buildup
Senior Member
Sad what this thread has devolved to.
If Mirvish had his financing in place there would've been a shovel in the ground by now.
If Mirvish had his financing in place there would've been a shovel in the ground by now.
- Thread starter golodhendil
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EastYorkTTCFan
Senior Member
I thought the main sticking point of it was the demolition of the Process of Whales theatre?
Automation Gallery
Superstar
I thought that after the sale of the Honest Ed's lands the financing would be in place, oh well it's hard to know what really is holding this up??
EastYorkTTCFan
Senior Member
Maybe they didn't get as much as they had hoped for it. Plus I think there were some issues that city council had about losing a Theatre from Downtown Toronto. The Princess of Whales is still a tourist draw for people that come up here to see plays and musicals plus it's named for the Late Princess Diana.
maestro
Senior Member
The Princess of Wales hasn't been part of the proposal for some time now. It's not at risk being demolished for the development. The zoning is long approved. I don't know the status of the site plan. The money from the sale of Honest Ed's site is, at most, a deposit. There's 1.8 million square feet proposed. If I remember correctly, the sale of the Honest Eds lands went for around $100 million.
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Contra
Senior Member
I guess something sorta like this? In any case they'll be quite impressive from the CN Tower.
Attachments
ProjectEnd
Superstar
Bit less than that.
innsertnamehere
Superstar
they would go to just below the horizon line, given the CN tower is around 330m up, and these are 305m tall.
Contra
Senior Member
Hmm...I was basing this off the height of the Theatre Park tower which is a little over 150m. Tower on the left is a bit over 300 so I simply doubled the height. I'll double check my massing!
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innsertnamehere
Superstar
Actual height would probably sit about halfway between the horizon and where you have it now. its all educated guessing in the end after all though, its a pretty good visualization as is.
Contra
Senior Member
junctionist
Senior Member
Maybe they can't get enough financing to build it to the architectural standard they want. My impression was that Mirvish really cared about the architecture. He might not proceed with the project at this point if he can't build it to the standard he wants. He probably makes a lot of money from his existing buildings on the site.
Big Daddy
Senior Member
There are scant few reasons not to at least start unit sales and project drawings if you are actually able to build. There must be a significant issue or there would at least be some chatter on the internet. The website for this project speaks only about other projects Gehry has built or is working on. It mentions little about this project except for a few aerial photos. I'm left to think they are unable to acquire sufficient financing - or they are contemplating selling the project altogether.
maestro
Senior Member
You may have a point given Gehry's history of cost overruns and Mirvish's inexperience. There's a lot of real estate ventures out there to invest in and for a lot less than the (I don't know) $400 million it will take to build one tower. There's an added risk to the investors with the property being middle of the road than say... Mizrahi's 1 Bloor West site.
ThomasJ
Active Member
lot less than that