Toronto 530 Yonge Street | 224.8m | 68s | KingSett Capital | Giannone Petricone

Koops65 said:
Strange that all the forum members in-the-know say it won't get built, yet the city approves it? Something is off here...
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The City approves lots of things that don't get built. Whether it actually does get built is sorta irrelevant to the City, at least when it comes to the approvals process. Their job is just to approve/deny the application based on what is proposed, not on likelihood of construction.
 
...I think that's the point of the zoning exercise. That is, the current owner and likely eventual seller gets the critical paperwork done so that the future purchaser doesn't have to, giving the narrative of a deal. Least that's what I think is going on.
 
UtakataNoAnnex said:
...I think that's the point of the zoning exercise. That is, the current owner and likely eventual seller gets the critical paperwork done so that the future purchaser doesn't have to, giving the narrative of a deal. Least that's what I think is going on.
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When a developer buys a piece of land that they need to rezone themselves, there's a risk that their project won't get approved to the specifications that would give them the return they are after.
It's also a time consuming process.
So, the value it's intended to provide is the removal of a layer of risk for the would-be builder.
It gives prospective purchasers of the zoned land certainty as to what they can build.
And, certainty around timing as well.
 
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It looks like they will be looking at this application on (or after) November 27, based on the signage on site.

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