365 Church (Menkes) - Real Estate -

[Southcore]

Anybody know how sales went at the broker event last week.

Very well. This building is nearly sold out at this point, this one went over well in a similar fashion that 1Thousand Bay, Casa II, Karma, INDX did in 2012. Expect an announcement from Menkes soon, who can now turn their attention to Harbour Plaza (they did a preview of it at the previous broker event for 365 Church)

 

[Thernan]

Very well. This building is nearly sold out at this point, this one went over well in a similar fashion that 1Thousand Bay, Casa II, Karma, INDX did in 2012. Expect an announcement from Menkes soon, who can now turn their attention to Harbour Plaza (they did a preview of it at the previous broker event for 365 Church)

Not a huge shock given it will be a 90% investor building. Good to hear though. If it keeps Menkes in the black, that means they can likely build more projects!

 

[urbandreamer]

Aren't they launching Noir next? Then HP later on?

 

[Southcore]

Aren't they launching Noir next? Then HP later on?

Not sure, but at the preview during the 365 event they said HP would launch in Spring 2013. Got to strike while the iron is hot and in a time when there isn't a launch every other week like the last two years.

 

[Xray_Crystal_Junkie]

They're already digging for HP, I would think that would be more pressing than the once failed Noir.

(Yes I realize they could cap it at grade and just go forth with One York, but I assume it would be more cost effective to build the whole thing when resources are already at your disposal rather than stop and start again in the future.)

 

[Sunny Batra]

Updates: Received a letter from Menkes which says that 365 Church has received final approval and will begin work on this exciting project very soon.

It has also been confirmed that demolition and site preparations are anticipated to begin in January 2014 and construction will start in the first quarter of 2014.