Toronto Minto775 King West | ?m | 17s | Minto Group | Hariri Pontarini

Hydrogen said:
Is it a condo? A rental?
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Couldn't possibly make financial sense as a rental today. Figure $280 per square foot cost to build and max $2 gross rent per month/$1.2 net per month on $280 per square foot is less than a 5% return. Those kinds of numbers are only suitable for the sucker-specuvestor crowd, not the brain trust at Mighty Minto.

I don't blame them for spec'ing this project though. They've got the financial strength to get high leverage construction financing. Why fix revenue today for something that won't be completed for 36 months minimum if you don't have to, particularly in this hot area? Worst case they carry it as a rental for a short while.
 
Yes, I admit the error. I meant to say just over 5%. No developer would break ground on a project for a 5% return. That is ridiculous. If you believe otherwise then you are mistaken.
 
Hydrogen said:
You speak for all developers?
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Cool your jets Nitrogen. I'm simply saying that they wouldn't be putting up a rental building there until there are extenuating circumstances unbeknownst to the general public. They may have owned the property for 20 years, or are building on behalf of an institution or there may be some other explanation. The logical thought is that this is a condo building. Minto is a reputable and super successful canadian developer. They are not fools, unlike some other unmentionables.

Time will tell.
 
investor said:
Cool your jets Nitrogen. I'm simply saying that they wouldn't be putting up a rental building there until there are extenuating circumstances unbeknownst to the general public. They may have owned the property for 20 years, or are building on behalf of an institution or there may be some other explanation. The logical thought is that this is a condo building. Minto is a reputable and super successful canadian developer. They are not fools, unlike some other unmentionables.

Time will tell.
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No problem injector. ;)


Hydrogen is little better for jets than nitrogen. The injector thing is a reference to fuel injector. I'm sure you got the witty reference, though.
 
King Street is filling in rather nicely, now we just need something at the south east corner of Spadina...
 
^Do you mean something with a few floors of retail, a nice facade that meets the street, and possible a handsome condo or office up above. That'd be nice on the location you mention.
 
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