modernizt
Senior Member
There's a renewed interest in postmodernism in architecture schools right now, among students more than anyone else. I'd expect to start seeing more of PoMo's ideas reappearing in architectural practice before too long.
Toronto Scotiabank North Tower at Bay Adelaide Centre | 140.2m | 32s | Brookfield | KPMB
- Thread starter yyzer
- Start date
stjames2queenwest
Senior Member
^That sounds good to me.
maestro
Senior Member
Does it matter if there are office workers in the spaces or not? Cenovus IS the lead tenant. They are locked into a long term deal at boomtime pricing. They also paid to have occupancy pushed back a year. Brookfield should be fine. They certainly won't be surpassing the Eighth Avenue Place boondoggle by Ivanhoe Cambridge.
ProjectEnd
Superstar
Getting close to an anchor lease here. Name is not yet public but it was confirmed at the IMIT deputations today.
Northern Light
Superstar
I thought the remaining eligibility of IMIT for offices in the Financial District was eliminated? Or has that not been approved/effected yet?
PS, thanks for the update!
ProjectEnd
Superstar
No worries!
Check out the Hemson report for the status. As you'll see in the deputations, the primary sticking point is the 'But For' test in the report. Only The Well and the Sanofi Pasteur expansion on Steeles met those criteria.
http://app.toronto.ca/tmmis/viewAgendaItemHistory.do?item=2018.ED31.7
Starts at 2:18:28
Check out the Hemson report for the status. As you'll see in the deputations, the primary sticking point is the 'But For' test in the report. Only The Well and the Sanofi Pasteur expansion on Steeles met those criteria.
http://app.toronto.ca/tmmis/viewAgendaItemHistory.do?item=2018.ED31.7
Starts at 2:18:28
Northern Light
Superstar
Great link! I don't usually miss these, but I did this one.
Excellent reading. Many thanks!
taal
Senior Member
Wow that was very interesting to watch !
I'm pretty surprised they turned down the majority of the applications for the IMIT given they all seem to meet the guidelines ... but you can see the committee didn't really sound in favour of the report (i.e. to reject all but 2, The Well site and Sanofi on Steeles) and instead will likely recommend to council they approval most or all.
With that said it seems like the longer term intentions here are to introduce much more stringent guidelines in order to qualify for IMIT.
There's a lot of talk of competitive advantages but one thing I've always wondered about is how does IMIT impact existing office buildings which of course don't benefit from the tax breaks and how that is fair. I also wonder if IMID were just to disappear how much less office development would we see ? No difference ? Very few projects ? It's hard to say, of course when you hear the presenters from the various stakeholders they paint the picture that no buildings will be built without this ...
I'm pretty surprised they turned down the majority of the applications for the IMIT given they all seem to meet the guidelines ... but you can see the committee didn't really sound in favour of the report (i.e. to reject all but 2, The Well site and Sanofi on Steeles) and instead will likely recommend to council they approval most or all.
With that said it seems like the longer term intentions here are to introduce much more stringent guidelines in order to qualify for IMIT.
There's a lot of talk of competitive advantages but one thing I've always wondered about is how does IMIT impact existing office buildings which of course don't benefit from the tax breaks and how that is fair. I also wonder if IMID were just to disappear how much less office development would we see ? No difference ? Very few projects ? It's hard to say, of course when you hear the presenters from the various stakeholders they paint the picture that no buildings will be built without this ...
innsertnamehere
Superstar
Given Toronto's vacancy rates right now, if it were to be removed.. I imagine things would continue on like normal. We are seeing a ton of spec office buildings going up to meet demand..
For anyone wondering about some of the incentives referred to above, we did a front page story way back in 2014 about a bunch of them:
City of Toronto Promotes Incentive Programs for Businesses
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City of Toronto Promotes Incentive Programs for Businesses
42
BJH
New Member
The tenants in 357 Bay St, which is on this block, receved six-month eviction notices yesterday.
raptor
Senior Member
ChesterCopperpot
Senior Member
Nope - it isn't
Northern Light
Superstar
Hmmm.
Dream Reit shows the building as 100% leased, I see no indications of a major application moving forward.
375 Bay St. just to the north appears more suitable to something, but I didn't see any indication of that.
As per @ChesterCopperpot it doesn't appear to be tied to B-A North either way. But perhaps something is up......
If they are turfing tenants from a fully leased property that merits investigation!
AlvinofDiaspar
Moderator
Remember this?
https://urbantoronto.ca/forum/threads/357-bay-st-renovations-dream-11s-partisans.26111/
News regarding 357 Bay moved to above thread.
MoD