Toronto INDX Condos | 178.6m | 54s | Lifetime | P + S / IBI

Big Daddy said:
No, Southcore is going ahead just the new office building is potentially not proceeding.
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:) That's like saying "Yes it's going ahead but it might not" ...

Anyway, someone floated a rumor that it may be capped (the office building not the hotel) there's been no confirmation yet. But, given we've heard nothing about a lead tenant being signed that doesn't sound too unlikely.
 
Something is stiring!




Application: Zoning Review Status: Not Started

Location: 70 TEMPERANCE ST
TORONTO ON

Ward 28: Toronto Centre-Rosedale

Application#: 11 308374 ZPR 00 ZR Accepted Date: Nov 10, 2011

Project: Multiple-Use Building New Building

Description: This is for the construction of a new 54 storey residential building development with retail at grade. There will also be 5 levels below grade.
 
this building i always wonder about when looking at skyline shots and trump tower shots.... wish bay adelaide 2 and 3 could see some hope as well.
 
sixrings said:
this building i always wonder about when looking at skyline shots and trump tower shots.... wish bay adelaide 2 and 3 could see some hope as well.
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Yup, along with Richmond-Adelaide III. That would extend the skyline further north...now imagine if the site of 199 and 205 Yonge was also developed quickly (with something tall-ish)...that would be so cool, in addition to the ongoing projects at or south of Front St. like L tower, the Delta tower, etc. (which will expand the heart of our skyline significantly and give the Toronto skyline more 'justice' to the 'average eye' on how big our downtown really is). :)
 
Sounds promising. Lifetime has been working with great architecture firms to produce some sharp designs for their recent projects.
 
I believe it was sold to CentreCourt Developments who partnered w Lifetime on Karma...
 
Wow, Skyline made a bundle on this flip: http://www.globes.co.il/serveen/globes/docview.asp?did=1000709601&fid=1124

Mishorim unit sells Toronto lot for C$39m
Skyline sold the lot slated for the Skyline Tower at 66 Temperance St. in Toronto.
25 December 11 13:52, Globes' correspondent
inShare

Skyline Investments Inc., the Canadian development arm of Mishorim Development Ltd. (TASE:MSHR) and Israel Land Development Company (TASE: ILDC), has sold a 1,200-square meter lot in Toronto for C$39 million (NIS 145 million). The lot at 66 Temperance Street, is zoned for the construction of a 42,000-square meter office building, Skyline Tower.

Skyline bought the lot in January 2008 for C$24.1 million (NIS 93 million), and Mishorim books the property at a value of NIS 136.4 million.

After repaying the C$13 million mortgage on the property, Mishorim will have a surplus cash flow of NIS 96 million.

Mishorim president Gil Blutrich said, "Skyline Tower is another example of Mishorim's strategy - buy, redevelop, and sale at a substantially higher value."
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Mishorim president Gil Blutrich said, "Skyline Tower is another example of Mishorim's strategy - buy, redevelop, and sale at a substantially higher value."
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Except they didn't redevelop. Buy and then sell at a higher price with no change.
 
^ Well someone paid a lot of money for this site. let's hope it's not a land bank or worse, another condo tower.

(Skyline made the equivalent of a 13% annual return on their investment - likely all they ever had in mind)

Sad they saw no better return in developing it.
 
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