Toronto Corus Quay | ?m | 8s | Waterfront Toronto | Diamond Schmitt

Everytime I have gone it's always been busy.

The first time I went was a Saturday night around 7, I thought it would be dead because it was the weekend and didn't expect people to come since at this point the area is still growing, but it was packed, and couldn't get a table on the patio.
 
I dined at Against this past Wed for the first time and thoroughly enjoyed it. Nice burger and beer special ($15) and what is in my opinion one of TO's best patios. Service was a bit slow, but I'm not complaining when I'm sitting on the waters edge watching the sun set. Nice little spot, really liking Sugar Beach/Sherbourne Common, hats off to WaterfrontTO.
 
It definitely is a wonderful location. I would love to see similar type patios along the waterfront. When I was there last week taking photos of George Brown, it was packed. It reminds me of PORT on Frenchman's Bay in Pickering.
 
Corus Quay waterfront building sold to H&R REIT for $186M

Corus Quay, the downtown Toronto waterfront property that houses the head office for Corus Entertainment Inc., has been sold to H&R Real Estate Investment Trust for $186 million.

Corus Entertainment had purchased the property from the municipal government-owned Toronto Port Lands Co. on Monday, and immediately resold it to H&R for the same amount, the company said.

Corus Entertainment will continue to be the main tenant at the eight-storey building located at 25 Dockside Dr.

As part of the deal, Corus Entertainment will extend its 20 year lease term at Corus Quay and have the option to renew.

The state-of-the-art building, which is the first major building on Toronto’s revitalized East Bayfront, was completed in 2010 and features ground-floor radio and TV studios, a green roof and a three-storey slide.
http://www.citytv.com/toronto/cityn...waterfront-building-sold-to-h-r-reit-for-186m

Toronto Port Lands Company Completes Successful Sale of Corus Quay
http://www.stockhouse.com/News/CanadianReleasesDetail.aspx?n=8449888
 
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Automation Gallery said:
Corus Quay waterfront building sold to H&R REIT for $186M
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Let's see how that deal worked out...

Total construction cost was $155 million, plus a $20 million property tax abatement, plus the value of the land. Even ignoring the value of the land, the city gets a return on its investment of $10 million, or about 1% annual return over 5 years, before interest costs. (And the people of Toronto get another ugly private building blocking the waterfront.)

In the private sector somebody would get fired. But TPLC gets a congratulatory press release from Mayor Rob Ford.
 
k10:

Ugly building? Well, it's not a masterpiece but calling it "ugly" is somewhat debatable. But blocking access to the waterfront? I don't think so - the area has never been more accessible - unless one's demand is anything south of QQ as green space.

The irony of it all is - I highly doubt that his worship actually voted to support the loan for the development. For him to congratulate TPLC/TEDCO for something he probably voted against...priceless.

AoD
 
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Not blocking access but blocking view.

Maybe I was a bit too grumpy. While I would prefer parkland south of QQ, I guess the taxpayer didn't want to pay for that. It is true this project is not bad in itself, just disappointing.
 
k10ery said:
Not blocking access but blocking view.

Maybe I was a bit too grumpy. While I would prefer parkland south of QQ, I guess the taxpayer didn't want to pay for that. It is true this project is not bad in itself, just disappointing.
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Blocking the view from WHERE? The Gardiner? The sugar refinery? GBC's health campus? (Oh, wait...)

For the love of God, the number of people on this forum (a forum for urbanists and construction enthusiasts) who would put a lawn over the whole city is priceless!
 
k10ery said:
Let's see how that deal worked out...

Total construction cost was $155 million, plus a $20 million property tax abatement, plus the value of the land. Even ignoring the value of the land, the city gets a return on its investment of $10 million, or about 1% annual return over 5 years, before interest costs. (And the people of Toronto get another ugly private building blocking the waterfront.)

In the private sector somebody would get fired. But TPLC gets a congratulatory press release from Mayor Rob Ford.
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C'mon. I might complain about Build Toronto/Toronto Port Lands Co. as much as the next guy, but the fact they're positive cashflow on this is just fine. It has kick-started the renewal of a largely dilapidated part of Toronto and adds all kinds of benefits to the city.
 
Its about what it does to future development in the area. Getting a first large tenant in the middle of nowhere is important and does require a concession on price. Now they have more leverage for other buildings they will be looking to build and rent out.
 
k10ery said:
In the private sector somebody would get fired. But TPLC gets a congratulatory press release from Mayor Rob Ford.
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Yah you're absolutely right. Someone taking a risk to be the first to build on land in the "middle of nowhere", that would be worth nothing if it weren't for them taking that first step, and making a profit in such a short time. Yup that person would get fired.
 
Riverdale Rink Rat said:
Blocking the view from WHERE? The Gardiner? The sugar refinery? GBC's health campus? (Oh, wait...)

For the love of God, the number of people on this forum (a forum for urbanists and construction enthusiasts) who would put a lawn over the whole city is priceless!
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Dude, if you think the 20 m between the lake shore road and the lake shore is naturally supposed to be covered in asphalt and building, you have been living in Toronto too long.
 
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Thanos said:
Yah you're absolutely right. Someone taking a risk to be the first to build on land in the "middle of nowhere", that would be worth nothing if it weren't for them taking that first step, and making a profit in such a short time. Yup that person would get fired.
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There was no profit. That's the point. They took public money, they ran roughshod over the DRP to build a disappointing building, and THEY LOST MONEY. Get it?
 
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