Toronto Hotel X (was Hotel in the Garden) | ?m | 27s | Exhibition Place | NORR

[junctionist]

What happens to this building and the Exhibition Grounds if a 400 room four star hotel operation does not succeed, the developer disappears and a hotel use is determined to be not financially viable?

It'll be a spectacular implosion. We haven't had one in a while.

 

[taal]

It's hard not seeing this hotel being a success ... but I can see it going through a lot of lulls ... that is periods of 100% occupancy and others of a much lower amount. There are many many conventions on this site, and not 1 nearby hotel, add to that the many public conventions so to speak (e.g. living shows / weddding shows / ...) then add the major events (i.e. ex / caribana / even mls games).

The redevelopment of ontario place into something other then a park, assuming that happens, will help too.

 

[TOareaFan]

It’s clear that the design and functional program of this development is not favored by a majority of UT posters. This hotel likely has an over $200 million price tag. Hotels top the risk list of real estate investments. The success of a hotel is inherently uncertain. They have stringent construction financing requirements. Financing is difficult to secure, if at all, and costly when it is available.
Questions: Is the hotel group putting up all the money and is the City of Toronto guaranteeing this success?

Financing was provided/arranged....by Toronto based www.rompsen.com

 

[AllThingsUrban]

Financing was provided/arranged....by Toronto based www.rompsen.com

Not Romspen. Their portfolio is available online. http://www.romspen.com/Portfolio/portfolio.pdf

Who than?

 

[TOareaFan]

Not Romspen. Their portfolio is available online. http://www.romspen.com/Portfolio/portfolio.pdf

Who than?

Romspen act, at different times, as a lender and a broker. That is why i said "provided/arranged". There are lots of "secondary" real estate finance guys who act in this fashion. The large sign they have placed on the lakeshore fence in front of the project tells us they definitely arranged the financing....whether they did so on their own or brokered the deal that is less clear.

 

[someMidTowner]

Today:

 

[Torontovibe]

Finally, some pictures of this development. I've been very curious about the massing, placement and look of this building but no one ever posts pics of this. I'm sure this will have a huge impact on the CNE and even Ontario Place, which happily, is moving foreword. This building should really change the classic view of Toronto's skyline, looking over Ontario Place towards the core. Thanks for the pics.

 

[josephdavidmckee]

http://www.libraryhotelcollection.com/#hotelxtoronto

There are some renders here of the interiors from the Hotel Group's website. I can't tell whether the decor is going to be outrageous, or if that's just the Sims-esque graphics.

 

[DowntownTO]

http://www.libraryhotelcollection.com/#hotelxtoronto

There are some renders here of the interiors from the Hotel Group's website. I can't tell whether the decor is going to be outrageous, or if that's just the Sims-esque graphics.

Good grief! These renderings are so incredibly bad I'm at a loss for words. You're right, it actually looks like something a kid designed in The Simsâ„¢. They should be absolutely embarrassed.

 

[interchange42]

They're not selling any condos here, so they've spent far less on these than would be typically shelled out on high-quality marketing renderings. Those things aren't cheap (like these are!).

42

 

[AllThingsUrban]

Terrible renderings for a $200 million project, irrespective that there are no condo's. However the developer is not accountable to anyone. This project was not subject to any City design review process, rather only a modified Site Plan Approval.

Good grief! These renderings are so incredibly bad I'm at a loss for words. You're right, it actually looks like something a kid designed in The Sims™. They should be absolutely embarrassed.

 

[interchange42]

Earlier today:

42

 

[kram74]

 

[Big Daddy]

What happens to this building and the Exhibition Grounds if a 400 room four star hotel operation does not succeed, the developer disappears and a hotel use is determined to be not financially viable?

then they will sell the rooms as oversized, over priced condos - there is no risk.



besides, it will likely have quite a number of Raptor try-outs and their entourage at any given time.

 

[W. K. Lis]

then they will sell the rooms as oversized, over priced condos - there is no risk.



besides, it will likely have quite a number of Raptor try-outs and their entourage at any given time.

Return the land to its original use. Military garrison grounds. In other words, a very nice armed forces barracks.