Toronto Eaton Centre (Ongoing Renewal) | ?m | ?s | Cadillac Fairview | Zeidler

nightstreak said:
If I recall from spelunking through development applications on the city website, there was (is?) a proposal to build towers south of 250 Yonge on the parkade. That's probably on ice with the condo downturn, but it won't be long before it re-emerges.
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Was killed because it was going to need parking spaces from the existing parking lot (before the City's parking minimums were axed) and the retailers in the mall were not interested in giving up any spaces at all to the new tower, which their contracts with CadFair guarantee).

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With so much being written lately about how Green P garages have huge vacancy rates, you’d think that parking was less in demand than what the car lobby makes it out to be. Any time I’ve been in that garage, it’s been a bowling alley.

It’s a real estate gold mine for CF waiting to happen at the next condo boom. It could be redeveloped in sections with 5 stores on each floor being relocated at a time. It would do wonders for Yonge Street.
 
nightstreak said:
With so much being written lately about how Green P garages have huge vacancy rates, you’d think that parking was less in demand than what the car lobby makes it out to be. Any time I’ve been in that garage, it’s been a bowling alley.

It’s a real estate gold mine for CF waiting to happen at the next condo boom. It could be redeveloped in sections with 5 stores on each floor being relocated at a time. It would do wonders for Yonge Street.
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Can we get accurate, untainted parking data from somewhere? I’m curious. I doubt CF would release anything unless it helped their case to develop this.
 
xmyth_ said:
Can we get accurate, untainted parking data from somewhere? I’m curious. I doubt CF would release anything unless it helped their case to develop this.
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Matt Elliott put out a report with links to city numbers. They're available on the city's website if you search for it. Private parking lots aren't included but when nearby city lots are 50-80% empty then you know the more expensive private lots have got to be hurting. I wouldn't park at Eaton Centre, I'd park under Dundas Square or at Nathan Phillips.
 
nightstreak said:
Matt Elliott put out a report with links to city numbers. They're available on the city's website if you search for it. Private parking lots aren't included but when nearby city lots are 50-80% empty then you know the more expensive private lots have got to be hurting. I wouldn't park at Eaton Centre, I'd park under Dundas Square or at Nathan Phillips.
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Is the cost between those lots disparate?
 
nightstreak said:
With so much being written lately about how Green P garages have huge vacancy rates, you’d think that parking was less in demand than what the car lobby makes it out to be. Any time I’ve been in that garage, it’s been a bowling alley.

It’s a real estate gold mine for CF waiting to happen at the next condo boom. It could be redeveloped in sections with 5 stores on each floor being relocated at a time. It would do wonders for Yonge Street.
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It's not though.

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nightstreak said:
With so much being written lately about how Green P garages have huge vacancy rates, you’d think that parking was less in demand than what the car lobby makes it out to be. Any time I’ve been in that garage, it’s been a bowling alley.

It’s a real estate gold mine for CF waiting to happen at the next condo boom. It could be redeveloped in sections with 5 stores on each floor being relocated at a time. It would do wonders for Yonge Street.
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@ProjectEnd 's point above is a trump card here; but to the extent you could try to squeeze something narrow in, maybe, you need to know that many retail and office tenants at TEC have covenants protecting a minimum amount of parking on site, both reserved and public.
 
Northern Light said:
@ProjectEnd 's point above is a trump card here; but to the extent you could try to squeeze something narrow in, maybe, you need to know that many retail and office tenants at TEC have covenants protecting a minimum amount of parking on site, both reserved and public.
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I don't have a number, but it sounds like this informed the decision not to proceed in the past:
interchange42 said:
Was killed because it was going to need parking spaces from the existing parking lot (before the City's parking minimums were axed) and the retailers in the mall were not interested in giving up any spaces at all to the new tower, which their contracts with CadFair guarantee).

42
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ProjectEnd said:
It's not though.

View attachment 700119
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Residential doesn’t have to be vertical. On its side, the parkade is about equivalent to the 60 story Massey Tower across the street, on its side. It’s the length of an entire city block. You could fit 1.5 KING Torontos on this parkade.

Moreover, height isn’t prohibited here entirely as there’s still clearance for a large tower.

Northern Light said:
@ProjectEnd 's point above is a trump card here; but to the extent you could try to squeeze something narrow in, maybe, you need to know that many retail and office tenants at TEC have covenants protecting a minimum amount of parking on site, both reserved and public.
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Fair, but that calculation begins to change entirely once the Ontario Line is open and Yonge and Queen is the highest traffic interchange station on the network — not to mention the thousands of residents who would be pitched to retailers as their prospective live-in patrons.

There’s of course the possibility of building parking underground financed by such a valuable piece of real estate but I suspect that anyone living here wouldn’t want to drive anyway.
 
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