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Thanks for the update! Looks like Broadview north of Danforth is getting more retail. Will be interesting to see if it develops into a retail strip.
 
Dense said:
This is very likely to end up in receivership. Dead in the water (or has been for several months)
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I don't think it will go into "receivership" for the simple fact of who owns the land. I don't think money is an issue.

They were asking pretty high prices and these are not good times. Anyway, I expect the owner of this property just to sit on it and sell it off in the future or develop it when things are better.
 
GioBuild said:
I don't think it will go into "receivership" for the simple fact of who owns the land. I don't think money is an issue.

They were asking pretty high prices and these are not good times. Anyway, I expect the owner of this property just to sit on it and sell it off in the future or develop it when things are better.
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You may be more in the know than me on this project. I don't know the owner, but I noticed the Daffodil website is down. I am just basing my statement off a conversation with a staffer at Daffodil and in reviewing the numbers for this project.

They closed on the land at $10m, which is a relatively hefty price to pay for 50 units and about 60,000 SF of GFA
 
Dense said:
You may be more in the know than me on this project. I don't know the owner, but I noticed the Daffodil website is down. I am just basing my statement off a conversation with a staffer at Daffodil and in reviewing the numbers for this project.

They closed on the land at $10m, which is a relatively hefty price to pay for 50 units and about 60,000 SF of GFA
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10 million for 60k sq feet, so about $150/ft would not be an "overpay", if the price per foot was $1500+ (parking extra etc.) and sales were moving. The $10 million isn't really an "over pay", not in my opinion. But the condo market right now in Toronto is quite bad.

And $10 million is nothing for the owner. (Again, just stating an opinion.) For some ppl 10k is a lot, for others 10 mil. It's all relative I suppose.

This will stay empty for a few years and then built. But I have a feeling in the future they will reapply for more height.
 
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