OTIS | 6 fl | U/C

[tomh009]

The 242 Queen St S project (on the same block) appears to be moving forward: now that ROOF has moved out, that building has been demolished and they should hopefully be able to engage the subtrades to start excavation soon. Market Flats and American Block are progressing. 270 Spadina renovation project was completed as were a lot (11!) of smaller mid-rise renovation projects.

OTIS construction start is likely waiting for them to sell a sufficient number of units to secure financing, as happens with most condos (remember how long it took for City Centre?). And, in any case, lots of projects have been delayed longer that OTIS: Arrow 2, Barra, Caroline St, City Centre, Electrohome, 36-42 Erb St, 168 King St S, Mayfair, 87 Regina St, Station Park, Sun Life, ...

You seem overly optimistic.  True, the building on Spadina has been renovated but Vive has done nothing regarding the addition.  The project at Margaret and Victoria was announced in 2017.  With all the condos and apartments being built, Vive would be that last place I would look at.  I have no confidence in that company.

I am neither optimistic or pessimistic about OTIS. They have sold most of the desirable units but still had a lot of inward-facing units remaining last I looked. And condo construction generally needs to pre-sell a certain percentage in order to secure financing. OTIS is far from the longest wait at this point. I have no idea whether they will start this summer (COVID-19 permitting) or whether it'll take another five years.

My point was that Vive has actually completed more than a dozen projects, and they are showing progress on Market Flats, American Block and 242 Queen. But few developers, even ones much bigger than Vive, want to have much more than two or three active projects at a time.