I walk by the site almost everyday. It's not a big site and it's a relatively easy site to build on as it is easily accessible from all sides with no obstructions or large buildings adjacent to it.
Lamb Dev hit their sales target long ago plus they have an excellent relationship with lenders and track record, so the delay in construction is not a financing issue.
With all of the contruction going on in the city, I'm thinking it's more of a shortage of labour/trades or scheduling issue that's creating this slow start -- almost all developments will experience some kind of delays.
 
neuhaus said:
I walk by the site almost everyday. It's not a big site and it's a relatively easy site to build on as it is easily accessible from all sides with no obstructions or large buildings adjacent to it.
Lamb Dev hit their sales target long ago plus they have an excellent relationship with lenders and track record, so the delay in construction is not a financing issue.
With all of the contruction going on in the city, I'm thinking it's more of a shortage of labour/trades or scheduling issue that's creating this slow start -- almost all developments will experience some kind of delays.
Click to expand...

Agree on all counts, the only other factor to add might be that like so many downtown sites, this one is a lot line to lot line excavation, minimal staging space which will always have an impact on how quickly work can proceed.
 
AHK said:
Agree on all counts, the only other factor to add might be that like so many downtown sites, this one is a lot line to lot line excavation, minimal staging space which will always have an impact on how quickly work can proceed.
Click to expand...

That's right. A lane on Brant Street and a lane on Adelaide Street are often blocked off for their staging and that's still not a lot of space to work with.
 
Pic taken April 10, 2014

The site is not always busy.


msNJiIz.jpg
 
Of recent, the pace has picked up!


Pick taken May 14, 2014

aFIP6zT.jpg
 
I was thinking the same about the parking. This is nice rectangular space that could easily take on more parking. My take is when the city restricts parking it creates a scarcity for parking spaces pushing the price upwards benefiting the developer but punishing the buyer and anyone else who wants to park a car. I want to own a car not a bicycle and I don't want to be punished for wanting a car. Its a cash grab. It wont be too long before the "fossil fuel" engine disappears but we'll still want vehicles and places and affordable places to park them.
 
I'm not hinting about a conspiracy. Just my rant about someone always benefiting from scarcity as it always pushes prices upwards never downwards. A couple streets south parking rates double whenever a event takes place at the dome. Scarcity equals increased pricing. The market has a way of always finding the fulcrum. My take is scarcity is largely manufactured to benefit the few.
 
Red Mars said:
I'm not hinting about a conspiracy. Just my rant about someone always benefiting from scarcity as it always pushes prices upwards never downwards. A couple streets south parking rates double whenever a event takes place at the dome. Scarcity equals increased pricing. The market has a way of always finding the fulcrum. My take is scarcity is largely manufactured to benefit the few.
Click to expand...

I hear ya. Builders used to include parking. Then they started charging $15K....then $25K. Now I've seen as high as $75K. I don't like where things are headed.
 
BMyers said:
120 parking spaces for 243 units: http://www.toronto.ca/legdocs/mmis/2013/te/bgrd/backgroundfile-57268.pdf

There are no conspiracy theories among Toronto planners to artificially push up parking prices by limiting supply, they usually desire more parking than developers want.

You're funny RM!
Click to expand...

Well if you are denying a conspiracy, then why not allow ALL potential purchasers the opportunity to buy a parking space with any sized unit.

As it exists now (based on what you just wrote that the planning dept wants more parking than developers want) then it would make sense why developers (who's only goal is to make money) force purchasers to buy a larger unit in order to be able to also buy a parking spot. Developers make more profit on larger units. They make next to nothing on parking spaces.

RM may have some details wrong, but he's not far off in his thinking. You work with developers so of course you are going to deny the truth.

If developers offered parking for any sized unit, then I would think that things are fair. But developers claim that the reason is because people who buy smaller units don't have cars. That's BS. You need to live in a condo with limited parking to realize how desperate people are for a spot.

The reason is simple = there are no profits to be made on parking alone.
 
Does the whole "must buy big unit to get parking" thing work in other cities like say New York, Chicago, Vancouver, etc?
 
Probably, and for the exact same reasons.

The developer here either wrote in an article or said aloud, can't recall which, about how big cities are only for the rich and that Toronto was going in that same direction. We have no doubt about this. But who's causing that?
 
You must log in or register to post here.

Back
Top