Armour
Senior Member
Those buildings ought to be preserved. They're some of Toronto's best looking modernist ones.
This took some digging, but I found it in a report on the Toronto office market from October. It says: "Oxford Properties took over leasing of Canada Square, with the aim to redevelop the complex."
I assume this means both buildings fronting Yonge, but I don't know. Might they be working with Build Toronto in developing the entire property?
http://www.avisonyoung.com/fileDownloader.php?file=files/media-room/REMIReGTAQ3officeOct27_15.pdf
Those buildings ought to be preserved. They're some of Toronto's best looking modernist ones.
Honestly I don't know why they'd redevelop unless they want more condos; The office buildings are all nearly 100% full ... I have a feeling this may not happen for a long time ... here's probably why it did; There was a lot of speculation that Canadian Tire would move out .. somewhere .. if they did it'd leave a giagnatic hole to fill, I think they're maybe 60/70% of the entire complex ? At which point they'd probably consider redeveloping.
There was always a plan for Canada Square to build an office tower for CTC behind the two existing towers but the "when" was never defined. I had thought the potential move to Leslie/Sheppard would have motivated Canada Square to move sooner but apparently not. I suspect the new Eglinton Crosstown is one of the keys keeping CTC here (the subway was a key reason they didn't move), but also from contacts I still have at CTC, there is a plan brewing that would give CTC it's shiny new head office and a redevelopment of the entire Square, including a new TTC station.
The link I posted says that Oxford plans a redevelopment. Based on Tuscani01's remarks above, perhaps this redevelopment consists of nothing more than renovations of the existing buildings.
I think most of what you've heard is just speculation regarding CTC getting a new office building at this location. The Crosstown wasn't a factor in staying. It just didn't make sense to build a new office. The subway also isn't a factor in staying, as the property CTC was looking at would've included a connection to the subway too. (Not to mention a lot of CTC employees are from the burbs. The subway isn't as big of a draw as parking)
I used to work at CTC - in the Real Estate arm - and it was definitely the plan. They talked about moving many times but the existing location right on the subway always made them change their minds. I suspect the addition of the Crosstown only made their love of this location stronger. I'd love to see whats going to happen here, the area is changing so much and the new Crosstown makes this property even more valuable than before.