260 Adelaide West | 196.8m | 61s | CentreCourt | Sweeny &Co

[innsertnamehere]

Saw some core sampling happening in this lot on my way by today, and after googling, it is for sale.

I guess Cressy's park isn't going to be happening here then.

http://www.collierscanada.com/23174#.Wv19ve4vxpg

 

[interchange42]

Yup, after Rail Deck Park became a thing, Cressy couldn't plead for park-in-lieu funds to be handed over for both. I imagine that whomever is councillor down here next will be pushing for a little parkette on the site though, about 10% of the developable area: the area is park deficient and they likely won't want in-lieu funds, but an actual parkette.

42

 

[innsertnamehere]

10% would only be a ~3,000sf park.. not very big. Perhaps some other cash-in-lieu money could be used to bump it up a bit?

 

[interchange42]

They're not likely going to want to divert much in that area away from Rail Deck Park.

42

 

[Miscreant]

Great news--I've been waiting for this lot to go for most of my life (literally). I wonder though if the warehouse-style buildings on the corner will stay or go...

 

[ProjectEnd]

They are not included in the sale.

 

[Automation Gallery]

They are not included in the sale.

I'm sure whoever purchases this will attempt to buy those

 

[ProjectEnd]

It would depend on what value they add to the overall project. Even with those properties, you may not get 25m between two towers so unless they're reasonably priced, they wont't add much and may not be worth it.

 

[Automation Gallery]

It would depend on what value they add to the overall project. Even with those properties, you may not get 25m between two towers so unless they're reasonably priced, they wont't add much and may not be worth it.

Ugh? a intersection property would not add much and may not worth it to a tower development??
isn't it the corner warehouse we're talking about @ John street?

 

[Miscreant]

Yep, that's the one. I mean, that thing could be bulldozed in an afternoon. But the point does remain about what value it would add to this development.

 

[Automation Gallery]

what value it would add to this development.

A lot, just like a corner house that's next door to one sandwiched in

 

[ProjectEnd]

You've been on this site for 11 years, yet the degree to which you don't grasp the underlying concepts driving real estate development never ceases to amaze...

 

[Automation Gallery]

You've been on this site for 11 years, yet the degree to which you don't grasp the underlying concepts driving real estate development never ceases to amaze...

Hey, either way that corner property is is a priority to purchase for anyone that wants to develop 229 Richmond Ave.

 

[maestro]

It's not a priority. 229 Richmond is a large enough site for a tower and podium building. You can create a massive development site by buying the corner building, Jack Astors and the public lane but, it's going to cost you. The bigger the site, the more you borrow, the less you end up pocketing. I don't see the rationale in wasting years to consolidate these blocks together. I don't see it happening.

 

[innsertnamehere]

The City seems to be about to purchase this property for park, affordable housing, tpa, or other purposes. They also apparently already own a site on this block - any word what that is?

https://www.toronto.ca/legdocs/mmis/2019/ex/bgrd/backgroundfile-138690.pdf#xd_co_f=NjcuNjkuMjQ0LjIyLTIwODE1MDY3ODQuMzA1OTAwMjE=~