Toronto Time and Space Condos | 101.8m | 29s | Pemberton | Wallman Architects

Christopher Brown said:
I misspoke. To market and sell units to local and foreign buyers as defacto student housing, not to sell the project as one complex. The dense floor plan seems to suggest a cookie-cutter units of 400 sf per or slightly more. With George Brown around the corner.....it could evolve into Animal House North.
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What is interesting is that the Berczy - which has larger Units and a high price - sold well and was built very quickly after it was approved but the St Lawrence (154-158 Front) has now been marketed 3 times and has not yet broken ground - it has more small Units and is more like Time & Space. The St Lawrence area is clearly attractive to those wanting larger and better units so it is odd that the developers are not catering to that segment.
 
Vis-a-vis, The St. Lawrence, someone elsewhere suggested Castlepoint's reputation from L-Tower might be catching up with them, at least to those familiar with the local market. I pity those still suffering for 2 years in that tower. The stress would strip years off your life

Nothing wrong with the St. Lawrence location. Building seems ok. Must be something else.
 
DSC said:
What is interesting is that the Berczy - which has larger Units and a high price - sold well and was built very quickly after it was approved but the St Lawrence (154-158 Front) has now been marketed 3 times and has not yet broken ground - it has more small Units and is more like Time & Space. The St Lawrence area is clearly attractive to those wanting larger and better units so it is odd that the developers are not catering to that segment.
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St. Lawrence is unique because it was one of the few existing condo neighbourhoods pre-2010. There is a large supply of older buildings with MUCH larger floorplans. Why would you buy a tiny 400sf one-bedroom closet in this building when there are 800sf one-bedrooms for the same price in an older building across the street?
 
torontologist said:
St. Lawrence is unique because it was one of the few existing condo neighbourhoods pre-2010. There is a large supply of older buildings with MUCH larger floorplans. Why would you buy a tiny 400sf one-bedroom closet in this building when there are 800sf one-bedrooms for the same price in an older building across the street?
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a large supply ? I think there is maybe 3 larger units available in area = lack of supply
 
And you're posting the oldest version of the development proposal in relation to what?

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This morning.

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torontologist said:
St. Lawrence is unique because it was one of the few existing condo neighbourhoods pre-2010. There is a large supply of older buildings with MUCH larger floorplans. Why would you buy a tiny 400sf one-bedroom closet in this building when there are 800sf one-bedrooms for the same price in an older building across the street?
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Some of those buildings are great, but I can think of two big reasons:
1) The monthly maintenance fees in those older condos are prohibitively high compared to new condos.
2) Comically outdated finishes are unappealing to basically everyone.
 
grey said:
Some of those buildings are great, but I can think of two big reasons:
1) The monthly maintenance fees in those older condos are prohibitively high compared to new condos.
2) Comically outdated finishes are unappealing to basically everyone.
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New condos have a habit of under-budgeting maintenance fees. Future condo boards have the choice of raising those fees to cover current and expected costs, or keeping fees low, and living with the consequences down the road. A well-run older condo is probably worth it, despite higher fees. Important to make sure that the reserve fund is healthy and the board functional and competent.
 
innsertnamehere said:
I would rather have a place with finishes from the 1980s that is 800 square feet than one that is 400. Finishes can change. Your square footage can't. There is a lot more inherent value in that 800sq ft unit.
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Oh, for sure, if you're a buyer looking purely at square footage, then there's no contest.

ShonTron said:
New condos have a habit of under-budgeting maintenance fees. Future condo boards have the choice of raising those fees to cover current and expected costs, or keeping fees low, and living with the consequences down the road. A well-run older condo is probably worth it, despite higher fees. Important to make sure that the reserve fund is healthy and the board functional and competent.
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Totally agree, but my impression of older buildings in this area is that the fees are 2-3 times higher than what you'd see in a building constructed in the last decade or so. I may be way off here; it's been a while since I've looked at listings in New Town of York or Yorktown on the Park for instance.
 
The office isn't officially open but apparently all available units have been spoken for by brokers, even before OMB decision. Interesting how they can secure funding, sell units and yet no involvement from the general public. This funny money, according to TREB, has no impact on Toronto's real estate market.
 
Rufus8 said:
The office isn't officially open but apparently all available units have been spoken for by brokers, even before OMB decision. Interesting how they can secure funding, sell units and yet no involvement from the general public. This funny money, according to TREB, has no impact on Toronto's real estate market.
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What part of this money is funny?
 
Sales office looks like this, from just now...

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Rufus8 said:
The office isn't officially open but apparently all available units have been spoken for by brokers, even before OMB decision. Interesting how they can secure funding, sell units and yet no involvement from the general public. This funny money, according to TREB, has no impact on Toronto's real estate market.
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Overseas sales hit the market once again!
 
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