Toronto Aura at College Park | 271.87m | 78s | Canderel | Graziani + Corazza

It's not very surprising if it's that case ...

They've been financing a lot of commercial / residential projects throughout North America ... Dubai World I think.

It's not a bad sign actually ... a good one - they aren't as in bad shape as some of the larger banks and have a lot of money.


What was your conversation regarding 1 Bloor east like?
 
299 bloor call control. said:
I don't see why they would need a subway connection agreement if they aren't proposing to actually connect directly to the station. The subway connection is through College Park, and not directly from Aura.
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Although, with College Station slated to get a second entrance/exit further south, perhaps this has something to do with it?
 
DarkStar, here's what Mike in TO had to say about that though 4 pages back:

Mike in TO said:
1) A second College TTC entrance was closely looked at, however in looking at the actual dimensions of the current station footprint and the development site there were some gaps and complications with underground infrastructure. I think from a general perspective it seemed like an obvious connection, but once it was actually looked at in detail terms of space allocations, underground utilities and actual potential connections it was deemed infeasible by both the city planning department and the developer – which is unfortunate, but the station platforms don’t reach as far south as the Aura site and it would have been difficult to make any underground connection actually work.
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Maybe there will still be a south exit added someday as the TTC slowly adds second exits and elevators to all of its stations, but it doesn't look like that will be a direct link to Aura.

42
 
They have done preliminary planning work for a second exit at the south end of College Station, but it will likely only open up to the parkette at the end of Granby Street.
 
Why? Or does the real answer require endless digging to obtain.

get it, digging :)
 
Post #1303 from early November. Quote from Riz Dhanji, Vice President of Sales & Marketing for Canderel Stoneridge.

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When will the big hole begin to get dug? The answer, like the multi-million-dollar suites that will populate the upper floors of the Aura, is up in the air. A construction start is dependent on the overall sales of the condo units (they range in price from $500,000 to $17.5 million).

"We are very close to that point," said Dhanji. "We have sold approximately 75 per cent. Once another 5 to 10 per cent have moved we can begin. We are (also) waiting on the necessary approvals from the city, TTC and other stakeholders in order to get started, which we anticipate will happen in the spring."
 
Exodus said:
The following was an email that was sent out a while ago to purchasers of CP3 Aura. I will try to upload the pdf file, but here are tidbits of the email:

THE LATEST NEWS FOR AURA OWNERS
WINTER NEWSLETTER 2008


Sales Soar to Record Heights
Canderel Stoneridge would like to thank all purchasers for helping AURA at College Park achieve overwhelming sales success in such a short period of time.

In just 8 months, AURA has recorded sales of over 860 suites out of a total 931 – that’s 92% of the entire building sold making AURA the fastest selling condominium project in the history of the Greater Toronto Area.
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androiduk said:
Post #1303 from early November. Quote from Riz Dhanji, Vice President of Sales & Marketing for Canderel Stoneridge.

--------------------------------------------------------------------------

When will the big hole begin to get dug? The answer, like the multi-million-dollar suites that will populate the upper floors of the Aura, is up in the air. A construction start is dependent on the overall sales of the condo units (they range in price from $500,000 to $17.5 million).

"We are very close to that point," said Dhanji. "We have sold approximately 75 per cent. Once another 5 to 10 per cent have moved we can begin. We are (also) waiting on the necessary approvals from the city, TTC and other stakeholders in order to get started, which we anticipate will happen in the spring."
Click to expand...


Sorry, but I'm a bit confused.

From the above 2 posts, are they indicating that sales in November 2008 sales were at 75% and now as of Winter 2008 they are at 92% and construction is ready to start?

Or, OVERALL sales are at 92%, but the development is contigent upon 85% sales of the Penthouse suites (of which 75% are sold) before construction begins ?!?
 
A couple things could be happening
1) these figures aren't very accurate ...
2) the inaccuracies are caused by buyers pulling out in the initial period.
3) More likely, they're confusing (not the right word to use) % of unit sold and $ % of the entire project sold. Hence the big penthouse units contribute a lot to the later.

If this doesn't go through I don't think it will be because of sales ... same with 1 bloor east ... it'll be other issues.

In other words it really doesn't matter what sales % they're at it's likely well over whatever is necessary even in these times or pretty much right there.

Let's not forget city permits either as Solaris has pointed out a few times ... they are also not acquired for this site. The difference here is it seems the developer is actually admitting that much unlike the story at 1 bloor east (or at least what they are instructed to tell at the sales office) ... although these permits can take a while they are all but guaranteed so unless there are start date issues tied with financing (Have a loot at the Shangrila thread) this should also be a non-issue as well.

So in the end it all comes down to financing ... that's a realm filled with rumors and dis information so I doubt we'll know for sure for a while yet.
 
8 months to 92% sold = fastest selling condo in the history of the GTA?

Didn't Absolute beat it by about 7 months and a few days?
 
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