Toronto Waterscapes | ?m | 30s | Biddington | Graziani + Corazza

Toronto has so few round towers, so it would be nice to see more of them. I've always liked that cool 60's white brick one between Yonge and Church north of College.
 
@solaris:
Thanks for the update. 25% sales is painfully slow. Last November, they were at 20%. I won't be surprised if Monarch will max-out the waiting period for this project (2+ years) before interim closing.
 
There's something about otherwise unadorned perfectly circular towers that I love. I even dig the two that can be seen from the subway while approaching Warden Station. Hopefully this goes up, and I wouldn't mind seeing some more towers like this.
 
Towered said:
Toronto has so few round towers, so it would be nice to see more of them. I've always liked that cool 60's white brick one between Yonge and Church north of College.
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Ah. That's called Vaseline Tower.

42
 
Solaris builders should be paying you for all your work... :) Nice photos... One of my favorite condos in the area...
 
CanadianDriver said:
@solaris:
Thanks for the update. 25% sales is painfully slow. Last November, they were at 20%. I won't be surprised if Monarch will max-out the waiting period for this project (2+ years) before interim closing.
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:S that's just sad.

Thanks Solaris for the info.

i noticed alot of Monarch's floor plan are pretty poorly designed. Too much awkward use of space.
 
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City Planning Preliminary Report

Waterscapes' application shows 30 storeys tower

Preliminary report considered by Etobicoke York Community Council on March 26, 2009, one report encompassing both the Nautilus and Waterscapes project~

For the fifth and final phase of development, a 30-storey mixed use residential tower with ground floor retail is proposed on the southwest block of the Central Site. In response to the City’s recently approved Humber Bay Shores Urban Design Update and Public Realm Plan, the proposal has been refined to include reduced public street road widths, and street-related building design details, taller and more slender buildings to create better separation and sky views.

  • 30 storeys
  • 95 metres
  • 345 residential units
  • 4.76 FSI
  • 1,347 sq.m. retail GFA
  • 33,356 sq.m. total GFA
A Final Report and Public Meeting under the Planning Act to consider this application is targeted for the third quarter of 2009, provided all required information is submitted in a timely manner.
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As of today when I called, the lady said they don't know when they will start construction. Is this normal for pre-construction, for them to not even have a tentative date?
 
Renderings

New renderings from Monach featuring Waterscapes' podium and the Village Court (between Waterscapes + Explorer) which looks promising :)

Waterscapespodium1.jpg

Waterscapespodium2.jpg
 
Monarch financial trouble?

I know rumours are of the plenty on this site, but I was talking to an electrician who does lots of work for Monarch and asked him why it is taking so long to begin construction on Nautilus. He hinted towards the fact that Monarch is in serious financial trouble.

Given our current economic situation, I wouldn't be surprised if many builders use this as an excuse to pull out of projects with poor sales. Truly unfortunate for people who have money tied up in one of these projects.
 
condocritic said:
I know rumours are of the plenty on this site, but I was talking to an electrician who does lots of work for Monarch and asked him why it is taking so long to begin construction on Nautilus. He hinted towards the fact that Monarch is in serious financial trouble.
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Monarch is in fairly good shape - their British owners and the American arms of the company are the ones in rough shape.

condocritic said:
Given our current economic situation, I wouldn't be surprised if many builders use this as an excuse to pull out of projects with poor sales. Truly unfortunate for people who have money tied up in one of these projects.
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It isn't an excuse, it's a basic economic reality. If units don't sell, the building doesn't get built. period. That shouldn't be a surprise to anyone.
 
If I may respond ... I think there were pretty clear indications previously that Monarch Canada's parent company (Taylor Wimpey) was suffering badly due to their real estate in USA + UK, however the "Canadian operations" was profitable, and in order to savage the 'mothership', their management decided to put Monarch Canada up for sale @ $200 million USD...

See Toronto Star article: Monarch Homes searching for buyer
 
Solaris said:
If I may respond ... I think there were pretty clear indications previously that Monarch Canada's parent company (Taylor Wimpey) was suffering badly due to their real estate in USA + UK, however the "Canadian operations" was profitable, and in order to savage the 'mothership', their management decided to put Monarch Canada up for sale @ $200 million USD...

See Toronto Star article: Monarch Homes searching for buyer
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There have been no buyers lined-up yet - so a sale may not actually occur. But yes, as you indicated Monarch is in good shape, which is why they are up for sale.

The American and British operations have taken an absolute beating over the last year or so...
 
condocritic said:
I know rumours are of the plenty on this site, but I was talking to an electrician who does lots of work for Monarch and asked him why it is taking so long to begin construction on Nautilus. He hinted towards the fact that Monarch is in serious financial trouble.

Given our current economic situation, I wouldn't be surprised if many builders use this as an excuse to pull out of projects with poor sales. Truly unfortunate for people who have money tied up in one of these projects.
Click to expand...

If there's anyone you can trust about large-scale real-estate-and-development-company transactions it's an electrician. Ahhh, so...worldly!

butt.jpg
 
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