deranged said:
Agent called me and said this project has been delayed until September. The entire design and floor plans have been revamped per request from the city. They want the building to have a more iconic design.
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Keeping my fingers crossed that something good may come out of this. But after seeing how the DRP butchered 88 Scott and reading the BL interview i most probably will be disappointed. :(
 
deranged said:
Agent called me and said this project has been delayed until September. The entire design and floor plans have been revamped per request from the city. They want the building to have a more iconic design.
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Gee, how iconic can a 250m building be by a 1/2 dozen other buildings of similar height......if they want iconic i sure hope they not only change the design but add another 50-100 meters to its height.
 
urbandreamer said:
It's because the market is slow...investors aren't interested in buying and this is an investor product. 101 Erskine appeals more to locals.
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I wonder if developers are starting to get worried that with really big projects like this they may miss the boat on the condo boom.

But I have to say, the fact that they're wanting something more like Marilyn can only be good for city. It's great to see that they're recognizing this spot as such a prominent location on the skyline, especially when viewed from the lake.
 
AlvinofDiaspar said:
Waterfront Toronto Design Review Panel. Sorry the L is a typo. The report I have posted earlier in the thread is from there.
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Force of habit :p.

I'm pretty sure if you did a compilation of the most common technical words used on UT, DRL would probably be one of them!
 
It may be a bit late to request design changes, seeing as most of the buildings around it are boring glass columns. Besides is it only a request, or a demand. Big difference. I know the city owns part of it, but do they have enough pull to actually get major changes done? Add a few more floors, and icon may be warranted.
 
Agents, nowadays, are privy to some insider information however, this is huge and late in the process to go off on an entirely different tangent. Bringing up "Marilyn" only makes more more skeptic of the truth to this rumour.
 
maestro said:
Agents, nowadays, are privy to some insider information however, this is huge and late in the process to go off on an entirely different tangent. Bringing up "Marilyn" only makes more more skeptic of the truth to this rumour.
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I agree, probably just a bunch of people blowing a lot of smoke...nothing happening here except sales
 
Johnzz said:
I think you’ll find more and more of these large projects put on “hold”.

It’s beginning to feel like 2008…
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I've been saying, since 2008, that 2012 was going to be an echo year to 2008. The crash all happened in late 2007, early 2008, when all those horrible mortgages and financial funny business came to a head. However up until that point there still were a lot of toxic mortgages being handed out, most of those mortgages have a 5 year renewal term. 2007 + 5 years put us in 2012, early 2013. This is why I feel that governments want/need to keep interest rates low. When all those people who signed up for those low interest rate mortgages come back for a renewal and find that the can't afford their mortgage at the new higher interest rates, let alone be able to get approval... There is going to be some struggles until all these things get out of the system.
 
Woodbridge_Heights said:
I've been saying, since 2008, that 2012 was going to be an echo year to 2008. The crash all happened in late 2007, early 2008, when all those horrible mortgages and financial funny business came to a head. However up until that point there still were a lot of toxic mortgages being handed out, most of those mortgages have a 5 year renewal term. 2007 + 5 years put us in 2012, early 2013. This is why I feel that governments want/need to keep interest rates low. When all those people who signed up for those low interest rate mortgages come back for a renewal and find that the can't afford their mortgage at the new higher interest rates, let alone be able to get approval... There is going to be some struggles until all these things get out of the system.
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Your theory would hold, if interest rates had actually gone up since 2008. They haven't, so renewing mortgages this year or early next year won't make it any more difficult for home owners to make their payments.

If everyone can make it to their next renewal period and decide to lock in at these historic low rates, they would survive 10 years without worries of increased rates. By time everyone comes up for renewal at that 10 year mark, they would have paid over 1/3rd of the principal towards their property, putting them all in a better position to handle an increase in rates at that point.
 
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joey_122@hotmail.com said:
is the condo boom over do you think that a lot of theese projects coming up are going to have a hard time selling :(
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The end of the boom will come with more than a slight slow down in sales of new condos. As of this moment, I see no reason why this round of pre-selling project won't proceed as planned.
 
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