11-06-2018, 02:10 AM
Few major factors with this one contributing to why this Transit Hub is going to sit for a long time, unless the Region pitches this build to a Toronto Developer looking to get their feet wet in the KW market. The hurdles and regulations with this site would still be a dream compared to what developers are now faced with trying to build in T.O. Problem #1) every reputable high rise builder in KW is going to be occupied for the next 5+ years with projects . The proforma, in combination with the mandatory build guidelines for the transit hub are not appealing for anyone other than Perimeter, who essentially own most of the surrounding block already. Problem #2) The scale of the project requires a developer with either extremely deep pockets, or who have a partnership with a large capital venture firm. Again, the few ones who do are occupied as per problem #1. Problem #3) the restrictions, pre-set build guidelines, provincial involvement, loss of OMB as a backup to obtain approvals make this site one of the highest risk sites in KW. Higher risk means the Money to build will be more expense, and if cost cannot be offset by increasing height, or taking out office, no dice for prospective developers. I agree with the previous comments, will be interesting to see these alternative plans.