Thanks Cabeman for coming through!
Now, next items on our thread agenda would be:
- how can we confirm who owns the surrounding properties to determine if there is a pooling of potential properties?
- what permitted zoning is on the site considering the more sensitive Wellington side (Draper too?) and the likely more liberal side of Front Street.
New Globe and Mail Headquarters (Wellington St W, ?,?)
Globe and Mail to build new headquarters
Globe and Mail Update
The Globe and Mail will build a new headquarters in Torontoâ€™s King West neighbourhood, an area of the city that has been a hive of condo and hotel development.
Woodbridge Co. Ltd., a private holding company that manages the assets of Canadaâ€™s Thomson family, including a majority stake in global information company Thomson Reuters Corp. and a will soon own a majority stake in The Globe and Mail said Thursday it will invest in new office space for the newspaper.
The space â€“ which hasnâ€™t been designed yet â€“ will be on Wellington Street West. The Globe currently backs onto Wellington, and the Thomson family owns about 80 per cent of the real estate on the block between Spadina and Portland streets.
â€œYou can't walk through the front door of this building anymore and say this is what a modern media company looks like,â€ said Geoff Beattie, chief executive officer of Woodbridge of the 47-year-old building that was formerly the home of the Toronto Telegram.
The announcement is one of the first hints of how Woodbridge plans to manage The Globe and Mail, which it acquired in a September deal as part of a deal that saw the Globeâ€™s current parent, CTVGlobeMedia, purchased by BCE Inc. for $1.3-billion. The deal is expected to close by the end of the year.
I think it would be in the 8 - 12 storeys range as it's more respective of the surrounding context (and I would not use CityPlace as some sort of precedent here). More importantly, is that the redevelopment of the site is being talked about publicly. It's a very significant property with lots of potential. I hope that the Toyota dealership site is redeveloped as well but I am not sure if that property is owned by the Thompson family also.
This is a very exciting project! I'm sure Ed's right about the condos on Front. Wellington has become kind of trendy street with a lot of boutiquey offices including several in media-related sectors. It's not a bad location for the Globe.
I certainly hope they try to promote a "sophisticated" image with good architecture. It's definitely not out of the question that they'd hire a very big national or international name.
One question is whether they might not want to build a larger complex and incorporate the CTV offices marooned out at Channel Nine Court.