Toronto 1 King West Hotel and Residence | 176.17m | 51s | Stinson | Stanford Downey

fedplanner said:
WTF? This can't be cheap. The owners in the condo association must be pissed!!!
Click to expand...

It has been known for a long while that there were major deficiencies in the exterior wall of the One King West building - the rebuild has been a long time coming. I believe the problem has been systemic water penetration. I am not privy to the details for the funding of the rebuild - whether there will be any compensation from the designers (professional liability), the suppliers and contractors, the developer (which would presumably be from the Mirvish side, as opposed to Harry Stinson), or how much of the cost the owners will be absorbing through some combination of their Reserve Fund, a Special Assessment, or incremental funding from the Maintenance and Repairs line of their annual operating budget.
 
AHK said:
It has been known for a long while that there were major deficiencies in the exterior wall of the One King West building - the rebuild has been a long time coming. I believe the problem has been systemic water penetration. I am not privy to the details for the funding of the rebuild - whether there will be any compensation from the designers (professional liability), the suppliers and contractors, the developer (which would presumably be from the Mirvish side, as opposed to Harry Stinson), or how much of the cost the owners will be absorbing through some combination of their Reserve Fund, a Special Assessment, or incremental funding from the Maintenance and Repairs line of their annual operating budget.
Click to expand...

Just so we're on the same page. The entire building is being reclad??
 
I'm an owner in the building and can confirm that this likely the restoration of the historically designated parapet. I know we are also doing work on the stone facade.
 
wQ1bnrx.jpg
 
By the way, we are also undertaking a full renovation of all suites and corridors starting in May at a cost of $15M. The suites will be really nice once complete and should add to our income levels.
 
Interesting, isn't this costing all existing owners quite a bit ? Or was is it coming from the reserve fund and was planned for a while ?
 
civdis said:
By the way, we are also undertaking a full renovation of all suites and corridors starting in May at a cost of $15M. The suites will be really nice once complete and should add to our income levels.
Click to expand...

Good to hear. I found the rooms looked a little dated the day the place opened!
 
Most of the cost is taken care of by a reserve fund that participating suite owners contribute to every month. The fund wasn't quite sufficient for the average suite reno cost of $30k so we are having to kick in $6k to $9k each depending on suite size. The new suite will be beautiful when complete. The project will be done 2 floors at a time and should be complete by early fall.
 
Are the glass, mullions and precast being changed on the modern tower or is it not being touched at all (exterior wise)?
 
The facade looks amazing when restored. One gets a better appreciation for the architecture of heritage buildings when you can see which colours the architects chose for the building, in this case grey with warm yellow-beige accents.
 
You must log in or register to post here.

Back
Top