Toronto Couture The Condominium | ?m | 42s | Philmor | Graziani + Corazza

dt_toronto_geek said:
Today I was thinking of this post as I photographed the north side of X and of another post (that I can't find) which stated something like Couture couldn't begin digging until X was out of the ground. Then this arrived in my email at 8:15pm from a friend, Couture's sales office catches fire -

photo.jpg
Click to expand...

I think that's just the Wicked Witch of the West arriving. This is the Gaybourhood after all.

42
 
Couture's sales office looks unaffected, however I only saw it from the other side of the street (east side) as I walked by.
 
Rendering

For future UT records (while it is still available from Monarch)

couture.jpg
 
I went into the sales office today and asked when construction was beginning. The woman told me that they are hoping to begin this year. I thanked her and as I left she added "cross your fingers".

Make what you will of that.
 
Does anyone have any update on the financial issues of the Monarch Group? A January article in The Star stated that Monarch is looking for buyers. Haven't seen anything else since. Should I trust in this group? I have another 6 days in my cool down period.
 
They told me they are 55% sold but won't start construction until 75% sold. That's why they have reduced the price recently to attract buyers.
 
personally, I think the difficulty in selling Couture is partly because of the lack of vistas ... with X condos abutting to the south and at equalvalent height ... any south views are basically a write off
 
the floorplans are pretty crappy.

it also doesn't help that they are selling at $500+ PSF (with reductions) when their neighbour to the south with a better design IMO is selling for less ($400-500 on higher floors)
 
I just went down to the sales office again this weekend. They're reducing the number of floors from 44 to 39, either they're holding the penthouses or getting rid of them altogether. Apartments starting from level 19 have 9ft ceilings.
 
That's an interesting development.
The standard units run (or ran) from 3-42, PH units 43-45. Depending on the level of the standard units, there are 10-12 suites per floor so if they lop off 6 floors that could eliminate as many as 72 units raising their % of sales considerably which would bring them closer to securing financing. Add that to their current promotion of a "move-in bonus" of $15-30K off (depending on the number of bedrooms) that may help move some units and get this project off the ground.
Desperate measures for desperate times I suppose.
I'd like to see this project get off the ground, the renders look decent enough and I think it would contrast well against X. It would also bring more much needed life to this area and would finally complete the Bloor Walk project.
 
I just talked to the sales office.

The building has changed to 34 floors now and they are at 58% sold to-date. Good news for those 34+ floors on X.
 
Why is the building always severed at the top when something like this happens? Can't they rejig the building into a smaller footprint which retains the height of the original but just has fewer units per floor? People who are moved up a couple of stories aren't going to mind and those who will loose a few floors could be compensated monetarily.
 
ProjectEnd said:
Why is the building always severed at the top when something like this happens? Can't they rejig the building into a smaller footprint which retains the height of the original but just has fewer units per floor? People who are moved up a couple of stories aren't going to mind and those who will loose a few floors could be compensated monetarily.
Click to expand...

probably to save money? Im guessing it costs a heck of a lot less to just shorten the building, rather than redesign the building.
 
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