Blues
New Member
How much retail space will be provided? I wonder if they are going after the luxury brands that can't get suitable space on Bloor.
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I just don't beleive it. Need proof.
Technically, nothing has been sold and it wouldn't surprise me if upwards of 10% bail on their deposits given the direction the market is going.
No one need "bail on their deposits" until one of two events:
1. the next deposit date (assuming a staggered deposit structure) given how long these sales have been in place, they are probably fully in by now so there will be no more bailing that way (if there was any at all)
2. the completion/delivery of the building.
given that, I doubt that it is sales that are holding this thing up.......I tend to think it might be more a lender issue than anything else...ie. who is the construction lender?
compare this to Shangri La.......both are high end condo/hotel developments, both very large, both being developed by folks from outside our market and both have been marketed and sold (to a large extent) to investor type buyers (often offshore).....yet we only see doubt about this project going ahead and nice pictures of a whole in the ground at University and Adelaide.....difference.....we know who the lender is on the other project.
You are correct that moving ahead has little to do with sales, there are other unresolved issues there. They've sold well, but they are shy of the 95% figure that you're suggesting.
I would be curious to know what the other "unresolved issues" are.
Also I just looked up the status of building permits on the City of Toronto website and there are no longer any applications for 1 Bloor east showing up on the website
Yes there are - just search application number 08 201447.I would be curious to know what the other "unresolved issues" are.
Also I just looked up the status of building permits on the City of Toronto website and there are no longer any applications for 1 Bloor east showing up on the website
This old URL - which is a direct link to the 1 Bloor east applications - still works but if you try to do a new search for permits in Toronto-Centre Rosedale there are no listings for 1 Bloor east which I find weird because it should show up if it is still active (it did in the past)
you just have to change the search date range to start before September 9, 2008
How can this PARTIAL SHORING PERMIT take so long to process? This really is not a high watermark for the City.
True, and according to this development application status, site plan approval has not been issued yet.