Toronto The Gloucester on Yonge | 147.82m | 44s | Concord Adex | a—A

metropolis said:
Is work being continued on this project? I live close by but not in the area during the day to see if workers are on site or now.
Last I remember reading about developer and cash crisis back in early spring that may affect work on this project.
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Yes, there are workers every weekday (I can see them as I work from home), but work is proceeding very slowly. They’ve been working on that top floor for at least 3 weeks.
 
The residential levels are topped now with just the mechanical to go I believe, unless I am mistaken.
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Clover may be the pleasant surprise of the summer. Very much liking the glass on this one and while the podium may be a bit busy and chunky I'll take it over the typical monolithic pre cast cubes we in Toronto are normally subjected to. Thanks Benito for all the pics.
 
metropolis said:
Last I remember reading about developer and cash crisis back in early spring that may affect work on this project.
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Cresford experienced issues. In June the land and unfinished building was sold to Concord Pacific who paid out debts and restarted construction.

AFAIK, all previous purchase agreements were torn up by Cresford (due to financial hardship) and Concord Pacific has offered former buyers the first opportunity to purchase a unit (such as the one they were previously expecting) at about a 30% price increase from the previous contract rate. I don't know believe they've offered units to the general public yet.
 
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TossYourJacket said:
This really has turned out to be surprisingly great, I can't say I expected much from the renders. Also, sad yet funny that the only way Concord could build a good project in Toronto was to buy a half-finished Cresford one.
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I cant even give Concord credit for "building" this. All they've done here is pumped some money into it; all materials were already signed, sealed, and delivered before they could bait and switch/cheap out like they always do.

We've already seen them renege on purchase agreements and jack up the prices sky high, so we know they would've cheeped out further if they could've.
 
Amare said:
I cant even give Concord credit for "building" this. All they've done here is pumped some money into it; all materials were already signed, sealed, and delivered before they could bait and switch/cheap out like they always do.

We've already seen them renege on purchase agreements and jack up the prices sky high, so we know they would've cheeped out further if they could've.
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Since Cresford went bankrupt with their higher quality materials and concord remains strong and is finishing Cresford projects. It seems clear to me which one is the better developer.
 
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Obsidian said:
Since Cresford went bankrupt with their higher quality materials and concord remains strong and is finishing Cresford projects. It seems clear to me which one is the better developer.
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Better for whom? depends on who you ask. Obviously buyers want high quality materials in their home! Ask CityPlace
 
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