Toronto INDX Condos | 178.6m | 54s | Lifetime | P + S / IBI

Any 55-floor tower proposed downtown that is more than just a typical condo instantly peaks my interest! Excited to see what they come up with here.
 
If I'm reading this correctly, this has nothing to do with Blackstone, 56 Temperance or Sterling. 70 Temperance is the former Sapphire site which Skyline International was recently planning a 190 metre tower sometimes refer to as "Canada Tower" or "Skyline Tower". I wouldn't count on it either.
 
If I'm reading this correctly, this has nothing to do with Blackstone, 56 Temperance or Sterling. 70 Temperance is the former Sapphire site which Skyline International was recently planning a 190 metre tower sometimes refer to as "Canada Tower" or "Skyline Tower". I wouldn't count on it either.

Yup, you're right. This is the Sapphire site, which was previously 66 Temperance. Mods, can you merge this?

Why wouldn't you count on it maestro?
 
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I wonder if the city would allow it, or if the shadowing concerns over NPS would kill it. Really, it would be hard to argue against it when BA is right across the street, but in this city you never know

Harry Stinson had the right to building 50 storeys. He wanted 80 and that's why his plan was rejected. I'm sure 55 will be OK.
 
There's no way this will fly ... not for a few years - and then maybe talks / negotiations for tenants will begin. There's a lot of inventory available in the older stalk of class AAA buildings downtown ... and a lot of hit is going to hit the market in the next 1 - 2 years.

I mean buildings like Commerce Place / BCE / Royal Bank / FCP ... buildings which in the past had limited space available will now have full floor opportunities ... not just a few full floors - I'm talking about 10 or so ... in each (if not more if you combine the other space).

Enough that there now exist large enough contiguous blocks of space in AAA buildings, probably in the 100-200 thousand square feet range.

We can dream I guess..
 
^First and foremost, It's not an office building. I don't see them building more than 10% of the total footage as office condo units if they do end up building incorporating office space in this development. I don't think it's coincidence Skyline is suddenly selling off the Cosmopolitan Hotel units. That cash flow will come in handy here.
 
I never even knew this project existed!

It will be very interesting to see where this project goes from here... of course we may never see something as huge as Sapphire within the next decade but as long as they come up with something special i'm in! :D
 
from today's Daily Commercial News......

CONDO APARTMENT BLDG, COMMERCIAL OFFICE, RETAIL Proj: 9074840-9

Toronto, Metro Toronto Reg ON WORKING DRAWINGS
70 Temperance St, Bay and Richmond Sts, M5H
$50,000,000 est

Start: June, 2011 Complete: 2012

Note: City Council site plan approvals are in place. Preliminary Working drawings are underway. Owner expects tender for Gen Cont Spring, 2011. Construction is expected Summer, 2011. Further update Spring, 2011.

Efficiency Engineering Ltd is the LEED Consultant on the project. Address for the project has changed.
Project: structural steel frame, fuel fired heating system, proposed construction of a mixed-use building. The project will be 55 storeys and may include commercial and office space and a residential component. This building will be an environmentally friendly project designed to achieve LEED Gold certification.

Scope: 400,000 square feet; 55 storeys
Development: New
Category: Commercial offices; Retail, wholesale services; Shopping centres, plazas, malls
 
The $50m pricetag still seems a little low to me. Especially considering the property alone costed them $30m+
 
^The whole DCN entry seems vague and unrealistic. They have no idea of what's going to be in it - residential, commerical or retail. Clearly plans and financing are not really finalized yet, so construction in 2011 is probably unlikely.
 

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