Amare
Senior Member
It can be argued that another form of a wasteland has been built by Concord all across what's known as CityPlace today.
But nevertheless, *if* built as currently proposed, this would be a shining beacon of sorts in that area.
- Thread starter raptor
- Start date
But nevertheless, *if* built as currently proposed, this would be a shining beacon of sorts in that area.
Dreambig1
New Member
I totally agree with other commenters on here. The splash of colour gives something different in a good way to the sea of the same old blushish grey buildings. I wanna see Toronto move away from that it's really depressing after a while.
artemperederii
Active Member
Just beg it’ll not turn out like this
UtakataNoAnnex
Superstar
^...that's still 10 million times better than most things around CityPlace though.
Northern Light
Superstar
paupah
Active Member
Dang, I like this one quite a lot.
Wish it was proposed 7 years ago instead so it actually gets built...
Wish it was proposed 7 years ago instead so it actually gets built...
Northern Light
Superstar
ProjectEnd
Superstar
TCHC, nor the City, nor the Province have the money or professional ability to build this.
HousingNowTO
Senior Member
Correct. Hard to see any way that this building design as proposed by Build Toronto / Toronto Community Housing gets funded via any of their usual methods (eg. CMHC, etc).
It is strange that 150 Queens Wharf is such an outlier (shape, floorplate, unit-sizes, etc), at the same time that Build Toronto / Toronto Community Housing proposed something much more deliverable at 405 SHERBOURNE -
They would have been better off to have the 405 SHERBOURNE team take-over this City Place site, and design something similar to help drive down overall costs on both projects.
Surely the expertise can be hired. I am left curious though regarding the financing of TCHC buildings... This is all being advanced with TCHC not having a capital budget for this or other projects, like 405 Sherbourne that @HousingNowTO mentions, or at Swansea Mews which isn't mentioned here (and where there's also no talk about the funding)? Is there not an intention to tap into CMHC's Apartment Construction Loan Program to get these things going? I'm seeing that I need a better understanding of the process here...
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ProjectEnd
Superstar
Not really, actually: there is no process! Hurrah!
UtakataNoAnnex
Superstar
...the Province wants to build a big arsed convention centre in the middle of the lake, so I find it bit dubious they can't find the funds for this. They don't have the money to fund either or there's no political will to fund this.
HousingNowTO
Senior Member
Assume that the Swansea Mews financing mix will be something like REGENT PARK, where they use the additional land available for market-rate development (eg. Daniels & Tridel) to generate funds that go into the TCHC contribution.
2026 Example - (271 units @ average $808-K per door) = "$219 million combined capital investment with $50.7 million from the City of Toronto, $86 million from the Government of Canada’s Affordable Housing Fund, and $82.5 million from Toronto Community Housing Corporation." - https://www.toronto.ca/news/city-of...round-on-271-affordable-homes-in-regent-park/
However, at City Place and Sherbourne -- the City & TCHC don't have any additional land to leverage on those sites beyond the proposed buildings, which is why there is no real firm commitment on how many of the new rental apartments on those sites will be either 'affordable / workforce rental' ($2-3 per sq foot / per month) -- or 'social housing / rent geared to income' (under $1 per sq foot / per month).
We are hoping that there will be much better per-deal transparency on these sites if they are able to get funded and proceed to construction.
Dreambig1
New Member
isaidso
Senior Member
What a difference one building can make. It could do with a little refinement at the base but a good start.