Tesla said:
The creditors are the biggest fools in the entire fiasco. Fools or complicit in a scam, take your pick.
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Why does it bother you and some other posters so much if the developer or the creditors lose money? it seems that none of the posters that are posting these comments have any skin on the line. I think it's best that this part of the conversation moves to the Real Estate section and let the other posters that enjoy watching this building go up keep enjoying it without all of this negativity.
 
Tesla said:
The creditors are the biggest fools in the entire fiasco. Fools or complicit in a scam, take your pick.
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Ok we get it. Sam isn't the only one to have a bad week.

Tesla-stock.jpg


https://www.barrons.com/articles/tesla-stock-next-7b1c1c04
 
The constant speculating about what's going to happen to this building or Mizrahi is getting boring. I don't care if Mizrahi gets arrested and spends decades in jail, I don't care if this gets sold to another developer or whatever. None of it matters cause none of it has happened. And particularly when it comes to Mizrahi, I don't give a fig about him.

Once again, let's hope this building gets finished whether by Mizrahi or another developer. Having a forty storey unfinished tower at the corner of Y&B would not be good. Everything else is just noise.

So, please, share construction pics.
 
DSC said:
I doubt any of us want that - we have seen it here before with the Bay-Adelaide Stump. See: https://www.blogto.com/city/2014/04/the_story_of_the_bay-adelaide_centre_stump/
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Oh yes, I remembered that the unfinished six storey concrete for 15 years. I often walked or biked around that area. Even the two crane sat for a long time then removed. I liked that kind of that tall pointed spire roof in the modern time. Oh well. Also, we did not see any new office buildings for more than a decade. Now I am glad that you understand my comment previously. Thank you for asking me :)
 
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So judging by the fact that the last pictures I saw had sections of tower crane looks like they are getting ready to raise the level of the crane in the next couple days

Also hypothetically thinking but what is the floor of the next mechanical section? And would it be possible that they could just convert that over to the clear story and then end the building at that height? Probably not what will happen but would be an interesting way out for the developer's and parties involved if the higher floor units aren't sold anyways
 
thaivic said:
Why does it bother you and some other posters so much if the developer or the creditors lose money? it seems that none of the posters that are posting these comments have any skin on the line. I think it’s best that this part of the conversation moves to the Real Estate section and let the other posters that enjoy watching this building go up keep enjoying it without all of this negativity.
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Sure, go on admiring the fine craftsmanship and marvel at the engineering of the Titantic after you’ve hit the iceberg and are taking on water. Hope you know how to swim for 2 days in the icy North Atlantic.

When rookie developers pull what very likely appears to be massive financial scams like this one it taints the entire industry. Regulators, lenders, investors, governments etc become extra and over cautious when making decisions and as a result the entire industry gets tainted with the stench of a small number of bad actors and development in general gets stalled.

Anyone who touches the industry in any way is affected by the sort of financial fraud that appears to have taken place here. Again, this is my personal opinion and reading of the widely reported facts. I have no first hand knowledge of the situation but I do know that I’ve never seen or heard of numbers this outrageous anywhere in this city.
 
My only concern here is how profitable are those 6 additional unsold floors versus the cost of the accumulating interest with an additional 2 months construction to build them. The finance guys will be looking at that. As for topping off the tower as is, generally unless a design solution already exists, not very viable from a design, schedule, and a supply chain perspective.
 
Tesla said:
Sure, go on admiring the fine craftsmanship and marvel at the engineering of the Titantic after you’ve hit the iceberg and are taking on water. Hope you know how to swim for 2 days in the icy North Atlantic.

When rookie developers pull what very likely appears to be massive financial scams like this one it taints the entire industry. Regulators, lenders, investors, governments etc become extra and over cautious when making decisions and as a result the entire industry gets tainted with the stench of a small number of bad actors and development in general gets stalled.

Anyone who touches the industry in any way is affected by the sort of financial fraud that appears to have taken place here. Again, this is my personal opinion and reading of the widely reported facts. I have no first hand knowledge of the situation but I do know that I’ve never seen or heard of numbers this outrageous anywhere in this city.
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The key to this statement is in this city. Other projects throughout the world have had similar issues. This comes with the territory of doing construction. If there is a fraud case, the courts will sort it out. Are you a developer that is being directly affected by this or did you have a similar situation happen in a similar building? I'm wondering why it is that you're so invested in telling everyone that this is nothing but a front to scam people when it is obvious that the building is being built in front of us. Money was used to build this building. If it takes a loss, that means that somewhere somebody didn't do their math right and that person will face consequences. We still get to watch an amazing building go up
 
Collingwoodbuildinglover said:
The key to this statement is in this city. Other projects throughout the world have had similar issues. This comes with the territory of doing construction. If there is a fraud case, the courts will sort it out. Are you a developer that is being directly affected by this or did you have a similar situation happen in a similar building? I'm wondering why it is that you're so invested in telling everyone that this is nothing but a front to scam people when it is obvious that the building is being built in front of us. Money was used to build this building. If it takes a loss, that means that somewhere somebody didn't do their math right and that person will face consequences. We still get to watch an amazing building go up
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Of course this is not unique, developers go into bankruptcy often and the results differ. In some cases all work stops, in some cases the project is bought by another company and things continue (but details may differ). In some cases, like this one, there is enough money to keep on working but it is (so far anyway) not enough to finish the planned building. It is certainly good that work continues on The One, the question is 'will enough money be invested - by new investors - to finish it as planned?' We shall see.
 
I also think it is fun to speculate who could purchase this project if an agreement isn't worked out to keep the current developers funded, which given that they did not remove them immediately is possible like wouldn't it be funny if Pinnacle bought this project and now built the two tallest buildings in Toronto? Technically, even though the majority of the heavy lifting was done in the initial stages by the original contractors
 
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