Toronto Pinnacle Lakeside (Phase 1) | 174.86m | 54s | Pinnacle | Hariri Pontarini

U

UrbanAffair

Senior Member
Member Bio
Joined
Nov 18, 2007
Messages
2,524
Reaction score
2,415
Location
Toronto
http://globenewswire.com/news-release/2014/07/17/651482/10089753/en/Greybrook-Closes-44-000-000-Equity-Financing-for-a-Multi-Phase-Waterfront-Residential-Development-Project-in-Partnership-With-the-Castlepoint-and-Cityzen-Development-Groups.html

Greybrook Closes $44,000,000 Equity Financing for a Multi-Phase Waterfront Residential Development Project in Partnership With the Castlepoint and Cityzen Development Groups
July 17, 2014 09:00 ET | Source: Greybrook Securities Inc. TORONTO, July 17, 2014 (GLOBE NEWSWIRE) -- Greybrook Securities Inc. and Greybrook Realty Partners Inc. are pleased to announce the successful closing of a $44,000,000 equity private placement of units of the Greybrook Waterfront Limited Partnership.

Proceeds from the placement will be used for the acquisition and development of a 2,000 unit multi-phase condominium project located on the Toronto Waterfront. The development will be done in partnership with the Castlepoint and Cityzen Development Groups, two of Toronto's leading residential developers.

The project, with an estimated completion value of approximately $1,000,000,000 is located on Toronto's waterfront, in the heart of Waterfront Toronto's exciting new re-development plan. The site, located at 215 Lake Shore Blvd East is currently occupied by FedEx as its primary tenant. When developed, the project will offer buyers both unobstructed lakefront views as well as panoramic views of the city skyline and is conveniently located just steps away from public transportation, Union Station and the center of the downtown core.

"The Castlepoint Group along with Cityzen Developments is proud to be partnering with Greybrook on yet another high profile development project," commented Mario Romano, President of The Castlepoint Group. "We are extremely excited about the partnership, this project and the opportunity to create something special for the residents of this wonderful city to enjoy for generations to come." Greybrook Realty's President, Peter Politis, shares Mr. Romano's enthusiasm on both the site and the partnership between the three firms. He commented: "Greybrook is thrilled to be working with Castlepoint and Cityzen on this marquis development project that will undoubtedly bring Toronto's waterfront district to a world class level. Castlepoint and Cityzen are among the most experienced developers in Toronto and we look forward to another successful outcome for Greybrook and our investors."

About Greybrook

Greybrook Realty offers investors the unique ability to invest alongside some of Toronto's best-in-class real estate developers and share in their value creation activities. Greybrook Securities, Greybrook Realty and their affiliates have been involved in the creation, development, construction and management of 47 projects totaling over 13,000 residential units.

Greybrook Realty provides asset management and advisory services to top-tier real estate developers, land owners and private equity investors.

This news release contains forward-looking statements that are based on management's current expectations and are subject to known and unknown uncertainties, which could cause actual results to differ from those contemplated or implied by such forward-looking statements. Greybrook is under no obligation to update or revise any forward-looking statements contained herein, whether as a result of new information, future events or otherwise.
 
So, a billion dollar project by Greybrook + Castlepoint + Cityzen... interesting indeed.... :)
 
Block B from the East Bayfront Draft Urban Design Guidelines (PDF).

EB Block B.JPG
 

Attachments

  • EB Block B.JPG
    EB Block B.JPG
    145.6 KB · Views: 21,722
It's too bad that none of the new waterfront developments are going to be anything tourist oriented or fun. Toronto has very few lively tourist areas, something most great cities seem to have a lot of. I'd like to see more entertainment/amusement type, tourist districts. There are very few places to take your family for a fun time and I'm not talking an amusement park, I'm talking about a lively, fun, interesting district like the Fishermen's Wharf/Ghirardelli Square area in San Francisco or Darling Harbour in Sydney Australia. We need more fun public spaces where Torontonians and tourists can go to just hang out but also have the option of going to a good restaurant or major attraction.
 
Torontovibe said:
It's too bad that none of the new waterfront developments are going to be anything tourist oriented or fun. Toronto has very few lively tourist areas, something most great cities seem to have a lot of. I'd like to see more entertainment/amusement type, tourist districts. There are very few places to take your family for a fun time and I'm not talking an amusement park, I'm talking about a lively, fun, interesting district like the Fishermen's Wharf/Ghirardelli Square area in San Francisco or Darling Harbour in Sydney Australia. We need more fun public spaces where Torontonians and tourists can go to just hang out but also have the option of going to a good restaurant or major attraction.
Click to expand...

I don't think the problem is so much the lack of good tourist areas but instead the lack of any remotely decent food at most of our public squares/parks. Instead of granting monopolies to various lousy food service providers, there should be great food stalls/restaurants at Centre Island/High Park/Beach/NPS/Roundhouse/Western Beaches. The Distillery have done this well, and Harbourfront is ok, and the plan for Ontario Place seems to address this. But one noticeable change in the last 10 years in many other cities is the quality of food options in parks, whereas in Toronto your food options at these types of places are so often limited to Pizza Pizza and, if you're lucky, a greasy burger stall.
 
Though, to be fair, it's not as if New York has done poorly when it comes to 'greasy burger stalls'...

shake-shack.jpeg
 

Attachments

  • shake-shack.jpeg
    shake-shack.jpeg
    53 KB · Views: 14,520
I would not be complaining about greasy burger stalls if there was a Shake Shack in the western beaches instead of a Pizza Pizza and "Royal Burger". (The Sunnyside Café, closed this year for renos, is a bit better option).
 
As has been pointed out in the LCBO Lands thread by AoD - these are just massing concepts

CHKxpNr.png


NoVvDLo.png
 
I like that the three towers are aligned on the eastern edge of the site so that there's either an expanding piazza area beside Sherbourne, or more likely, space to realign Sherbourne to cross Quay Queen across from George Brown, and then add space to Sherbourne Common Park.

I wonder how long before we see the Supporting Docs on this site?

42
 
City has probably been provided some info about it in pre application consultation meetings. That, or Bousfields grabbed the info from it themselves - they are likely the planning firm behind both applications.
 
ProjectEnd said:
Though, to be fair, it's not as if New York has done poorly when it comes to 'greasy burger stalls'...

View attachment 35180
Click to expand...

Yet, in Toronto we would have a way to ruin that free form space, by requiring a perimeter fence delineating the restaurant space from the public space.

Free floating chairs and tables on a patio - god no!
 
You must log in or register to post here.

Back
Top