Parkdalian said:
I think it's disappointing that the only use people can think of for that space is an Apple store. I think it says a lot about the retail landscape (there is almost no mid-market retailers who imagine their retail spaces as places for experiences) and the current cultural landscape of Toronto.
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The general rule in retail is to have a GROC Gross Rent to Occupancy Cost of 10% or less. So if we assume the Gross rent is $200 PSF on 20K SF, that's ~$4M per year in rent. So a healthy operator would need to do at least $40M in revenue to support that cost. For Grocery, the target GROC is sub 5% since the margins are so low.
 
isaidso said:
Wow,, you couldn't be more off the mark if you tried. First of all, there were loads of EV companies around the world years before Musk and Tesla came along. Secondly, a ton of innovative ideas and very impressive home grown technology has gone into every inch of that car. You'd be closer to the truth if you said Tesla was the knock off.
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Okay, but what exactly is the difference? Do these companies have stores? What is going to draw people to this specific location. What does the ground floor look like? Is it a few cars, and a mostly empty show room?

Say what you will about Apple, but their stores actually draw people.
 
hawc said:
I don't know why they ever wanted to be at that corner anyway?

Yonge and Bloor is a pretty trashy intersection. Nearly as bad as Yonge & Dundas.

It's always been 'The Center of Toronto' but only in name or geography. There's certainly nothing desirable about it. Other than maybe that's where two TTC lines intersect.

There are much nicer intersections in Toronto to locate a flagship store for the biggest brand in the world. Heck even Bay and Bloor would be nicer.
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Absolutely. It's a 'B+" location at best. Apple was there for the foot traffic and presumably they were tricked into thinking the developer knew what he was doing. Clearly not the case.
 
Cryptopreneur said:
It's funny how the elephant in the room is being completely ignored still. Like nothing happened.

This building lost its glory. It's just another ugly tall building that will have a lot of empty suites. It will be cheaply made moving forward to keep losses down. Nobody takes a building seriously when the foundations it's built upon is fraud.
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Couldn't agree harder. It looks and smells like old school fraud to me as well, based on the facts presented. There is no way in hell that one half finished condo building could possibly have legitimately cost $1,600,000,000 to build. No way. This does not come close to passing the smell test on a thousand levels.

The blind cheerleading for this albatross is really quite bizarre. Clearly lots of people have lost, or are going to lose a bloody fortune, not to mention the spillover affects on the industry and local economy.
 
AdamS said:
I'm pretty sure most forum readers aren't particularly interested in the ethics or virtues of the Canadian real estate business. Nor do they worry about vacant suites or cashflow models on development proformas.
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I am interested in all of the above and find the minute by minute photostream highly superfluous.
 
Tesla said:
Absolutely. It's a 'B+" location at best. Apple was there for the foot traffic and presumably they were tricked into thinking the developer knew what he was doing. Clearly not the case.
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We haven't heard from you in like four floors. I was beginning to worry 🤣 no matter who occupies the space, it was still quite the engineering to build it so hopefully they do it justice
 
3Dementia said:
There should be a UT penalty box for endless, repetitious posts... thank goodness for the Ignore list. Congrats... you made it T!
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Off-topically: A science blog I have been faithfully reading for awhile used to have an active dungeon page where the blogger would stick the commenting trolls, with amusing descriptions and anecdotes of why he placed them there.

Speaking of which...
Tesla said:
The blind cheerleading for this albatross is really quite bizarre. Clearly lots of people have lost, or are going to lose a bloody fortune, not to mention the spillover affects on the industry and local economy.
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...don't choke on that ridiculous strawman you're constructing there too much now.
 
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Progress continues at a good pace. After the next pour, it will be at the same height as the 2 Bloor West.

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