Project Essentials / dataBase – detailed project information, floor plans, renderings
Projects & Construction Thread
Time and Space Condos 
177 Front St E, Toronto
Developer: Pemberton Group

Time and Space Condos | 102m | 29s | Pemberton | Wallman Architects | Page 30

Discussion in 'Buildings' started by M5A, Dec 8, 2010.

  1. Rufus8

    Rufus8 New Member

    Joined:
    Apr 7, 2013
    Messages:
    99
    Likes Received:
    13
    The office isn't officially open but apparently all available units have been spoken for by brokers, even before OMB decision. Interesting how they can secure funding, sell units and yet no involvement from the general public. This funny money, according to TREB, has no impact on Toronto's real estate market.
     
    Urban-Affair likes this.

  2. Urban-Affair

    Urban-Affair Senior Member

    Joined:
    Nov 18, 2007
    Messages:
    1,853
    Likes Received:
    393
    Location:
    Toronto / Lausanne / Near Basel/Zurich
    Yikes, that information is like an emotional rollercoaster.
     
  3. UD2

    UD2 Active Member

    Joined:
    Feb 5, 2008
    Messages:
    826
    Likes Received:
    94
    What part of this money is funny?
     
  4. interchange42

    interchange42 Administrator Staff Member

    Joined:
    Apr 23, 2007
    Messages:
    20,237
    Likes Received:
    11,313
    Location:
    by the Humber
    Sales office looks like this, from just now...

    IMG_1647.JPG

    42
     
    Benito likes this.
  5. jsjaker

    jsjaker New Member

    Joined:
    Jan 23, 2011
    Messages:
    57
    Likes Received:
    5
    Location:
    Toronto, ON
    Overseas sales hit the market once again!
     
  6. Benito

    Benito Senior Member

    Joined:
    Mar 12, 2014
    Messages:
    3,557
    Likes Received:
    7,743
    Location:
    Yonge and Bloor
    And the Realtors say that only 5% of sales are from foreign purchasers.
     
  7. TheKingEast

    TheKingEast Senior Member

    Joined:
    Feb 16, 2011
    Messages:
    4,320
    Likes Received:
    1,634
    But why do you assume it's all foreign buyers? There are plenty of Canadian citizens buying up condos before launch. I've done it before along with many friends. As long as there are no actual data people are going to run with whatever narrative is convenient.

    Most condos are sold before they hit the market.
     
    Solaris, grey and slicecom like this.
  8. slicecom

    slicecom Active Member

    Joined:
    Jun 2, 2013
    Messages:
    421
    Likes Received:
    233
    Location:
    St. Lawrence
    Exactly, I know numerous people who own and rent out multiple condo units in Toronto. They all live in the GTA.
     
  9. TheKingEast

    TheKingEast Senior Member

    Joined:
    Feb 16, 2011
    Messages:
    4,320
    Likes Received:
    1,634
    I know several Canadian citizens that own 5+ condos. If you bought 10 years ago you're able to leverage the gains into buying more property. A lot of people are cashing out on property they bought 10 years ago and putting that money to more condos. Is there foreign investment? Sure. But a lot of he investors are from here.
     
  10. Benito

    Benito Senior Member

    Joined:
    Mar 12, 2014
    Messages:
    3,557
    Likes Received:
    7,743
    Location:
    Yonge and Bloor
    I certainly didn't mean to imply that only foreign buyers are purchasing condos. I too know many Canadians who are investors as well purchasing units. I do think that foreign buyers comprise a greater proportion of purchasers than the 5% that the Real Estate Board is saying, especially in major downtown condo developments. I could be wrong but that is my sense.
     
  11. denfromoakvillemilton

    denfromoakvillemilton Senior Member

    Joined:
    Apr 30, 2008
    Messages:
    6,081
    Likes Received:
    363
    Location:
    Former City of York, Ontario, Canada
    Time and Space seems to be coming along well.
     
  12. Edward Skira

    Edward Skira http://skyrisecities.com Staff Member

    Joined:
    Apr 22, 2007
    Messages:
    11,976
    Likes Received:
    6,592
    Location:
    Toronto
    Secure funding? Pemberton has a lot of money to do what they do.
     
  13. maestro

    maestro Senior Member

    Joined:
    Apr 23, 2007
    Messages:
    6,172
    Likes Received:
    1,269
    The family are billionaires. That doesn't mean they put their wealth on the line for Pemberton. Afterall, They are still Marel drywallers at heart.
     
  14. Torontovibe

    Torontovibe Senior Member

    Joined:
    Apr 25, 2007
    Messages:
    5,442
    Likes Received:
    535
    Location:
    Toronto
    I know people who work in real estate and they all tell me that figure is not true and everybody knows it . It's obviously much much higher! I've even heard people speculate that over 50% of the new condo market is foreign buyers.
     
    Benito likes this.
  15. TheKingEast

    TheKingEast Senior Member

    Joined:
    Feb 16, 2011
    Messages:
    4,320
    Likes Received:
    1,634
    I don't believe the 5% either, but we need to see some actual data.
     

Share This Page