SpadinaBus
Active Member
This property was recently sold. So, those of you that have access to whom this property was purchased, let it fly!
Toronto Downtown Condos at Wellington West | 36.57m | 11s | Parallax | Sweeny &Co
- Thread starter cabeman
- Start date
VoiceofReality
Active Member
Looks like it was sold Power of Sale to a single purpose company 'Portwell Developments Inc.'...
SpadinaBus
Active Member
Thank you VOR. Next mission for everyone - who the heck is that and what are they planning to do??
urbandreamer
recession proof
Is it a Freed company? Portwell=Portland and Wellington.
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SpadinaBus
Active Member
Urbanation's twitter feed just posted this:
Potential condominium site perhaps? 508-516 Wellington Street West sells to Parallax Investment Corporation (www.parallaxcorp.ca).
Potential condominium site perhaps? 508-516 Wellington Street West sells to Parallax Investment Corporation (www.parallaxcorp.ca).
urbandreamer
recession proof
^Their record isn't very impressive. Granted, they stopped building eyesores in Toronto c.2001. So we'll have to see whether these guys get their groove on in Freedville.
Team Me
Active Member
Seeing all of those biege stucco boxmall behemoths on their site doesn't exactly inspire confidence.
bAuHaUs
Active Member
Block sold for $4,400,000 to Portwell Development
urbandreamer
recession proof
by Sweeny Sterling Finlayson & Co. Architects Inc. 11 storeys.
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Sneaky--selling cheaper units next door to Freed's highend loft building. Looks okay, if rather conservative compared to Freed's offering.
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CN Tower
Banned
"Parallax Investment Corporation is a privately owned and operated real estate development company founded by Owen Lawson in 1981. Over the years Parallax has successfully completed every one of the over 75 significant development and investment ventures we have taken on and currently have over $120 million of development under construction."
75 developments? What have you done since 1981? For that matter what has Mr. Freed done? 4 trendy buildings in 5 years? The paint isn't even dry on 550 Wellington and you are already anointing him the king. Easy buddy. Respect please.
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urbandreamer
recession proof
Judging by their portfolio of rubbish, I'll give Freed the title in a heartbeat.
Towered
Senior Member
I was wondering what was going to happen with the abandoned houses on this site. Pretty nice infill. That cute cafe on the corner is really going to feel the squeeze though...
gristle
Senior Member
The cute little cafe is actually Bar Wellington, a drinking spot popular with the locals. With the recent fire at the Old York, the loss of this place would be pretty bad.
I've noted that the windows once proposed for the west wall are no longer in evidence on the render (Dermott Sweeny provided a nice windowed version at a past community meeting). This would suggest that Bar Welly's days are numbered, and that the street and nearby park will end up with a blank wall facing onto them for a while.
I've noted that the windows once proposed for the west wall are no longer in evidence on the render (Dermott Sweeny provided a nice windowed version at a past community meeting). This would suggest that Bar Welly's days are numbered, and that the street and nearby park will end up with a blank wall facing onto them for a while.
Team Me
Active Member
I believe Bar Wellington recently received heritage status. So it should still be there for a long while.
gristle
Senior Member
That's good news. Then again, I have to wonder why the windowed version vanished. It was superior to the blank wall.