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

[ProjectEnd]

Big rebar:

 

[fanoftoronto]

We've hit the surface!!!!

I mean like a few inches of the rebar is sticking above ground but it still counts!!

 

[AHK]

From yesterday, July 25 - Rebar delivery being lifted into the site. Ongoing concrete work as well.

 

[kotsy]

 

[khaldoon]

Rebar forest keeps growing.

 

[artemperederii]

When does second tower start?

 

[rbt]

When does second tower start?

Unknown, and I doubt if Great Gulf knows either. They'll probably try to market it as the first tower is completed so they can use that excitement to sell higher-priced units in the taller tower.

They're going to be looking for hundreds of people willing to pay ~$2500/sqft. The high-end market is still active but few customers with those funds want a 10th floor unit with zero view.

 

[longfortheoldview]

Is there a possibility that it wouldn't get built?

 

[C-mac]

Is there a possibility that it wouldn't get built?

I doubt it won't get built, but might get pushed back quite a bit.

 

[Koops65]

It's already been pushed back quite a bit!

 

[rbt]

Is there a possibility that it wouldn't get built?

It's possible this design won't get built, but even if Great Gulf goes bankrupt some developer will eventually build something in this location. Housing demand in central Toronto is still extremely high.

The inability to find buyers willing and able to pay a premium for this design and scale would kill it. Phase 1 sold quickly.

 

[Collingwoodbuildinglover]

I personally will make a bet that whenever the podium is complete on the first tower we may start to see movement for the second he just going on the same idea that Pinnacle did with sky Tower

 

[RCEO]

The first tower sold-out quicker and at higher prices than the developers expected.

Interest rates are crashing fast. Population is growing at rates never seen before in GTA.

2nd tower will get built, but they won't start preselling until the glut in GTA condos is absorbed.

Developers focus by dream impact (mpct-un.to) and others are PBRs using CMHC loans for 10 years at 3% and lower, not condos right now.

 

[Undead]

These towers are a place for the excessive money in the economy to get parked, not house people.

 

[travis3000]

Unknown, and I doubt if Great Gulf knows either. They'll probably try to market it as the first tower is completed so they can use that excitement to sell higher-priced units in the taller tower.

They're going to be looking for hundreds of people willing to pay ~$2500/sqft. The high-end market is still active but few customers with those funds want a 10th floor unit with zero view.

By the time they start marketing the 2nd tower I imagine it'll be 2026, when you can get a 5 year fixed rate for 3.49% , should help affordability and IMO condo sales should start rebounding around this time. Also, these towers are iconic so I imagine they will sell better than most.