, with three entrance lobbies, that has proven to be difficult to manage. The sheer size of the project, with 427 units, poses an additional property management challenge. For example, in Regent Park, new buildings are limited to a maximum of 200 units, with the majority of projects consisting of less than 150 units. Circulation within Block 32 is complicated, with skip-hop elevator stops on every second floor of the podium buildings. As well, the organization of the units results in long hallways, something avoided in TCH’s newer project designs. The building has received many accolades for its beautiful design; however, as a result of the complex design, there are areas of the building that seem labyrinthine and that may pose security challenges in the long term. For future developments, it is advised that projects have a simpler design with a single entrance for controlled access, a more manageable number of units (e.g. 100-200 units) and more easily navigable circulation
Fingers crossed that this is the start of a new co-op.
CREIT and Greenwin Inc. are partners on the second development, acquiring the 0.9-acre lot near Yonge and College streets on a 50-50 basis. The site is within walking distance to College TTC subway station, the University of Toronto, the hospital network and the downtown financial core.
“Development projects of this calibre are difficult to acquire,” said Rael Diamond, president and CEO of CREIT, in a separate release, “so we are very pleased to have the opportunity to add this project to our development pipeline.”
CREIT and Greenwin plan a two-tower, purpose-built rental development with approximately 700 units, 30 per cent of which will be affordable rental housing for a period of 40 years.
The purchase is expected to close in early 2019. CREIT says due diligence conditions have been satisfied and the agreement is subject only to severance and other standard closing conditions.