i know it's way too early but what kind of changes can we expect?
 
interchange42 said:
Well, there you go then. Thanks for taking the time to look that up @Northern Light! (A tad late in the game though, 48 Yonge?)

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Having had discussions w/planning on this application.........

I can only say it has surprised me at various points what had not been given fuller consideration at earlier stages of the process, and what was presumed to be addressable entirely at the SPA stage.

I'm not suggesting that that played a role in this specific property owners concern, as I was not involved in anyway in that.
 
ushahid said:
i know it's way too early but what kind of changes can we expect?
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To be clear, I do not have any inside info on this.

Having said that, I would surmise that the adjacent owners are actually fishing to be bought out by the proponent here.

The CC3 proposal as envisioned does limit their commercial redevelopment opportunities.

I feel comfortable suggesting that maximizing their own property interests likely can't be achieved except by their being bought out or otherwise folded into the proposed development.

But that is entirely speculative on my part.
 
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i was thinking the same thing but was scared to say it out.
 
Haha they should buy it and some how try to fit a 90 storey hotel/condo tower in there, ...oh gee i forgot about those shadows on our parks ?
 
Automation Gallery said:
Haha they should buy it and some how try to fit a 90 storey hotel/condo tower in there, ...oh gee i forgot about those shadows on our parks ?
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If they bought it there's a good chance CC3 would become shorter; larger floor plates but same total area. Faster construction, occupancy, and fewer floors makes it more appealing to a lead tenant.
 
rbt said:
If they bought it there's a good chance CC3 would become shorter; larger floor plates but same total area. Faster construction, occupancy, and fewer floors makes it more appealing to a lead tenant.
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The thing is, they have a heritage building to work around in that Yonge Street row.

That makes for a very awkward looking floor plate, unless you go to facadism and integrate the hotel into the floor plate.

There are workable options; but none are that cheap or appealing.

I think if you pull the 'main' tower to the Yonge side, you need to add, likely perhaps 1M net new sq feet to justify the expenses involved.

Assuming that doesn't come from a whopping height increase, it would mean finding room for another tower or floor plate enlargement somewhere else on the site.
 
Back up for approval at the coming meeting.

The reason stated for the delay was that the Section 37pkg was previously incomplete.

Said pkg gives the Councillor $12,400,000 in discretion!


Full Section 37 below:


A cash contribution of $18,500,000 to be allocated towards the following benefits:

i. A cash contribution of $1,000,000 for on-site public art, through the preparation of a public art plan, in accordance with City Planning's Percent for Public Art process, and with approval from City Council;

ii. A cash contribution of $5,100,000 for site capital improvements, of which $3,271,165 shall be attributable to the identified streetscape improvements adjacent to the subject site as shown on the Landscape Plans by Claude Cormier + Associés dated March 13, 2019;


iii. A cash contribution of 12,400,000 to be allocated to the discretion of the Ward Councillor towards:

A. The provision of new affordable housing within Ward 13, to be directed to the Capital Revolving Fund for Affordable Housing, payable prior to the issuance of the first building permit; and

B. The provision of local streetscape improvements within Ward 13, payable prior to the issuance of the first above grade building permit;
 
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Northern Light said:
Back up for approval at the coming meeting.

The reason stated for the delay was that the Section 37pkg was previously incomplete.

Said pkg gives the Councillor $12,400,000 in discretion!
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Wowo_O that's nuts,, no City Councillor in Toronto should have the freedom to decide what should be done with that amount of section 37 money,?
 
It's not nuts at all. KWT will likely funnel the bulk into affordable housing, with whatever remainder going to streetscape improvements. I'm not worried about how she'll decide between the two options before her.

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Automation Gallery said:
Wowo_O that's nuts,, no City Councillor in Toronto should have the freedom to decide what should be done with that amount of section 37 money,?
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It's not exactly unrestricted spending; there are a ton of rules as to what section 37 funds can be applied to. Basically boils down to spending on public parks within a certain radius of the project.

So yeah, the councillor will get to choose which of the projects that planning puts forward gets built. Of course, one of the reasons for large value of banked section 37 funds is planning hasn't had any ideas for projects that might qualify.
 
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