The HUB | 258.46m | 59s | Oxford Properties | Rogers Stirk Harbour

[ushahid]

This is like the least interesting part of the project - by this point, I would expect office towers approval to be a done deal.

AoD

it's just a formality.

 

[ushahid]

and sorry for being off topic, is there a list of projects that were supposed to be approved or rejected by the city today?

 

[maestro]

Now the difficult, behind the scenes task of securing tenants. It's not going to get anymore interesting until that is fulfilled.

 

[Automation Gallery]

Now the difficult, behind the scenes task of securing tenants. It's not going to get anymore interesting until that is fulfilled.

Doubt it with the low vacancy rates in Toronto, either way Oxford has the deep pockets to kick start this development with or without an anchor tenant.
.they say 2023?, lets see

 

[maestro]

The date on the brochure is an estimate. There are only so many anchors for a large tower like this despite the low vacancy. I don't see the financial gain vs risk in spec building. The pension funds have all worked their way to surpluses this decade but, it doesn't take much to fall back into deficit.

In any case, this is not a conservation that interests me.

 

[travis3000]

Now the difficult, behind the scenes task of securing tenants. It's not going to get anymore interesting until that is fulfilled.

Yep that will be fun. Could take some time. So far the only reason CIBC Square and 160 Front got the green lights was due to banks.... I don't think there are any other big banks that need this level of space. Toronto also doesn't have that many tech companies that would take this much space. Never say never, but we could be waiting a long time for both this and CC3.

 

[isaidso]

Doubt it with the low vacancy rates in Toronto, either way Oxford has the deep pockets to kick start this development with or without an anchor tenant.
.they say 2023?, lets see
View attachment 191697

Another 20-30 floors please then.

 

[ChesterCopperpot]

L..O..L

 

[raptor]

Approved at council today

 

[cd concept]

So when's does this project get started?

 

[Logan]

I could see Rogers as an anchor here. Their current HQ in midtown sucks. They could really use a relocation.
Roger's Hub?

 

[rbt]

So when's does this project get started?

My bet? We'll see activity by late fall.

I'm also not expecting a major tenant announcement as it's a ~10% increase is Oxford's downtown floorspace. They can shuffle around a few existing tenants to empty out a floor or 2 in each of their buildings for a bit of breathing room. Someone will buy signage rights but they won't be 50% of the floorspace.

 

[ProjectEnd]

So when's does this project get started?

Probably a year. They don't have an SPA application in (though we'll probably see that soon), much less permits and leases.

 

[maestro]

My bet? We'll see activity by late fall.

I'm also not expecting a major tenant announcement as it's a ~10% increase is Oxford's downtown floorspace. They can shuffle around a few existing tenants to empty out a floor or 2 in each of their buildings for a bit of breathing room. Someone will buy signage rights but they won't be 50% of the floorspace.

This building is huge. There are very few anchors that can take 50% of the space. Oxford doesn't need to build this tower. I don't see any advantage in playing musical chairs with tenants under 50,000 square feet to get this tower built over securing a safe anchor tenant in a long term contract.

 

[AHK]

This building is huge. There are very few anchors that can take 50% of the space. Oxford doesn't need to build this tower. I don't see any advantage in playing musical chairs with tenants under 50,000 square feet to get this tower built over securing a safe anchor tenant in a long term contract.

Oxford Property's purpose in life is to help fund the OMER's future pension obligations ten, fifteen twenty and more years down the road. So - given deep pockets, a fantastic location for which the only question is how quickly it will lease up, construction costs that will almost certainly be going up, and the lead times to get a building built, fully occupied, with a stable cash flow - well, what would you do? Shrug it off, with a 'doesn't need to build this tower' - or get the process going with a view to the future cash flow ten, twenty, thirty years from now, when the OMERS pension benefits will be paying out.?

In Oxford Properties / OMERS position - I know what I would do.....