Mike in TO
Senior Member
No doubt 1BE is still in the earliest stages of design and what we've seen so far will likely bear little-to-no resemblance to the final building.
You're right that they're pushing this design hard - given the site's recent history and the tremendous interest still shown by the public like on this forum, they want to capitalize (in every sense) on the hype. But I think they also know that people will invest in this building without certainty in the product they're buying. This is one of the few cases where people want in on the action even if they do not know what the 'action' is. Sell first, design and refine later: why wouldn't they take advantage of the tens of millions of dollars people have already once lined up to give a developer of this site? Why wouldn't they take advantage of their solid reputations as a legitimate and successful builder?
The problem is what you are suggesting isn't practical from a developer perspective (substantially increases risk), and presents issues under the condo act (refer to "material change" clauses). Yes refinements occur throughout the development process. But most of the larger details in terms of design must be sorted out prior to the building going to market. The shape of the building may go through some minor adjustments, but the floor-plate must the established (not perfectly, but close to it) in order for the core services, HVAC and plumbing stacks to be sorted out and the unit layouts designed. Beyond planning requirements, without certain thresholds being met none of the units can be enroled with the Tarion Warranty Corporation meaning no sales can take place. Furthermore no developer is going to substantially redesign units and risk material changes to contracts that allow for purchasers to walk away. This would constitute very serious risks in a project of this magniture that the development partners and financers would seek to avoid at all costs. Lastly the development proponent has a very good reputation and it's not within their general business practice to jerk around their clients.
I'm not suggesting changes aren't going to be made - but I don't see anything major or substantial occuring. That said the only posted renderings have been at odd angles and very 'artistic' vs being realistic. The proposal isn't exactly clear cut in terms of what it's going to look like at this point.
Why would GGH feel they have anything to lose in going to market with a design far more preliminary than would be typical?
Because they would never get financing for a project where all the purchasers and deposits could walk away.
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