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  • Thread starter billy corgan19982
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I called this one, who would want their corporate name associated with this mess?

Hopefully this will herald in a new beginning and eventually breathe new life into this much despised mess over the next few years.


easymorningrebel said:
THE GLOBE AND MAIL


By: Joe Friesen
Friday, Jul. 17, 2009

Adding insult to injury, the magazine Toronto Life has been locked in a months-long legal dispute to remove its name from the project.
Click to expand...
 
3D's "reliable source" turned out to be bogus I guess. PenEquity still owns the building and is showing no intention on improving it.

I'd take a guess and say they're waiting for the recession to be over so they can sell it to the highest bidder. I don't think PenEquity ever had any intention on running a competitive retail building. They invested the least possible into allowing it to function and then plan on making a nice profit once a serious buyer comes around.

I'd love for Cadillac Fairview to buy it and incorporate it as an annex to the Eaton Centre which now falls in a strange situation in being the only major shopping mall that I know of without an entertainment component/movie theatre.
 
This is great news in a way. No more PenEquity might mean better owners who might do something better with this building.
Now we know why Toronto Life signs never went up!


PS: Might as well just throw this topic in the TLS thread in P&C.
 
dt_toronto_geek said:
I called this one, who would want their corporate name associated with this mess?

Hopefully this will herald in a new beginning and eventually breathe new life into this much despised mess over the next few years.
Click to expand...

^ Yeah, I said the same. Toronto Life thought they made a coup by getting this deal which would get their name associated with the square and the area but soon found out the cheapout that they bought into.
This all explains why we haven't seen the Toronto Life signs added on.

Hopefully the new owners will take this building seriously enough to convince Toronto Life to stay on: I quite like the name.
 
I still
EmpPack3_23.gif
Metropolis, but Toronto Life Square is fine too.
 
This rather explains the absence of the Toronto Life sign that stubbornly keeps this vile piece of commercial detritus in the Projects and Construction thread indefinitely. Can I make an extra special, please pretty please, plea now to move this out of here? Please?
 
Last edited by a moderator:
I don't know why the mods think this building is under construction. It's not. It's been out of construction for over a year. Adding a sign here and there (which it hasn't done for quite a while) doesn't constitute construction in my opinion.

As a matter of fact, the very nature of this building (as a billboard) means that it will be forever changing. Signs will be added, removed, improved. Are we going to make it to 10,000 posts on this topic?
 
Well, that article was about the best news this building could have got. The major retailers are all doing great and PenEquity is out. I doubt the major creditors have much interest in running a mall, so they'll inevitably sell it to another firm that has a clue what it's doing.
 
Cadillac-Fairview should buy it and just call it an expansion of the Eaton Centre.

Im sure they can spruce up the building.
 
This is actually great news. I agree Cadillac-Fairview would be a good option. Almost any company would be a good option compared to Pen Equity.
 
Archivist, the reason that TLS has remained in the P&C section is to make the point that it was never finished, and to help keep Pen Equity's shame front and centre.

One assumes that Toronto Life wanted out as soon as they saw that landmark they had been promised would be built, had not been realized. I wonder if they saw some of the outrage and contempt for this project that was ladled out here on UT, and considered that as corroboration.

It will be very interesting to see how this shakes out: who the new owner(s) will be, whether they will consider making improvements to the building, and whether Toronto Life is stuck with paying for the naming rights.

42
 
Was in there today and it was dead.

3 business close so far and still lots of space for rent. That saying something that not good.

If it wasn't for Ryerson, gone out business sign would be up now.
 
drum118 said:
Was in there today and it was dead.

3 business close so far and still lots of space for rent. That saying something that not good.

If it wasn't for Ryerson, gone out business sign would be up now.
Click to expand...

Dead? It was PACKED when I went in this afternoon. I have never seen the place dead during the day.
 
Yeah, I work next door to this place and it's always very busy when I visit. About as busy as the eaton centre, proportionally.

It's still an abysmal failure, contextually and aesthetically. I, for one, will be dancing on Pen Equity's debt-ridden grave if they go down with this sinking ship, for it would serve as proof of justice in this world for all to observe.
 
Poetic justice
 
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