ProjectEnd said:
Cool...
https://twitter.com/x/status/1507138444056838145
Click to expand...

For those who are click-averse, or not getting previews, the above is a statement from Jessica Bell of the NDP noting that this building is 60% vacant, and musing about whether the City's vacant home tax should apply.

That's an extremely high number for any building, even one with heavy construction, especially in such a desirable location.

Would be interesting to understand why since this is rental accommodation and no income is no income.

Cromwell have a put a lot of money into the renos, so you wouldn't think redevelopment of the existing tower was the plan............

****

As an add-on, I found this in the comments of tweet:

Barcelona Seizes Apartments

It's a story from 2020 in which Barelona threatened to seize apartments if landlords didn't rent them out.
 
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Northern Light said:
For those who are click-averse, or not getting previews, the above is a statement from Jessica Bell of the NDP noting that this building is 60% vacant, and musing about whether the City's vacant home tax should apply.

That's an extremely high number for any building, even one with heavy construction, especially in such a desirable location.

Would be interesting to understand why since this is rental accommodation and no income is no income.

Cromwell have a put a lot of money into the renos, so you wouldn't think redevelopment of the existing tower was the plan............

****

As an add-on, I found this in the comments of tweet:


Its a story from 2020 in which Barelona threatened to sieze apartments if landlord's didn't rent them out.
Click to expand...
I have noticed a steady increase in tenants, building was practically empty peak covid/construction as it was not pleasant. It's also generally a pretty student heavy population. The rents they're hoping to extract, nearly $1700/mo for a studio, is pretty crazy, but not more than pre-covid.

To be fair, majority of the units now are renovated, and quite spacious + good layouts, better imo than a lot of new builds.

I also suspect that the public building reviews have yet to recover, the management is vastly improved from a few years ago, but the review sites might not reflect that.
 
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Source
 
I remember grabbing a brand spanking new build 2-bed (albeit a pretty crappy layout) in 2015 for $1,600 a month... ahh.. the glory days.
 
I see you reminiscing about 2015 and raise you a 2006 two bedroom suburban rental for $1050 where my family lived at the time.
 
For the north end of the property, at Spadina & Sussex:

www.toronto.ca

New Park at 51 Sussex Avenue

A new 600m2 park is coming to 51 Sussex Ave. as part of a residential development project near Spadina Avenue and Sussex Avenue in the Harbord Village neighbourhood. While we aim to provide fully accessible content, there is no text alternative available for some of the content on this site. If...
www.toronto.ca www.toronto.ca


New Park at 51 Sussex Avenue​


A new 600m2 park is coming to 51 Sussex Ave. Opens in new window as part of a residential development project near Spadina Avenue and Sussex Avenue in the Harbord Village neighbourhood.

Project Timeline​

  • May 2022: Community engagement
  • July 2022: Hire a design team
  • August to September 2022: Design development and community engagement
  • October to December 2022: Detailed design
  • March 2023: Hire a construction team
  • May 2023: Construction starts
  • September 2023: Construction complete, park opens
The timeline is subject to change.
 
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