Vicora Linkway Townhomes - Developer trying to purchase units

[toronto647]

A developer has approached the Vicora Linkway Townhomes strata offering to purchase all 20 townhomes.

The townhomes market value today is between $800,00 to $850,000. The Developer offered an initial $1.4 Million / townhome which the strata rejected. This was followed by a 1.7 Million / townhome which was rejected by 3 owners in the Strata. The Developer will be coming back with a final offer which the Strata believes will be $2 million.

Pretty decent space to put up 2 condo towers and close to the Eglinton LRT Aga Khan and Museum or Wynford Drive Stops or alternatively the Ontario Line Flemington Park Stop.

Link to site google maps

https://www.google.com/maps/place/3...f318b72582ebd8!8m2!3d43.7116645!4d-79.3254643

 

[Northern Light]

A developer has approached the Vicora Linkway Townhomes strata offering to purchase all 20 townhomes.

The townhomes market value today is between $800,00 to $850,000. The Developer offered an initial $1.4 Million / townhome which the strata rejected. This was followed by a 1.7 Million / townhome which was rejected by 3 owners in the Strata. The Developer will be coming back with a final offer which the Strata believes will be $2 million.

Pretty decent space to put up 2 condo towers and close to the Eglinton LRT Aga Khan and Museum or Wynford Drive Stops or alternatively the Ontario Line Flemingdon Park Stop.

Link to site google maps

https://www.google.com/maps/place/3...f318b72582ebd8!8m2!3d43.7116645!4d-79.3254643

For further clarity, let me bring forward an aerial pic where I have outlined the townhomes, and a portion of the street, where the townhomes end up on both sides of the road:

Everything within the red line represents a single legal lot on TOMaps, and, as such, I'm assuming, represents what the condo corp. owns here.

So the bulk of the 'road' is also their property, and in total, this represents .78ha or just over 2 acres of land.

This will, to a near certainty, require an in-situ park totalling at least 10% of the site area, which, on its face would still leave 75,000ft2 for development.

Playing around with it, I think it's probably feasible to squeeze in 3 towers. Two is easy, the third would have some separation distance challenges, at the closest point with the existing towers, but if one plays around w/shape and floor plate size there are choices. (did this super quick, looking at 3 x 750m2 floor plates with 25m separation distances)

The price being offered, to me, is suggestive of a 2 tower model.

A couple of streetview pics:

This is just in from Spanbridge, looking south-west at the townhome community. The road to the right appears to be part of this parcel:

This is almost the same pic, but pulled out to Spanbridge to reflect where the property line is (shown by a fence)

 

[ElizF]

It is truly unbelievable the amount of buildings they want to put up in this area. My concern is that the infrastructure around all these proposed buildings can't support the volume and people. There are already line ups on Spanbridge, Linkwood Lane, Gateway and St. Dennis roadways, especially during rush hour and when there are accidents on the Don Valley. There is no parking, the dog park is already fairly busy, these streets are single lane in each direction, the schools are at capacity, buses are packed. This is just excessive. In addition, this will change the aesthetics significantly. Please don't let this development happen.

 

[toronto647]

It is truly unbelievable the amount of buildings they want to put up in this area. My concern is that the infrastructure around all these proposed buildings can't support the volume and people. There are already line ups on Spanbridge, Linkwood Lane, Gateway and St. Dennis roadways, especially during rush hour and when there are accidents on the Don Valley. There is no parking, the dog park is already fairly busy, these streets are single lane in each direction, the schools are at capacity, buses are packed. This is just excessive. In addition, this will change the aesthetics significantly. Please don't let this development happen.

It is inevitable at this point. Just a matter of time.

 

[Indochic74]

This is not an appropriate site for this project, at all. And it's also not giving any consideration to the economic reality of the existing population here - everything they are building is luxury! It's gentrification.

With all of the construction planned for this area - the development by the Golf Course, this plan, Ontario Line etc. they are going to make Flemingdon Park and Thorncliffe Park completely unliveable for the next 10 - 15 years. I'm on board to fight this - I've been a resident of this area most of my life and I hate what they have planned. Do we know who the developer is? Have they already submitted plans to the City?

 

[Indochic74]

This is not an appropriate site for this project, at all. And it's also not giving any consideration to the economic reality of the existing population here - everything they are building is luxury! It's gentrification.

With all of the construction planned for this area - the development by the Golf Course, this plan, Ontario Line etc. they are going to make Flemingdon Park and Thorncliffe Park completely unliveable for the next 10 - 15 years. I'm on board to fight this - I've been a resident of this area most of my life and I hate what they have planned. Do we know who the developer is? Have they already submitted plans to the City?

FYI - I just checked and no development proposal has been submitted yet. There is nothing we can do at this stage - owners of the townhouses can sell their homes to whoever they want. It would be kind of funny stopping the developer after they've purchased the land though. They buy up all the land and then can't do anything with it. If you want to see where development proposals are being made here's the city map:

Application Information Centre

The Application Information Centre (AIC) provides information on all development applications in Toronto.

secure.toronto.ca

 

[Artin]

Instead doing this massive construction why they don't make plan to build new condo on metro housings around there. More space and all area old and unsafe

 

[toronto647]

FYI - I just checked and no development proposal has been submitted yet. There is nothing we can do at this stage - owners of the townhouses can sell their homes to whoever they want. It would be kind of funny stopping the developer after they've purchased the land though. They buy up all the land and then can't do anything with it. If you want to see where development proposals are being made here's the city map:

Application Information Centre

The Application Information Centre (AIC) provides information on all development applications in Toronto.

secure.toronto.ca

I totally sympathize with you about the gentrification of Flemo and eventually Thorncliffe Park (which won't start until 2030 ish). Flemo gentrification is starting earlier due to EGLRT almost built.

There is absolutely nothing the everyday Flemo resident can do. They have been unsuccessful for all the other projects that are approved in the Flemo area and others which have been submitted. Unfortunately gentrification is inevitable and it is just a matter of time. The Ontario Line has only sped up the timeline for Flemo unfortunately.

I know this is not the news you want to hear but I rather be honest and give you the blatant truth of what will happen to the area and in actuality has already started.

 

[toronto647]

Instead doing this massive construction why they don't make plan to build new condo on metro housings around there. More space and all area old and unsafe

The social housing in Flemo is going to be torn down as well. It is in the works and just a matter of time

 

[slickpete83]

for $1.7 million i would dump that townhouse in a heartbeat and upgrade to detached house, can't believe 3 owners said no, they must be playing a serious game of poker for a higher price

 

[toronto647]

for $1.7 million i would dump that townhouse in a heartbeat and upgrade to detached house, can't believe 3 owners said no, they must be playing a serious game of poker for a higher price

The last town was sold for $900K in about 1.5 years ago. Today's value with the EGLRT starting operations "Soon" is probably $1Mil. The argument is that they want $2 Mil.

20 townhomes @ $2Mil = $40 Mil. Put up minimum 2 towers and if not 3 seems like $2 mil is a pretty fair deal.

Now for a moment thing about the townhomes at Eglinton and Don Mills (Ferrand Drive) when developers start coming for those in 5 years they will probably pay $4 Mil cause of the close walking location to the transportation hub.

 

[Bella- Vicora Resident]

This is absolutely ridiculous. I have just heard about this project, and I am in disbelief that something like this can be allowed. I have been living in 5 Vicora Lnkw for 33 years, on the second floor. I have attached a photo of my view from my balcony. I have a 3- bedroom, and each room is facing this direction, and has a similar view to this. Now imagine 2 condo towers in the townhouses’ place. Imagine how my view will be if this project goes forward. Not only me, all residents of the 3 surrounding buildings, facing the townhouses, would be completely blocked from sunlight. This is absolutely criminal!!!! Not to mention the consistant dust and noise that comes with any construction that will suffocate and blind the surrounding residents. The project will be far too close to our buildings, and has so many negative consequences to all residents in the surrounding condos.
Please fight against this project, because this is simply inhumane!

 

[toronto647]

This is absolutely ridiculous. I have just heard about this project, and I am in disbelief that something like this can be allowed. I have been living in 5 Vicora Lnkw for 33 years, on the second floor. I have attached a photo of my view from my balcony. I have a 3- bedroom, and each room is facing this direction, and has a similar view to this. Now imagine 2 condo towers in the townhouses’ place. Imagine how my view will be if this project goes forward. Not only me, all residents of the 3 surrounding buildings, facing the townhouses, would be completely blocked from sunlight. This is absolutely criminal!!!! Not to mention the consistant dust and noise that comes with any construction that will suffocate and blind the surrounding residents. The project will be far too close to our buildings, and has so many negative consequences to all residents in the surrounding condos.
Please fight against this project, because this is simply inhumane!View attachment 477495

Welcome to Toronto - No ones view is safe. Fortunately for you the distance between your balcony and the townhouses is a decent amount. City has been approving projects much closer distance. Just a matter of time for when that views gone imo. This is getting rather common now days in our city. Rather give u the honest answer than sugarcoat it.

 

[resident15]

This project is just terrible, awful for the residents of 5 and 15 Vicora Linkway facing the townhomes.
The truth is owners of the townhomes have the freedom to sell their property to the developer, no question about it...
It's terrible that the developer eyed this already very busy area. He can look elsewhere, for example, at the Flemington housing area...more space to build his high risers.
It's unfortunate that the YYC corporation did not protect legally the area from hungry developers when the buildings were build years ago.
I'm totally appalled of this inhumane idea to destroy the lives of the 5 and 15 Vicora residents facing at the townhomes. It's a shame!

 

[toronto647]

This project is just terrible, awful for the residents of 5 and 15 Vicora Linkway facing the townhomes.
The truth is owners of the townhomes have the freedom to sell their property to the developer, no question about it...
It's terrible that the developer eyed this already very busy area. He can look elsewhere, for example, at the Flemington housing area...more space to build his high risers.
It's unfortunate that the YYC corporation did not protect legally the area from hungry developers when the buildings were build years ago.
I'm totally appalled of this inhumane idea to destroy the lives of the 5 and 15 Vicora residents facing at the townhomes. It's a shame!

All of flemo is being redevloped... there is no more space to redevelop there. This is the next logical space and building condos right next condos is very common now across Toronto. Just look at the Don Mills Eglinton Node (see pic). Literally condos are being built infront of each other and infront of existing condos.