[CaptainBL]

I was under the impression that is wasn't much of a serious building proposal and more of a rezone and resell, could be wrong though. I am pretty sure though that the proposed design is a fairly generic design (as in not made specific for the proposal) as I remember it being a downloadable asset in the original cities skylines game

It was an actual project that was well passed a rezone and sell. They actually were in the process of preselling condo units in the building and I remember taking a look at their marketing materials at the time while considering buying a unit. The condo market was (and still is) soft and the project died. Other than The View, I think this was the last condo project proposed in downtown that I can recall. Obviously The View went forward but sales were flat lined and last year the project was converted to rental due to the lack of sales.

 

[TAS]

It was an actual project that was well passed a rezone and sell. They actually were in the process of preselling condo units in the building and I remember taking a look at their marketing materials at the time while considering buying a unit. The condo market was (and still is) soft and the project died. Other than The View, I think this was the last condo project proposed in downtown that I can recall. Obviously The View went forward but sales were flat lined and last year the project was converted to rental due to the lack of sales.

Was The View converted to rentals due to lack of sales? I thought pre-sales were pretty strong and when it was finally finished construction there weren't that many units left to sell?

 

[CaptainBL]

Was The View converted to rentals due to lack of sales? I thought pre-sales were pretty strong and when it was finally finished construction there weren't that many units left to sell?

Yes, there were a number of units that had remained unsold and quite typically a developers profit is in the remaining units so it was more cost effective for them to buy back the owned units then convert the entire building to rental last year. Doing this they were able to get CMHC financing and take their equity out.