Toronto 16 York | 154.83m | 32s | Cadillac Fairview | a—A

[alklay]

I wish the tower's base did more to animate the street level with restaurants and/or shops.

 

[DSC]

This from: https://www.reminetwork.com/articles/construction-begins-on-new-479-million-toronto-office-tower/

New $479-million T.O. office tower begins to rise
Tuesday, March 7, 2017

Construction has begun on a new 32-storey office tower at 16 York Street in downtown Toronto, one city block away from Union Station.

Cadillac Fairview (CF) and the Ontario Pension Board (OPB) have partnered on the project that will rise at the southwest corner of York Street and Bremner Boulevard and connect to the PATH system, close to the Gardiner Expressway and Toronto’s waterfront.

Slated to open June 1, 2020, the building will target LEED Platinum specifications and WELL certification, and include three underground parking levels with 289 parking stalls and ground level retail space. About 879,000 square feet of first class office space is expected, along with a one-acre, green roof, elevated 40 feet above street level and an expansive courtyard adjacent to the building

CF is proceeding with site construction without first securing a major anchor tenant.

“I’m very proud that CF has played a key role in the evolution of the south core, and that we are now adding 16 York to this dynamic mixed-use district,” said CF President and CEO John Sullivan. “Ten years ago, when the area was vacant parking lots, we introduced its first building, Maple Leaf Square, which was the catalyst for approximately $4 billion of subsequent development.”

Toronto is experiencing near-record-low vacancy rates and CF sees continued demand for commercial office space along with a deep pool of prospective tenants.

“We continue to focus on acquiring real estate assets with innovative designs and leading sustainability features that align with our long-term investment horizon,” said OPB President and CEO Mark Fuller. “We are confident that 16 York will attract prime tenants and will provide us with an excellent return on our investment.”

Wayne Barwise, CF’s executive vice-president of development said the company isn’t pre-leasing due to market conditions and “superior qualities of the building and its location.” CF is currently in discussions with a number of prospective tenants who have expressed interest.

“Toronto’s class A vacancy rate of 4 per cent is among the lowest in North America and tenants are seeking the benefits that 16 York offers, including sustainability, efficiency, building intelligence, access to major transit options and local amenities,” he added.

 

[Southcore]

As an area resident since 2009, super stoked to see the completion of the Bremner Blvd canyon!

 

[Edward Skira]

Construction has begun

Is there actually people or equipment on site or are they exaggerating somewhat?

 

[stjames2queenwest]

I hope this does not decrease the chances of certain other projects going ahead sooner than later.

 

[DonValleyRainbow]

This is still the tallest and by far the largest building by GFA in southcore. I agree that it ideally would have been around 40 floors, but it is still a very large building.

Though Bay Park Centre is larger by 300K, and arguably just as Southcore (though not Marathon lands Southcore),

AoD

^Yea, I meant more so in the lands immediately surrounding Bremner and York. The Sun Life Tower is taller, and around the same size too. This will be much larger and taller than the Telus, PwC, and Marshall McLennan buildings, though, all three of which are closer to Union and have much easier direct PATH connections.

Existing and proposed office towers taller than 16 York in Toronto, from The 120 Metre List.

update: image updated.

 

[am29]

What are some alternatives that they could do to fix that? I assume it'd be better for them to get it right initially rather than creating that path connection then finding out it's a dead zone.

 

[interchange42]

The only other alternative would be bridges over York and/or Bremner, and those are unlikely to fly, as it were.

42

 

[maestro]

Existing and proposed office towers taller than 16 York in Toronto, from The 120 Metre List.

Square footage matters more than height. 1 York and 200 Bay stand out as possibly having less square footage. 44 Charles is residential as well.

 

[OakvilleGreg]

Existing and proposed office towers taller than 16 York in Toronto, from The 120 Metre List.

I would think that First Canadian Place should be included in the list...

 

[Waterloo_Guy]

This is awesome! I've long said that this is the most lucrative proposal from a tenant's perspective, and it's also been at the top of my wish list. This will be great for the neighborhood.

 

[taal]

Does allied have a rumor'd tenant for the well office building ?

 

[Waterloo_Guy]

Does allied have a rumor'd tenant for the well office building ?

Yes. Allied hinted at an anchor tenant for the Well tower, and also said there was interest in their Front Street tower. I'm unaware of any specifics.

 

[interchange42]

Apparently July is when construction is to start here.

42

 

[CITY_LOVER]

...And we are not done with boxy office towers either...when Bay-Adelaide III gets off the ground, it too will be bluish and boxy. I am hoping the other proposed office towers will offer more (visually-speaking) but you never know, we can always be subject to a design revision (downgrade)!