TheKingEast said:
Agreed. The newer condos are just glitzy rooming houses. I see a big problem with these 400 unit towers full of 5-600sqft 1 bedrooms. The city approves them as if there's a gun to their heads. We're going to look back at this and regret bending over backwards in the name of foreign investors who have never even step foot in the city. Development is great, but it's the kind of development that matters.
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Much less 'don't believe,' this statement is just counter factual.
 
ProjectEnd said:
Much less 'don't believe,' this statement is just counter factual.
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This is irrelevant. The point was that many apartments built now in downtown Toronto (though perhaps not in this new development, that remains to be seen) are too small, and I would really like someone versed in urban planning to tell us how this will be good for the city, regardless of the fact that they sell which is also irrelevant to urban planning.
 
I'm guessing there's no great urgency from their point of view. They've got a lot of projects on the go and they're still collecting rents from all the retailers on this property.
 
They bought these properties way before 11 Wellesley was in sight. This project does not stand out but it will have a significant impact on the overall atmosphere of that boring stretch of Yonge street. Hopefully it happens sooner than later.
 
11 Wellesley will launch in the next few weeks or so, meaning this one will have to wait - I'm guess we won't see any activity until 2015 at the earliest, and that's assuming 11 Wellesley does well in terms of sales (which it probably will).
 
Bayer said:
This is irrelevant. The point was that many apartments built now in downtown Toronto (though perhaps not in this new development, that remains to be seen) are too small, and I would really like someone versed in urban planning to tell us how this will be good for the city, regardless of the fact that they sell which is also irrelevant to urban planning.
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I agree with you, but you're preaching to the wrong crowd. Most people here are only interested in the buildings appearance.
 
its good as it fits more people per acre, creating higher density. Provided the spaces aren't sacrificing quality of life significantly (rooming homes, no kitchen, less bathrooms than needed, etc.) it doesn't really affect people. If anything it encourages people to be out on the city instead of sitting at home further increasing the neighbourhoods vibrancy. small spaces can easily be designed efficiently.

In the end it is what the market will bear as well, if people want to pay $350,000 for a 600 square foot condo, thats what people will pay. all that will occur by, say, mandating minimum unit sizes is create affordability issues. Take a look at 88 Scott, that is a building full of larger units, and it took much longer to sell as the units are so expensive. there is only so much demand for that. And yes, most of these smaller unit's buyers are final users as well.
 
innsertnamehere said:
its good as it fits more people per acre, creating higher density. Provided the spaces aren't sacrificing quality of life significantly (rooming homes, no kitchen, less bathrooms than needed, etc.) it doesn't really affect people. If anything it encourages people to be out on the city instead of sitting at home further increasing the neighbourhoods vibrancy. small spaces can easily be designed efficiently.

In the end it is what the market will bear as well, if people want to pay $350,000 for a 600 square foot condo, thats what people will pay. all that will occur by, say, mandating minimum unit sizes is create affordability issues. Take a look at 88 Scott, that is a building full of larger units, and it took much longer to sell as the units are so expensive. there is only so much demand for that. And yes, most of these smaller unit's buyers are final users as well.
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Building "homes" should be the mandate. Not vertical rooming houses and dorms. I don't think there should be a minimum unit size, but I dislike where we're headed with these 4-500 unit towers full of bachelor sized investor units and not actual "homes". Remember the days when bedrooms and doors and windows? Now anything is being passed off as a bedroom all for builders to squeeze more money out of their projects. I'm much more accepting of projects like 88 Scott because you'll get a nice mix of residents. Families, empty nesters, students, etc. I'd rather that kind of community over a building full of students. No offense to students btw. :p
 
its not like entire families are living in these bachelor units, as that comes to my point of sacrificing quality of life. A bachelor for a couple or someone living alone is fine.

you also have to look at demographics moving there. You either create a building with 3 bedrooms which students can't afford to live in (going back to my point of affordability), or a building with smaller units people can actually afford to purchase.

The trend of smaller units isn't the developers trying to squeeze in more units or anything, they earn less money on smaller units (more kitchens, more bathrooms, etc.) but that is what people are buying. The market says that there is no appetite for large 3 bedroom units, so I don't understand people who think that they need to be forced into construction. People don't want those larger units (if they did they would be buying them and developers would respond to the demand) so I don't see the point of constructing those units.

what they SHOULD be built for is easy conversion by combining units somehow if that demand were to arise in the future, but even then the new demand can likely be met with new construction.
 
CJinToronto said:
Back to the main topic.... Why is this project so slow? When will it be launched?
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greenleaf said:
Probably because Lanterra appears to be launching 11 Wellesley first.
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CJinToronto said:
They bought these properties way before 11 Wellesley was in sight. This project does not stand out but it will have a significant impact on the overall atmosphere of that boring stretch of Yonge street. Hopefully it happens sooner than later.
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I believe it was negotiations with the City that has pushed 11 Wellesley in front of 501 Yonge as it gets the park in much sooner, and Lanterra is happy to accede to the request. The park will make 501 Yonge an easier sell too once it's in. In terms of the small print, the park has become the major Section 37 benefit for 11 W and 501 Y as well as The Britt.

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Latest info will be released by the builder in Zurich Switzerland on June 21, I will be in attendance and will share with you all here shortly thereafter.....
 
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