I just stumbled upon an older (2014) article by Oliver Wainwright in the Guardian called, The truth about property developers: how they are exploiting authorities and ruining our cities. In case the title didn’t give it away, it’s a scathing article about the current state of real estate development and city building.

Here’s an excerpt:

“Across the country – and especially in superheated London, where stratospheric land values beget accordingly bloated developments – authorities are allowing planning policies to be continually flouted, affordable housing quotas to be waived, height limits breached, the interests of residents endlessly trampled. Places are becoming ever meaner and more divided, as public assets are relentlessly sold off, entire council estates flattened to make room for silos of luxury safe-deposit boxes in the sky. We are replacing homes with investment units, to be sold overseas and never inhabited, substituting community for vacancy. The more we build, the more our cities are emptied, producing dead swathes of zombie town where the lights might never even be switched on.”

Now, I’m not that familiar with the London market, so I can’t really comment on the dead swathes of zombie town. But I did enjoy the insights into the UK entitlement process.

At the same time, my overarching thought as I read through the article was that I don’t believe that making money and doing what’s right need to be mutually exclusively. You can do both in development and in business. Making money as a developer does not mean you have to build shitty buildings.

Part of the development game is managing an endless number of competing tensions. And profitability and responsible city building is just one of them. Of course, you have to want to do the right thing in the first place.

I spent Saturday evening at Honest Ed’s for An Honest Farewell. It was a lot of fun. There were many familiar faces. And it felt very Toronto. See above photo.

But part of me felt a bit phony pretending to celebrate the end of 68 years of operations. Truth be told, I’m not sure I ever bought anything from Honest Ed’s. Had it turned into a 3 floor super club sooner, perhaps I would have spent a bit more time there over the years.

To me, Honest Ed’s was great big signage. 

When I was a kid, my mom used to work on Bathurst Street just north of Bloor and I would go downtown with her early in the morning before school. It would still be dark out and I remember being so captivated by the bright lights of Honest Ed’s. That’s what the city meant to me. Lights. Flash. Excitement. It was where I wanted to be.

A portion of the signage is being preserved and moved to Yonge and Dundas. But otherwise, this past weekend was the official end of an era. What matters now is the future of Mirvish Village. And the future is exciting.

I’ll end with an excerpt from a recent Globe and Mail article by Alex Bozikovic:

“The new development at Mirvish Village, after two years of conversation between developers Westbank, locals and the city, is inching closer to approval, with a new proposal submitted in January to the city. Westbank paid $72-million for the site, a big number, and yet the result is as good as private development gets in Toronto. It features meaningful preservation of heritage buildings, a serious sustainability agenda, and affordable housing – not to mention an architectural and leasing strategy geared at making the place as lively as possible, even a bit weird.”

I just stumbled upon an older (2014) article by Oliver Wainwright in the Guardian called, The truth about property developers: how they are exploiting authorities and ruining our cities. In case the title didn’t give it away, it’s a scathing article about the current state of real estate development and city building.

Here’s an excerpt:

“Across the country – and especially in superheated London, where stratospheric land values beget accordingly bloated developments – authorities are allowing planning policies to be continually flouted, affordable housing quotas to be waived, height limits breached, the interests of residents endlessly trampled. Places are becoming ever meaner and more divided, as public assets are relentlessly sold off, entire council estates flattened to make room for silos of luxury safe-deposit boxes in the sky. We are replacing homes with investment units, to be sold overseas and never inhabited, substituting community for vacancy. The more we build, the more our cities are emptied, producing dead swathes of zombie town where the lights might never even be switched on.”

Now, I’m not that familiar with the London market, so I can’t really comment on the dead swathes of zombie town. But I did enjoy the insights into the UK entitlement process.

At the same time, my overarching thought as I read through the article was that I don’t believe that making money and doing what’s right need to be mutually exclusively. You can do both in development and in business. Making money as a developer does not mean you have to build shitty buildings.

Part of the development game is managing an endless number of competing tensions. And profitability and responsible city building is just one of them. Of course, you have to want to do the right thing in the first place.

I spent Saturday evening at Honest Ed’s for An Honest Farewell. It was a lot of fun. There were many familiar faces. And it felt very Toronto. See above photo.

But part of me felt a bit phony pretending to celebrate the end of 68 years of operations. Truth be told, I’m not sure I ever bought anything from Honest Ed’s. Had it turned into a 3 floor super club sooner, perhaps I would have spent a bit more time there over the years.

To me, Honest Ed’s was great big signage. 

When I was a kid, my mom used to work on Bathurst Street just north of Bloor and I would go downtown with her early in the morning before school. It would still be dark out and I remember being so captivated by the bright lights of Honest Ed’s. That’s what the city meant to me. Lights. Flash. Excitement. It was where I wanted to be.

A portion of the signage is being preserved and moved to Yonge and Dundas. But otherwise, this past weekend was the official end of an era. What matters now is the future of Mirvish Village. And the future is exciting.

I’ll end with an excerpt from a recent Globe and Mail article by Alex Bozikovic:

“The new development at Mirvish Village, after two years of conversation between developers Westbank, locals and the city, is inching closer to approval, with a new proposal submitted in January to the city. Westbank paid $72-million for the site, a big number, and yet the result is as good as private development gets in Toronto. It features meaningful preservation of heritage buildings, a serious sustainability agenda, and affordable housing – not to mention an architectural and leasing strategy geared at making the place as lively as possible, even a bit weird.”