New docs posted April 1: http://app.toronto.ca/DevelopmentAp...4480351&isCofASearch=false&isTlabSearch=false

The development now includes a bridge between building 8A and building 8B:
181426
 
PMT said:
New docs posted April 1: http://app.toronto.ca/DevelopmentAp...4480351&isCofASearch=false&isTlabSearch=false

The development now includes a bridge between building 8A and building 8B:
View attachment 181426
Click to expand...
I believe the bridge was already in the proposal, just never profiled like it is in this SPA

I really love how the ground floor has a dedicated bike passage into a shared bike parking. Makes it so much easier to roll your bike through the lobby and store it in a safer place than the parking garage (where bikes will and have gotten stolen). A little disappointed that the three buildings have very little retail at grade. I understand the small pedestrian street having a quieter and more private nature, but Mill St feels like it wants more animation. Some of the townhouses at grade look optimistically narrow. Also, have to appreciate the lack of jutting out balconies on all three buildings, will make for some slick, clean architecture.
 
Looks like retail is being kept off of Mill in favour of promoting it on Cherry and Front: it's pretty much impossible to make retail work on every street.

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So federal govt invests approx $350 million for 750 units, or about $450k/unit. Does anyone know how this works - is this a loan they give to the developer that will be repaid? Or does the govt get an ownership interest in the building and a cut of the profits?
 
Star Fox said:
So federal govt invests approx $350 million for 750 units, or about $450k/unit. Does anyone know how this works - is this a loan they give to the developer that will be repaid? Or does the govt get an ownership interest in the building and a cut of the profits?
Click to expand...
I want to say it is a grant, from CMHC.

My understanding is that they are rolling in more money than they know what to do with, because they don't have all that many applications, and there would be worry about changes in funding following the next election.
 
Star Fox said:
So federal govt invests approx $350 million for 750 units, or about $450k/unit. Does anyone know how this works - is this a loan they give to the developer that will be repaid? Or does the govt get an ownership interest in the building and a cut of the profits?
Click to expand...

I think it's a couple different programs.

The Affordable Housing Fund only had about $200M Canada wide but there is also a "National Housing Co-Investment Fund" which offers low interest (government rates) loans for construction. I expect the $357M is a blend of those 2 programs; most (the market-rate units) repayable over a 10 year period, some public housing as a grant.

They push energy efficiency in the press release too; so part might be a green grant.
 
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