Amare
Senior Member
Great find thanks @NorthernLight and @BhadPetrov.
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330-350 Rathburn Rd W (Mississauga, Amacon Development, ?,?)
- Thread starter drum118
- Start date
khris
Senior Member
Is this even true? Where is the evidence that this is actually happening?
drum118
Superstar
Time will tell if it will happen as the building is close to 40 years old and not in great shape. It will depend on what Amacon will offer to the owners. The possibility of the owners moving into one of the new Amacon towers who will pickup the moving cost one way or another and putting money in the owner pockets as well.
ericmacm
Active Member
If the towers aren't in great shape, this makes sense then. It's always interesting and unusual to see this happen, but we usually get something much nicer and taller if it does.
I think the precedent for large building demolition in Mississauga was set once Camrost Felcorp took down that office building for the Exchange District condos. Fortunately, these towers have no real value from a street interaction or heritage standpoint so I really don't see anyone missing them all that much. Time will tell if these plans actually go through.
I think the precedent for large building demolition in Mississauga was set once Camrost Felcorp took down that office building for the Exchange District condos. Fortunately, these towers have no real value from a street interaction or heritage standpoint so I really don't see anyone missing them all that much. Time will tell if these plans actually go through.
khaldoon
Active Member
I am completely speculating here but I think the site couldn’t be simply redeveloped, as others have suggested by adding more towers, because the underground parking is under the south west section of the lot and not under the buildings themselves or maybe there is just one level of underground under the buildings proper. When such towers were built, land was not an issue and there was no need to optimize underground usage.
Bjays92
Senior Member
Unless these towers are in really bad shape, I'm not a fan of this. There is still so much land in MCC, this is not only uneconomical, it is also horrible for the environment to tear down something both of this size and this recently built.
If they're tearing this down they better be look at replacing it with something in the high 200's if not more. At least theres a precedent for buildings of that height in mississauga now.
Just don't want it to be like the grand hotel in Toronto. minimal height increase and architectural downgrade.
If they're tearing this down they better be look at replacing it with something in the high 200's if not more. At least theres a precedent for buildings of that height in mississauga now.
Just don't want it to be like the grand hotel in Toronto. minimal height increase and architectural downgrade.
Tuscani01
Senior Member
I cant see these coming down. The cost to buy out every unit, demolish, and then rebuild on the site makes full redevelopment sound unlikely.
If anything, I can see them buying the amenity pavillion that connects the two buildings, and a few units along the first few floors in order to build out the corner of Rathburn/Confederation, and also buying up the driveway and underground parking lot to redevelop on top. The amenities and parking can be replaced in the new development, which sounds like a much easier sell to existing residents vs. buying up all their properties.
If anything, I can see them buying the amenity pavillion that connects the two buildings, and a few units along the first few floors in order to build out the corner of Rathburn/Confederation, and also buying up the driveway and underground parking lot to redevelop on top. The amenities and parking can be replaced in the new development, which sounds like a much easier sell to existing residents vs. buying up all their properties.
khris
Senior Member
Huh? How are they not in great shape?
drum118
Superstar
That what I been told
Tim MacDonald
Senior Member
The cost of rehabbing parking garages, windows and exterior cladding can be eye popping. I had a unit ten years ago and the cost of replacing the windows and balcony door was 10k per unit. Fortunately, that condo corp was in good shape and had the reserve funds to pay for it. Others, like the one at Kipling and Steeles went into admin if I'm not mistaken but never did hear the outcome.
afransen
Senior Member
Units are still selling for >$500k, and mgmt fee is around $850/month. Not sure how many units are in these buildings but at $500k each it will add up quickly.
concrete_and_light
Active Member
I don't support these buildings being torn down but I can also see how if the prospect was losing parking for years during construction in order to build another building on the site, that the people who live here — in extremely car-dependant Mississauga — might end up leaning towards selling.
Amare
Senior Member
Even if the costs in this specific case or redoing the parking garages, windows, cladding, etc were taken into account in this specific case, I can guarantee it would still be cheaper than razing 2 substantially big towers with their parking garages, buying everyone who currently lives there out, then constructing an entirely new build.
Really it doesnt make any sense.
khaldoon
Active Member
Maybe if they can quadruple the number of units (4 towers of 40+ stories) and charge outrageous 1k/sft prices like what others are doing.