OMB? really?

well this could get interesting.

Dozens or proposals die early.

I actually like this one, BUT get the street treatment and the roads right first. Then go for the density and height.

Right now I think the height is too high. The market probably does to. Maybe in 30 years a condo above 50 floors makes sense but I don't think so not for the next ten.
 
Hey in 1980, as a student working at 207 Queens Quay Terminal warehouse building for a firm of architects, I was tasked to catalogue, save or scarp rolls of drawings. Many were proposals for the harbour and the lands around them. Dozens and dozens of very interesting options. None exist today....just saying, that was 33 years ago.
 
cc46 said:
Right now I think the height is too high. The market probably does to. Maybe in 30 years a condo above 50 floors makes sense but I don't think so not for the next ten.
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But there are several condos over 50 storeys under construction, right now. I don't really understand this comment.
 
cc46 said:
Right now I think the height is too high. The market probably does to. Maybe in 30 years a condo above 50 floors makes sense but I don't think so not for the next ten.
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I dont understand this viewpoint either. Please explain why the proposal is too high and why 50 floors will be more appropriate in 30 years. Where do these numbers come from?

There are already half a dozen buildings over 50 floors in the neighborhood and at least that many more already built across the city, with many more starting or proposed. Toronto is in the process of shedding its small-town mindset and has become an Alpha-City known worldwide. The market both here and abroad is clearly supporting higher densities in the city core and as such, taller buildings. Infrastructure will be improved as well. Provincial attitudes will be left behind and opportunities missed for those that can't recognize these facts.

Perhaps your view is in danger of being blocked?
 
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Agreed, why do you think we don't need condos over 50 floors? Ever heard of, oh, say, One Bloor, Aura, Collage Park, the L Tower, the Four Seasons Residences, Shangi La, or the Trump Tower? Sorry to say, but your thinking is archaic, and with the limited amount of available land, developers have got to make the most of it to get the full value out of it.
 
I think the poster is referring to the demand for an endless supply of 50s+ condo towers when demand clearly has been curtailed. What if the market sits at around 12,000 units sold every year for the next decade?

Toronto has--contrary to the MSM brainwash--unlimited supply of land. Any site could be redeveloped at some point in time.
 
The lands were purchased by Pinnacle for $255 million. Real estate developers don't spend that kind of money unless they have really good reason to believe that they will be able to develop their site and earn an acceptable ROI. It's the planning department's job to offer their professional recommendations based on current plans and polices to city council. The language in the preliminary report should come as no surprise to anyone. City council can adopt or reject the planning department's recommendations, but they can be persuaded by Pinnacle, especially if a large Section 37 benefit is secured.

Xray_Crystal_Junkie said:
City: Please wait till we're done our precinct plan before submission.
Pinnacle: Screw you!
City: Screw me? No, no my friend. Screw you!
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The Planning Department doesn't have a legal basis for asking a developer to hold off on submitting an application on this site nor can they change the rules mid stream in the approval process. Thankfully, there is an OMB to guard against such retaliatory actions. Although, I doubt that's the case here. The issue is zoning. And Toronto's zoning has been outdated for many years as it is not consistent with the city's current Official Plan. The planning department's recommendations will continue to get railroaded by the OMB until that changes. Eventually, someone over there will figure it out.

I'd say the biggest risk for 1 Yonge not getting built is the softening real estate market.
 
it doesn't have an unlimited amount of land, at least with the greenbelt. Though the amount that is given with the greenbelt could probably support 50 million people with condos.
 
Guys, there's not much to interpret or mis-understand...the comment about condos over 50 floors is my opinion. I simply don't believe there is a significant market for them. If I were a developer I'd think twice about them. And if Pinnacle thinks the property is worth $250m+ and want to put 50+ flr condos on them great, they are betting I'm wrong.
 
cc46 said:
Guys, there's not much to interpret or mis-understand...the comment about condos over 50 floors is my opinion. I simply don't believe there is a significant market for them. If I were a developer I'd think twice about them. And if Pinnacle thinks the property is worth $250m+ and want to put 50+ flr condos on them great, they are betting I'm wrong.
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Well considering that there have been scores of 50+ story condos sell out around the GTA over the past couple of years , I'd say you've been PROVEN wrong. My bets would be on pinnacle, and I'd be making a sure bet at that.
 
cc46 said:
I simply don't believe there is a significant market for them.
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In a city growing this fast, with a huge volume new (wealthy) immigrants, empty-nesters, as well as migrants from across the country, you could build a 150 storey condo at this location without any concern.
 
^You mean in your opinion. I personally would never put my money into a 150 storey condo at this location at this time.
 
wmedia said:
In a city growing this fast, with a huge volume new (wealthy) immigrants, empty-nesters, as well as migrants from across the country, you could build a 150 storey condo at this location without any concern.
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I think you are overstating the number of migrants moving to Toronto. I would also imagine the price point for a profitable 150 storey tower being out of range of those you define as wealthy.
 
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