1600-1658 Hyde Park Road - two 8s mixed use (Phase 1 Complete)

[jammer139]

They have a sign up now for tenants to move in now and not pay until July. They have leased two of the commercial units on the ground floor facing Hyde Park Rd.


Might we be seeing some of these new rental buildings starting to offer incentives in order to get tenants? The rents are likely too high and the prospects of finding tenants at those prices might start putting downward pressure on the asking prices which on one hand is good news but will definitely result in some projects being put on hold if the vacancy rates start to climb.

[jammer139]

Sign up saying they are over 80% leased on this 8s apartment building. No indication that they intend to build the second 8s building on the site of the retail plaza just to the north which is fully leased at the moment.

[MolsonExport]

meanwhile the old farmhouse that was supposed to be incorporated into phase II is quietly rotting away...

[jammer139]

Just one careless squatter away from a fire to finish the demolition permit me thinks.

Originally Posted by MolsonExport

meanwhile the old farmhouse that was supposed to be incorporated into phase II is quietly rotting away...

[jammer139]

The developer on this has decided to sell off the completed phase one building and the remaining property to Bluestone Properties.

1600-1610 Hyde Park Road
type High-rise apartment / commercial building
price $73,500,000
seller 1600 HP Inc.
buyer BlueStone Properties Inc.

[GreatTallNorth2]

Originally Posted by jammer139

The developer on this has decided to sell off the completed phase one building and the remaining property to Bluestone Properties.

1600-1610 Hyde Park Road
type High-rise apartment / commercial building
price $73,500,000
seller 1600 HP Inc.
buyer BlueStone Properties Inc.

Seems like a lot of money. I remember speaking to the original developer and he explained what he was trying to create - a main street feel with retail on the ground level and residential on top. I have to respect developers who don't just throw up slabs of concrete but think about an environment where people will want to live.

[CanadianTalk]

It looks like some administrative work is happening behind the scenes to prepare for the construction of the proposed north building.

The property owner has submitted a minor variance application to increase the height of the proposed north building from 7 stories to 8 stories.

Not exactly sure if Bluestone also owns this portion of the lands because the real-estate transaction mentioned in the previous post only includes 1600-1610 Hyde Park, and the address of the spot where the north building will go according to the city map is 1620 Hyde Park.

[jammer139]

I would expect Bluestone will let the retail plaza continue for a number of years to come as they also have a proposal for the empty lot west of Ungars for a 12s apartment and 6s apartment. I would think they would move ahead with the 12s/6s proposal before building 2 on this site. They also have proposals for a 12s and 6s on Sheffield and a 14s on Baseline Rd W elsewhere in the city.

[MolsonExport]

I thought that the North extension of this project was dead. Good to hear that it may eventually go through. The old house on the site is still silently rotting away.

Down the road, Crossings pub shuttered without warning. Apparently some employees got stiffed out of their last pay. I wonder if the management was taking deposits for Xmas parties.

I believe that the mansion (1870 thereabouts) is one of the oldest homes in London.

On Gainsborough rd., the site next to Unger's has seen a lot of proposals come and go over the past 12 years.

[CanadianTalk]

A building permit application has been officially filed for the second eight-storey building, which is to the north of the recently constructed one. I don't see any demolition permits yet.

[jammer139]

Good news indeed. Now that Bluestone purchased the first building it is likely this second one will get built. Will this be Bluestone's next build after the 11s Pond Mills project which is now topped out or will they start on one of their other proposals?

They have a 12s and 6s at Sheffield and Commissioners, a 14s on Baseline Rd W, and a 12s and 6s on the empty lot west of Ungars Country store on Gainsborough. Which of these proposals is most likely to get built next?