Toronto East Harbour | 214.2m | 65s | Cadillac Fairview | Adamson

torontologist said:
Or even better, they divide it into parcels and sell them off one by one.

Master planned multi-block developments like this rarely turn out well, especially with a single developer…
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They will probably partner with Residential developers for the residential buildings/blocks. Part of the issue with these large developments is they don't get built all at once so you have a lot of interim conditions and long timelines to complete, which will vary each block as they get designed to be built.

I would say that a masterplan is considerably better than if it was a piecemeal of developers etc that wouldn't talk to each other and do whatever they'd like. This way there is at least thought into the public realm, parks, transportation etc. True not always pretty, but I would say much better at least in newer developments.
 
If Covid didn’t tank office leasing, would we have seen far more progress than what we currently have?
 
jsmith77 said:
If Covid didn’t tank office leasing, would we have seen far more progress than what we currently have?
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Maybe.

No side: Several downtown office projects were having a hard time finding tenants in 2019 despite a much superior location. East Harbour isn't cheaper or better served by either transit or roadways. It has value when south-core and financial district are full, but there are still several potential office tower locations within walking distance of Union.

Yes side: To build excitement and turn East Harbour into an actual place, CF may have signed the first building or 2 at low lease rates (very near cost) to a current major downtown tenant.
 
rbt said:
Maybe.

No side: Several downtown office projects were having a hard time finding tenants in 2019 despite a much superior location. East Harbour isn't cheaper or better served by either transit or roadways. It has value when south-core and financial district are full, but there are still several potential office tower locations within walking distance of Union.

Yes side: To build excitement and turn East Harbour into an actual place, CF may have signed the first building or 2 at low lease rates (very near cost) to a current major downtown tenant.
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That's the exact strategy Olympic & York tried in Canary Wharf in the 1980's which ended up sinking their entire company. Gave sweetheart leases to get a critical mass, but never got the money making leases later..
 
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👋 February 3rd 2023
 
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So what's the next step after leveling the ye ole soap factory? And since the interest in office towers seems to have bottomed out...are they planning to leave this as a graded brownfield land for the ages?
 
UtakataNoAnnex said:
So what's the next step after leveling the ye ole soap factory? And since the interest in office towers seems to have bottomed out...are they planning to leave this as a graded brownfield land for the ages?
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CF will likely do the residential component and hope to wait it out until the office market improves.
 
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