urbandreamer

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Several months ago I alluded to the possible redevelopment of the Courtyard Marriott hotel at 475 Yonge Street. My proof?
http://whois.domaintools.com/475yongecondos.com is one of several domains registered 2014-10-17 by realtor Dinesh Deol--who also registered 11 Wellesley about 1.5 years before that project became official.

So given DD's relationship with Lanterra, could 475 Yonge be their next project? They do have a history of buying aging hotels to redevelop....
 

AlvinofDiaspar

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There is some kind of ad out by the dining room suggesting upcoming renovations - perhaps only part of of the complex (North?) will be redeveloped?

AoD
 

Urban-Affair

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Sold to Kingsett and Invest REIT for $94 Million (both buildings) in August 2015. Not sure if going concern, or whether this is to redevelop. If the latter, I would think it's way down the road.
 

Bayer

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KWT tweeted last week from the Downtown Yonge AGM: "Loreen Lalonde of Courtyard Marriott Downtown shared exciting news about the investments at the hotel." No further info about those investments, however.
 

Automation Gallery

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KWT tweeted last week from the Downtown Yonge AGM: "Loreen Lalonde of Courtyard Marriott Downtown shared exciting news about the investments at the hotel." No further info about those investments, however.
Yeah either way, in 10 years this complex will be history
 

maestro

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10 years is nothing. What makes you say that? Plenty of development opportunities on Yonge for a lifetime or two.. It's not "Invest " REIT either but, "Innvest" REIT.
 

Urban-Affair

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10 years seems awfully quick for something with this built out current use. I would think longer given its cash flow as an already built hotel.
 

maestro

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It's a REIT that specializes in hotel/inn properties. They didn't buy to shut the place down. For what? Supertall condo towers? What use are condos to a REIT?
 

ChesterCopperpot

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Possibly a mixed-use hotel condo development?
 

AlvinofDiaspar

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Whatever happens the hotel is overdue for a refresh - the rooms - in particular the bathrooms aren't up to par. The relatively convenient location aside, it is also mental health central - particularly at night.

The windows also have awful sound insulation - pick rooms that faces the interior and not to the side streets.

AoD
 

maestro

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Doubtful. Can't be done without shutting down the hotel for years. Condos are quick flips. REITs are structured around income properties usually sticking to a core useage. This one is hotels and they own dozens of hotels in Toronto. Rentals wouldn't interest them.
 

ksun

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Both this and the Marriot at Dundas/Bay look horribly outdated and lack anything that is worth looking at for 2 seconds. The only good thing is the locations. More suitable as airport hotels.
 

buildup

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Whatever happens the hotel is overdue for a refresh - the rooms - in particular the bathrooms aren't up to par. The relatively convenient location aside, it is also mental health central - particularly at night.

The windows also have awful sound insulation - pick rooms that faces the interior and not to the side streets.

AoD
What the heck are you spending so much time in those hotel rooms for, I thought you lived in Toronto. LOL
 

Automation Gallery

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Gee, 95 million for this doesn't make sense, i can see a 15-20s office bldg. and 35-40s hotel making more sense in the long run for the buyer,
same people here also thought that the Chelsea hotel on Gerrard was untouchable
 

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