A
andreapalladio
Guest
Oh, dear. No, it was me. It made perfect sense to me at the time, but I've fixed it now to make it halfways intelligible. I hope.
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- Status
B
building babel
Guest
Makes perfect sense to me too. Nobody knows the underground city like our ap., I'll warrant.
B
building babel
Guest
Sapphire will be Stinson's 'Concrete Island'.
A
andreapalladio
Guest
Oh you flatter me. Or liken me to a CHUD. Or to Vincent in Beauty & The Beast. I'm not sure which.
A
adma
Guest
CHUD. Sounds like a radio station. So does WZMH, for that matter
T
thx1038
Guest
Progress!
On Friday May 19 th , we met with planners at the City of Toronto and presented to them more drawings of our revised format for the building, explaining in detail how the design addressed their concerns about shadows that would be cast on Nathan Phillips Square. While they appeared comfortable with the ‘direction in which we were going’, they suggested that they would like to see more detailed architectural renderings and floorplates. We took the position that proceeding with a full architectural program would be a major and costly exercise, and that we felt that before doing so we would appreciate resolving things more specifically, in particular the setbacks and building position on the site. To our great relief, FINALLY they provided a sketch outline of the building “envelopeâ€. However, we were only allowed to look at it and make notes, but NOT to take it with us. (Perhaps this will illustrate the surreal nature of the negotiation process we have been going through).
Nevertheless the information was indeed very useful (if not long, long overdue..).
During the following week we prepared detailed scaled (exterior) drawings, reflecting the proportions and positioning.
On Wednesday May 31 st , we met again with the planners to display the schematics. Our impression was that they were pleased with the format. We asked them if they saw any aspects that still seemed particularly problematic. They indicated that they did not immediately see any ‘showstoppers’, and agreed to review the material in detail and give us a written response.
The architect and our planning lawyer will stay in touch with the planners and the councilor, and hopefully nudge the commentary letter as soon as possible.
In the meantime, I have asked the architects to proceed with more detailed drawings.
We have a lot of time to make up.
Concurrently, our potential joint venture partner is ‘crunching numbers’ to determine whether to join in the development.
The next few weeks are likely to be significant ones for the project.
1) we hope to confirm that the planners are comfortable with the design
2) if so, the councilor will likely also be supportive
3) architectural work will resume in earnest
4) with luck, the joint venture can be resolved
5) we will finally close on 56 temperance (end of June)
6) a public announcement can be made (mid June)
7) existing purchasers can select new units (July)
8) public sales can resume (September)
9) resubmission of plans to City Hall (August)
We will keep you posted on these steps as they are achieved, rather than waiting for monthly updates.
Regards,
Harry Stinson
On Friday May 19 th , we met with planners at the City of Toronto and presented to them more drawings of our revised format for the building, explaining in detail how the design addressed their concerns about shadows that would be cast on Nathan Phillips Square. While they appeared comfortable with the ‘direction in which we were going’, they suggested that they would like to see more detailed architectural renderings and floorplates. We took the position that proceeding with a full architectural program would be a major and costly exercise, and that we felt that before doing so we would appreciate resolving things more specifically, in particular the setbacks and building position on the site. To our great relief, FINALLY they provided a sketch outline of the building “envelopeâ€. However, we were only allowed to look at it and make notes, but NOT to take it with us. (Perhaps this will illustrate the surreal nature of the negotiation process we have been going through).
Nevertheless the information was indeed very useful (if not long, long overdue..).
During the following week we prepared detailed scaled (exterior) drawings, reflecting the proportions and positioning.
On Wednesday May 31 st , we met again with the planners to display the schematics. Our impression was that they were pleased with the format. We asked them if they saw any aspects that still seemed particularly problematic. They indicated that they did not immediately see any ‘showstoppers’, and agreed to review the material in detail and give us a written response.
The architect and our planning lawyer will stay in touch with the planners and the councilor, and hopefully nudge the commentary letter as soon as possible.
In the meantime, I have asked the architects to proceed with more detailed drawings.
We have a lot of time to make up.
Concurrently, our potential joint venture partner is ‘crunching numbers’ to determine whether to join in the development.
The next few weeks are likely to be significant ones for the project.
1) we hope to confirm that the planners are comfortable with the design
2) if so, the councilor will likely also be supportive
3) architectural work will resume in earnest
4) with luck, the joint venture can be resolved
5) we will finally close on 56 temperance (end of June)
6) a public announcement can be made (mid June)
7) existing purchasers can select new units (July)
8) public sales can resume (September)
9) resubmission of plans to City Hall (August)
We will keep you posted on these steps as they are achieved, rather than waiting for monthly updates.
Regards,
Harry Stinson
A
AlvinofDiaspar
Guest
Post on Harry + Sapphire
From the Post:
Harry still dreams of new tower for downtown skyline
Plans revised to eliminate '17-minute shadow' on Nathan Phillips Square
Peter Kuitenbrouwer, National Post
Published: Thursday, June 22, 2006
Harry Stinson, the condo developer, says he has it all worked out. His proposed oval 80-storey Sapphire Tower, which city council rejected because it cast a shadow on Nathan Phillips Square, is now a 70-storey square tower with a sloped roof. By drawing the slope to match the average angle of the sun, he can almost completely eliminate that pesky shadow, he said.
"A 17-minute shadow for two months of the year, March and October, was their fetish," he said yesterday in his office in The Suites at One King West. "Councillors: They rant and they rave based on their marginal grasp of the facts."
Mr. Stinson said the city's planning department now tacitly supports the tower at Temperance Street and Sheppard Street. He hopes to bring it before council in September.
Even so, Mr. Stinson still has plenty to do at One King West, the old bank tower to which he added 30 floors of condos. When I stopped by yesterday on my walk up Yonge Street, I found crews erecting new scaffolding on the building. Turns out the terra cotta tiles are falling off.
Mr. Stinson said that construction crews paid by his partner, the impresario David Mirvish, neglected that job.
"All of their lawyers and sycophants and hangers-on siphoned off all the money," he said. "The key was to cut corners."
I love Harry Stinson. No matter when you bump into him, he's instantly airborne, sounding off at a mile a minute, expounding his great ambitions for building Toronto ever higher. In his office at One King West, he has a desk at counter-top height, because he never sits down. Rebecca, his daughter, has decorated its base with her drawings of a hot dog, a heart, a house and two butterflies.
Rebecca, Mr. Stinson and his partner, Linda Pannin, live right here, at King and Yonge streets. He says they are the cutting edge of a new trend in Toronto.
"There are an enormous number of people trying to live in the core," he said. "I don't want the hassle of sitting on the Don Valley. And it doesn't seem any safer in the suburbs."
Every morning, one of her parents takes Rebecca down to the ferry terminal at the foot of Bay Street and she, with several hundred other children, boards the 8:27 to Centre Island; on the other end a bus picks her up to take her to the Island School.
So now the Sapphire Tower, rather than a hotel and suites, will boast two-storey, three-bedroom homes, he said.
"There's no stats to show there's a market for this," he said. "I think there is."
Leaving King Street, I walked up to City Hall, where I bumped into Bruce Scott, from the office of Mayor David Miller. I told him Harry had it all worked out.
"Has he dealt with the plan to put parking on the first 14 floors of the building?" Mr. Scott asked. "Because that was the other issue."
I guess we'll wait to see the plans.
It was another beautiful day in the big city. Nathan Phillips Square bustled with crowds thronging the Wednesday Farmers' Market. Lorie Thiessen of Thiessen Farms, in Jordan Station, was doing a booming business in banana mint, golden sage, lovage and silver thyme plants, among others, $2.50 each or three for $7. The label on the spearmint warned, "Can be invasive!" I have some spearmint in my vegetable patch; Ms. Thiessen said I better dig it out.
That's the value-added of farmers' markets: you get to talk to people who actually grow stuff and know about produce and plants. Thiessen Farms now even supplies produce to the Law Society of Upper Canada.
"They fed me lunch," she enthused. "They just kept bringing course after course."
Ahh, yes. Those barristers and solicitors know which side of the bread the butter's on.
From there I headed west on Queen Street, swung down to King Street and bumped into Chris Mathers, the former Mountie who now has a booming business as a private dick. Lucky I wore a jacket yesterday; Mr. Mathers sported Cole Haan alligator shoes, tailored pants and jacket, and a striped shirt with French cuffs ("I always get an extra set of cuffs made, don't you?" he said). Aquarius Menswear makes his clothing.
"You can say that I'm looking for trouble, taking names and kicking ass," he said.
Hey! I thought that was my job!
AoD
From the Post:
Harry still dreams of new tower for downtown skyline
Plans revised to eliminate '17-minute shadow' on Nathan Phillips Square
Peter Kuitenbrouwer, National Post
Published: Thursday, June 22, 2006
Harry Stinson, the condo developer, says he has it all worked out. His proposed oval 80-storey Sapphire Tower, which city council rejected because it cast a shadow on Nathan Phillips Square, is now a 70-storey square tower with a sloped roof. By drawing the slope to match the average angle of the sun, he can almost completely eliminate that pesky shadow, he said.
"A 17-minute shadow for two months of the year, March and October, was their fetish," he said yesterday in his office in The Suites at One King West. "Councillors: They rant and they rave based on their marginal grasp of the facts."
Mr. Stinson said the city's planning department now tacitly supports the tower at Temperance Street and Sheppard Street. He hopes to bring it before council in September.
Even so, Mr. Stinson still has plenty to do at One King West, the old bank tower to which he added 30 floors of condos. When I stopped by yesterday on my walk up Yonge Street, I found crews erecting new scaffolding on the building. Turns out the terra cotta tiles are falling off.
Mr. Stinson said that construction crews paid by his partner, the impresario David Mirvish, neglected that job.
"All of their lawyers and sycophants and hangers-on siphoned off all the money," he said. "The key was to cut corners."
I love Harry Stinson. No matter when you bump into him, he's instantly airborne, sounding off at a mile a minute, expounding his great ambitions for building Toronto ever higher. In his office at One King West, he has a desk at counter-top height, because he never sits down. Rebecca, his daughter, has decorated its base with her drawings of a hot dog, a heart, a house and two butterflies.
Rebecca, Mr. Stinson and his partner, Linda Pannin, live right here, at King and Yonge streets. He says they are the cutting edge of a new trend in Toronto.
"There are an enormous number of people trying to live in the core," he said. "I don't want the hassle of sitting on the Don Valley. And it doesn't seem any safer in the suburbs."
Every morning, one of her parents takes Rebecca down to the ferry terminal at the foot of Bay Street and she, with several hundred other children, boards the 8:27 to Centre Island; on the other end a bus picks her up to take her to the Island School.
So now the Sapphire Tower, rather than a hotel and suites, will boast two-storey, three-bedroom homes, he said.
"There's no stats to show there's a market for this," he said. "I think there is."
Leaving King Street, I walked up to City Hall, where I bumped into Bruce Scott, from the office of Mayor David Miller. I told him Harry had it all worked out.
"Has he dealt with the plan to put parking on the first 14 floors of the building?" Mr. Scott asked. "Because that was the other issue."
I guess we'll wait to see the plans.
It was another beautiful day in the big city. Nathan Phillips Square bustled with crowds thronging the Wednesday Farmers' Market. Lorie Thiessen of Thiessen Farms, in Jordan Station, was doing a booming business in banana mint, golden sage, lovage and silver thyme plants, among others, $2.50 each or three for $7. The label on the spearmint warned, "Can be invasive!" I have some spearmint in my vegetable patch; Ms. Thiessen said I better dig it out.
That's the value-added of farmers' markets: you get to talk to people who actually grow stuff and know about produce and plants. Thiessen Farms now even supplies produce to the Law Society of Upper Canada.
"They fed me lunch," she enthused. "They just kept bringing course after course."
Ahh, yes. Those barristers and solicitors know which side of the bread the butter's on.
From there I headed west on Queen Street, swung down to King Street and bumped into Chris Mathers, the former Mountie who now has a booming business as a private dick. Lucky I wore a jacket yesterday; Mr. Mathers sported Cole Haan alligator shoes, tailored pants and jacket, and a striped shirt with French cuffs ("I always get an extra set of cuffs made, don't you?" he said). Aquarius Menswear makes his clothing.
"You can say that I'm looking for trouble, taking names and kicking ass," he said.
Hey! I thought that was my job!
AoD
E
elook
Guest
Re: Post on Harry + Sapphire
Nice sales job there Harry - really gives some insights to potential investors both in One King and Sapphire.
Nice sales job there Harry - really gives some insights to potential investors both in One King and Sapphire.
S
Sir Novelty Fashion
Guest
Re: Post on Harry + Sapphire
But it's true. PR notwithstanding, the man is a delight to speak with.
But it's true. PR notwithstanding, the man is a delight to speak with.
B
Bogtrotter
Guest
Re: Post on Harry + Sapphire
"A 17-minute shadow for two months of the year, March and October, was their fetish," [Harry] said yesterday in his office in The Suites at One King West. "Councillors: They rant and they rave based on their marginal grasp of the facts."
Harry is my hero.
"A 17-minute shadow for two months of the year, March and October, was their fetish," [Harry] said yesterday in his office in The Suites at One King West. "Councillors: They rant and they rave based on their marginal grasp of the facts."
Harry is my hero.
D
DaninToronto2
Guest
Re: Post on Harry + Sapphire
Heard about this on 680 news this morning. Despite his moments of unprofessionalism, I hear more about him and his projects than any other I think. It would seem the media loves him.
Heard about this on 680 news this morning. Despite his moments of unprofessionalism, I hear more about him and his projects than any other I think. It would seem the media loves him.
S
Suicidal Gingerbread Man
Guest
Re: Post on Harry + Sapphire
Yeah. I bet the Councilors can't wait to see him again, now.
Yeah. I bet the Councilors can't wait to see him again, now.
T
tudararms
Guest
Re: Post on Harry + Sapphire
The media loves him because he's colourful and ambitious, words that are not "usually" associated with Torontonians. He thinks big too which I think is great.
The media loves him because he's colourful and ambitious, words that are not "usually" associated with Torontonians. He thinks big too which I think is great.
E
EnviroTO
Guest
Re: Post on Harry + Sapphire
Full marks on that statement.
Full marks on that statement.
T
thx1038
Guest
the NEW Sapphire... this just in.
Sapphire Tower Update, summer 2006
A week and a half ago, we filed general building design plans with the City Planning Department. These drawings provided basic layouts for all the levels of the building, although not the specific interior designs for each suite (which are not required for the preliminary site plan review). The planners had specifically requested that we provide these basic outlines by early July in order to be reviewed in time for the September Community Council meeting. After rushing to do so, we arrived at City Hall with the plans and were informed that the submission was now considered a ‘new application?and thus a new application fee of $180,000 - was required (yes, that’s right, one hundred and eighty thousand dollars, which of course had dramatically risen since the time we had made the original application). Obviously we questioned the validity of this fee, as the planners and councilor had previously indicated that we were operating within the old application. The matter was referred to the City legal department, although we were advised that if we wanted to be sure to be on the September agenda we probably should just pay the fee (. ‘cuz, gosh, they might just not have time to review the file, if you catch my drift).
After some strategic inquiries and discussions at various levels, the Planning Director decided that indeed the old application file was still active, and the new fee would be unnecessary. What’s more, we were told that the plans would NOT have to go to Community Council in September but could go directly to City Council (likely early next year after a full circulation through all the various City departments. My instinct is that an internal political and senior Planning Department judgment call was made. As we all know, the last time Sapphire Tower went before a political meeting, there was very extensive media coverage of the ?7 minute shadow crisis? When the Four Seasons condo-hotel tower was subsequently approved (which cast a much larger and longer shadow) the media plus many citizens groups and even some councilors questioned why the Sapphire height increase was rejected but the Four Seasons tower was approved on the bass of a $2,000,000 “contribution?to upgrading the neighbouring schoolyard. I suspect that given the upcoming election it was felt that the Sapphire Tower should probably stay out of the potential political spotlight. (Welcome to the development biz, folks).
Just in case, we requested a further meeting (last week) with the actual planners who are handling the application from this point forward. We said to them specifically that it was our intent to proceed immediately with detailed working drawings and to renew public marketing of the project in September of this year. Full working drawings are complex, hard to change, involve many consultants, and cost a substantial amount of money to prepare. And once we start advertising and open a sales office, inevitably there will be questions maybe even media calls about the status of the project. Thus we wanted to confirm that indeed City Hall both the planners and the Councilor were comfortable with the modified design, and that when the file finally goes to City Council, that it would receive their support.
We were told to go ahead.
The first interior plans to be finalized are the smaller suites at the upper levels. We are doing this because our first priority is to confirm how many of the original purchasers wish to stay involved in the project and retain a suite in the building.
To assist you in making this decision, it is important to clarify a number of aspects about the ongoing project.
1) As noted in previous newsletters, the focus of the revised building will be large (2 to 4 bedroom) residences, likely priced from $500,000 to $1,500,000. This is because we perceive a major shift in both the supply and demand forces of the Toronto condo market. In my opinion, there are now too many “condo-hotel?projects on the market, some of them sponsored by major name brands (and thus very serious competitors) and others sponsored by local independents keen to hop on the “boutique hotel bandwagon?(and in many cases offering unrealistically lower prices and over-optimistic returns).
2) When we launched 1 King West, and subsequently Sapphire Tower (originally as Downtown Plaza) the projects were treated simply as residential condominiums. Retroactively, the Ontario Securities Commission decided that the rental programs we designed constituted security offerings. The OSC imposed new guidelines for the sales documentation, ongoing reporting requirements, and restrictions on income projections. While we anticipate offering leasing services for suites in Sapphire Tower, we are precluded from offering any income ‘guarantees?or representations as part of the sales process.
3) Having said that, the new Sapphire Tower design format may well represent an even better real estate investment. With the emphasis on elegant multi-bedroom residences, many with seven-figure price tags, the Sapphire Tower will be clearly positioned ‘up-market? It would also be considered unusual to locate the smaller suites on the higher floors (one would expect the big-ticket penthouses up top and the lower priced suites down below). To be honest, if we were starting from scratch, that’s exactly what I would do. But the original purchasers have been very patient, so it seemed only fair to offer them the premium position. Similar to owning a small house in a first class (Rosedale-like) neighbourhood, inevitably the values of the small suites will be enormously enhanced. You will also note that the designs and sizes of the suites have been improved, with less per floor.
Several months ago, we entered into discussions with a potential major investor/joint venture partner. Although I am extremely hesitant about partnerships, there were reasons why we felt that the specific group deserved consideration. We did not come to an agreement largely for reasons related to their unfamiliarity with the Toronto market (the group is not locally based).
Personally, I cannot say that I was disappointed (actually, I was more relieved).
As you know, I am passionately committed to creating distinctive buildings. In my experience, becoming involved with a single major investor usually means that the spirit of the project gets smothered by armies of “suits? who drain vast amounts of money and time and energy out of the original vision while putting on a big show of “protecting?their wealthy patron.
Individual investors, on the other hand, usually “get it?
Thus we are proceeding with the project on the basis of an expanded mortgage syndication, similar to the programs offered before.
The return will be 18%, with interest accruing. This means that your original investment will double in value during the 4 year term.
Yes indeed, this is a business investment with certain risks involved, which are outlined in the documentation available (through Stinson Financial).
In fact, by applying the interest to a price reduction in a suite purchase, there may be tax advantages through converting the interest to a capital gain, which is realized only when the suite is sold.
In September we will be opening the new sales office at 5 King St. West. Prior to that time, we will make available the unit plans for your consideration.
Thank you for your support.
Harry Stinson
Sapphire Tower Update, summer 2006
A week and a half ago, we filed general building design plans with the City Planning Department. These drawings provided basic layouts for all the levels of the building, although not the specific interior designs for each suite (which are not required for the preliminary site plan review). The planners had specifically requested that we provide these basic outlines by early July in order to be reviewed in time for the September Community Council meeting. After rushing to do so, we arrived at City Hall with the plans and were informed that the submission was now considered a ‘new application?and thus a new application fee of $180,000 - was required (yes, that’s right, one hundred and eighty thousand dollars, which of course had dramatically risen since the time we had made the original application). Obviously we questioned the validity of this fee, as the planners and councilor had previously indicated that we were operating within the old application. The matter was referred to the City legal department, although we were advised that if we wanted to be sure to be on the September agenda we probably should just pay the fee (. ‘cuz, gosh, they might just not have time to review the file, if you catch my drift).
After some strategic inquiries and discussions at various levels, the Planning Director decided that indeed the old application file was still active, and the new fee would be unnecessary. What’s more, we were told that the plans would NOT have to go to Community Council in September but could go directly to City Council (likely early next year after a full circulation through all the various City departments. My instinct is that an internal political and senior Planning Department judgment call was made. As we all know, the last time Sapphire Tower went before a political meeting, there was very extensive media coverage of the ?7 minute shadow crisis? When the Four Seasons condo-hotel tower was subsequently approved (which cast a much larger and longer shadow) the media plus many citizens groups and even some councilors questioned why the Sapphire height increase was rejected but the Four Seasons tower was approved on the bass of a $2,000,000 “contribution?to upgrading the neighbouring schoolyard. I suspect that given the upcoming election it was felt that the Sapphire Tower should probably stay out of the potential political spotlight. (Welcome to the development biz, folks).
Just in case, we requested a further meeting (last week) with the actual planners who are handling the application from this point forward. We said to them specifically that it was our intent to proceed immediately with detailed working drawings and to renew public marketing of the project in September of this year. Full working drawings are complex, hard to change, involve many consultants, and cost a substantial amount of money to prepare. And once we start advertising and open a sales office, inevitably there will be questions maybe even media calls about the status of the project. Thus we wanted to confirm that indeed City Hall both the planners and the Councilor were comfortable with the modified design, and that when the file finally goes to City Council, that it would receive their support.
We were told to go ahead.
The first interior plans to be finalized are the smaller suites at the upper levels. We are doing this because our first priority is to confirm how many of the original purchasers wish to stay involved in the project and retain a suite in the building.
To assist you in making this decision, it is important to clarify a number of aspects about the ongoing project.
1) As noted in previous newsletters, the focus of the revised building will be large (2 to 4 bedroom) residences, likely priced from $500,000 to $1,500,000. This is because we perceive a major shift in both the supply and demand forces of the Toronto condo market. In my opinion, there are now too many “condo-hotel?projects on the market, some of them sponsored by major name brands (and thus very serious competitors) and others sponsored by local independents keen to hop on the “boutique hotel bandwagon?(and in many cases offering unrealistically lower prices and over-optimistic returns).
2) When we launched 1 King West, and subsequently Sapphire Tower (originally as Downtown Plaza) the projects were treated simply as residential condominiums. Retroactively, the Ontario Securities Commission decided that the rental programs we designed constituted security offerings. The OSC imposed new guidelines for the sales documentation, ongoing reporting requirements, and restrictions on income projections. While we anticipate offering leasing services for suites in Sapphire Tower, we are precluded from offering any income ‘guarantees?or representations as part of the sales process.
3) Having said that, the new Sapphire Tower design format may well represent an even better real estate investment. With the emphasis on elegant multi-bedroom residences, many with seven-figure price tags, the Sapphire Tower will be clearly positioned ‘up-market? It would also be considered unusual to locate the smaller suites on the higher floors (one would expect the big-ticket penthouses up top and the lower priced suites down below). To be honest, if we were starting from scratch, that’s exactly what I would do. But the original purchasers have been very patient, so it seemed only fair to offer them the premium position. Similar to owning a small house in a first class (Rosedale-like) neighbourhood, inevitably the values of the small suites will be enormously enhanced. You will also note that the designs and sizes of the suites have been improved, with less per floor.
Several months ago, we entered into discussions with a potential major investor/joint venture partner. Although I am extremely hesitant about partnerships, there were reasons why we felt that the specific group deserved consideration. We did not come to an agreement largely for reasons related to their unfamiliarity with the Toronto market (the group is not locally based).
Personally, I cannot say that I was disappointed (actually, I was more relieved).
As you know, I am passionately committed to creating distinctive buildings. In my experience, becoming involved with a single major investor usually means that the spirit of the project gets smothered by armies of “suits? who drain vast amounts of money and time and energy out of the original vision while putting on a big show of “protecting?their wealthy patron.
Individual investors, on the other hand, usually “get it?
Thus we are proceeding with the project on the basis of an expanded mortgage syndication, similar to the programs offered before.
The return will be 18%, with interest accruing. This means that your original investment will double in value during the 4 year term.
Yes indeed, this is a business investment with certain risks involved, which are outlined in the documentation available (through Stinson Financial).
In fact, by applying the interest to a price reduction in a suite purchase, there may be tax advantages through converting the interest to a capital gain, which is realized only when the suite is sold.
In September we will be opening the new sales office at 5 King St. West. Prior to that time, we will make available the unit plans for your consideration.
Thank you for your support.
Harry Stinson
- Status