Toronto One Bloor West | 308.6m | 85s | Tridel | Foster + Partners

Tonight

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unrealestate said:
The ones in the foreground made developers rich while 1BW bankrupted its developer and is losing millions. kind of illustrates how we end up with a city of banality
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The province of Ontario should've stepped in and grant Mizrahi a loan to cover the building and Ontario and Mizrahi would've made money and it would've been a complete success story
 
torontodweller said:
The province of Ontario should've stepped in and grant Mizrahi a loan to cover the building and Ontario and Mizrahi would've made money and it would've been a complete success story
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That's an absolutely terrible idea - why should the government *ever* take on a project like this? Nevermind the dubious financial transactions - just what public good would government involvement in this project provide? The private lenders involved are knee deep in loss.

AoD
 
AlvinofDiaspar said:
That's an absolutely terrible idea - why should the government *ever* take on a project like this? Nevermind the dubious financial transactions - just what public good would government involvement in this project provide? The private lenders involved are knee deep in loss.

AoD
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because it would make the province of ontario money. it is a massive project with a ton of money making possiblities. if he doesn't pay his loan than the province can just take the building and sell it or lease it out and still make it's money back. it's a no lose opportunity
 
unrealestate said:
The ones in the foreground made developers rich while 1BW bankrupted its developer and is losing millions. kind of illustrates how we end up with a city of banality
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No it does not.

Plenty of attractive buildings have gone up and made their owners healthy returns on their investment.

This particular project was well beyond anything Mizrahi had ever attempted, He was frankly well beyond his brief..........

Additionally, he took on high interest debt, incurred penalties from his financiers for failing to meet deadlines........etc etc.

None of which has one whit to do with architectural ambition.
 
torontodweller said:
because it would make the province of ontario money. it is a massive project with a ton of money making possiblities. if he doesn't pay his loan than the province can just take the building and sell it or lease it out and still make it's money back. it's a no lose opportunity
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Where are you getting this information from?

This project has virtually no chance of breaking even or turning a profit at this point.

Certainly, had it been structured differently and better managed, it might well have returned a healthy ROI, but that ship sailed long ago.

Government, in any event, should not be in the business of bailing out for-profit investors/builders, that's called moral hazard.
 
Northern Light said:
Where are you getting this information from?

This project has virtually no chance of breaking even or turning a profit at this point.

Certainly, had it been structured differently and better managed, it might well have returned a healthy ROI, but that ship sailed long ago.

Government, in any event, should not be in the business of bailing out for-profit investors/builders, that's called moral hazard.
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the potential is there to make a ton of money. it's a world class building with the latest infrustructure so it will make money.
 
torontodweller said:
the potential is there to make a ton of money. it's a world class building with the latest infrustructure so it will make money.
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You're saying things that are not accurate. You have no evidence, because there is none, you're simply making stuff up. This is not a development fan fiction forum.
 
Northern Light said:
You're saying things that are not accurate. You have no evidence, because there is none, you're simply making stuff up.
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Northern Light said:
You're saying things that are not accurate. You have no evidence, because there is none, you're simply making stuff up. This is not a development fan fiction forum.
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how do you know? where's your proof it wouldn't work?
 
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