A tour of the facility when it opened also showed that they had the ability to expand. There is both space for more workers, and more capacity in the building's broadcasting capabilities.
42
A tour of the facility when it opened also showed that they had the ability to expand. There is both space for more workers, and more capacity in the building's broadcasting capabilities.
42
sodapop
Active Member
is the slide free for anyone to go down??? i'd love to try it, i like this project but find it alittle underwhelming as far as new projects go...
Urban Shocker
Doyenne
According to the three young women employees I spoke to in the lobby last night, you need a pass card to access where the top of the slide is.
Ol' sparky, the lightning bolt, was in fine form. One of my favourite - and most anticipated - recent pieces of public art.
Ol' sparky, the lightning bolt, was in fine form. One of my favourite - and most anticipated - recent pieces of public art.
Torontovibe
Senior Member
For those of you who haven't had a chance to see the new light poles beside Corus Quay, you can see them near the end of this video. [video=youtube;boLCm5dcGTs]http://www.youtube.com/watch?v=boLCm5dcGTs[/video]
gregv
Active Member
http://www.torontosun.com/news/torontoandgta/2011/02/09/17208561.html
City considers selling Corus Quay building
By JONATHAN JENKINS, City Hall Bureau
Last Updated: February 9, 2011 1:27pm
The time is ripe to sell the Corus Quay building on Toronto's portlands and recoup the $159.5 million cost of construction, city staff report recommends.
"(Toronto Portlands Corporation) advisors predict that the project can now be sold for an amount considerably in excess of the project development cost," the staff report, which was briefly placed on city council's agenda Tuesday and then removed by Coun. Michael Thompson, says.
TPLCs real estate advisors believe there is "strong demand amongst institutional investors for a commercial building with the characteristics of the project," the report says.
Corus Quay opened in the fall of 2010 at the foot of Sherbourne St. and Lake Ontario and is home to the headquarters of Corus Entertainment and 1,100 workers.
"There is the possibility of a sale," Thompson said Tuesday. "However there is some information that needs to be brought forward in relation to the report and we're going to have to have some discussion.
"That's the reason I had to pull it (from the agenda)."
Thompson said Build Toronto, the city's arm's-length real estate development corporation, will provide "service" to TPLC to assist with the sale.
"I don't know what the full amounts are," he said.
The Corus Quay development, now surrounded by Sugar Beach and Sherbourne Common, is the first commercial building to open in Toronto's redeveloping East Bayfront.
To build it, Toronto Portlands borrowed $128.5 million for the city and got another $12.5 million contribution from Waterfront Toronto.
But because TPLC can't borrow from anyone else but the city and the construction loan is coming due on March 31, the corporation has proposed putting the 500,000 square foot, eight-story building on the market.
City considers selling Corus Quay building
By JONATHAN JENKINS, City Hall Bureau
Last Updated: February 9, 2011 1:27pm
The time is ripe to sell the Corus Quay building on Toronto's portlands and recoup the $159.5 million cost of construction, city staff report recommends.
"(Toronto Portlands Corporation) advisors predict that the project can now be sold for an amount considerably in excess of the project development cost," the staff report, which was briefly placed on city council's agenda Tuesday and then removed by Coun. Michael Thompson, says.
TPLCs real estate advisors believe there is "strong demand amongst institutional investors for a commercial building with the characteristics of the project," the report says.
Corus Quay opened in the fall of 2010 at the foot of Sherbourne St. and Lake Ontario and is home to the headquarters of Corus Entertainment and 1,100 workers.
"There is the possibility of a sale," Thompson said Tuesday. "However there is some information that needs to be brought forward in relation to the report and we're going to have to have some discussion.
"That's the reason I had to pull it (from the agenda)."
Thompson said Build Toronto, the city's arm's-length real estate development corporation, will provide "service" to TPLC to assist with the sale.
"I don't know what the full amounts are," he said.
The Corus Quay development, now surrounded by Sugar Beach and Sherbourne Common, is the first commercial building to open in Toronto's redeveloping East Bayfront.
To build it, Toronto Portlands borrowed $128.5 million for the city and got another $12.5 million contribution from Waterfront Toronto.
But because TPLC can't borrow from anyone else but the city and the construction loan is coming due on March 31, the corporation has proposed putting the 500,000 square foot, eight-story building on the market.
DSC
Superstar
In today's Star there is an advertisement from the Alcohol and Gaming Commission about an alcohool sales licence application from "Against the Grain Urban Tavern" for an Indoor and outdoor area. Progress.
Atlantis
Active Member
now those are the kinds of street lamps I like to see on the waterfront
. Had no idea they were planning on changing the standard street lamps they originally installed. Does anyone know if they are planning on changing up the remaining lamps to these new ones as well?
Tuscani01
Senior Member
now those are the kinds of street lamps I like to see on the waterfront
If you go back in the thread, you will see that all of the standard poles were installed as a temporary measure until the permanent lights were made.
Atlantis
Active Member
ahh, thanks for pointing that out, I completely missed it
Patriot
Active Member
Where is the tavern going?
Southeast corner of the building. Read back in the thread a few posts!
42
42
Automation Gallery
Superstar
Paydirt on Toronto's waterfront
Proposed sale of Corus building may be a boon for city finances, and a sign of success on East BayfrontEvery so often our city government gets one right.
Shocking to believe, I know, but true.
The Corus building, the first office development on the city’s waterfront, between Jarvis and Sherbourne, is such a success story.
And we’ll soon get a dollar figure on just how successful — it’s about to go on the open market — although that will be only one checkmark on the report card.
City staff believe there’s a strong demand for a building like the lakeside Corus structure.
They expect the price tag to be well north of $160 million.
More...http://www.torontosun.com/comment/columnists/rob_granatstein/2011/03/18/17672211.html
Proposed sale of Corus building may be a boon for city finances, and a sign of success on East BayfrontEvery so often our city government gets one right.
Shocking to believe, I know, but true.
The Corus building, the first office development on the city’s waterfront, between Jarvis and Sherbourne, is such a success story.
And we’ll soon get a dollar figure on just how successful — it’s about to go on the open market — although that will be only one checkmark on the report card.
City staff believe there’s a strong demand for a building like the lakeside Corus structure.
They expect the price tag to be well north of $160 million.
More...http://www.torontosun.com/comment/columnists/rob_granatstein/2011/03/18/17672211.html
whatever
Senior Member
Yeah, but what kind of rent are we collecting on it? Maybe it'd be wiser long-term to keep the building and use the money from the lease to help pay for further improvements to the area
taal
Senior Member
Generally I'd agree - I'm suprised they're making so much on it - did the federal / provincial government chip in on this ? Is that way the figures are skewed ?
Anyway, I think selling it and making money will do a lot for encouraging the current administration to continue such efforts (i.e. oh, wow, we have a money maker ... let's keep going!).
DSC
Superstar
In June 2007 the City agreed to transfer land to TEDCO and the Corus Building was built on it. One of the conditions of this land transfer were:
An operational LRT from Union Station to Parliament Street, along Queen’s Quay East by December 31, 2011;
I think the date was later postponed but there is still no sign of this LRT and the more recent agreement with Hines for the land west of Lower Sherbourne also talks about better public transit being in place. "WT is required to use reasonable commercial efforts to ensure that sufficient public transit capacity (ie buses) is available to Bayside by July, 2013 and that Light Rail Transit (LRT) is operational by the end of 2018. Otherwise, WT is obliged to waive the requirement of Hines of developing the office parcels at C1 and C2 in advance of the balance of the residential buildings."
An operational LRT from Union Station to Parliament Street, along Queen’s Quay East by December 31, 2011;
I think the date was later postponed but there is still no sign of this LRT and the more recent agreement with Hines for the land west of Lower Sherbourne also talks about better public transit being in place. "WT is required to use reasonable commercial efforts to ensure that sufficient public transit capacity (ie buses) is available to Bayside by July, 2013 and that Light Rail Transit (LRT) is operational by the end of 2018. Otherwise, WT is obliged to waive the requirement of Hines of developing the office parcels at C1 and C2 in advance of the balance of the residential buildings."