mk39920
New Member
Picture from this morning, looks like they worked through the weekend
Toronto Richmond Adelaide Centre: EY Tower | 188.05m | 40s | Oxford Properties | Kohn Pedersen Fox
I saw them working on Saturday before the rain started to come down too hard.
chriskayTO
Active Member
Wow... That is coming down very quickly!
Roundabout
Senior Member
mk39920
New Member
Update for today, pic taken November 1 2013
Mo-tage
Active Member
Looks like Gowlings offices.
Last edited by a moderator:
mk39920
New Member
someMidTowner
¯\_(ツ)_/¯
Holy guacamole Batman!!!! That thing just disappeared.
Big Daddy
Senior Member
Curious - Brookfield is building another massive office tower in Calgary (will be taller than the Bow) - why are developers so timid here with project size when in Calgary they are proposing a 247 meter office tower?
Given the location of the EY tower, I would have thought something taller would be in order - however not so.
I don't get it.
Given the location of the EY tower, I would have thought something taller would be in order - however not so.
I don't get it.
steveve
Senior Member
Update for today, pic taken November 1 2013
nice... has it ever been said if this tower will be a steel constructed frame?
Also, out of curiosity i wonder if the building across the street (tim hortons) will ever come down to make way for a slim residential tower.
adma
Superstar
Who knows--it's pretty new, though (only about 20 or 25 yrs old).
And who knows, too, if being surrounded on two sides by the main downtown Bell transmitter facility will be factored against residential construction...
maestro
Senior Member
Taller and bigger aren't necessarily related. Calgary has some very large tenants that take very good care of their employees. Unbelievable amenities and plenty of room to stretch one's legs at their workstation or office (bigger than a workstation with floor to ceiling walls and a door) The question should be why 247 metres isn't 347 metres as the 1, 000, 000 square foot lease signed by Cenovus is possibly bigger than anything Toronto has ever seen.
taal
Senior Member
ummm no.. When the large tenants in Calgary relocate to newer office buildings they do what every other firm in North America does ... downsize the amount of space per employee, this is a trend that's here to stay and will only continue over time ... this coupled with alternative working locations (i.e. at home) fuels this even more.
Re: Height, there are so many factors, its not a Calgary vs Toronto thing ... For one the Calgary office market is hotter per ca pita, no doubt about that, its by far the hottest in North America, though that's starting to settle down now.
Keep in mind when Toronto's boom started, the buildings were fairly tall, with BA being +200m. The difference at this point is there is just about 5 million square feet of new construction in the greater core of Toronto. Less in Calgary, so Oxford like the other large commercial property developers here in Toronto know there is a lot of competition and given they are in the industry they can approximate the demand. Oxford knows filling a 240m building in this climate (even 3/4 years from now) would be difficult, they could take a risk, or get away with a shorter tower which is easier to fill, and correspondingly easier to profit on.
Keep in mind they did market the tower at a larger height at the start (and it was marketed for a while), simply put they probably couldn't secure a tenant large enough to go with the taller version.
Re: Height, there are so many factors, its not a Calgary vs Toronto thing ... For one the Calgary office market is hotter per ca pita, no doubt about that, its by far the hottest in North America, though that's starting to settle down now.
Keep in mind when Toronto's boom started, the buildings were fairly tall, with BA being +200m. The difference at this point is there is just about 5 million square feet of new construction in the greater core of Toronto. Less in Calgary, so Oxford like the other large commercial property developers here in Toronto know there is a lot of competition and given they are in the industry they can approximate the demand. Oxford knows filling a 240m building in this climate (even 3/4 years from now) would be difficult, they could take a risk, or get away with a shorter tower which is easier to fill, and correspondingly easier to profit on.
Keep in mind they did market the tower at a larger height at the start (and it was marketed for a while), simply put they probably couldn't secure a tenant large enough to go with the taller version.
maestro
Senior Member
No one implied newer spaces in Calgary aren't tighter but, they still are larger than here with managers still in offices and the amenity area is three to four times the size. A back room VP doesn't necessarily get an office here.
taal
Senior Member
I really doubt it ... and if its true it'll only be true for a short period of time. The financial industry has already been through all the cost cutting undertaking most companies went through after the financial crisis, the oil / energy industry will do the same if they haven't already started too given the declining commodity prices as of late. Its possible given a lot of companies planned these expansions when times were better out west (btw that's not to say they aren't still good) ... but its not the same ...