300 King St W | 50, 55 fl | Proposed

[tomh009]

He also owns La Cucina, Players, McCabes (if it ever reopens), and Dallas on that block. So those along with the leases complicate the idea of this development a bit, but the land is all assembled...

He owns the properties? Or also the businesses?

[taylortbb]

He also owns La Cucina, Players, McCabes (if it ever reopens), and Dallas on that block. So those along with the leases complicate the idea of this development a bit, but the land is all assembled...

He owns the properties? Or also the businesses?

I believe he owns PartyTown, which does own La Cucina and McCabes (and a number of other businesses). Owning Players too wouldn't be a surprise.

[dtkvictim]

He also owns La Cucina, Players, McCabes (if it ever reopens), and Dallas on that block. So those along with the leases complicate the idea of this development a bit, but the land is all assembled...

He owns the properties? Or also the businesses?

I believe he owns every property on the block, and those businesses listed.

[tomh009]

He owns the properties? Or also the businesses?

I believe he owns every property on the block, and those businesses listed.

Well, then those businesses won't be surprised if the buildings get demolished. He will really only need to deal with the lease terms of the LCBO and beer store contracts.

[dtkvictim]

I believe he owns every property on the block, and those businesses listed.

Well, then those businesses won't be surprised if the buildings get demolished. He will really only need to deal with the lease terms of the LCBO and beer store contracts.

Yes, it's just surprising he has spent decades buying up properties and opening businesses to sell it all off. Players has only just opened as well. Perhaps he's given up on his kids taking over haha.

Anyways, I had a look at the document and noticed

Information on lot ownership is attached in the form of parcel abstracts. Please be advised that 2040799 Ontario Ltd is Hallman Construction Limited and the other parcels are owned with a partner. The entire block is generally treated as a 'parcel'. Hallman Construction Limited is authorized to make the application on behalf of all owners/partners;

That numbered company owns 352 King St W (looks to be the McCabes building) so it appears a sale has partially or fully gone through, depending who those partners are.

[dtkvictim]

Other renderings from the document. I'm curious about the apparent forest and... lake(?) behind the TD building from the renders in OP.

[Spokes]

Just an outstanding project if built.

I'm cautiously optimistic because we've got one owner, but as others mentioned, the leases likely complicate things. But maybe there are details in them we don't know.

[Spokes]

Looking at the project again, there's a logical break in the street wall going from Water to the LCBO. You could do that as phase one, then move the LCBO and beer store into phase one and build on the rest of the block after.

[tomh009]

Well, then those businesses won't be surprised if the buildings get demolished. He will really only need to deal with the lease terms of the LCBO and beer store contracts.

Yes, it's just surprising he has spent decades buying up properties and opening businesses to sell it all off. Players has only just opened as well. Perhaps he's given up on his kids taking over haha.

My assumption is that redevelopment was his end goal, and the existing businesses were opened as interim solutions to provide cash flow until (he had acquired all the necessary pieces and) the time was right for redeveloping the properties.

[Spokes]

Tom is right here. He wasn't in the business of owning those businesses. He was in the business of land acquisition. That's where the real money is.

[dtkvictim]

Tom is right here.  He wasn't in the business of owning those businesses.  He was in the business of land acquisition.  That's where the real money is.

That's where the money ended up being, but I doubt he could have predicted the current state of real estate when he started 30+ years ago. My impression having met him a number of times, and as a family friend, is that opening and running his businesses was very much his focus. Though no doubt, even back then, owning properties was seen as a safe investment in tandem with running his businesses, but I never heard a word about redevelopment from him. The comment about his children also wasn't really a joke; he really seemed to want them to take over but they haven't fully done so.

Of course the math has significantly changed in recent years with the real estate and development market, and the high cost of living and COVID significantly impacting the types of businesses he runs. It's not surprising he is shifting strategies or even looking for an exit to retire. If I can find a way to ask more directly I will, because he owns a massive number of properties and businesses that shape downtown, for better or worse.