Toronto Mirabella Condominiums | 120m | 38s | Mirabella Dev Corp | Scott Shields

J

Josef

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Four Points Sheraton has been officially closed. Rumours are flying that a condo proposal will soon be in the works. Either way, that property won't be sitting around for long. The former hotel was doing very well.

Any further info would be appreciated.
 
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That's was rather abrupt. Everytime I drove by, it seemed packed. If a proposal is in the works, why would they not keep the hotel open till it was time for construction?
 
cruzin4u said:
That's was rather abrupt. Everytime I drove by, it seemed packed. If a proposal is in the works, why would they not keep the hotel open till it was time for construction?
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Exactly. It didn't make any sense to me either. Time will tell. Either a new hotel will be constructed or a condo. Perhaps the current building could be used as a sales office.
 
Given everything else around there, you can probably bet your sweet bippy it'll be a condo, or at least townhouses. (Though hopefully, *something* here'll have ground-level retail.)
 
I believe the land sold for around 4 million back in 1997 and is estimated at around 13 million now?
Id love the idea of town homes, but they wouldn't be profitable...

Anthony, unfortunately whatever is going to be built will take advantage of the height, as clearly the property
is rather small.
 
Hopefully, the architecture will be of good quality to enhance the sense of place because Lake Shore could be an attractive boulevard in terms of built form. It doesn't get blander or less inspired than the white grid podium of Park Lake Residences next door. That podium does nothing to animate the street; even its garage door looks cheap.
 
Josef said:
I believe the land sold for around 4 million back in 1997 and is estimated at around 13 million now?
Id love the idea of town homes, but they wouldn't be profitable...

Anthony, unfortunately whatever is going to be built will take advantage of the height, as clearly the property
is rather small.
Click to expand...

I thought Park Lake had issues getting approval for extra height.

If the new building remains the same height as PL I will be a happy camper!
 
If I remember correctly Build Toronto was pitching about 40 stories for the site directly west of the motel.
 
Youranthony1 said:
I thought Park Lake had issues getting approval for extra height.

If the new building remains the same height as PL I will be a happy camper!
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Yes, PL was supposed to be a little higher. I believe the owners of the hotel were originally aiming to increase their height, but after being refused, they opted for the facelift instead. Now that Park Lake exists, it provides a better chance of succeeding for the property next door.
 
Josef said:
Exactly. It didn't make any sense to me either. Time will tell. Either a new hotel will be constructed or a condo. Perhaps the current building could be used as a sales office.
Click to expand...

Perhaps it could come back as a boutique hotel.....call it the Seahorse....maximize revenue by dividing each day into 24 "units" and rent the rooms by the unit!
 
I heard Carterra is involved in the project -- I don't know who their partnering with on this project

I heard purchase price is about 26 mil
 
Interesting.

Anyone with realistic suggestions as to how the potential building should be designed?

I would assume one rectangular shaped building out of glass would be ideal or another two tower building similar to Park Lake's design?

I really hope this property won't sit like a dump for years. The area is notorious for that (Park Lake sales office, Joy oil station, property just west of hotel, etc.)
 
What we did to Harbourfront is happening in this area now too. Soon, the lake will be virtually blocked out by all of the condos lining the Lakeshore. I am not opposed to building along the lake, but anything like Park Lake, which is already a blight, is unacceptable. Furthermore, the heights and zoning should not be purely residential, but mixed-use and lower-rise buildings. Park Lake is not only terrible from the front, it is a disaster from behind (and yes I know it faces the highway).
 
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