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467-469 Spadina Road (Spicecart, 4s, ?)

I'm not familiar with the 0.01% real estate, would these units really sell for $25M/each? I thought you could get a fully detached mansion with a front/back yard on a less busy Forest Hill street for that much.
 
This is a real wacky project. I'm not sure who would pay $25M to live ON Spadina, with your backyard neighboring an old auto-body shop (aka the Village's only hint of industry). You CAN 100% buy a lot on a proper Forest Hill Street and build your dream home for $25M. This quote on the website from McWengle (great name by the way) also makes zero sense: “This building was built in 1888. Someone’s going to think this was an original building that was here. That’s where there’s a difference. And that is the whole intent.”
 
This will sit for a long time. It's a shame no developer is interested in actually restoring the beautiful old apartment building. It would be put to much better user than this ultra-luxe garbage. This location so close to the subway and the village should be much denser than what's there now, not less. Obviously a high-rise is a no-go here but restoring this building would be best use of land.
 
I don't get Mark McEwan's involvement with the project. What exactly did he design in the house. Aimed at overseas money not someone in Toronto.
 
I'm just as perplexed by this development. If I had a spare 25 million laying around, I definitely wouldn't be investing it into this.
 
Google street view of the site as of May 2019. Unfortunately, the project website is still active: http://www.469spadina.com/

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