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Uptown & Crystal Blue

You pick 'em: (see post #24)


  • Total voters
    9
  • Poll closed .
B

buildup

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Uptown & Crystal Blue

Does anyone know what the sales figures are for these two serious infill projects are, and possible start dates?
 
I hear that Crystal blu has been selling well! I think it is over 60% sold. Uptown i hear is only about 45% sold.
 
Start Dates

I've heard Cyrstal Blu may start in late January. Uptown has not been selling well. The price points for what is being offered aren't very good compared to other product in the area.
 
Re: Start Dates

I hope things improve- they've been hawking the uptown proposal for several years now.
 
Re: Start Dates

Uptown has a great site... if Uptown fails another developer will be successful with a different project in that location. With Telus, Bay Adelaide and RBC downtown it would be great to see Toronto's next major office tower in the Yonge and Bloor area - a new 1BE proposal would be the perfect location or even the uptown site could work.
 
Re: Start Dates

So what would become of those 45% of buyers should the project go tits-uptown?
 
Re: Start Dates

Buy a squegee and set up tent under the gartner :smokin
 
Re: Start Dates

Those purchasers would have their deposits that sit in a third party trust returned.

The project still may go ahead, but the developer made some mistakes along the way in terms of the interiors and the price points. The marketing campaign was also altered six months into the project which clearly demonstrates that there were difficulties right out of the starting gate.

Having a stong competitor set up shop next door and offer a better product at the more competitive price doesn't help much either.
 
Re: Start Dates

I hope it fails. The last thing Toronto needs is a giant 50 story precast pemberton disaster.

Hopefully something better will come around for such a prime location.
 
Re: Start Dates

Pemberton never should have considered starting a building with a "U" name. It's clearly a jinx for them.
 
Re: Start Dates

I wouldn't write off the Uptown yet....Pemberton have shown that they can be very patient...they have sold a lot of units and this is a very large building....only problem is, are we at the end of the real estate cycle?
 
for a minute I thought they had combined

The two projects bother me, only in that they are so close together and are of such different styles. It is going to be a weird block with the contemporary Blu sandwiched in between the ugly UofT residences and the pastiche Uptown.

Does anyone understand the complexities of why developers don't partner up more on stuff like this? Combine properties, and do a mega project. I mean would you buy in the Uptown facing south if you were going to look right into the window of some other unit at Blu? Likewise for units in Blu facing North. It can't be an approvals thing, I mean M5V is selling and they don't even have approvals or a date at the OMB.

Another example is those two under construction on Wellington near John, one is a hotel I think. I mean why didn't they combine, build a point tower and have it be mixed use? Hotel on the bottom, condos on top. I'm sure the city would prefer that. All these walls of precast along property lines, it is just so ugly.
 
Re: for a minute I thought they had combined

The two projects bother me, only in that they are so close together and are of such different styles.

The same architect did both projects - so some of the setbacks are located at the exact same height. So despite the fact that they are different styles the two buildings will 'speak' to each other in some respects if built.

Avenue4, I'll have to respectfully disagree with you on the 'mega-project' issue. That creates banility and seems more suburban. I think the city is better served when developers put together smaller infill projects on small properties to create a variety of styles and built form.

Larger properties that are 'master planned' have had mixed results. The most vibrant areas of the city seem to be those with an eclectic mix of uses and property owners.

Also in your example the Uptown/Crystal Blue site, well the properties that are currently one parking lot were originally two seperate properties. The second property where Crystal Blu is located was not available for the Pemberton Group to purchase when they started down the road to the Uptown project - so despite the fact that it may 'appear' to be easy to combine the properties today, the reality is that there is a couple year difference in terms of the property acquisition, demolition of old structures, planning and marketing of the two projects.

Land development is a complex process with a variety of business interests, owners and the timing is crucial in the advanced stages of planning that often occurs years before shovels hit the ground.

I don't really see any reason why the Pemberton Group or Bazis International would benefit from the combination of two very different projects. Nor any reason why the future residents of the towers or a reason why the city would benefit (the city would likely receive less benefit from one project).
 
Re: for a minute I thought they had combined

Agreed Mike. My only wish is that they wouldn't put two point towers so close together. Two midrises abutting each other would have created a nicer street wall. That's my biggest complaint with City Place. Meanwile I like the way the two different buildings on Wellington are working next to each other.
 
Re: for a minute I thought they had combined

I was at the Blu condo sales office last weekend at around 6 PM and there were quite a few people in and outside- not sure what that means, but there seems to be more weight and interest behind Blu than the Uptown.

p5
 

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