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Lakeside Residences | 157m | 49s | Greenland | Hariri Pontarini

TheSix

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"Construction starting soon", but I wonder when exactly?

The incentives really sounds like sales has been struggling (parking available for ALL suites, one year free maintenance, etc.). I don't think any other development in the core has offered these types of deep discounts. Especially units with lake views.

194208
 

dryang

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Yeah it does seem a bit pushy.

It's only a "view of the lake" if you get a unit high enough above the Tridel building South of it.
 

Star Fox

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I visited the sales centre recently and they said they've been told they need to vacate in a month, so presumably demolition will start around August. They also said when construction would start, but I can't remember exactly (it was somewhere around late 2019 or early 2020).

This one certainly has been in presale for a long time. One could assume it therefore hasn't been selling as hot as, for example, Sugar Wharf Phase 1, but pretty sure "one year free maintenance" is relatively common and the parking stuff might just mean not many 2+ bed purchasers wanted a parking spot.
 

dryang

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The proximity to Google City is supposed to be the main selling point with this one. There hasn't been a ton of buzz around any of this lately, which does not help for them. They are waiting for some permits too, I think.

A lot builders have the presentation centre off site.

Earlier someone mentioned "10% in the first year". While this offer was marketed that way, it was in fact 10% in 365 days with the next 5% slice the next day. So more like 15%. Nothing like Tridel's crazy 20-25% in year 1 stuff though.
 

SkyCloudJC

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Public transit has always been and is going to be the biggest problem for all Queens Quay East buildings. For a psf price of $1100+, 20 mins walking distance to Union Station is not that attractive.

Seriously, knock down the Gardiner and build a waterfront LRT, you will have a new downtown over there.
 

TheSix

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It seems the further east you go on the Queens Quay the less desirable it gets?.. remember Monde took forever to sell
You might be right. However, sales for Tridel have been exceptional (and the psf is higher). All four of their buildings are located further east. But I guess that's the difference when a building is against a major highway vs. against the water's edge. I'm sure the reputation of the builders is also a key factor (Greenland is pretty new to TO).
 

dryang

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There’s also supposed to be a Sherbourne subway popping up near there. Subway stations are great for increasing condo value.
 

innsertnamehere

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There’s also supposed to be a Sherbourne subway popping up near there. Subway stations are great for increasing condo value.
sure, a kilometre away. It's like saying The Globe And Mail Centre on King East is close to the subway today.. it isn't really. Methinks "subway adjacent" is realtor speak.

Tridel sold better because it's right on the water and they sold them as luxury units with high parking ratios, so lack of transit didn't matter. This building is more "affordable" and doesn't have nearly as much parking so transit access (or rather the lack of it) is more important, plus the buildings are super dense resulting in a lot of overlook issues, very expensive, and a developer that isn't super experienced.
 

Star Fox

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In fairness, I believe that Lakeside involves a lot more units than any of the Tridel buildings (maybe even all of them combined?) or Monde - I'm only eyeballing it, but it seems like it's essentially two Monde's in size (two buildings of approx. same size as Monde). It should add a lot of density to the area, which is exciting.
 

SkyCloudJC

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Why not just built the LRT? The Gardiner isn't a detractor judging by Southcore.

Reads like a kneejerk hate of the expressway..
Because Toronto is spending over $3 billion just to repair 1.7 km of Gardiner Expressway, while the cost of building waterfront LRT is about $1.9 - $2.3 billion (currently unfunded).

In fact, Gardiner alone accounts for 53% of Toronto's transportation repair budget this year.

Not to mention it segregates the south core, creates pollution, takes away a large portion of prime land in the downtown core.

There are just so much for me to hate and nothing for me to love, sorry.
 

innsertnamehere

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Because Toronto is spending over $3 billion just to repair 1.7 km of Gardiner Expressway, while the cost of building waterfront LRT is about $1.9 - $2.3 billion (currently unfunded).

In fact, Gardiner alone accounts for 53% of Toronto's transportation repair budget this year.

Not to mention it segregates the south core, creates pollution, takes away a large portion of prime land in the downtown core.

There are just so much for me to hate and nothing for me to love, sorry.
What? No it’s not. The $3 billion is for the next 30 years of maintenance on the entire DVP and gardiner.

The actual elevated rebuild is $1 billion. And the demolition option wouldn’t have been $0, but rather $600 million. The incremental cost to keeping it is “only” $400 million.

Make of that as you will. But don’t go throwing out blatantly wrong facts about it.

And yea it’s a huge portion of this years maintenance budget because it’s in the midst of the reconstruction. It’s not like every year it accounts for 53%. Give it 4 years when the construction will be done and it’ll be down to 2% or something.
 

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