Weston rental property snapped up

A 96 unit Weston Road apartment building was recently purchased for $9.3 million. The property at 2304 Weston road purchased by InterRent¬†is just 50 metres from another of the company’s holdings at 2336 Weston Road. According to the company’s press release,

This purchase has a solid going in cap rate, upside potential and adds more scale and efficiency to our operations in Toronto. With this purchase we will have acquired 1,000 suites so far this year, all of them in strong rental markets that we have targeted for growth.

InterRent obviously sees Weston as a stable income source and a place for future investment.

We would be a great home for the new TCHC headquarters¬†…paging Councillor Nunziata.

Feedback on maintenance yard needed.

Here is a conceptual view of the TTC rail yard slated to occupy the Kodak Lands site.

The original Kodak building will be preserved on the site.

Next to the site is a proposed bus terminal to serve as a transportation hub.

The bus terminal, rail tracks and Eglinton Crosstown LRT all converge here.

Conspiracy theorists have said that the junction of the GO train line / Airport Link with the Eglinton Crosstown LRT in combination with the bus terminal plans will mean that Weston Station will be temporary. They think that the ultimate plan is to build a GO station in this location and render Weston Station unnecessary.

This would be even more outrageous than claiming that electrification of the Kitchener rail line / ARL has to wait for an environmental assessment.

Residents are invited to comment on the whole document but (sorry for the late notice) get your skates on. Feedback is required by July 10.

 

St John status update

InsideToronto had an excellent article explaining the progress of St John the Evangelist toward getting a new school and toward their temporary relocation in short, the money still hasn’t come for a new school and there are some minor concerns with the soil quality, but the move is going along as expected.

“I’m a little disappointed that a top priority school couldn’t get complete funding,” said Dave Bennett, chair of St. John the Evangelist’s Catholic School Advisory Council (CSAC).

ARL could have been electrified by 2015

The Air Rail Link could have been electrified in time for the Pan Am games, according to Metrolinx, InsideToronto says. The Pan Ams had been used as justification for rushing the construction, even though the athletes will not take the ARL and the event is only two weeks long.

The 2015 ‘deadline’ had already seemed concocted and the conversion seems unnecessarily expensive. That the electrification is being held up–assuming it indeed happens–by paperwork does nothing to burnish the image of a much-disliked agency.

“We’ve been meeting in this room for five years now,” said Dobson. “One thing after another has been proven wrong.”