[APP] 36 Grote Street | 119m | 33 levels | apartments

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Ben
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[APP] Re: 36 Grote Street | 119m | 33 levels | apartments

#31 Post by Ben » Sun Jun 20, 2021 6:27 pm

I looked through the scap document and couldn’t see a cost. It was a quick look though. Kodo was $100m and this one is taller and much more glass. I think they’ve dropped a 0 off the end.

rev
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[APP] Re: 36 Grote Street | 119m | 33 levels | apartments

#32 Post by rev » Mon Jun 21, 2021 5:51 am

$25 mil? Probably 100% cheap nasty made in China building products from slave labor.

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[APP] Re: 36 Grote Street | 119m | 33 levels | apartments

#33 Post by cmet » Mon Jun 21, 2021 5:56 pm

rev wrote:$25 mil? Probably 100% cheap nasty made in China building products from slave labor.
What’s with your obsession with China

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[APP] Re: 36 Grote Street | 119m | 33 levels | apartments

#34 Post by rev » Mon Jun 21, 2021 5:59 pm

cmet wrote:
Mon Jun 21, 2021 5:56 pm
rev wrote:$25 mil? Probably 100% cheap nasty made in China building products from slave labor.
What’s with your obsession with China
People commented about the cost, suggesting it might be a typo. I suggested another possibility.

Nort
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[APP] Re: 36 Grote Street | 119m | 33 levels | apartments

#35 Post by Nort » Tue Jun 22, 2021 10:00 am

rev wrote:
Mon Jun 21, 2021 5:59 pm
cmet wrote:
Mon Jun 21, 2021 5:56 pm
rev wrote:$25 mil? Probably 100% cheap nasty made in China building products from slave labor.
What’s with your obsession with China
People commented about the cost, suggesting it might be a typo. I suggested another possibility.
Oh, so you legit think this tower could possibly be built for $25 million? You really think that's possible?

rev
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[APP] Re: 36 Grote Street | 119m | 33 levels | apartments

#36 Post by rev » Tue Jun 22, 2021 10:18 am

Nort wrote:
Tue Jun 22, 2021 10:00 am
rev wrote:
Mon Jun 21, 2021 5:59 pm
cmet wrote:
Mon Jun 21, 2021 5:56 pm

What’s with your obsession with China
People commented about the cost, suggesting it might be a typo. I suggested another possibility.
Oh, so you legit think this tower could possibly be built for $25 million? You really think that's possible?
Why don't you tell us, through all your infinite wisdom, how much you think this is going to be built for.

Nort
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[APP] Re: 36 Grote Street | 119m | 33 levels | apartments

#37 Post by Nort » Tue Jun 22, 2021 12:39 pm

rev wrote:
Tue Jun 22, 2021 10:18 am
Nort wrote:
Tue Jun 22, 2021 10:00 am
rev wrote:
Mon Jun 21, 2021 5:59 pm


People commented about the cost, suggesting it might be a typo. I suggested another possibility.
Oh, so you legit think this tower could possibly be built for $25 million? You really think that's possible?
Why don't you tell us, through all your infinite wisdom, how much you think this is going to be built for.
More than $25 million for sure. Assuming they didn't just make up a random number (entirely possible) the main possibility seems to be the one that Ben suggested, that a digit has dropped. So either $125 million, or $250 million.

I'd guess $125 million.

Thanks for the compliment by the way, but I definitely wouldn't describe myself as having any more wisdom than the average on this board.

Smithy84
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[APP] Re: 36 Grote Street | 119m | 33 levels | apartments

#38 Post by Smithy84 » Thu Jul 01, 2021 6:28 pm

Approved.

Patrick_27
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[APP] Re: 36 Grote Street | 119m | 33 levels | apartments

#39 Post by Patrick_27 » Thu Jul 01, 2021 6:40 pm

I'm sure $25m is likely a mistake but if not, I question the quality of the building considering it's a larger build that 203 North Terrace and yet would come in $5m less if it were $25m...

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phenom
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[APP] Re: 36 Grote Street | 119m | 33 levels | apartments

#40 Post by phenom » Fri Jul 02, 2021 2:13 pm

I'll suggest a third option, which applies to several other proposals recently put up where the cost seemed too low. And that's that the approval fees payable for the development is a percentage of the stated cost, and no doubt some are deliberately understating the cost of the development to reduce the fee payable. On some of these, they are easily saving $100 to $200k by giving these stupidly low figures.

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