Toronto 100 Queens Quay at Sugar Wharf | 117.34m | 25s | Menkes | B+H

navyblue said:
i always thought it would have been a good investment by MLSE to buy that parcel for the inevitable replacement for ACC. waterfront, close to public transport, close to some of thier properties already.
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A good piece of land for a replacement of the ACC would have been the land that they used to develop their pathetic Maple Leaf Square complex. MLSE doesnt have that kind of foresight and they're more concerned about making money instead of what will happen in the future. The only option that they'll have in the future is building on the same site if they want to stay in the core.

As for the actual sale of the lands, i'm pleased it didnt go into the hands of a developer like Concord, Greenland or some other lack of foresight developer. I thought the province would've got a bit more for these lands, but there was probably a bunch of provisions and conditions like someone above mentioned.
 
Amare said:
A good piece of land for a replacement of the ACC would have been the land that they used to develop their pathetic Maple Leaf Square complex.
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They, neither, owned that site nor did they develop it on their own....the project was brought to them and they partnered with two groups that were never gonna sit on that site as vacant land in case, maybe, some day MLSE needed a new arena....and, the site is/was no where near large enough for an arena.....aside from that yeah, sure MLSquare should never have been built :(

I think the ACC will have a much longer life than most modern arenas/sports facilities....since it was built, MLSE has been on a constant program of investment and upgrading (I think the number is over $100 million reinvested since it opened) it seems they are intent on making it their "forever" home.

Amare said:
As for the actual sale of the lands, i'm pleased it didnt go into the hands of a developer like Concord, Greenland or some other lack of foresight developer. I thought the province would've got a bit more for these lands, but there was probably a bunch of provisions and conditions like someone above mentioned.
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It will likely yield less value in development than other sites and we already know they do not have a free hand in what tenants they sign up (LCBO being there was part of the deal)....so, yes, there are restrictions.
 
Big Daddy said:
For 11 acres located here, yes.
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It would seem that Menkes (and the multiple other companies that submitted bids) looked at the economics of the land, and what you can do with it, and disagreed with you....market value is best determined by the market.
 
Southcore said:
Well Mizrahi paid $300M for 1 Bloor West (and surrounding properties) and Kingsett outbid Lanterra for 2 Bloor West/Cumberland Terrace and paid over $330M.
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Gleamed from articles, huh? Mizrahi didn't pay $300 million for the 1 Bloor West properties although the deals he made will end up costing him as much or more. Whether someone wants to believe a blurb in an interview about being outbid or not, 2 Bloor West/ Cumberland Terrace has valuable improvements on its site.

I suspect the price tag here includes more than just the sales price for the property too.
 
Factors possibly affecting the sale price:

- We don't know what level of remediation will be required on the site, but it's infill land so it's to be expected that at least some will be
- The (presumed) mandate to construct a 2-acre park
 
I am impressed the architecture made sure the office building is a perfect square, with absolutely nothing that deviates from the typical Toronto-esque flat-top box default design.
 
It's almost like architects and developer know that a square/rectangle is the most efficient shape for an office building.
 
ksun said:
I am impressed the architecture made sure the office building is a perfect square, with absolutely nothing that deviates from the typical Toronto-esque flat-top box default design.
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I guess an imperfect square would have four equal sides?
 
Filip said:
I really hope that's not the design. That's almost insulting.
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Insulting would be something like that hotel in Laval. This looks like a perfectly fine office tower, most cities are filled with plenty like it.
 
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