Quote:
Originally Posted by kgc087
That is so unfortunate, that is the one project I was really looking forward to have move forward in Saskatoon. I don't understand why no one can find financing, over 100 condos are being built in downtown toronto and all over the suburbs, someone is supplying someone with money. Perhaps Nasser will buck up the extra dollars and just create a mega complex. How much money do they need? Perhaps I should talk to a friend who is interested in becoming a developer in Saskatoon, this could be their break through project.
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Quote:
Originally Posted by dsim249
It might have something to do with the following:
Greater Toronto Area = 5,600,000
Saskatoon CMA = 265,000
But yes, you should talk to your friend. Don't take no for an answer!  |
I'd say it has more to do with the following:
$35,000,000 divided by 65 units = $538,461 per unit.
That spelled the end of that project pretty quick. I had a look at some of the preliminary plans for this project and my first thought was that you couldn't have came up with a less economical design if you tried. There was a tremendous mix of building shapes and materials and the ratio of buiding envelope to floor space was incredibly high. It was a funky, interesting exercise that, unfortunately, never had a chance.
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