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Very interesting. These three developers have very deep pockets and a fairly decent past track record. If they re-launch the project, we might see a much more interesting design.
 
^ I don't know about that. Consider this, from an article from July 18th:

Société Générale, faced with its own financial woes, sold off the loan to Berman's group for an undisclosed amount. The group is made up of representatives of three Canadian companies, Tricon Capital Group, the Minto Group and KingSett Capital.

Now, the group wants to be paid out, or to be allowed to buy the property with an eye to building a more modest project. Berman's group has offered $50.5 million as the opening bid of an auction they suggest take place soon.
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If they do end up gaining control of the project, I suspect that we will end up with a standard Toronto box in the 40-50 storey range.
 
Mongo said:
If they do end up gaining control of the project, I suspect that we will end up with a standard Toronto box in the 40-50 storey range.
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Not unless the city steps in and requires that any new proposal on this site must be of equal or greater design and height of the failed 1BE.:)
 
catcher_of_cats said:
I find it slightly amusing that the date on the article is for tomorrow.
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I agree with you CoC as I noticed the same thing ... I suppose I got lucky and found the page before the link was posted on DCN's main page .... I just posted what was written in the article (didn't want to edit anything) :)
 
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Most of what Lamb has to say should be taken with a boulder of salt. If you read between the lines in that article the message is that he personally has lost a fortune in this credit crisis because the easy money train left town before he could get his projects off the ground.

"The irony is that there are buyers out there and they’re real, not speculators, people who want and need a place to live,†says Jeanhy Shim, of Thinkbuild Consulting, a condo market research firm.
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Were those the real buyers who lined up in the snow for 72 hours?
:rolleyes:
 
vultur09 said:
Most of what Lamb has to say should be taken with a boulder of salt. If you read between the lines in that article the message is that he personally has lost a fortune in this credit crisis because the easy money train left town before he could get his projects off the ground.
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Not sure if he lost a fortune (he may have I just don't know) but he did/does have projects on the go.


BradLamb said:
But the banks have been unfair to those developers who were too slow/dumb/inexperienced enough to realize they should have locked down their financing during the most liquid/easy financing time in history by changing the rules half way through the game. Now they want more.â€
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I thought I would fix his quote a bit though.
 
panther5125 said:
First Gulf / Great Gulf has NOW pruchased 1 Bloor
Now you will see some action! ED can go look eleswhere now!
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Where did you hear that from? Any links to verify !?!?!

And why would ED have to look elsewhere?
Does GG work exclusively with Tucker Hi-Rise?
 
panther5125 said:
First Gulf / Great Gulf has NOW pruchased 1 Bloor

Now you will see some action! ED can go look eleswhere now!
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That's really substantial news !! please validate with some sort of supporting documents ?

And what's ED anyways??
 
I really hope the rumour is true... Great Gulf, IMO has done a great job in building condos downtown that respect and improve upon context - thinking Saint James (probably my favourite condo in the city), 18 Yorkville, and The Morgan and The Hudson. Not to mention in terms of retail, First Gulf's Waterloo Town Square redev. has been a huge success.

They seem to be one of the developers that "get it"... and my hopes are raised!
 
If this is true, it will be the best news I have heard regarding this project. I cannot see anyone better fit to handle this corner.

Fingers crossed this is verified soon.
 
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