Isotack said:
Sorry I just thought that the title of the thread actually reflected what was being discussed. Perhaps...since there are five buildings they could be separated. A, B, C, ...or something like that. But that's just me... I like common sense.
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All of the buildings are typically left in one thread as once the buildings go under construction, people typically upload photos in one thread per project, (unless there's a huge difference in time between phases, or if there's major physical separation owing to a large site.

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interchange42 said:
Not according to the architectural plans posted to the City's website. That would be a huge drop in the number of units available for sale if true, and a much higher percentage of 2 and 3 bedroom units. Do you have a breakdown of the number of 1, 2, and 3 bedroom suites?

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No, I don't have the overall mix. My assumption would be that the massive 8-storey podium is where those unit numbers are made up for.

What I can tell you for certain is that floors 8-34 are 10 units, 38-55 is 8 units, and 55-64 is 5 units.
oneyonge-floorplate.jpg

Also, on the note of the 'subsidized housing': it's simply 100 rental units to be managed by Pinnacle. The rents will be based on the average of the previous calendar year. These units will have a separate entrance and amenities. My best guess is that they'll be the podium units.
 

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^that is what is reflected in the arch plans posted online right now..

The first floor of market units is level 7, meaning the entire podium level is the affordable housing. Condo tower is the only market units. And yes, the affordable housing isn't going to be TCHC. It'll be Pinnacle owned, rented at 80% of CMHC set "market rates", which are actually far below the true market. I think they have a one bed unit at $1,200 or so right now, so a 1 bed unit will rent at around $950.

the tower itself has 497 market rate units, including 5 per floor on 55-65, and 8 per floor on 45-54. Some of the 3 bed units are very large, in the 1,500sf range.
 
went to the presentation centre, Pinnacle's sales agent (Janice) said phase 2 will start selling when phase 1 is almost built (2022). even my agent was surprised. will be posting pictures of the finishes shortly
 
innsertnamehere said:
^that is what is reflected in the arch plans posted online right now..

The first floor of market units is level 7, meaning the entire podium level is the affordable housing. Condo tower is the only market units. And yes, the affordable housing isn't going to be TCHC. It'll be Pinnacle owned, rented at 80% of CMHC set "market rates", which are actually far below the true market. I think they have a one bed unit at $1,200 or so right now, so a 1 bed unit will rent at around $950.

the tower itself has 497 market rate units, including 5 per floor on 55-65, and 8 per floor on 45-54. Some of the 3 bed units are very large, in the 1,500sf range.
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Right, those November plans were newer than what I had. Thanks for catching that!
dracolnyte said:
went to the presentation centre, Pinnacle's sales agent (Janice) said phase 2 will start selling when phase 1 is almost built (2022). even my agent was surprised. will be posting pictures of the finishes shortly
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Sales agents typically know nothing beyond what they are selling right when you're talking to them, or they're unwilling to talk about future releases. All they want you to know about is what's on sale now.

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dracolnyte said:
went to the presentation centre, Pinnacle's sales agent (Janice) said phase 2 will start selling when phase 1 is almost built (2022). even my agent was surprised.
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Haha, Janice is there to sell phase-1 and not to promote phase-2 when this phase hasn't been sold out
.. with the Toronto condo market still hot i doubt Pinnacle will sit on the next phase for 4 years before sales
 
precondo said:
Also, on the note of the 'subsidized housing': it's simply 100 rental units to be managed by Pinnacle. The rents will be based on the average of the previous calendar year. These units will have a separate entrance and amenities. My best guess is that they'll be the podium units.
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They are the podium units.

AoD
 
precondo said:
The Prestige development itself isn’t 70% sold out (to my knowledge).

We don’t represent Pinnacle so I can’t speak on their behalf, but we saw huge interest in One Yonge on our end. We were lucky enough to secure a number of units for our clients, 70% of which were sold at the time of that email – the remainder have since been allocated as well.

We’re just one of many teams with Platinum access to One Yonge, so I can only speculate as to the sales status for the rest of the building. Given the location, the builder, and the years of anticipation for the project, I’m assuming it’ll sell quite well.

The Prestige hasn’t been fully released yet, either.

Hope that helps clarify!
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did pinnacle release their sales numbers yet? it's almost been a whole month. also are you allowed to disclose how many units is 70%?
 
Towered said:
I don't understand who the people are snapping up these units or how they are doing it. Utter folly.
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Same sentiment has been expressed for the last number of years here, yet those who continue to subscribe to this view blindly ignore the supply and demand dynamics of our Country, the Province, the GTA and more to the point today, downtown Toronto.

300,000 + newcomers entering Canada every year. 100,000 come into the GTA. Wave after wave of immigrants over the past 1o0 + years have all wanted to own their home. It's in their DNA.

Over the time prices have consistently increased, with a few temporary dips sprinkled throughout. Across the vertical residential market downtown where the new supply has flourished, prices have risen 50% in the last few years. So, extrapolate. But even if prices moderate or stay flat, bottom line is after 25 years you have a paid-for roof over your head. You have tax free equity.

Wish my folks had bought and held onto 3 or 4 Etobicoke bungalows instead of one back in 1963 in the middle of nowhere. Cause I'd be rich today. None of the parents on our entire street had been born in Canada. Their grandchildren were.

Brand spanking new, 3 bedroom, one bathroom, double brick, over 1,000 sq. ft. main floor, unfinished basement. $16,500.00 back then. Same price as decent living room furniture today.
 
We've gone through condo booms and busts all the while having pretty stable migration figures.

Guaranteed most of these units were picked up by entities rather than people and not for short term flips. (of course, some will) They will try renting long term and short term and, if that doesn't work, they'll just let them sit empty.
 
Thanks. The last two years have been quick, 123,000 and 107,000. Year before that was just 66,000, and the year before that, 83,000. Wonder what 2018's numbers will be - we may be breaking 6.5 million soon.
 
Ontario Ministry of Finance - "Toronto’s population is projected to rise from 2.88 million in 2016 to 3.89 million in 2041, an increase of 35.1 per cent. The GTA’s population is projected to increase from 6.7 million in 2016 to 9.6 million in 2041. "

That's 1,000,000 more souls in 20 years stuffed in between the 427, Steeles, somewhere in Scarborough and the H2O.

And I used to marvel at the big sign on the 401 near Pearson that stated, Toronto - population 500,000.

Sorta looks like Toronto, except it's Shanghai - City proper population, 24,256,800. My suggestion, do the math.

Photo from: https://zh.wikipedia.org/wiki/User:Baycrest
1280px-Lujiazui_2016.jpg
 
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