sunnyraytoronto said:
;p

The land is zoned for office use only. Seriously,.... you think the city will accept a 50 storey residential condo development application from Menkes for land zone for office use only,..... Seriously??? City is opposed big time to this development proposal,.... Menkes will take it to OMB as they did with GibsonSquare to get that condo development on land zoned for offices and that one also broke the 100m height limit in North York Centre,...... this one going to OMB
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Oh absolutely the city isn't going to be a fan of it if the project comes in with 0 office GFA. Doesn't mean that the city won't be able to beat some office space out of Menkes in negotiations, however, or if they will even win at the OMB if it does indeed go there. As for "new tallest", we will have to wait until we get an actual application.
 
innsertnamehere said:
Oh absolutely the city isn't going to be a fan of it if the project comes in with 0 office GFA. Doesn't mean that the city won't be able to beat some office space out of Menkes in negotiations, however, or if they will even win at the OMB if it does indeed go there. As for "new tallest", we will have to wait until we get an actual application.
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Yeah,.... just like the city was "able to beat some office space out of Menkes in negotiations" for GibsonSquare,.... twin 42 storey condo tower on land zoned for office only,..... how much office space does GibsonSquare has???? NONE!

As for Automation Gallery calling for 60 storey,.... I already told you it'll be 50 storey of condo,...
 
Automation Gallery said:
Yeah, but office space didn't make sense up there, it does make sense @ this intersection
Hey, remember that Menkes is known to build office bldgs, dont count them out here
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Wait, you're saying office space doesn't make sense up at where GibsonSquare is????? Look across the street! At North York City Centre,.... twin office towers on Yonge, offices in atrium, offices in back,....
https://www.gwlrealtyadvisors.com/properties/northyorkcentre.aspx

Menkes make money at condos not offices,.... Menkes build offices towers and get rid of them as they did with 5000 Yonge (TransAmerica/Aegon) to GWL for $250 mil.
 
sunnyraytoronto said:
Wait, you're saying office space doesn't make sense up at where GibsonSquare is????? Look across the street! At North York City Centre,.... twin office towers on Yonge, offices in atrium, offices in back,....
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Come-on sunny. ...Im just saying that its not 1987, but 2015 where office space is not as much in demand for that region.
 
Menkes buying the property doesn't suddenly increase the demand for office space at this intersection. In fact, that a large pension fund backed, patient, commercial developer let go the property can be used as a strong indicator that there is little need for a large, leasable office development now or for the foreseeable future.

I agree that anything that comes forth over the next five years will be primarily residential with perhaps office condos to appease the city. Condos of any usage (office/retail/hotel/industrial) sell well in Toronto.
 
stjames2queenwest said:
As long as it's KPF I will be content
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Since the early 1990's, OxfordProperties had city approval for phase2 of Nestle twin towers,.... but never proceeded because office market tanked after they finished Nestle Tower phase 1.

A few years ago, KohnPedersenFox was used by the previous owner OxfordProperties to come with rendering for an updated 25 storey office tower proposal. It was NEVER presented to city for any development application. It seems it was mainly used by OxfordProperties as marketing material to sell of the lot. Earlier this year, Menkes brought the lot from OxfordProperties for $12.7 million,... Look around North York Centre at all the Menkes built towers,.... Menkes definitely does NOT design towers anywhere close to KohnPedersenFox calibre,.... instead you should lower your standards to expect something like Menkes GibsonSquare.
 
Overall, I'm not too impressed by any recent KPF designed builds in Toronto. It may not be fair to fault KPF entirely but, the quality just isn't there.

I was under the impression Oxford came on board much later. Another developer that built several North York Centre towers owned the site throughout the 1990s.
 
maestro said:
I was under the impression Oxford came on board much later. Another developer that built several North York Centre towers owned the site throughout the 1990s.
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Maestro, you maybe right,... the blue glass exterior of Nestle building does look like the blue glass exterior of North York City Centre.

My understanding is phase 2 of Nestle twin building (phase 1 completed 1994) was supposed to be OMERS (Ontario Municipal Employee Retirement System) building on this site. In 2001, OMERS acquired OxfordProperties to become their real estate arm,..... Nestle Building is now controled by H&R REIT.
 
4800 YONGE ST
Ward 23 - North York District

Construct a 49 storey mixed use building 37,411.42 square metres of residential and 536 dwelling units and 5 storeys of commercial and 6 storeys of below grade parking.
Proposed Use --- # of Storeys --- # of Units ---
Applications:
Type Number Date Submitted Status
OPA 15 250774 NNY 23 OZ Nov 12, 2015 Under Review
 
sunnyraytoronto said:
Earlier this year, Menkes brought the lot from OxfordProperties for $12.7 million,...
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Only $12.7 million? Considering the price of houses in the area this seems rather cheap.
 
Yes, it would have been the zoning that kept that price so low. There is precedent across the street however, and they will argue based on that for sure.
 
I don't mind adding condos to the mix on this site, but certainly the office component should not be reduced here at all ... after all it is literally sitting on 2 subway lines !
 
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