Toronto Emerald Park Condos | 128.92m | 40s | Bazis | Rosario Varacalli

mckarisma said:
Not really. They have 1 building excavated and building...They have the site under demolition for 1 Bloor East which is guarenteed to be built, so I would say the bite is inevitable.

Edit: sorry just adding on...I think the question may not be trusting them with you money, but more is the price worth what you will get out of it later....ie Is the value there.
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I've seen buildings go up half way, and then abandoned because the funds run dry, so I wouldn't say it guaranteed because it has been excavated. I think the price is reasonable by today's standards and what similar units are going for in the area... but again there is no history with this builder... Who knows how well they deliver and the type of quality that is invloved in the finished product... for their asking price, I'd like to have that assurance.
 
You can find higher end stores one subway stop away at Bayview Village.
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With no direct connection between BV and Bayview station, I wonder if high-end shoppers are willing to cut across the parking lot to get between the station and BV.

Add Fairview Mall to the list of high-end shopping centres in North York, now that it has been renovated.
 
Bayview Village shoppers don't take the subway...they're the kind of people that would avoid the subway specifically because they think they're the kind of people that should avoid the subway.
 
CGM said:
I've seen buildings go up half way, and then abandoned because the funds run dry, so I wouldn't say it guaranteed because it has been excavated.
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Can you name any buildings in Toronto that went up halfway and then were abandoned? Other than the occasional townhouse project by an unknown builder?

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...and the stump was for an office complex, not a condo. I wonder what percentage of the completed project it did represent? 2% of the above ground space maybe?

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Edward said:
The Hampton Park (Bayview Ghost) was one such building.

http://www.toronto.ca/archives/current_bayview_ghost.htm
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Nope - the developer did not run out of money. From the Archives:

Construction ceased in 1959 when the developers realized that the Township of East York would not service the site with water and sewage facilities.

East York claimed the building permit had been issued in error, during a period in which zoning legislation was being updated to control apartment building construction. Agreement was reached only in 1981 to demolish the structure.

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Well you asked if anyone knew of a building that went half way up and then was abandoned. Clearly this was the case with the Bayview Ghost.

But you're right this building wasn't abandoned because the developer went under.
 
There was a building at Brimley and Sheppard I believe that started, then was abandoned for a few years before it was completed. It's not a condo, but still another example.
 
I was going to mention the Brimley Ghost but didn't since it's not a condo. Its concrete shell became the Oriental Centre something like 6 years after construction stalled due to lack of funds (if memory serves me correctly).
 
Edward said:
Well you asked if anyone knew of a building that went half way up and then was abandoned. Clearly this was the case with the Bayview Ghost.

But you're right this building wasn't abandoned because the developer went under.
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The context of the question was that of a major condo complex (the topic of this thread) being halted halfway through construction because the developer ran out of funds. The point is that for decades now finaniclal institutions don't lend in the first place until signed sales contracts litter the sales office floor. Sure there have been lots of projects that don't go up because they never got enough sales in the first place (eg. First Toronto Place), or sometimes the builder doesn't actually have zoning approval (eg. Mode), but that's different, and our skyline is not littered with half finished condo towers.

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I think we have been relatively lucky with developments in Toronto. Looks like the Waterview tower in Chicago is stalled until financing details are worked out and Trump tower in Tampa is stalled also due to financing.
 
Did Bazis put out a timeline for construction for Emerald Park? Does anyone know if they have all the permits? It will be interesting to see how long the process drags out before they start digging.
 
Approvals are not in place, no applications submitted

I would be considering any 'timelines' that Bezis puts forward for construction of Emerald Park with very little certainly.

As I understand, no development approval applications have been submitted to the City for this proposal, notwithstanding at minimum rezoning and site plan approval will be required. I believe an Official Plan Amendment will also be required given the proposal wil exceed height limit of 100 metres (and possibly exceed density limit of 4.5 FSI), and the current land use designation on the eastern portion of the site permits 0% residential as per the North York Centre Secondary Plan.
 
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