Whistleblower

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Greenland made SPA and DPoS resubmissions early August, attached is the cover letter from Development Application Center.
East-West road seems need more discussion and progress.
1660584083747.png
 

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DSC

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The fact that there has been recent meeting with Waterfront Toronto and an exchange of significant documents recently is some grounds for hope that this development will proceed - possibly by another developer. The detailed documents posted on the Development Application site in July & August 2022 are worth looking at.
 

3Dementia

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The fact that there has been recent meeting with Waterfront Toronto and an exchange of significant documents recently is some grounds for hope that this development will proceed - possibly by another developer. The detailed documents posted on the Development Application site in July & August 2022 are worth looking at.

I checked out those docs and scratched my head. Why resubmit detailed SPA documents prepared by HPA this month (presumably addressing outstanding SPA issues)? Prepping for a sale of the land/project by crossing t's and dotting i's?

Here's my attempt at a recap of this mess (corrections welcome):

On the macro level, this one seemed headed to the trash bin, with most of the discussions centred around the impending financial implosion of a number of large Chinese developers, including Greenland whose “junk bond rating” was downgraded again this past May by S & P to “CC” from “B-“, just 2 steps away from default.

On the micro level, Greenland has been trying to resolve issues around a new east-west road that would cross their site and the sites of 2 other properties/developers (Rom Grand - 178 Queens Quay E and Empire -162 Queens Quay E). We don’t know the status of those discussions. Greenland submitted their Draft Plan of Subdivision late last year.

After receiving shoring and excavation permits, partial excavation/soil remediation work was done and the site was occasionally busy until everything stopped early January this year.

What will happen next? Don’t have a clue. Thoughts and corrections welcome.
 

DSC

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I checked out those docs and scratched my head. Why resubmit detailed SPA documents prepared by HPA this month (presumably addressing outstanding SPA issues)? Prepping for a sale of the land/project by crossing t's and dotting i's?

Here's my attempt at a recap of this mess (corrections welcome):

On the macro level, this one seemed headed to the trash bin, with most of the discussions centred around the impending financial implosion of a number of large Chinese developers, including Greenland whose “junk bond rating” was downgraded again this past May by S & P to “CC” from “B-“, just 2 steps away from default.

On the micro level, Greenland has been trying to resolve issues around a new east-west road that would cross their site and the sites of 2 other properties/developers (Rom Grand - 178 Queens Quay E and Empire -162 Queens Quay E). We don’t know the status of those discussions. Greenland submitted their Draft Plan of Subdivision late last year.

After receiving shoring and excavation permits, partial excavation/soil remediation work was done and the site was occasionally busy until everything stopped early January this year.

What will happen next? Don’t have a clue. Thoughts and corrections welcome.
My (uninformed) guess is they are trying to tidy things up so that they can sell the site/project to another developer with most (or all?) permissions received. What that means for current purchasers is unclear but if I were one I might be starting to look for somewhere else!
 

Whistleblower

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I checked out those docs and scratched my head. Why resubmit detailed SPA documents prepared by HPA this month (presumably addressing outstanding SPA issues)? Prepping for a sale of the land/project by crossing t's and dotting i's?

Here's my attempt at a recap of this mess (corrections welcome):

On the macro level, this one seemed headed to the trash bin, with most of the discussions centred around the impending financial implosion of a number of large Chinese developers, including Greenland whose “junk bond rating” was downgraded again this past May by S & P to “CC” from “B-“, just 2 steps away from default.

On the micro level, Greenland has been trying to resolve issues around a new east-west road that would cross their site and the sites of 2 other properties/developers (Rom Grand - 178 Queens Quay E and Empire -162 Queens Quay E). We don’t know the status of those discussions. Greenland submitted their Draft Plan of Subdivision late last year.

After receiving shoring and excavation permits, partial excavation/soil remediation work was done and the site was occasionally busy until everything stopped early January this year.

What will happen next? Don’t have a clue. Thoughts and corrections welcome.
They also resubmitted their Draft Plan of Subdivision along with the SPA resubmission.

CITY wants full road as a condition in DPoS but Greenland seems can't promise as lands needed for E-W road are owned by 4 parties (Greenland, Toronto Real Estate (part of City), Rom-Grand and Empire), Urban Strategies (Greenland's planner) mentioned as "inability and impractability of the Owner of the site to construct infrastructure over lands to which they have no access".

And, there could be something else to stop from them from construction - could be funding as well.
If they do want to sell the project, take over developer would want full approval + permit before negotiation, in my opinion.
 

Northern Light

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The fact that there has been recent meeting with Waterfront Toronto and an exchange of significant documents recently is some grounds for hope that this development will proceed - possibly by another developer. The detailed documents posted on the Development Application site in July & August 2022 are worth looking at.

I like this bit, Silva Cells have been added to the landscape design:

1660748663558.png
 

3Dementia

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My (uninformed) guess is they are trying to tidy things up so that they can sell the site/project to another developer with most (or all?) permissions received. What that means for current purchasers is unclear but if I were one I might be starting to look for somewhere else!
I suspect you're right.

My S & P ratings for a new developer here:

S (stupid choice): Madison, Aspen Ridge, Graywood, Plaza, Bazis

P (perfect choice): CentreCourt (2 construction cranes within 2 months ;-), WestBank, MOD, DREAM, Hines, RioCan, Menkes, Great Gulf (co-partner with DREAM only)

S & P Waterfront absolute "no fly zone": Concord, Pemberton, Daniels (enough damage already done)
 
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