Toronto KING Toronto | 57.6m | 16s | Westbank | Bjarke Ingels Group

grey said:
This is potentially disasterous. There's no way in hell they should be allowed to touch this strip. Even a mere rendering of a 25-storey building building on that site throws my confidence in Allied (fantastic Richmond+Peter project, great maintenance of century-old buildings) into doubt. What a joke!
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Allied owns much of that stretch, and Michael Emory made it plenty clear to me that he intends to redevelop it as his company sees fit. This is obviously what he means by redeveloping it.
 
Makes you wonder why Allied REIT would not just shelf this for a smaller office development and add the potential extra square footage to the already
proposed/approved-on hold 36 storey 171 Front St. W office tower on property owned by Allied .:confused:
 
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Guys, please try to realize how preliminary this is!

Someone most likely just through in a random building to give shareholders and the like potential development. I doubt there is even a plan to peruse this at the moment!

I'm failure sure they are very much concentrating on the Queen Richmond center.


Also regarding the property on Front, that's rather special as I believe a large of that is an expansion of the data center that is in that building now.
 
taal said:
Also regarding the property on Front, that's rather special as I believe a large of that is an expansion of the data center that is in that building now.
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I dont know about that taal, it would be one hell of a data centre...from what i last heard i believe the first 8-12 floors would be dedicated to that field and the rest up for grabs.
 
489 KING ST W
OPA / Rezoning 12 203376 STE 20 OZ Ward 20
- Tor & E.York Jun 29, 2012 --- --- --- ---
Offical Plan Amendment and Rezoning to permit the redevelopment of the lands for a new 22 storey office building complete with ground floor related commercial uses. Included in the proposal is parking for 157 vehicles in a below grade parking facility
 
Common Allied ... you have like 4 projects on the fly, pick and chose you're not going to get them all out the door anytime and soon:
1) 489 King
2) Peter street
3) Queen Richmond Center (No lead tenant found yet!)
4) Front street tower (on top of existing).
 
they seem to be building queen richmond center on spec... I doubt they would go into the huge expense of renting a crane if they weren't sure if it was going to be built.
 
innsertnamehere said:
they seem to be building queen richmond center on spec... I doubt they would go into the huge expense of renting a crane if they weren't sure if it was going to be built.
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From what I heard, to help entice tenants, they will decrease the delivery time (which was rather high for a project of this size i.e. its not very big) by finishing the work on the heritage building up front. That way when they're done they can advertize the building can be ready in 1 or 2 years, verse the initial 3+.

You're though it tells you they're confident they can eventually get a deal ... at least on the hertiage building, maybe they don't take the project further then that ?
 
Automation Gallery said:
Wait a minute, are they (REITs) not tied together in some way:confused:
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hehe REIT stands for Real estate investment trust, its a type of corporation, that's a really bad description but there are many tax implications and dictates how income is distributed.

Anyway, that's like saying if BMO does well so will TD : )


btw I'm not implying either will do well or bad. Anyway, you're right, it doesn't make much sense for them to get started on this unless they have confidence.
But at this point I think (assume) even they have acknowledged they're behind schedule in terms of when they planned on finding a lead tenant, it's obsiouly turning out to be a lot harder.

The other advantage of building on spec, in this area, (i.e. not the core), most companies only look for a max of say 20K, so its very hard for small companies to commitment to long term leases for buildings that doesn't even exist yet ! So by building it, or getting that started, it'll be more attractive to smaller tenants.

There aren't many 100K+ tenants in Canada !

I really wish ING took the space, there was a rumor they would. Interestingly, they're currently headquartered around the 401/404. But the building seems as if its all for lease, they take 160K space. So they may be looking to relocate, hopefully its not to the 905 ... but who knows.

Oh, and you may have heard, the national post sold their headquarters on Don Mills and stated they're looking to move into the core.
 
taal said:
I really wish ING took the space, there was a rumor they would. Interestingly, they're currently headquartered around the 401/404. But the building seems as if its all for lease, they take 160K space. So they may be looking to relocate, hopefully its not to the 905 ... but who knows.

Oh, and you may have heard, the national post sold their headquarters on Don Mills and stated they're looking to move into the core.
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I wonder what size (sq.ft) of space would Postmedia require:confused:

Postmedia Network Announces the Sale of 1450 Don Mills Road in Toronto

June 26, 2012 (TORONTO) – Postmedia Network Canada Corp. (“Postmedia” or the “Company”) today announced that it has entered into an agreement with The Rose & Thistle Group Ltd. to sell the real estate property located at 1450 Don Mills Road in Toronto. The building currently houses Postmedia’s corporate head office and the National Post. The purchase price is $24 million and the net proceeds of the sale will be used for debt repayment.

The agreement may be terminated by Postmedia if it has not, to its satisfaction, agreed on a lease for new space with a new landlord within 30 days.

The transaction is expected to close on September 28, 2012. The agreement includes a lease-back of the property to Postmedia for 18-24 months while new accommodations are readied for the relocation.
 
It's ~ 150K.

I thought the new globe and mail building would be a good match, but maybe they wouldn't want to be located in the same building ? lol
 
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