Why'd they change the address from 151 to 171? Couldn't they have used 155? Or just kept it as 151? Personally I think 151 would be best, but that's just me
 
However, that they are seeking to sever the properties now is only good news. I say it just jumped from a 0-5% to a 40-50% chance of breaking ground.
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Why would severing the properties increase the odds of this building going up.
 
Ditto.

Maestro, Taal - there's something really different about this tower that makes it subject to different market forces - it's a 'Carrier Hotel'. The building will be wired to be an internet communications hub, like the 8 storey red-brick hulk on Front Street that it will perch behind. I'm assuming that there is some pent-up demand remaining in that market, as no other carrier hotels have been built in Toronto for eons. That's what makes this building more likely than others to get built sooner than later.

42
 
It's just an observation but, you don't apply to the committee of adjustments for five years down the road. It's an indicator we may see something with the property soon. I'm just hopeful it's not a for sale sign.
 
interchange42 said:
Ditto.

Maestro, Taal - there's something really different about this tower that makes it subject to different market forces - it's a 'Carrier Hotel'. The building will be wired to be an internet communications hub, like the 8 storey red-brick hulk on Front Street that it will perch behind. I'm assuming that there is some pent-up demand remaining in that market, as no other carrier hotels have been built in Toronto for eons. That's what makes this building more likely than others to get built sooner than later.

42
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Right, but that's not the entire tower is it? Only a portion of it will be used for the carrier hotel? I could be wrong in which I agree it is somewhat more likely it'll go ahead.

At the same rate, do not forget what fuels growth in such industry - if most users of carrier hotels are bunkering down and saving as much as they can it's not likely they'll be looking to expand in this area. On the other hand, some expansion is necessary just to keep up with client demand - so that could help
 
I can't see any further demand for space required for carrier equipment. The hardware replacing legacy systems has become so small that the equipment that formerly occupied whole rooms measuring 20' x 20' are now housed in a half rack with a 2ft square footprint.
 
Yes, but the demand for carriage has increased so greatly from the time that those legacy systems were designed that much space is still needed. All that's really changed is the density of traffic per square foot.
 
Much of the old equipment is still being used, while portions of the traffic is slowly being migrated over to new systems. I saw a lot of empty space during my last visit to 151 about 4 years ago. Carriers colocating with others wasn't unheard of at the time because of the over-availability of space.
 
Allied REIT (owner of 134 Peter and 544 King West) has just purchased 151 Front. Sounds like they are in no hurry to proceed with re-development plans. From the press release:

"The property includes surplus land on which 750,000 square feet can be
developed for specialized and general office use and for ancillary retail
use. The land has been rezoned to permit this development. Allied does
not intend to pursue this opportunity in the near-term, but believes that
it will augment the significant value-creation opportunities present in
its Toronto portfolio."
source: http://www.alliedpropertiesreit.ca/documents/APREIT_2009_09_14_Press_Release_Acquisition.pdf

Announcement of deal closing: http://www.alliedpropertiesreit.ca/documents/APREIT_2009_10_28_Press_Release_Acquisitions.pdf
 
from today's Daily Commercial News..........

OFFICE, RESEARCH CENTRE Proj: 1323767-15
Toronto, Metro Toronto Reg ON PREPARING PLANS
Technology Centre, 151 Front St W, 7 Station St, 20 York St, M5J 2N1
$180,000,000 est
Note: This property has been sold to a new owner. Site plan has been approved. Design and constrcution schedules have not been determined. Further update July 2010.
Project: proposed construction of a 36-storey building that will include; 55,231 sq m of office space (from the 12th to 36th floors) and a 7,943 sq m technology centre located on floors eight to 10. Floors four to eight will consist of mechanical rooms. The building will also include a two-storey glass-clad galleria. This will be connected by the Toronto Skywalk at the second and third floors.
Scope: 113,090 m²; 36 storeys; parking for 474 cars
Development: New
Category: Commercial offices; Educational bldgs
 
So the building is now almost completely an office building (25 floors) with a relatively small carrier hotel component (3 floors) and 5 mechanical floors.

I had not thought that the market exists for 55,231 square metres (= 594,487 square feet) of additional office space at this time. That's almost as much office space as 18 York will have.

No doubt that is why no ground-breaking date has been set.
 
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