You can view the page at http://urbantoronto.ca/news/2010/02/history-imperial-oil-building-soon-be-imperial-plaza-condos
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- Thread starter Edward Skira
- Start date
Conrad Black
Senior Member
I'm surprised they don't open it up to other tenants. Is there something "wrong" with it?
colbyb
New Member
It emptied out when Imperial Oil moved all of their head office structure to Calgary. This prospectus from DTZ Barnicke has a really good overview:
http://tinyurl.com/ykbqaf2
It seems they're taking best offer, but for tax assessment purposes the building is appraised at $63,000,010 (2008) according to MPAC. There's probably not a huge market to buy a 1950's office building at Avenue and St. Clair when you can rent space in a brand new building in the core.
maestro
Senior Member
The "backyard" has a ton of potential. You could cram two luxury condo towers on it. Although it's obviously factored into the price.
urbanboyto
Active Member
perhaps do an "Electra" on it and turn it into condos! built in the same year too!
http://en.wikipedia.org/wiki/Electra_Building_(Vancouver)
http://en.wikipedia.org/wiki/Electra_Building_(Vancouver)
Glen
Senior Member
It looks like it is selling for about @175 per ft. Taxes of 2.61 million per year (uncapped). I have always loved this building, But I fear for it's future. It would be a shame if it was turned into condos.
I'm not worried about condos. More worried about it doing a Union Carbide.
Glen
Senior Member
I am worried about a conversion, from what I have heard from someone involved with this building.
ernesttoronto
New Member
Great article. Isn't there also an Imperial Oil Building at Front & Berkeley St where the Canadian Opera Company resides? I know that's the name of the theatre, but I was just wondering if the name reflects the historic building which was a gas company ( I believe).
pman
Senior Member
my fantasy
In my fantasy world, the province would move OPG's offices from University and College to the Imperial Oil building, and convert the current OPG site to a medical research complex affiliated with the UofT, the downtown hospitals and MARS.
In my fantasy world, the province would move OPG's offices from University and College to the Imperial Oil building, and convert the current OPG site to a medical research complex affiliated with the UofT, the downtown hospitals and MARS.
DSC
Superstar
The Front Street building at Berkeley is nothing to do with Imperial Oil EXCEPT that they gave $$ to the theatre. The building used to be a Consumers' Gas facility.