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

rdaner said:
^Don’t forget that the building at the northeast corner of the site will be redeveloped at some point and can accommodate a cinema and likely a hotel.
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Forgot to include this in my initial response:

Stantec (occupant of the building you're referring to) has no plans in the immediate or near future to vacate that building. So it wont be redeveloped unless they have a drastic change in plans.
 
Amare said:
Forgot to include this in my initial response:

Stantec (occupant of the building you're referring to) has no plans in the immediate or near future to vacate that building. So it wont be redeveloped unless they have a drastic change in plans.
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Which is a shame. Wonder if they could be enticed to move?
 
^^I have no knowledge that they are moving but will say that I am sure that the owners of the building are aware of The Well’s success.
 
rdaner said:
^Don’t forget that the building at the northeast corner of the site will be redeveloped at some point and can accommodate a cinema and likely a hotel.
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The issue with the cinema was that there wasn't any interest from a provider, not that it couldn't be designed or constructed. Allied and RioCan tried with multiple companies and the interest was nil.
Amare said:
Nope no movie theatre happening anymore. That was in the original plans, but the space (in the west end of the complex) has since been retrofitted while in initial construction for office use as they couldnt attract a tenant (ie: Cineplex wasnt interested).

It's Cineplex loss, but they dont think that's the case.
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Correct. What was going to be the cinema was swapped to office and leased to Konrad. Initially they wanted all of it, then rolled that back, only taking about half. https://thewelltoronto.com/directory/konrad/
Amare said:
Forgot to include this in my initial response:

Stantec (occupant of the building you're referring to) has no plans in the immediate or near future to vacate that building. So it wont be redeveloped unless they have a drastic change in plans.
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Adamson is in there too. Building isn't going anywhere as RAD secured an LDA over it. It's essentially undevelopable now.
 
ProjectEnd said:
Allied and RioCan tried with multiple companies and the interest was nil.
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To be fair, Cineplex was really the one that was the most realistic option. Landmark was never really viable, and an independent operator would bleed cash running anything there since they don't have the finances or resources to absorb that large of an operation.
 
^^As I’ve stated I have zero insider knowledge of this building but I do know that if the gap between what this 5s structure is currently bringing in versus what a 60-80s would generate the owners of the land/building will figure out a way to make the tenants to move along! Lol
 
rdaner said:
^^As I’ve stated I have zero insider knowledge of this building but I do know that if the gap between what this 5s structure is currently bringing in versus what a 60-80s would generate the owners of the land/building will figure out a way to make the tenants to move along! Lol
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See ProjectEnd’s post above. Zero chance of that ever happening.
 
^Perhaps. And a sideshow compared to what will happen on the northeast corner of Spadina and Front as the opening and success of The Well may have changed their aspirations.
 
Sandpit said:
Sorry I’m gonna need a little explainer on this.
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RioCan Allied Diamondcorp got a Limiting Distance Agreement - basically made an agreement with the adjacent landowner that they would not develop their land within X setback distance of the Well site so that the Well could have lesser setbacks that would typically be required (either for code or zoning reasons) if the LDA was not secured.
 
RyanD said:
RioCan Allied Diamondcorp got a Limiting Distance Agreement - basically made an agreement with the adjacent landowner that they would not develop their land within X setback distance of the Well site so that the Well could have lesser setbacks that would typically be required (either for code or zoning reasons) if the LDA was not secured.
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Top marks! Well summarized.
 
I don't wish to take this from a 'Well' thread to a cinema thread...........

But I do think its important to say, the Toronto exhibition market could be so much larger than it is given market size and diversity.

We are, instead, quite low on a screens per capita basis.

This has everything to do with Cineplex essentially having a monopoly, and a distribution business that isn't much better.

Changing that will absolutely require Competition Bureau and/or Legislative intervention.

For a couple points of comparison, in screens per capita at the national level, The U.S. ranks 6th, while Canada ranks 39th.

Toronto similarly performs well below peer cities around the world in screens per capita.

Some of that is lack of disposable income........but a good chunk of that is lack of diversity of product and venue, weak alternative programming/experience, and other problems such as limited showtimes and poorly thought out pricing.

How Ellis Jacob keeps his job (Cineplex CEO) is beyond me, he's overseen the destruction of his own industry.
 
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