Toronto Monde | 149.95m | 44s | Great Gulf | Moshe Safdie

This is Lakeshore just west of Parliament. Is this the right thread for this?


Application: Building Additions/Alterations Status: Not Started

Location: 291 LAKE SHORE BLVD E
TORONTO ON M5A 1B9

Ward 28: Toronto Centre-Rosedale



Application#: 12 139500 BLD 00 BA Accepted Date: Mar 20, 2012

Project: Other Interior Alterations

Description: This is for interior alterations to the ground floor for a new model suite for the future condominium building.
 
It used to be developers would set aside a year or 18 months for sales to hit the point where they could close down the sales office and start to dig. Developers got "spoiled" the last while with projects selling out in a day, a weekend etc. As prices have crept up, those days are almost done. Developers are going to actually have to compete with each other for sales.

Slower sales can turn out to be a benefit as it will add more end users and less "flippers".
 
the fact is that this will be the largest condo in the east bayfront, and it is the first one to go on sale. it takes time to sell hundreds of units in a highrise that sits in a field. even if there are great promises that the said fields will eventually turn into a great neighborhood, i am sure many buyers are still weary of that fact.
 
Waterfront Toronto should have started Bayside North (is that it's name?) - the swath of land between The Gardiner and Lakeshore Boulevard, next to Monde - simultaneously with Bayside proper, or at least at the same time Monde was released. That, or pushed for FedEx's relocation across the street and had something going there too, by now.
Despite George Brown coming into completion and Corus, the building is perceived as too isolated.

The long-promised LRT line eastward (wasn't it supposed to be under construction by now?) and the Queen's Quay full rejuvenation here wouldn't have hurt either.
 
I just checked out the model suite at Monde today. It looks quite nice. Good quality appliances, nice fixtures in the bathrooms, good design aesthetic. They are having some extra incentives for purchasers right now to try to jolt sales, nothing too dramatic, just some cash discounts ($10-15K) off suites and they have lowered their deposit structure from 25% to 20%. I would say though that if they don't do something dramatic it will take them a very very long time to sell the several hundred remaining suites they have. This is a project that is on my radar screen as being in the 'danger zone'...I hope it does get built on schedule though as it's a beautiful building.
 
CanadianNational said:
Waterfront Toronto should have started Bayside North (is that it's name?) - the swath of land between The Gardiner and Lakeshore Boulevard, next to Monde - simultaneously with Bayside proper, or at least at the same time Monde was released. That, or pushed for FedEx's relocation across the street and had something going there too, by now.
Despite George Brown coming into completion and Corus, the building is perceived as too isolated.

The long-promised LRT line eastward (wasn't it supposed to be under construction by now?) and the Queen's Quay full rejuvenation here wouldn't have hurt either.
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The land where FedEx etc are (between Jarvis and Sherbourne) on the north side of Queen's Quay is privately owned so there's not much WT can do to encourage development except to get its own land developed and "set the example".This they are doing.
I could not agree more about the LRT line on Queen's Quay - it's crazy it is still not funded. WT has a consultant looking at it again and I hear ther will be a public meeting on it in next month or so. Much as I like the area and the new buildings look promising I would not buy there without proper public transit - I have heard that Hines (who have the huge parcel of land just west of parliament beside Sherbourne Common) are not pleased that the LRT is not underway, they think they cannot sell office space without it.
 
alafleur said:
I would say though that if they don't do something dramatic it will take them a very very long time to sell the several hundred remaining suites they have. This is a project that is on my radar screen as being in the 'danger zone'...I hope it does get built on schedule though as it's a beautiful building.
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I couldn't disagree with you more... with this being part of a master planned City of Toronto project it is very safe.
I think people don't understand the value there is in the podium units here. The tower units are $100/sgft more than the podium but it is justifiable as you get a guaranteed for ever lake view and a lot of windows.
With the podium units being $100/sqft less it may just be the best value for this area of Toronto. The podium prices are very similar to recent launched projects like Canary District and Rivercity and at Monde you get better location, better finishes, better design, better architecture, better builder, better quality of living neighbourhood, better amenities, tons of retail at ground floor.... and when completed a building with end users.

This will surely sell out.

Very smart investors are buying here right now.
 
alafleur said:
I just checked out the model suite at Monde today. It looks quite nice. Good quality appliances, nice fixtures in the bathrooms, good design aesthetic. They are having some extra incentives for purchasers right now to try to jolt sales, nothing too dramatic, just some cash discounts ($10-15K) off suites and they have lowered their deposit structure from 25% to 20%. I would say though that if they don't do something dramatic it will take them a very very long time to sell the several hundred remaining suites they have. This is a project that is on my radar screen as being in the 'danger zone'...I hope it does get built on schedule though as it's a beautiful building.
Click to expand...


The time lines dont match up but were you referring to Monde with this tweet May 28?

Just went to the sales centre of a major new development that has been selling for 6+ months and is only 40% sold. #uhoh
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Southcore said:
The time lines dont match up but were you referring to Monde with this tweet May 28?
Click to expand...

Why doesn't it match up its been sales for 6 months now ?
 
Sorry, I should have been more clear. I meant the timing of Andrew's posts (i.e. he posted here he went to Monde's sales center two days ago, but the tweet was from May 28).

I just wanted to hear it from the man himself but it's safe to say we can put two and two together to realize this is the project that he is in fact talking about and they are struggling to move units.
 
Gotcha,

We do need to keep in mind this is a giant project in terms of the sheer number of units. 40% sold isn't too bad if that is in fact where they are, potentially another 6 months and they'll reach the 70% point in 1 year. That used to be pretty commonplace.
 
what is the retail possibility for monde? can anyone speculate what the retail experience would be like when completed?
from a visit to the sales centre, i learned there is huge amounts a retail space.
 
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