34 floors is correct - I don't have any specific info on the section 37 benefits - my guess is the city tried to extract more concessions from the developer then was legally appropriate or that the section 37 benefits were not tied closely or directly enough with the development and immediate surrounding community.
 
Workers were removing the tall Speedy Sign this morning and muffler operations appear to have discontinued.
 
I really like this project, I don't see why it's sales have been slow.. (relatively) I think its quite unique, in its presentation centre, its style, its architecture, and location. It's not too expensive either, If i liked that neighbourhood, than maybe I'd consider a unit there. (I'm more of a yorkville boy myself)

Any idea when the estimated ground breaking is?
 
sales were going slow probably because it was still in front of the OMB until recently. Now that it has been approved by the OMB and is going to go ahead, sales may pick up again.
 
How about 20 M5V-style condos in a row? Where in downtown Toronto is there the land/crappy plazas to accomplish this task? Bathurst between Bloor and Dupont? yeah vote for me as mayor and i'll smash those rundown student slums and turn them into 10-story Freedvillas! (with colour)

The ads claim m-five-vee is 60% sold and construction begins next Spring--probable so around time the Ritz C is finished the m5v owners can flip for a 30% gain.....

My current project: counting by each grid to determine how many under-utilized lots exist south of Bloor St then multiplying by 100 people (being conservative here with 8 story average--80 units/lot) to get an understanding of just how overpriced the current condo market has become.
 
I was told they are breaking ground in February 2008. The move in date is Nov 2009. There is no way they will make that date, especially since they have now been approved for 34 floors (originally 30 was what they were expecting to get approval for).
 
unimaginative2 said:
I thought this building wasn't approved, and now they're expanding it?
Click to expand...

Original application was for 34 floors which wasn't approved, they only got 30 from the City. Their appeal to the OMB for 34 floors was approved, which is what they will build.
 
If they are already boarding up the lot maybe they will start demolition soon and construction earlier than the Feb 2008 start date i was told.
 
lazarus said:
If they are already boarding up the lot maybe they will start demolition soon and construction earlier than the Feb 2008 start date i was told.
Click to expand...


Are you asking a question or dropping some insider news? Seeing as this was a auto body shop of sorts, I'm sure even once the earth is removed the Ministry of Environment will have to give the site a green light for construction before it moves ahead. Feb seems realistic still, maybe even a bit early.
 
Last time I was in the sales centre they were re-designing the East-facing units because the City would not allow them to build that close to the edge of their lot.
They architects were going through a re-design on many of the units in the building. I know this was slowing down sales due to the fact they couldn't set a price to many of the units because they didn't know the exact square footage.

Secondly, the OMB may have given them the height increase due to the city making them scale back the footprint the tower will have.
 
Hmm. My girlfriend bought an East facing unit on the 7th floor. I hope any redesign does not affect her suite, unless it makes it bigger. :)
I do know that they were dividing up a few of their larger suites into two smallers ones due to demand for smaller units. I also noticed on the http://www.m5vlife.com website that they hooked up with Sotheby's realty to push the expensive units ($1-4 million) to international clients.
I am surprised that this building did not sell out quicker. The M5V prices are on par with Freed, 550 Wellington and 650 King St W.
 
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