GreenCity said:
And you'd be right! The overhead cost of a project of this scale in mid construction is mind boggling, between site costs and finance. I don't know what their financing costs are given it's not with a conventional local bank, but I'd guess it's not less than $750k/month, and I wouldn't be shocked if it's over $1m/month.
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So you're right that since construction isn't at its peak that the construction overhead hasn't peaked, but it is still around $750k-1M/ month now (which is a crazy $20-30k per day!) and it will only be higher in a year from now. But the overall overhead peak is by the end of construction when the loan size will be at its maximum size.
 
I'm only being slightly facetious but I would peg the highest costs here to be the insane amount this guy spends on advertising. I have never seen a more widely marketed condo project in Toronto, ever.
 
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Miles Gilbert Horton said:
I'm only be slightly facetious but I would peg the highest costs here to be the insane amount this guy spends on advertising. I never seen a more widely marketed condo project in Toronto ever.
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A dual page spread in the Post costs about $25K. They've certainly been running a bunch of those, but bricks and mortar (et al) cost a helluva lot more than marketing.
 
ADRM said:
A dual page spread in the Post costs about $25K. They've certainly been running a bunch of those, but bricks and mortar (et al) cost a helluva lot more than marketing.
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Of course once the project is underway the building envelope costs will dwarf advertising and marketing. I am referring to the current spend. And it isn't just the National Post. It is every form of local media. Look around you can't help but be inundated with it. I find that very unusual for one building with 400 units.
 
Miles Gilbert Horton said:
Of course once the project is underway the building envelope costs will dwarf advertising and marketing. I am referring to the current spend. And it isn't just the National Post. It is every form of local media. Look around you can't help but be inundated with it. I find that very unusual for one building with 400 units.
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So far lots of sizzle and no steak.
 
Miles Gilbert Horton said:
Of course once the project is underway the building envelope costs will dwarf advertising and marketing. I am referring to the current spend. And it isn't just the National Post. It is every form of local media. Look around you can't help but be inundated with it. I find that very unusual for one building with 400 units.
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Offshore buyers are scarce.. it's become hard to sell luxury real estate these days.
 
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I''m curious to know their hour by hour pour schedule. Concrete is notorious for potentially curing within the truck if improperly treated and not deposited. And even that's an issue because the more water you add (to keep it liquid), the less strong the mix.
 
Feb 16
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Mongo said:
No, lots of sizzle and also lots of steak.
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Where's the steak? Coming up 2 years soon and there's a hole in the ground with some deep footing drill holes......or maybe you just don't know what the expression means. If you want pure steak and no sizzle, I suggest you look at CIBC Square.
 
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