InSeason said:
Hi everyone, new to this forum and enjoying the discussion. I've gone back 30 pages on this thread but apologies if I have missed this - does anyone know when they will be breaking ground on block 4?
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Not for a good few years, AFIK it is not yet being marketed.
 
Rain day today.
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Water truck Tuesday.
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denfromoakvillemilton said:
Can't say I feel any sympathy...
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Seems a bit heartless. If one bought a home near a planned school and the schedule slips (by a lot) so that your kids will have 'out-aged' it I think the parents have right to feel disappointed. Yes, I understand why the school in the condo was delayed/cancelled but for people who bought believing what they were told it is clearly a disappointment and I at least feel sympathy for them. I also feel sympathy for those who believed the City and Waterfront Toronto who repeatedly promised "Transit First" for Queen's Quay East from at least 2008 and here we are today with no clear and funded plans to build the LRT extension.
 
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Also seems to be some new information in that article.

This is news to me:
Phase 2 has also been converted from condos to rental units, according to the city.
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Though this quote from later in the article makes it sound like perhaps only one of the buildings has been converted to rental:
Occupancy dates for Phase 2, which includes plans for a rental building connected to the school, are tied to the pending start of construction, said Menkes spokesperson Danny Roth, of Brandon Communications.
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Sounds like construction is potentially close(?):
“While we are ready to begin construction, necessary agreements with our municipal and federal partners towards the development of rental housing continue to be negotiated,” he wrote, in response to questions from the Star.
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If aiming for 2029/30 then construction probably can't be that far away:
In May 2022, the TDSB estimated the school would open in 2026. A year later, it was forecasting 2028. Now the TDSB is pinning its hopes on 2029.
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Hopefully this means there's still potential for some interesting cladding:
Other issues, like the building cladding, are still being determined and are part of an ongoing site plan review, according to the city.
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"Phase 2 has also been converted from condos to rental units, according to the city."

Funny, I was talking to a Property Manager a few years ago and we were talking about Condos vs Rentals and I was saying how a lot of these new rental buildings are being built in such a way, that they could easily convert these buildings to condos and sell off the units in the future.

She essentially said to me "You're going to see a lot of these planned condos be changed to rentals. The higher ups are already talking about it and it's not unique to us." (Clarifying: She was talking about pre-construction).

So, this does not surprise me.
 
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GameOnBrad said:
"Phase 2 has also been converted from condos to rental units, according to the city."

Funny, I was talking to a Property Manager a few years ago and we were talking about Condos vs Rentals and I was saying how a lot of these new rental buildings are being built in such a way, that they could easily convert these buildings to condos and sell off the units in the future.

She essentially said to me "You're going to see a lot of these planned condos be changed to rentals. The higher ups are already talking about it and it's not unique to us."

So, this does not surprise me.
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Converting an existing building from rental to condo is not an easy thing to do legally as I assume you first need to have an 'empty building' and then construct a Declaration that identifies the Units and the other things like % of expenses each Unit pays. I suspect that the physical changes required to go from rental to condo are simple to make, the legal hurdles look very complicated to me.

SEE https://www.toronto.ca/city-governm...guide/draft-plan-of-condominium-applications/ of which this is just the start!

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DSCToronto said:
Converting an existing building from rental to condo is not an easy thing to do legally as I assume you first need to have an 'empty building' and then construct a Declaration that identifies the Units and the other things like % of expenses each Unit pays. I suspect that the physical changes required to go from rental to condo are simple to make, the legal hurdles look very complicated to me.
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I think it has been done before. 30 Gloucester Street comes to mind but I don't know all the details involved (i.e. whether or not it needed to be empty). I had multiple friends of friends renting apartments in there and, apparently, they were given the option to buy the unit they were renting.

I also remember the renos to the building took years but that's because it was an old-school rental building. That said, many of these new buildings are literally built like condos but happen to be rentals (correction: I mean before construction begins). All the meters and such are all in-suite, etc.
 
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GameOnBrad said:
I think it has been done before. 30 Gloucester Street comes to mind but I don't know all the details involved (i.e. whether or not it needed to be empty). I had multiple friends of friends renting apartments in there and, apparently, they were given the option to buy the unit they were renting.

I also remember the renos to the building took years but that's because it was an old-school rental building. That said, many of these new buildings are literally built like condos but happen to be rentals. All the meters and such are all in-suite, etc.
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Of course, it CAN be done but as you can see in the City procedures, it is not a speedy or simple process. Certainly having 'unit metering' for hydro (and sometimes water or gas) makes it easier and it is almost universal now for both new condos and new rentals.
 
GameOnBrad said:
"Phase 2 has also been converted from condos to rental units, according to the city."

Funny, I was talking to a Property Manager a few years ago and we were talking about Condos vs Rentals and I was saying how a lot of these new rental buildings are being built in such a way, that they could easily convert these buildings to condos and sell off the units in the future.

She essentially said to me "You're going to see a lot of these planned condos be changed to rentals. The higher ups are already talking about it and it's not unique to us."

So, this does not surprise me.
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I am not dissing your source here, but she may not be aware it's not as simple as turning on a light switch. To be fair though, probably a lot of peeps in that field are not really aware of that either. Most likely due that landlords usually have no intentions of converting their properties into condos.
 
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