Toronto Yonge Sheppard Centre Renovations and Expansion | 123.13m | 35s | RioCan | BDP Quadrangle

Amnesiajune;
Current rates at Forest Laneway are $1465. for 1 bedroom, $1800. for 2 bdrm., $2300. for 3 bdrm. I don't know what the market is like in North York for condo rentals (which have various perks) or similar high rise rental units. You say "Forest Laneway rents are really good for the area." Do you have any rent numbers for comparison so we'll know if the town-homes are good value or not?
 
constructo said:
Current rates at Forest Laneway are $1465. for 1 bedroom, $1800. for 2 bdrm., $2300. for 3 bdrm. I don't know what the market is like in North York for condo rentals (which have various perks) or similar high rise rental units. You say "Forest Laneway rents are really good for the area." Do you have any rent numbers for comparison so we'll know if the town-homes are good value or not?
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The apartments in the Yonge Eglinton Centre are older, smaller and $400/month more expensive. The rental building up at 151 Beecroft (behind the Madison Centre) is about $200/month more expensive. Condo rentals are $1500-2000 for one bedroom, $2000-2600 for two bedrooms, and $2600+ for three bedrooms
 
I don't know for sure what this means, but we can have some fun speculating. On the current site plan:

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They've also started showing the 10,000 sqft. third floor space with a terrace, beside the Longo's store, as Retail rather than Restaurant, and a 4,000 sqft space on the bottom floor is being shown as "TBD".
 

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amnesiajune said:
They've also started showing the 10,000 sqft. third floor space with a terrace, beside the Longo's store, as Retail rather than Restaurant...
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Hmmm...interesting. I'm putting my money on LCBO skipping over here from Emerald Park. It might not be in this spot, but I can't imagine they are happy with the situation at Emerald. At least at Sheppard Center they'd have a chance to actually OPEN.

I'm not seeing the updated detailed site plan at the RioCan site -- do you have a link? Thanks.
 
NorthYorkEd said:
Hmmm...interesting. I'm putting my money on LCBO skipping over here from Emerald Park. It might not be in this spot, but I can't imagine they are happy with the situation at Emerald. At least at Sheppard Center they'd have a chance to actually OPEN.
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I don't really understand any reason why they can't open at Emerald Park. I think they just don't want to open until the situation with Metro is figured out. As was pointed out in the EP thread, Metro sold off the space and some random other company owns the LCBO's unit now. I could see it happening though, since the now-retail unit is about the same size as the LCBO's EP unit and is right next to Longo's.
 
amnesiajune said:
I don't really understand any reason why they can't open at Emerald Park. I think they just don't want to open until the situation with Metro is figured out. As was pointed out in the EP thread, Metro sold off the space and some random other company owns the LCBO's unit now.
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As I pointed out on EmeraldPark thread recently,.... Metro technically owns entire second floor, LCBO is/(was) Metro's tenant.

From the latest development changes (negotiations), RioCan has been "crying poor" to the City! RioCan has been having a difficult time leasing out retail space at Yonge-Sheppard Centre due to lack of quality tenants. During construction, long time Sheppard Centre tenants like Payless Shoes, Reitmans (SmartSet) and RadioShack went through bankruptcy or major restructuring,.... middle ground retailers are dying breed due to online shopping and few are expanding into new retail space. Most of the committed retail space are food oriented businesses,... it's quickly getting to the point where Yonge-Sheppard Centre will become a giant food court-food mall!

RioCan Yonge-Sheppard Centre is charging high rent, but that'll likely become much more negotiable as we get closer and closer to mall re-opening.

BTW, the new Ren's Pet Store committed to Yonge-Sheppard Centre's Sheppard frontage is interesting,... in that RioCan's EmpressWalk has PetSmart under renovation (next to LCBO store). That'll be 2 pet stores in the area. That last time there was even one pet store in the area was about 25 years ago when PJ's Pets was on Yonge south of Bogert (EmeraldPark site).
 
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sunnyraytoronto said:
The current city's tax rolls shows Metro owns the entire second floor of EmeraldPark, which Metro been trying to sell/lease out/dump for the last 2.5 years already,.... AmnesiaJune, do your own homework.
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You already did this homework...

sunnyraytoronto said:
All EmeraldPark West Tower residential-condos are assigned 11 Bogert Ave, all East-Tower residential-condos are assigned 9 Bogert Ave, all first floor retail-condo and third floor office-condo are assigned 4750 Yonge Street,.... but the 2nd floor retail is assigned 22 Poyntz Ave. A recent search on 22 Poyntz Ave returns 2 active file with 2016 tax assessments,... thus, the Metro 2nd floor real estate transaction at EmeraldPark finally did close in 2016 since there's no 2015 tax assessments attached to these files. Since the 2nd floor (22 Poyntz Ave) only has 2 retail units (supermarket & LCBO) I expected two files both under Metro since Metro WAS supposed to be the landlord for both units,... instead I found:
- Metro Ontario Real Estate Ltd with 2016 tax assessment value of $2.694million.
- WonMak Inc with 2016 tax assessment value of $1.1718million
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sunnyraytoronto said:
Here, LCBO (tenant) originally dealt with Metro (2nd floor landlord), then LCBO furnished the retail space that was to become an LCBO store,.... but it seems Metro sold off that retail unit to WonMak Inc. (new retail space owner/landlord).
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sunnyraytoronto said:
Since Metro has no intentions of opening a Metro supermarket at EmeraldPark, Metro's options are to rent/lease it out or sell it - as they seem to have already done with the LCBO retail unit to WonMax Inc.
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amnesiajune said:
You already did this homework...
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Wow,.... you're quoting my homework from last year???? Like companies buy and hold forever,..... and no other transaction can ever takes place,.... check the current land registry,.... Metro owns entire 2nd floor of EmeraldPark. As 2 units registry or 1 depends on Metro's strategy and intention,.... so think about it, as 1 likely means LCBO is,.... hmmm,....
 
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sunnyraytoronto said:
Like companies buy and hold forever,..... and no other transaction can ever takes place,....
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So Metro sold a third of their floor to some unaffiliated company, and now they bought back that third of their floor? Why would they do this if, as you say, they have no plan to actually build the store?
 
amnesiajune said:
So Metro sold a third of their floor to some unaffiliated company, and now they bought back that third of their floor? Why would they do this if, as you say, they have no plan to actually build the store?
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AmnesiaJune, it is what it is,... and that craziness belongs on the crazy Bazis EmeraldPark thread,... this is Yonge-Sheppard Centre thread,....
 
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