Ramako
Moderator
I'm truly mystified by how this news could have elicited such a negative reaction from some here. I've never seen a development (other than ones with horrid designs) attract such relentless skepticism and hate.
- Thread starter urbandreamer
- Start date
Automation Gallery
Superstar
Well this one is all about Mizrahi succeeding with this grand project, and many here for some reason would rather see him fail?
pw20
Active Member
It would be helpful to do some research on how many condos in Toronto are built "far behind original timelines." Case in point, Monde, land acquired in 2009, design finalized in 2011, with completion estimated for 2015. Monde was built by Great Gulf (one of the most consistent developers, IMO). Actual occupancy was mid to late 2018?
from a realtor: Waiting, Waiting, Waiting. While builders will provide an expected completion date for the condominium, rarely (if ever) are condos completed on time. Builders have the right to delay for all sorts of reasons and for a surprisingly long time. The actual delays and builder penalties (if any) are outlined in the agreement of purchase and sale, but in our experience, add at least 6 months – and up to 2 years for delays.
AlvinofDiaspar
Moderator
*cough One Bloor East cough* You pulled exactly this kind of stint in that thread.
MoD
Vanalla
Active Member
In defence of the developers here, this construction site is taking place on one of the busiest intersections in Canada, on an incredibly small lot size. Any building materials that are to be used on the site need to be stored offsite until the very last moment they're needed, and then trucked through Bloor-Yonge traffic, which as we all may be aware to varying degrees , can be abhorrent.
Yes, this one will take a while. No, I don't think we'll be staring at a stump à la Bay-Adelaide Centre for the next decade.
Yes, this one will take a while. No, I don't think we'll be staring at a stump à la Bay-Adelaide Centre for the next decade.
gabe
Senior Member
Interesting they went with the Hyatt Andaz brand. At this location and inside this building i was expecting something ultra high-end. Like Mandarin Oriental or Waldorf Astoria.
Toronto has enough 5 star properties anyway. Andaz will be a nice addtion to Toronto's hotel scene.
Toronto has enough 5 star properties anyway. Andaz will be a nice addtion to Toronto's hotel scene.
Bayer
Senior Member
I looked at the pictures of the Ottawa Andaz, and it reminds me a bit of the new Alt+ Hotel Le Germain opened in Brossard QC.
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Christopher Brown
Active Member
Official ground breaking ceremony for The One was held October 5, 2017. That's 19 months ago.
Seems to me to dig that far down on a site restricted by dimensions and access, drill all those holes for super columns and fill them with as much concrete as they consumed, Mr. Mizrahi deserves a congratulatory pat on the back.
Arguably, by those bent on criticism, perhaps it could have been done in 17 months, or maybe even 15. Maybe he's off by a couple months - but that requires we ignore the fact this was a long and brutal winter.
By comparison, First Gulf broke ground July 14, 2011, and it took them 23 months to reach street level. Let's see where Mr. Mizrahi is by September 2, 2019. Some here might be forced to eat crow.
Suggestion: Eat'm now when they're young and tender !!
Seems to me to dig that far down on a site restricted by dimensions and access, drill all those holes for super columns and fill them with as much concrete as they consumed, Mr. Mizrahi deserves a congratulatory pat on the back.
Arguably, by those bent on criticism, perhaps it could have been done in 17 months, or maybe even 15. Maybe he's off by a couple months - but that requires we ignore the fact this was a long and brutal winter.
By comparison, First Gulf broke ground July 14, 2011, and it took them 23 months to reach street level. Let's see where Mr. Mizrahi is by September 2, 2019. Some here might be forced to eat crow.
Suggestion: Eat'm now when they're young and tender !!
Secret Agent
New Member
Let’s hope he sells a couple of condos by September 2. Sales of the many upper end condos have not been touched. I believe they haven’t recorded a single sale dating back to late last year. This could explain why they are slow with construction.
brianyyz
Active Member
Andaz seems reasonable to me. It is Hyatts second from the top brand and has a high-design / boutique feel that fits well enough.
In any case, Toronto is 1) not *that* big of a super-premium market (just look at the near lack of international First Class flights) and has had a bunch of major chain five-star hotels open/renovated in the last few years (Four Seasons, Park Hyatt, St. Regis, Shangri-La, Ritz Carleton) covering Marriott, Shangri-La, and Four Seasons; plus the top hotels in the IHG chain (Kimpton and Intercontinental). Is there room for yet another hotel in this customer space?
In any case, Toronto is 1) not *that* big of a super-premium market (just look at the near lack of international First Class flights) and has had a bunch of major chain five-star hotels open/renovated in the last few years (Four Seasons, Park Hyatt, St. Regis, Shangri-La, Ritz Carleton) covering Marriott, Shangri-La, and Four Seasons; plus the top hotels in the IHG chain (Kimpton and Intercontinental). Is there room for yet another hotel in this customer space?
ADRM
Senior Member
The very post you quoted was a fairly thorough explanation of the fact that they are not slow with construction.
And, yes, it does and should be expected to take some time to sell $20M+ condos.
Christopher Brown
Active Member
Do you honestly believe for a moment any developer or the money behind them speeds up or slows down based on sales volume AFTER they commence construction? They're not baking donuts at Tim's. They're all in, and there's no turning back.
Someone correct me if I'm wrong, but 1 Bloor East still has not put the penthouses up for sale. In my building, occupancy began in November 2017. All units not sold by ground breaking years earlier were kept hidden until late 2018. And as of today, two penthouses have still not been offered for sale. The developer is clearly in no rush to do so and has their own reasons for waiting. It's called profit.
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Miles Gilbert Horton
New Member
I guess you’re right. Nothing here to worry about.
Similar to Holiday Inn Express.
Miles Gilbert Horton
New Member
I would be fall off my chair shocked to see anyone spending $5 million on a condo in this location.