…and with that return volley, enough of trading insults back and forth. Any more responses in kind will come with a holiday from UT.
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"All these people hailing the newfangled stuff they're building in London, but who'd be absolutely STOOPID. STOOPID. STOOPID. STOOPID. STOOPID. at beholding anything in London, or New York, or wherever that's over 20 years old, unless it's some kind of Certified Tourist Landmark or Seagramesque *ooh*! *aah!* proto-starchitecture..."
Is Alex Bozikovic's contention that this project will make hundreds of millions of dollars for David Mirvish going to be repeated on UrbanToronto without being challenged?
This project is going to cost a lot more to build than the average owing to it's ever-changing and expensive cladding, floorplates, finishings, etc. The architect is more expensive than most too, much more in fact. Then there are the features in the podiums that have to be paid for: one being given free of charge to OCAD U, the other being turned into a large art gallery. After however many tens of thousands extra it's going to cost per unit to build those features, you'd then have to add on another $40,000 per unit on average to clear $100,000,000.
We're seeing luxury units languish on the market in Toronto. Trump, Shangri-La, Aura, the Ritz Carlton, 77 Charles West, and many more buildings have lots of million dollar units sitting unsold. This is such a large project, it has to be priced right to work. Sure a good number of people will pay a premium to live in M+G, but the state of the market at the moment does not favour the difference being that big, and definitely not on smaller suites: investors won't buy what they can't cover from renters (and Festival Tower showed that renters aren't normally willing to pay a premium for OTT buidings).
It comes down to this: Mirvish should make many millions on this project if it's priced right, and nothing if it's priced too high. Claiming he will make hundreds of millions? Silly talk.
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I should add that the possibility that Mirvish might actually lose money on this project makes me even less supportive of it. The worst possible outcome - and one of the reasons I've decided to oppose the project in its current form - would be for the heritage buildings to get demolished and then sit as an empty lot while Mirvish waits for "market conditions to improve" (or decides to just sell it off to another developer).
I'm not, in principle, against rich people making money off condo developments. I am against private interests trumping the public good. Great architecture is a public good, but so is heritage, community consultation, planning policy, etc.
The TD Centre is a great work of architecture, but it also set a precedent for large-scale development that resulted in dozens of lesser buildings getting put up in the 1960s and '70s.
The worst possible outcome - and one of the reasons I've decided to oppose the project in its current form - would be for the heritage buildings to get demolished and then sit as an empty lot while Mirvish waits for "market conditions to improve" (or decides to just sell it off to another developer).
The TD Centre is a great work of architecture, but it also set a precedent for large-scale development that resulted in dozens of lesser buildings getting put up in the 1960s and '70s.
Just as so many supporting it do so without recognizing that M-G may not turn out to be the dream they are wishing it to be.
There is a certainty when it comes to what will be lost in the process.
That may be the case for some posts buildup but why try to silence the debate? The very fact that this lengthy debate exists is proof positive that arguments both ways are widely subscribed to and that the project as envisioned is controversial. I would be willing to bet that given the fact that this forum is largely made up of individuals who are pro-development and personally interested in architecture and design, if presented with the facts the vast majority of people in the city would oppose this project. This is not an argument against the development itself. Subjected to democratic scrutiny probably no contemporary building would ever get built. Perhaps the very fact that the project is controversial is a good argument for it to proceed. It's just that characterizing those who oppose it as isolated or unreasonable is ironic because they more likely represent the majority position.
I would be willing to bet that given the fact that this forum is largely made up of individuals who are pro-development and personally interested in architecture and design,
Like, if any of you think warehouses aren't worth seriously regarding as heritage, imagine how absurd and out-there the case for the High Line once might have seemed...
Although the High Line did have its already well established precedent with the Promenade Planté in Paris, I do get your point!