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Mike in TO

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Build Toronto is planning to move forward on its first project involving surplus city land. 4050 Yonge Street (Yonge & York Mills) will be redeveloped and preliminary plans call for a 500,000 square foot LEED Gold office building. As reported in various media outlets today the TTC will consider leasing a portion of the new office space to consolidate employees located in various offices across the city (including Davisville - which would then be turned over to Build Toronto for redevelopment).

Build Toronto has made a submission for a zb/l & OPA with a target delivery date of 2014.
 
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Automation Gallery

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TTC to pursue long-term lease for Yonge-York Mills headquarters

The Toronto Transit Commission is preparing to move its headquarters to a yet-to-be constructed building at Yonge and York Mills.

Commissioners yesterday agreed to pursue a long-term lease after reviewing the cost of repairs at the commission's current head office, and the amount of extra space it expects to need.

The plans have come under fire from mayoral candidate George Smitherman, who said the TTC should spend its time improving the conditions of stations, not office cubicles.

In a press release, TTC chairman Adam Giambrone said the move would only happen if it brings "cost savings and improved operational efficiencies."

The proposed new building is a development by Build Toronto, which wants to turn a parking lot into a "green" eight-storey building.

The TTC says its current Davisville building needs $30-million in repairs, and the commission leases space in seven other buildings for about $8.6-million a year. The TTC would move to the new quarters in 2014, and turn its current headquarters over to Build Toronto "for future development opportunities.''

http://www.nationalpost.com/news/canada/toronto/story.html?id=2996123#ixzz0nEpMgyEh
 

Solaris

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Novae Res Urbis

BUILD TORONTO
TTC interest in Yonge St. site

FRIDAY • MAY 7 • 2010

Built Toronto has submitted its first planning application to the city, seeking official plan and zoning by-law amendments to develop a new office building at Yonge Street and York Mills Road and the TTC is interested in moving its headquarters there.

Though the city’s newest real estate development agency declined to elaborate on specific details surrounding the project, a press release issued Wednesday said the application proposes a 500,000-sq.ft., LEED-gold office building that will be financed through a partnership with the private sector. The site is located at 4050 Yonge Street and the building is expected to be complete in 2014.

Further details about the project are expected next week, when Build Toronto’s president and CEO Lorne Braithwaite gives a speech at the Toronto Board of Trade. The press release also notes that the building “is expected to be a very attractive location for many potential organizations,†adding that the agency “has already received interest from several potential lead tenants.â€

Though no further information was offered by the city agency, the Toronto Transit Commission voted yesterday afternoon to develop a framework for a long-term lease for space in Build Toronto’s proposed project. Under the lease agreement the TTC’s current headquarters would be turned over to Build Toronto.

The TTC has been exploring its office space options for two years, as its current offices atop Davisville Station at 1900 Yonge Street require approximately $30 million in repairs and upgrades. Additionally, the current headquarters houses 300 employees while another 700 or so are housed in various leased offices around the city, costing the TTC $8.6 million a year in rent. Leasing the space from Build Toronto would allow the TTC to consolidate its employees in a central office.

The Davisville office, built in 1956, requires a new sprinkler system, upgrades to the heating, ventilation and air conditioning systems, masonry repairs and energy efficiency upgrades such as new windows.

The TTC stressed it is exploring its options and would only enter into such a lease agreement if the cost savings were beneficial. An offer to lease document is expected to be prepared in August and final pricing finalized in October.
 

Solaris

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The new proposed building is much closer to suburbs and exurbs where most TTC employees live.
however, it should be noted that the subject will have direct connection to the York Mills subways station ... making its distance relative to the downtown core irrelevant from an accessibility standpoint
 

marcus_a_j

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Are you insinuating that all the suburban/exurban employees take the GO to Union then up to York Mills via the subway? From an accessibility standpoint its distance from the downtown core is very relevant since it will be practically spitting distance from the 401, and 6-8 minutes each way further on the subway from the current Davisville location.
 

uptownto

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TTC is supposed to be consolidating their offices at Davisville and North York City Centre (I don't know if there are other locations too) so from that standpoint, a move to York Mills station makes sense being in between the two former ones. And they get to redevelop a parking lot and build other commercial space on top of that! Sounds pretty win-win to me.
 

scarberiankhatru

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Moving to Yonge & Wilson (it's not Yonge & York Mills! Two cookies for the first article that mentions the correct intersection) really changes nothing in terms of transit access/usage but it will *add* improved highway access...and, likely, highway usage.
 

yyzer

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from the Sun posted May 7.....

New home for TTC step closer

Plans for the Red Rocket to get a new launching pad were approved Thursday at the Toronto Transit Commission’s monthly meeting.

Commissioners okayed a proposal to negotiate a lease deal with Build Toronto for an as-yet-unbuilt office tower at 4050 Yonge St. near York Mills.

Build Toronto is the city agency in charge of selling and developing surplus Toronto land, and the project would be its first effort.

The TTC says a move from its current digs at Davisville and Yonge would mean it can save $30 to $40 million in costly upgrades and fire safety improvements at the building.

As well, it would end the need to spend $8.6 million a year renting space for the workers it doesn’t have room for at Davisville.

“What is clear from the extensive review of our space plans is that there are opportunities to save money and improve operational efficiencies by rationalizing our space requirements at one integrated location,” TTC chairman Adam Giambrone said in a statement.

“The potential relocation of the TTC headquarters will only proceed if the economic case clearly shows cost savings and improved operational efficiencies of such a move.”
 

Solaris

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Because this site is more subway accessible? (whereas the latter is not ~)
 

interchange42

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Well, maybe the TTC can lease in this new building at York Mills station, then move into a purpose-built and owned TTC office at their new Cherry Street station when the DRL opens in, uh, 20- uh- 20.

42
 

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Build Toronto set to raise dollars from dust

First up is 4050 Yonge St. at York Mills Rd., prime land that has sat as a two-acre parking lot with a golf course view, surrounded by multimillion-dollar condos and pricey office buildings.

At 4050 Yonge, Build Toronto is 60 to 90 days away from signing a deal with a tenant. The TTC wants to move into what would be an eight-storey, 400,000-square-foot, environmentally advanced building ready for 2014. But another company is also interested in leasing the whole building, and Build Toronto’s job is to go for the dough.

http://www.torontosun.com/comment/columnists/rob_granatstein/2010/05/11/13912581.html
 

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