CITY_LOVER said:
In terms of major office projects, I would add 171 Front Street and 880 Bay Street to your list (for the City of Toronto). Now the real question is how many of these materialize over how many years (and will they retain their existing proposed heights and sq. ft. or will they be reduced, like the RAC3 already has in its latest version)?
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Forget it.....171 Front is basically canceled and 880 Bay is a vision by a government that is about 250 billion dollars in the hole.
 
Queen Richmond has been shelved... or... temporarily halted which is too bad.

Current office projects under construction are:
- WaterPark Place III - construction about to start - Oxford
- 111 Richmond West - retrofit - confirmed - Oxford
- MaRS II - construction - Alexandria
- Sick Kids research - construction -
- Bremner Tower - construction - BCIMC/GWL

Tenant Shopping:
- BAII - Brookfield
- 156 Front West - Cadillac Fairview
- RAC III (Adeilate West) - Oxford
- ICE office building - Cadillac Fairview
- 45 Bay Street (I guess?)
- QRC - Allied

Outside of downtown:
- The TTC lot at Yonge and York Mills
- Yonge and Eglinton retrofit - RioCan
- 4800 Yonge - Oxford
- Hullmark Centre - is office condo's I wouldn't equate it with an office building...

I may be missing some (especially non core)...
 
Why do you say QRC has been halted ? Last we heard they're still looking for a tenant and they proceeded to do some work on the building to prepare ... you're right that they haven't secured a lead tenant yet but they're still looking as far as I'm aware ?
 
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I put it as tenant shopping :) on my list. Allied is renovating the building in the interim while it looks for a tenant. Halted is a strong word... but I'm not sure we can really say its a sign of Toronto's gangbuster office market either!
 
pw20 said:
I put it as tenant shopping :) on my list. Allied is renovating the building in the interim while it looks for a tenant. Halted is a strong word... but I'm not sure we can really say its a sign of Toronto's gangbuster office market either!
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Right I agree completely ... one argument to be made here is this is by no means what is typically considered prime real estate - but for the core to be successful we really want the greater east / west core to be strong. Generally speeking there isn't a huge amount of vacant space in that area anyway (i.e. lots of leasing transactions do take place) ... I think the difficulty here is typically most leases in this area are smaller in size, they're trying to lease a big chunk of space to one tenant ... that's hard to do out of the core in the 416.

It's easier in the 905 actually in many locations because you have large US companies which their Canadian operations headquartered there and they tend to move around when they expand / contract ... and they take a decent amount of space i.e. the 100-200K.

But east / west core is mainly media / tech / ... smaller tenants.


I think overall Toronto's core is too reliant on financial and government ... it's actually nice to see all the small tech / media companies in the greater core but more diversity would be great. If Toronto could attract those big US companies that would be amazing ... as opposed to them being located all around the 905.
 
I'm very glad that the city has held out on the zoning here for office space. I really hope this building gets built.
 
I was speaking to the local councillor on some other matters and brought up this rumour - unfortunately, he didn't know anything about these plans. So this one is far from becoming a reality.
 
probably either dead or sitting waiting for a tenant. I wouldn't expect too many suburban Toronto office projects until commercial property tax rates equalize later this decade.
 
You think commercial taxes make that much of a differences? Explain why Mississauga City Centre consistently loses to the likes of Meadowvale or Heartland.

It's parking, the costs of building up, multiple tenants including constraints to build to suit and, a dozen other things. That doesn't mean taxes aren't a serious consideration for a company's location but, they do get severely overblown as THE thing holding commercial development from the former boroughs.

Extending the Yonge Line up into Richmond Hill as well as continued high density development along the subway would have a much larger impact on commercial development in NYCC

One hopes Toronto takes full advantage of the VCC line and Vaughan ends up shooting themselves in the foot.
 
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innsertnamehere said:
probably either dead or sitting waiting for a tenant. I wouldn't expect too many suburban Toronto office projects until commercial property tax rates equalize later this decade.
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They will NOT equalize later this decade ! Or any time soon .....

The MCC comment is true but I do not see how that does not imply tax is a major factor ?

So in Mississauga the tax rate is equal throughout ... so all things being equal ... yes MCC should see office development ... but all things are not equal, as you said, land is much cheaper outside MCC, so relatively speaking those other areas will win out ... particularly when there is little advantage to locating in MCC.

VCC should be a very good test ... NYCC will likely be in direct compeition with VCC ... but building in VCC WILL be expensive (just like NYCC), office towers built there must have under ground parking ...
 
No not at all, the plan was never to equalize, actually the plan wasn't even set based on the rates in the surrounding municipalities. Rather the idea was to shift the tax burden from residential to commercial and improve this ratio within the city.

The problem being that in Ontario now, the commercial tax rate cannot be increased then more then 1/3 the residential rate ... and this applies to everyone ! So given this there is no way the city will ever catchup unless the suburban communities impose huge tax increases on the residential side ... but this may actually happen ... as the cities mature and cannot rely on greenfield development.
 
Since there hasn't been any discussion for about 3 and a half year here,... with the exception of a couple of post last year,... it's been awfully quiet.

And when it's quiet,... that's when you should expect something to happen! I expect something to happen with regards to 4800 Yonge (southwest corner of Yonge & Sheppard) in about 6 months or so,....
 
Hahaha:D sunny, thats your hood and you know something, so come on, YOU would not resurrect a 1yr old dead thread if you didn't at least "hear a rumour"
So is it going to be office, or residential?
 
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