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The Well 
410 Front St. W., Toronto
Developer: RioCan REIT, Allied Properties REIT, Diamond Corp, Tridel, Woodbourne Canada Management, Inc.


The Well | 174m | 46s | RioCan | Hariri Pontarini

interchange42

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I hope that the City hasn't missed the incredibly obvious opportunity to have The Well fund the part of RailDeck park that's in front of it.
The Section 37 Bylaw is from January 2017, so negotiated in 2016, too early for Rail Deck Park.

The cash in lieu of parkland alone that this project is generating must be a huge number. Does anyone know what the Section 37 contributions are funding?
The cash in lieu of parkland comes after the actual parkland the City is getting from this development, which are the properties at 19 Draper and 456 Wellington West. The number that was determined to cover the discrepancy (between the 10% of land required and what was actually provided) was $2M. The City is going to use that for the construction costs of the two parks.

that isn't actually that much section 37 given the scale of the project.
$13M plus the $2M park in lieu plus the land for the 2 parks. The developers have had 19 Draper for a long time I believe, but can anyone look up what they paid for the 456 Wellington property recently?

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interchange42

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It would be more than 10% here since the site is larger than a hectare - I believe the size qualifies it for a 15% dedication rate.
I wasn't aware of that distinction - thanks for that!

Realnet says $13million
Thanks! That starts to give some heft to the total—at least $28 million in public benefits value—but yeah, while $28 M is nothing to sniff at, that's not a huge amount for a huge project.

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westtoeast

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8 cranes total. 2 to go after today. Each residential building (A-F) gets one, the office (G) gets two.
That's what I figured originally and certainly makes more sense given the size of the site - I was just quoting the figure in the article above.

"There are currently five cranes on site, but that number will climb to around 12 in later stages of construction, Duncan says."

I think I read somewhere the canopy for the pedestrian mews will have some sort of cranes specifically for it as well?

Not sure!