Northern Light
Superstar
This new to the AIC application for a 63s residential tower is now public facing.
The site as is:
The App:
www.toronto.ca
From the above:
Site Plan:
Ground Floor Plan:
Typical Tower Floor Layout:
Elevator Ration: (though 4 elevators show at-grade, most of the building is served by 3 elevators) So 3 elevators to 357 units, is 1 elevator per 119 units.
Thoughts:
A tower floor plate that is sub 500m2 is generally not considered viable from a sales/rental point of view, and to the extent it were otherwise, the site would be positioned as luxury, the proposed suite sizes are more in line with investor boxes.
This does not math out for me, so I'm inclined to think this is a vapour ware app. But I will let @ProjectEnd chime in on that.
Set that to one site, it looks ok, its go workable precedents, but may be challenged to separation distances here; this would severely limit the City's site just to the east in terms of development potential. Also a potential issue is shadows on St. James Park, though the site is far enough west and being pencil-thin, I expect it would be a minimal issue.
Worth noting here, the applicant was encouraged by Planning to see out CREM (The City's real estate arm) to discuss combining this with the City's site, which would potentially make something work here much more easily. CREM apparently dismissed the applicant with a 'no interest at this time'
In a word, 'dumb'. At least take the meeting, layout out your needs to the applicant to consider a sale or JV, then let them work out whether there's a deal to be made.
@Paclo
The site as is:
The App:
Application Details
www.toronto.ca
From the above:
Site Plan:
Ground Floor Plan:
Typical Tower Floor Layout:
Elevator Ration: (though 4 elevators show at-grade, most of the building is served by 3 elevators) So 3 elevators to 357 units, is 1 elevator per 119 units.
Thoughts:
A tower floor plate that is sub 500m2 is generally not considered viable from a sales/rental point of view, and to the extent it were otherwise, the site would be positioned as luxury, the proposed suite sizes are more in line with investor boxes.
This does not math out for me, so I'm inclined to think this is a vapour ware app. But I will let @ProjectEnd chime in on that.
Set that to one site, it looks ok, its go workable precedents, but may be challenged to separation distances here; this would severely limit the City's site just to the east in terms of development potential. Also a potential issue is shadows on St. James Park, though the site is far enough west and being pencil-thin, I expect it would be a minimal issue.
Worth noting here, the applicant was encouraged by Planning to see out CREM (The City's real estate arm) to discuss combining this with the City's site, which would potentially make something work here much more easily. CREM apparently dismissed the applicant with a 'no interest at this time'
In a word, 'dumb'. At least take the meeting, layout out your needs to the applicant to consider a sale or JV, then let them work out whether there's a deal to be made.
@Paclo
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