This site at Peter & Richmond is now being planned as a hotel/condo development. Thirty stories - the lower eight will be condos, and the upper 22 will be hotel units. The days of Tonic and Pizzaville are numbered.

Funny you mention that - the city is mandating the developer (against their will) to build an office building at the site, adjacent to the condo.

Thank you. Vindication is sweet. Looks like I was bang-on about the Lehman connection. Not shocked that other financing was obtained! Must have been just recently (i.e. since Lehman went down three weeks ago).

Might not even be just a height change. A complete cancellation of the project is one option being considered.

I suspect the meeting may be to break the news to the public that the project will not be going ahead as planned. The financing for this building had been arranged through the (now-defunct) Lehman Brothers, and that has fallen apart, with no new financing in sight.

This decade? Actually, no ... I just spoke to someone who works at one of the three development companies, and he's anticipating Phase II occupancies to commence at the end of 2010 and run into the middle of 2011 (lower floors first, higher floors later). So for some of the purchasers high up...

Wow ... thanks for posting that. I honestly thought I'd never see the day. Now they better hurry because they have under six months to meet my original occupancy date!

Thanks for posting that. $300/sf sounds about right from my memory. unreal these 100% price gains are way more than the types of price gains that caused the US housing market to crash over the past three years. all they had was 30%-40% price gains. and yet somehow for some reason I feel...

Why is everyone so excited about them being at street level? Does nobody remember that they were supposed to have OCCUPANCY this summer? Hello ... that's not happening. So let's not all be impressed so easily.

Good point - I forgot to mention that the 400-sf units at Malibu were selling for a jaw-dropping $99,000 when they first started going on sale in late '03.

Well some of the suites currently are at 600, that's a fact, check the current price list. But if you have the original one, would be really cool to see, I so regret discarding mine back in late '05. Is there any way you could possibly scan yours and upload it here?

Yes way. They are occupying the lower floors (up to 8th floor I believe). It's still a mess there, obviously ... they're also trying to launch a new project at the same time, called LTD, which I don't understand why they didn't just call it Phase 2 of Malibu

That's right. The sales office for Malibu opened on the site there in August 2003 ... and the first occupancies are just this week, almost five years later. Brutal.

You're right, it's absolutely crawling. I think Phase 1 will be done at the time they're saying phase 2 will be done, April 2010. And as for Phase 2 ... I'm predicting a full two years after the initially-promised move-in date: November 2010.

I wonder if it turned out so nicely because it was a design/build contract awarded ... that is, when the CAS wanted a new building built, they actually held a national competition (back in 2004) - http://www.bird.ca/projects/view.cfm?PID=23

Balcony is always excluded from square footage

You got in at a great time! I was only four months after you, but was stuck at $360/sf. I think they really underpriced though ... even in Jan/06, the downtown core condo prices for brand new units were much higher than $330. Great find, and could even appreciate more between now and move-in...

It sounds like this is the beginning of the end of the club district on Richmond. Soon all the clubs will have shifted to Adelaide & King. I can't think off too many left on Richmond, especially west of John anymore. I'm sure developers are licking their chops at the former Plastique site (now...

Bentley, couldn't have been 600/sf a couple of years ago for the 520-sf unit. I know exactly the unit you're talking about (http://www.boutiquecondos.ca/carlyle.html) because I purchased that one, as well as one of my friends. I got a 7th-floor unit for 194,900. Not anywhere near 600/sf, this...

Update Just to reply to various posts in this thread: - the ground-breaking for Phase II will be April 10th. - less parking lots in clubland will now mean even more congestion and fighting for those precious few street spots, and will mean that the big underground lot can probably jack up...