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Pinnacle One Yonge 
1 Yonge St, Toronto
Developer: Pinnacle International

Pinnacle One Yonge | 307m | 95s | Pinnacle | Hariri Pontarini | Page 157

Discussion in 'Buildings' started by androiduk, Sep 8, 2011.

  1. amnesiajune

    amnesiajune Senior Member

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    Public transit and railway access isn't much of a consideration when you're spending seven figures on an apartment. Compared to 1 Bloor West, the project does have the same prestige but doesn't have the fancy shopping and restaurant scene nearby.
     

  2. ADRM

    ADRM Senior Member

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    That's a terribly outdated and ignorant trope. Rich people take the subway and ride the UPX.

    Also, I don't think the prestige is anywhere near comparable -- both the architect and location of 1BW hold value that this development cannot match.
     
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  3. amnesiajune

    amnesiajune Senior Member

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    Not when they're that rich. Why do you think the Yorkville Mall doesn't want bike lanes in front of their businesses? It's certainly not for street parking or deliveries - the whole area is a no-stopping zone.

    That's true, but rich people still love having an address and a spot in a skyline that they can brag about. There's a reason why people rent mailboxes with Queen Street, King Street and Yonge Street addresses on them (and for the same reason, you can sell phone numbers with certain area codes, especially if the next three numbers are also prestigious).
     
  4. ADRM

    ADRM Senior Member

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    The curbside design preferences of a BIA is a peculiar proxy for transit usage.

    Rich people take transit and it's not really up for debate.
     
  5. amnesiajune

    amnesiajune Senior Member

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    Rich people take transit. Really rich people (i.e. the ones who spend seven figures on a one bedroom + den apartment) don't.
     
  6. someMidTowner

    someMidTowner ¯\_(ツ)_/¯ Staff Member

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  7. innsertnamehere

    innsertnamehere Superstar

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    If money is no object, driving is most of the time the better option. Very rarely transit is better, and these "very rich people" will take it, but the 1% will generally drive for the majority of their destinations. When you have deep pits of money, time becomes the most important currency - and driving almost always takes less of it.
     
  8. DonValleyRainbow

    DonValleyRainbow Senior Member

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    Without touching that at the local transit level (i'll leave it to others), my point is really rich people may be more likely to take trips to the capital (Ottawa) and travel or do business (inter)nationally on a regular basis. Union offers a fairly fast and decent business class trip on a VIA train to Ottawa, as well as a convenient train ride to the airport.

    It's one factor, but couple that proximity with stunning waterfront views and proximity to other major firms in downtown.

    Anyway, I've put my chips down. Anyone else in?
     
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  9. dracolnyte

    dracolnyte New Member

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    that is true, I have a friend who owns a house next to Eglinton station, never used it before. only bought that house for the prestige of the area. Still drives his fancy German car downtown every day for work
     
  10. interchange42

    interchange42 Administrator Staff Member

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    Driving to work everyday to a place where there is good transit is definitely the way to go if you want to put on weight, get out of shape, pollute the air, have a much better chance of injuring others, and spend more. It's win, win, win, win, win!

    42
     
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  11. maestro

    maestro Senior Member

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    **shakeshead

    Depends where you live. I've driven before. Saved an hour every day for only about $4 more. I didn't get fat or hurt anyone during that time. So I burned a couple litres of gas per day. I saw much more waste at the office by people that claimed to be green thinkers. I do know people from Rosedale and Forest Hill that drive everyday even though it is usually slower than transit and more costly (parked right in the core instead of seeking out cheap Green P parking nearby.) That said, the subway is an uncomfortable sardine can. You may have to let a few trains pass making it a slower commute as well.
     
  12. jaybe

    jaybe Active Member

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    Huh? $1M+ on a condo does not mean someone is rich. It quite likely means the opposite. At $1200 per square foot that person would own a 830 square foot condo, which is not my idea of spacious or luxurious. They will pay a boat-load in condo fees and if relatively new to the real-estate market, they will likely hold a mortgage. Owners of $1M condos in Toronto are likely to be slightly above the average earner rather than rich. They won't be living a life of chauffeured limosines...
     
  13. innsertnamehere

    innsertnamehere Superstar

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    I got something to tell you if you think a $1 million, 800sf condo is "slightly above average"..
     
  14. jaybe

    jaybe Active Member

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    To clarify, the owners of that condo will be wealthier than average. They are not going to be so rich that public transit is beneath them.
     
  15. amnesiajune

    amnesiajune Senior Member

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    $1M+ on a condo doesn't mean you're rich. $1M+ on the same condo that costs half as much in another building nearby does.
     

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