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CIBC Square 
45 Bay Street, Toronto
Developer: Hines, Ivanhoé Cambridge

CIBC Square | 241m | 50s | Hines | WilkinsonEyre

Discussion in 'Buildings' started by Suicidal Gingerbread Man, Sep 15, 2006.

  1. J. Will over on Skyscraperpage posted this....
    :eek (this would be better place for the "spit-take" emoticon..why don't we have one?)

  2. Now obviously if there is anything to come of this, it is in its early stages. I can speak for its authenticity.

    J Will responded to skepticism.

  3. Ed007Toronto

    Ed007Toronto Guest

    Like the design. If its true I'd rather have it further north. It would stand out on the skyline way too much this far south.
  4. You think so? From the West it would appear almost behind CN Tower, as well as Maple Leaf Square, which is also of respectable height. It would totally throw off perspective coming from the East as well as from the Islands, though.
  5. Must be one hell of a home office.
  6. rdaner

    rdaner Guest

    Fresh Air

    After seeing nothing but badly designed high rises in the Middle East for two months, this is a nice change.
  7. alklay

    alklay Guest

    Re: Fresh Air

    I am not sure this does anything for me. It looks like a thin John Hancock.
  8. paulbali

    paulbali Guest

    Re: Fresh Air

    Looks great, but is it for real?
  9. Re: Fresh Air

    I will believe it when I see the planning documents. However, I wouldn't mind a tower like that in the spot.

  10. i really like the design, and there's always been talk about a big commercial building on the site, but i'm skeptical as to whether this is a real proposal, or if it was just a fantasy drawing.

    that said, there has been some work done on that site recently. they've shrunk the size of the parking lot, and it looks like they're getting ready to put in new sidewalks and landscaping along the south side of it
  11. caltrane74

    caltrane74 Guest

    not bad.....
  12. roch5220

    roch5220 Guest

    they have to get rid of that parking lot. Could it possibly just be holding space for a smaller structure in the future?
  13. This looks like an exciting project. It's exactly the kind of thing that should be located on that site. I'd be thirilled if it turned out to be real.

    I just don't people on these forums who go crazy every time a rumour is posted. I can't understand why it makes them so angry. If I just wanted to hear about projects that were already released, I could read newspapers and the City website. The great thing about a forum like this is that we can hear little details before a project is announced.
  14. Mike in TO

    Mike in TO Guest

    This is not a proposal.

    I received a package from CB Richard Ellis Limited back in May with that 'fantasy' rendering on it suggesting what could be done with the site. The site was for sale and to help promote the sale of the property a flashy rendering was attached to the front of the document.

    I posted something on this several months ago regarding the potential density for the site, but neglected to include the fantasy rendering simply because it wasn't actually a propsed tower.

    Some text from the Document distributed back in the spring:

    "CB Richard Ellis Limited ("CBRE") has been retained on an exclusive basis to arrange the sale of 45 Bay Street, Toronto, a premier development site located south of Union Station on
    the east side of Bay Street in downtown Toronto’s Greater Core (the “Propertyâ€). At 2.3 acres, the Property offers investors an opportunity to acquire a large, strategically located development property with outstanding access to transportation amenities and the Financial Core."

    45 Bay Street is currently zoned for approximately 1.2 million square feet of office density. The size and strategic location of the Property support a wide range of uses and unique development opportunities.

    Bay Street is Canada’s most prestigious professional address and headquarters to the country’s top financial and legal institutions. The Property represents an ideal opportunity to purchase one of Toronto’s premier development sites, with an enviable Bay Street address.

    Sales of high-rise condominium developments across the GTA have been trending upward year over year since 2000. In fact, builders that traditionally focused only on low-rise projects are beginning to favour high-rise development due to the shortage of low density residential sites.

    After peaking at 12.0% in 3Q 2003, Financial Core vacancy rates have experienced a sharp decline due to positive leasing fundamentals. Following a 610 basis point improvement, office vacancy rates are now at lows not seen since 2001. Declining vacancy rates, positive absorption and increasing fundamentals are projected to continue.

    45 Bay Street offers superior transportation and access due to the Property’s strategic location. Union Station, adjacent to west, handles an estimated 160,000 train and bus passengers daily and provides access to the TTC’s University and Yonge subway lines and services the GTA’s surrounding communities. Vehicle access to the Property is also superior due to its connection to Lakeshore Blvd. and the Gardiner Expressway immediately to the south

    The availability of developable land inventory across the GTA in general, and the subject Property in particular, is rapidly declining. The Province’s Greenbelt legislation has severely restricted land supply and development opportunities across the entire region. Recently completed, ongoing and planned residential and commercial development opportunities around the Property have further reduced development opportunities in the surrounding area.

    Over the past several years, ongoing development in the area surrounding the Property has led to further improved amenities and services for nearby residents and tenants. With additional commercial and residential developments in the area, in conjunction with immediate proximity to the Financial Core, Entertainment District and Harbour Front all support the Property’s anticipated success under a variety of development scenarios and uses.
  15. spmarshall

    spmarshall Guest

    LOL. What a load of John Hancock.

    Though I like the design. Though we're going to get, of course, a green glass semi-curved tower, or a cheap podium and precast tower. You heard it from me first.

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