GabrielHurl
Active Member
That seems high. Probably more in the $15m to $20m range.
Unless prices have completely skyrocketed since I left a few years back.
Toronto 260 Adelaide West | 196.8m | 61s | CentreCourt | Sweeny &Co
- Thread starter innsertnamehere
- Start date
That seems high. Probably more in the $15m to $20m range.
Unless prices have completely skyrocketed since I left a few years back.
Northern Light
Superstar
At only 144 spaces; 15M is north of 100k per parking spot.
I would certainly hope we're not looking at more than that!
GabrielHurl
Active Member
I was basing my calculation of the top end rate of $225/sf of buildable area for the parking area with 24,000sf floor plates.
A Torontonian Now
Senior Member
In addition to the money to build this today, what about future maintenance costs? It might be several decades, but there will come a time where it all needs to be torn out and redone similar to what happened at College Park. Have we not yet learnt that parks above garages are not a good idea?
bilked
Senior Member
College Park is exactly the precedent that I had in mind too. No thanks!
ProjectEnd
Superstar
In terms of new parking, there's also a TPA lot in Artists' Alley with between 75 and 125 spaces...
edwardtoronto
New Member
Besides the fact the this is nowhere near Met United, there is plenty of parking around Met United and a subway station, which (one sweet day) will also be an Ontario Line and Line 1 transfer station. As a potential park site, the part of the lot that is north of Met United church building, is rather small. It is also owned by United Church. And finally, as the redevelopment potential of the land is limited by height restrictions due to the Orange Medical Helicopter flight path to St. Mike's Hospital. The Church tried to redevelop the site years ago but felt the height limitations made it a non-starter, given the financial goals they had and the lack of developer interest.
Northern Light
Superstar
The site did have a developer, and went through the planning process.
The development did not go ahead, at the time.
There's an entire thread on that, here: https://urbantoronto.ca/forum/threads/toronto-metropolitan-the-114m-37s-lancer-developments.714/
As to size, excluding the existing space at the front of the church, maintained as a de facto park now; and the current buildings, the (mostly) parking area is 0.5ha, or about 1.25 acres.
That's not huge, but it's not such a bad size space for downtown.
Together with the green space fronting the church, the parcel is about 1ha, or 2.5 acres.
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edwardtoronto
New Member
Yes indeed but it ran up against the Orange flight path issue. The two former senior Ministers of Met United are friends of mine and they related the whole sorry tale to me. It would make a lovely park though. And the Church could use the money. Preserving and maintaining Met United is hella expensive.
Northern Light
Superstar
So you happen to know why sampling was going on at the north end of the property last year?
As per this post:
The Metropolitan | 113.99m | 37s | Lancer Developments
It could eventually occur.. but the building would probably have to lose 15 storeys. If you ask me, this would be a great spot for a new city park. The city could buy the land from the church and the church could use the money for a full restoration a la St Mikes. Exactly what I suggested back...
Northern Light
Superstar
A report headed to the March 8th meeting of CreateTO recommends (subject to negotiations) the potential redevelopment/disposition of 260 Adelaide West.
Report here: https://www.toronto.ca/legdocs/mmis/2021/ra/bgrd/backgroundfile-164367.pdf
Virtually nothing there, all confidential give or take a timeline leading up to this report.
I'm not overly pleased, and this is why.
1) As a premier City site, the public should have a say in what type/scale of development is contemplated here, BEFORE CreateTO enters into negotiations, not after.
Its unreasonable to present a fait complit to the public and then solicit input.
Clearly negotiations are not going to be in public; but the mandate for those negotiations (what's being considered in general) should be.
2) The site at 229 Richmond, acquired by the City, is being looked at for a park, sitting atop at Green P garage.
It would make much more sense to have the garage under the 260 Adelaide West site and leave the park unencumbered.
Report here: https://www.toronto.ca/legdocs/mmis/2021/ra/bgrd/backgroundfile-164367.pdf
Virtually nothing there, all confidential give or take a timeline leading up to this report.
I'm not overly pleased, and this is why.
1) As a premier City site, the public should have a say in what type/scale of development is contemplated here, BEFORE CreateTO enters into negotiations, not after.
Its unreasonable to present a fait complit to the public and then solicit input.
Clearly negotiations are not going to be in public; but the mandate for those negotiations (what's being considered in general) should be.
2) The site at 229 Richmond, acquired by the City, is being looked at for a park, sitting atop at Green P garage.
It would make much more sense to have the garage under the 260 Adelaide West site and leave the park unencumbered.
bilked
Senior Member
Given shadowing issues (and assuming one parcel is to be a park and the other high-rise), why would a park be built on the north parcel in the first place?
Northern Light
Superstar
Interesting question.
My first thought was to consider what development my occur south of the Fire Station.
But as it turns out; the building directly opposite is historically designated.
bilked
Senior Member
Good point. Protected, but also this: https://urbantoronto.ca/database/projects/263-adelaide-street-west
ProjectEnd
Superstar
This has been in the hopper for some time now. Is there not a thread about it already? News story from 2019:
urbantoronto.ca
City to Relocate Fire Hall and Unlock Land in Entertainment District | UrbanToronto
The City of Toronto is about to buy a plot of land in the Entertainment District, sell an adjacent one, and move the area's fire station into the south side of Metro Hall facing Wellington Street. The moves will unlock land in the area for redevelopment, and possibly some park land.