Edgemere Estate Walkthru

[blaque]

Im sure you guys are well aware of this place and the situation....being from south of the border Id never heard or seen of it till today and have just stumbled upon it thru word of mouth. Most expensive piece of real estate in Canada if i read right? Im amazed at all aspects of this

 

I believe it was gobbled up for 35 million and knocked down to build condos???????

 

http://www.youtube.com/watch?v=YWlhlrVOCNI

Edited November 15, 2013 by Blaque

[Tim Mills]

In years past the estates along the lakeshore used to be subdivided and a neighbourhood of custom homes would be created. A few years ago I was told by an architect buddy in oakville that the land has become so valuable that developers can't get enough money out of the land with that business model anymore. He mentioned an estate that was being developed and subdivided into multiple low rise condo buildings. Each building was 5 floors, 1 seperate condo for each floor. Lots of boomers in Oakville with major coin who want to "downsize". The low rise condo model allows them to max money out of the lakefront/lakeshore properties.

[danbouck]

Lakeshore including the Edgemere job keep me very busy.

[mercforever]

house is still up,will be demoed in the near future,full of foxes and raccoons,doing the electrical in the new suites

[Nipfisher]

What is the history on it? How long hs it been vacant? Why was it vacated?

[Roy]

Here's the history: http://jermalism.blogspot.ca/2013/03/abandonment-issues-edgemere-estate.html

[Nipfisher]

Thanks Roy.

[John]

There are 7 or so of these type of estates on the Oakville lakefront that change hands from time to time. Mostly new money guys who either want to impress their wives, families, friends or girlfriends....... There is a smaller version on the Burlington lakefront that underwent a multi million reno, sold 6 months later and then torn down and rebuilt, go figure.

 

If you want to see unbridled excess on the lakefront Google Chelster Hall, built by Hugo Powell, ex CEO of Interbrew, The numbers vary but most accurate estimate is around $50 million. Must be money in beer...

[Richie Razor]

Absolutely unreal money in that area, but I must say if I could afford it I would for sure be living there, such a beautiful area. Personally I hate the "condofication" of area such as in Toronto, and I'm pretty sure this area has enough bazillionaires to put a halt to this project.

[John]

Property development is already well underway...they are not condo's in the traditional sense.

[danbouck]

There are 7 or so of these type of estates on the Oakville lakefront that change hands from time to time. Mostly new money guys who either want to impress their wives, families, friends or girlfriends....... There is a smaller version on the Burlington lakefront that underwent a multi million reno, sold 6 months later and then torn down and rebuilt, go figure.

 

If you want to see unbridled excess on the lakefront Google Chelster Hall, built by Hugo Powell, ex CEO of Interbrew, The numbers vary but most accurate estimate is around $50 million. Must be money in beer...

 

John, I was lucky enough to work in that house and have several jobs with the builder. If you ever have a chance to get in there do it, they host events once in a while on the property.

[John]

My daughter has been in there for a fund raiser quite the place...(palace)

[Raf]

i understand different strokes for different folks but man.. give me that kinda money and i'd be on an island on LOTW not surrounded by 4-5million people.

[mercforever]

demo started today on edgemere property,making room for phase2

[jbailey]

southeast oakville is incredible

[irishfield]

Thanks for the story link Roy.. Jen enjoyed it and although unfortunate that Gilgan had to sell that property to lose some bad memories and settle up with his ex... it's great that we have such a self made philanthropist such as Peter in our midst in Ontario. Thanks to his generosity Maple Leaf gardens was refurbished into the Ryerson U althletic centre (giving Jen a beautiful new office) with a $15 million dollar gift and I noticed while walking down Gerrard last night, with Jen's take out from Jack Astors, that he's also put his name on a huge centre for research and learning on the corner of Bay and Gerrard, as well as many other financial outpourings.

 

Doing a bit more research... the research and learning centre is part of Sick Kids. Peter Gilgan gave 40 millon dollars towards it's 400 million cost to build and houses 2000 research staff!

 

http://www.thestar.com/news/gta/2013/08/26/sick_kids_honours_donor_peter_gilgan_for_40_million_donation.html

 

http://www.sickkids.ca/AboutSickKids/Newsroom/SickKids-towers-over-bay/index.html

Edited November 23, 2013 by irishfield