Automation Gallery
Superstar
Maybe there is still hope.
Toronto MaRS Centre Phase 2 | 112.77m | 20s | Alexandria | B+H
Maybe there is still hope.
ian
New Member
It's not like new cranes are needed anywhere else...
Seriously though, perhaps someone managing this project is actively lobbying the federal government for some cash. You don't get more "shovel-ready" then two cranes on the scene. I believe there was a Star article recently arguing this idea.
maestro
Senior Member
It's a costly procedure to remove the cranes and requires roads to be closed
Automation Gallery
Superstar
barrytron3030
Active Member
i know mars's project manager because like i said, i used to work for him. a very nice man.
anyway, i really don't see him lobbying the government for more money as both the provincial and federal governments have already provided large sums. feeding mars is not one of their priorities right now, especially considering it is located in ontario. in the long term do they want this business/science hub to thrive? of course, but in politics, convincing non-ontarians to spend money on a massive projhect in the middle of a recession and possible shift in power is definitely unattractive.
as we all know, the problem lies in lending money. phase 3 has been dedicated to primarily small, innovative start-up companies. there are enough willing tenants out there but with the current fianancial situation, corporations aren't yet willing to lend significant cash.
while overly hopeful, no one at mars has ruled out the projected completion date. we'll see how it goes.
anyway, i really don't see him lobbying the government for more money as both the provincial and federal governments have already provided large sums. feeding mars is not one of their priorities right now, especially considering it is located in ontario. in the long term do they want this business/science hub to thrive? of course, but in politics, convincing non-ontarians to spend money on a massive projhect in the middle of a recession and possible shift in power is definitely unattractive.
as we all know, the problem lies in lending money. phase 3 has been dedicated to primarily small, innovative start-up companies. there are enough willing tenants out there but with the current fianancial situation, corporations aren't yet willing to lend significant cash.
while overly hopeful, no one at mars has ruled out the projected completion date. we'll see how it goes.
khris
Senior Member
The articles posted already said the project is not dead. They only said that there is going to be a pause until they're ready to continue. From the sounds of it, they don't expect this to be a very long pause, so why take down cranes when they're only going to have to be put back up again soon.
dt_toronto_geek
Superstar
I walked past there two hours ago and saw the three cranes still up and was wondering about this myself. But you folks beat me to the punch.
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Archivist
Senior Member
No one makes an announcement that says, "this project is deader than maggot-infested roadkill". They always make some hopeful noises. But where are the precedents in Toronto for something being "paused" and continued again a few months later? I certainly can't think of any. Bay-Adelaide, ceased in 1991, only began again recently after another announcement that it would be built, in 1998. Unfortunately, MaRS is dead and will take a number of years to be built, and when that occurs, it will be in a very different form.
Hipster Duck
Senior Member
^On the downside, those were quite a few high tech, research jobs that could've really helped downtown and our biomedical sector. On the plus side, I thought that Mars Phase II was a clunky beast (Mars I is very refined, by the way) of a building.
As for inactive cranes, remember when the crane for TLS sat around on that weedy lot for a year?
As for inactive cranes, remember when the crane for TLS sat around on that weedy lot for a year?
Automation Gallery
Superstar
Is there any chance the federal government may pitch some funds into this project in their up coming budget.
dt_toronto_geek
Superstar
Excellent point.
Observer Walt
Senior Member
Automation, it may be just wishful thinking on my part, but I'd like to think that there would be a good chance of that. It's a major project that could probably be got under way again within literally a week or two, if funding were confirmed.
Barrytron is right in saying that securing construction financing is difficult in the current environment. If, say, the Ontario govt. stepped in, they could fund construction, secured by a mortgage on the property, and maybe even step in to use the floor space as government office space if there is still insufficient demand upon completion in two years or so. In the longer run, there will be tenants lined up for the space, and the risk is very minimal, in this location.
Barrytron is right in saying that securing construction financing is difficult in the current environment. If, say, the Ontario govt. stepped in, they could fund construction, secured by a mortgage on the property, and maybe even step in to use the floor space as government office space if there is still insufficient demand upon completion in two years or so. In the longer run, there will be tenants lined up for the space, and the risk is very minimal, in this location.
Automation Gallery
Superstar
Remember its a drop in the bucket if they are going to be throwing 40 billion around.
Dan416
Senior Member
I hope they finish this one. Can't leave this intersection torn up like this.
barrytron3030
Active Member
remove yourself from your torontonian identity and admirer of urbanization, density and architecture just for a second. i know, it makes me tear up too.
would you really want a government to start lending millions of dollars to small start-up companies in the current economic climate? sure that would be great, but very unpopular. it's too risky. politically, it is very unattractive to start financing the private sector, particularly, one that is so specialized and not obviously related to middle class citizens across the country.
i have faith in this project but remember, if the building could not secure finances in the first place, and predict the current economic conditions, then it truly is not the time to build mars.
we can't just build beautiful but empty office/research buildings just because they "should" be here or the city "deserves" it. the project will be done eventually, right now we just have to be patient.
would you really want a government to start lending millions of dollars to small start-up companies in the current economic climate? sure that would be great, but very unpopular. it's too risky. politically, it is very unattractive to start financing the private sector, particularly, one that is so specialized and not obviously related to middle class citizens across the country.
i have faith in this project but remember, if the building could not secure finances in the first place, and predict the current economic conditions, then it truly is not the time to build mars.
we can't just build beautiful but empty office/research buildings just because they "should" be here or the city "deserves" it. the project will be done eventually, right now we just have to be patient.