Toronto 808 Mt Pleasant | 204.55m | 61s | Reserve Properties | Sweeny &Co

[jmi22]

Do you not feel the new as-of-right midrise zoning on large chunks of 'the avenues' will be advantageous in that regard?

If not.........where do you see the challenge?

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The argument in favour of midrise (personal preferences aside) is lower risk profile, easier to finance, and get in and out quicker.

This may play out in this manner, but the crucial detail here is *new*. If these as of right permissions had been granted two decades ago when the midrise policy was really coming into light it may have been more successful. But imo the the point of no return in terms of height precedent and public acceptance of towers has been long passed, and as such I would not be shocked if a great deal of these as of right midrise sites still see developers pushing for high-rises.

 

[The Preservationist]

They're just as difficult to zone, are often harder to build, and earn far less return. Why bother when you can just go tall?

Exactly, I do have some understanding of the economics. My son was in the business (not the owner) of single unit tear downs and rebuilds but has recently moved on. Had a reasonably good run with it, so I would think multiple single units to mid rises must be more profitable, at of course a bigger scale of investment. It seems to me the issue is primarily a question of city zoning.

 

[Koops65]

 

[HeartoftheTempest]

Do you not feel the new as-of-right midrise zoning on large chunks of 'the avenues' will be advantageous in that regard?

If not.........where do you see the challenge?

It certainly helps with approvals timing, but the land cost for the assembly makes the math difficult to pencil out favourably for those newly granted as-of-right heights. Any builder taking the risk to go down that road will likely still push for site-specific approval of a 'tall mid-rise' around 11-12 storeys to make the project viable.

It was a positive move to show the general change in City Planning philosophy, but it didn't unlock a whole lot or move the needle all that much IMO.