Amare
Senior Member
Great find thanks @NorthernLight and @BhadPetrov.
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Time will tell if it will happen as the building is close to 40 years old and not in great shape. It will depend on what Amacon will offer to the owners. The possibility of the owners moving into one of the new Amacon towers who will pickup the moving cost one way or another and putting money in the owner pockets as well.Is this even true? Where is the evidence that this is actually happening?
If the towers aren't in great shape, this makes sense then. It's always interesting and unusual to see this happen, but we usually get something much nicer and taller if it does.
I think the precedent for large building demolition in Mississauga was set once Camrost Felcorp took down that office building for the Exchange District condos. Fortunately, these towers have no real value from a street interaction or heritage standpoint so I really don't see anyone missing them all that much. Time will tell if these plans actually go through.
Huh? How are they not in great shape?Time will tell if it will happen as the building is close to 40 years old and not in great shape. It will depend on what Amacon will offer to the owners. The possibility of the owners moving into one of the new Amacon towers who will pickup the moving cost one way or another and putting money in the owner pockets as well.
That what I been toldHuh? How are they not in great shape?
Even if the costs in this specific case or redoing the parking garages, windows, cladding, etc were taken into account in this specific case, I can guarantee it would still be cheaper than razing 2 substantially big towers with their parking garages, buying everyone who currently lives there out, then constructing an entirely new build.The cost of rehabbing parking garages, windows and exterior cladding can be eye popping. I had a unit ten years ago and the cost of replacing the windows and balcony door was 10k per unit. Fortunately, that condo corp was in good shape and had the reserve funds to pay for it. Others, like the one at Kipling and Steeles went into admin if I'm not mistaken but never did hear the outcome.
Maybe if they can quadruple the number of units (4 towers of 40+ stories) and charge outrageous 1k/sft prices like what others are doing.Even if the costs in this specific case or redoing the parking garages, windows, cladding, etc were taken into account in this specific case, I can guarantee it would still be cheaper than razing 2 substantially big towers with their parking garages, buying everyone who currently lives there out, then constructing an entirely new build.
Really it doesnt make any sense.