interchange42 said:
And Frankie Flowers says it's not a supertall, and you should listen to him.

42
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So 286m-299m? If it's a luxury condo building as appears to be the case, then assuming 4m floor heights and several double-height podium floors, that's around 70 floors.

At eight units per floor and a total land plus construction cost of around $1.5 billion, that's about $3 million per unit.
 
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LNahid2000 said:
Agreed...Scotia Plaza sold a few years ago for $1.3 billion, and that building has a much bigger footprint.
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No kidding (though keep in mind depreciation of assets). In any case, let's put it in perspective - Burj Khalifa cost 1.5B US (exchange rate and low labour costs notwithstanding).

AoD
 
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AlvinofDiaspar said:
1.5B sounds really, really high.

AoD
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It probably is, I was going by a post somewhere that stated that with a land acquisition cost of almost $300 million, the total costs must be no less than $1.5 billion, guaranteed. So what would be a reasonable construction cost (not counting land) for a 70-floor luxury condo building, with a floorplate fitting inside the assembled land?
 
Mongo said:
It probably is, I was going by a post somewhere that stated that with a land acquisition cost of almost $300 million, the total costs must be no less than $1.5 billion, guaranteed. So what would be a reasonable construction cost (not counting land) for a 70-floor luxury condo building, with a floorplate fitting inside the assembled land?
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For condos? I would guess that contemporary examples are around 600, 700M.

AoD
 
We should be a little less obsessive about height and a lot more about quality (especially considering what we have on the north-east corner).
 
Bayer said:
We should be a little less obsessive about height and a lot more about quality (especially considering what we have on the north-east corner).
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From what the land assembly has cost, we already know that these will be very expensive condos. The buyers will be expecting luxury inside and out, and the builders will be aware of that. I would not worry about this being a cheapo project.
 
Bayer said:
We should be a little less obsessive about height and a lot more about quality (especially considering what we have on the north-east corner).
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Exactly. This location needs an architectural gem.
 
I'm having a bit of trouble with this figure of $300M that was spent to acquire property. It has already been reported that 15M was spent to get the old FCUK building. Let's say the Stollery building cost 100M (which seems high), that still leaves 185M. I can't see 3 or 4 properties south of Yonge costing that much. Is it possible he bought the H&M building or even Scotiabank.

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I has assumed it was Scotiabank, H&M, Stollery's, and all the buidings south on Yonge up to the UofT residence. All of that combined might get close to $300m. Not to mention the fact that you would need that much land to get floorplates big enough to support a department store. This could also be a two-tower project, which would explain all of the $1.5b talk.
 
I haven't heard anything about that particular H&M closing down, if it were I'd think I'd've heard by now. Not in the next year, at least.
 
I'm not in the industry, but Altus consulting has 50-80 storey high-end construction costs listed as $310-$500 per square foot in 2013. That is quite a range when considering the square footage any 70-storey building would contain. Still, if someone knows an estimate of the square footage, we could at least get an idea of the real construction costs.

The 2013 Altus report on all construction costs in Canada can be found here: http://www.altusgroup.com/media/47835/CostGuide_2013_web.pdf
I think you have to pay - or at least register - for the 2014 guide. It is interesting to browse.
 
The Jacob space in the Manulife Centre will soon be available. Possibly there?
 
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