This is my first post on this thread since Tridel was announced to have taken over this project. Since I have not taken photos from close to the tower recently, I decided to do so today:
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From Yonge and Queens Quay this afternoon:
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maestro said:
I agree any purchaser would not settle on 85 and I think would pursue higher than 91 storeys. The problem is this project is a disaster. Those that could afford it typically don't have the brass balls like Mizrahi and the market recovery in 2025 is speculation.
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Market recovery for 2025 is beyond speculation. It is a pipe dream. There is no data to suggest anything other than a total shitshow for condos in 2025.
 
The next couple floors will take longer as we are on another section of mechanical level Plus we're also at the Christmas holidays I imagine we will see the floor of the next residential units around mid-January (ceiling of the mechanical level) and after that we will have six floors and the clear story pending tridel getting an ego
 
My thoughts on the Tridel DM Contract:

Tridel will get to play an extremely key role in getting this project to the finish line, and in determining its final form. They are not just hired to finish the job "on time and on budget" - although that is extremely important. Tridel will be responsible as an advisor to the receiver and the lender as to how they can extract the most value out of this project to make sure the bank can earn as best of a return as possible.

Tridel is the absolute expert in GTA construction, sales, marketing, customer care, trade relationships, local financing, property management etc. As such, the receiver/lender will rely on their advice for a number of key decisions. For Example:
  • Leasing the retail space.
  • The feasibility of obtaining permits/approvals for the 91 storey version and if it is financially viable to build it.
  • Selection, design and build out of the on site hotel (if any?)
  • Strategy for redemising of the building (if any) to create smaller suites.
  • Decisions related to disclaiming the existing purchase contracts.
  • Reviews to the Condo Docs, Budget and Amenities of the condo - is it marketable/required for todays buyer/climate.
  • The possibility of adding a rental component to the building.
  • Getting the lower floors to occupancy as soon as possible to start bringing in some revenue to the project.
  • Revising the highest level to a rooftop restaurant (who knows?)

I think it will be super interesting to see what approach they take to make this building as successful as possible.
 
Fortunately, it’s too late for Tridel to cheapen the facade in managing the project (even though it just repeats the semi-triangle motif over and over again).

I hope they can maintain the prestige of the project, keep the unit sizes big, and get it to super tall status if it isn’t already. The investors market for condos has been hampered by interest rates, but wealthy people are doing fine and continue to need homes.
 
See I see this as a chance for tridal to rival pinnacle they have a chance to build a building that maybe shorter than sky Tower but more lavish and more inviting I think the tridel given their reputation was probably the best we could have got here other than Pinnacle

Edit. Also I don't really remember of many tridel developments that they have gone super cheap on the cladding so I don't think that would have been a concern here either way
 
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