Toronto St Regis Toronto Hotel and Residences | 281.93m | 58s | JFC Capital | Zeidler

If I could afford it, I would jump in there. One thing Trump doesn't hold back on is luxury. This place is going to be decked out. Unfortunately it is beyond my budget. I'm sure they aren't too concerned. There is a big market for foreign buyers for luxury units like this. I would be quite surprised if they were not able to sell 100%. And hey if they don't, I'll take one at 30% off (I don't think that ever happens).
 
May 16

Bay and Adelaide
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Looking north on Bay St.
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Looking east from Bay St.
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Looking west towards Bay St.
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May 8:
The site is looking a lot better than it did on May 8, looking east from Bay St.
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Old Boiler Graveyard on May 8.
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Looking north to Adelaide on May 8.
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Going on what Eb Z. has to say, I'm hoping for a religious experience of sorts.



Does anyone know if the rendering shown above takes into account the reduction in height?
 
InTheKnow07 said:
$1400 per sq. ft. on the newly released inventory. Starting point is $1.8M for smallest unit
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Why anyone in their right mind (let alone anyone with $1.8M buying capacity) would voluntarily elect to spend $1400/s/f to live or own a residence at Bay and Adelaide is extremely perplexing to me.

The Trump Organization's name and reputation is being tarnished across North America for its inability to deliver product as advertised. Check closely with the Tampa, and Las Vegas purchasers to see if they are in fact satisfied customers.

My prediction is that this project gets completed but drops the franchise from its name in favor of something more subtle yet appealing to the local crowd.
 
urbantor said:
Why anyone in their right mind (let alone anyone with $1.8M buying capacity) would voluntarily elect to spend $1400/s/f to live or own a residence at Bay and Adelaide is extremely perplexing to me.

The Trump Organization's name and reputation is being tarnished across North America for its inability to deliver product as advertised. Check closely with the Tampa, and Las Vegas purchasers to see if they are in fact satisfied customers.

My prediction is that this project gets completed but drops the franchise from its name in favor of something more subtle yet appealing to the local crowd.
Click to expand...

Well this building in itself might all of a sudden make the area a more appealing one to live in...

But really I think it must just be a ton of foreign investors, or even people who just don't know downtown toronto very well. I'm willing to bet that 90+% of people outside Toronto itself, but within the GTA, think that would be a great area to live in... amongst all the skyscrapers.
 
I think you are right. Of all buildings going up presently, this one would probably be the most likely to be overwhelmingly bought up by foreign investment.

Given the real estate situation in Tampa and Las Vegas, Toronto must look like a very healthy investment right now.
 
Hydrogen said:
I think you are right. Of all buildings going up presently, this one would probably be the most likely to be overwhelmingly bought up by foreign investment.

Given the real estate situation in Tampa and Las Vegas, Toronto must look like a very healthy investment right now.
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Perhaps Hydrogen, but I suspect that anyone who bought a unit here for investment purposes at over $1,000/s/f may be feeling just a little nervous about whether such a price point is really sustainable. Certainly the high-end rental market will no where near justify such lofty valuations. Permanent residents or vacation property owners (are there any here really?) get to consume the amenities but investors will very likely end up feeding theirs in perpetuity. Not a healthy recipe for sustainable prices and not substantially different from the situation in Las Vegas.
 
urbantor said:
Perhaps Hydrogen, but I suspect that anyone who bought a unit here for investment purposes at over $1,000/s/f may be feeling just a little nervous about whether such a price point is really sustainable. Certainly the high-end rental market will no where near justify such lofty valuations. Permanent residents or vacation property owners (are there any here really?) get to consume the amenities but investors will very likely end up feeding theirs in perpetuity. Not a healthy recipe for sustainable prices and not substantially different from the situation in Las Vegas.
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This guy sounds familiar......

hmm....
 
urbantor said:
Perhaps Hydrogen, but I suspect that anyone who bought a unit here for investment purposes at over $1,000/s/f may be feeling just a little nervous about whether such a price point is really sustainable. Certainly the high-end rental market will no where near justify such lofty valuations. Permanent residents or vacation property owners (are there any here really?) get to consume the amenities but investors will very likely end up feeding theirs in perpetuity. Not a healthy recipe for sustainable prices and not substantially different from the situation in Las Vegas.
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Oh, I'm inclined to agree with your perspective. Investors in this building better be prepared for a "buy and hold" strategy in Toronto. My only quibble would be that the high end markets in Florida and Nevada have yet to bottom out. That may take until the end of 2010. They are really in a league of their own. Concerning the purchase of a high-end property in Toronto right now, it better be purchased because the buyer likes it or wants to live in it. As in investment it would be a bad idea. The market has probably crested (finally) here.
 
urbantor said:
Why anyone in their right mind (let alone anyone with $1.8M buying capacity) would voluntarily elect to spend $1400/s/f to live or own a residence at Bay and Adelaide is extremely perplexing to me.

The Trump Organization's name and reputation is being tarnished across North America for its inability to deliver product as advertised. Check closely with the Tampa, and Las Vegas purchasers to see if they are in fact satisfied customers.

My prediction is that this project gets completed but drops the franchise from its name in favor of something more subtle yet appealing to the local crowd.
Click to expand...

Over a third of the buyers are from the local area. When Trump was first announced, everyone said that this market would never pay $600 per sq ft for a property. The interesting thing about that statement is that every new market says the same thing before Trump enters it and proves them wrong. Make sure when you state your facts about Trump, you are referring to "Trump" initiated projects as many of them are developed by partners such as the Toronto one. Las Vegas, by the way, is very successful. As long as you have the right product and location, people are willing to pay for it. The bottom line is that contruction of this nature is probably $600 per sq. foot just to break even based on the high cost of construction materials. They are selling units for $1400 per sq. ft. now and I would fully expect that to be $1800 or more per sq. ft. when the building is near completion. I doubt anyone who paid $1000 per sq. ft. to be complaining to much when that happens.

As I have said before, Trump has a 10 year contract to manage this hotel/condo so that is not even a possibility that Talon would switch horses. In fact, if it were not for the "Trump" name, I doubt this building would have ever been built because his name alone draws in investors.

Some other poster asked why I have not invested in other buildings in the Toronto area. My response to that is this: Is Trump building another building in Toronto? :)
 
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