Toronto 1256 Markham Road | 95.15m | 29s | Nahid Corporation | Wayne Long

WislaHD said:
Some googling on the site turned out these documents relating to the court-ordered sell:
There is involvement of Nahid Corp in the above.
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In looking at the settlement of the matter, it seems depositors will not be able to recover their full deposits.

Perhaps I'm mistaken, but I had thought deposits had to be held in escrow and could not be touched.

Presuming that 'life leases' are structured the same way as condo sales.

The usual damage done, to my recollection, in other cases, is the return of deposits after several years with prices having climbed substantially; but I don't recall an absolute loss on deposits.

If I'm reading this correctly, some of that money was expended on pre-construction development costs which certainly does not seem reasonable to me.
 
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A new Site Plan Application was submitted on December 7, 2023. The owners are only going ahead with phase 1 for now; architect is now Wayne Long Architect:

www.toronto.ca

Application Details

www.toronto.ca www.toronto.ca

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Adjacent to Centennial College and I believe a subway station. Soon SCC and this area will merge into one cluster of high rises.
 
HousingNowTO said:
Anything in the SPA about ownership, tenure-type (eg. Seniors housing life-lease was the old model), and if they are still expecting to participate in the City of Toronto OPEN DOOR program..?
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The submission is very odd; The Cover Letter is unsigned and not on letterhead. Don't think I've ever seen that.

The Arch Plans document that's labelled as such doesn't contain any building stats.

There is a 'linked document' which appears to be the missing items from arch file, but alternately refers to building as both 29s and 11s.....

Parking is very high here. 418 units for 'phase 1' Parking is 381 spaces for a 0.91 parking ratio.

The tenure is referenced explicitly as condo in one set of docs; but in the Project Data Sheet the units are explicitly checked as Rental. LOL

Some seriously sloppy paperwork here.

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Its 29s, right?

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These docs are all showing as Nov' 23

@ProjectEnd will like that there are only 3 elevators for a ratio of 0.72 elevators per 100 units. (alternately 1 elevator per 139 units) Edit - there are 2 podium only elevators, as noted by @interchange42

@HousingNowTO I can't see any references to 'Open Door' or 'Affordable Housing' anywhere, but I might have missed them given the disorganization of the docs.
 
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The database has been updated to reflect the phase 1 submission of the SPA: 29-storeys, 418 condo units. Developer is Nahid.
 
Northern Light said:
@ProjectEnd will like that there are only 3 elevators for a ratio of 0.72 elevators per 100 units. (alternately 1 elevator per 139 units)
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This building has 5 elevators, not 3. 2 of the elevators only go as high as the top floor of the podium through, but that would be a major vertical transport relief for everyone in the building nevertheless.

42
 
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