Toronto 55 Yonge | 232.86m | 68s | H&R REIT | PARTISANS

[carrythezero]

From the latest H&R REIT investor update:

 

[innsertnamehere]

This one has been brewing for years. Good to see it public. Look forward to reviewing the plans that were submitted.

 

[Toronto1834]

They say they have already submitted a rezoning in January but the City's website shows no record of it.

 

[DSC]

They say they have already submitted a rezoning in January but the City's website shows no record of it.

I understand that there are 'ongoing discussions' with the City on this so 'something' is going on.

 

[condovo]

This proposal may complicate CC3, which isn't a bad thing IMO.

 

[ushahid]

they also proposed a proposal at 310 Front. how serious are they? is it just a flipping exercise?

 

[Northern Light]

This is the site as it is today:

* note, I got napping, and first photo I posted was incorrect.

 

[Automation Gallery]

This proposal may complicate CC3, which isn't a bad thing IMO.

Ugh why? it's on the other side (east/Yonge} of the street

 

[smably]

Looks Zaha-esque.

 

[AlexBozikovic]

The existing building is a Peter Dickinson. The new one… I can’t name the architects, but it’s real.

 

[cd concept]

What is going on in this city two new huge proposals today. And two other at 80 & 82 Bloor st towers consolidating to a height of maybe at supertall status . Wow !! By the way this tower is gorgeous with its unique looking facade for this city . And will complement the two old Victorian buildings next it.

 

[DavidCapizzano]

shot in the dark but my guess is partisans but maybe it's someone international

 

[Northern Light]

The existing building is a Peter Dickinson. The new one… I can’t name the architects, but it’s real.

The renders available are insufficient to judge the proposal in my mind.

***

I must confess though, I've never been a fan of Dickinson's work. I find it very utilitarian.

Some will pitch clean lines, and the spare ethos. So be it, taste is personal.

But I can't say I'd miss many of his works.

I probably like Benevuto best among his well known works.

But I still don't consider it irreplaceable by any means.

His material palate was always very basic.

I don't particularly like frou-frou in my architecture.............but his was always a bit too spare for me, and rather boxy.

 

[Ac1515]

shot in the dark but my guess is partisans but maybe its someone international

I agree. Think that’s a good guess... that would be epic... can you imagine?!

 

[rbt]

they also proposed a proposal at 310 Front. how serious are they? is it just a flipping exercise?

A quick glance at their Q2 finances (Q3 for some reason is a broken link) and most of it looks reasonable (cash on hand, debt, lower rates for new mortgages, etc.). 2020 hasn't been good for Net Income; which they offset by devaluing their properties by ~10%.

So, it could go either way. Cash from sale might be useful, but they also have capacity to fund construction of a couple large projects. If they feel work-from-home is going to stick, then expanding their residential portfolio would help offset that, and this being flagged as rental (rather than condos) is a strong indicator they intend to keep it.