maestro
Senior Member
But "it's just the market we have" doesn't hold up. Look at other cities of a similar or smaller size with much more interesting architecture—it's simply not true that Toronto doesn't have the economy or wealth to support interesting building design (as is partly evidenced by what of it we do have). $5B in real estate sales isn't necessary to do something great; remember, too, that acquisition and building costs are significantly higher in cities such as New York. The land acquisition costs for *part* of the land at the residential project at 432 Park Ave., for instance, were over $400 million. Similarly, the cost for 30 Hudson Yards—in a previously derelict part of Manhattan—were nearly $200 million, and Related had to build a $721 million platform just to construct a $3 billion tower atop it. Toronto developers simply don't face costs at that scale for similar projects—Mizrahi paid a reported $300 million for the lot where the One is to be located, one of the most prominent in the city. $5 billion-worth of sales aren't necessary (or possible) in Toronto because the costs aren't as high.
@FMCS makes a good point: Developers can (and do) settle for building large boxes because they can. It's their choice not to leave a legacy of any sort, where developers all over the world (and in Toronto in some cases) choose to make something special. I just wish more would opt for the latter, and I think any and all forms of public support for that sort of thing can't hurt.
City size is irrelevant. Interesting is non specific. Please provide examples of these markets that are producing, on average, better, privately developed, architecture for the entry to mid level range. ( materials such as window wall vs curtain wall notwithstanding)
Cost of land is only part of the equation. None of these towers would be have been contemplated if not for a market willing to pay $50 to $120 million for an apartment. You wouldn't have the expensive density transfers or razor thing massing to extend a FSI of about 20 to 400 metres in height. By no means is Toronto cheap to buy property either which is why our mid ranged product costs more than the typical luxury offerings in most US markets so price point (as a comparison) only takes you so far.
Interesting is fair description for Miami. Good, however, is not.
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