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Toronto M5V Condominiums | 118.87m | 35s | Lifetime | Core Architects
grey
Senior Member
It's clearly a no-go as you can see from the excavation pics on the previous page.
Credit cruuuunch!!
Credit cruuuunch!!
cdr108
Senior Member
gbelan
Active Member
in todays star there was a notice for rezoning for 56 blue jays way (southwest corner of king /bluejays way).could this be where m5v sales office is ? it is for a 41 storey res building.
The Condo Observer
Active Member
Direct Question to the Developer
mazyar, as the developer can you tell us exactly what the status is of this project, and if you have been affected by the credit crunch?
i think its flattering that our project has received so much time on this blog.
I will fill in some of the questions and though inherently subjective, i am writing to give the perspective of the developer.
We acquired the site over a year ago and as observed we went through a lengthy process with the city. We started the process by initiating an extensive urban study, that was not required, but something we thought would help shed light on what would work on this site. We reviewed this with the city and explored heights and setbacks. We went throuth several various itterations with the city and reached a point where we had agreed on most matters, we had been advised by the city that they were concerned about the height but never an indication that they were outright opposed. After more than eight months of working with the city we were told that they completly opposed the project and that only a 20 storey building would be considered. For those wondering about shadows, the impact of the proposed building on the north side of the street is the same with the as of right building that would be approximately 10 stories! The second phase of the hudson project is approved at 32 stories, the tiff building at 42 stories. It is very frustrating when you make all best efforts to engage in a collaborative process and then the direction is changed at the 11th hour. Our commitment in quality development is shown in our previous projects and our sensitivity to urban morphology can be specifically seen in our dia project (www.dialife.ca). Dealing with the city is truly challenging, i'll leave it at that. We are going to the omb.
As for profitability, the project would not be profitable at 20 stories. The one thing that is always ignored when talking about the 'greedy' developer is the level of risk that is assumed and the time of payback. Typically a developer will not see return on his investment for 4-5 years after he has started spending and given the volatility of the market, a dollar spent today is absorbing the risk for the next 5 years...and all the news about the market bursting and prices crashing...though we are confident in the market, hence launching m5v, it does enhance the risk.
As for m5v itself, it is definitely a departure from the norm. As a company we are committed to offering an experience that is different. We did not want to make this lip service and so the sales office was designed to really show that we are committed to making a difference and showing that living in a condo is not compromising home living. We speant the year leading upto the launch listening to what home buyers had to say, and we are making our best efforts to respond. Our commitment is shown in the design, the opportunities to customize and the buildings commitment to leed, the sales office will be the first ever leed registered sale office. Our project brochure is also a shift, with a focus on resource and home buying information.
And as for the $4 mil suite, yes, its one of the penthouse units at over 4000 sqft, with roof top terrace, internal courtyard, and views from the east to the south and the west! If you wanted the $3.5 mil one to the east, too late, its sold for now
on a separate note we have set-up a blog on our webiste (www.m5vlife.com) i would invite all of you to post the comments here on our site. We would love to see this kind of discussion going on more openly.
Please visit the sales office, not to buy, but to see the difference. In sea of sameness, we are confident that our difference is truly unique.
Thanks,
mazyar
mazyar, as the developer can you tell us exactly what the status is of this project, and if you have been affected by the credit crunch?
grey
Senior Member
No, that's related to the development on the current Diesel Playhouse and Jeff Healey's Roadhouse site south of the M5V sales centre.
There's a thread about that here: http://urbantoronto.ca/showthread.php?t=6648
There's a thread about that here: http://urbantoronto.ca/showthread.php?t=6648
digi
Active Member
They finished the Score a few months ago. there is now scaffolding up around the rest of the building , and they appear to be changing to colour to a dark grey.
Huh. Something more sober for Hyatt.
Condo Observer: Mazyar is no longer a member of the forum, I don't know why.
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Condo Observer: Mazyar is no longer a member of the forum, I don't know why.
42
The Condo Observer
Active Member
Really? I hope that is true. This building needs some serious help. I am grateful that someone recognized the potential of this property (ugliness notwithstanding). With the Ritz Carlton around the corner, Bell lightbox a block away, and M5V rising opposite, I think the Hyatt Rebranding is a good move. Keeping my fingers crossed that they are trying to revamp the cladding...
catcher_of_cats
Active Member
It is true. The first few floors along King Street are now dark grey, with the detailing more pronounced then before. I wonder what type of paint they are using?
gbelan
Active Member
whatever they are using lets get more and use it on FCP. lol
The Condo Observer
Active Member
Probably something with Kynar...
digi
Active Member
Yes, because painted marble would look so classy.
The panels are anodised aluminium, dyed white, hopefully they're redying them.
Jayomatic
Active Member
Nope. They are simply using a paint roller.
grey
Senior Member
Are they encouraging people to scratch their initials into it?