Toronto Bauhaus Condos | 110.9m | 32s | Lamb Dev Corp | a—A

A zoom-in and flyover:


Toronto Model 01-20-20 Bauhaus.png
 
A few key statements from a Globe & Mail article back in Sept 11, 2019 on this project:

A spokesperson for Lamb Development, owned by and named for condo impresario John Bradley Lamb, declined to comment. As of Sept. 1, at least some of the holders of agreements of purchase and sale with Lamb Development Corp.’s proposed 218-unit Bauhaus condo project at 284 King St. E. have begun to receive letters asking them to either extend the terms of the contracts or take their deposits back.

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“As it stands now, we do not believe we will be breaking ground for at least 2 years, with an estimated completion date of late 2025,” reads the letter Lamb Bauhaus clients received. “Our date for waiving the municipal and provincial zoning approval, 80 per cent sales achieved, and approval for construction financing are maturing September 1, 2019. We of course cannot waive the conditions.”

The conditions referred to are clauses that allow the buyers to walk away from the project if the developer hasn’t met deadlines. The Lamb letters offer buyers an option: either extend the early termination date to March 1, 2020, or “opt out of your deal and have your deposit refunded.”
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www.theglobeandmail.com

Lamb Development condo project in downtown Toronto delayed

In recent years, thousands of presale contracts for condominiums apartments and townhouses have been cancelled by developers, usually in a process that involves applying to Ontario’s new-home warranty regulator Tarion
www.theglobeandmail.com www.theglobeandmail.com
 
What a mess:

Lawyers for Fortress investors criticize ‘inappropriate’ offer from developer Brad Lamb

SHANE DINGMAN REAL ESTATE REPORTER
TORONTO
PUBLISHED JANUARY 8, 2020

Lawyers representing investors in syndicated mortgages of the failed lender Fortress Real Developments Inc. are urging their clients not to respond to an "inappropriate" financial offer from condominium developer Brad Lamb.

On December 20, a number of investors received emails from Mr. Lamb's about loans connected to two downtown developments that remain mired in preconstruction planning delays. The messages told investors they had until January 6 to vote on the offer.

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FAAN declined to specify Mr. Lamb’s complete offer, but said it represented barely 31 per cent of the $7.7-million owed to 139 individual lenders on Wellington House (422 Wellington St. W.). On Bauhaus (a proposed 218-unit condo project at 284 King St. E.), Lamb owes 110 BDMC investors at least $6.6-million. In both projects, Mr. Lamb has sent letters seeking permission to cancel contracts and return deposits to preconstruction buyers of some of the condo units as construction and planning delays have extended for years.
Click to expand...

www.theglobeandmail.com

Lawyers for Fortress investors criticize ‘inappropriate’ offer from developer Brad Lamb

In December, a number of investors received e-mails from Mr. Lamb’s company about loans connected to two downtown Toronto developments that remain mired in preconstruction delays
www.theglobeandmail.com www.theglobeandmail.com
 
dusk said:
I've always found this building quite handsome. Good addition to the neighbourhood.
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Be VERY careful not to confuse a rendering with an actual built building. You are judging on a rendering and even before the City has had its say on the plans, it MAY turn out OK but it's FAR too early to say so.
 
Handsome or not, as far as I can tell there's really nothing "Bauhaus" about it. Seems to me to be another laughable marketing misnomer along the lines of "Coastal Queen East."
 
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