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

[Midtown Urbanist]

Wait people are complaining about rental housing being built? Sorry, we really need it. You know there are people out there who don't have the ridiculous amounts of money needed to buy...? Most people.

I think we were commenting purely out of self-interest on specific projects we were looking at personally.

Overall, more rental is good for the market. My parents were immigrants, I spent my childhood in a rental apartment. Believe me, I understand the need for them.

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

Ah, thanks for this. That explains it.

 

[concrete_and_light]

I think we were commenting purely out of self-interest on specific projects we were looking at personally.

Overall, more rental is good for the market. My parents were immigrants, I spent my childhood in a rental apartment. Believe me, I understand the need for them.

Very fair. Sorry for the kinda intense tone on my part. The rental situation in this city is really bad and I was overreacting here where I shouldn't have.

 

[Auraz]

Wait people are complaining about rental housing being built? Sorry, we really need it. You know there are people out there who don't have the ridiculous amounts of money needed to buy...? Most people.

Yeah can they afford to pay Minimum $6 SF/Monthly Rent that will be charged here. No one wins but Riocan.

 

[concrete_and_light]

Yeah can they afford to pay Minimum $6 SF/Monthly Rent that will be charged here. No one wins but Riocan.

I think this is a good point, but also I think in general high-end rental being built is better than condo. There's still a lot of people who can't (or don't want to) buy but can afford to pay a bunch of money every month. Getting people in this category out of the bidding war for lower priced apartments would help.

 

[Auraz]

I think this is a good point, but also I think in general high-end rental being built is still better than condo. There's still a lot of people who can't (or don't want to) buy but can afford to pay a bunch of money every month. Getting people in this category out of the bidding war for lower priced apartments would help.

This is the next 'Elite' neighourhood from Yorkville moving into the new decade. I just don't think the mix to condo ratio is fair given the size of the lot. All I'm asking for is just 160 more units to be condo/one additional building. Put the 'High-End Rentals' just east of Spadina. They literally can put anywhere South of Queen Street to the Water and it will be just as attractive.

 

[concrete_and_light]

This is the next 'Elite' neighourhood from Yorkville moving into the new decade. I just don't think the mix to condo ratio is fair given the size of the lot. All I'm asking for is just 160 more units to be condo/one additional building. Put the 'High-End Rentals' just west of Spadina. They literally can put anywhere South of Queen Street to the Water and it will be just as attractive.

I'm opposed to "Elite neighbourhoods" existing so we're probably not going to agree here.

 

[Auraz]

I'm opposed to "Elite neighbourhoods" existing so we're probably not going to agree here.

It ain't called Millionaire's Row for no reason. Thats the mindset here.

 

[greenleaf]

“the new self-styled “luxury” apartments we’re building today will be the affordable housing of 2040 and 2050 and later.”

http://cityobservatory.org/making_luxury_housing_affordable/

 

[ChesterCopperpot]

This is the next 'Elite' neighourhood from Yorkville moving into the new decade. I just don't think the mix to condo ratio is fair given the size of the lot. All I'm asking for is just 160 more units to be condo/one additional building. Put the 'High-End Rentals' just west of Spadina. They literally can put anywhere South of Queen Street to the Water and it will be just as attractive.

You do realize that they aren't doing this to personally offend you right?

It seems you are over-reacting *slightly*

 

[Red Mars]

Pics taken Jan 4, 2019

 

[RonThom]

Yeah can they afford to pay Minimum $6 SF/Monthly Rent that will be charged here. No one wins but Riocan.

OK come on it won't be $6/SF. Maybe $3.50 or in the $4 range for smaller units.

 

[Auraz]

OK come on it won't be $6/SF. Maybe $3.50 or in the $4 range for smaller units.

I think you are talking about down the street at 50 Portland a 15 Year Old Rental Building. https://www.fiftyonthepark.com/floorplans.aspx

 

[Red Mars]

Pics taken Jan 9, 2019

 

[Contra]

That big tank must be so tedious to dig. Does anyone know if they will reach other types of rocks along the way or is it largely shale?

 

[coopEng]

That big tank must be so tedious to dig. Does anyone know if they will reach other types of rocks along the way or is it largely shale?

Georgian Bay shale all the way down