Toronto eCondos | 195.67m | 58s | Bazis | Rosario Varacalli

[digitalis]

RioCan REIT Provides Update on ePlace, Its Landmark Mixed-Use Transit Oriented Development in Midtown Toronto

https://web.tmxmoney.com/article.php?newsid=5217878711401281&qm_symbol=REI.UN

Not sure how much of this is already known, but some interesting updates in the article...

"RioCan has entered into the following agreements with its partners with respect to the residential and retail components of the development:

1) On completion, RioCan, which currently owns a 50% interest in the rental residential tower, will purchase the remaining 50% interest in the rental residential tower; and

2) RioCan will acquire the remaining 50% interest in the retail component based on a 7% capitalization rate on the stabilized NOI on completion."

 

[innsertnamehere]

so this is remaining a rental then I guess.

 

[Contra]

Is that the extent of the extended portion of the building? Seems quite short. Hopefully they stick to the bright red glass. I could see this looking a lot more maroon in typical light and really killing the intension.

 

[someMidTowner]

September 19th:

 

[thefreak]

Love how the balcony glass is framed on the top. Nice touch.

 

[bricksandblocks]

E2 is not a rental. Popped up in my facebook feed. Sales are underway for 400+ units. The rental component is replacement only. Have been looking to clarify this for a while.

 

[Miscreant]

This is really starting to fill out the area. I'm sure folks at Y/E will be happy when at least this projection dies down. It's been non-stop work there for ages now.

 

[interchange42]

E2 is not a rental. Popped up in my facebook feed. Sales are underway for 400+ units. The rental component is replacement only. Have been looking to clarify this for a while.

If that's the case, that's new. I don't see any corroboration on the web for that.

42

 

[Tnt1984]

Yup was told by one of my platinum agent that E2 is releasing for sale in two weeks with price starting at $900/sqft. 450 units . Occupancy will probably be later than E1 so maybe 2020/2021.

 

[TheKingEast]

$900 a foot? Jesus.

 

[DonValleyRainbow]

This is really starting to fill out the area. I'm sure folks at Y/E will be happy when at least this projection dies down. It's been non-stop work there for ages now.

I think you can place more construction pains on the Crosstown. E Condos' disruption is tiny in comparison.

 

[innsertnamehere]

still another 3-4 years of pain for the crosstown too.

 

[Tulse]

I think you can place more construction pains on the Crosstown. E Condos' disruption is tiny in comparison.

Yes, but recently there has been the Madison and (before that) the addition to the Yonge-Eglinton Centre, and about 10 other condos under construction in a five-block radius or so. It's nuts.

 

[Midtown Urbanist]

Locals just got to accept that this will be an absolute pain until about 2025, when hopefully Eglinton Connects is finished and all the streets and sidewalks are nicely repaved and most major construction sites are completed.

 

[vamapean]

Yup was told by one of my platinum agent that E2 is releasing for sale in two weeks with price starting at $900/sqft. 450 units . Occupancy will probably be later than E1 so maybe 2020/2021.

my platinum agent told me the same thing :

E2 400+ units , $900+ per sq feet releasing date Mid Oct , closing 2022