precondo
New Member
The floorplate actually changes twice. Floor 38 breaks to 8 units a floor, and then floor 55+ is 5 units.
Toronto Pinnacle One Yonge | 345.5m | 105s | Pinnacle | Hariri Pontarini
- Thread starter androiduk
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The floorplate actually changes twice. Floor 38 breaks to 8 units a floor, and then floor 55+ is 5 units.
Not according to the architectural plans posted to the City's website. That would be a huge drop in the number of units available for sale if true, and a much higher percentage of 2 and 3 bedroom units. Do you have a breakdown of the number of 1, 2, and 3 bedroom suites?
42
All of the buildings are typically left in one thread as once the buildings go under construction, people typically upload photos in one thread per project, (unless there's a huge difference in time between phases, or if there's major physical separation owing to a large site.
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precondo
New Member
No, I don't have the overall mix. My assumption would be that the massive 8-storey podium is where those unit numbers are made up for.
What I can tell you for certain is that floors 8-34 are 10 units, 38-55 is 8 units, and 55-64 is 5 units.
Also, on the note of the 'subsidized housing': it's simply 100 rental units to be managed by Pinnacle. The rents will be based on the average of the previous calendar year. These units will have a separate entrance and amenities. My best guess is that they'll be the podium units.
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innsertnamehere
Superstar
^that is what is reflected in the arch plans posted online right now..
The first floor of market units is level 7, meaning the entire podium level is the affordable housing. Condo tower is the only market units. And yes, the affordable housing isn't going to be TCHC. It'll be Pinnacle owned, rented at 80% of CMHC set "market rates", which are actually far below the true market. I think they have a one bed unit at $1,200 or so right now, so a 1 bed unit will rent at around $950.
the tower itself has 497 market rate units, including 5 per floor on 55-65, and 8 per floor on 45-54. Some of the 3 bed units are very large, in the 1,500sf range.
The first floor of market units is level 7, meaning the entire podium level is the affordable housing. Condo tower is the only market units. And yes, the affordable housing isn't going to be TCHC. It'll be Pinnacle owned, rented at 80% of CMHC set "market rates", which are actually far below the true market. I think they have a one bed unit at $1,200 or so right now, so a 1 bed unit will rent at around $950.
the tower itself has 497 market rate units, including 5 per floor on 55-65, and 8 per floor on 45-54. Some of the 3 bed units are very large, in the 1,500sf range.
dracolnyte
Active Member
went to the presentation centre, Pinnacle's sales agent (Janice) said phase 2 will start selling when phase 1 is almost built (2022). even my agent was surprised. will be posting pictures of the finishes shortly
Right, those November plans were newer than what I had. Thanks for catching that!
Sales agents typically know nothing beyond what they are selling right when you're talking to them, or they're unwilling to talk about future releases. All they want you to know about is what's on sale now.
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Automation Gallery
Superstar
Haha, Janice is there to sell phase-1 and not to promote phase-2 when this phase hasn't been sold out
.. with the Toronto condo market still hot i doubt Pinnacle will sit on the next phase for 4 years before sales
AlvinofDiaspar
Moderator
dracolnyte
Active Member
did pinnacle release their sales numbers yet? it's almost been a whole month. also are you allowed to disclose how many units is 70%?
Christopher Brown
Active Member
Same sentiment has been expressed for the last number of years here, yet those who continue to subscribe to this view blindly ignore the supply and demand dynamics of our Country, the Province, the GTA and more to the point today, downtown Toronto.
300,000 + newcomers entering Canada every year. 100,000 come into the GTA. Wave after wave of immigrants over the past 1o0 + years have all wanted to own their home. It's in their DNA.
Over the time prices have consistently increased, with a few temporary dips sprinkled throughout. Across the vertical residential market downtown where the new supply has flourished, prices have risen 50% in the last few years. So, extrapolate. But even if prices moderate or stay flat, bottom line is after 25 years you have a paid-for roof over your head. You have tax free equity.
Wish my folks had bought and held onto 3 or 4 Etobicoke bungalows instead of one back in 1963 in the middle of nowhere. Cause I'd be rich today. None of the parents on our entire street had been born in Canada. Their grandchildren were.
Brand spanking new, 3 bedroom, one bathroom, double brick, over 1,000 sq. ft. main floor, unfinished basement. $16,500.00 back then. Same price as decent living room furniture today.
innsertnamehere
Superstar
GTA growth numbers have dropped to around 60,000 annually for the last little bit.
Automation Gallery
Superstar
Haha nice price, but then again someone in 55 years could be saying the same about a $500.000, 500 sq. ft. condominium today
maestro
Senior Member
We've gone through condo booms and busts all the while having pretty stable migration figures.
Guaranteed most of these units were picked up by entities rather than people and not for short term flips. (of course, some will) They will try renting long term and short term and, if that doesn't work, they'll just let them sit empty.
Guaranteed most of these units were picked up by entities rather than people and not for short term flips. (of course, some will) They will try renting long term and short term and, if that doesn't work, they'll just let them sit empty.
Softee
Active Member
Not according to the latest statcan estimates, it's back up to well over 100,000. http://www5.statcan.gc.ca/cansim/a2...&stByVal=1&p1=1&p2=31&tabMode=dataTable&csid=