Toronto Aura at College Park | 271.87m | 78s | Canderel | Graziani + Corazza
Benito
Senior Member
Lots of lights out in the crown lighting strips.
WillTo
Senior Member
Benito
Senior Member
Good to know that there is someone on it, but every morning for over a year I have seen the same lights out on the north side that have never been fixed.
Ramako
Moderator
Pretty sure it's a parody account.
kotsy
Senior Member
Pretty sure? I think it's hilariously obvious that it is.
Midtown Urbanist
Superstar
I didn't know that Zavida closed up shop. Very sad news, as they had really good coffee.
416ForLife
Active Member
Aura's basement condo retailer system is a disaster. Is there anyone in there making any money? I considered investing in an Aura condo many years ago, but I had too many reservations about the site, builder, and area. How is it doing now?
DSC
Superstar
Member Bio
- Joined
- Jan 13, 2008
- Messages
- 19,802
- Reaction score
- 28,677
- Location
- St Lawrence Market Area
You will be hard pressed to find anyone here who will disagree with you. There are many posts detailing the failure of their retail part (and the flaws above it, esp. if one gets closer!). The retail could only, MAYBE, be improved if they made a proper link to College Park and even better linked to PATH going south but who will pay to do that? The developer is long gone, the retail mini-units are all sold off, the owners made a HUGE mistake. They should put a sign over the entrance "Abandon hope, all ye who enter here".
PEC
New Member
The attached flyer came through my email this morning. Wow - do I feel badly for anyone who purchased a retail condo here.
Based on the numbers that they're showing, for a 5% cap rate you would need to get rents of $22.00 net (which isn't that bad for downtown). BUT the taxes and maintenance fees work out to $30.00 psf.
So if a tenant is paying a reasonable 15% in gross rent, they would need to be generating sales of almost $360,000 from a unit with limited visibility and exposure.
Based on the numbers that they're showing, for a 5% cap rate you would need to get rents of $22.00 net (which isn't that bad for downtown). BUT the taxes and maintenance fees work out to $30.00 psf.
So if a tenant is paying a reasonable 15% in gross rent, they would need to be generating sales of almost $360,000 from a unit with limited visibility and exposure.
jiec
New Member
The whole podium is screaming for IKEA to consolidate it and take it over.
AlvinofDiaspar
Moderator
Not sure if they have sufficient parking and loading space for the inevitable crowds though?
AoD
jiec
New Member
It would have to be a more "urban" IKEA with more focus on showrooms, delivery and Market Hall and not as dedicated to the couch in the back of a pickup truck crowd.
AlvinofDiaspar
Moderator
Maybe, I wonder when the leases for BBB, Marshall or whatever that gym is called now will be up.
AoD
AlbertC
Superstar
There's possibilities for smaller, urban format stores for IKEA which already exists in some cities:
www.cpacanada.ca
The "IKEA Planning Studio" concept has also opened in NYC:
www.cnbc.com
IKEA: coming to a downtown street corner near you
The Swedish behemoth is opening smaller urban stores to fend off Amazon and Wayfair
The "IKEA Planning Studio" concept has also opened in NYC:
Ikea's first small-format store is opening in New York. Here's a look inside
Swedish furniture retailer Ikea's move into Manhattan comes at a time when many other retailers, like Target and Kohl's, have been experimenting with pint-size locations in more urban areas.
www.cnbc.com