Toronto 300 Front Street West | 156.05m | 49s | Tridel | Wallman Architects

Mike in TO said:
The GTA new homes price index for high-rise units hit $382,604 in June 2008. Generally the last four years we've had 8%-10% price increases yr/yr, but this past year we've been approaching 20% (7% in the first 6 months of 2008 alone) - overall it's a 50% increase in the last 4 1/2 years. The increases in the downtown core have usually been higher then the GTA average.

There are many reasons for this - general supply & demand (although the high-rise remaining inventory hit a record high of about 17,000 units recently). The main culprit for the increases in high-rise prices has been land availability and the rising cost of land - especially in the city core - there just aren't as many prime lots available for development and costs are rising. Even out in the 905 low-rise lot prices have risen significantly the last few years due in part to industry consolidation and government policies restricting land use (i.e. the greenbelt, places to grow, changes to the OMB that limit appeals with respect to urban boundary expansions and other land takings from other public agencies).

Other costs which are getting passed onto consumers are increasing costs of obtaining capital (credit crisis – situation should hopefully improve in coming months), rising construction and material costs, labour costs (that may start to come down as the market slows) and increasing approval delays (time is money & uncertainty increases risks & therefore costs for development proponents), as well as increasing taxes/fees (i.e. land transfer tax, rapidly increasing development charges, increasing section 37 requirements, increasing site plan approval requirements… etc) and other regulatory issues (i.e. mandatory residential sprinklers in high-rises starting in Sept 2009, Toronto green building standards, changes to the OBC… etc).
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Who cares about costs? As profit-maximizing, rational actors, developers charge the most they think the market will bear regardless of their costs. I think it should be obvious to anyone that these prices are starting to get beyond what buyers can afford. What it costs to buy property in other cities is irrelevant for the people who live and work in Toronto. What is important? How much people make, and what kind of financing they can get. Incomes have been stagnant for years, and riskier types of financing are drying up. It seems obvious that it's not going to be ordinary buyers sustaining this market, because they simply can't afford these prices.

This project in particular is a good example of how ridiculous things have gotten because of how expensive it is, the apartment layouts, and the location. No offense to anyone who lives around there, but your typical 'luxury' condo buyer would little reason to buy a place here, and even if they would be crazy to spend $450,000 on an 800 square foot condo with undersized bedrooms and no proper dining room. The resale market offers much better selection and price.
 
androiduk said:
So why are these big builders putting up all these 30 or 40 storey buildings all over the city, wouldn't they be farther ahead to concentrate on a few 60 or 70 storey ones?
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City height restrictions as per the official plan, plus the cost associated with building above ~40-50 storeys (elevators become a lot more complicated, etc).
 
The developers are making quite a bit of money, thank you. Particularly when they get greedy.
 
DarnDirtyApe said:
This project in particular is a good example of how ridiculous things have gotten because of how expensive it is, the apartment layouts, and the location. No offense to anyone who lives around there, but your typical 'luxury' condo buyer would little reason to buy a place here, and even if they would be crazy to spend $450,000 on an 800 square foot condo with undersized bedrooms and no proper dining room. The resale market offers much better selection and price.
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I agree... I think 300 is over rated... ICE is a better project by far
 
CGM said:
I agree... I think 300 is over rated... ICE is a better project by far
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ice looks a bit nicer on the outside, sure. but at the end of the day, you're paying more money and walking outside to a barren and lifeless area.

at ice you're in BETWEEN a lot of places.. the gardiner and the railway tracks, the skydome and the acc, the cbd and the harbourfront..... but in reality, you're in the middle of nowhere.

ice may be a better project to look at, but i dont think its a nicer project to live in.
 
gei said:
ice looks a bit nicer on the outside, sure. but at the end of the day, you're paying more money and walking outside to a barren and lifeless area.

at ice you're in BETWEEN a lot of places.. the gardiner and the railway tracks, the skydome and the acc, the cbd and the harbourfront..... but in reality, you're in the middle of nowhere.

ice may be a better project to look at, but i dont think its a nicer project to live in.
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Not outside. The PATH. Cold is not good. Wet is not good. Walking outside is okay on a sunny day.
 
gei said:
ice looks a bit nicer on the outside, sure. but at the end of the day, you're paying more money and walking outside to a barren and lifeless area.
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Not when 18 York, Telus, and MLS are completed... There will tons of life in those buildings and it's a 2 minute walk to HarbourFront Centre ... Virtually direct access to Gardner and PATH (TTC/GO) make it much more commuter friendly
 
gei said:
ice looks a bit nicer on the outside, sure. but at the end of the day, you're paying more money and walking outside to a barren and lifeless area.

at ice you're in BETWEEN a lot of places.. the gardiner and the railway tracks, the skydome and the acc, the cbd and the harbourfront..... but in reality, you're in the middle of nowhere.

ice may be a better project to look at, but i dont think its a nicer project to live in.
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Maybe right now. But really even now that's not true. Everything is within a 10 minute walk really.
And in the future, with the harbourfront complete, this project is going to be an amazing place to live.
 
gei said:
ice looks a bit nicer on the outside, sure. but at the end of the day, you're paying more money and walking outside to a barren and lifeless area.

at ice you're in BETWEEN a lot of places.. the gardiner and the railway tracks, the skydome and the acc, the cbd and the harbourfront..... but in reality, you're in the middle of nowhere.

ice may be a better project to look at, but i dont think its a nicer project to live in.
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That's the great thing about condos in places like this; they're relatively quiet when you're trying to sleep (if you like that sleeping nonsense), and although there may not be anything terribly exciting right outside your door, you don't have to go far to find something.
 
nope not me haha ... figured it was sorta shown already previously ...

do any of the below count?? :)

wow it has been a WHOLE MONTH since the last post ... its getting quiet in here !

CGM said:
2753854520_6734115b25_o.jpg


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Tridelwebmaster said:
Here's a photo of the scale model showing the top of the roof of the lofts looking down to the parkette.

scale_model_loft_roof.jpg
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Solaris said:
snapped from outside Tridel Store on College last night

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