Looks like First Gulf made out big here. Didn’t they buy this site for pennies a few years ago? Lots of value created with little in real risk..
First Gulf was always sort of “over their heads” here - this complex will rival the size of many major market’s entire office stock. Cadillac Fairview...
It’s small, but it exists :)
It’s never busy either, it doesn’t seem like there’s huge demand in the area.
Sunny side is a relatively short bike ride away too..
Toronto is spoiled with outdoor pools in general if you ask me. Most cities with our climate have only a handful of outdoor pools...
The initial application requested 5 additional floors, which resulted in the 192m height. The applicant later revised the project to have only 3 additional floors, as well as a reduction in the mechanical penthouse height by 1m.
This results in a 55 storey building with a height of 185.85m.
There are 700 jobs in Markham, in an office that opened just over a year ago. I'd be surprised if they are moving all those jobs downtown just like this.
Most likely this is the landlord looking to add some space while retaining GM as a tenant for the next 10-20 years, with long term master...