What do you think of this project?

  • Total voters
    42
Kosy123 said:
I'm not too knowledgeable on this as much, but would the fact it's a foreign buyer (German REIT) make it likelier that the property is developed or less?
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REITs don't hold vacant land long term. They're also much less shaky from a capital perspective than traditional developer, atleast when you're on the outside looking in.

This is the kind of project that could be fully built out in a single large stage, if it is a REIT as @IanO believes.
 
archited said:
When the site was apportioned into lots the British system of measurement was the standard and you will notice that the realtor indicated the site was +/- 75,000 square feet. I believe the lots here are 150' deep which would mean that the frontage would be 500'; I did however, err in the length takeoff and I believe that it includes the entire block minus the historical portion of the Massey Ferguson site. That said this is all guess-work until someone can state the property size for certain.
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I believe you are correct if that block had 10 lots each 50ft wide and 150ft long which was pretty standard for the day.
 
For $11.5M - either they want to sit on it and flip and make $100 bucks profit OR they want to build something big and expensive. I would assume that clapboard 6 storey framers would behoove themselves from utilizing the purchase to it's full potential......
 
Kosy123 said:
I'm not too knowledgeable on this as much, but would the fact it's a foreign buyer (German REIT) make it likelier that the property is developed or less?
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I could be wrong, but doesn't a German fund own the City Centre mall? If so, take what you will from that land play?
 
Offworld said:
I could be wrong, but doesn't a German fund own the City Centre mall? If so, take what you will from that land play?
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I just searched it up and it seems like La Salle owns it on behalf of a Bavarian pension fund so you're right. Hopefully an empty lot is different circumstances rather an already existing asset.
 
MacLac said:
For $11.5M - either they want to sit on it and flip and make $100 bucks profit OR they want to build something big and expensive. I would assume that clapboard 6 storey framers would behoove themselves from utilizing the purchase to it's full potential......
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I feel and am hoping that German know how and efficiency leans towards building something quite good here, rather than just holding the land for some potential appreciation.
 
archited said:
^ hopefully not -- their product looks pretty bland,
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It sure does. I don't think a mid-rise on this property will be very economical though. Hopefully they build towers, and go very light on parking, since it's next to LRT and the University. Spend the savings on hiring their neighbourhood architects (Dub).

I'm giving them that advice for free.
 
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