Latest news with #Apex
Yahoo
9 hours ago
- Sport
- Yahoo
Texas Fury Texans vs. Apex Predators Raiders highlights NFL FLAG Championships
Watch highlights between the Texas Fury Texans and the Apex Predators Raiders at the 2025 NFL FLAG Championships.
Mint
16 hours ago
- Science
- Mint
Anonymous buyer spends ₹263 crore to own 150-million-year-old dinosaur fossil; ‘Bezos or Musk?' wonders social media
A very rare dinosaur fossil has been sold for $30.5 million ( ₹ 263 crore) at an auction in New York. It was a Ceratosaurus, a meat-eating dinosaur with a horn on its nose, sharp teeth and bony armour on its back and tail. The buyer wants to loan it to an institution, which is suitable for a specimen of this 'rarity and importance', Sotheby's auction house said. Professor Steve Brusatte has called such high prices shocking. The dinosaur expert from the University of Edinburgh feels museums cannot afford them. 'While I'm pleased that the buyer might loan the skeleton to a museum to be put on display, at this point, it is just a vague suggestion. The buyer is still anonymous,' Brusatte told CNN. He fears the fossil may end up hidden in a rich person's home and never be seen by the public again. 'My fear is that this skeleton will disappear into the ether, into the mansion of an oligarch or a bank vault to accumulate value as just another investment in the portfolio of a hedge fund, and not see the light of day until it's auctioned again, or maybe never at all,' he added. A Mars meteorite, the biggest found on Earth, was sold for $5.3 million in the same auction. In July 2024, a Stegosaurus fossil named Apex was sold by Sotheby's for $44.6 million ( ₹ 380 crore). Social media wondered who the buyer was. 'Bezos or Musk?' asked one YouTube user. Another called it 'bare bones capitalism'. 'Are you telling me Sotheby's got 4 million in fees?' asked one user as the official price differed from what was seen in the auction video. This fossil is special because it's the only young Ceratosaurus among the four known in the world. It is over 150 million years old. It belongs to Late Jurassic, Kimmeridgian Stage, estimated to have existed 154-149 million years ago. The fossil is 6 feet tall and over 10 feet long, with 139 bones. Its skull is almost complete with 57 bones. It is an 'exceptional, exhibition-ready mounted skeleton', according to Sotheby's. The skull has 43 teeth, along with 5 extra loose teeth. Its sharp teeth and horned nose are clearly visible. The bones are well-preserved, dark in colour and show fine details. Sotheby's says it is one of the best and most complete fossils of its kind. It was expected to sell for $4 to $6 million. However, it got much more after six bidders competed, CNN reported. It was shown at a museum in Utah from 2000 to 2024. Surprisingly, scientists have never formally studied this fossil in a research paper. Experts believe the fossil belonged to a young dinosaur due to the delicate bone structure. The skeleton has been carefully mounted in a dramatic pose with jaws open. It includes ownership documents, x-rays, 3D scans and legal certification. According to Sotheby's, the dinosaur skeleton is offered with full ownership rights.
Hamilton Spectator
16 hours ago
- Business
- Hamilton Spectator
Condo development in Hamilton stalls as market hits historic low
Builders of highrise condos are hitting the brakes on Hamilton projects as the residential development sector struggles through the worst market downturn in decades. After another dismal quarter, the horizon for condo towers — the kind of density Hamilton is banking on to breathe more life into downtown , meet growth targets and provide more housing — is hazier than ever. One builder that's taking a wait-and-see approach is Coletara Development, which has paused sales on a 23-storey condo tower planned for vacant land on the edge of downtown Coletara Development has paused sales on a 23-storey condo tower planned for vacant land on the edge of downtown. 'The project's all completed. We're ready to go from a planning perspective,' Paul Kemper, president of the Mississauga-based firm, told The Spectator. 'That's not our issue. Our issue is that the market has slowed down.' Just under half of the Apex Condos, which is planned for the southwest corner of King and Queen streets, have sold, Kemper said. 'We're just waiting for the market to come back and then we'll be moving forward with additional sales.' Typically, although the threshold can vary, high-density condo developers must reach at least 60 per cent in presales to line up financing from lenders before projects can advance. The residential market across the Greater Toronto and Hamilton Area (GTHA) — and especially within the high-density condo sector — has crashed under the weight of a combination of factors, including spiked interest rates, escalating construction costs and higher unit prices. Kemper points out interest rates have come down, but consumer confidence hasn't yet rebounded during a wounded economy (most recently battered by U.S. tariffs). Our issue is that the market has slowed down. 'The reality is that because the economy is going poorly, there is just not the disposable income that people have to buy homes, and the homes are at all-time-high prices, so it's hard for the consumer. We recognize that.' The 'only variable that we can control' to tame prices is decreasing the size of units, but 'they have to be livable at the end of the day,' Kemper said. Coletara is no stranger to Hamilton, having built a 24-storey residential building at the former All Saints Anglican Church site at King and Queen, just north of the Apex property, a few years ago. And as his firm watches the market to resume sales, it has three other high-density projects in the queue for downtown that it wants to move on, Kemper said. 'We haven't moved them into sales yet because we're waiting for Apex to complete.' Other highrise developers with Hamilton projects are also taking a hard look at the cratering condo market. Slate Asset Management has planned three buildings of 27, 14 and eight storeys, with nearly 800 units between them, at the shuttered Corktown Plaza off John Street South. Slate Asset Management has planned three buildings of 27, 14 and eight storeys, with nearly 800 units between them, at the shuttered Corktown Plaza off John Street South. But 'in light of changing market conditions for condos sales,' Slate has 'proposed an amendment' to buyers of the first tower that would 'extend our construction financing condition timeline by one year,' a company spokesperson said via email. The only change for buyers who accepted the proposal is the extended timeline, but full deposits with interest were refunded to those who wanted out, Slate noted. 'We remain committed to finding ways to move forward with the project, and we are working hard to realize our vision for this community.' Real estate research firm Urbanation's second-quarter analysis of the GTHA new condo market tallied 502 sales, which extended a 30-year low for the sector. Second-quarter sales were down 10 per cent from the first and dipped 69 per cent year-over-year. This second quarter was 91 per cent below the 10-year average. Nobody wants vacant parcels. Unsold units are piling up as GTHA developers pause condo projects with only three launching presales on 891 units in the second quarter. Since the start of 2024 in the GTHA, 21 projects (4,412 units) have been cancelled. Of those, Urbanation noted, nine are being converted to rentals, an emerging trend as condo developers pivot from sales-dependent financing. Meanwhile, construction starts (essentially when foundations are poured) continue to lag from previous years. Across all housing types, Hamilton had 1,481 starts in 2024, a stark contrast from 3,347 in 2023 and 3,352 in 2022, according to Canada Mortgage and Housing Corporation (CMHC) data. Coletara Development has paused sales on a 23-storey condo tower planned for vacant land on the edge of downtown. The downturn has interrupted Hamilton's once-surging condo market, says Pauline Lierman, vice-president of market research for Zonda Urban, a real-estate research firm. That's disappointing, says Lierman, a McMaster University graduate who says she was looking forward to seeing planned residential-commercial development at Pier 8 , a city partnership with private builders, hit the market. 'That has kind of been swept under the rug.' In April 2024, Waterfront Shores, the consortium behind the project — which calls for 1,645 residential units, including a 45-storey tower — told the city 'builder threshold profit' for the phased development's first two blocks had 'not been met.' Lierman says it became 'very easy to churn out towers' with investors willing to buy units, but now amid the severe slowdown, developers have resorted to 'lowball pricing' to get past the financing hurdle. Developers might opt to 'shelve' projects and 'rethink' their products, including opting for smaller buildings or shifting to rental, Lierman said. That last option would be a good thing, Coun. Cameron Kroetsch suggests. We definitely need more rental stock downtown. 'We definitely need more rental stock downtown,' said Kroetsch, noting nearly 80 per cent of those who live in the core are renters. The condo crunch overlaps with a dispute between highrise developers and Philpott Memorial Church over the sale of the congregation's York Boulevard church. The cited sticking point has been potential heritage protection for the 124-year-old church, a discussion that sparked concerns from Kroetsch about housing not materializing for years on the site should the church be razed. 'If you're going to tear it down, it has to be replaced with housing.' Representatives of development partners Empire Communities and Hamilton Coliseum Place didn't respond to The Spectator's requests for comment. With more than 90 per cent of housing in private ownership, it's 'beholden' to market dynamics, said Coun. Maureen Wilson, whose ward includes the Apex Condos. In such a landscape, local governments are limited in what they can do, but 'nobody wants vacant parcels' of land, Wilson said. 'We know that people, density, adds to vitality, adds to economic exchange, adds to us enjoying and having more and different neighbours.' As the market bottoms out, the residential construction sector has pressed the city for breaks on development charges, which municipalities use to pay for growth-related infrastructure. Finance staff are examining potential relief but have emphasized foregone revenue must be recouped through property taxes and pointed to the need for senior levels of government to backstop any discounts. Cranes in the sky are for projects that got underway a few years ago , but now highrise residential development is at a grim crossroads, says Mike Collins-Williams, CEO of the West End Home Builders' Association. 'Everyone in the industry is hopeful that there will be a turnaround, but I think with each passing month, there's a deeper understanding that this is a seismic shock that is going to take potentially years to navigate our way out of.'
Mint
19 hours ago
- Science
- Mint
Anonymous buyer spends ₹263 crore to own 150-million-year-old dinosaur fossil; ‘Bezos or Musk?' wonders social media
A very rare dinosaur fossil has been sold for $30.5 million ( ₹ 263 crore) at an auction in New York. It was a Ceratosaurus, a meat-eating dinosaur with a horn on its nose, sharp teeth and bony armour on its back and tail. The buyer wants to loan it to an institution, which is suitable for a specimen of this 'rarity and importance', Sotheby's auction house said. Professor Steve Brusatte has called such high prices shocking. The dinosaur expert from the University of Edinburgh feels museums cannot afford them. 'While I'm pleased that the buyer might loan the skeleton to a museum to be put on display, at this point, it is just a vague suggestion. The buyer is still anonymous,' Brusatte told CNN. He fears the fossil may end up hidden in a rich person's home and never be seen by the public again. 'My fear is that this skeleton will disappear into the ether, into the mansion of an oligarch or a bank vault to accumulate value as just another investment in the portfolio of a hedge fund, and not see the light of day until it's auctioned again, or maybe never at all,' he added. A Mars meteorite, the biggest found on Earth, was sold for $5.3 million in the same auction. In July 2024, a Stegosaurus fossil named Apex was sold by Sotheby's for $44.6 million ( ₹ 380 crore). Social media wondered who the buyer was. 'Bezos or Musk?' asked one YouTube user. Another called it 'bare bones capitalism'. 'Are you telling me Sotheby's got 4 million in fees?' asked one user as the official price differed from what was seen in the auction video. This fossil is special because it's the only young Ceratosaurus among the four known in the world. It is over 150 million years old. It belongs to Late Jurassic, Kimmeridgian Stage, estimated to have existed 154-149 million years ago. The fossil is 6 feet tall and over 10 feet long, with 139 bones. Its skull is almost complete with 57 bones. It is an 'exceptional, exhibition-ready mounted skeleton', according to Sotheby's. The skull has 43 teeth, along with 5 extra loose teeth. Its sharp teeth and horned nose are clearly visible. The bones are well-preserved, dark in colour and show fine details. Sotheby's says it is one of the best and most complete fossils of its kind. It was expected to sell for $4 to $6 million. However, it got much more after six bidders competed, CNN reported. It was shown at a museum in Utah from 2000 to 2024. Surprisingly, scientists have never formally studied this fossil in a research paper. Experts believe the fossil belonged to a young dinosaur due to the delicate bone structure. The skeleton has been carefully mounted in a dramatic pose with jaws open. It includes ownership documents, x-rays, 3D scans and legal certification. According to Sotheby's, the dinosaur skeleton is offered with full ownership rights. Originally found in 1996, it was held by a museum and later by Fossilogic LLC, who finished and displayed it in 2024–25.
Economic Times
19 hours ago
- Science
- Economic Times
Rare juvenile dinosaur 'Ceratosaurus' fossil sells for $30.5 million at Sotheby's auction
Reuters Juvenile Ceratosaurus fossil sells for $30.5M at Sotheby's auction A rare juvenile Ceratosaurus fossil believed to be the only one of its kind sold for a jaw-dropping $30.5 million at Sotheby's on Wednesday(July 16).The fossil, uncovered in 1996 at Bone Cabin Quarry in Wyoming, is one of only four known Ceratosaurus skeletons ever discovered and the only juvenile among them. Measuring over six feet tall and nearly 11 feet long, the 150-million-year-old relic includes 139 fossilized bone elements, 57 of which form what Sotheby's calls a 'superb, virtually complete skull.'Described by the auction house as 'one of the finest and most complete examples of its kind ever found,' the dinosaur far surpassed its $4 million to $6 million pre-sale estimate during a dramatic six-minute bidding war between six participants. It previously spent over two decades on display at the Museum of Ancient Life in Utah but has never been formally studied in scientific nasicornis was a carnivorous dinosaur known for its distinctive nasal horn, long teeth, and bony armor along its spine and tail. The species roamed North America during the late Jurassic Sotheby's says the unnamed buyer intends to loan the fossil to an institution, paleontologists remain cautious. 'Who has that kind of money to spend on a dinosaur? Certainly not any museums or educational institutions,' said Steve Brusatte, a paleontology professor at the University of Edinburgh. 'My fear is that this skeleton will disappear into the ether into a mansion or a bank vault.'Still, auction officials argue the private market can play a vital role in preserving and promoting scientific specimens.'These stellar results underscore a deep and enduring fascination with the natural world,' said Cassandra Hatton, Sotheby's global head of science and natural history. 'What draws collectors is more than a passion for science; it's curiosity about the forces that shaped our planet.' The sale follows a trend of surging fossil prices, including last year's record-breaking $44.6 million sale of 'Apex,' a Stegosaurus skeleton that now resides at the American Museum of Natural History. 'Bottom line,' said Brusatte, 'a world where dinosaur skeletons can fetch tens of millions of dollars is not a world where dinosaurs will long be accessible to educate and inspire everyone.'
