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MARCO DIFOTI
Senior Buzzer
reply 518 vote 23
 

355 King Street West by Easton Group

This might be old news, but 355 King Street West and the Blue Jays Way site has been bought by The Remington Group and a hotelier.

This means some more big changes and competition coming to Toronto's Entertainment District, especially around King and Blue Jays Way between the Great Gulf site and this project.
7
Toronto / New Home Q&A
 
 
 
MATTHEW SLUTSKY
Senior Buzzer
reply 2174 vote 122
 
 
According to RealNet, this has been confirmed on their end.
Anyone know who the hotelier is?
 
 
LEONARD THE BEE
Buzzer
reply 161 vote 3
 
 
FYI: The Great Gulf site that @Marco is referring it is discussed here: http://www.buzzbuzzhome.com/forum/default.aspx?g=posts&t=871
 
 
MATTHEW SLUTSKY
Senior Buzzer
reply 2174 vote 122
 
 
As per Urbanation:
"As we reported on Dec 1, Easton Group purchased 355 King - Remington to partner, bringing residential experience."
 
 
MARCO DIFOTI
Senior Buzzer
reply 518 vote 23
 
 
Official news on the site:
Purchase Price: $71,250,000
Site Area: 38,500sf
Transaction Date: 2011/11/02
Buyer: Easton Group of Companies
 
 
FRANK GRECO
Buzzer
reply 13 vote 1
 
 
This price is adopting $1,800 per square foot of land. I've never heard of such values. To make a hotel and condo work at such numbers they will need to get at least 15 times coverage or about 600,000 sq ft of GFA. That's at least 35 stories at 17,000 sq ft per floor. That would result in a cost of about $120 per sq ft of build able area.
 
 
GRACECONDOS
Buzzer
reply 53 vote 4
 
 
We don't have a planning background. Would it be unreasonable to expect 35s approval?
 
 
RYAN MCGOVERN
BabbleBee
reply 365 vote 68
 
 
Don't forget to follow this project (King Blue Condos) on BuzzBuzzHome to receive a notification whenever updates are made - http://www.buzzbuzzhome.com/king-blue-condos.
 
 
 
 
 

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