Big Daddy
Senior Member
Has anyone heard about the status of the request for 10 additional floors? Might be a good time to press for them as other projects go on hold.
Toronto Aura at College Park | 271.87m | 78s | Canderel | Graziani + Corazza
Johnzz
Active Member
Not yet.
Still waiting for something... anything...
I think an extra 10 floors would significantly add to the project. The building, as currently planned, is marketed as the tallest condominium in Canada if you don't count Trump and 1 Bloor.
This sounds a bit lame to me.If they add the extra floors, the project truly becomes the tallest residential building in Canada and very cool!
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Exodus
Active Member
my concern is if this structure gets built at all. i'm not sure what the hold-up is on getting the construction started since they seem to have met their sales target. the parking lot (where Aura is to be built) is still fully functional and there are no signs of construction at all. everything seems to be at a stand-still. and there doesn't seem to be much discussion or advertisement of the structure recently.
anybody with updated information?
anybody with updated information?
skyscrapersucks
New Member
The updated news from sales office:
1. The tower suites - 93% sold
2. The Penthouses - 2 of 13 sold
3. Retailer space - 40% sold
4. They don't mention 10 extra floors any more
5. Will dig in middle of this summer
1. The tower suites - 93% sold
2. The Penthouses - 2 of 13 sold
3. Retailer space - 40% sold
4. They don't mention 10 extra floors any more
5. Will dig in middle of this summer
Mike in TO
Senior Member
Or might be the worst possible time to press for extra floors. There were only 155 high-rise units sold in Toronto in December... spread over 350+ projects. While anything is possible on this site, neither Canderel nor their financial partners are likely to have the appetite to put a series of high-end penthouse type units on the market as the upper-end units are moving the slowest in the current marketplace.
So called "sales targets" are rather meaningless when the supply of credit has been cut off in the residential marketplace.
taal
Senior Member
Not bad ... I think the retail is pretty impressive seeing how they haven't been on the market that long. There's quite a bit of it to. Don't forget this building will take forever to complete so it's a long term commitment.
They're going to have difficulty selling those penthouse units. I don't doubt they'll be able to but it'll take quite some tome I think.
If I were to guess I think we can forget about the +10 floors for now.
They might, make the change during construction though (not unheard of). If the market picks up and ask for that as a minor variance.
They're going to have difficulty selling those penthouse units. I don't doubt they'll be able to but it'll take quite some tome I think.
If I were to guess I think we can forget about the +10 floors for now.
They might, make the change during construction though (not unheard of). If the market picks up and ask for that as a minor variance.
androiduk
Senior Member
As you can see below, they applied for a shoring permit in Aug. 08 and it was refused. That's the last activity.
------------------------------------------------------------------------
Application: Partial Permit Status: Refusal Notice
Location: 388 YONGE ST
TORONTO ON
Ward 27: Toronto Centre-Rosedale
Application#: 08 196702 SHO 00 PP Accepted Date: Aug 25, 2008
Project: Multiple Use/Non Residential Partial Permit - Shoring
Description: Part Permit - Proposal to construct a 4 sty commercial building with 6 levels of underground parking. (Future location of 75 sty condo). 382, 388, 400 Yonge St.
PP Zoning Review Not Started
Plan Examination Facciolo, Tony Contact Info
PP Code Review Sep 25, 2008 Refusal Notice
Plan Examination Chiu, Richard Contact Info
--------------------------------------------------------------------------------
Johnzz
Active Member
The developers have previously said the building is "engineered" to add another 10 extra floors.
Does this mean the extra floors can be added after the foundation's been laid?
I’m just curious to know if the additional floors have to be decided upon before construction begins (i.e. in the next 6 months) or can be postponed as late as 3 years from now…
Does this mean the extra floors can be added after the foundation's been laid?
I’m just curious to know if the additional floors have to be decided upon before construction begins (i.e. in the next 6 months) or can be postponed as late as 3 years from now…
skyscrapersucks
New Member
They must get permit from the city to add 10 extra floors. Because all capacities like hydro,water,TTC will be changed and need to be review
khris
Senior Member
There is a point where it would be too late to change the height. What that point is I'm not sure. I would think after the foundation has been laid would be too late.
Tuscani01
Senior Member
But if its being engineered to accommodate an extra 10 floors from the start, then there is no point where it would be too late.
Well, there is a point when it's too late, but yeah, it comes many floors up.
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Big Daddy
Senior Member
I think it is prudent for them to hold off for a while. In six months they can review the situation and decide to go or wait another six months. However I still believe now is a good time to get the right for the additional 10 floors - it's easier to forgo them than it is to get approval for them. Also, who said they would be penthoise floors? They could go anywhere - more likely the cheaper floors which sell faster.
skyscrapersucks
New Member
Don't believe they can sell the extra 10 floors as fast as the units they sold last Feb ~ Mar. The timimg has been changed. If these extra units can't be sold well, the total sold unit rate would be much lower (for instance lower than 80%), under the current financial circumstance, they may lose the advantage to get financing to build. Don't forget even the lower floor units they also sell for $550 psf. In Dec 2008 only about 100 hish rise condo units sold in GTA, people are not always stupid to meet the developers and agencies greed.
Automation Gallery
Superstar
Youre probably right But again the selling feature that they would have going with the extra floors is unobstructed all around views also many people would like living sky high in one of the tallest condos in Canada.
Looking at the design and location of this complex even though its bad timing i think the extra 10 floors would sell.