Filip
Senior Member
300,000 sqf in a tower of this size isn't too impressive. Must be a small HQ.
Teachers is taking 250k sqf for comparison in 160 Front.
Teachers is taking 250k sqf for comparison in 160 Front.
Toronto 191 Bay | 301.74m | 64s | QuadReal | Hariri Pontarini
- Thread starter Automation Gallery
- Start date
It still seems perverse to me that this tower would be the exact same height as BMO Tower at FCP. Apparently it's all about shadows on St. James Cathedral, but there's got to be a corner—SW I would image—where they could push this to 300 m.
(In the end, I'm still not sold on this as being a great design anyway, and I would like to see the design evolve a bit.)
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(In the end, I'm still not sold on this as being a great design anyway, and I would like to see the design evolve a bit.)
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Amare
Senior Member
On a side note, can this city hurry up and finally do away with the unnecessary IMIT in the downtown core? All these councillors seem to be doing these days is talking and "studying" various proposals including the abolishment of this tax break program, but it's really time do away with this program. This project would have been just fine without it.
Filip
Senior Member
This is actually pretty wild. This means they’re likely serious about starting construction as soon as CIBC vacates CC south and east. This means by summer of 2020 this should be breaking ground. Perfect runway time from now to get more tenants. I wonder what the HQ 300k sqf tenant is.
From now until then I hope they acquire the balance of the properties on Yonge and possibly shift the tower over, slightly slim it and tack on a few floors.
From now until then I hope they acquire the balance of the properties on Yonge and possibly shift the tower over, slightly slim it and tack on a few floors.
Filip
Senior Member
I should add by breaking ground I mean demolition. I will miss those buildings as they’re an excellent product of their time and complete the court part of commerce court really well.
This tower, as currently intended, will compromise that. My only complaint.
This tower, as currently intended, will compromise that. My only complaint.
travis3000
Active Member
Nice to see some movement on this tower. What a busy time for office development downtown. We have CIBC Square under construction, 16 York St under construction, The Well office tower under construction, 160 Front St confirmed to go ahead and start construction in January 2019. Bay Adelaide N has apparently landed a lead tenant and will begin construction soon. Now we are hearing rumblings of this monster too? Yikes!
raptor
Senior Member
Seems bizarre that the restaurant Walrus only recently opened after major renovations in CC south. Will someone be compensated for this investment? Or rather, in the grand scheme of things, the capital costs of building a restaurant are relatively low...
Automation Gallery
Superstar
Don't forget The HUB that will most likely have city approvals by early next year and will be built on spec with completion by 2022, now all we need is Union Centre to find a lead tenant and we can start dreaming of Union Park..haha
koogle
New Member
For sure there will be compensation, it's all in the contract. They'll just have to build the restaurant again, here or somewhere else, oh well.
am29
Active Member
Maybe it’s BMO that’s needs some more space but they don’t want to give up FCP and that’s why the heights are the same? Otherwise it makes very little sense to just match the exact height of another building for the sake of it..
maestro
Senior Member
They gave up FCP decades ago.
ericmacm
Active Member
Good to hear that this is a little closer to moving forward. I'm wondering who the tenant is. Part of me thinks it's another bank. My money is on HSBC looking for a new Toronto office.
Contra
Senior Member
Does HSBC have the presence in Canada to opt for a larger space?
Automation Gallery
Superstar
Ugh, 7th largest bank in Canada
Filip
Senior Member
With their principal offices in Vancouver.
So unless they're leaving Vancouver, no.