Toronto 1 Yorkville | 183.18m | 58s | Bazis | Rosario Varacalli

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arearesident18 said:
During rezoning process there is a negotiation process between developer and historical board on what and how much should be retained.
Along Yonge Street the city ask for a 10m full retention. In other parts of the downtown it could be as low as 3-5m.
Prior to new zoning being finalized the developer must enter into agreement with historical department and have a full presentation plan in place with cost on how much it will be. The developer must put up Letter of credit to the city for that amount, as a security that all preservation and restoration work will be done.
Developer also must retain a historical architect who works in conjunction with regular architect.

As for removing the wooden floors , under the new Ontario building code for Highrise you can’t have wooded floors in the structure, because historical buildings are part of the overall development the wooded floors are removed. some times one department contradicts the other one.
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These "deposits" (along with other developer fees like section37 community benefit) are required to be paid for or handed over in trust to City prior to Building Permits being issued; this ensure developer pays.

Problem arise later if "deposit" doesn't cover the "increased" amount of restoration. This is what happened at Bazis' EmeraldPark where the approximately $6.5mil handed over to City held in-trust for LansingUnitedChurch CommunityCentre (sold air rights to EmeraldPark) didn't cover the additional $1million "increase in cost" demanded by Bazis/TMG builder (for their own "learning cost" since they never built a community centre before); BTW, that community centre still not opened 2.5 years after Bazis' EmeraldPark opened,... hmmm,... have Bazis/TMG ever restore any heritage structure before???

Oh,... and these developer fees/Section37 contribution will end up on condo buyer's final closing cost with interest resulting in probably about 15-20k unexpected closing cost.
 
As usual Sunnyraytoronto does not know what he is talking about.
On Emerlad park project developers ( Bazis and Metropi and Plaza) paid $6.5M to the church for their density, and offered to build the new church.
Church decided to build the church themselves and probably it run over budget.

On 1 Yorkville or any other project which has historical restoration component, the city gets their own estimate for how much it will cost, then 100% of that cost get put up as LC to the city. Then developer starts the restoration at his own cost. So basically the city has 200% of need cost to finish the restoration. Developer will not be able to register the condo till 100% of the restoration work is complete.
If developer can not finish the restoration then the city has the right to come in and finish the restoration using the deposit money.
 
arearesident18 said:
As usual Sunnyraytoronto does not know what he is talking about.
On Emerlad park project developers ( Bazis and Metropi and Plaza) paid $6.5M to the church for their density, and offered to build the new church.
Church decided to build the church themselves and probably it run over budget.
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Your statement is false. LansingUnitedChurch did value engineering and found they were being overcharged by Bazis; so they found a different ProjectManagement/Builder
and "divorced" themselves of anything to do with Bazis EmeraldPark. Since this relates to Bazis' EmeraldPark, I've responded in details on that thread,... and my proof uses CityPlanning's Final Reports, City Council Motion/Results, Committee Of Adjustment decisions & Church links,...
http://urbantoronto.ca/forum/thread...-rosario-varacalli.4829/page-174#post-1276683
http://urbantoronto.ca/forum/thread...-rosario-varacalli.4829/page-174#post-1276684


arearesident18 said:
On 1 Yorkville or any other project which has historical restoration component, the city gets their own estimate for how much it will cost, then 100% of that cost get put up as LC to the city. Then developer starts the restoration at his own cost. So basically the city has 200% of need cost to finish the restoration. Developer will not be able to register the condo till 100% of the restoration work is complete.
If developer can not finish the restoration then the city has the right to come in and finish the restoration using the deposit money.
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Would you have a link?

One would think such conditions would be written into CityPlanning's Final Report for this project; but I can not find any such conditions. Closest thing in CityPlanning's Final Report relates to Affordable "Rental Replacement" on page 47-48 "All of the rental replacement dwelling units shall be ready and available for occupancy no later than the date by which 80% of the other dwelling units erected on the lot pursuant to this By-law amendment are available and ready for occupancy"
http://www.toronto.ca/legdocs/mmis/2015/te/bgrd/backgroundfile-78384.pdf

In addition, the historical storefront remains private property; thus, it would be very difficult for City to perform the restoration on private property. This is similar to the Bazis EmeraldPark TTC entrance situation that was late for 2 years because Bazis refused to complete the portion within their EmeraldPark building, Bazis just kept on asking for extension after extension,... EmeraldPark TTC entrance finally opened 2 years after occupancy,.... and still not completed to TTC specification.
http://www.westlansing.ca/Local-News/Poyntz-Subway-Entrance-Delayed-Once-Again.aspx
http://urbantoronto.ca/forum/thread...-rosario-varacalli.4829/page-133#post-1160879

BTW, you know City/TTC despise Bazis when they release Bazis Project Manager's (JG) personal cell phone number at the subway entrance Bazis after Bazis misses 6 promise delivery date within 1.5 years for EmeraldPark TTC entrance:
http://urbantoronto.ca/forum/thread...-rosario-varacalli.4829/page-141#post-1171795

How can we be sure the Bazis' EmeraldPark TTC entrance fiasco won't repeat itself here at Bazis' 1 Yorkville?
 
sunnyraytoronto said:
BTW, you know City/TTC despise Bazis when they release Bazis Project Manager's (JG) personal cell phone number at the subway entrance Bazis after Bazis misses 6 promise delivery date within 1.5 years for EmeraldPark TTC entrance:

How can we be sure the Bazis' EmeraldPark TTC entrance fiasco won't repeat itself here at Bazis' 1 Yorkville?
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Lol:D, you mention Bazis when the City/TTC are the biggest culprits on delivering anything on time, who you kidding?
 
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