Toronto 422 Wellington West | 14.33m | 2s | Allied | ERA Architects

[tammywhams]

A worker now apparently gouging the roof?

 

[UtakataNoAnnex]

View attachment 312856

Well that's a bit better, for what that's worth.

 

[interchange42]

A worker now apparently gouging the roof?

View attachment 312852View attachment 312853View attachment 312854

If this is a section that is to remain, then rotted roof tiling will have to come off before corrective measures can be taken to fix this area.

42

 

[argus]

Allied picked up the property next door to the west. I kinda hope they would pick up this one as well. I have more confidence in them accommodating a heritage property like this in some future development than Lamb.

 

[UtakataNoAnnex]

If this is a section that is to remain, then rotted roof tiling will have to come off before corrective measures can be taken to fix this area.

42

That was my first thought. But I wasn't sure...thanks for clearing that up a little.

 

[Red Mars]

Apr 20, 2021

 

[karledice]

oh wow was that due to the fires?

 

[AHK]

Hallelujah!!!

Great news from Allied Reit's Second Quarter 2021 Quarterly Report - On Page 54:

On June 18, 2021, Allied committed to acquire 422-424 Wellington W, Toronto, for a total purchase price of
$27,500 . Closing is expected on August 4, 2021

Edit: Please Note - this is a direct quote from the Allied Second Quarter Report, in which all financial amounts (except per share figures) are in thousands of dollars - so the actual purchase price would be $27,500,000

 

[smably]

On June 18, 2021, Allied committed to acquire 422-424 Wellington W, Toronto, for a total purchase price of
$27,500 . Closing is expected on August 4, 2021

Wow, only only $27k? Why didn't I buy this assembly! (I kid, of course.)

 

[karledice]

OMG only 27k? I could have bought it

 

[ushahid]

So Allied bought this for a land assembly? They are going to build something taller?

 

[ProjectEnd]

There will be a holding use on the property for the next decade. Allied just signed a 10 year lease with the new operator of what was Le Select.

Also, it won't be taller - the King Spadina Secondary Plan is pretty stringent on heights on the north side of Wellington. Expect about 14 storeys here - unless things change significantly at a policy level.

 

[AHK]

OMG only 27k? I could have bought it

Sorry - I should have added to the comment when quoting directly from the Allied Quarterly Report - all of Allied's financial figures in the report (except per share amounts) are in thousands of dollars, so that would be $27,500,000

 

[karledice]

Sorry - I should have added to the comment when quoting directly from the Allied Quarterly Report - all of Allied's financial figures in the report (except per share amounts) are in thousands of dollars, so that would be $27,500,000

OK I can't afford that, I thought I could have put an offer at $30k, renovate and live there.
But very exciting that we have new owners that would give this heritage building new life!

 

[simon1024]

Hey guys, I've read all posts on this thread. I have some questions about the site, I think you guys know a lot more about this area.

I am a potential buyer of the nearby condo 400 Wellington St W. The unit is on a lower floor, west facing directly into the 424 Wellington masion. My biggest concern is the new building (whatever they decide to build eventually) will block my entire view, and it will be too close to my windows. Any ideas on the timeline of a new development since the site is now purchased by Allied? Or any prediction?

Also, are there any redevelopment plans for 420 Wellington St W (former Shopify building), I don't know if it's heritage, and I won't be surprised developers will tear it down or add something on top.

My purchase decision is heavily impacted by the nearby developments considering the very close distance of all buildings. I'd appreciate if anyone has any guess or opinions.