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

DSCF2309.jpeg


Never noticed the two old hand painted billboards on the Storey’s building north of the site.
 
Doppleganger said:
And so it begins! Here's hoping the second tower also gets built, but even if it doesn't, in terms of design excellence, Forma will be the benchmark against which all others will be measured for the foreseeable future!
Click to expand...
There must be a second tower. Not that I trust Toronto & the powers that be, but I do trust Frank Gehry Inc. w their drive & iconic vision.
 
Skyhighzz said:
There must be a second tower. Not that I trust Toronto & the powers that be, but I do trust Frank Gehry Inc. w their drive & iconic vision.
Click to expand...
Not sure you understand how condos are built... Frank Gehry & his company do not have the ability to just build a condo without financing - and in Canada you need to sell 70% of the units during the preconstruction phase before financing can even obtained. And with new condo sales down 80% YoY that's going to be difficult.
 
stevedean said:
Not sure you understand how condos are built... Frank Gehry & his company do not have the ability to just build a condo without financing - and in Canada you need to sell 70% of the units during the preconstruction phase before financing can even obtained. And with new condo sales down 80% YoY that's going to be difficult.
Click to expand...
I was definitely being more an optimist. So save the condo development & financing lesson-I’m well aware. And I strongly believe both Gehry towers will be built in his hometown. The nostalgia legacy thing is real; Lotta smart wealthy people appreciate iconic architects- 50% of the suites sold quickly in first 6 week period. Just getting the first tower above ground now is both brilliant & honestly surprising.
It’s Gehry’s vision: A masterpiece? There should be 2 towers in the next 8-10 yrs.
 
stevedean said:
Not sure you understand how condos are built... Frank Gehry & his company do not have the ability to just build a condo without financing - and in Canada you need to sell 70% of the units during the preconstruction phase before financing can even obtained. And with new condo sales down 80% YoY that's going to be difficult.
Click to expand...

One thing about real estate, it never stays the same. With interest rates dropping, financing will become more affordable which will impact condo sales in 2025/2026 likely in a positive way. This is an iconic project from an iconic artist. My bet is that the second tower WILL be built. It might just be delayed a couple years compared to the original timeline.
 
travis3000 said:
One thing about real estate, it never stays the same. With interest rates dropping, financing will become more affordable which will impact condo sales in 2025/2026 likely in a positive way. This is an iconic project from an iconic artist. My bet is that the second tower WILL be built. It might just be delayed a couple years compared to the original timeline.
Click to expand...
I hope so - and I think you're probably right.
But my point is that Frank Gehry and Co have no power to push it to happen on their own. It's not a question of "drive & iconic vision" as the original comment said - it's a question of market dynamics.
 
stevedean said:
I hope so - and I think you're probably right.
But my point is that Frank Gehry and Co have no power to push it to happen on their own. It's not a question of "drive & iconic vision" as the original comment said - it's a question of market dynamics.
Click to expand...
The second tower will not be on sale anytime soon, there is no appetite for the next few years at the least. Who in their right mind will pay $2K = 1 Mil + for a 1 bedroom 500 sqf + closing fees. Frank Gehry has 0 power in this.
 
toronto647 said:
The second tower will not be on sale anytime soon, there is no appetite for the next few years at the least. Who in their right mind will pay $2K = 1 Mil + for a 1 bedroom 500 sqf + closing fees. Frank Gehry has 0 power in this.
Click to expand...
When real estate bros w blinders on enter the chat. Other big factors are at play w this huge development. Yes, market dynamics (of course) + iconic vision of a legendary hometown architect-there’s a lot of pull in that. And sales have been surprisingly impressive w Forma. So?
Wealthy big city Toronto will always be fine & should be very healthy by the time the 1st tower is built, w market forces/ supply & demand. Getting that 1st tower going was the hardest part. We’ll just have to check back in 6-8 yrs to see who had a better understanding of it all.
 
Skyhighzz said:
When real estate bros w blinders on enter the chat. Other big factors are at play w this huge development. Yes, market dynamics (of course) + iconic vision of a legendary hometown architect-there’s a lot of pull in that. And sales have been surprisingly impressive w Forma. So?
Wealthy big city Toronto will always be fine & should be very healthy by the time the 1st tower is built, w market forces/ supply & demand. Getting that 1st tower going was the hardest part. We’ll just have to check back in 6-8 yrs to see who had a better understanding of it all.
Click to expand...
Very nice of you to refer to us as "real estate bros w blinders".
I'd argue that your optimism and reliance on "vision" and "drive" make you the one with the blinders!
Yes, it's an iconic architect. Yes, everyone in this forum wants it to be built. But your point that it "must" be built or that Gehry's vision can make it happen, is simply silly.
 
Skyhighzz said:
When humour mixed w optimism completely bypasses the brain. That wasn’t my point. I’ve gone in further detail about my point & my opinions. It was a figure of speech or a turn of phrase if you will. An allegory or metaphor phrasing. And you took that ‘It must be built” as the literal meaning? Cute. Good to learn these things. So, relax.
Click to expand...
sorry I missed the great "humour" in your post! It truly was a hilarious post now that I read it again
 
You must log in or register to post here.

Back
Top