Hi, new to UT but can confirm that the columns in the Capote unit were revised when the building underwent a re-design.

Below the Capote originally was a 3bed unit. During the re-design, this unit was divided into two 1beds. The structure was revised to both benefit and maximize the usable/livable space in both the redesigned units and the Capote which rests above. With the opportunity to redesign the layouts, there was also an opportunity to tailor and maximize the livable area in the Capote, while insuring adequate support was provided.

The Schedule A in your friends APS will show the actual configuration of the unit without the columns.
Thanks for the confirmation.

I guess if you market the space as a jr 1 bedroom or bachelor, the bathroom in the bedroom isn't as bad.
 
It's in Realnet's best interest to say, "it's all good." The "study" is the perfect example. It implies the markets out west aren't greatly inflated in themselves. (particularly Calgary which is coming out of grossly overheated economic period)
 
Seems like the party will continue, According to the Financial Post.

RealNet's research backs this up. Its study of similar-size one-bedroom-plus-den units in Toronto, Calgary and Vancouver showed that Toronto's 633-square-foot condo came in at $288,900 ($456 per sq. ft.) compared with $357,900 ($528 per sq. ft.) for a 678 sq. ft. unit in Calgary and $461,000 ($739 per sq. ft.) for a 615 -sq.-ft. unit in Vancouver.

http://www.vancouversun.com/business/fp/Toronto+condo+prices+best+bang+your+buck/1575805/story.html


The information used in this article is completed outdated, especially the international values they used to do comparisons.

In fact, if one was an international investor ... there are MANY MANY better places to buy RE than Toronto or in Canada.

As mentioned before in a Bloomberg article I posted, houses in the Hamptons in NY are selling for $400 PSF.

Miami Florida's mid-high end level market condos are selling for $300 PSF ... BJL purchased one in a recent episode of his show.
 
Last edited:
Take this discussion into the Real Estate forum, folks...

EDIT: Taken. Please find the Fly Condo investment talk here.
 
Last edited by a moderator:
A friend of mine went to the fly presentation centre today, and the saleswomen there told him that after all the cancellation and stuff, it is now ~50% sold. If their ad on torstar about the 72% units sold was accurate, there were quite a bit of cancellation ...
 
I don't think they can drop prices any further? I've heard there's no profit even with their current $400 psf sales. If they're gonna drop sales to $350, they would be selling for a loss. That would be bad business. Of course, canceling their project now would still be a loss for them since they spent so much on promotions, design, etc.

I guess another way might be to sell a white box? So they can drop prices further and people can furnish their own suite.
 
I'm not sure the city has the legal authority to implement such a regulation.

S.37 agreements have been typically laying out the obligations for 3+ bedroom units. So, yes it is a legal requirement in the sense that it becomes a condition of approval.
 
Last edited by a moderator:
s. 37 is based on bonus density provisions and can be appealed. The planning act doesn't allow the city to dictate specifics in terms of units. The city can certainly use its influence throughout the process to encourage changes to unit allocations, but it would be fairly difficult to dictate those terms (Adam Vaughan is doing his best to force developers to include 10% of units as three bedrooms, but he can't require it).
 
You're right, certainly the Planning Act does not dictate the terms, but once they become mandated as part of a new zoning by-law, do they not then become legal?
I should have read the full string of posts leading to your original comment - you likely were not speaking of approved developments...
I'm fairly new to understanding these concepts, please forgive my ignorance.
 
Now that I think about it.... how is this supposed landscaped pedestrian path to clarence square supposed to work?

Fly-siteplan.jpg


That picture shows a path on the western part of their property leading north to clarence square. However:

fly.jpg


Even the most western point of that property does not line up with clarence square. So the path could not possibly take you into the park.

Not only that, but the picture shows a path that goes through the adjacent property. How would that be allowed? That property is a massive parking lot, and that path would cut it in half... why would the owners allow that?

:confused:
 
I imagine that, like any good condo marketing people would do, they aren't letting a trivial thing like "reality" get in the way of a good artistic interpretation..


Actually, I seem to remember there being some sort of discussion about having a public path or even a roadway go through that area, so maybe it is accurate.
 
From the Final Staff Report

Section 37
The Official Plan contains policies pertaining to the provision of community benefits for
increases in height and/or density pursuant to Section 37 of the Planning Act.
As discussed earlier in this report, the proposal includes the provision of a landscaped and publicly
accessible walkway mid-block on Front Street West to Clarence Square, with the objective of
completing the connection at the time of the redevelopment of the adjacent parking lots,
which are not
owned by the owner of the subject site. This is an important benefit to be secured through a Section 37
agreement with the applicant, and with the future applicant for the adjacent property.

The community benefits recommended to be secured in the Section 37 agreement are as follows:

1. An indexed cash contribution of $650,000, to be paid prior to the release of above grade permits,
to be used for Clarence Square Park improvements and streetscape improvements on Clarence
Square and on Front Street West, and 10% of the cash contribution to be used for affordable
housing projects in Ward 20;

2. Ten percent (10%) of the residential units in the building have at least three bedrooms, or be
convertible to three or more bedrooms; and

3. A mid-block connection from Front Street West and a public easement over the pedestrian
portion of the mid-block connection.

The following matters are also recommended to be secured in the Section 37 agreement as a legal
convenience to support development:

1. The provision of high quality materials for the mid-block connection to the satisfaction of the
Chief Planner and Executive Director, City Planning Division;

2. 1:50 scale elevations satisfactory to the Chief Planner, for the lower floors of the project to be
provided as part of an application for Site Plan Approval;

3. The implementation of any wind mitigation measures required by the wind study; satisfactory to
the Chief Planner, to be submitted with the Site Plan Approval application;

4. The provision and maintenance of an irrigation system, at the applicant’s expense, for proposed
trees within the public road allowances, including an automatic timer, designed to be water
efficient by a Certified Landscape Irrigation Auditor (CLIA) and constructed with a back flow
preventer to the satisfaction of the Commissioner of Works and Emergency Services, and
requirements to maintain in good order and operation; and

5. Certain green development elements, satisfactory to the Chief Planner, as may be identified in
the Green Development Checklist.
 
Last edited:
So basically, nothing complete is going to occur until the redevelopment of the adjacent parking lots,

Ahhh, creative license with models and artist renderings. :D
 
s. 37 is based on bonus density provisions and can be appealed. The planning act doesn't allow the city to dictate specifics in terms of units. The city can certainly use its influence throughout the process to encourage changes to unit allocations, but it would be fairly difficult to dictate those terms (Adam Vaughan is doing his best to force developers to include 10% of units as three bedrooms, but he can't require it).

That's never gonna fly in the downtown core. It's just going to get smaller and smaller, especially with the HST and when development fees start increasing again. Can you make a 3 bdrm under 800 sq ft?
 

Back
Top