I had a friend -- who I know from architecture school -- visiting from Detroit for the weekend, so we did a little building tour on Sunday morning.
This is the elevated (and half-finished) CIBC Square Park that spans over the rail lines leading into Union Station. The benches are beautiful. On the right side of the second photo are also fire pits that are in the process of being setup.
This is us nerding out (photo credit to Neat B).
And this is the view looking down Bay Street from the stairs that lead up to the park. We tried to snoop around inside a little but a security guard asked us to leave.
This is T3 Bayside -- a new timber office building going up on the waterfront. Apparently it is the tallest of its kind in North America at the moment. I am also embarrassed to say that I just learned that T3 stands for timber, transit, and technology, and that it is part of a broader office development strategy that Hines is rolling out.
This is Tridel's Aquavista. I'm looking forward to the ground floor spaces getting leased up in this area. All of the ingredients seem to be here for a vibrant waterfront community.
This is the next Aqua-something project. We all assumed that there must be strict umbrella rules in place.
This is Monde by Moshe Safdie & BDP Quadrangle (architects) and Great Gulf (developer). It kind of reminds me of 56 Leonard Street (New York) from this elevation. I guess I'm not used to seeing it from the south side.
Finally, this is Sherbourne Common, which is both a park and an important piece of stormwater infrastructure. It treats stormwater before it gets discharged into Lake Ontario and it also helps to reduce poop from flowing into Lake Ontario as a result of combined sewer overflows.
It's fun being a tourist in your own city. We should all do it more often. It makes you appreciate what you have.
https://dmeb.castos.com/episodes/interview-with-david-wex
My friend David Wex of Urban Capital Property Group -- who I featured in my "BARED" blog series back in 2016 -- was recently interviewed by architect Vincent Van den Brink (of Breakhouse) for the firm's podcast called, Design Makes Everything Better. It's a great listen and I particularly like the bit around branded vs. opportunistic real estate development. In the case of Urban Capital, David would describe his firm as being a branded developer. They build a specific product and it doesn't really change when they build across Toronto and in other markets. Expect exposed concrete ceilings and exposed ducts, among other things. If you can't see the embedded podcast above, you can have a listen over here.
BNN Bloomberg just published this article on the Toronto condo market. It is based on a roundtable discussion that was held at their Toronto office last week with Jim Ritchie of Tridel, Jared Menkes of Menkes Developments, Shamez Virani of CentreCourt, and Jane Renwick of Diamond Kilmer Developments.
The overarching theme is that, after a couple of frenetic record setting years, the market should settle down in 2019, which is likely a good thing. Hopefully that will also temper construction cost inflation. We have been seeing double digit increases over the last few years (hence some of the cancelled projects).
But as Jared points out, the fundamentals here are still strong and there are a number of supply constraints creating upward pressure on pricing:
Jared Menkes, executive vice president of high-rise residential at Menkes Developments was unwavering for the future. “There’s a lot of red tape that’s slowing down bringing more product to market,” Menkes said. “I promise you, pricing is going up.”
For the rest of the article, click here.
I had a friend -- who I know from architecture school -- visiting from Detroit for the weekend, so we did a little building tour on Sunday morning.
This is the elevated (and half-finished) CIBC Square Park that spans over the rail lines leading into Union Station. The benches are beautiful. On the right side of the second photo are also fire pits that are in the process of being setup.
This is us nerding out (photo credit to Neat B).
And this is the view looking down Bay Street from the stairs that lead up to the park. We tried to snoop around inside a little but a security guard asked us to leave.
This is T3 Bayside -- a new timber office building going up on the waterfront. Apparently it is the tallest of its kind in North America at the moment. I am also embarrassed to say that I just learned that T3 stands for timber, transit, and technology, and that it is part of a broader office development strategy that Hines is rolling out.
This is Tridel's Aquavista. I'm looking forward to the ground floor spaces getting leased up in this area. All of the ingredients seem to be here for a vibrant waterfront community.
This is the next Aqua-something project. We all assumed that there must be strict umbrella rules in place.
This is Monde by Moshe Safdie & BDP Quadrangle (architects) and Great Gulf (developer). It kind of reminds me of 56 Leonard Street (New York) from this elevation. I guess I'm not used to seeing it from the south side.
Finally, this is Sherbourne Common, which is both a park and an important piece of stormwater infrastructure. It treats stormwater before it gets discharged into Lake Ontario and it also helps to reduce poop from flowing into Lake Ontario as a result of combined sewer overflows.
It's fun being a tourist in your own city. We should all do it more often. It makes you appreciate what you have.
https://dmeb.castos.com/episodes/interview-with-david-wex
My friend David Wex of Urban Capital Property Group -- who I featured in my "BARED" blog series back in 2016 -- was recently interviewed by architect Vincent Van den Brink (of Breakhouse) for the firm's podcast called, Design Makes Everything Better. It's a great listen and I particularly like the bit around branded vs. opportunistic real estate development. In the case of Urban Capital, David would describe his firm as being a branded developer. They build a specific product and it doesn't really change when they build across Toronto and in other markets. Expect exposed concrete ceilings and exposed ducts, among other things. If you can't see the embedded podcast above, you can have a listen over here.
BNN Bloomberg just published this article on the Toronto condo market. It is based on a roundtable discussion that was held at their Toronto office last week with Jim Ritchie of Tridel, Jared Menkes of Menkes Developments, Shamez Virani of CentreCourt, and Jane Renwick of Diamond Kilmer Developments.
The overarching theme is that, after a couple of frenetic record setting years, the market should settle down in 2019, which is likely a good thing. Hopefully that will also temper construction cost inflation. We have been seeing double digit increases over the last few years (hence some of the cancelled projects).
But as Jared points out, the fundamentals here are still strong and there are a number of supply constraints creating upward pressure on pricing:
Jared Menkes, executive vice president of high-rise residential at Menkes Developments was unwavering for the future. “There’s a lot of red tape that’s slowing down bringing more product to market,” Menkes said. “I promise you, pricing is going up.”
For the rest of the article, click here.
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