urbandreamer
recession proof
Given the hot rental market and Minto's history in that biz, a luxury rental building here would make sense.
Toronto 2 St Thomas | 80.46m | 26s | KingSett Capital | Hariri Pontarini
cdr108
Senior Member
Minto already has a rental at Bay/Bloor.
I wonder how the residents of 77 Charles and 1 ST would feel having a rental building (albeit luxury) across the street from them ... LOL
urbandreamer
recession proof
Lotsa high end rental buildings next door to high end condo buildings in Manhattan, so why not here? I would argue luxury rental dwellers have more money than the condo owners. Besides, how many 77 Charles and 1 ST condos are rented out?
ChesterCopperpot
Senior Member
wouldn't surprise me in the slightest
metroTO
Active Member
Even with a hot rental market, it would take much longer for a developer to make their profit and it's harder to get a construction loan for it.
That is where investors come in, though I'm not sure if larger higher-end condos end up being rented out than flipped like small 1-bedroom units typically do.
buildup
Senior Member
If they did, they should consider moving the tower North, and the lower element South. This would give their residents better view lines and spacing from 77 Charles & 1 Saint Thomas. The congestion right now affects views and marketability.
Xray_Crystal_Junkie
Senior Member
Loved the materials on the original, hope they don't deviate too much from that. Once this is done that would be quite the "posh" little corner.
AlbertC
Superstar
androiduk
Senior Member
Would like to see a boutique hotel/condo mix here.
Ramako
Moderator
Bad news. Just a background on Kingsett Capital, they were Canderel's joint venture partner on Aura. Let's hope that Canderel doesn't get involved and build more cheap architecture.
ChesterCopperpot
Senior Member
HP are still involved to the best of my knowledge
Kingsett were also behind 155 Cumberland/130 Bloor, so that's pretty good.
42
42
milanista
Active Member
Wow, this site is cursed.
SP!RE
°°°°°°
And we lost a beautiful old apartment building for this.
milanista
Active Member
So true. That was a great building, I hope the one at St. Thomas & Sultan never goes.
Remembering my U of T days (not all that long ago, graduated in 2009)...this little area looks quite different.