Toronto The RIV | 113m | 34s | Broccolini | Arcadis

xy3 said:
Uggh, minifridges . Why do suckers pay a premium for these floorplans ?
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Plus, that view in the promotional suite‘s image (above) is from Riverdale Park East, and inverted (note the building locations relative to each other)!

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(my photo from a Jack Landau daily pic from 2020).
 
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Undead said:
Because 70-90% of pre-cons are bought by investors to rent out and they don't give a crap.
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Raising the minimum down payment requirement to 50% would put the kibosh business model (which is highly leveraged and relies on inflation induced debt destruction)
 
xy3 said:
Raising the minimum down payment requirement to 50% would put the kibosh business model (which is highly leveraged and relies on inflation induced debt destruction)
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Or just keeping interest rates at a normal level.
 
Undead said:
Or just keeping interest rates at a normal level.
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They are still lower than the rate of inflation, unfortunately.

I think both higher rates and a higher down payment requirement is necessary to slay this dragon and bring us back down to pre 2014 prices.
 
xy3 said:
They are still lower than the rate of inflation, unfortunately.

I think both higher rates and a higher down payment requirement is necessary to slay this dragon and bring us back down to pre 2014 prices.
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The people making the decisions are also rich investors so they will never do what is necessary to help the general population get into the market.
 
Still doesn't have NOAC.

New Docs submitted January 4th /24

Looks like mostly technical adjustments and notes.

Render in new docs:

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ProjectEnd said:
How the hell did Broccolini get to 70%?????
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Do they need to? Could they be like Pinnacle, and start on a largely self-funded basis?

When Freed Developments brought Broccolini in as joint development partner for their buildings on Redpath a number of years ago, I asked about the joint venture rational, as Freed had previously used private investors to help finance his projects. The answer was that Broccolini was being of financial assistance in these projects - presumably better terms than the private investors, due to Broccolini just starting to get themselves established in the Toronto market at the time.

So the need for a stipulated level of pre-sales to secure bank financing may not be an issue for Broccolini.
 
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