Residences of Maple Leaf Square Condos (Lanterra Developments) - Real Estate -

Mike in TO said:
I guess the development is so illogical that MLSE has hosted delegations from a number of other NHL/NBA ownership groups including the Miami heat and Dallas stars that are carefully examining the development concept to see if they can pull of the same thing.
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That's exactly what Miami needs- more downtown condos! Do you not realize that the prices of units there have fallen something like 30% already?
 
vultur said:
Let's assume your 100,000 number is correct (please provide some proof of it if you can). Average newcomer household is what, 3 people? That leaves 33,000 new households a year. So just under half of them are buying shoebox condominiums for $360 per square foot. Yup, sounds reasonable.

Typically new immigrants rent apartments for a while until they get settled in a new city. But rents have barely budged in the GTA in 6 years. I wonder why? Could it be because of the all the specuvestor condos that are being dumped on the rental market?

What do you do for a living Caltrane? Let me guess, you flip pre-sale condos.
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backup for my numbers
http://www.demographia.com/db-cancma.htm

Of course rents have barely budged in 6 years..look at all the supply of condo apartments coming online for people to rent. There is a Competitive market here and at least we don't have a housing shortage like Calgary/Edmonton is currently experiencing.

But if the trend from the above numbers hold true, there will likely be more construction and more condo sales in the future, not only due to immigration but also due to the fact Toronto is a world city and global magnate for international cash, and our economy is relatively stable. The sub-prime mortage fisco is destroying dreams in the United States, but the Banks in Canada were never so easy with the Cash as the US banks.

No I don't sell and flip condos..I work in the Advertising industry.
 
Cal,

Thank you for the link but unfortunately it does not state year by year immigration stats for the GTA. Also, it is out of date as the census was updated in 2006.

Most of your points I agree with, save for Toronto being a world city and global magnate for international cash. Toronto is a regional city in my opinion, and the reason why specuvestors have set their sites on Toronto for condos has been a function of the global housing bubble that was exacerbated by generationally low interest rates everywhere. That trend has reversed, the housing bubble is deflating in America and so too will the syndicate groups recede rapidly here as the ultimate buyers unwind their positions.

Just my opinion of course. Nothing approaching panic on the horizon, but I see an end to the hurried pace of new developments.
 
That's exactly what Miami needs- more downtown condos! Do you not realize that the prices of units there have fallen something like 30% already?
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Yes - hence the fact that the concept was not pursued in Miami - the point of the post was not to compare local economic conditions, but to note that other teams are looking at the MLS project as a model to see what could work to enhance their brand and make a few dollars in their respective cities.
 
caltrane74 said:
You can't be serious.
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Of course I am. Tell me how Toronto stands out on a world scale? I love the city, but recognize its limitations. It doesn't need to compete with New York, Los Angeles, London, Paris or Toyko for it to be great place to live. The reality is that Toronto has very few (if any) attributes that can really stand up in a competitive way against those kind of places.
 
vultur said:
Cute. I actually cheer for the team because I love Toronto (despite what some of you seem to believe), but refuse to support them in any way financially due to the greed that was demonstrated during the most recent strike. The only time I attend Leaf games is when I am invited and even then I usually only go because it's good for business.
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What strike?
 
I believe it was the season before last. The greed demonstrated by both sides in that dispute really turned me off. Of all organizations, MLSE should be more sensitive to its fans considering they haven't given them a contender, let alone a winner, in decades. I consciously chose to direct my leisure dollars elsewhere; not like it makes any difference!
 
vultur said:
Toronto is a regional city in my opinion, and the reason why specuvestors have set their sites on Toronto for condos has been a function of the global housing bubble that was exacerbated by generationally low interest rates everywhere. That trend has reversed, the housing bubble is deflating in America and so too will the syndicate groups recede rapidly here as the ultimate buyers unwind their positions.
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There is no global housing bubble. For many parts of the word, there is a housing shortage.

Does anyone remember the Savings and Loan debacle in the United States? It came and went, too.
 
vultur said:
Of course I am. Tell me how Toronto stands out on a world scale? I love the city, but recognize its limitations. It doesn't need to compete with New York, Los Angeles, London, Paris or Toyko for it to be great place to live. The reality is that Toronto has very few (if any) attributes that can really stand up in a competitive way against those kind of places.
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I can think of two instantly. It's the financial capital of one of the world's richest countries and a major immigration centre that intertwines many cultures. Culturally, one of the world's biggest film festivals takes place here, and our theatre scene has some significance to the English speaking world. But it's modest and not the centre of world attention, reflecting Canada nationally. There's nothing wrong with that.
 
Hydrogen said:
There is no global housing bubble. For many parts of the word, there is a housing shortage.

Does anyone remember the Savings and Loan debacle in the United States? It came and went, too.
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...and brought the Toronto housing market to its knees...if you recall...
 
Residences of Maple Leaf Square

junctionist said:
I can think of two instantly. It's the financial capital of one of the world's richest countries and a major immigration centre that intertwines many cultures. Culturally, one of the world's biggest film festivals takes place here, and our theatre scene has some significance to the English speaking world. But it's modest and not the centre of world attention, reflecting Canada nationally. There's nothing wrong with that.
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I'll give you the TIFF. It does attract world attention for sure. Financial capital is a fraction of NY or London or even Duseldorf or Zurich I believe. Immigration does not connote to me anything beyond population growth. Greater Los Angeles adds more population every year than Toronto.

Again, I don't submit that Toronto needs to be playing at the global level to be a great place to live. But characterizing it as such belies the provincial attitude of its inhabitants. The world rarely sets its focus on Toronto, except for the 10 days of the TIFF. That is not in and of itself a negative comment, just an observation.
 
vultur said:
I believe it was the season before last. The greed demonstrated by both sides in that dispute really turned me off. Of all organizations, MLSE should be more sensitive to its fans considering they haven't given them a contender, let alone a winner, in decades. I consciously chose to direct my leisure dollars elsewhere; not like it makes any difference!
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There has been no strike in recent memory; perhaps you are referring to the lockout?

Secondly, why are you blaming MLSE's greed for the work stoppage? It's not like MLSE wasn't content with the old collective bargaining agreement; if anything, they were opposed to many of the provisions in the new CBA, such as revenue sharing. Under the old agreement, rich teams like the Leafs had an enormous advantage over the rest of the league that they've now lost. Are you aware that the Leafs now pay more into the league's revenue sharing pool than all the other teams combined? BTW, the new CBA merely brings the NHL into line with the other three major pro sports leagues in North America in making it a viable business in the smaller markets.

Had the status quo been left in place, many teams would have folded or moved. As greedy and dysfunctional (on the sports management side) as MLSE is, it's pretty ridiculous to blame them for the lockout. The players, the people who negotiated the previous agreement which was horrible for the owners, and the rampant expansion of the league to questionable markets, are the factors to blame.
 
vultur said:
That's exactly what Miami needs- more downtown condos! Do you not realize that the prices of units there have fallen something like 30% already?
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You're either rather ignorant of the actual Florida real estate market or you're hoping that we all are. It's pretty obvious that a decline in the Miami market is a part of the widespread real estate meltdown in Florida, and along the rest of the American coasts. This has far greater causes than some local condo market oversupply. How would you explain the equally significant drops in the price of Florida single family homes?

What baffles me, honestly, is why this excites you so much. Why do you feel the need to come on internet message boards and devote your time to making wild claims about how every building is a disaster and illogical and going to turn into a slum? Miami's condos aren't going to turn into vertical slums after dropping 30% in price, just as Toronto's waterfront condos didn't turn into slums after dropping more than 30% in the early 90s. In fact, I'd say it's a pretty good buying opportunity.
 
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