Thursday 25 October 2012

Toronto Gets First Supertall Proposal in 10 years

Toronto Gets First Supertall Proposal in 10 Years


Today, we have learned through the administrators over at the forum www.urbantoronto.ca that the Oxford proposal for the Convention Centre and Railway lands south of Front Street in downtown Toronto and adjacent to the Union Centre Rail Terminal Plan two office skyscrapers with a total height of each tower to be 326 meters high. The secret did not reveal how many planned floors these office towers would have but at that height they would have to be between 75 to 85 office floors to attain that height.

Old New York World Trade Centre Design?

A question that has been asked by many on the Urban Toronto Forum, is whether these designs have been poached from the design competition to replace the New York City World Trade Centre Towers in 2001. The design looks similar to a Norman Foster proposal that I have included here:

Norman Foster World Trade Centre
The proposals for the Toronto Convention Centre look quite familiar, almost like we've seen them before. And trust it's not that we don't mind having them here in our city. We will take them, for the number one reason that they are not a box. So the party of speculation now begins regarding timelines, although to be honest, for these towers to begin, the convention centre must first be rebuilt, and relocated for that all to happen the current site would need to be demolished, but without loosing any convention space. So this timeline will be drawn out. Still we are excited about the prospect of these towers gracing the skyline, and right next to the CN Tower, nonetheless.

The Oxford Proposal for the Toronto Convention Centre and Railway Lands 

For those uninitiated here is the Oxford Proposal for the Toronto Railway lands that was revealed about two weeks ago.



Getting a Mortgage and Mortgage Insurance through Empire Life for financing a loan to purchase at FIVE Condos is actually a relatively easy process, and new rules from the federal government has required that company include new regulations, which have made the home loan and mortgage process a bit more difficult. Those changes at Empire Life include shortening the amortization period for which the loan can be held by the consumer, and the degree to which the property is financed by the mortgage. They have also increased deposit requirements to lift the loan insurance amount. Mortgage insurance from Empire Life is actually one of the major financing costs on home loans.

Investment Trusts have no taken to looking to purchase rental properties and acquiring mortgages through financing auctions by the banks looking to shore up their balances sheets in light of stricter government regulation. These regulations have actually made holding residential mortgages by the large financial institutions harder to hold. Currently investors are looking to increase their position in rental properties in Toronto, at the same time the federal government in co-operation with the financial institutions are making getting and qualifying for loans and mortgages more difficult

Empire Life : What is Condo Insurance?
Condo Insurance is required to protect your personal contents from theft or fire damage in your condo if these unforeseen events should happen you should make sure that you have adequate protection. Some items in your condo are will also be protected by your condo association insurance policy which covers the general building. The events that are covered by condo insurance include Fire, as well as Lighting. Other weather related causes such as Windstorms, and Hail are also covered. The major one that most people worry about is theft which is covered by condo contents insurance policies.

Toronto Condo Market Report – February 26, 2014

Toronto Condo Prices continue to trend upwards, as sales also move up with general improvement not only in the Toronto economy, but the nation as a whole. Condo sale prices have not increased to the same degree as detached family housing, due to new supply coming onstream. However fears of a condo bubble, have not proved accurate, as trends move to the upside. Average Home prices are still up in Toronto, and look like they will continue to rise for the remainder of 2014. Year over year, detached housing prices increased by over 14%. Just amazing.

What to Expect for Home and Condo Prices in 2015 in Toronto and the Greater Toronto Area

The latest reports on the Toronto Real Estate market predict that the condo prices if left unsupported will fall, due to oversupply. However, this prediction has been the case for over 10 years now, and nothing has come to pass with regard to any major price drop even with predictions of a correction coming from the world’s largest and most respected financial institutions.
Oxford Convention Centre and Railway Lands Proposal
 

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