AHK
Senior Member
Later this afternoon - the rest of the cladding shipment skids delivered this morning are now staged for installation along the King Toronto south property line.
I can't wait to see the Lego model of this building.
I can't wait to see the Lego model of this building.
in 2019 Allied and Westbank commissioned a custom model of this for a gift for partners and insiders:
in 2019 Allied and Westbank commissioned a custom model of this for a gift for partners and insiders:
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wow thats big news. i figured something was up. westbank is broke. hopefully this speeds things upJuly 14 - Major News - Westbank is no longer involved with the King Toronto project. Allied Reit has acquired Westbank's 50% interest in the project and now owns it completely. - presumably with the bulk, if not all of the compensation to Westbank consisting of elimination of debt owing from Westbank to Allied.
This morning, the hoarding along King Street was repainted in Allied Reit green, and the signage which had indicated King Toronto being a joint Allied / Westbank project was partially taken down, removing the Westbank name - photo below.
First - a photo of a worker installing a cladding section in the gap of the Third Level cladding beside the driveway at the north-west corner of the building. Followed by the signage which has been been half taken down, removing the Westbank name. After that - sections of the newly repainted King Street hoarding in the Allied green colours.
@Paclo - you may wish to update the King Toronto database entry to show Allied as the developer to replace the current Westbank entry.
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...let's hope those chickens don't come home to roost until this project is all completed and done. >.<Allied making the most bone-headed acquisition & development decisions continues unabated!![]()
Wow that's HUGE news! CrazyJuly 14 - Major News - Westbank is no longer involved with the King Toronto project. Allied Reit has acquired Westbank's 50% interest in the project and now owns it completely. - presumably with the bulk, if not all of the compensation to Westbank consisting of elimination of debt owing from Westbank to Allied.
This morning, the hoarding along King Street was repainted in Allied Reit green, and the signage which had indicated King Toronto being a joint Allied / Westbank project was partially taken down, removing the Westbank name - photo below.
First - a photo of a worker installing a cladding section in the gap of the Third Level cladding beside the driveway at the north-west corner of the building. Followed by the signage which has been been half taken down, removing the Westbank name. After that - sections of the newly repainted King Street hoarding in the Allied green colours.
@Paclo - you may wish to update the King Toronto database entry to show Allied as the developer to replace the current Westbank entry.
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cant really say it's a bad decision without knowing what the deal wasAllied making the most bone-headed acquisition & development decisions continues unabated!![]()
They could have gotten it for free and it would still absolutely be bone headed. They wouldn't have done that though - they would have paid Ian a boatload to take this headache off his hands.cant really say it's a bad decision without knowing what the deal was
The only Toronto property listed on the Westbank website is Mirvish Village and they just sold off Shangri-La hotel and retail space in downtown Vancouver tower to Brookfield. SEE: https://www.msn.com/en-ca/money/top...=1&batchservertelemetry=1&noservertelemetry=1Well... Allied have responded to our inquiry and they deny that Westbank is no longer a partner in the KING Toronto development, end of statement. I am still looking for more information on the point of the hoarding repainting and the removal of Westbank logos. Will follow up when we get more info.
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