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DtTO
Active Member
Didn't sound condescending to me, nor was the information provided as "obvious" as you imply. I think we'll see construction by the end of summer, not end of the year.
bmiller
Active Member
I thought it was a bit condescending, but i'm not sure it was meant to be that way or not. Not all of us have the insight that some have.
brockm
Active Member
Nah. Just a few more months of these worsening condo sales figures and this and every other project without shovels in the ground will be put on indefinite hold.
Automation Gallery
Superstar
DtTO
Active Member
Anyone can make sales look bad by comparing them to the best year on record. Condo sales in Toronto have been pretty resilient for almost a decade now.
TOCondoGarden
Active Member
Okay THAT made me laugh. This project is one of the most successful sales launches in recent memory and is 90% sold...and yet people think it won't be built because of negative media articles about an impending condo collapse/end of all things scenario?? I read those same Globe/Star/Sun articles 15 years ago, and 5 years ago, and today....the media is in the business of selling news (by rehashing old news, in this case).
People like me love living in TO and love living in a high-rise. Can't see that changing anythime soon or there being a mass exodus of every condo dweller or investor to the 'burbs haha
Likely an end of summer start with this one.
People like me love living in TO and love living in a high-rise. Can't see that changing anythime soon or there being a mass exodus of every condo dweller or investor to the 'burbs haha
Likely an end of summer start with this one.
jetsbackincanada
Banned
Okay THAT made me laugh. This project is one of the most successful sales launches in recent memory and is 90% sold...and yet people think it won't be built because of negative media articles about an impending condo collapse/end of all things scenario?? I read those same Globe/Star/Sun articles 15 years ago, and 5 years ago, and today....the media is in the business of selling news (by rehashing old news, in this case).
People like me love living in TO and love living in a high-rise. Can't see that changing anythime soon or there being a mass exodus of every condo dweller or investor to the 'burbs haha
Agree TOTALLY!!!!!!!!!!!!!
I also think that a downtown can reach a tipping point where, the sales will become more of a staple of the real estate market.
Here in Mpls, a condo is a rare build esp the type of walkable urban density that New York or Toronto provides... To move downtown here, is to move into a ghost town, and is very much less desirable than a city with a built up core full of people and the related services and amenities.....
So much of the things needed to exist without a car, is provided in a large downtown core, and the more people you add the easier it becomes to keep adding more...
To move down town here, you still need a car to get to a grocery store off a free way some where..
I think Toronto has passed that threshold !
innsertnamehere
Superstar
Minniopolis is on it's way I'd say, the new LRT lines are helping and there are a couple of apartment buildings going up downtown.
jetsbackincanada
Banned
I agree the light rail is good.... but very limited.
A second line is coming online next year, but this is a car DOMINATED area, the metro sprawls forever..
Many people are amazed I live with out a car...
The sad state of development here is frustrating, I have watched Toronto build 60 ? towers last 10 years, and we are building 4 story garbage.....
People are very spread out here, no real density anywhere!
innsertnamehere
Superstar
Still one of the, if not the best midwest city for urban walkable developments. Isn't there a couple of 20+ floor apart,eat buildings going up downtown?
jetsbackincanada
Banned
Honestly , I feel like development here is an " epic fail" as the kids would say.
As far as walkable goes??? Everyone I know has a car it seems.... walkable here means, lets go to one of the urban lakes and walk around it... not walk to the fruit stand , grocery store and coffee shop...
There may be a couple small things underway down town, but back in 2000 when Toronto's boom was getting started, we also built a couple cool condo towers..... (Like the Carlyle).... there was plans for many more, and demand and the economy ruined all that ....
In the last 8 years, the south side has been completely redeveloped, along Lake st and Lyndale areas, ( Uptown) all 4 storys... Literally like 15 complexes!! ( epic fail)
Such a missed opurtunity, to increase tax base and revenue for the local business!.
All the while Toronto builds taller and taller, allowing more and more vibrancy and revenue streams, to be kept entirely in the core, as opposed to some cul de sac community..UGGGHHHHHHHHH
You all need be more thank full, for the success of this new emerging city, and I see it as the way citys will survive and evolve in this next century, beyond the auto , and sprawl!!!....
GO TORONTO.... Vancouverism or not, its the way of the future......
I cant help but ride my bike by these new areas and wish for an M5V, a Crystal Blu, and a Charlie, some ROCP, and City Place... Give us your worst towers...PLEASE!!!!!
I know they would never build Aura or Ice here, not even down town, not anytime soon anyway.
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brockm
Active Member
Okay THAT made me laugh. This project is one of the most successful sales launches in recent memory and is 90% sold...and yet people think it won't be built because of negative media articles about an impending condo collapse/end of all things scenario?? I read those same Globe/Star/Sun articles 15 years ago, and 5 years ago, and today....the media is in the business of selling news (by rehashing old news, in this case).
People like me love living in TO and love living in a high-rise. Can't see that changing anythime soon or there being a mass exodus of every condo dweller or investor to the 'burbs haha
We'll see. How many of those pre-construction sales are investors? I'm betting the majority. How many of those investors will stick it out if it's clear that condo prices are tanking? I'm betting not very many.
Youranthony1
Active Member
Investors really have no choice but to "stick" once the deal is done.
brockm
Active Member
Depends how big the deposit is. If it's less than 10K, it might be a lot easier to walk away from if you're scared of the market than you might think for a lot of these foreign investors, especially. But even if it's near 20K, if the market falls off say 10% in the next 6 months, I think you'll see a lot of people cutting their losses and not wanting to wait out a lull.
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