Seems about the going rate for the area. 215 Lakeshore just sold for $165 million and it's probably a little smaller than both sites combined but in a less prime location.
On a side note, check out the return on investment Castlepoint got at that address.
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Discontented suburbanite since 1994
That's the lot behind the Daniels sales office correct? According to all of the early renders of the area they plan on putting in a tower around the same height as Lighthouse Tower. Though that was a while back those renders were shown and anything could have changed now.
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"Less is more" – Ludwig Mies van der Rohe
Seems about the going rate for the area. 215 Lakeshore just sold for $165 million and it's probably a little smaller than both sites combined but in a less prime location.
On a side note, check out the return on investment Castlepoint got at that address.
End of 1995 is exactly when things bottomed out the last time. The one before 1147390 probably was forced in a situation to sell. They for sure paid several times as much before the bust.
I thought they'd be pushing for max density given the price they paid for it. If it was somewhere around 3 buildings at 30 floors each ~10,000 SF floorplate, that's like $185 PSF of buildable space just for the land. Not leaving yourself much of a margin after $250+ PSF in construction costs.
Edit: That render looks more like what I was expecting, maximizing that lot to the last SF
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Discontented suburbanite since 1994
This early in the process I'm not worried yet... things will change from this early concept.
On another topic, Vaughan is on fire lately... a 2nd 55 storey tower was announced at Transit City. That's now four 150+ metre towers proposed in a month!
They could easily fit four tall 8000 sq ft floor plate balcony towers on that site which would meet the minimum separation guidelines. A quick sketch to show what I mean:
I suspect the real proposal is for 3 much taller towers.
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