Toronto Wellesley on the Park | 194.15m | 60s | Lanterra | KPMB

MikeOlivo-Moore said:
I wonder if the developer will go with aA like they often do, and what kind of configuration we might be looking at if they plan to keep a bit of park here as well. (Not sure if its public knowledge so I wont mention whom.)
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anyone with a bit of time could go to the registry office and find who owns the property, so it wouldn't be too much of a stretch to at least let us know who owns the property..
 
innsertnamehere said:
anyone with a bit of time could go to the registry office and find who owns the property, so it wouldn't be too much of a stretch to at least let us know who owns the property..
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It's very likely that the property is registered in the name of a numbered company (or company named after the municipal address of the property) which is holding the property in trust for the beneficial owner. Although you could order a Corporation Profile Report on the company to find out who its directors and officers are. Presumably they'd be the same as the directors and officers of the beneficial owner.
 
innsertnamehere said:
anyone with a bit of time could go to the registry office and find who owns the property, so it wouldn't be too much of a stretch to at least let us know who owns the property..
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I didn't know if it was public or not, the sale happened on the 28th. I'm not a legal expert, and the access I have to sales info comes with rules at my company that I thought it unwise to break.
 
:eek:Wow, this deal is going to give KWT an ulcer...
Expect a small park and a couple 60s towers


Kristyn Wong-Tam says the province closed a deal with Lanterra Developments on March 1. Lanterra, which was one of 12 companies to bid on the land, did not respond to Xtra's request for comment.

“We are most likely going to see a multi-tower plan for about 1,000 units, which doesn’t leave a lot of land for the park,” Wong-Tam says, noting she's still working to acquire some public green space. “The discussions are still preliminary, but I’m hopeful we can secure the best results for the community.”

Wong-Tam says the province has failed to come to the table to work with the community. Instead, she says, the province sent the message that the city should compete in the bidding process in the open market.

“The province has not been helpful, unfortunately, despite many attempts by the community to get the province to work with the city,” she says.

We would come to the table with a fraction of the money,” she says. “I know how much was paid for this piece of land by the developer, and we would not have been able to compete . . . It’s ludicrous to expect the city to compete with private developers.”

Wong-Tam, who confirms that the land sold for $65 million, asked the province to halt the sale, which, she says, legislators could have done. “So, it’s rather disingenuous for the province to say that the city did not make an offer.”
 
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What a shame that the Province didn't play ball. I love downtown intensification, but a large, totally unspoiled piece of land in the middle of downtown is an opportunity we can't really ever get back. That said, I think the possibilities here were somewhat limited by the lack of frontage of the parcel to major streets.
 
Will Lanterra continue the naming theme and make this their Venetian district? How about Lido, Torcello, Alberoni?
 
Automation Gallery said:
:eek:Wow, this deal is going to give KWT an ulcer...
Expect a small park and a couple 60s towers
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More from the article:

Wong-Tam plans to begin a negotiating process with Lanterra as soon as possible.

“This is a developer that I have a good working relationship with, and one which already has several projects in the neighbourhood,” she says. “The discussions are encouraging.”

[...]


Wong-Tam says the residents of Ward 27 have been patient. She thinks that even a small park would help overcome the area's deficit of green space.
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Hoping for a trade-off in terms of higher height limits in exchange for a more generous park area.
 
I hope we get more park area too out of this - the problem with small parks or "parkettes" while nice, they really aren't that useful as a park per se - you have a few benches a path or two for people to walk on; some green area for dogs to pee on (don't get be wrong I love dogs but there needs to be a proper dog run area in this neighourhood) and that's about it. This is why its so dissapointing.
 
More than 20 years after the opera was cancelled, the development of this area is once again defined by Ontario's legendary stinginess.
 
What a shame that the Province didn't play ball. I love downtown intensification, but a large, totally unspoiled piece of land in the middle of downtown is an opportunity we can't really ever get back. That said, I think the possibilities here were somewhat limited by the lack of frontage of the parcel to major streets.
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Queens Park isn't that far away.
 
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