Toronto 954 Broadview (Estonian House Redevelopment) | 50.5m | 14s | Diamond Kilmer | Graziani + Corazza

The hood is abuzz. The deal with Tribute has fallen through. Now there's another developer, with another highrise project to be proposed, about to be brought into the picture.
 
Ex-Montreal Girl said:
It's Alterra now.
Click to expand...

And now it's not.

http://www.eestielu.com/en/events/2...78-estonian-house-announcement-october-201611

"The Estonian House Board regrets to announce that our partnership with Alterra Developments to build a new home for the Estonian Community at 958 Broadview has ended.

"In the spring, Alterra and the Board signed an Agreement for Purchase and Sale that was to be the contractual backbone of our relationship through the entire redevelopment of our property. We always recognized that there were a number of risks throughout the project timelines, and a number of decision points at which the project could fail."
Click to expand...
 
Plenty of tõusud ja mõõnad with this one!

42
 
I don't imagine the heritage designation was the issue. Any sophisticated developer would have known that was coming before they ever signed a conditional agreement of purchase and sale.
 
As usual, I defer to your expertise Skeezix. However, Planning put a lot of bumps in the road, including the Broadview Avenue study. The heritage vote was likely the last straw.

That said, there were so many other obstacles, including the outlandish attempt to put a highrise on what I believe to be fairly sandy soil on a postage stamp-sized lot right over the busiest entrance-exit ramp on the DVP. That could not have helped. I will never accept the fact that the Pottery Road closure in 2010-2011 had absolutely nothing to do with the Minto Skyy.

Then there is the Toronto Regional Conservation Authority, the moves to protect ravines and to create the Don River Valley Park, Todmorden Mills ...
 
Sure. All those factors affect the developer's pro-forma. There are few large developments in this city that don't have various bumps in the road. But none of those factors would have come as surprises here. Particularly the heritage designation. The Broadview Avenue study maybe, although if the study represented good politics more than good planning, the developer would likely have liked its chances at the Board.

What I think happened is that this was a challenging site, for all the reasons you describe, and Estonian House wasn't happy with what it was getting in return, and figured it could reach a better deal with someone else, particularly if it can incorporate the abutting lands into any arrangement. But I doubt heritage was the trigger.
 
Again, I defer to your expertise. Anyway I don't know that much about it but I am glad it isn't a go ... for now. The last thing we need is a wall of highrises -- although there are already plenty of them -- overlooking the valley from Broadview. I do feel that the density of the area could be improved. I am keeping my eye on that former car dealership-turned-some-kind-of-church and now an empty lot though. I envision luxury towns or lowrises in there.

I bet any town would command close to $2M and a 1400 sf condo not much less. Location, location, location.

In Montreal, there's a 1980s development called Le Sanctuaire which would be a perfect plan for that lot. Best health club in the city underneath (open to the public who can afford it) and solid spacious suites. Basically, four midrise pyramids around a central parkette. (Not quite accurate but good enough.) If you look it up, you will see much lower prices relative to what those condos would get in Toronto. So don't let that fool you.
 
The car dealership turned mormon church has seemingly been purchased by a company affiliated with/part of Sobeys. I would expect both the existing Sobeys and the former church property to be redeveloped. Will be very interesting what is proposed.
 
The cycle of life. That car dealership used to be located on the Danforth, and it was replaced there by, among other things, a grocery store - its old site is now Carrot Common. It moved to Broadview, and that site is likely to be eventually replaced by a multi-use development which includes, among other things, a grocery store.
 
Ex-Montreal Girl said:
It should. Last month, Toronto and East York Community Council voted unanimously to adopt Planning’s recommendations to designate Chester Public School as a heritage property. I expect that that killed any highrise development plans. Although the OMB could step in, it just doesn't seem worth the fight.
Click to expand...


Heritage designation to protect the entire original building or just the original front face?

If Heritage designation protects entire original building, then developer either build around it which would be difficult or move the original school house at great expense.

If Heritage designation just protects the front face, then the rest of the original structure can be demolished but front face must remain untouched in original condition. We've seen this happen at many downtown projects, both completed and in-progress. Here original front face might have been back of new lobby area. Anyways, due to the setback of the original front face, it would have been difficult building a large underground parking facility while the front face remains,... thus limiting the size of the final structure since you generally need about 1 parking space per unit.

Again, due to setback of the original front face, developer might have been forced to design further from Broadview and closer to the ridge,... given rules about respecting transition with slope of valley at ridge, that would limit height and size as well. Which in turn limit their profits.

Anyways, it's not like landowner lost out due to Heritage designation,.... now they get saving on their property tax.

With Heritage designation, landowner should be forced to restore original structure especially the watch tower.
 
jimha said:
The car dealership turned mormon church has seemingly been purchased by a company affiliated with/part of Sobeys. I would expect both the existing Sobeys and the former church property to be redeveloped. Will be very interesting what is proposed.
Click to expand...

Hmm. Interesting. I know that the Sobeys folks (as well as the proprietor of Whistler's pub next door; he also owns the houses adjacent) had an interest in the Estonian House redevelopment proposal. I assumed Sobeys was looking to build a highrise in its current location perhaps with a Sobey's in the podium. Perhaps the real plan was to sell off the current location along with the Whistlers guy and have that developed as one building while the former car dealership up the street would be a much bigger Sobeys in the podium with a much bigger building? All I know is, that lot is screaming for major investment. But, given the single family, two-level homes all around and the Broadview study, all this might be in the air. (Pun intended.)
 
You must log in or register to post here.

Back
Top