Wednesday, November 23, 2011

Tocondo's rich to have yet another erection

It's so...big.

City-owned development agency Build Toronto announced Tuesday its first partnership will be with widely known developer Tridel, which will collaborate on a 75-storey, $295-million residential building in the downtown area.

The partnership, the first since the city established Build Toronto as an independent and self-funding real estate and development corporation, will develop the project at 10 York St. in the emerging Harbourfront neighbourhood.

"This is, pardon me for saying so, one hell of a deal," said Lorne Braithwaite the CEO of Build Toronto, at a news conference announcing the project.

Condo builders, modest as always...

"I [Mayor Ford]* can assure you we have some of the brightest real estate minds in the entire country ... sitting on Build Toronto's board," he said.

Tridel president Leo DelZotto said the site "offers the opportunity to create a condominium development that will be spectacular."

Read more here.

* No one in Tocondo is better suited to judge what constitutes a bright mind than Rob Ford...

We're fucked.

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