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WislaHD

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Application Information Centre

Search for details about current planning applications and Minor variance and Consent applications. Application Information Centre For best results, please use the latest version of Microsoft IE/Edge, Google Chrome or Mozilla Firefox. As of July 30th, the Application Information Centre has...
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The proposed development consists of a 18,764 m² new 12 storey office building.
Proposed Use ---​
# of Storeys 10​
# of Units ---​
Type​
Number​
Date Submitted​
Status​
Applications:​
Site Plan Approval​
20 170883 WET 03 SA​
Jul 22, 2020​
Under Review​


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innsertnamehere said:
I’m surprised someone is going to build a 200,000sf office building here. My understanding is that the 427 office market is in terrible shape.
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Maybe not on spec then? I wonder if they'll just be trotting out the design of the previous three on the site again, or if we'll get something new here. (I don't really care, I might as well say…)

42
 
Interesting that they slapped their logo on it. Perhaps just a placeholder, as I doubt they are leaving their Bloor and Islington complex.
 
Why wouldn't they?

This seems like an odd play all around. It's in a crappy office market, and looks like a rather expensive design for a market with relatively low rents.

I really wonder what they are thinking here.
 
WislaHD said:
Interesting that they slapped their logo on it. Perhaps just a placeholder, as I doubt they are leaving their Bloor and Islington complex.
Click to expand...

Bloor Islington Place is fully leased so if they're looking to expand their footprint (which they very well might need to, as Starlight has been on an acquisition rampage for years now...) they would likely need to relocate. As I doubt they're undertaking a spec build given how soft leasing activity has been in the 427 corridor, it's possible this could be a new campus for them, which might explain their logos on the building. It would be easier to backfill their vacancy as Bloor Islington Place (given direct subway access) than it would to lease this building to an external user.
 
If Bloor-Islington Place is at full occupancy, why in the planet does Etobicoke City Centre stuggle so much at attracting additional office development in the area?

I understand the downtown office demand is strong, but I dont understand why we havent seen at least one proposal for a mid-sized tower here. I mean, asides from the city's ridiculous IMIT policy which needs to be restructured completely, I cant think of any other reasons.
 
Low leasing rates are probably due to the ancient, and space restrictive current supply. If Bloor-Islington Place is truly fully leased, I see no reason why a modern mid-rise office development similar to this couldnt attract a few tanants.
 
Amare said:
Low leasing rates are probably due to the ancient, and space restrictive current supply. If Bloor-Islington Place is truly fully leased, I see no reason why a modern mid-rise office development similar to this couldnt attract a few tanants.
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Bloor-Islington Place is an anomaly due to the direct connection to the subway. This is a significant draw for downtown tenants looking to relocate out of the core for cheaper office space, but require direct access to mass transit. Looking at the 427 corridor, which is similar to Bloor-Islington Place geographically but with poorer access to transit, vacancy rates float between 12-15% with lots of inventory.
 
^Exactly why the whole situation doesn't make any sense to me.

There is tons on potential for office in Etobicoke City Centre (ECC), more so than along the 427 corridor, only if the city would stop artificially limiting it with the IMIT program for starters. Commuters come in from Mississauga and from all places in Etobicoke which naturally makes it a hub. I mean where do they think all those commuters from the west-end of the city and GTA are coming from?

I can guarantee you if the city scrapped the program for the downtown core, and only applied it in the inner city centres the market dynamics would change quite substantially and we would be seeing this proposal closer to ECC.
 
The city did scrap IMIT though I thought. They gave a few exemptions for the projects going up right now but otherwise it’s dead.
 
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