Low rise build with larger units should do ok I think.

Only 25% of the units need to meet the affordability criteria based on CMHC's rental rates. It's a new build, meaning they get a 50 year amortization, not 40 and at prime. It's a long game now, the losses will be made up quickly.

Sales have begun. Units from 900-1400 sqft starting at 878k.

They may, but I doubt it. The units weren't "large" in nature to begin with. They just made the decision recently to go that way, and if there's movement now, they more than likely did not change designs in order to get going. Probably scaled down finishes.

If approved, they can start construction immediately.

They have applied to CMHC to convert this to an MLI project. This means they'll get 95% financing for all the construction and the project is now going to become rental buildings.

I would say both. It's 5 years from delivery at the earliest, would be foolish not to invest in the 1st of a 10+ building location.

As a follow up, this and Cliffside Condos are being converted to purpose built rentals projects.

Sales began Wednesday the 16th, from what I've heard so far, interest has been very high. When a reputable builder comes to market, they seem to garner the trust of buyers. I think this project as a whole will do well.

Just advised this project is being cancelled.

Not swinging wildly at all. As for how they were going to add, it was more about subtracting, if the site was designed with three levels of parking they would do everything they could to try and eliminate a level by raising pricing on parking so in order not to have to build it based on demand...

If developers charge what it actually costs to produce one parking spot, nobody would buy parking. I've sold many sites that had high demand for parking in which the builder did not change plans to add. Had one developer add $50,000 to the cost of parking pushing it to $125 k just so nobody...

There's a reason the developer makes parking as expensive as they do, it's because they don't want to build it. Demand has absolutely nothing to do with the amount of parking they will build as the cost per level is astronomical and they would rather sell less than more.

I was trying to sell this site a couple of years ago, builders wouldn't touch it due to inclusionary zoning,.this site requires 6% to be. It's a "B" site at best and builders want an 8 minute or less walk to a Subway or GO. 36 Zora is now an Airbnb approved condo hotel, area is going to shit.

The biggest challenge for the site is not density as they have not applied for anything over what's currently allowed to 3x. The issue is the 3 bed, minimum 1000 sqft requirements, it's handcuffing a lot of developers. Why would someone buy a 3 bed condo at over 1.2 mill when the housing in the...

This builder knew exactly what the zoning was and ignored it. The Queensway has never been approved for anything greater than 10 storeys, this was pure arrogance and greed on the builders part at the disregard of the purchasers.

Every builder with the exception of a couple always sell before SPA is granted. Builders can't wait 3-5 years for municipality to make a decision. If they did you would much higher pricing.

The fact that they were only pouring the second floor deck when LPAT decision came in, it's not that surprising.

This is not the City's doing. This builder knew and knows how restrictive The Queensway is and all other Ave's in Toronto for density and height, not sure why he thought he could change what's been in existence for more than a decade. Just arrogance.

This particular developer already knew what zoning and density restrictions were in place as they built Qube Condos just a couple blocks away. This is just arrogance on the builders part thinking they could could change a site specific zoning plan that's been in place for over a dozen years and...