Assuming you charge back the purchase cost entirely to the condo units (not any retail component), the chargeback is $221,000 per unit and change.

Assuming a unit size of 550ft2, that's a chargeback of $401 per ft square before any construction cost, financing cost, marketing cost or a profit-margin.

At 84M for 0.486 acres that's a land price of just over 172M per acre.
 
Assuming you charge back the purchase cost entirely to the condo units (not any retail component), the chargeback is $221,000 per unit and change.

Assuming a unit size of 550ft2, that's a chargeback of $401 per ft square before any construction cost, financing cost, marketing cost or a profit-margin.

At 84M for 0.486 acres that's a land price of just over 172M per acre.
Average unit sizes here will likely be more in the 800sf range. so more like $275/ft.

Which is more or less the going rate for land in the downtown, especially in locations like this which can be sold as luxury properties.
 
ZBA & SPA application(s) submitted:

Development Applications

Project description:
Zoning By-law Amendment application to facilitate the development of a 35-storey mixed-use building, atop a 3-storey podium. The existing building facade shall be maintained. The proposed non-residential gross floor area is 374.9 square metres, and the proposed residential gross floor area is 25,295.10 square metres. A total of 355 residential units are proposed.
 
Average unit sizes here will likely be more in the 800sf range. so more like $275/ft.

Which is more or less the going rate for land in the downtown, especially in locations like this which can be sold as luxury properties.

Points for you! Pretty close. Based on the above, average unit size will be 766ft2
 
* Docs are up *

From the Planning Rationale Report:

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Hmm, parking provision relatively high for this location.

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Oof. The high parking rate isn't anything unusual for luxury locations - rich people still like to own cars. It's actually a pretty low parking ratio considering that.
 
I had to look up this architecture firm. I hadn't heard of them.

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They're Vancovuer-based.

Their portfolio would not be something I would advertise, if I were them.

It certainly doesn't look like the resume for a luxury tower at a prime Toronto address.

The latter firm have their offices in this block............
 

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