Vertikal (471-481 King St E) | 23 & 19 fl | U/C

[mastermind]

It's weird, I swear the apartment buildings they built on Fallowfield went up very quickly.

I was thinking the same thing.  It's not like all Drewlo jobs are this slow.

But I also can confirm that I go past this project regularly and there are always areas progressing.  Lately it's the taller tower and the parking garage area behind it along Charles St.  The other tower seems to have stalled completely for the last few months.

[ac3r]

Thanks for the updates! I'm glad they're still working on it. Hopefully they can pick up speed this year and it can finally open by 2037. The progress this has taken in comparison to other projects in the region is glacial...only Barrelyards and Bow/Arrow Lofts took this long.

[Acitta]

Looking through past posts, Drewlo started construction in March 2019, a couple of months after Duke Tower started construction.

[Gubs]

I made a post about this project in July 2021. Since then they have added what appears to be 2 floors to the Madison tower, have done some work on the space between the two towers, and nothing to the Cameron tower.

What’s more, the tower crane above the Cameron tower has been idle since September 2021. If they are renting it, it must be costing them a fortune with nothing to show for it. So much for return on investment.

Since I live around the corner, I can attest to the fact that there appears to be about 10 people working on this project. With approximately 40 stories of buildings to erect, it’s going to take a loooooong time to get to end of job. They are about 25% of the way there after 3 years.

One final thought - I have never seen a more chaotic building site than this. With the delays and chaos and tiny staff, they have a long road ahead of them.

[panamaniac]

Would the pace of construction reflect Drewlo's assessment of the local rental market, or is something else at work?

[tomh009]

Looking through past posts, Drewlo started construction in March 2019, a couple of months after Duke Tower started construction.

They have been paused for at least a year, in two separate stretches.

[tomh009]

What’s more, the tower crane above the Cameron tower has been idle since September 2021. If they are renting it, it must be costing them a fortune with nothing to show for it. So much for return on investment.

They own the cranes.

[ijmorlan]

What’s more, the tower crane above the Cameron tower has been idle since September 2021. If they are renting it, it must be costing them a fortune with nothing to show for it. So much for return on investment.

They own the cranes.

I doubt that makes much difference. They still have the capital tied up in them, not earning money elsewhere.

But presumably there are other reasons why it is not worth it for them to speed up the project.

[Lens]

Would the pace of construction reflect Drewlo's assessment of the local rental market, or is something else at work?

Drewlo has LOADS of cash, they own the cranes and equipment so they can afford to take it slow. Not that it makes sense, but they have no investors, or other factors pushing them to speed up.

[tomh009]

They own the cranes.

I doubt that makes much difference. They still have the capital tied up in them, not earning money elsewhere.

But presumably there are other reasons why it is not worth it for them to speed up the project.

Possibly they can't get enough trades to work on all their active projects (a problem for many construction companies), and this has been determined to be one of the lower-priority ones.

[Andy Mc]

   

28 Jan. 22. There was some activity but not like other sites. Looks like theyre gearing up though.

[ac3r]

It's like our own little Ryugyong Hotel.

[Rainrider22]

They were pouring concrete today.

[DK519]

They were pouring concrete today.

I think they pour concrete everyday. Just not very much...

[ac3r]

Get a load of this...one 3 axel truck per month at a time.