[DF416604]

Interesting. This isn't the first site they've picked up. They seem to making an aggressive play into the market taking advantage of the financial situation of more challenged players.

Not imprudent.

I wonder what thoughts @ProjectEnd might have.

$189.60 on current, unapproved GFA. Pretty incredible LOL there. Generation have [a lot of] money, but then there's just being stupid with it...

To echo this point;
It's a great time to be buying land no question - is this the site that should have been bought for $35M?

To make the numbers work here, it will almost certainly be luxury condo or luxury rental. There is no setback to the north lot line for the tower, which will create challenging wind conditions for north-facing units as well as a lack of balconies.
In most of the amenity you're getting stared at in the gym with zero lot line setback from the Green P.
Floors 5-15 South Facing Units are 5.5m from future development to the south - not great from a luxury standpoint. 17-32 you're 10m to south, which is less than typical. And you're next to a gas station.

 

[Tormick]

To echo this point;
It's a great time to be buying land no question - is this the site that should have been bought for $35M?

To make the numbers work here, it will almost certainly be luxury condo or luxury rental. There is no setback to the north lot line for the tower, which will create challenging wind conditions for north-facing units as well as a lack of balconies.
In most of the amenity you're getting stared at in the gym with zero lot line setback from the Green P.
Floors 5-15 South Facing Units are 5.5m from future development to the south - not great from a luxury standpoint. 17-32 you're 10m to south, which is less than typical. And you're next to a gas station.

~$190 PSF is expensive for luxury rental... Fitzrovia would even have trouble making those numbers work

 

[1Ć0]

~$190 PSF is expensive for luxury rental... Fitzrovia would even have trouble making those numbers work

That's what they paid for King/Princess and they'd rather move on their Maddox and Sherbourne sites over that...

If you're going to do luxury here, it's not going to be 30+ storeys with a 400m2 tower floor plate, it's going to be in the teens at around 150K sf GFA for $230/buildable. Mind you, parking stackers, tiny little lobby and all the things NL pointed out above are not helping this site as luxury build.