Toronto Grid Condos | 157.88m | 50s | CentreCourt | IBI Group

[neuhaus]

Why is everyone saying this will be mostly occupied by Ryerson students? Just because it is close to Ryerson? Does that mean every condo near UoT is mostly occupied by UofT students? What makes it so unappealing for non-students?

This building is marketed to investors as being alternative student housing and being next door to Ryerson. There is a huge demand for student housing given the ever growing enrollment each year and lack of dorms being built. Even the amenities of this condo are designed around student living: i.e. a learning centre, café lounge, and breakout/study rooms.
There was a condo development next to the U of T Scarborough campus that was designed/marketed the same way last year and it sold out in days.

It will be interesting to see how these units are eventually occupied and how the minority of non-student residents cope living there.
I remember my university days a long time ago, I definitely don't want to live in a building that has a high population of young people/students who may not have a lot, or any, experience living outside of home and may not be the most responsible of people.

 

[Stupidandshallow]

There's such a glut of proposed projects that are marketed towards investors as "Student" housing in this area. Surely the demand couldn't be that high?

I wonder what will become of this building in the next 10-20 years?

 

[interchange42]

Assuming that Ryerson sticks around, more students renting from the same or new investor unit owners.

42

 

[khris]

Living in a building with lots of students is awful. I currently live near Ryerson, and there are so many students in my building. Most of them have no respect for other tenants at all. I guess when you have no understanding of how much money is needed to pay the rent because mommy and daddy are paying it.

 

[torplanner]

Anyone know the status of the OMB hearing? (or its case file number?)

 

[interchange42]

The case number is PL141461. The hearing was scheduled to start on May 25th. The OMB website has not been updated to indicate that there is a decision yet.

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[ChesterCopperpot]

From Jeremiah Shamess on Twitter:
More Purpose rental coming to Market! WAM Developments closes on 4 acre+ block on the east side for ~$100mm to build 1.7m SF of density

Off-topic - but this was reported in Realnets' 2Q newsletter that WAM have bought a string of properties on Queen St East for $70.8million

 

[Bill_TO]

Anyone know the status of the OMB hearing? (or its case file number?)

The OMB site is now updated with a decision. Looks like the Grid building needs to be 12.5 meters from the south property line. It also indicates a tower floorplate of 507 sq. meters. Also mentions that a section 37 agreement needs to be finalized.

 

[Trueeast]

http://www.omb.gov.on.ca/e-decisions/pl141461-Jul-21-2015.pdf

Question? What happens to the purchasers as per tarion? I assume a reduction of that size 30% smaller will require a total redesign and a shift of the elevator core.

 

[innsertnamehere]

That large of a change would likely require an entire building redesign and the refunding of deposits, if the project even happens any more, the finances have likely been shot to sh*t now.

 

[Solaris]

I wholeheartedly agree with the Board's decision and Amexon's objections, this outcome (CentreCourt losing 1/3 of floorplate and likely have to cancel deals to redesign the project) serves them right for being greedy trying to grab development rights over adjacent property AND starting pre-sales before even coming close to securing Zoning approvals

 

[ShonTron]

I'm wondering now about the rush to vacate the rooming house at 235 Jarvis. The whole plan seemed slimy, so I'm glad for the OMB decision.

 

[stjames2queenwest]

I like the grand hotel as is. I do not like the idea of it being redeveloped. With a floor plate that size at that height or taller to make up for the lost units would be very slim and striking though.

 

[torplanner]

While I really like the Grid's design, this is a good decision ultimately.

 

[torplanner]

This decision, especially the floor plate part, could have interesting implications for the proposal at the SE corner of Church and Dundas (which is proposing more than 750sqm floor plates), and the tower on Mutual south of Dundas.