Toronto The HUB | 258.46m | 59s | Oxford Properties | Rogers Stirk Harbour

'Toronto is on fire': Canada's biggest office market seeing surge in demand as workers return​


Toronto-downtown-vacancy.png
 
...I don't think there's enough there to see this tower built anytime soon.
 
Obsidian said:

'Toronto is on fire': Canada's biggest office market seeing surge in demand as workers return​

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I've been reporting on this for a bit now......

As their graph shows, that description is apt for AAA/Trophy space (sub 5%) ....but the overall office market ,even downtown is not on fire, in that there is still surplus space in broader A,B and C classes.

The inconsistency between the headline and the content isn't the only problem......Can anyone else spot the it?

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I lament the state of math in our times.....

UtakataNoAnnex said:
...I don't think there's enough there to see this tower built anytime soon.
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There is an acute shortage of AAA space now; so the conditions are actually quite ripe, whether or not it's this project that picks up that ball is TBD but chances are better than 50/50 that one project gets the green light this year. But anything that does won't be ready before 2030 in all likelihood.
 
Northern Light said:
There is an acute shortage of AAA space now; so the conditions are actually quite ripe, whether or not it's this project that picks up that ball is TBD but chances are better than 50/50 that one project gets the green light this year. But anything that does won't be ready before 2030 in all likelihood.
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...oh right, the yellow line in that graph. NM then. >.<
 
Northern Light said:
There is an acute shortage of AAA space now; so the conditions are actually quite ripe, whether or not it's this project that picks up that ball is TBD but chances are better than 50/50 that one project gets the green light this year. But anything that does won't be ready before 2030 in all likelihood.
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That’s why I’m not a fan of threads like this being bumped by that post. It was very generic and speculative, and didn’t really have anything to do with the building itself. It probably would have been better suited to the real estate thread or something similar.
 
innsertnamehere said:
If you think it's going to be this building, unlikely. It's going to need unique security perimeters that will likely necessitate a custom-build complex somewhere.
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I was thinking East Harbour lands or surrounding area around it being near that transit hub. Or maybe somewhere where near an airport like Pearson etc.
 
Lenser said:
Don't forget telling the forum how it should be run!
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...we're all pretty much all guilty of that one at times. Thankfully, Mr. 42 and the admin usually have the last opinion on that. <3

GenerationLee said:
Does someone need to crack out a ruler around here? A totally vaporware ruler...
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...I am pretty sure this proposal is real. Just not ready to go forward as of yet.
 
Northern Light said:
There is an acute shortage of AAA space now; so the conditions are actually quite ripe, whether or not it's this project that picks up that ball is TBD but chances are better than 50/50 that one project gets the green light this year. But anything that does won't be ready before 2030 in all likelihood.
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Given significant increases in construction costs, isn't there a fairly large viability gap? Vacancy is dropping but lease prices have been pretty flat since 2020 haven't they? Whats break-even on a major office development now? Net $65+/sqft?
 
rbt said:
Given significant increases in construction costs, isn't there a fairly large viability gap? Vacancy is dropping but lease prices have been pretty flat since 2020 haven't they? Whats break-even on a major office development now? Net $65+/sqft?
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AAA properties, when space becomes available, are going for between $85-$100/ft2.

At those numbers, new builds could make sense.
 
This was mentioned a short while ago when the banks ordered everyone back to the office, and the idea was shot down by a couple on this forum. It's looking more and more like new construction will proceed sooner than a lot of people thought
a couple of months ago.
 
a part of me is surprised national bank financial has not built a new massive office tower in the city. they built there new tower in Montreal they have a new one in Vancouver they just slapped there name and logo on a tower in Edmonton i for one would love the idea of the hub becoming a new office for them and they move out of the other building in Toronto into here.
 
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