Guess that means the Cloverdale Mall redevelopment isnt going ahead anytime soon either.

Sad to this one fall through, it was actually a very good proposal. I dont even want to think what the next iteration would be like, whenever that day comes again.
 
bsky.app

Tim MacDonald (@realtimmacdonald.bsky.social)

Another #housing #construction #project bites the dust in #toronto. Removed from the #mattamyhomes website is #theclove, a 30ish storey tower that was to be built on a former gas station and beer store along #Dundas street near #hwy427.
bsky.app bsky.app

Is this thing going to flip to rental or does Mattamy not do rentals?
 
Tim MacDonald said:
bsky.app

Tim MacDonald (@realtimmacdonald.bsky.social)

Another #housing #construction #project bites the dust in #toronto. Removed from the #mattamyhomes website is #theclove, a 30ish storey tower that was to be built on a former gas station and beer store along #Dundas street near #hwy427.
bsky.app bsky.app

Is this thing going to flip to rental or does Mattamy not do rentals?
Click to expand...

@ProjectEnd is likely better positioned to speak on this specific project; but yes Mattamy has had its hand in rentals as does Quadreal (in a bigger way)
 
I mean what else would it be, unless it's getting expropriated or something for some unknown government project. Or Quadreal / Mattamy is just dumping large scale redevelopment entirely and going for some low-density interim use.
 
1759332490448.png

Ouch. Not even 10% sold!

Maybe it will become a new and bigger LCBO.
 
Great can we re-open the Beer Store and Gas Station now? Or will this become purpose built rentals? So many sites in this part of Etobicoke have been demolished only to languish due to the downturn.
 
darth_freeman said:
Great can we re-open the Beer Store and Gas Station now? Or will this become purpose built rentals? So many sites in this part of Etobicoke have been demolished only to languish due to the downturn.
Click to expand...
You've got to read, man:
ProjectEnd said:
No rental here. Can't say anything more than that for now.
Click to expand...
Tim MacDonald said:
September 28th update.
The Beer store has vacated the premises and a fence with gates at the east driveway to The East Mall Cres and a gate at the bridge on the western side leading to Cloverdale mall are in place. No longer a shortcut to bypass the light to cross The East Mall on the way to Dundas. Photos on my Bluesky to follow in a couple days/week. It was a busy shooting day with absolutely premier conditions!
Click to expand...
 
Admiral Beez said:
If these developers do not pivot to making what potential homeowners (not investors) want and can afford, they’re done. We need to come up with another way.
Click to expand...
Force banks and lenders to rid themselves of the 70% presale requirement and things would get better overnight. This, however is anathema to those parties (who are by nature allergic to risk), so without any pressure from the federal government and BoC, which are likewise scared shitless of their major financial institutions, this won't be happening any time soon.
 
^ major step forward needed to reset the industry. Everyone needs to chip in: trades need to finally bring down their irrational, totally unjustified prices, government fees and taxes need to be cut down to come back to reality. We have a cost crisis and everyone needs to give up their larger-than-required slice of the pie.

What items are taxed most heavily (>30%) in Canada? Booze, cigarettes, gas, and HOUSING. All things that are “bad” for us, with the exceptional of housing, which we can all agree is needed, badly. Economics 101 - incentivize what you want more of, NOT the opposite. Governments need to come to the table and help unlock things.
 
Just saw this in the Toronto Star. So, this is just one building not being built in the area and not the entire Cloverdale Mall project?
 
GameOnBrad said:
Just saw this in the Toronto Star. So, this is just one building not being built in the area and not the entire Cloverdale Mall project?
Click to expand...
Correct. The article missed the boat completely. If you look closely at the “massive condo development” rendering that was used in the article, it actually doesn’t even have the one building that was actually the project in question.

Typical click bait headlines! What else is new.
 
GameOnBrad said:
Just saw this in the Toronto Star. So, this is just one building not being built in the area and not the entire Cloverdale Mall project?
Click to expand...

The entire Cloverdale project never went to market. Only this one building did. That doesn't mean the rest would not have begun to happen, had the market stayed hot, but that's an alternate reality.

So yes, one building is cancelled.

But the rest isn't cancelled because it was never in the market in the first place.
 
You must log in or register to post here.

Back
Top