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Can anyone tell me if this new building is being planned to be grander than the G&M original proposal? I know they want some commercial or "mini-eaton" but will this be tall?
 
ahmedyusali said:
if G&M HQ is cancelled why shoring machines still there ? does this mean they can still continue for digging until RioCan is
re-designing new building ?
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Depending on the progress of the Rigs and the stage Deep Foundations is at, it could be cheaper to just let them complete their contract instead of terminating it.

Redesign will drastically change structure, construction will stop

very unfortunate
 
Critique said:
Can anyone tell me if this new building is being planned to be grander than the G&M original proposal? I know they want some commercial or "mini-eaton" but will this be tall?
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No one knows a thing at the moment. The sale of the land was just transacted. You can't expect a replacement to be ready and leased instantly.
 
That's not true. The land was sold for note than $100m, which definitely tells us something about the scale of the redesign.
 
The land would obviously have sold for over $125 million to anyone interested, but that tells you nothing about the structures or kinds of properties that are going to be built. The land was pursued by Matamy, who intended a largely residential development (minus the Globe site). Allied and Riocan are likely considering much more retail and office. If they just bought the land where an active project was situated, they likely don't have an instant replacement.

But since you think you know, why don't you post it here.
 
Sources indicate that Globe and Mail will integrate their new head office into RIOCAN/Allied's proposal for the additional site they just acquired at Front/Spadina. The Globe is not moving to another location. It all makes sense - imagine how much premium retailers will pay /sqft to be on the corner rather than more west on Front.
 
Perhaps they first will be just the corner site with the office component before taking on the rest of the site.

I have mixed feelings on this. I am sad that the office building will not be built as I like the design a lot. But I'm happy that retail will take over a larger area. It will be a retail destination with this larger size.

Was there any other tenant that signed on with the new building? Will they be integrated into the new design as well?
 
I'm quite sure the Globe and Mail were always planning on selling their new headquarters to a REIT and signing a long term lease. It's a common occurrence as it's too much capital to have tied up in a non core asset. The new owners in turn usually do their own modifications. I'm just suggesting that this design may be only almost dead; not dead dead.
 
Does anyone know if the Thomson group also own the property that Toyota relocated to down the street?

Pic taken Dec 9, 2012


EgahV.jpg
 
maestro said:
I'm quite sure the Globe and Mail were always planning on selling their new headquarters to a REIT and signing a long term lease. It's a common occurrence as it's too much capital to have tied up in a non core asset. The new owners in turn usually do their own modifications. I'm just suggesting that this design may be only almost dead; not dead dead.
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G&M, though, we're never the owners. Woodbridge (a significant shareholder in the G&M) was developing the offices and would have been charging them rent.
 
The Insider said:
Depending on the progress of the Rigs and the stage Deep Foundations is at, it could be cheaper to just let them complete their contract instead of terminating it.

Redesign will drastically change structure, construction will stop

very unfortunate
Click to expand...

I noticed yesterday that the machines are now gone
 
The Insider said:
Depending on the progress of the Rigs and the stage Deep Foundations is at, it could be cheaper to just let them complete their contract instead of terminating it.

Redesign will drastically change structure, construction will stop

very unfortunate
Click to expand...


True, but there could be a positive.

Though I liked the old design a new design at what is now a much more important and high valued location (especially after the sell) could end up with a much grander design.

However, Toronto does have an odd and disturbing reputation of botching new designs... I hope we arent all crying in a few months (or years???) for the globe and mail design to come back .
 
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