ProjectEnd said:
I don't know what occupancies are like in those buildings in 2024 but you are correct, the 'investment' wasn't in a 'living space', it was in property in Manhattan, and the folks paying to play there would probably prefer that those units remain vacant. Here, the 'investment' is in the cashflow, so if it's not occupied, you're screwed.
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I wonder what will be resale prices of these condos
after it becomes obvious, that this building is unlivable.
 
xy3 said:
A lot of this would be improved by linking mortgage approval documents with a CRA verification/approval portal to stop the mortgage fraud that significantly bids up prices on the lower end of the condo market. Furthermore, the people perpetrating the fraud generally don't discern in the quality of living the unit offers , so they just create a market for junk that didnt exist 30 years ago.
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I agree, though this would only partly solve the problem and people would challenge the CRA. A bigger issue is, in my industry, a problem around RE appraisal being dictated far too much by the client. As in, too many appraisers are without the ethical integrity to get the value "right", whether they are trying to get a ridiculously low value for tax purposes, or a ridiculously high value for financing. There is a range, and that's often the excuse, but usually the final value makes no sense in relation to any reasonable range.

So there are a few systemically allowed things that drive values up for sale purposes, and reduce values for tax purposes. It's sort of sad. These are smart qualified people, but when it comes to pay day they bend quickly.
 
Easy Fix: I spoke with Edward Rogers and explained the problems with 19 Bloor West and he called Reserve Properties... they agreed to swap the 19 Bloor West and 30 Scollard sites (includes some ca$h to Reserve). A larger version of Gabriel Calatrava's Scollard design will be built beside Sam's temple of glass.

Preliminary Sketch
0000-19-B-Cal.jpg


I also asked Mr. Rogers if he could infuse the Jays ⚾ line-up before the home opener with someone who could hit with runners in scoring position, but he told me to mind my own business.
 
Lenser said:
Good to see peeps with real connections here! (;->))
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I should have concentrated on the Jays issue with Mr. Rogers... 2 minutes ago Springer's lead off double against the Yankees (he moved to 3rd with just 1 out)... wasted by the Jays sigh again. Same script. It's rather like being a Leafs fan already.
 
That would look kinda awesome if it where real...
 
ProjectEnd said:
I don't use 'future slum' lightly, but this is literally Ice2...

Fourth worst elevator ratio in the City. But that very quickly goes to number one the second one of them gets pulled into moving / service duty or goes out of service. Congrats, gents. Way. To. Go.
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It's not just the unit to elevator ratio. Taller buildings mean longer wait times, which is why some of us older folks don't like to live in tall buildings...
 
Seems like a good place to remind us of @Koops65 skill as an illustrator (over at SSP)... some of the Tallest Proposals in Canada (headed up by this one at the moment).

koops-proposals.png
 
Bit of a table top action going on. The Burg Binghatti would rectify that situation. It's either tacky or ugly or both. It's damn tall
 
One Yonge (Sky Tower) is taller than all of them, unless the 105 storey proposal has been nixed?
 
evandyk said:
The office towers downtown all have them, and it makes a huge difference. But you still need enough elevators to make sure the ones going don’t have to stop at every floor.
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I imagine 8 elevators would be enough for such a system to work efficiently.

The problem is that the OBC doesn't have minimum service standards for elevators so we have no idea if Reserve is going to do such a system or just let the plebes wait 20 minutes for an elevator to their 300sf unit 800 feet in the sky.
 
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