Real estate as value-driven commodity =/= real estate as shelter.

Can't wait for all the RE, 'supply' bulls on Twitter to let us all know how great this garbage is...
 
ProjectEnd said:
Real estate as value-driven commodity =/= real estate as shelter.

Can't wait for all the RE, 'supply' bulls on Twitter to let us all know how great this garbage is...
Click to expand...
This area has long been full of "substandard" housing units aimed at a specific demographic that is ok with small spaces and relatively limited privacy, I'm just not sure someone will be willing to pay for new construction space with those substandard features..
 
innsertnamehere said:
This area has long been full of "substandard" housing units aimed at a specific demographic that is ok with small spaces and relatively limited privacy, I'm just not sure someone will be willing to pay for new construction space with those substandard features..
Click to expand...
Cover letter says this one is all rental, so I guess the question is whether they'll be able to find someone to pay the asking rent.
 
innsertnamehere said:
Olympia and York is back from the dead.. this is owned by "315 Spadina Facility Inc.", with an address matching that of Reichmann Realty Advisors, owned by the Reichmann family of Olympia and York fame.

Realty Advisors - Global Asset Management | Reichmann International

The Reichmann International Realty Advisors has been revolutionizing the global commercial real estate industry over the past 60 years. Learn More.
www.rirealtyadvisors.com www.rirealtyadvisors.com
Click to expand...

Maybe the 3rd time's the charm. Reichmann Realty Advisors tried to develop a two-building/phase condo project in Kingston near Queens University, called University Suites. The Teeple-designed project was cancelled almost after 3 years it was completely sold out.

This site is close enough to UofT to be most likely marketed as student housing, hence the bowling alley-like units.
There's an interesting townhouse development being built on the other side of D'Arcy
 
It's a shame what Chinatown is turning into. These types of neighbourhoods (Koreatown included) are really beginning to lose those their character.
 
Hieberrr said:
It's a shame what Chinatown is turning into. These types of neighbourhoods (Koreatown included) are really beginning to lose those their character.
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Rewind about 50 years, when Spadina was mostly Jewish businesses: "It's a shame what the area is turning into. These types of neighbourhoods are really beginning to lose their character."
 
Towered said:
Rewind about 50 years, when Spadina was mostly Jewish businesses: "It's a shame what the area is turning into. These types of neighbourhoods are really beginning to lose their character."
Click to expand...
Effective one liner, but a purely rhetorical argument that doesn't actually mean anything. The neighborhood is becoming more sterile by the day. And by sterile I mean the loss of mom and pop shops (bars, retail, event spaces, clubs, sketchy after hours) and the opening of corporate retail.
 
Bernard Luttmer, a developer who is leading the project in partnership with fellow developer Barry Hauer, told the Star on Tuesday their main goal is to provide more housing in the area with retail space at the base of the building, adding their teams believe there is a “high demand” from area professionals for studio-type units in the neighbourhood.

“Obviously Rol San is a very popular spot,” he noted. “We’ve already had discussions with them and hope that they will take a space in the new building when it’s built and remain in the community. We’re working hard to make that a reality.” He said that the developers are also “not looking to increase the rent significantly” for commercial tenants.

Luttmer added that although they have spoken with the current tenants to discuss future options, he said not all the tenants may return because of plans to keep some retail spaces small.

‐-----------------------------

Layton added that he hopes the developer will include affordable housing within the new building, and noted the proposed units in the building — the studios and the double studios — “are too small.”

Luttmer said their team is in discussions with the city, but do not know yet exactly what their plans are for affordable units.

www.thestar.com

Chinatown staple Rol San may be closing due to development proposal

The developer behind a proposal for a 13-storey mixed-use building hopes the longtime dim sum restaurant will return as a tenant in the future develop...
www.thestar.com www.thestar.com
 
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