Toronto Hullmark Centre | 167.94m | 45s | Tridel | Kirkor

[sunnyraytoronto]

Speaking of washrooms, here's what the washrooms for offices of HullmarkCentre looks like,... most of the 12 office floors seems to be mostly done,... and the interior of the Grand Hall looks done,.... Rexall will have two entrances - one from inside the Grand Hall and other from outside where the curve is below the Hullmark Centre sign

 

[sunnyraytoronto]

Does anyone know what`s planned for the parking lot across from here directly next to the Emerald condos site...

As Automation Gallery stated,..... I'll just add,... The developer for south-west corner of Yonge & Sheppard has NOT put in an application (city still expecting OMERS-Nestle twin tower!). Can't blame them, office market sucks right now. Both HullmarkCentre and EmeraldPark sold out all condo before construction (actually EmeraldPark can't do math and had a few more condo to sell later),... anyways, now that both HullmarkCentre and EmeraldPark are basically just a few months from being completed,... it seems they still both have office space available!

 

[UD2]

I could be wrong, but my understanding is that the the parking lot across the street could get quite expensive to build on as a subway turning tunnel was built directly under the north east 1/3 of the lot to be used for an eventual subway extension west of Yonge. I had always thought the mirroring tunnel east of Yonge was the reason why Hallmark center have a public square at the corner of Sheppard and Yonge.

 

[sunnyraytoronto]

Actually, that subway turning tunnel from eastbound sheppard (west of Yonge current tail-track / storage area) to southbound Yonge is used to allow subways to transfer from Sheppard Stubway line to Yonge subway line where they can be serviced at Davisville subway yard if needed since Sheppard Stubway doesn't have its own subway garage-service facility. And the mirror tunnel under HullmarkCentre allows subway trans to return from Davisville yard back to Sheppard Stubway line.

Yes, the northbound Yonge to eastbound Sheppard subway turning tunnel is one reason for that public square at HullmarkCentre. But that 50 feet high cube shaped Grand Hall - office lobby for Hullmark Centre north tower office building is built directly over this subway turning tunnel. It's a relatively lightweight structure and the rest of the office tower is NOT built directly on top of the Grand Hall.

Buildings could be built directly over subway line; many examples as in Hudson Bay Centre at northeast corner of Yonge & Bloor built directly over the Bloor-Yonge interchange stations. Yes, its more expensive than otherwise because of the support columns needed build around the subway tunnel and generally more limited availability of underground space.

 

[ehlow]

Tried the new southern subway entrance. It's nice. Yes, it's just a new & clean version of the existing subway aesthetic, but I'm fine with that.

Re: the parking lot on the SW corner of Yonge & Shep, some retail/restaurants to liven up the street there would be nice, it doesn't have to be a large tower. Anything is better than a parking lot at that location.

 

[taal]

hmm, I'm fairly sure hullmark sold out all the offices ... so pretty sure your off base on that ... but that doesn't mean too much, they are office condos, very different market, think medial / small business / laywers ...

 

[innsertnamehere]

The TTC maintains 5 trains for Sheppard, given its unique 4 car setup. They park 1 at Davisville, and store 4 on the line itself. Only 4 are used in daily service, the one at Davisville is used as a "backup".

 

[sunnyraytoronto]

hmm, I'm fairly sure hullmark sold out all the offices ... so pretty sure your off base on that ... but that doesn't mean too much, they are office condos, very different market, think medial / small business / laywers ...

Hmmm,.... maybe you should let Hullmark know that they sold out all the office space at Hullmark Centre.

The Hullmark website for Office space availability has Hullmark Centre office space available both as office space for lease and office space for sale
http://www.hullmark.ca/?hullmark=Office&map

 

[taal]

Hmmm,.... maybe you should let Hullmark know that they sold out all the office space at Hullmark Centre.

The Hullmark website for Office space availability has Hullmark Centre office space available both as office space for lease and office space for sale
http://www.hullmark.ca/?hullmark=Office&map

Nah, I know for a fact they've sold quite a few of the offices, maybe not all, projects sites as you show there always show availability, actually in this case it doesn't even say anything, rather just that there space for lease / to be sold, which may not even be true. Take a look at queen west center's stacking plan's which show the whole building is available. Again, this is fairly typical.

 

[sunnyraytoronto]

Nah, I know for a fact they've sold quite a few of the offices, maybe not all, projects sites as you show there always show availability, actually in this case it doesn't even say anything, rather just that there space for lease / to be sold, which may not even be true. Take a look at queen west center's stacking plan's which show the whole building is available. Again, this is fairly typical.

Right across Yonge Street at Emerald Park, there are new For Sale signs for the office space at Emerald Park. EmeraldPark office spaces has always been for sale by developer and their agent; just that now they seem to have a new agent.

Emerald Park only has 1 floor of office space and is still having problem selling them. Hullmark Centre has 12 floors of office space - and that's not including the podium. Hullmark Centre office space looks like it should open in about a month or so. Emerald Park office space should open a few months after.

Are you saying the demand for office space on east side of Yonge Street is like 12 times greater than that for the west side of Yonge Street? Yeah,... it must be because east side is in better school zone! ;p

 

[taal]

You're not getting it ... think Aura ... from Hullmarks point of view they've sold the office 'condos', many of these will be marketed post fact (same story on the east side). I'm not saying the building will be fully occupied but rather the developer sold all the units.

I actually don't think the offices will have too much trouble getting filled with firms of the like I mentioned above (small / local things) it won't be your typical medium / large corporate office building. Similar story with the office building in World on Yonge (office condos).

 

[sunnyraytoronto]

You're not getting it ... think Aura ... from Hullmarks point of view they've sold the office 'condos', many of these will be marketed post fact (same story on the east side). I'm not saying the building will be fully occupied but rather the developer sold all the units.

I actually don't think the offices will have too much trouble getting filled with firms of the like I mentioned above (small / local things) it won't be your typical medium / large corporate office building. Similar story with the office building in World on Yonge (office condos).

Actually, from Hullmark point of view,... they're still selling and leasing the office space at HullmarkCentre,...
http://www.hullmark.ca/?hullmark=Office&map

You're comparing apples to oranges. You're comparing office spaces at Queen, downtown & RichmondHill to HullmarkCentre-EmeraldPark. Do you know what the office vacancy rate is at Yonge-Sheppard-401 area? It has the worst traffic congestion in GTA, people who can (ie offices and their clients) will avoid the area. Now there's HullmarkCentre 12 floor office space and EmeraldPark one floor office space being released at the same time. These developers did NOT want to build office spaces at all, it was city planning that insisted these office spaces be built!

The condos for both HullmarkCentre & EmeraldPark were generally all sold out before construction at basically downtown prices (per square footage) (EmeraldPark had a few left to sell during construction because they can't count and ended up adding a couple more floors to west tower).

The office spaces for both HullmarkCentre and EmeraldPark will open soon and they're still available for sale! Wait a few more months after these office spaces open and then walk through these offices buildings during business hours and see how many are actually open with name plates on the door.

 

[Automation Gallery]

Sh''t, do you ever have anything nice to say about any developments in your neighbourhood

 

[sunnyraytoronto]

Sh''t, do you ever have anything nice to say about any developments in your neighbourhood

Hey Automation Gallery, long time no debate,... of course, I've said nice things about developments in my neighbourhood,... heck, you've even criticized years ago for being all negative on Bazis EmeraldPark but yet positive on Tridel HullmarkCentre,.... given how these two developments have turned out, I'd say I've proven my point. BTW, Automation Gallery thanks for designing my avatar!

Seriously, how is anything I say negative about the development in my neighbourhood??? I just point out what the reality is. And maybe if some of you actually walk around Yonge-Sheppard-401 area (as I do every single day), you'll see reality as well. Just look around the Yonge-Sheppard-401 area and you'll see how many office buildings have office space available signs. But if some guy from midtown wants to argue that we should ignore the HullmarkCentre office for sale and lease signs on Hullmark's own website and the new office For Sale sign recently posted at EmeraldPark because he's "fairly sure hullmark sold out all the offices ... so pretty sure your off base on that",.... sounds like Taal needs me to point out the reality,.. with proof!

 

[taal]

Actually, from Hullmark point of view,... they're still selling and leasing the office space at HullmarkCentre,...
http://www.hullmark.ca/?hullmark=Office&map

You're comparing apples to oranges. You're comparing office spaces at Queen, downtown & RichmondHill to HullmarkCentre-EmeraldPark. Do you know what the office vacancy rate is at Yonge-Sheppard-401 area? It has the worst traffic congestion in GTA, people who can (ie offices and their clients) will avoid the area. Now there's HullmarkCentre 12 floor office space and EmeraldPark one floor office space being released at the same time. These developers did NOT want to build office spaces at all, it was city planning that insisted these office spaces be built!

The condos for both HullmarkCentre & EmeraldPark were generally all sold out before construction at basically downtown prices (per square footage) (EmeraldPark had a few left to sell during construction because they can't count and ended up adding a couple more floors to west tower).

The office spaces for both HullmarkCentre and EmeraldPark will open soon and they're still available for sale! Wait a few more months after these office spaces open and then walk through these offices buildings during business hours and see how many are actually open with name plates on the door.

NYCC has the lowest vacancy outside the greater core .... demand is very stable in the area, just like Yonge and Bloor, but the current rental rates (higher than anywhere outside the greater core) still do not justify new developments from a developers perspective, that is the cost of building a new office building (higher now than 10/15 years ago ... when the last office went up in NYCC) is more than what a developer can expect to take in over time.

This is why you don't see any new office developments in Bloor / St. Clair either, as these 2 submarket have externally low vacancy rates as well (even lower than NYCC) only second to the financial core it self.

I think this will continue for the foreseeable future, the reason being lately we are seeing more firms want to move to the core, some of these are actually within the 416 and a few in the 905, hence most of the demand is there, for companies who want back offices in accessible areas you have NYCC and soon VCC, I think these two markets will compete with each other, more so then VCC competing with downtown or other parts of hte 905, as rents in VCC will be higher ..

So if you are trying to imply there is little demand for NYCC offices, that's very far off base, but there probably isn't demand for new space ... but, as I've said on many occasions now, this is not typical office space (exactly like the condo office building going up in Yorkville) and these are a completely different local market.

Anyway no point in continuing this ..