innsertnamehere

Superstar
Member Bio
Joined
Mar 8, 2010
Messages
17,678
Reaction score
17,694
City:
Toronto
Hello everyone. Has anyone here on 12, 13, and 14th floors who bought units has been affected by this? My unit was cancelled also. Is the builder going ahead with the project, does anyone know? I am told 50 purchasers having their deposits returned. I agree with Kumha. We lost big. Prices are in TO are up significantly since 2018. 😡
That's the risk when you buy a project without zoning entitlements! Do your research.

Considering that it is well under construction, they are definitely building it.

Developers really shouldn't launch projects without their zoning in place, but it's honestly fairly standard practice and has burned a lot of people over the years as units get eliminated in the approvals process that were already sold. It sucks - but buyer beware, and make sure you minimize the risk by buying in zoning approved projects!
 

TSCMS

New Member
Member Bio
Joined
Mar 14, 2019
Messages
18
Reaction score
4
That's the risk when you buy a project without zoning entitlements! Do your research.

Considering that it is well under construction, they are definitely building it.

Developers really shouldn't launch projects without their zoning in place, but it's honestly fairly standard practice and has burned a lot of people over the years as units get eliminated in the approvals process that were already sold. It sucks - but buyer beware, and make sure you minimize the risk by buying in zoning approved projects!
This particular developer already knew what zoning and density restrictions were in place as they built Qube Condos just a couple blocks away. This is just arrogance on the builders part thinking they could could change a site specific zoning plan that's been in place for over a dozen years and applies to more than just the Queensway. Google, Avenues Revitalization Plan Toronto.
 

TSCMS

New Member
Member Bio
Joined
Mar 14, 2019
Messages
18
Reaction score
4
It's not the City's fault that the Developer took a huge risk by starting construction without zoning approval
I love how the City claims to be "pro" housing supply and then pulls crap like this.

Though it's also very possible that building costs have gone up so much the developer is just using this as an excuse to re-sell the units and make the project more financially viable.
This is not the City's doing. This builder knew and knows how restrictive The Queensway is and all other Ave's in Toronto for density and height, not sure why he thought he could change what's been in existence for more than a decade. Just arrogance.
 
Last edited by a moderator:

urbanresident

New Member
Member Bio
Joined
Jun 21, 2021
Messages
3
Reaction score
0
This is not the City's doing. This builder knew and knows how restrictive The Queensway is and all other Ave's in Toronto for density and height, not sure why he thought he could change what's been in existence for more than a decade. Just arrogance.
I agree with TSCMS. This is wrong. Builders is gambling with people's money and people's future plans.
Does anyone know, if builder going with 11 floor building plan? Or is the project abandoned?
 

Northern Light

Superstar
Member Bio
Joined
May 20, 2007
Messages
23,143
Reaction score
58,711
Fixed this for you:

Developers really shouldn't It should be illegal to launch projects without their zoning in place

No Zoning, no selling, no building
No Site Plan, no selling, no building
No Permits, no building.
 

interchange42

Administrator
Staff member
Member Bio
Joined
Apr 23, 2007
Messages
26,385
Reaction score
32,199
City:
Toronto
A new thread has been started specifically for purchasers at 859 The Queensway. You can find it here, or linked in the box at the top of the page under "Real Estate Forum." 2 posts have. been initially moved to it.

42
 

TSCMS

New Member
Member Bio
Joined
Mar 14, 2019
Messages
18
Reaction score
4
No Site Plan, no selling? That strikes me as putting the cart before the horse.

42
Every builder with the exception of a couple always sell before SPA is granted. Builders can't wait 3-5 years for municipality to make a decision. If they did you would much higher pricing.
 

interchange42

Administrator
Staff member
Member Bio
Joined
Apr 23, 2007
Messages
26,385
Reaction score
32,199
City:
Toronto
Every builder with the exception of a couple always sell before SPA is granted. Builders can't wait 3-5 years for municipality to make a decision. If they did you would much higher pricing.
Sorry, I probably wasn't clear enough. I was reacting to @Northern Light's post. I agree that it's too much to ask developers to wait for site plan approval before they can sell units. I'd be in favour of restrictions of some kind on selling before there's ZBA approval though, maybe not an outright ban, but something that doesn't tie up purchasers so much for units that are on the market that aren't possible under the existing zoning.

42
 

TSCMS

New Member
Member Bio
Joined
Mar 14, 2019
Messages
18
Reaction score
4
Sorry, I probably wasn't clear enough. I was reacting to @Northern Light's post. I agree that it's too much to ask developers to wait for site plan approval before they can sell units. I'd be in favour of restrictions of some kind on selling before there's ZBA approval though, maybe not an outright ban, but something that doesn't tie up purchasers so much for units that are on the market that aren't possible under the existing zoning.

42
This builder knew exactly what the zoning was and ignored it. The Queensway has never been approved for anything greater than 10 storeys, this was pure arrogance and greed on the builders part at the disregard of the purchasers.
 

Edward Skira

http://skyrisecities.com
Staff member
Member Bio
Joined
Apr 22, 2007
Messages
15,462
Reaction score
17,990
IMG_7477.JPG
IMG_7479.JPG
IMG_7478.JPG
IMG_7476.JPG
 

Top