I'd imagine it's in exchange for a bit of both. Menkes will have a significant contribution from this development themselves, and I imagine One Yonge is paying for most of the rest of it.
 
"2. City Council amend the 2018 – 2027 Council Approved Parks, Forestry and Recreation Capital Budget and Plan to include creation of a new capital sub-project called "55 Lake Shore Boulevard East - Parkland Acquisition" in the Land Acquisition project upon execution of the agreement of purchase and sale, with total project cost in 2018 and cash flow funding in year 2024 as outlined in Confidential Attachment 1 to the report..."

So I'm guessing this means the park is targeted to be built around 2024? Shame, was hoping to see it built sooner rather than later (at least by the time of Phase 1's targeted occupancy date of 2022). I don't understand why the delay - if the City owns the land, and has the parkland dedication money from the developers, why not build it? I'm assuming developer would love it being built sooner as well, would make it easier to sell the pre-construction units in Phase 2.
 
Automation Gallery said:
That's nuts, this area from Yonge to Parliament is booming with development and here the city is going to wait 6 years to build the park and and another 5-10 years to build transit, shame
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And that 5-10 years time frame is being optimistic. It's more likely to be in the latter frame of that time period, closer to 2030 with the way things move in this city.
 
Thinking about it, the old LCBO building needs to be partially demolished to make way for the park. Presumably the City can't build the park until that has happened, and the City isn't going to pay for the demolition, the developer will. So maybe 2024 is the projected start date for the Phase 2 condos (which would coincide with the demolishing of the old LCBO building).

Not only that, but the current LCBO store is where the park will be, and that won't move until the new LCBO HQ/store at 100 Queens Quay is built, which isn't expected until 2021/2022 I believe.

Still, a shame that the developer and city couldn't come to an agreement to demolish part of the LCBO building and build the park as soon as the LCBO store is vacated around 2021/2022.
 
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Star Fox said:
Thinking about it, the old LCBO building needs to be partially demolished to make way for the park. Presumably the City can't build the park until that has happened, and the City isn't going to pay for the demolition, the developer will. So maybe 2024 is the projected start date for the Phase 2 condos (which would coincide with the demolishing of the old LCBO building).

Not only that, but the current LCBO store is where the park will be, and that won't move until the new LCBO HQ/store at 100 Queens Quay is built, which isn't expected until 2021/2022 I believe.

Still, a shame that the developer and city couldn't come to an agreement to demolish part of the LCBO building now and build the park as soon as the LCBO store is vacated around 2021/2022.
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Good analysis, but don't forget that it's not all up to the developer. If the city doesn't have the money until 2024, then all of the above is moot.
 
New docs for Block 2 posted July 20: http://app.toronto.ca/DevelopmentAp...3947192&isCofASearch=false&isTlabSearch=false
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Lots has been said about the towers, but I'm also worried about the sterility and overwhelmingness of the podium at grade. Will wait for clearer renders of that area to pass final pre-construction judgment.
 
It's strange that they put so much effort into marketing this project with flashy TV commercials, yet they neglected both the tower and podium architecture. It looks like it could be built anywhere from Vaughan's nascent city centre to Southcore. There's no interest in placemaking or the finer-grained urbanism associated with popular neighbourhoods like Yorkville or King West. It would be easier to sell this project if it offered a more compelling design.
 
junctionist said:
It's strange that they put so much effort into marketing this project with flashy TV commercials, yet they neglected both the tower and podium architecture. It looks like it could be built anywhere from Vaughan's nascent city centre to Southcore. There's no interest in placemaking or the finer-grained urbanism associated with popular neighbourhoods like Yorkville or King West. It would be easier to sell this project if it offered a more compelling design.
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Unfortunately this project is just selling just fine, without a more compelling design :(
 
That's the sad part. I know I'm repeating myself but as long as people are paying up $1K+ psf for this nonsense, this is what we're going to get. Menkes literally paid for architecture plans on one building and copied 6 times... if you take Harbour Plaza into consideration as well, since they're exactly the same except for the balcony treatment.

That's a smart business plan. Kudos to them for pulling it off. You can only blame those who accept this.

TheSix said:
Unfortunately this project is just selling just fine, without a more compelling design :(
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Why are there TV commercials for the project? Most builders manage to sell their units without incurring the expense.
 
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