Toronto The Well | 174.03m | 46s | RioCan | Hariri Pontarini

RZ12 said:
I think you focusing too much on Wellington side which is the first condo to launch in Spring. 471 Wellington. Of course theres going to be a premium to be on millionaires row. I still go by that the condos on Front Street will be in the high $1100s predication.
Click to expand...
Building F on the Front Street side is the largest and is rental. I can’t imagine the smaller Building D and E on Front going cheaper than Pemberton’s cheapo butcher block at Richmond and Portland. That makes no sense. The Well is a completely different scale of quality.
 
400WellingtonGuy said:
Building F on the Front Street side is the largest and is rental. I can’t imagine the smaller Building D and E on Front going cheaper than Pemberton’s cheapo butcher block at Richmond and Portland. That makes no sense. The Well is a completely different scale of quality.
Click to expand...

I agree. Given what new projects in the area are going for, I can see these going for a premium. I don't think we're going to see average prices here.
 
interchange42 said:
I'm under the impression that F, the tallest one, is rental.

42
Click to expand...

That's correct - Riocan are marketing it on their Riocan living webpage as a rental residence with 584 units

Woodbourne site says they are involved in 3 of the towers totalling 900 units - one would assume they are partnering in Building F as well as 2 of the towers along Wellington.
 
Two shots of some equipment seeming to remove the ramp, level by level.
20190103_161638.jpg
20190103_161629.jpg
 
Last edited:
ChesterCopperpot said:
That's correct - Riocan are marketing it on their Riocan living webpage as a rental residence with 584 units

Woodbourne site says they are involved in 3 of the towers totalling 900 units - one would assume they are partnering in Building F as well as 2 of the towers along Wellington.
Click to expand...

Yes, Woodbourne and RioCan Living are partners on Building F, the tallest residential building, which is on Front St. And yes that is a rental building.
 
400WellingtonGuy said:
Yea, I get they are knockout panels and it is in the planning stages, but the Tridel marketing folks will sure to talk about it, including the ***ahem*** RailDeck Park.

BTW, where are the new stats for each building and do you know which ones are rental? I must of missed it. This is what I have from UT for all residential:

Building A 180
Building B 168
Building C 153
Building D 274
Building E 430
Building F 613
Click to expand...

I looked in the latest Site Plan Application file online, here: http://app.toronto.ca/DevelopmentAp...3504724&isCofASearch=false&isTlabSearch=false

A lot of applications... the main application is under Site Plan Approval 16 269540 STE 20 SA. Here a couple of useful excerpts from the cover letter:

1546611538139.png

...
1546611560692.png
 
Thanks to RonThom for pointing out the new applications submitted before Xmas with updated info. Here is a crude graphic I made up to guide us on residential units at the Well based on the latest applications so that we are all on the same page. It actually has less condo units than I thought at only 758. If I put on my marketing hat, Building E will go first (less desirable east and west elevations), followed by D and then C, all going up in price as the sales progresses. Unless there is a market meltdown in the next 3 months, this will be easy to sell.
TheWell_Res_Stats_Jan2019.jpg
 
400WellingtonGuy said:
Thanks to RonThom for pointing out the new applications submitted before Xmas with updated info. Here is a crude graphic I made up to guide us on residential units at the Well based on the latest applications so that we are all on the same page. It actually has less condo units than I thought at only 758. If I put on my marketing hat, Building E will go first (less desirable east and west elevations), followed by D and then C, all going up in price as the sales progresses. Unless there is a market meltdown in the next 3 months, this will be easy to sell.View attachment 169688
Click to expand...

My heart just sank. Building BOTH A & B is all rentals? Building E is not first for sales.
 
Last edited:
RZ12 said:
My heart just sank. building a & b is all rentals? Wtf? Can confirm Building E is not first for sales.
Click to expand...
Yes, it is disappointing indeed and not new news to us, but I had hoped that with the current market escalation in the last year or so, that perhaps they had changed their mind.
So, which one is first for sales?
 
ADRM said:
Why on earth would one consider rentals undesirable?

We need much more of it.
Click to expand...

Not the kind you think you desire. It's also about the mix on Wellington to purchase, which does not exist. IMO, there should have been only one rental building on Wellington to provide better a mix for purchasers. Why?

Wellington St. W is a desirable place to own a condo and Tridel are only offering on Wellington luxury condos in one building beyond the reach of most. Building C has only 99 units, 3 elevators, a pool (yea,insane for such a small building), a large amenity space for a building of this size (check out the drawings) and the average unit size is +1800 sqft. At $1400/sqft, that will be an average price per unit of $2.5M with common element fees likely just under $1/sqft to support the luxury.

If that is Woodbourne/Tridel's POV for the condos on Wellington, then the rentals on Wellington are likely also going to be luxury rentals to differentiate them from the Front St. rentals. Is that desirable?
 
RZ12 said:
Building B was suppose to be my forever home in the city. Wellington condo is first. Two bedroom plus units only too. 99 units 25% down in one year and move in 2023 makes sense for em to launch it first.
Click to expand...
It is unfortunate. Another RioCan project elsewhere that I was eyeing for myself, I had discovered recently will be 100% rental. :(

On that note, I didn't know that RioCan was into managing the residential rental themselves. I thought they were primarily commercial real estate managers.
 
I wouldn’t be surprised if these rentals, over time, attract an older set a la Manulife at Bay. The Well will have all amenities in one place and the quasi-indoor pedestrian spaces will be easy to navigate for elderly and their caretakers.

The unit mix here will be essential to appeal to a broad range of people and offer something for everyone.
 
WislaHD said:
It is unfortunate. Another RioCan project elsewhere that I was eyeing for myself, I had discovered recently will be 100% rental. :(

On that note, I didn't know that RioCan was into managing the residential rental themselves. I thought they were primarily commercial real estate managers.
Click to expand...

They announced it back in March of 2018 - https://investor.riocan.com/English...-residential-brand-RioCan-Living/default.aspx

There are currently approximately 2,800 units (consisting of approximately 2,100 residential rental units and over 700 condo units) spread between eight RioCan Living projects that are, or will soon be, under construction with the first rental completion scheduled for as early as the first quarter of 2019. Of the projects actively under development, six are in Toronto, one is in Calgary and one is in Ottawa. Each of the eight properties is located along a major public transit corridor, with locations ranging from prominent intersections such as Yonge and Eglinton, and Front and Spadina in Toronto to populous, urban avenues such as College Street, Toronto and existing shopping centres including Gloucester Silver City Shopping Centre, Ottawa and Brentwood Village, Calgary.
Click to expand...
 
You must log in or register to post here.

Back
Top