[greenleaf]

City has dropped the application on their site: http://www1.toronto.ca/wps/portal/c...nnel=4b4452cc66061410VgnVCM10000071d60f89RCRD

 

[AlvinofDiaspar]

Thank you! I have been waiting for this one. Time to feast on the contents.

First interesting note - there is a potential future subway connection at the NE corner mezzanine - from the architectural plans:

AoD

 

[Edward Skira]

Every large development proposal in the city should take a look at this project closely. Love the variety in the look, height etc. Reminds me a bit of Yorkville.

 

[Skeezix]

I do believe property taxes are higher on purpose-built rental buildings than they are on condo buildings. I thought developers interested in getting into the rental game were building projects as condos and just retaining the ownership to all the units themselves.

This allows you to pay lower property taxes and have the added bonus of easily unloading some or all of the units at any time in the future. Or am I missing something?

For more than a decade, new rental has been taxed at the same rate as condo. But you're correct that some of the "rentals" being constructed are actually condos where all the units are (for now) held by one entity.

 

[ShonTron]

Looks very promising. I really like what Westbank did for the Woodward's site in Vancouver, so I am encouraged by these early plans for the site.

 

[wopchop]

For more than a decade, new rental has been taxed at the same rate as condo. But you're correct that some of the "rentals" being constructed are actually condos where all the units are (for now) held by one entity.

I was under the impression that the City is working towards harmonizing the tax rates over a number of years, is this no longer the case?

 

[Northern Light]

I was under the impression that the City is working towards harmonizing the tax rates over a number of years, is this no longer the case?

The current plan, so far as I understand, reduces the corporate and multi-res (rental) property tax rates down to 2.5 x the single-family residential rate (from as high as 4.0). But does not contemplate full equality btw single-family and rental rates.

 

[Skeezix]

I was under the impression that the City is working towards harmonizing the tax rates over a number of years, is this no longer the case?

The current plan, so far as I understand, reduces the corporate and multi-res (rental) property tax rates down to 2.5 x the single-family residential rate (from as high as 4.0). But does not contemplate full equality btw single-family and rental rates.

That all applies to pre-existing rental. As I understand it, the City created the New Multi-Residential Property Tax class in 1998, equivalent to the residential tax rate. The objectives were to encourage rental construction, and to make rental replacement feasible in the case of redevelopments. It applies to new rental, but not rental constructed before the class was introduced.

 

[greenleaf]

Lots of stuff here, may or may not be involved with this site. The city determined that Mirvish Village should not be an HCD, which is interesting.

Inclusion on the City of Toronto's Heritage Register - Bathurst-Bloor Properties

 

[AlvinofDiaspar]

Minutes from the July DRP:

http://www1.toronto.ca/City Of Toronto/City Planning/Urban Design/Files/pdf/DRP/DRP 2015/DRP FINAL Minutes July 2015_2.pdf

And the Preliminary Report from the Oct TEYCC:

http://www.toronto.ca/legdocs/mmis/2015/te/bgrd/backgroundfile-84053.pdf

AoD

 

[nrb]

I do believe property taxes are higher on purpose-built rental buildings than they are on condo buildings. I thought developers interested in getting into the rental game were building projects as condos and just retaining the ownership to all the units themselves.

This allows you to pay lower property taxes and have the added bonus of easily unloading some or all of the units at any time in the future. Or am I missing something?

Development charges and property taxes are not the same thing...

 

[CML]

I support many aspects of this development including the fine-grained retail along Bloor St. However I think the city is justified to have concerns about the preservation of Markham St.

That stretch of Markham is one of the few examples in this city where we have retail in historic old homes. The development should reinvigorate Markham but not completely overwhelm it or change its character.

 

[Edward Skira]

That stretch of Markham is one of the few examples in this city where we have retail in historic old homes

A lot of the older retail strips in Toronto are converted old houses.

 

[W. K. Lis]

Kensington Market is basically converted old houses.

 

[CML]

A lot of the older retail strips in Toronto are converted old houses.

My point is that this is a highly successful urban street that should be a model for others. Having this proposed scale of massing pressing right up against Markham and looming over the old Victorians isn't good design IMO. It's not sensitive to the existing built form.

Also - some of the old homes on Markham are being torn down needlessly as part of this proposed development.