TORONTO | Three Hundred | 156 M / 512 FT | 52 FLOORS - Page 5

Davis137 · #81 Posted **Jun 1, 2012, 8:37 PM**

Is it already as tall, or taller than the CBC building? It's going to be quite big when it's done, by the looks of it...

caltrane74 · #82 Posted **Jun 7, 2012, 11:31 PM**

This and hallmark are my favorite of the under 200 meter bad boys!!

#83 Posted **Jun 10, 2012, 12:45 AM**

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#84 Posted **Jun 10, 2012, 12:46 AM**

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caltrane74 · #85 Posted **Jun 11, 2012, 1:39 AM**

I still dont understand the condo boom....

But it is changing the character and face of the city.

DZH22 · #86 Posted **Jun 11, 2012, 10:34 PM**

Quote:

Originally Posted by caltrane74

I still dont understand the condo boom....

But it is changing the character and face of the city.

As an outsider I am very impressed with the beyond ridiculous level of construction in Toronto. When I went in 2002, Boston's skyline at least rivaled Toronto's (for example, 16 500' towers to 11 for Toronto). However, Toronto is literally building the equivalent of my entire city's skyline RIGHT NOW!

So my question is, are these towers actually being filled up? How can the demand be there to build one humongous condo, after another, after another? Is Toronto's population exploding or something? I guess I just don't understand how this is sustainable, especially with all of the proposals right around the corner. I think it's cool as hell, but... how can a city change this drastically in such a short amount of time?

#87 Posted **Jun 11, 2012, 10:45 PM**

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#88 Posted **Jun 11, 2012, 10:47 PM**

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cruzin4u · #89 Posted **Jun 12, 2012, 1:32 AM**

Quote:

Originally Posted by DZH22

As an outsider I am very impressed with the beyond ridiculous level of construction in Toronto. When I went in 2002, Boston's skyline at least rivaled Toronto's (for example, 16 500' towers to 11 for Toronto). However, Toronto is literally building the equivalent of my entire city's skyline RIGHT NOW!

So my question is, are these towers actually being filled up? How can the demand be there to build one humongous condo, after another, after another? Is Toronto's population exploding or something? I guess I just don't understand how this is sustainable, especially with all of the proposals right around the corner. I think it's cool as hell, but... how can a city change this drastically in such a short amount of time?

A good amount of it is overseas investments. You literally have individuals/groups buying entire floors when a new condo is launched.

Typically condos are sold out even before they are open to the public. It's usually speculators that are buying the majority of the units (I read 80% of the units are overseas investors from India, China, Russia, Iran and so forth).

They are hoping that their investment will continue to grow (real estate is often seen as a 'safe bet'). But once those investments no longer grow or the price of condos crash, it's going to be a mess.

There is also an oversupply of condos and overbuilding. The developers don't care, because as long as they are selling, it's motivation to keep building. No one is really thinking of a market correction at this point, which is unfortunate.

There is a lot of money coming into Toronto as well, mostly from China and India and so forth. There is a ridiculous amount of building going on in the city. If you were to drive around, you would see cranes literally everywhere - not just in the core of downtown. Sometimes it even bewilders me where people are getting their money to afford all the new condo apartments.

Innsertnamehere · #90 Posted **Jun 12, 2012, 1:52 AM**

these condos are full of people, even if they are renters and not actual owners. there is demand for this much housing downtown, trust me. they may be being purchased by investers, but they are still being rented out. I would call them landlords, not investers. though ya, the market is sort of inflated right now.

DrNest · #91 Posted **Jun 13, 2012, 7:43 PM**

Quote:

Originally Posted by Davis137

Is it already as tall, or taller than the CBC building? It's going to be quite big when it's done, by the looks of it...

Not yet. Needs a couple more floors before it matches the CBC building height wise. Won't be long before it drawfs it though.

cruzin4u · #92 Posted **Jun 13, 2012, 7:47 PM**

Quote:

Originally Posted by Innsertnamehere

these condos are full of people, even if they are renters and not actual owners. there is demand for this much housing downtown, trust me. they may be being purchased by investers, but they are still being rented out. I would call them landlords, not investers. though ya, the market is sort of inflated right now.

You are right, there is demand - but it's been written about that there is an oversupply of condos at the moment and this will continue to grow with all the new developments in the pipeline.

I happen to be one of those renters. My unit is owned by an investor/slash/landlord from South Korea.

Generally the investors/slash/landlords are not making a profit off renting these units. They are making enough to cover their mortgage (and in some cases not even). Their ultimate goal is to hold on to the property as the market continues to climb and then sell it. It's been said some investors are even taking a hit by owning property, but their hope is continual appreciation in real estate.

DrNest · #93 Posted **Jun 18, 2012, 12:54 PM**

Taken by me a couple of days ago. I'm really liking the cladding on this one. It's a welcome change from the blue/green glass so prevalent on many of the condos in this area.