Toronto INDX Condos | 178.6m | 54s | Lifetime | P + S / IBI

DSC said:
The Graphic Arts Building is a condominium (lofts and offices) so I doubt strongly that it has been sold.
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Sorry i wasnt aware..I thought this building was to be part of the development.

androiduk said:
Graphic Arts Building, Richmond & Sheppard St.

graphic.jpg
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yyzer said:
looks like maybe this tower won't be happening after all, at least how we thought it would.....

Mishorim, ILD unit sell Toronto lot for NIS 140m

Skyline bought the 1,200-square meter lot in downtown Toronto for C$29.1 million/
1 May 11 14:52, Avi Shauly

Skyline Investments Inc., a Canadian real estate joint venture of Mishorim Development Ltd. (TASE:MSHR) and Israel Land Development Company (TASE: ILDC) has sold the lot in Toronto zoned for the development of the Skyline Tower office and hotel project for C$39 million (NIS 140.4 million).
Skyline bought the 1,200-square meter lot in downtown Toronto for C$29.1 million (NIS 86.8 million) in January 2008. The lot was originally zoned for a 42,000-square meter building, which was later increased to 59,000 square meters.

Mishorim, controlled by chairman Gil Blutrich, owns 66.35% of Skyline, and Israel Land, controlled by chairman Ofer Nimrodi, controls the rest. Mishorim will not report a capital gain on the sale, as it books it the value similar to the sale price. Skyline, however, will report a surplus cash of C$26 million (NIS 93.6 million) on the sale, half of which will be used to repay the mortgage on the land.

Mishorim's share price fell 0.4% by mid-afternoon today to NIS 9.46, giving a market cap of NIS 228 million, and Israel Land's share price fell 3% to NIS 32.22, giving a market cap of NIS 920 million.

http://www.globes.co.il/serveen/globes/docview.asp?did=1000641788&fid=1124
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thats a relief, i didn't dig that design, hopefully something really ultra modern and cool will be designed!
 
Hey wouldnt that be something, if Harry Stinson with of course a loan from Doug Ford bought that land back and asked his old pal Rob Ford to get that Sapphire Tower back on track..LOL:D
 
gabe said:
ah dammit i wanted a W hotel waaaa :(
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I found this website but its in hebrew and cant understand it, but i believe it was going to be a Nobu Hotel...Oh by the way, the video on the website clearly shows that the Graphics Art building was included in this development. Anyways i hope who ever purchased this property builds something similar or better.

http://www.mishorim.com/he-SkylineTower.aspx
 
For the last time: the Graphic Arts building was going to be mimicked by a new building next door, which was the podium for the new tower.

The Graphic Arts building, though similar to this new podium, was not part of that new tower.
 
SP!RE said:
For the last time: the Graphic Arts building was going to be mimicked by a new building next door, which was the podium for the new tower.

The Graphic Arts building, though similar to this new podium, was not part of that new tower.
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Right on Spire..I did say included so i assume owned by the same people.
 
Automation Gallery said:
Right on Spire..I did say included so i assume owned by the same people.
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Oh jeeeez...how could the Graphic Arts Building be "owned by the same people"?????? The Graphic Arts Building is a CONDO as has been stated several times. You know, with several units, owned by several different people. As Spire stated, the GA Building was going to be mimicked. The developer/buyer would have some pretty deep pockets to buy out an entire condo building only to keep it as is.
 
OK so Canada Tower (hokey name) and the office building at Delta, (Southcore) are both out of the mix - do I smell a trend? or is that just my burrito lunch?
 
Big Daddy said:
OK so Canada Tower (hokey name) and the office building at Delta, (Southcore) are both out of the mix - do I smell a trend? or is that just my burrito lunch?
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I must have missed that, is southcore not happening now? I thought that was all under construction.
 
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