sunnyraytoronto said:
Like I said,.... the developer/owner already chopped their original proposal by themselves. Formal revision from developer/owner will be sent to City Planning.

They were originally proposing 14 storeys on land that's part of Sheppard West Secondary Plan which allows for at most about 4-5 storeys. Their OMB appeal is to try to alter the Sheppard West Secondary Plan so that an Avenue Study plan would apply or even expand the North York Secondary Plan westward,..... Here the North York Secondary Plan isn't along Beecroft Rd as most would assume,... but along the former Frizzel Road that used to connect Poyntz to Sheppard West (one of my previous posts on EmeraldPark thread documents this),... which is now the western edge of Albert Standing Park,..... and this site is directly west of that!

There's a number of interesting strategies being played here,.... at the community meeting for this development I commented that this area has one of the lowest park space per capita in the city (that's a metric city uses based on area of park divided by number of residents within 1km radius of park),... it determines an individuals piece of the park pie..... and since there's so many high density development along Yonge Corridor,.... the park space per capita is extremely low due to the high density near Albert Standing Park. Anyways, for section 37 community benefits, city planning is now demanding on-site donation of land along the eastern part of this lot to be used for expansion of Albert Standing Park. That's a good strategy by the city, because that would leave the developer/owner with less land and in effect further chop this development again,... in addition to what the developer/owner already chopped.

The expansion of Albert Standing Park is important because Lansing United Church Community Centre which is at the southern end of this park is under construction now (as part of Section 37 community benefits from EmeraldPark development) should open in about a year. This new community centre is a joint city-church community centre with large day-care facilities for the little ones,.... thus, a larger park would be beneficial.
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This all doesnt matter. I am puzzled why people are not talking about the homeless shelter that will be built right across the street on 68 sheppard w. Condo prices are going to tank so why did they buy it??
 
Karismarian said:
Does everyone who bought this condo know there is going to be a permanent homeless shelter right across your condo at 68 sheppard west? Doesnt this directly depreciate youtr condo value???

www.thestar.com

Toronto to add six new permanent homeless shelters by 2030. Here’s where they will be located

The new sites are part of a plan that includes gradually closing temporary sites, enhancing existing locations and adding 20 permanent shelters by 2033.
www.thestar.com www.thestar.com
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Karismarian said:
This all doesnt matter. I am puzzled why people are not talking about the homeless shelter that will be built right across the street on 68 sheppard w. Condo prices are going to tank so why did they buy it??
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Who cares? Any particular reason you're white-knighting in multiple threads on behalf of some unknown purchaser's future value?
 
Ironically, growing demand for shelters is the same reason property values have gone up--packing more people into the city than our infrastructure can support.

In the long term, your value will be fine if we keep bringing more people here.

In the short term, values are somewhat depressed from recent highs because of higher interest rates, lower immigration and a glut of precons hitting the market between 2023 and 2025.

But there's more to life than property value.
 
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I understand the concern, but there is no need to overreact. The proposed site is not directly across the main building, only the driveway part, and it's a main road that separates neighborhoods. There is a growing number of homeless across the city, in every subway station and especially near transit hubs along Yonge Street (i.e. Union, Yonge and Dundas, Yonge and Bloor, Yonge and Sheppard, etc.). They are there with or without shelter, and a newly constructed building with all services on-site and staffed 24/7 will more than likely improve the neighborhood. You should read up on the shelter/facility proposed and what they will be offering, sounds very fancy to be honest! It's also not a walk-in, but by referral only. However, knowing our government - things proposed for 5 years could take 10 years to build, so I wouldn't be too excited yet.

I want to point out that this is nothing like living in a house right beside an old walk-in shelter. The condo has its own private backyard patio area, and it will have security on site 24/7 as with all condo buildings. It's true that this is not exciting as having a new fancy restaurant down the street, but unfortunately this is where our city is heading. There will eventually be a shelter in every community. My downtown condo is beside a nice hotel that turned into a temporary shelter during the pandemic years, and it held a lot more homeless. My tenant who works in the financial district moved in then and loves living in the neighborhood. Units sold back then were sold at a higher price than they are now - the hotel went back being a nice hotel after remodeling.

I second the sentiment that market trend and pre-con price vs. resale price are key factors affecting the condo value. To me, this is better than having another condo directly across the street offering 1,000 units at a cheaper price. There are many development proposed along Sheppard, so more competitions to come, like it or not.
 
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Today:

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Image from Bogert & Frizzle,… showing progress of the townhouses,.. with condo in background
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Image from Bogert & Frizzle,… showing progress of the townhouses,.. with condo in background

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