When RioCan REIT participated recently in the “Lunchbox Challenge” to show appreciation to construction crews building its projects during the pandemic, the event was on a scale seldom seen among Canadian developers. The REIT (REI-UN-T) oversaw delivery of 1,200 lunches,
RioCan has commercial, retail and residential ownership stakes with partners Allied Properties REIT, Tridel and Woodbourne in The Well, a massive mixed-used development covering 7.8 acres in the west part of downtown Toronto that will comprise more than three million square feet of office, retail, condominium and rental living spaces and amenities.
Construction is up to the 20th floor of the office tower RioCan is involved with, and work on the multifamily rental components above its retail elements will start shortly.
RioCan is in discussions with potential retail tenants and expects a couple of bank branches to be included as it targets a late 2022 opening for its 415,000 square feet of retail space.
“Up to now it’s been difficult to finalize any deals because the retailers haven’t been able to see what they’re potentially going to be going into,” said Duncan. “And two years is a long time for a retail tenant to contemplate in advance.”
Office tower west side - forms have started to move up into position for the 25th floor of the tower. Approximately two weeks after starting their move up to the 24th floor. The second photo below shows the floor numbers beside the external construction hoist - the black projection platform close to the construction hoist is on the 20th floor. Counting from there in the first photo shows that the three forming sections are now at the 25th floor.
Another busy day at The Well. Four concrete pumps in action - the three permanently mounted pumps plus one mobile pump on the Wellington side - all operating concurrently. And one of the tower cranes (the south-west corner crane) is doing bucket lifts.
I love how this development has almost completely urbanized the front/spadina intersection (which used to feel desolate) and better stitches king west with city place. Also like how the office component is bulky and adds to the spadina streetwall