The Well | 174.03m | 46s | RioCan | Hariri Pontarini

400WellingtonGuy

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To clarify, HP is just doing master planning efforts at the moment, other firms (hopefully) will get involved to spice up individual portions. They just came back from their European fact finding inspirational tour.

KPMB is still doing the corner office building and morphing it into more retail on the lower levels.
 

interchange42

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Thanks AG! It's important that images on UrbanToronto are properly credited.

That said, that particular OMA design I'm not feeling that much. Still, looking forward to what HP comes up with for the site plan and what follows…

and if it's true that the KPMB Globe HQ building will return (modified) in the new plan, maybe that thread should be reopened and kept separate.

42
 

400WellingtonGuy

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Thanks AG! It's important that images on UrbanToronto are properly credited.

That said, that particular OMA design I'm not feeling that much. Still, looking forward to what HP comes up with for the site plan and what follows…

and if it's true that the KPMB Globe HQ building will return (modified) in the new plan, maybe that thread should be reopened and kept separate.

42
42, I agree with the decision this morning..the Globe may actually never be a tenant. Keep it to one thread for now as it is all under the same umbrella of RioCan/Allied/Diamond.
 

Ramako

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Why not just merge the two threads? It's all essentially one development now. Whether or not the Globe has abandoned the project, that proposal is still a part of the history of the site and the amalgamated thread would reflect that.
 

AHK

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42, I agree with the decision this morning..the Globe may actually never be a tenant. Keep it to one thread for now as it is all under the same umbrella of RioCan/Allied/Diamond.
Not quite yet - the joint venture has yet (as of last night) to close the acquisition of the corner lot where the Globe building was to go. No press release yet, and the status was confirmed by one of the Allied reps at the Adam Vaughan meeting last night.
 
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AHK

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Looks like the definitive agreement for the RioCan / Allied Properties / Diamond Corporation consortium to purchase the Spadina and Front Street corner lot has finally been reached. From today's press release:

RIOCAN, ALLIED AND DIAMOND TEAM UP FOR EXPANDED MIXED-USE REDEVELOPMENT PROJECT IN TORONTO’S DOWNTOWN WEST.

Toronto, Ontario (March 28, 2013)

RioCan Real Estate Investment Trust (“RioCanâ€) (TSX:REI.UN), Allied Properties Real Estate Investment Trust (“Alliedâ€) (TSX:AP.UN) and Diamond Corp. (“Diamondâ€) have entered into an agreement to acquire 410 Front Street West in Toronto (the “Propertyâ€) for $37.25 million. The purchase is expected to be completed in April of 2013, with each of RioCan and Allied having an undivided 40% interest and Diamond having an undivided 20% interest. The Property is comprised of approximately 1.2 acres of land on the northwest corner of Front and Spadina. It is adjacent to the 6.47 acres of land acquired late last year by RioCan, Allied and Diamond on the same proportionate basis. The Property is currently zoned for commercial use. The joint - venture partners intend to develop the Property as a retail and office complex that will integrate with, and complement, the mixed -use redevelopment planned for the larger site acquired last year. RioCan, Allied and Diamond will act as joint development managers. Upon completion, RioCan will act as property manager for the retail component and Allied will act as property manager for the office component of the redevelopment.
 

Register123

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Man did they ever ruin Clarence square with another crappy (dog crappy) dog park. They should have kept some nice classic symmetrical design.
 

saynotofaux

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I just attended an event where Michael Emory (CEO of Allied REIT) spoke about this project: he confirmed that the northwest corner of Front and Spadina was acquired by Allied/Riocan/Diamondcorp yesterday. Together with the Globe lands the site is just shy of 8 acres. He advised that the project is still very preliminary and declined to go into specifics about what the scope of the development might be, but he did indicate their intention of bifurcating the site with two north-south roads so as to break up the large block. He also mentioned that it is uncertain whether the G&M will be a tenant, and added that they might proceed with building the KPMB-designed Globe HQ at the NW corner of Front/Spadina, but Emory indicated that the three developers were not entirely enamoured with the "geometry" of the KPMB building. Only other information gleaned from his presentation is that there will be multiple (5-6 iirc) mixed-use towers, one enormous shared underground parking/servicing complex, and Hariri/Pontarini will be handling a lot of the design work.
 

TOBoy

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Thanks for the info.

By mixed-use towers, I sure hope he doesn't mean condos.
 

innsertnamehere

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Oh expect condos, but I doubt all 6 of them. probably 4 condo towers, a rental, and an office, or something like that.
 

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