This is going to have such an impact. Fairly confident that we'll get some stunning quality given the Rogers+Oxford partnerships elsewhere...
 
This project is great for architecture in the city. However, the risk with the glass cladding is that it won't stand out in the sea of glass towers unless you're two blocks away.
 
OK, now that we know it will be built on spec, will the city fast track the application or sit on the normal 2-3 year approval time?
 
junctionist said:
This project is great for architecture in the city. However, the risk with the glass cladding is that it won't stand out in the sea of glass towers unless you're two blocks away.
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The structural elements should make this stand out without taking into account the glazing - which I am presuming will be low iron rather than the usual green glass in the residential projects around the area. And from the street level the semi-exposed coloured cores will pop in a way that I can't think of having any office tower precedent.

They actually mentioned vierendeel columns in the Planning Rationale make me swoon.

AoD
 
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I think based on that article it's clear that Oxford will be building this on spec. They have high confidence in the office tower market, and they are in the business. I highly doubt Toronto is going to take 3 years to approve it. My guess is that by this time next year we will have an approval, and first stage construction will begin by mid to late 2019.
 
travis3000 said:
I think based on that article it's clear that Oxford will be building this on spec. They have high confidence in the office tower market, and they are in the business. I highly doubt Toronto is going to take 3 years to approve it. My guess is that by this time next year we will have an approval, and first stage construction will begin by mid to late 2019.
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It's not clear at all; Hutcheson's comments can basically be summarized by saying that there's a world in which they'd proceed to build on spec but would obviously rather have a lead tenant (or more) lined up -- to quote him directly: "We are prepared too, but we don't think it will come to that."
 
ADRM said:
It's not clear at all; Hutcheson's comments can basically be summarized by saying that there's a world in which they'd proceed to build on spec but would obviously rather have a lead tenant (or more) lined up -- to quote him directly: "We are prepared too, but we don't think it will come to that."
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It's clear. He did not say "there's a world far far away, in which there's a small hypothetical chance that in a dream this building may go on spec". You need to learn to read between the lines better. He is saying Oxford is planning to build this one on spec, but his feeling is that they won't need to because the market is so tight that by the time they get their approvals back they will likely already have tenants interested. It's pretty cut and dry. Just like Cadillac Fairview went ahead with 16 York on spec. It's a very possible and reasonable assumption that in this market any competent developer would go on spec, especially with this location.
 
They are not 'planning' to build on spec, it is a fallback if tenants don't line up like they expect. If they don't, spec it will be.
Aside, I am happy to hear the ol' pension is doing so well.
 
travis3000 said:
He did not say "there's a world far far away, in which there's a small hypothetical chance that in a dream this building may go on spec". You need to learn to read between the lines better.
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You're right; he didn't say "in a far away world", and neither did I.

There is a fundamental difference between: "we are building this on spec as soon as we have approvals, tenants be damned" and "we could move ahead with this on spec but we're pretty sure it won't come to that." Hutcheson pretty clearly stated the latter.

Pretty cut and dry, indeed.
 
Maybe it's better not to overanalyze a press release. They can say whatever they want to sell this project.

We are 2 years away from them having the permits to begin. It should be fully leased by then with the market being so hot. The rewards of spec building is just not worth the added risk otherwise, everyone would be doing it. That is how it for decades.
 
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