ProjectEnd said:
You don't make money that way...
Click to expand...

Sorry PE, not gonna buy on that one.

Better retail space rents for more $$ and stays vacant less.

Good, consistent rent is $$

Also, we're not talking about cladding the base in all granite or even real masonry, desirable though the latter may be. We're talking about better unit shaping/arrangement, space for signage, not going over height on the main floor unless you have a retailer than requires it (which saves money), and breaking up glazing between units some with solid wall, even with just 1/2 decent cladding.

A bit of though, and maybe an extra 0.25% (one quarter of 1%) of project budget and you're good.

ie. This isn't fancy, but it works:

875 Queen East | ?m | 7s | Harhay | OFFICEArchitecture

urbantoronto.ca urbantoronto.ca
 
You're welcome to do whatever you want in a building you develop, but in Toronto, retail is a pain-in-the-ass afterthought imposed by the City. Most folks wouldn't do it at all if they weren't mandated to. The less you have to think about it, the better. Retail rent or capitalized sale are peanuts on the overall proforma so why would I spend more than the absolute minimum on it?

(I'm not saying any of that is right or correct, but that's the reality)
 
ProjectEnd said:
Of course it is. It's good and it works well. It's also not what Harhay wanted to do in isolation...
Click to expand...

Absolutely. I'm just saying, at worst, its not really a net cost to do the grade experience well, or at least better, and done really well, at least in the right location, a bit of extra pays off.

Now its never the money-centre on a tower or even sizable midrise, but its not a money sink either, if you do it well.
 
ProjectEnd said:
You're welcome to do whatever you want in a building you develop, but in Toronto, retail is a pain-in-the-ass afterthought imposed by the City. Most folks wouldn't do it at all if they weren't mandated to. The less you have to think about it, the better. Retail rent or capitalized sale are peanuts on the overall proforma so why would I spend more than the absolute minimum on it?

(I'm not saying any of that is right or correct, but that's the reality)
Click to expand...
...I can't imagine how much more lifeless and community deprived than it already is if our developers where to conveniently forgo the retail aspect. Because that would likely be the reality we would be experiencing if they where allowed to do that.

But I guess it could also be argued it shouldn't have to be that way regardless if there was retail or not.
 
The first Gold Accent Frame!

1000023936.jpg


1000023935.jpg
 
You must log in or register to post here.

Back
Top