Does anybody know what is happening with the old industrial/commercial building that is a part of Fashion House? Is it being used as part of the condo, or is it going to stay as commercial space. If so, any confirmation on the tenants who will occupy it (retail in particular)?

edit: I'm referring to the Silver Plate Building.
 
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drum118 said:
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I thought the Adelaide portion of the project had been delayed...?
 
That demolition poster has been there for many moons, since much before the more recent announcements...
 
I got a letter in the mail yesterday from Freed Developments. Fashionhouse still needs more units sold before starting construction, the economic viability condition has been extended until November 2009. I do not see this project starting construction before summer 2010
 
carturo15 said:
I got a letter in the mail yesterday from Freed Developments. Fashionhouse still needs more units sold before starting construction, the economic viability condition has been extended until November 2009. I do not see this project starting construction before summer 2010
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Was the November 2009 date indicated in the original Agreement for Purchase and Sale, or did they unilaterally decide that and send you a letter as their formal notice?
 
cdr108 said:
Was the November 2009 date indicated in the original Agreement for Purchase and Sale, or did they unilaterally decide that and send you a letter as their formal notice?
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The date on the agreement is May 2009, but they have the option to extend this condition twice, 6 months each (this is indicated on the agreement). That is why the new date is November 2009, and then if they want they can extend it once more for another 6 months until May 2010.
 
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carturo15 said:
I got a letter in the mail yesterday from Freed Developments. Fashionhouse still needs more units sold before starting construction, the economic viability condition has been extended until November 2009. I do not see this project starting construction before summer 2010
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Interesting. I have a friend at 455 Adelaide who was under the impression that construction (or at least the demolition of the existing structures) was about to start.

On a related note, is there still to be commercial parking under Fashion House? Some rumours suggest that the project has been shrunk by two floors. One would think that this and commercial parking should have alleviated some of the financial pressure to get construction under way.
 
Hydrogen said:
Interesting. I have a friend at 455 Adelaide who was under the impression that construction (or at least the demolition of the existing structures) was about to start.

On a related note, is there still to be commercial parking under Fashion House? Some rumours suggest that the project has been shrunk by two floors. One would think that this and commercial parking should have alleviated some of the financial pressure to get construction under way.
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Yes, the project has been shrunk by two floors. I also heard about the commercial parking, it seems like Allied properties have signed some agreements with Freed and Victory Condos to have commercial parking underground on Victory Condos, 650 King and Fashionhouse.
 
^Carturo15
What official info do you have that shows the building has been chopped two floors? I am assuming you are talking about the north section only.
S'Bus
 
^^ Yossi Kaplan told us about the floor reduction on page 18.
 
It seems like the gas station has been closed today. the cab garage was closed last week I think. It seems like some activity is coming to this site
 
Freed owns the property, so that's not a surprise.

A part of the lot is being used for parking.
 
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