Toronto 1233 Yonge Street | 172.4m | 53s | 1233Y Development LP | Arcadis

This property sold to Plaza in March 2023 for 30 million, as I think Firm Capital sold their interest it its entirety.
Mods can update the developer to Plaza.

Source: Altus Data Studio
 
UrbanAffair said:
This property sold to Plaza in March 2023 for 30 million, as I think Firm Capital sold their interest it its entirety.
Mods can update the developer to Plaza.

Source: Altus Data Studio
Click to expand...

The price here clearly indicates (to me) they do not feel they will get the height/unit ask in the most recent iteration.

That price would be way too low per unit.
 
UrbanAffair said:
This property sold to Plaza in March 2023 for 30 million, as I think Firm Capital sold their interest it its entirety.
Mods can update the developer to Plaza.

Source: Altus Data Studio
Click to expand...
Plaza was involved in the original application. They sold their interest in the property and are no longer involved.
 
Correct, as @Kenojuak laid out earlier this year:
Kenojuak said:
I don't even mind the height. But if you're going to shoot for the stars on height (and if successful deliver an extraordinary financial return), then at least make some effort on design, public realm, and lower potions of the building that will be experienced by pedestrians, especially the ground floor. It's just such sloppy work. Again, it's not the height that gets me. It's the lazy design at the bottom and zero effort to improve the public realm or enlarge it even slightly.

1233 Yonge and 9 Woodlawn Ave. E. (both part of the development site) were purchased together on March 28, 2023, for $30,000,000 by 1233 Yonge Holdings Inc.

A tidy profit for Plazacorp and Firm Capital who had bought the parcels together on February 5, 2020 for $17,500,000 as Woodlawn Residences Corp.
Click to expand...
 
I see. Altus was suggesting that the true purchaser was Plaza via 1233 Yonge Holdings Inc., so I thought it might have been an interest sale to them.

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I have some news...........

52s + MPH

Still Arcadis

@Paclo ; @3Dementia

Renders:

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From the Cover Letter:
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From the Planning Report:

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****

Quick comments:

Much improved; but that floor plate is still on the bloated side at 949m2; I'd like to see a substantial public benefit for saying yes to that.

@HousingNowTO shall be dispatched.

Also, the all-glazed ground level is just a hard no for me. Clearly the staff @arcadis need to pay more attention to UT commentary on this point.

6 elevators to 723 units is not horrific, but not ideal.

***

Up to date AIC link for convenience:

www.toronto.ca

Application Details

www.toronto.ca www.toronto.ca
 
Really sloppy rendering work showing this section of Yonge Street as flat when it is fairly steeply sloped. An obvious land value extraction plan and not a serious development yet. Much as I would love to see 950 m2 floor plates across the City, this will likely not get a Staff recommendation and so this file stumbles slowly to an appeal. Too bad, this neighbourhood has the services, parkland and transit to absorb more housing, but it's gotta be better than this schlock.
 
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