NorthYorkEd
Active Member
All the construction in and around the building has apparently caused delays. They are now hoping for late summer.
Toronto Emerald Park Condos | 128.92m | 40s | Bazis | Rosario Varacalli
- Thread starter AlbertC
- Start date
All the construction in and around the building has apparently caused delays. They are now hoping for late summer.
Bill123
Active Member
Bad news guys. Word is Metro will not be opening here. The situation is like this: Metro owns the entire 2nd floor and has leased around half to LCBO. Metro wants to rent the property out to a higher class tenant like Whole Foods instead of using it themselves. When the representative said Metro is "for sure coming" he meant that Metro owned the place so for sure they are going to do something with it.
But this is not in line with the sign maker coming and taking measurements specifically for a Metro sign. Very strange. Perhaps Metro cannot find a tenant that would use such specific plumbing and so they are opening there themselves as the tmi on the property is quite high.
The Metro is also vacant of all office furniture and construction workers. Very empty and clean in there. Probably cleared for renovation.
But this is not in line with the sign maker coming and taking measurements specifically for a Metro sign. Very strange. Perhaps Metro cannot find a tenant that would use such specific plumbing and so they are opening there themselves as the tmi on the property is quite high.
The Metro is also vacant of all office furniture and construction workers. Very empty and clean in there. Probably cleared for renovation.
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Suiseiseki
New Member
I wonder how different this mall would turn out if T&T had actually moved in. With the huge asian population in the area, T&T would do *extremely* well here.
alklay
Senior Member
Or any Asian supermarket like Oceans etc.
pipolchap
Active Member
Bill123, what are the kinds of business Metro can lease there? With Longo's coming, I'm not sure if the area needs another "Whole Foods" type grocery store. But then again, higher-end grocery stores are the only ones that can realistically open since they're the only ones that have the margins to cover the higher rents here.
Even though I'd love to see a Chinese supermarket, I don't expect to see a T&T, Tone Tai, Oceans or Foody Mart open here. Although I'd love to be wrong about this...
Edit: Meant to say Longo's
Even though I'd love to see a Chinese supermarket, I don't expect to see a T&T, Tone Tai, Oceans or Foody Mart open here. Although I'd love to be wrong about this...
Edit: Meant to say Longo's
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Uncle Meat
New Member
Another high end Whole Foods type store makes about as much sense as putting the Beer Store next to the LCBO, esp given the Whole Foods across the street has not been terribly busy. Something Asian would make a lot more sense. The Korean Hmart / M2M chain opened its three new stores along Yonge between Finch and Sheppard only recently so I assume the Korean population is growing.
Bill123
Active Member
This is what the Metro looks like now. The only thing left i can see are the exhaust vents.
The info was from another unit owner who talked to the developer and the developer said that, though it could be a while ago. My info was also from the developer. Pretty conflicting info so the compromise seems to be that the Metro does not want to open here but wants to lease it out. But every month that goes by is a lot of money wasted. I'm guessing they used the months of delays to find a higher class tenant to no avail and now they are forced to open there so they dont lose a ton of money.
Judging from my unit costs of 7.88/sq ft a month that vacant space metros not using could be costing them (assuming 1400m2 and assuming that its a condo) over 100K a month.
To answer Pipolchap, I don't know. Common sense tells me its either grocery store, gym or big box retail. At the very beginning the entire second floor was supposed to be another floor of pacific mall units until tnt bought it. Then obviously they bailed and it was then sold to Metro. Theres not a lot of retail these days looking for big store sq footage due to online shopping. They'd rather expand online and invest into more warehouse space. The new big retail stores (>1000m2) are almost always going to sell those big items that have high shipping costs like Solutions or those high end high margin stuff.
Some plumbers (2-3) have stayed behind, there is still work to be done on plumbing and it does not seem like its on the retail floor...
Update: The other dry cleaner has started tiling.
The info was from another unit owner who talked to the developer and the developer said that, though it could be a while ago. My info was also from the developer. Pretty conflicting info so the compromise seems to be that the Metro does not want to open here but wants to lease it out. But every month that goes by is a lot of money wasted. I'm guessing they used the months of delays to find a higher class tenant to no avail and now they are forced to open there so they dont lose a ton of money.
Judging from my unit costs of 7.88/sq ft a month that vacant space metros not using could be costing them (assuming 1400m2 and assuming that its a condo) over 100K a month.
To answer Pipolchap, I don't know. Common sense tells me its either grocery store, gym or big box retail. At the very beginning the entire second floor was supposed to be another floor of pacific mall units until tnt bought it. Then obviously they bailed and it was then sold to Metro. Theres not a lot of retail these days looking for big store sq footage due to online shopping. They'd rather expand online and invest into more warehouse space. The new big retail stores (>1000m2) are almost always going to sell those big items that have high shipping costs like Solutions or those high end high margin stuff.
Some plumbers (2-3) have stayed behind, there is still work to be done on plumbing and it does not seem like its on the retail floor...
Update: The other dry cleaner has started tiling.
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John10101
New Member
Anybody else hate the dude that goes around fixing stuff? Hes on his phone half the time and he barely seems to take extra long to do some simple tasks. He talks so loud on his phone just seems like he doesn't give a shit. Sucks the management money is going to someone like him. Hope they fire him
Bill123
Active Member
I don't think we should be so quick to judge the construction workers. They may be waiting on supplies or orders from TMG. In a big project such as this you cannot rush things and in construction you can't rush things or you risk injury. The current excuse is that more and more problems come up in the building.
We are in the midst of a condo boom and handymen are hard to get ahold of. Firing workers might actually slow down the project.
Like SRT said TMG usually gets the job done very quickly. I would instead blame Bazis lack of experience and 2008 housing crisis which made them take on 2 partners. There just may be too many conflicting interests to get the job done on time.
We are in the midst of a condo boom and handymen are hard to get ahold of. Firing workers might actually slow down the project.
Like SRT said TMG usually gets the job done very quickly. I would instead blame Bazis lack of experience and 2008 housing crisis which made them take on 2 partners. There just may be too many conflicting interests to get the job done on time.
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sunnyraytoronto
Senior Member
Not sure if you're talking about construction worker or building maintenance guy.
For construction worker, they're unionized and in this market in very strong demand. After seeing work on EmeraldPark subway entrance sit idle for almost a year,.... the way I look at it is,... one construction worker doing half the job is much better than no construction worker at all!
If you're talking about the building maintenance guy (and I think I know which guy you're talking about, short stubby middle age),... Bazis EmeraldPark pay them crap,... they contract it out to the lowest bidder,... the workers are generally unmotivated because they barely get minimum wage,.... so you get what you (in this case Bazis EmeraldPark) pay for.
BTW, if you want this guy to be more productive,.... the solution is easy,... just go to the Mobile Mender cell phone accessory store in EmeraldPark retail level and buy a hands free blue tooth headset for this guy,... that way he could work with 2 hands while he's talking on his phone!
Bill123
Active Member
Yea I think he's talking about the maintenance guy. I've heard nothing but bad from FirstService residential.
The computer repair, income tax, printing unit is going to start renovating soon.
So far the mall has seen the following open, renovating and looking to renovate:
- Ice cream store
- Mexican food restaurant
- Malatang restaurant
- Sandwich & Breakfast restaurant
- Yuki Hana Sushi restaurant
- Sushi & Teriyaki restaurant
- 2 Dry Cleaners
- Eyewear store
- Nutrition food store
- Cellphone store
- Computer repair/fax/income tax/printing store
- Beauty shop
- Beauty Salon
- Real estate office
- Hair Salon
- Presotea
- Chinese noodle restaurant
So 18/75 units are now taken. If Timmies actually comes make that 21/75.
There is news of another new tenant that will open a flower store.
Update: There is some activity in unit 104, some electrical work being done. Tim Hortons has taken 2 units, not 3.
The computer repair, income tax, printing unit is going to start renovating soon.
So far the mall has seen the following open, renovating and looking to renovate:
- Ice cream store
- Mexican food restaurant
- Malatang restaurant
- Sandwich & Breakfast restaurant
- Yuki Hana Sushi restaurant
- Sushi & Teriyaki restaurant
- 2 Dry Cleaners
- Eyewear store
- Nutrition food store
- Cellphone store
- Computer repair/fax/income tax/printing store
- Beauty shop
- Beauty Salon
- Real estate office
- Hair Salon
- Presotea
- Chinese noodle restaurant
So 18/75 units are now taken. If Timmies actually comes make that 21/75.
There is news of another new tenant that will open a flower store.
Update: There is some activity in unit 104, some electrical work being done. Tim Hortons has taken 2 units, not 3.
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Mint
New Member
really wish T&T opened there... would have been a perfect location (for me, that is )
Ah well, hope Metro is still going to open. Would rather shop at Metro than Whole Foods or the rumored Longo's at Sheppard Centre
)Ah well, hope Metro is still going to open. Would rather shop at Metro than Whole Foods or the rumored Longo's at Sheppard Centre
sunnyraytoronto
Senior Member
Didn't catch it earlier,... but nice new user id,.... especially since two of the EmeraldPark guys are named John,.... including a maintenance guy and concierge.
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Bill123
Active Member
Apparently the drywall guys are on strike so they wont be fixing the drywall. This explains why the construction workers have been pretty quiet recently. Drywall will be up to the tenants responsibility. However final closing will be pushed to around middle of May now. They moved all the scissor lifts out today so work on the entire building seems to be completing real soon.
There seems to be 3 types of retail unit owners here:
1. Investors
They just buy the property to park their cash and hopefully sell it at a profit or break even in the future. They don't care if it makes the mall look empty. They make no attempts to rent it out or rent it out at all. There are several units like this in the mall where potential tenants like a unit and find no contact info so they go to management for it only to hear that its only for sale or that the owners not interested in renting it out or selling it.
2. Landlords
They buy the unit to lease it out to someone. Some of these landlords are also shop owners elsewhere who have purchased the unit hoping to open but now have changed their minds due to the T&T not coming.
3. Shop owners
Physical retail was pretty good back in the day (2000-2008) where if you had a store and had a service/product people needed and was competent you made enough to open 1-2 more stores for yourself. Nowadays things are different due to online shopping. Online shopping has moved many stores from physical to virtual however it has not touched certain services, fresh goods, big goods, food, drugs...etc. Though most shop owners have turned into landlords due to the T&T bailing, some have turned back into shop owners due to the high monthly fees the unit is costing and that the unit is hard to rent out and hard to sell. They will just open a location here and have their wife, son, sister or something look after their other 1-2 stores.
There is a 4th type and its quite rare at the moment where they renovate and open a store to sell it as some sort of turnkey unit where the unit is under heavy renovations but there still is a for sale sign.
The church next door is putting up concrete walls now.
There seems to be 3 types of retail unit owners here:
1. Investors
They just buy the property to park their cash and hopefully sell it at a profit or break even in the future. They don't care if it makes the mall look empty. They make no attempts to rent it out or rent it out at all. There are several units like this in the mall where potential tenants like a unit and find no contact info so they go to management for it only to hear that its only for sale or that the owners not interested in renting it out or selling it.
2. Landlords
They buy the unit to lease it out to someone. Some of these landlords are also shop owners elsewhere who have purchased the unit hoping to open but now have changed their minds due to the T&T not coming.
3. Shop owners
Physical retail was pretty good back in the day (2000-2008) where if you had a store and had a service/product people needed and was competent you made enough to open 1-2 more stores for yourself. Nowadays things are different due to online shopping. Online shopping has moved many stores from physical to virtual however it has not touched certain services, fresh goods, big goods, food, drugs...etc. Though most shop owners have turned into landlords due to the T&T bailing, some have turned back into shop owners due to the high monthly fees the unit is costing and that the unit is hard to rent out and hard to sell. They will just open a location here and have their wife, son, sister or something look after their other 1-2 stores.
There is a 4th type and its quite rare at the moment where they renovate and open a store to sell it as some sort of turnkey unit where the unit is under heavy renovations but there still is a for sale sign.
The church next door is putting up concrete walls now.
sunnyraytoronto
Senior Member
Technically and contractually, it's still the developer-builder responsibility to deliver units with dry wall painted,...... which basically, they did last fall,..... but then had to rip up drywall and ceiling to put in water pipes which they omitted as they tried to cut corners,..... of course they failed city inspection,.... anyways, now the drywall and ceiling repairs are the responsibility of the developer-builder,.... not tenant,... any tenant that accepts a unit like is an idiot. In fact they should be suing the developer-builder.
First image shows exposed pipes that need to be covered with drywall,.... and ripped up ceiling and ripped up dry-wall walls,.... this is typical of many units now,....
Second image shows drainage pump,... since drain pipe won't be going down into the floor it'll need to be pumped up into the ceiling,..... basically the size of a large vacuum cleaner!
Third image should make UncleMeat happy,..... getting rid of those ugly wooden poles,....
