Toronto Forma | 308m | 84s | Great Gulf | Gehry Partners

Bjays92 said:
It would obviously be no cheap building to build, but I'd have to imagine in the long run it is a project worth building. It would be iconic, fantastic on their portfolio, and the highest end luxury condos in the city could easily come with a hefty price tag making the development worthwhile. That's just my perspective.
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You want to be fairly certain that you can sell those condos though, and maybe they don't believe there to be a large enough market for these gigantic luxury buildings at the moment. Things are not that certain right now.

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My two cents. Luxury units en masse are more challenging to rent out and from what I understand the entertainment district is a high percentage rental district. From a supply and demand perspective I think you might have to fairly much build the area out before you see prices increase enough for these towers to rise. On the plus side King Toronto sold fairly rapidly. I'd say give it 5-7 years.
 
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Bjays92 said:
It would obviously be no cheap building to build, but I'd have to imagine in the long run it is a project worth building. It would be iconic, fantastic on their portfolio, and the highest end luxury condos in the city could easily come with a hefty price tag making the development worthwhile. That's just my perspective.
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I agree. Plus, pulling off a project like this one will make the developer more credible in the eyes of financers should they wish to pursue high-end projects at prominent sites in New York City and London.
 
Doubt we see any movement on this until COVID is under control and downtown springs back to life.

Wouldn't be wise to launch now.
 
syn said:
Doubt we see any movement on this until COVID is under control and downtown springs back to life.

Wouldn't be wise to launch now.
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New condo sales in Q3 2020 were extremely strong (30% over 2019, a record for Q3 sales with a 7% increase in price YoY) and unsold inventory isn't unusually high; Q2 was one of the worst of the last 15 years. Average them out and you get something not great but not terrible either. I expect the number of people saving money while working, along with lower mortgage rates, has enabled a few to reach the financial requirements.

Winter restrictions will make things interesting but there will probably be a fairly typical number of starts in Spring/Summer 2021.

Various anecdotes of downtown being abandoned hasn't really been seen by the market trends as a whole; some number of people leave downtown every year and 2020 is no different.
 
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rbt said:
New condo sales in Q3 2020 were extremely strong (30% over 2019, a record for Q3 sales with a 7% increase in price YoY) and unsold inventory isn't unusually high; Q2 was one of the worst of the last 15 years. Average them out and you get something not great but not terrible either. I expect the number of people saving money while working, along with lower mortgage rates, has enabled a few to reach the financial requirements.

Winter restrictions will make things interesting but there will probably be a fairly typical number of starts in Spring/Summer 2021.

Various anecdotes of downtown being abandoned hasn't really been seen by the market trends as a whole; some number of people leave downtown every year and 2020 is no different.
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Resale transactions of dropped off quite a bit this quarter in the downtown market. I'm sure it will rebound eventually. At the moment I can't see them launching a project of this magnitude - a lot of buyers are anxious about the 'new normal' and how that will look after COVID.
 
syn said:
Resale transactions of dropped off quite a bit this quarter in the downtown market. I'm sure it will rebound eventually. At the moment I can't see them launching a project of this magnitude - a lot of buyers are anxious about the 'new normal' and how that will look after COVID.
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It may be a project worth launching after a vaccine starts getting contributed, as almost a vote of confidence towards a new normal. There always have to be bold players willing to bet on the future if things are looking optimistic.

Not that that's likely hear of course but it may not be a bad idea either.
 
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syn said:
Resale transactions of dropped off quite a bit this quarter in the downtown market. I'm sure it will rebound eventually. At the moment I can't see them launching a project of this magnitude - a lot of buyers are anxious about the 'new normal' and how that will look after COVID.
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I don't really know what the timeline for M+G was originally. I agree it's unlikely they will launch in Spring/Summer 2021, but I'm not sure that was being considered pre-covid.

The timing of the next phase of Sugar Wharf will be telling.
 
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rbt said:
I don't really know what the timeline for M+G was originally. I agree it's unlikely they will launch in Spring/Summer 2021, but I'm not sure that was being considered pre-covid.

The timing of the next phase of Sugar Wharf will be telling.
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This project is not a straight comparison to Sugar Wharf though, this one will have to be priced at a premium far beyond typical in Toronto.

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alexanderglista said:
Small but reassuring update?

https://twitter.com/x/status/1337008995735834624
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For those who don't see Twitter Previews.........

From this article by @AlexBozikovic

www.theglobeandmail.com

Dream Office REIT betting on Toronto with biggest development proposal since COVID-19 pandemic began

Dream Office REIT submitted an application this week to build a 310-metre office and residential complex at 212 King St. W.
www.theglobeandmail.com www.theglobeandmail.com

Through its publicly traded Dream Impact Trust, Dream also has an interest in the Mirvish+Gehry development, which would be located on the same block of King Street West. That two-tower complex, approved by the city at heights up to 305 metres, “is actively moving forward” and should come to market in 2021, Mr. Cooper said.
 
Northern Light said:
For those who don't see Twitter Previews.........

From this article by @AlexBozikovic

www.theglobeandmail.com

Dream Office REIT betting on Toronto with biggest development proposal since COVID-19 pandemic began

Dream Office REIT submitted an application this week to build a 310-metre office and residential complex at 212 King St. W.
www.theglobeandmail.com www.theglobeandmail.com

Through its publicly traded Dream Impact Trust, Dream also has an interest in the Mirvish+Gehry development, which would be located on the same block of King Street West. That two-tower complex, approved by the city at heights up to 305 metres, “is actively moving forward” and should come to market in 2021, Mr. Cooper said.
Click to expand...

I wonder if this means M+G will get a PATH connection since 212 King is getting one?
 
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