reinventingthewheel
Senior Member
I’d prefer Mizrahi in the booster seat, child-safety locks on.
- Thread starter urbandreamer
- Start date
Urbia-Suburbia
New Member
Did my little eyes see right? Mizrahi and Coco are both guarantors under the credit agreement?! (p. 14 not shown in the above excerpt)
Northern Light
Superstar
jibsta
Active Member
yes but guarenteeing how much,....
Urbia-Suburbia
New Member
Who knows. Maybe they both have transferred most of their personal wealth to their family members to protect their assets.
I was just surprised to see the personal guarantorship.
TossYourJacket
Senior Member
That seems to have always been the plan. and being behind on that plan is likely a big source of their financial problems. Obviously there are many issues here, but certainly the lack of revenue coming in from not having Apple paying rent (and maybe also the hotel could have opened early?), isn't helping in terms of their inability to pay off debt. Now obviously they'd need to get Apple to come back (or get an equivalent tenant), but I'd guess part of the reason they're continuing to build right now is to try and get to the point where the lower levels can start generating revenue to offset some of the debt.
Collingwoodbuildinglover
Senior Member
I believe it is a combination of wanting to get the lower levels finished for occupancy and even if work stops rental fees on equipment still accumulate as well as utility costs so it is better to keep moving forward
jibsta
Active Member
the apple store at most would have yielded them 3,000,000 a year in rent a proverbial fart in the wind in this project.
i think in total they have about 30 - 40m revenue of commercial available.
maybe another 30 - 40m hotel revenue at the most
Johnny Au
Superstar
Part 1 of 2 taken on October 25, 2023:
Bay and Cumberland:
Balmuto Side:
Back Alley:
Bloor Side:
Bay and Cumberland:
Balmuto Side:
Back Alley:
Bloor Side:
mininamib
Active Member
It might sound facetious, but I can seriously imagine a Shopper's Drugmart filling in the retail space meant for Apple. It would be one of the most "Toronto" things to happen in Toronto. 
hawc
Senior Member
Yup a Shoppers, a Subway Sandwiches or a Nail Salon in the space meant for Apple, would be amazing.
zang
Senior Member
Not likely given the saturation in the area, but I don’t think it’d fly well with the tenants/hotel; Galen Weston’s recently taken a “confine and scrutinize” approach to customers (see; recent changes to Loblaws on Carlton, and the presence of paid duty cops as security). Very few cashiers, but heavy security is in use in most Shoppers downtown now.It might sound facetious, but I can seriously imagine a Shopper's Drugmart filling in the retail space meant for Apple. It would be one of the most "Toronto" things to happen in Toronto.
“From this entrance, you can enter the luxury hotel; this one the luxury condos and this one the drug store that’s now being run like a Dollarama.”
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TossYourJacket
Senior Member
I'd argue an even more Toronto option would be for it to become a bank branch, a la the Samsung Store becoming a BMOIt might sound facetious, but I can seriously imagine a Shopper's Drugmart filling in the retail space meant for Apple. It would be one of the most "Toronto" things to happen in Toronto.
hawc
Senior Member
Went into a new RBC branch the other day and there were no tellers behind desks, instead they had little café style tables with two chairs where you would go over and sit with a teller and they'd process your request. I'm not talking about an advisor in an office, just a normal teller at a little coffee table. World has gone crazy! 
khaldoon
Senior Member
Have they started to reduce the thickness of the supercolumns above the new mechanical level? These rebar cages don’t look quite as hefty as before.
View attachment 515581
: @BloorMan
Yes. They had changed thickness at least once previously but they were always almost square shaped while now it appears to have half the original cross section.