417 King St W | 55 fl | Proposed

[nms]

I wonder whether Downsview Airport had similar restrictions? The "as the crow flies" distance between the western end of runway 26 at Breslau and the Tek tower is about 8km. The "as the crow flies" distance between the south end of Downsview and Yonge & St Clair is about 5.5km. Unless Downsview had fewer restrictions because it wasn't a regular airport?

[plam]

I wonder whether Downsview Airport had similar restrictions?  The "as the crow flies" distance between the western end of runway 26 at Breslau and the Tek tower is about 8km.  The "as the crow flies" distance between the south end of Downsview and Yonge & St Clair is about 5.5km.  Unless Downsview had fewer restrictions because it wasn't a regular airport?

Not sure how long it's been since YZD Downsview had scheduled service. I'm guessing scheduled service has higher requirements than general aviation.

[CuilTard]

The "as the crow flies" distance between the western end of runway 26 at Breslau and the Tek tower is about 8km.

We need a name for this building to keep it separate from Tek. How about "the Zig"

[Square]

I remember it as being Wizards World. I'll say "the WW"

[CuilTard]

I remember it as being Wizards World.  I'll say "the WW"

Another option is "F"

[Rainrider22]

so TEK, beside WTF ?

[ac3r]

[panamaniac]

Confirmed or speculation?

[Momo26]

Where does this proposal stand?

[westwardloo]

I feel like the only thing that will be built in our region over the next 5+ years will be market rental buildings. There is no market for individual investors in pre-construction right now. I could maybe see the more of an appetite for mid-rise buildings with larger units that would appeal to downsize boomers. 

I hope I am wrong and the market turns around, but we are already seeing a lot of units sold preconstruction worth significantly less now that they are built. There is almost zero confidence in the Condo market Province wide right now. Price of construction is way too high right now and something has to give. The whole industry is going to go through some tough times in the next decade. Engineers, Architects, tradespeople, Lawyers, Real-estate agents, material suppliers are all going to be looking at massive layoffs in the near future unless there is a major correction.

[Momo26]

It has been quite the stark turnaround for sure. I've never seen a sector of the real estate market do something like this since USA 2008. What did that take - 5 years to fully rebound to 2007 prices?

[tomh009]

I feel like the only thing that will be built in our region over the next 5+ years will be market rental buildings. There is no market for individual investors in pre-construction right now. I could maybe see the more of an appetite for mid-rise buildings with larger units that would appeal to downsize boomers. 

I hope I am wrong and the market turns around, but we are already seeing a lot of units sold preconstruction worth significantly less now that they are built. There is almost zero confidence in the Condo market Province wide right now. Price of construction is way too high right now and something has to give. The whole industry is going to go through some tough times in the next decade. Engineers, Architects, tradespeople, Lawyers, Real-estate agents, material suppliers are all going to be looking at massive layoffs in the near future unless there is a major correction.

The governments are pushing hard for more construction so I really don't think there will be widespread layoffs in this sector. Maybe some condo-specific ones, but there are relatively few condo-specific trades.

This is really a self-inflicted injury for the condo industry, having massively marketed (small!) condo units to unsophisticated "investors" who have subsequently failed to see the returns they imagined. And, with the recent purpose-built rental properties, the demand for condo unit rentals is not likely to be increasing, either.

[westwardloo]

The government and private rental companies can only absorb so much work. Almost all of ontario's GDP growth the last decade has been on the back of the construction industry.  Removing the condo market from work from these industries is going to have a large impact on their bottom line.

The good thing about the market slow down is that investors might start looking at other industries within canada to invest, most of these industries (Tech, Health, Manufacturing) have been in desperate need of private investment for the last 2 decades.

[nms]

How much of the condo market is driven investors who buy one unit with the lowest possible down payment and backed by a mortgage? If so, is that private capital likely to convert easily to other investments? On the other hand, if banks aren't backing thousands mortgages, might they look for other investments in other industries?

[Square]

Well it looks like this development and other condo buildings 50 or over stories aint getting built anytime soon. Was talking to a renovator who said the old Ziggy part of the building is being renovated and renting to a business. So looks like I have to wait for the second phase of the CTV site for a building over 50 stories, unless the Region states it's too high for the Airport flight path, like the 50 Borden towers.