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K2 Condos | 21 fl | U/C
#11
(11-05-2014, 12:46 PM)nms Wrote: Land prices will only go up. Given that the developer offered the Church $20,000 to drop their OMB challenge as well as a list of other conditions I think the church did the right thing to turn them down.

Land prices will go up, but the value of that land was much higher if it could've been incorporated into the surrounding development. Now it's not likely to be able to support the same density of development.
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#12
(11-05-2014, 09:10 PM)mpd618 Wrote: Land prices will go up, but the value of that land was much higher if it could've been incorporated into the surrounding development. Now it's not likely to be able to support the same density of development.


Reminds me of the last hold-out in this Toronto developement: St. James Town and the messy politics of urban renewal
Quote:Unfortunately for Casaccio, his building wasn't in the way of any of the planned towers and work simply began around his little home. In 1967, the three-pointed building at the corner of Wellesley and Parliament loomed over his backyard.

"We now own all the property between Ontario, Parliament, Howard, and Wellesley streets except his," said Elmore Houser, the lawyer for the developers. "We have told him we are reaching the point where we are no longer interested in buying his property for anything more than its nuisance value, but he won't believe it."


[Image: 20140425-StJames-Parliament.jpg]
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#13
Agreed. It's hard to get the higher densities you'll see at K2 on a 0.23ac property like the church's. Construction is tight, yields will drop substantially and practical underground parking garage layouts are difficult. The highest and best use was combining it in the K2 lands. Without understanding what went on behind the scenes, they made a mistake not negotiating a sale with the developer in my opinion.
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#14
Going by today on the bus it seems a like a lot of progress has been made on the demolition.
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#15
I'd say at this point the window to include the church in the project has slammed shut.
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#16
Article on St Sophia-developer negotiations (or lack thereof):

http://www.therecord.com/news-story/5158...oo/Article
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#17
Looks like they've started construction. Huge line of cement trucks along King St today, all for this site.
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#18
I was past there yesterday and noted the hole to be completely excavated and the wooden barracades/foundation/shoring to all be in place. It is quite a large hole.
_____________________________________
I used to be the mayor of sim city. I know what I am talking about.
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#19
Are both phases being done at once?
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#20
I was on the 7am bus at Conestoga to the Maple Syrup Festival, and my 7C took me by the start of their pour, before 6:30am. Around 5 or 6, they were still pouring, had three vehicles with conveyors to deposit cement in the hole, being filled by four cement trucks, with a peak line going back to Ethel's and at least 17 more cement trucks in the line, so 21 trucks at one time at least.
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