ssiguy2
Senior Member
I agree with more people and thanks for the response but wow, that's still one mother of a building.
- Thread starter Bayer
- Start date
Easton's are going to the Committee of Adjustment on Feb 25 to ask for a few changes to the zoning bylaw amendment for this development, the biggest deal of which is to reduce the number of parking spaces, and there eliminate a couple floors of underground parking. In an investor-driven development like this where the vast majority of residents will end up being Ryerson students, the parking spaces simply aren't selling.
So, here's what's in the bylaw now…
… and here's what they are seeking to have that replaced with:
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So, here's what's in the bylaw now…
… and here's what they are seeking to have that replaced with:
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TheKingEast
Senior Member
They're not selling because they're far too overpriced. The purchase price, maintenance fee and the fact that you're paying for a full size spot but may get a tiny spot with 2 pillars in it. Not worth it.
Parking spots are selling slowly everywhere in the central area these days. Investors know that they don't need them for student renters, and for many young professionals/couples buying their first condo in the city, a car has become an unnecessary expense. If you do have a car and are a city dweller, why would you have a big car? Total waste.
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ponyboy
Active Member
I'm pleased to see how the demand for parking spaces is down. I've lived in Toronto since 2002, and Carshare options have made a lot of difference, tilting people away from owning a car. I hope our homegrown Autoshare can compete longterm with other players in that space.
ShonTron
Moderator
The Pizza Hut (a take-out only operation facing Dundas) closed without notice. I'm not sure if the leases are terminating as the hotel winds down operations, or if it just wasn't a strong-performing franchise.
TheKingEast
Senior Member
I agree for the most part. I still think the extra cost (a very high cost) for parking is a huge factor. I have never bought parking in any precon project because I didn't have a car and despite people telling me how parking is such a great investment I felt the extra cost was not worth it. However, I would have loved to pay an extra $5-$10K for one. It's still very convenient even for people who don't own cars. I think builders tried to cash in on this and it just isn't working. The costs of the condo itself is high enough. Why would someone pay the extra $50K for parking (plus maintenance)? When it comes to sell, you won't make that money back. It's best to buy and then rent the parking.
Multiple sources will tell you that underground parking costs a pile to build, with each level deeper you go, generally, the more expensive. As soon as you're into the bedrock, builders would rather stop excavating and just anchor the foundation as the bedrock layers are very expensive to carve out.
Down by the harbour at York Quay, where Waterfront Toronto was required to put in a 300-spot garage, it cost them $25 million.* That's $83,333 per spot. It costs more there because of the water issues—but we know that some of our buildings uncover underground rivers as well. Six years ago the generally accepted minimum cost to build an underground parking spot was about $30,000, while in an above ground structure a space could be built for about half of that. So sure, of course anyone would love to pay an extra $5-$10K for one, but just who would you put out of business to accomplish that?
* http://news.nationalpost.com/2012/0...o-breaks-ground-and-the-bank-near-waterfront/
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Down by the harbour at York Quay, where Waterfront Toronto was required to put in a 300-spot garage, it cost them $25 million.* That's $83,333 per spot. It costs more there because of the water issues—but we know that some of our buildings uncover underground rivers as well. Six years ago the generally accepted minimum cost to build an underground parking spot was about $30,000, while in an above ground structure a space could be built for about half of that. So sure, of course anyone would love to pay an extra $5-$10K for one, but just who would you put out of business to accomplish that?
* http://news.nationalpost.com/2012/0...o-breaks-ground-and-the-bank-near-waterfront/
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kotsy
Senior Member
Does anyone know when the demolition will be starting?
ShonTron
Moderator
The hotel is closing in December. Casey's is also now closed. The hotel's website says the restaurant is closed until December 31, 2015; this might be the last night of operation.
http://hiltongardeninn3.hilton.com/...en-inn-toronto-city-centre-YYZCCGI/index.html
The nearest licensed bars are Filmore's and Mounties (which I would never recommend). It's a few blocks' walk now for hotel guests seeking anything more than fast food, ramen, breakfast/unch (Mutual St. Deli) or total sketchy dive bars.
http://hiltongardeninn3.hilton.com/...en-inn-toronto-city-centre-YYZCCGI/index.html
The nearest licensed bars are Filmore's and Mounties (which I would never recommend). It's a few blocks' walk now for hotel guests seeking anything more than fast food, ramen, breakfast/unch (Mutual St. Deli) or total sketchy dive bars.
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stjames2queenwest
Senior Member
They have a smokes across the street and a timmies that's all tourists need for an authentic visit.
kotsy
Senior Member
or a personal favourite of mine a couple blocks west - Burrito Boyz!!
stjames2queenwest
Senior Member
They also have a really awesome convenience store hidden in next to a wig shop just a little west on the south side of Dundas. It has all sorts of awesome imported soda and snacks. Tahiti treat, cotton candy mike and Ike's blueberry flavoured almonds, pineapple crush, vanilla Dr Pepper. It's swell. There is also a couple options for falafel. The retail there is actually not terrible. But I admit it looks like shit.
ShonTron
Moderator
The Hokkado Ramen restaurant on Dundas and Church is excellent, but crowded.
Smokes, burritos = fast food.
Some guests may only be looking for a place to get a late drink, have a beer or two, or a late sit-down dinner. Casey's was never great, but it served that purpose. You'd have to walk to Victoria or Yonge Street for the equivalent.
Anyway, I just wanted to update on the status of the hotel.
Smokes, burritos = fast food.
Some guests may only be looking for a place to get a late drink, have a beer or two, or a late sit-down dinner. Casey's was never great, but it served that purpose. You'd have to walk to Victoria or Yonge Street for the equivalent.
Anyway, I just wanted to update on the status of the hotel.
Towered
Senior Member
With all the activity going on at this intersection these days I fear for Fillmore's 