Beep Beep!!



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Do you like cars?  Do you like driving?

If you LOVE cars and you LOVE watching other people drive, boy – do I have the condo for YOU!

There are certainly worse condos in the city of Toronto, but likely not many.

Short of pulling over and getting out a measuring tape, I’m not sure if I can ever fully track how close some of these condominium units are to the Gardiner, but I think this is the closest one I’ve ever seen!

Again – I ask, rhetorically, “Who is buying this condo?”

I have no idea.

And I have no clue how somebody could mistake a giant six-lane highway for something other than an eyesore and a giant red flag for investing.

However, let’s have a look at this:

That’s the artist’s rendering for 18 Yonge Street, and it’s missing a few things…

Where are all the neighbouring condos?  Where is the Air Canada Centre, the 100-something buildings in the background, the Lake Shore Boulevard, and of course – the Gardiner Expressway?

And where the heck did all those trees come from?

I’ve also never seen a purple sky before, but maybe this was drawn by a seven-year-old with an architect’s steady hand, and a vivid imagination…

The only reason I can think of, why somebody would buy a condo on the floor that is parallel to the Gardiner and a couple feet away from the guard-rail, would be if that person relied on an artist’s rendering like the one above.

I guess if you live in Hong Kong and you’ve never been to Toronto – you might be duped into buying that otherwise unsellable unit.

So it would seem there truly is “a buyer for every property,” isn’t there?

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16 Comments

  • jb March 2, 2012

    That can’t be safe either. What happens if there is a crash on the Gardiner? What if someone collides with the guard rail? What if some debris or the actual truck – high center of gravity – goes over the guard rail?

    at the very least should have been the amenities floor or storage.


  • Darren March 2, 2012

    I think you mean metres, not feet :)

    There’s a worse coming though. Isn’t the city teaming up with a developer to put something on those pieces of “wasted” land along side the gardiner? You know, those patches where they have things like on ramps.


    • BillyO March 2, 2012

      If you are referring to Ten York, well the Gardimer ramp is coming down (the York/Bay/Yonge exit ramp) meaning the condo will not be sandwiched between the evelvated expressways. Harbour St will really open up, and the patch of grass that has otherwise been neglected will be a public space near the waterfront. That will be the biggest launch of 2012. Apparently thousands of people of expressed interest in buying into the project.


      • Scott March 22, 2012

        Ten York is a clear sign that thousands of people have gone insane.


  • RPG March 2, 2012

    You made two successful lange changes on the highway during rush hour WHILE opering a video camera. Bravo!


  • Center of the Universe March 2, 2012

    Can you please do a blog on Garth Turner. He has been calling for a collapse in real estate prices for so long. I know you have an informed opinion on the matter.


    • Joe Q. March 2, 2012

      You might have missed David’s post on this topic (just two weeks ago) and the 50-comment thread it spawned.


  • Daniel March 2, 2012

    How is it that a developer can release an artist rendering of a condo that is clearly misleading like the one you showed above? Is this not false advertising?


    • lui March 3, 2012

      hahaha builders have morals?…same as those who says view of the lake or “luxury” finishes…its all a joke for pre construction these days.


  • Vilija March 3, 2012

    Thank you for covering this condo, I have always laughed sadly at it while I drive by. I think the actual distance is probably about 8 feet or 9 feet, enough to jump across. What kind of quality of life is that, you would never be able to sleep. Who buys a unit like that??

    Also, have you heard of this story in BC? How could something like this happen? Could it happen here?
    http://www.moneyville.ca/article/1137879–real-estate-agent-fined-after-high-handed-and-outrageous-behaviour?bn=1

    Thanks for a great blog, David


    • David Fleming March 3, 2012

      @ Vilija

      I exagerate more than any person on the planet. ANYWHERE!

      I can’t help it. I found myself saying “two feet” so often that I began to believe it.

      In all liklihood, the actual distance is probably ten feet. But seriously – ten feet? It’s still nuts.


      • Joe Q. March 3, 2012

        Ten feet — less than the length of a typical sedan. Food for thought.


  • jeff316 March 3, 2012

    The residents can sell drinks and snacks to drivers stuck in 4 PM traffic.


    • George March 4, 2012

      And if real estate prices keep going up, they’ll need (and be able) to squeegee car windshields for additional income.


  • El-mikeo March 4, 2012

    My favorite part of the construction of this one was when they got to the floor that is *exactly* level with the road surface of the expressway. In slow traffic you could literally see eye to eye with the construction guys. How about that for a great selling feature?


  • Look out below March 19, 2012

    I remember when I witnessed a Mazda Miata fly over the guard rail in the early to mid 2000′s travelling west bound. The car hit the south side guard rail, travelling at very high speeds, first and then bounced over north guard rail and landed upside down on the street below the Gardiner. It happened around where the conod is being built. I remember the paper saying the driver was from Autralia and was intoxicated. Imagine if the building was there at the time, or what if there is a car fire right next to the building. It’s a made decision to build there but to have people buy here just proves that there is a massive real estate bubble forming. Real Estate is about to crash, you’ll be lucky to get another 10% upside in this market. Low rates fueled this boom and higher rates will destroy it, it’s that easy, plain and simple. It has nothing to do with people moving to this city, people have always moved to Toronto and relatively the same rate year over year. In 1991-92 the avg price of a home in toronto fell almost 45% when rates went up, but rates being so low now will be even more severe when velocity of inflation makes it way into the maket. 2.5% rates going to 5% = 100% increase in rates, people will get whipped out, and when it starts to fall a part is when you look for a bottom and you decide to buy into the market. Be patient, it’s coming and it’ll be well worth the wait.





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