Mirvish is 'the little guy'? Is that a joke? As for the other person cited, doesn't the project's unorthodox track record speak for itself?
I apologize LMVDR in not being clear. When I meant ‘little guy’ It was in the context of tower development, not fields like theatre. Eg Mirvish would be a ‘little guy’ compared to Oxford Development etc. I’m typing on an iPhone and didn’t make that explicit.
I believe you are incorrect. Mirvish had intended to secure the financing, was unable, after a longish delay he sold to GG. This is fine, but not what you said. My point was Mirvish is the little guy who thought big, I admire that greatly!Mirvish did things the conventional way and by all accounts appears to be reaping the enormous benefits that flow from that sound approach. He partnered with an extremely reputable and experienced developer and the project will very likely be successful.
The comparison you’ve drawn to this project is faulty.
If you read the previous post #6,701 on page 447 you will get the answer 75% soldReminiscent of Bay Adelaide (the stump 1990), don't you think? Except this is a condo tower and demand is theoretically high.
It has to be a financial issue. Does anyone actually know if they achieved 60% solds?
No developer would allow this to happen - the optics are just shy of catastrophic. It'll be pretty tough for him to be taken seriously again if he doesn't fix this soon.
If you read the previous post #6,701 on page 447 you will get the answer 75% sold
When Trump originally tried to build an ultra luxury building here, he was unable to find enough buyers for what he was selling. They ultimately shortened the building and altered the floor plans to make the units smaller and more affordable. You know, more Canadian.
Perhaps there is some redesign underway to help sell the balance of the building?