Maybe they're just waiting for land values to continue to appreciate/are interested to see how the market shakes out over the next little while, etc...
 
Time is very expensive. Nobody waits unless they think there are big, big changes coming. If you have approvals, you generally want to move ASAP. the more you wait, the more risk you are exposed to, and the longer you have to sit with assets (land) that need to be paid for.
 
innsertnamehere said:
Time is very expensive. Nobody waits unless they think there are big, big changes coming. If you have approvals, you generally want to move ASAP. the more you wait, the more risk you are exposed to, and the longer you have to sit with assets (land) that need to be paid for.
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Right, but the financial dynamics are different when you didn't have to pay, say, $300M for the land on which you're developing. Someone mentioned Mizrahi a while ago, and this is not that.
 
I'm a little out of the loop but did they start any sales for this at all? The OCAD space continues to come up in Alumni emails they send me so seems like, for them at least, they have a large stake to claim.
 
No, sales have not started yet.

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innsertnamehere said:
Time is very expensive. Nobody waits unless they think there are big, big changes coming. If you have approvals, you generally want to move ASAP. the more you wait, the more risk you are exposed to, and the longer you have to sit with assets (land) that need to be paid for.
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Hasn't Mirvish owned the land on King Street for a long time? If he has, he might not have anything to pay for beyond property taxes, maintenance, and insurance. Those items can be covered by leasing the buildings and continuing to operate the theatre. So there's no rush. He might not even build anything.
 
junctionist said:
Hasn't Mirvish owned the land on King Street for a long time? If he has, he might not have anything to pay for beyond property taxes, maintenance, and insurance. Those items can be covered by leasing the buildings and continuing to operate the theatre. So there's no rush. He might not even build anything.
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I believe so. He owns the land and continues to collect rent from current tenants.

He's certainly not in a bind in that respect.

I recall a year or two ago he mentioned there's a certain urgency to get things moving given the fact that Gehry is 85 and he's in his 70's.

The fact that there's been no movement in terms of releasing the project, sales, is somewhat concerning.

I'll try to be positive and assuming they're simply nailing down the details to ensure it's perfect.
 
junctionist said:
Hasn't Mirvish owned the land on King Street for a long time? If he has, he might not have anything to pay for beyond property taxes, maintenance, and insurance. Those items can be covered by leasing the buildings and continuing to operate the theatre. So there's no rush. He might not even build anything.
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Possible. It's been in the family a long time. Any debt is more manageable now that he has upzoned.
 
Shall we put this thread in long-term storage? We're just talking to ourselves at this point. There hasn't been a whisper of real information in about a year.
 
buildup said:
Shall we put this thread in long-term storage? We're just talking to ourselves at this point. There hasn't been a whisper of real information in about a year.
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You just brought it out of short term storage and moved it up to the top of the list again, making everyone wonder if there was something new of substance here finally.

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interchange42 said:
You just brought it out of short term storage and moved it up to the top of the list again, making everyone wonder if there was something new of substance here finally.

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Trust me, no one had any expectations :)
And no-one is more aggravated that me :(
 
Don't think we'll see any of these designs actually built those of us who have seen the designs will be long dead if the are ever to see the light of approval
 
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