This isn't new news. The assignment market is a shambles. The recent string of condos failing to launch is solid proof that the flippers are either drowning or sitting on the bleachers.
I think one could argue that real estate plays an oversized role in the Canadian economy and diminishing that role is a positive thing, generally.
You are correct, Harry and David Mirvish lost a fortune, but as an original and current owner of a suite in One King, I can tell you it has turned into a fabulous investment. The crazy part is that I am a pre-construction buyer in the One as well. I must be a curse to developers lol. I hope they honour our contracts because I am quite comfortable with the price I paid 6 years ago, even in this current downturn. Getting back to the purpose of this forum, watching and following our great City rise, I believe this building will be completed, there is no turning back. It is all about minimizing losses for lenders at this point.
Off-topically: To be fair, this is more of an analyses than news. That is, it's more of a summery of events that maybe trending towards something. There's nothing wrong with that...I just wish ToStar, et al would label it more as such.
So deck by end of day tomorrow 2 days of rebar and pour Friday moving right along
Only since the beginning of October...