Automation Gallery said:
He did and he did it right, Lets put it this way....if Stollerys hadn't been demolished at the time it would have been embroiled in so much red tape that you would have never seen a project of this magnitude built at this location
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This accords with what I believe as well. Mizrahi did not order the immediate destruction of the Stollerys stonework just for "The Evulz", he did so because if he had not done so, the whole project could have been entombed in red tape for who knows how long. By moving first, he prevented the possibility of a hold on demolition that could have lasted many months or maybe years.
 
Poor Dead Horse.

He was not in the right to haphazardly destroy any heritage elements to avoid "red tape". Do you guys even appreciate what your saying? Processes exist for good reason even if they may not make the most sense in every situations. The support from some forumers of Mirzahi circumnavigating procedure just because there was a strong case against Stollery's designation and he also proposing a landmark tower is shocking to say the least. I'm not surprised by others though.
 
We need more developers like Mizrahi who are ambitious and want to leave a mark on this city and not leave us with mediocrity like so many in this city are doing.
 
Automation Gallery said:
Damn, you have to be a subscriber..lol
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My takeaways from the G&M article (hopefully summarising an article like this is OK) :
  • Ground breaking on Thursday,
  • A brokers event at Roy Thomson Hall on October 16.
  • secured financing in late August after other financiers had been scared off by legal battles with former associates.
  • Financing includes:
    • $213-million debenture from a "newly formed Canadian subsidiary of a Beijing-based state-owned enterprise, the China-East Resources Import & Export Co. (CERIECO) " (with more to come as needed)
    • a first mortgage for $135-million from Firm Capital Corp. at 9%, due Septenber 1, 2018
    • a second mortgage for $61.5-million at 13% from One Bloor Lender GP Inc
  • 7000 people on a waiting list for 416 units
  • first 18 stories house retail, a hotel (11 floors) and 2 major tenants including one "international anchor tenant" (no comment as to who that might be).
 
I didn't mean to revive a dead horse, but I guess that's what I did. I more meant to see what people were thinking now that some time as passed. I'm a little bitter cause I just wish they preserved the decorative parts - not on site, just in some form anywhere really. I don't think I'm alone in that opinion. I'm glad Stollerys is gone, I'm as pro-development as they come, I just don't agree with demolishing the artistic pieces for the sake of it.

Anyway, let's drop it, I'm excited to see this moving!
 
I'm hoping you have more than one piggybank.

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