Kenojuak
Active Member
Per Gary Marr, CoStar: https://www.costar.com/article/5006338/rogers-to-sell-off-piece-of-downtown-toronto-campus
This is the site:
Bids coming Monday [Oct. 7, 2019] for a piece of the Rogers Communications real estate empire in downtown Toronto. Cushman & Wakefield in Canada with the listing for 350 Bloor Street East. Potential for 40 storey tower at site
A Toronto planning firm hired by Rogers suggested the optimal mix would be 284,064 square feet of residential with close to 100,000 square feet of office space, as part of a 40-storey building.
"It's right downtown, on a subway line," said Ben Myers, founder of Bullpen Research & Consulting, a boutique real estate advisory firm. "The developer [will be buying] based on at least $1,200 to $1,300 a square foot for the condominiums. Who knows? This will be in high demand."
Toronto's most expensive area for high-rises continues to be in nearby Yorkville, where condos are now near $1,800 a square foot, said Myers, noting the demand for housing continues to stretch east as consumers look for affordability. Cushman & Wakefield said it considers the property for sale part of the Yorkville district.
"There are only so many sites [on Bloor]," said Myers. "I think residential wins the day. You've got a ravine there and a tremendous view that will not be blocked by anyone else."
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