YSL Residences - Yonge Street Living (383 Yonge) | 298.99m | 85s | Cresford | Kohn Pedersen Fox

[flavakid32]

It'll be interesting to see if the buyer, whomever they might be, cancels existing contracts or tries to turn a profit within them. Given the previous month, I expect they'll try to keep the existing purchase agreements in place as it may be a couple years before sales numbers/prices are developer friendly again.

Good point!!

 

[Booster]

What’s going on? Is this project going to be canceled ?

 

[flavakid32]

What’s going on? Is this project going to be canceled ?

Base on the empty site currently it looks like Cresford is out but no official word at the moment.
Am sure they gonna blame COVID for their loss. ??

 

[canuckdave]

We're stuck with a hole in the ground and diminished sidewalks for the next few years. Buyer confidence to get this project moving again is going to take several years due to the corona-virus pandemic.

 

[interchange42]

We're stuck with a hole in the ground and diminished sidewalks for the next few years. Buyer confidence to get this project moving again is going to take several years due to the corona-virus pandemic.

The Covid speculation should be kept to one of the Covid threads, unless you know what you are stating is fact in regards to this development… and at the moment, we do not know the fate of YSL.

42

 

[Red Mars]

Wed Mar 25, 2020

No one on the site and no machines.

 

[thaivic]

Who ever lands up buying and building here should build what's approved and should not be able to cancel existing purchase agreements these units were sold for top dollar.

 

[karledice]

Who ever lands up buying and building here should build what's approved and should not be able to cancel existing purchase agreements these units were sold for top dollar.

Let's hope so
It's also in their best interest because the design has been approved and greenlit by the city

 

[ushahid]

condo prices in general will drop but as Cresford has sold these condos at the price of kohinoor, shouldn't be a problem? Concord will built it as it is. They might put in some cheap @$$ spanderel and green glass though.

 

[Ervin]

I hope they build something nicer looking in it's place

 

[Automation Gallery]

I hope they build something nicer looking in it's place

Doubt it, if true that Cresford is out and Concord took over, it will probably be .a re-designed 220-250 meter generic box

 

[ptbotrmpfn]

Hope not and that the design doesn’t change yet again got use to the idea of all the designs that they are had for now. Hopes for anything great here have flew the coup.

 

[Strange Advance]

I hope they build something nicer looking in it's place

Such as the previous design!

 

[ptbotrmpfn]

The two tower bridge design was the best one for me. Then the single tower with the curves and indent. The last design took forever for me to like. And now .... what a mess this project is, and doesn’t know what it wants to be. Shape wise. And to have this happen wildest in mid dig. Wow

 

[madknife]

Well the only thing we know for sure right now is Cresford is officially finished...
PWC running the process to sell Clover and Halo...

The Clover on Yonge Inc., The Clover on Yonge Limited Partnership, 480 Yonge Street Inc. and 480 Yonge Street Limited Partnership (Cresford Group)

This page is for information purposes only and you should consult your professional adviser if you have any questions or are uncertain as to your rights or obligations.

www.pwc.com

Apparently the YSL sale process is still ongoing, probably delayed for obvious reasons... Unfortunately, I think it's unlikely that that can go back to the 99-storey version with the indented roof terrace... which was just leaps and bounds better than anything we have seen proposed, let alone built, in Toronto...