Toronto 16 York | 154.83m | 32s | Cadillac Fairview | a—A
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Miscreant
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Yes.
G.L.17
Senior Member
ProjectEnd
Superstar
Interesting. I wonder if CF has had some interest and are moving forward on that basis. There are potentially big changes to the office market in the next few years and this, if what I've heard is true, is a serious gamble.
Miscreant
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Fantastic. This is a missing link in this area. It doesn't have Bay Park stature, but it's solid filler and will really bring out the canyon here.
Waterloo_Guy
Active Member
They announced some time ago that they're building on spec, so this isn't news. Demand is very strong, so there isn't much of a gamble here. You can read their rationale here:
https://www.bisnow.com/toronto/news...fairview-is-building-16-york-st-on-spec-71953
maestro
Senior Member
Technology has a proven boom bust track record. They are a key driving force behind the office boom. It's definitely a gamble if they don't have someone ready to sign on. What's the sudden rush otherwise? Unfortunately, we can only speculate on that answer.
Waterloo_Guy
Active Member
CF doesn't gamble. This was prompted by unusually strong demand. And as the article I linked above notes, CF has been talking to potential tenants.
maestro
Senior Member
Building on spec is gambling. Ask Ivanhoe about Eighth Avenue Place in Calgary. Similar situation back in 2006/07. Super high demand with many potential tenants. There were also a ton of competing proposals like in Toronto. They didn't land a tenant and the market ended up tanking. They lost.
Only Cadillac Fairview knows the degree of speculation here. They could have someone. All articles have a large degree of salt to them. They are for marketing rather than giving an informative update. The two don't always see eye to eye.
Only Cadillac Fairview knows the degree of speculation here. They could have someone. All articles have a large degree of salt to them. They are for marketing rather than giving an informative update. The two don't always see eye to eye.
ProjectEnd
Superstar
I'm well aware that it's a spec build - what I'm talking about is related to what could happen in the next couple of years to the office market as a whole.
Waterloo_Guy
Active Member
Well I can't imagine that CF knows the office market as well as you do. Perhaps you should give them a call to let them know.
maestro
Senior Member
Doesn't mean they aren't infallible or their decisions can't be questioned. May as well shut down urbantoronto with that attitude.
Automation Gallery
Superstar
Gee isn't this 3yrs from being complete??...lots of time to find an anchor tenant
As maestro indicated one only has to look to Calgary to see what can happen with spec builds. In Calgary buildings WITH tenants are opening basically empty.
mcmcclassic
New Member
This is one from a few days ago but at least I'll have access to this vantage point for the next while:
