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Maple Leaf Square 
15 York Street, Toronto
Developer: Lanterra Developments, Cadillac Fairview, Maple Leaf Sports + Entertainment

Residences of Maple Leaf Square Condos (Lanterra Developments) - Real Estate -

Discussion in 'Real Estate - Individual Project Threads' started by vultur, Aug 25, 2007.

  1. vultur

    vultur Active Member

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    Call me a cynical bastard, but the premium that the developer is getting for this project simply because of its link to the hockey club is a giant punk on the people of Toronto. To pay that kind of money for such an inferior location just because the hapless Leafs are nearby is an insult to the intelligence of this city. Superior but older buildings in Yorkville- arguably Toronto's more desirable condo living area- are trading at a discount to this project.

    It just makes the City look very provincial in my opinion. Slap on anything related to hockey and the town goes bananas, regardless of the quality.
     
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  2. cassius

    cassius Active Member

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    ^ You can't seriously believe that people are purchasing these units and paying extra just because of a fondness for the Leafs? It's more than just a condo, is steps away from what's probably the largest public transit hub in Canada, and direct indoor access to it and kilometers of shopping element-free.
     
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  3. rp07

    rp07 Active Member

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    I agree. This isn't just a simple condo development. It's lot more than that. It will a hub for huge entertainment and sporting events. There will be restaurants and shopping galore. People will be flocking this area once the project is finished. It will be exciting and amazing! Can't Wait.
     
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  4. b13

    b13 New Member

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    Do you have anything nice to say? Over at SSC you act the same way very negative. Yes everyone has their opinions but it seems like everyhting in this city is like crap to you! just relax a bit.
     
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  5. buildup

    buildup Senior Member

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    There are tangible and intangibles that contribute to the value of a building. Presumably those condos at Summerhill are at a premium because they are close to the converted train station. MLS is distinctive in the sense its location is unique from a sprts perspective. That is enough for some people, perhaps not for you.
     
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  6. vultur

    vultur Active Member

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    There are already THOUSANDS of new condominiums in the area with a healthy amount of resales every month. This project was marketed entirely on the rep of the hockey club. Did you not hear the advertisements on the radio? It was Joe Bowen, famed Leaf announcer!

    People in this town are such sheep, it's embarrassing. Two minutes in the penalty box for being such a lemming! To describe this wind tunnel zone as a hub for entertainment is extremely misleading. Since when is living next to a sporting area an amenity? Penn Station in NY is hardly a desirable neighborhood. They are putting a longo's there, big deal. There are Loblaw's and Sobey's everywhere in this city. To call it a shopping district is ridiculous. I'd take King West in a heartbeat.

    And since when is criticism in a public forum a crime? It is more interesting than sitting around and falling over each other to compliment the developers on their inferior buildings!

    1 St. Thomas is gorgeous, as is the new Hazelton.

    Feel better now?
     
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  7. urbandreamer

    urbandreamer recession proof

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    I agree. Vultur's perspective makes things more interesting. It reminds my of a stock forum I hang around in: anyone who has negative opinion of the company (let's say a project for comparison's sake) is deemed a "basher." Immature to say the least. Whether vultur is a real investor, a jaded old man or a working class guy pissed off at missing out on the real estate boom--it doesn't matter but his POV is refreshing and stirs up debate! Debate arguing and criticism: I love it!

    I think MLSE condo's will improve the neighbourhood--but the area is still very much a wasteland and really for comparison's sake reminds me more of MCC (that's mississauga city centre) than a happening walkable downtown Toronto neighbourhood. It was branding genius: you've got how many Leaf's fans? Millions maybe? (I'm not a huge sports junkie but then I don't have a TV.) A perfect opportunity to take advantage of their "patriotism" (for leaf's fans are more patriotic to their "cause" than the average Canadian is to their country!)

    MLS condo buyers may not know it, but what they truly are: pioneers! 20 years from now, while the condos will no doubt look disgustingly dated, the area could become the next Y+B. Holts on the Waterfront? Why not?
     
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  8. cassius

    cassius Active Member

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    Okay, apparently you do "seriously believe that people are purchasing these units and paying extra just because of a fondness for the Leafs". How you can't recognize, or admit, that the project is quite different in many regards from most condos going up is beyond me.

    To quote the first page of this thread.....
    =============
    866 residential units in a 50 and 54 storey glass and precast towers.
    20,000 square foot roof top garden and pool for residents
    140,000sf sports and entertainment themed hotel with 171 rooms
    6,000 sf five star restaurant
    20,000 sf high-tech sports bar and restaurant
    170,000 sf retail space on three levels including 48,000 sf Longo's grocery store and 9,000 sf Leafs, Raptors and Marlies store
    2,000 sf broadcast studio
    60,000 sf concert hall with 2,000 seats
    50,000 sf office space
    6,000 sf day care with 3,000 sf dedicated outdoor space
    4 levels of ug parking with 870 spaces
    =============

    Yup, looks exactly like the "already THOUSANDS of new condominiums" in the area.
     
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  9. urbandreamer

    urbandreamer recession proof

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    4 levels of ug parking with 870 spaces

    Actually, it looks more like thousands of new cars in the area!
     
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  10. maestro

    maestro Senior Member

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    200 000 square feet of office space is available for lease
     
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  11. vultur

    vultur Active Member

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    Seriously, you have to concede the humor in this development. Where is the appeal to live besides a sports complex? Only in Toronto!

    What I see here is essentially a poor man's Time Warner Center in Columbus Circle. Instead of Whole Foods they get Longos. Instead of the Mandarin Oriental they get some non-branded place. Instead of Jazz at Lincoln Center they get a concert hall. Instead of views of Central Park they get...THE GARDINER EXPRESSWAY!

    Typical Toronto underachievers sold to the same herd of sheep would probably bought in Phase I, II-IX of the infamous City Place. At least there you'll get some peace and quiet when you come home, as opposed to a drunken Leaf fan looting the furniture in your lobby after yet another season without making the playoffs!
     
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  12. theman23

    theman23 Active Member

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    This project is pretty nice. I can't wait for it to finish, it's really going to improve the area. My only lament is that the Union Station renos aren't happening any time soon since that would have made the area even nicer.
     
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  13. Blovertis

    Blovertis Active Member

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    Why not? MLSE is only targeting the same market they've focused on for the last 40 years; those discerning few who love to shell out big bucks for an inferior product.
     
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  14. vultur

    vultur Active Member

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    Well put Blovertis. As long as the fans are paying too dollar for an inferior hockey squad they might as well paid top dollar for an inferior condo. Difference is at least with the seats there is an understanding that the purchase is mere consumption for entertainment as opposed to 'investment'. Here the purchaser is grossly misled to believe that the affiliation with the arena and teams will do anything but appreciate.

    Let's take the perversion one step further- Maple Leaf Retirement Home! I heard Darryl Sittler has already put down a deposit!

    The illogic of this development is just striking. Who really would want to live immediately adjacent to a sports arena that 2x week minimum will draw 15,000 spectators past your front door? Even the idea is madness!
     
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  15. Mongo

    Mongo Senior Member

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    Okay, vultur, time for some remedial marketing.

    It does not matter how many people would NOT want to buy some product. All that matters is that enough people DO want to buy it.

    The market for this project are those (generally young) people who want to live right downtown, near Union Station (and the ACC, of course) and blocks away from the lake front, downtown entertainment district, financial core, etc. The fact that MLS is next to ACC is probably secondary, but still considered to be a bonus -- enough of one to tilt the buyer away from the other condo projects in the immediate area (which do demonstrate the demand) and toward this particular project.

    Bill (wondering why he is bothering to reply to this person)
     
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