newuser2k9
Active Member
My gut says it's too expensive/high profile a commission for that strategy exactly, but I do get the sense that there is more to this lot as well.
I find it hard to get excited by all this.
Let's remember the process on the Westinghouse site and that the following facts for that site also applies to this:
1. David Mirvish is not a developer; neither he nor his associate Peter Kofman have the expertise (nor financial capability) to develop, market and construct a project of this scale;
2. He sold the Westinghouse site for these very reasons (having little appetite to joint-venture with another developer following the Stinson fiasco);
3. On the Westinghouse site, he hired a high-profile architect (KPMB) and promised some cultural benefits (a Theatre Museum) in order to achieve his rezoning and deal with heritage issues;
4. Upon completion of the rezoning of the Westinghouse site, he sold it at an extraordinarily high price, to a developer (who then replaced KPMB with Page and Steele).
I believe that this is purely a real-estate play to maximize the value of the land and then sell it. Someone will have to pay for the museums, galleries and extras and the cost of these will be factored into the land price. On top of that, assuming that any zoning achieved on the site will be tied to using Frank Gehry, the "Gehry-factor" will have to be considered as well (a bait-and-switch like on the Westinghouse site will be unlikely).
In the end, the whole concept is premised upon a thriving condo market and the confidence of a third-party developer in building 2,600 units in this location, in incredibly expensive towers, and in paying the land price needed to cover the costs mentioned above.
I don't see why the city should dictate whether there is a theatre in the complex - that's David Mirvish's line of business, and if he has a need for it I am sure it will be in his own interest to build a new one. No need to saddle on a requirement that might sink this project. Besides, it isn't like the city exactly doing that great job with all the theatre space it has. Frankly, the increased use of Ed Mirvish and Elgin/Wintergarden as a result of this move might prove to be beneficial to revitalizing Yonge.
AoD
Hope Mirvish has the class to send a consolatory basket of ice cream and other comfort food to the tear stained wretches at Toronto Water and Toronto Hydro's capacity planning teams. When you see plan-busting proposals of this sort you really wonder how the hell utility planners - be they telecom, water, sewer, power etc. - are supposed to do their jobs properly. It's unfair to single out this development I know, but there are consequences to this unbridled growth - look at how promises were broken to the TRHA in respect of the Roundhouse because Hydro couldn't fit enough capacity below floor level which they originally thought would be sufficient.
I found this piece on theatre capacity in Toronto thought provoking. Have only been to the PoW once and wouldn't consider myself knowledgeable on theatre generally so am being educated somewhat by this development.There is considerable cynicism about this proposal, generally centered around the fact that Mirvish appears too late into the condo market to make this whole thing fly. Paraphrasing what I've read in the papers, and in comments today, maybe Mirvish is not such a brainiac, but heck, discussions have been going on for a year, he's quite serious. Speaking for myself, I am pretty torn about losing the theatre, not that is is architecturally significant, but rather, it is the only one downtown possessing super sightlines combined with all the modern conveniences ( and it can fit a helicopter in its flytower ... remember that? ).