Brandon Donnelly — Daily insights for city builders. Published since 2013 by Toronto-based real estate developer Brandon Donnelly. — Page 1074

I have two quick announcements to make regarding Yonge + St. Clair in midtown Toronto.

The first is that Slate has just unveiled a new “ravine bench” at the northeast corner of the intersection. 

Here’s a photo:

And here’s another photo with people sitting in it. #SitTO

Designed by Gensler  (the same firm behind the renovation of 2 St. Clair Ave East), the design is all about celebrating both the sidewalk/public realm and the extraordinary ravines that cut through the area. Some people may not even be aware of these natural features, so perhaps this bench will help with that.

The second announcement is the launch of our Yonge + St. Clair Pop-up Store at 1470 Yonge Street . I know this is short notice, but the launch party is on Thursday, September 21 from 6 - 10pm (drop in whenever). That’s tonight if you’re reading this post via email subscription.

At the party we’ll be introducing 8 exclusive t-shirt designs from Toronto artist, Lucas Young . All of the tees will be screen-printed for you right on the spot and 50% of all proceeds from the opening night will be going to The Canadian Cancer Society. 

Wine, beer, and snacks will be available. If you come find me at the party, I’ll give you some drink tickets. So if you’re around on Thursday night, come by for some drinks, a Toronto tee, and to check out the new ravine bench on Yonge Street.

It has been a while since I shared a Kickstarter campaign on the blog and this one caught my attention:

https://www.kickstarter.com/projects/1505932940/map-art-prints/widget/card.html?v=2

If you can’t see the project embedded above, click here .

The project is colorful abstract art maps of anywhere in the world. You can also choose whatever color theme you want.

I think these are beautiful. The print at the top of this post is Rome.

I just discovered an interesting new Seattle-based startup called Loftium . 

The way it works is that they provide down payment assistance (up to $50,000) to prospective homeowners as long as they commit to renting out one of the home’s bedrooms on Airbnb for 12 to 36 months. Loftium is positioning it as a way to help first time buyers get onto the property ladder.

Here’s an example of how the math might work (taken from the New York Times ):

The details certainly matter a great deal here but, high level, the homeowner gets $50k upfront, ~$1k per month in shared Airbnb revenue, and the opportunity to buy a home. You just have to be committed to being a host.

And from Loftium’s perspective, they put out $50k at the outset and get back just over $28k a year for 3 years. Assuming these assumptions are correct, that’s a pretty good IRR. 

However, if the home doesn’t generate enough Airbnb income during the agreed upon term, Loftium is on the hook because the homeowner doesn’t owe anything after the “ services contract ” expires.

Think this will fly? Would you use it?