JasonParis
Moderator
They Might Be Giants!
Toronto Four Seasons Hotel and Private Residences Toronto | 203.9m | 52s | Lifetime | a—A
Mike in TO
Senior Member
I've heard about 1/5 of the units have been sold thus far (both buildings are in sales) - sales have primarily been to locals. Occupancy is the end of 2010.
TrickyRicky
Senior Member
Incidentally, I don't know if this is news but I heard rumour that Architects Alliance has been or will be fired from this Four Seasons project. Why? I don't know.
Hipster Duck
Senior Member
^Hopefully because the latest version sucks ass.
Filip
Senior Member
Somehow, a high profile project like the Four Seasons flagship being redesigned mid way through sales doesn't sound too confident.. Unless they really know what they're doing. I'm a fan of the AA design, but if they hired a starchitect, or someone that can give us something pretty unique, then I'm more than happy.
Sir Novelty Fashion
Senior Member
Mike - is that good / par for the course?
TrickyRicky
Senior Member
"I'm a fan of the AA design, but if they hired a starchitect, or someone that can give us something pretty unique, then I'm more than happy."
I seriously doubt a starchitect will be involved. The only reason I know AA is in trouble is because they have been approaching other (local) architecture firms to take AA's place. This for instance does not imply that they will be significantly altering the existing concept.
I seriously doubt a starchitect will be involved. The only reason I know AA is in trouble is because they have been approaching other (local) architecture firms to take AA's place. This for instance does not imply that they will be significantly altering the existing concept.
Waterloo_Guy
Active Member
I imagine that FS wants the building to have a simplicity about it so that it projects class and status. For the same reason the Queen wouldn't put spinners on her Rolls Royce, making this project look too cool might diminish its sense of 'dignity'.
Mike in TO
Senior Member
Menkes is pleased with the response thus far.
Trump took how long to sell 20% on the units?
CDL.TO
Moderator
In an article from the Post on Toronto's new uber-rich...
Last month, two projects launched in Toronto -- the Four Seasons and the Shangri-la -- both of them connected to five-star hotels. Within four weeks, both of them were more or less half sold. "I thought it would take nine months to a year to get where we are now," says Hunter Milborne of Sotheby's International Realty, which is marketing the Four Seasons. At $1,200 to $1,400 per square foot for the non-penthouse units, the Four Seasons is setting a new gold standard. "What's amazing," adds Mr. Milborne, "it's the biggest, most expensive units that are selling fastest." [...]
A few years ago, million-dollar apartments were rare in Toronto and other big cities in Canada. No more. A few months ago, former BMO CEO Tony Comper spent $16-million for a Yorkville penthouse, and the penthouse at the new Ritz-Carlton, under construction in downtown Toronto, just went for $13-million to someone in Hong Kong. "Everyone wants a piece of Canada right now," says Tina Amato of Baker Real Estate.
Last month, two projects launched in Toronto -- the Four Seasons and the Shangri-la -- both of them connected to five-star hotels. Within four weeks, both of them were more or less half sold. "I thought it would take nine months to a year to get where we are now," says Hunter Milborne of Sotheby's International Realty, which is marketing the Four Seasons. At $1,200 to $1,400 per square foot for the non-penthouse units, the Four Seasons is setting a new gold standard. "What's amazing," adds Mr. Milborne, "it's the biggest, most expensive units that are selling fastest." [...]
A few years ago, million-dollar apartments were rare in Toronto and other big cities in Canada. No more. A few months ago, former BMO CEO Tony Comper spent $16-million for a Yorkville penthouse, and the penthouse at the new Ritz-Carlton, under construction in downtown Toronto, just went for $13-million to someone in Hong Kong. "Everyone wants a piece of Canada right now," says Tina Amato of Baker Real Estate.
Canuck
Active Member
Didn't a Dubai (prince?) citizen buy one of the penthouses at the Ritz?
urbandreamer
recession proof
I want a penthouse too!
My plan: every Canadian gives me $1 I'll be able to afford a 6 storey penthouse in the Four Seasons.
I would comment that since luxury buildings are selling out so quickly in Toronto (and Canada) the commodities bull market must surely be near the peak of its current cycle and even more so, the real estate market in Toronto is peaking. That's why I'm prepared to wait 2 years before I buy a place in Toronto. For now, I'm looking at cheaper markets to buy a house---Hamilton or Montreal perhaps?
But--go luxury go! The more partially empty (and 90% of the time their residents won't be living in Toronto) "jewel" buildings we have in Toronto, the happier the local construction trades will be!
My plan: every Canadian gives me $1 I'll be able to afford a 6 storey penthouse in the Four Seasons.
I would comment that since luxury buildings are selling out so quickly in Toronto (and Canada) the commodities bull market must surely be near the peak of its current cycle and even more so, the real estate market in Toronto is peaking. That's why I'm prepared to wait 2 years before I buy a place in Toronto. For now, I'm looking at cheaper markets to buy a house---Hamilton or Montreal perhaps?
But--go luxury go! The more partially empty (and 90% of the time their residents won't be living in Toronto) "jewel" buildings we have in Toronto, the happier the local construction trades will be!
dt_toronto_geek
Superstar
I recall reading that on this forum too.
dt_toronto_geek
Superstar
Trump vs. Shangri-la & Four Seasons, once again it proves my belief; location, location, location.
RJR123
Active Member
it's not so much location, location, location as it is tacky, tacky, tacky, Trump. The Ritz is not exactly in the middle of everything (like Four Seasons) but sold quickly. Trump has a tacky brand that appeals to the nouveau-riche and wannabes, whereas the Four Seasons, Shangri-La etc are targeting a different demographic.