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Town Lofts, The (143 Strachan Ave, ?, 3s, Stamp Architecture)

AlbertC

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bradley

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Hi, this is Brad from STAMP architecture. I found this thread and wanted to let you know that STAMP architecture is the designer of the 'the Town Lofts', currently under construction... here is an image of the new west facade on Strachan...
stamparchitecture strachan2.jpg
 

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interchange42

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Pretty gorgeous! I love the stone/wood/concrete/glass/metal trim mix. We are seeing some West Coast Modernism here I'd say!

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neuhaus

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They look incredible, beautiful use of materials.
Each of the four townhouses are roughly 6,500 sq.ft. each and are sold core and shell at $2.4m.
Can't wait to see this go up. It will make all the other houses on that street look like eyesores.
 
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cdr108

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They look incredible, beautiful use of materials.
Each of the four townhouses are roughly 6,500 sq.ft. each and are sold core and shell at $2.4m.
Can't wait to see this go up. It will make all the other houses on that street look like eyesores.
are you sure about the size ?!?
where did you get this info and what do you mean sold core and shell ?

never mind ... found the info:
http://www.stamparchitecture.net/gallery/show/strachan_row/page/1/photo/37.html#skip_to_content
 
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neuhaus

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Core and shell means unfinished, the interior layout and all materials and finishes are the responsibility of the buyer.
This is so far my favorite infill project and my dream home in the city yet!
I would love to design the interior of these townhomes to my exact standards.
 

MrR

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They do that in New York a lot....I saw one "shell" for 90 million. Yours to reno.
 

cdr108

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Core and shell means unfinished, the interior layout and all materials and finishes are the responsibility of the buyer.
This is so far my favorite infill project and my dream home in the city yet!
I would love to design the interior of these townhomes to my exact standards.
I thought that wasn't permissible ...
or are there different reasons condos can't be sold as shell?
 

neuhaus

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I thought that wasn't permissible ...
or are there different reasons condos can't be sold as shell?
Long time ago condos could be bought core & shell but it wasn't that common and only reserved for either very exclusive developments or extremely large units. I remember inquiring about buying a condo unit core and shell long ago and the builder offered only a 15% discount on the finished selling price.
These days developers will not offer this option, with exception of special penthouse units sold at a huge premium -- there is simply no profit to be had here as developers make money on finished units where they can mark up on the finished cost and also it creates complications with the Tarion.

To satisfy the Occupancy Certificate at closing, the unit must have an operating toilet and sink and an additional sink for the kitchen, amoung a few other minor details. For core and shell units the builder will temporarily put the cheapest toilet and free-standing sinks where the rough-ins are located.

I am very interested in seeing how these four townhouses will eventually be finished on the inside. At this price point I'm sure they will be stunning, however with a $2.4m blank canvas you will need to spend at the very least $100/sq.ft. to finish it at a decent level, so that puts these townhouses north of $3 million each when completed, even more if you want to match the level of quality of the interior with the exterior. A rather princely sum considering the street is not particularly exclusive or prestigeous.
 
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cdr108

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Long time ago condos could be bought core & shell but it wasn't that common and only reserved for either very exclusive developments or extremely large units. I remember inquiring about buying a condo unit core and shell long ago and the builder offered only a 15% discount on the finished selling price.
These days developers will not offer this option, with exception of special penthouse units sold at a huge premium -- there is simply no profit to be had here as developers make money on finished units where they can mark up on the finished cost and also it creates complications with the Tarion.

To satisfy the Occupancy Certificate at closing, the unit must have an operating toilet and sink and an additional sink for the kitchen, amoung a few other minor details. For core and shell units the builder will temporarily put the cheapest toilet and free-standing sinks where the rough-ins are located.

I am very interested in seeing how these four townhouses will eventually be finished on the inside. At this price point I'm sure they will be stunning, however with a $2.4m blank canvas you will need to spend at the very least $100/sq.ft. to finish it at a decent level, so that puts these townhouses north of $3 million each when completed, even more if you want to match the level of quality of the interior with the exterior. A rather princely sum considering the street is not particularly exclusive or prestigeous.
ditto ...
I think they missed the market demographic here.
IMO the units are 2-3X larger than warranted and what the market might bear.

I wonder how big the lot is?
could they not have made 8 units x 3,000+ sq ft instead of 4 x 6,000+ sq ft?
 

junctionist

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Affluent people are quite open to downtown living these days. I think they could sell these units, though there's more risk to this development. I'd love to live in a large luxury townhouse downtown in one of the most unique parts of the city. If you want a large house in that price range in a walkable neighbourhood, you generally have to go to further from downtown and live in more sedate neighbourhood. It's a good alternative to a penthouse condo--a lot of people appreciate living on the ground like a traditional home and not sharing and paying for amenities used by dozens of people.
 
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