Increasing demand by young professionals over the last decade to work in Downtown Toronto has brought about record low vacancy rates for office space in the core, and fuelled the recent wave of new office tower construction. Now, work as begun on the third and final phase at Brookfield Property Partners' Bay Adelaide Centre complex.
Following on the heels of the 44 and 51-storey east and west towers, the complex's north tower will be a 32-storey KPMB Architects and Adamson Associates Architects-designed building, bringing 810,344 square feet of new office space to the core. The big news came last summer when Scotiabank agreed to a 15-year lease for 420,000 square feet, or about 51%, of the building. Following the leasing announcement, work on the project began with demolition activity in November.
Since then, crews have been clearing away the single-storey bunker-like structure that has occupied the site on the north side of Temperance Street. The bunker has served as access to the PATH network and parking garage below. Its removal will free the space for the new tower's construction.
The issuing of building permits towards the end of 2018 marked another step forward for the project, which is expected to begin full-on construction activity in the coming months. As was the case with the second phase, the presence of an underground garage below the tower means that shoring and excavation can be skipped, and that any alterations required below can happen more quickly: we should see this tower begin to rise over the coming months.
Additional information and images can be found in our database file for the project, linked below. Want to get involved in the discussion? Check out the associated Forum thread, or leave a comment in the field provided at the bottom of this page.
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