UtakataNoAnnex
Senior Member
Wait, pigs don't fly either? >.>
Toronto Concord Sky | 299m | 85s | Concord Adex | Kohn Pedersen Fox
- Thread starter greenleaf
- Start date
AlvinofDiaspar
Moderator
Not impossible but beware of what you are wishing for - redesign doesn't equate to improvements. Personally I don't want to chance a project that is KPF-designed and looks decent.
AoD
elad
New Member
What is feasible financially depends on land price and market demand, both of which may drop from covid effect for high-rise above 15ish floors. If the same density can be achieved in a midrise over larger land footprint that may well be the future trend.
Big Daddy
Senior Member
What makes it improbable? GG has the resources, Cresford doesn't.
Northern Light
Superstar
Your assertion that GG would sit on the project is improbable.
Beyond being highly speculative.
The 2 projects are at every different stages.
One has never begun marketing, let alone construction.
The other is substantially sold, and was under active construction.
Not comparable.
Big Daddy
Senior Member
well we all thought it was improbable that GG would sit on MG - but here we are.
elad
New Member
Why do you suppose GG is sitting on MG - could it possibly marketability?
3Dementia
Senior Member
Sorry to interrupt, but what's GG got to do with this property? Haven't we (months ago) all ready discussed the informed(?) rumour, or terrifying news, that Concord may have picked this up?
If GG is in play, I'm thrilled.
If GG is in play, I'm thrilled.
elad
New Member
Well not sure what you refer to by "this property" - I hadn't heard Concord being involved in either YSL or MG???
3Dementia
Senior Member
"Property" = this thread title. aka a hole in the ground located at 383 Yonge.
elad
New Member
That describes it (with a brutal hoarding around it)!
ADRM
Senior Member
People who had directly relevant insight into the MG project not only thought it was probable, but highly likely.
elad
New Member
ADRM - Do you have any current contact with such people?
rbt
Senior Member
July/August Q3 new condo sales numbers aren't terrible. There's no reason to believe at this point that downtown high-rise living has been permanently impacted in popularity, let alone dead.
If land prices fall enough to make 15 floors common; it'll be after 10 years of building absolutely nothing as land-owners will hold-out for a long time if you try to shave 75% off their highest appraised value.
Last edited:
crumplescotch
New Member
Don't hold your breath - the government already expressed their desire to keep immigration levels high which ultimately means GTA real estate is going to be just fine. Their most important objective is to make sure new immigrants aren't a threat to the healthcare system and have enough money to afford rent in GTA (or buy property - even better).
London, UK, for instance, was shamelessly following this model for more than 25 years: every proper Russian oligarch has bought a mansion in Central London or Paddington and was granted a residency status for that. London's real estate is still doing great by simply 'overlooking' where the funds came from, if you catch my meaning. Toronto is just a somewhat cheaper (and newer) version of that.
COVID or not there's still a strong demand to immigrate to Canada for all the reasons, chances are, newcomers won't be too worried about COVID but rather they'd prefer to move downotwn where there are things to do, things to see, walking distance to shops and all sorts of amenities. All things considered, a wealthy immigrant (or rather offspring of some wealthy parents) wouldn't want to live in a suburb mcmansion for 1 million CAD, they'd much rather live in a posh-looking condo near some expensive boutique or a restaurant.