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

Automation Gallery said:
Let alone a couple dozen or more master plans of new neighborhoods around the city with some pockets of big ass towers
throw in all the new planned and u/c LRT lines, Subways, GO, and Smart Track, and some new tourist attractions,
Ontario Place, Rail Deck Park, Portland's Woodbine Casino, etc.

It's mind boggling:eek:what's going on and what's to come in the GTA....we wont recognize it in 10 years:cool:
Click to expand...
I’ll believe it when I see it all. :) Plans are ‘cheap’. For example, every Future Toronto model has tons of proposed builds, some of which are many years past proposal date, and unlikely to be profitable in today’s market.
 
What's keeping this project from moving forward ?
Toronto has very low new build coming to market yet has high demand seems like a good time to move this project forward
 
Obsidian said:
What's keeping this project from moving forward ?
Toronto has very low new build coming to market yet has high demand seems like a good time to move this project forward
Click to expand...
Development companies have timelines, finite funding, and so on. Companies don't have the money or resources to build everything at once and if they stretch themselves too thin they can go belly up fast. There are two incredibly recent examples of this. Cresford in Toronto, and the one in all the headlines now, with global significance, Evergrande in China.

Great gulf has a timeline and targets for when this building will be built. Everything from sales, to groundbreaking to overall completion is scheduled. Sometimes this can move forward and sometimes this can be pushed back for a variety of reasons.

There may also still be more fine tuning and tweaking needed before this building can officially be approved (I'm honestly not sure what the status on this is) each iteration of this building to come forth has been more refined, realistic and buildable. What we see now is likely close to what it's built form will look like but that doesn't mean there still arent small bits of work to do that are going on quietly behind the scenes.
 
Obsidian said:
What's keeping this project from moving forward ?
Toronto has very low new build coming to market yet has high demand seems like a good time to move this project forward
Click to expand...
Umm no, Toronto has more buildings under construction than anywhere in North America. There is so much demand coming to market for both residential and commercial currently and within the next 2 years. Look at all the buildings already under construction.
18E7707B-C983-4EB6-A0D4-AD684F570F30.jpeg
 
Last edited:
These have always been "6 months" away from going into sales. And it has been like this for over 8 years.

And all the delays have obviously been due to sizable problems (whether the design was too costly, the developers didn't have the financing or a combination of both). One can only assume that the problems continue, as the market is red hot and other substantial luxury designs have moved forward.

The wait continues.
 
ushahid said:
your comment has unblocked all the hurdles, it will go forward now. ✌️
Click to expand...
I guess since this got neutered down quite a bit, I am far less concerned it getting bumped here with "Any news?" queries than I was before...
 
urbanexplorer said:
Umm no, Toronto has more buildings under construction than anywhere in North America. There is so much demand coming to market for both residential and commercial currently and within the next 2 years. Looks at all the buildings already under construction.View attachment 353770
Click to expand...

Toronto home prices hit new record with supply at 'critical juncture'​

The number of active listings plunged by half in September, with just 9,191 homes up for sale at the end of the month; and new listings sank 34 per cent compared to a year earlier.
“The lack of housing supply and choice has reached a critical juncture,” said Kevin Crigger, president of TRREB, in a release.
.
 
alklay said:
These have always been "6 months" away from going into sales. And it has been like this for over 8 years.

And all the delays have obviously been due to sizable problems (whether the design was too costly, the developers didn't have the financing or a combination of both). One can only assume that the problems continue, as the market is red hot and other substantial luxury designs have moved forward.

The wait continues.
Click to expand...
This is simply untrue, the project was more or less a vision until Great Gulf came on. It may still be more than 6 months away but it is apart of the companies portfolio and their long term plan. They've already sunk a considerable amount into making this project feasible and this is the closest we've ever been to construction.
 
It wouldn't surprise me if pre-sale timelines have stalled due to the numerous supply chain issues going on across North America (lumber and steel are big ones) as well as the cost of labour going up. It's a volatile market to move forward on a big project when building supplies and talent are difficult to come by and their cost is constantly in flux.
 
Obsidian said:

Toronto home prices hit new record with supply at 'critical juncture'​

The number of active listings plunged by half in September, with just 9,191 homes up for sale at the end of the month; and new listings sank 34 per cent compared to a year earlier.
“The lack of housing supply and choice has reached a critical juncture,” said Kevin Crigger, president of TRREB, in a release.
.
Click to expand...
And yet your original comment about “very low new build coming to market” still stands as what I was responding to. Also, the demand that article is referring to is overwhelming for semi and fully detached homes i.e houses - not luxury condos.
 
  • Like
Reactions: rbt
Bjays92 said:
This is simply untrue, the project was more or less a vision until Great Gulf came on. It may still be more than 6 months away but it is apart of the companies portfolio and their long term plan. They've already sunk a considerable amount into making this project feasible and this is the closest we've ever been to construction.
Click to expand...
What's not true? That there have been financial issues holding it back (a 8+ year delay and a sale of the concept by the original players is proof of this)? That there have been design issues (it has been redesigned more than once, and eight years to design an apartment building is not the realm of reasonable)?

I am sure they have sunk a lot of money into this project. And I am sure every day, we are one day closer to sales.

But this has obviously not been easy financially or design wise. Otherwise it would have been completed by now.
 
They should have built it at the original heights they got approval for before they got greedy with the taller height demands. Which I'm pretty sure put their negotiations back to square one for them...only to eventually find they couldn't get the new height, forcing another redesign. And here we are today...staring at new renders and nothing burgers where those towers should be.
 
You must log in or register to post here.

Back
Top