I don't disagree! I'm merely suggesting that opportunities like this don't come along every day and only the companies with the deepest pockets (and/or greatest willingness to take ambitious risks) will be vying for this huge parcel of land... that said, I expect there will be competition all the same.
 
In the end, we're only likely to know what the most ambitious of the proposals is…

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Precisely my point. It's Darwinian as hell, doubtless. But then again, we're talking downtown real estate. It's just the nature of the market.
 
interchange42 said:
In the end, we're only likely to know what the most ambitious of the proposals is…

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Not sure that is true.....you may only find out what the proposal is of the group that offers the highest price to the province...that may not be the group with the greatest ambition.
 
Hmmmm, that's entirely possible.... the deepest pockets firms might be more accustomed to a certain kind of architectural complacency.
 
Remember Harbour Street will be extended through the middle of the Toronto Star Property and also through the middle of the LCBO property and eventually through the Loblaws property ending at Jarvis
 
Developers taking a page from contractors to under bid like crazy to take out any rising competition. In the case of developers, switching from condos to something more long term may make up the deficit.

interchange42 said:
Ask developer #1 if developer #2 overpaid for property X, and they'll tell you they don't know how #2 will be able to make a go out of it. Point being that they are lots of developers around this city shaking their heads about what others are paying for some sites, and doubting that if they had paid that much how they would ever make a profit. For example, there's a particular site just east of Downtown south of Front that other developers are wondering how the purchaser ever agreed to pay as much as they did. Here, it remains to be seen based on the size of this parcel how many developers will be getting in on the RFP, and how many consortiums of builders will get together to try to purchase it.

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It will be interesting to see how sticky the heritage stuff will be now that the province have said "proceeds to build infrastructure and transit"
 
dowlingm said:
It will be interesting to see how sticky the heritage stuff will be now that the province have said "proceeds to build infrastructure and transit"
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Protecting heritage is not necessarily inconsistent with making lots of money. Many people like to live or work close to or in heritage buildings and the LCBO head office building and part of the warehouse are really a tiny part of the whole Lower Yonge area.
 
Can build several million square feet of commercial area while retaining both buildings and not exceeding 100 metres in height. Easily worth a couple 100 million. The warehouse is easily adqpted to retail development anchor by a new loblaws.
 
Listening to the news, they expect to get in excess of $200. That is not out of reach by any means.
 
bmiller said:
Listening to the news, they expect to get in excess of $200. That is not out of reach by any means.
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This site is ~11 acres isn't it, or ~480,000 sqft buildable area? Even with subtracting the space for Harbour Rd ext, you have a ton of space. My thought is they could get higher than $200,000,000. How much did Daniels buy the guv lands for? Also I can't remember but how much did Pinnacle purchase the 1 Yonge site for, or the much older Pinnacle towers site for? (Both smaller sites) Easily this site could fit 8 or 9 large buildings unless I am missing some other constraints on the land.
 
MikeOlivo-Moore said:
This site is ~11 acres isn't it, or ~480,000 sqft buildable area? Even with subtracting the space for Harbour Rd ext, you have a ton of space. My thought is they could get higher than $200,000,000. How much did Daniels buy the guv lands for? Also I can't remember but how much did Pinnacle purchase the 1 Yonge site for, or the much older Pinnacle towers site for? (Both smaller sites) Easily this site could fit 8 or 9 large buildings unless I am missing some other constraints on the land.
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Pinnacle bought the One Yonge site for whopping $255,000,000.
http://urbantoronto.ca/news/2013/04/more-details-emerge-pinnacles-skyscraping-1-7-yonge-proposal

I'll take the over on the current 200 million projection for this site, please.
 
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