I have to say, it's a nice design but really, given the location, this is truly a mediocre effort. This is an outstanding location - better in many way that 45 Bay, yet they chicken out with a very modest office building - just like all the other 30 something office buildings being proposed. Sites like this don't come around very often.

- Connected to the PATH, The Rogers Centre, The ACC, The future Oxford Centre, The Convention Centre (Casino?), The CN Tower, The new Aquarium, The financial district, many great hotels, hundreds of first rate restaurants, walking distance to the lakefront, The QEW.....

and you propose a modest 36 story tower?

You could build 80 to 100 stories and leasing would take care of itself.


someMidTowner said:
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Just to be clear, a go-ahead on this tower is not imminent.

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Big Daddy said:
- Connected to the PATH, The Rogers Centre, The ACC, The future Oxford Centre, The Convention Centre (Casino?), The CN Tower, The new Aquarium, The financial district, many great hotels, hundreds of first rate restaurants, walking distance to the lakefront, The QEW.....

and you propose a modest 36 story tower?
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The main driver for this going ahead would be server room space and office space being needed. Servers and office staff aren't going to be any more motivated by Rogers Centre, ACC, Casino, CN Tower, Aquarium, Hotels, and lakefront. They will be motivated by Union Station and the network infrastructure that converges in that area. The office buildings being built these days are not 80 storeys, there is need for office space now but a concern that telecommuting and flex work will drive that down at some point.
 
EnviroTO said:
Servers and office staff aren't going to be any more motivated by Rogers Centre, ACC, Casino, CN Tower, Aquarium, Hotels, and lakefront. They will be motivated by Union Station and the network infrastructure that converges in that area.
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Servers sure, but office workers? Of course they care about the amenities of the surrounding area. And when they care, the executives that make leasing decisions care.

People like to occasionally catch a game (Leafs/Raptors/Jays) after work. I'm sure they also like bragging to their friends that they work next to the CN tower. And there's a reason hotels target the business traveler.
 
Xray_Crystal_Junkie said:
Servers sure, but office workers? Of course they care about the amenities of the surrounding area. And when they care, the executives that make leasing decisions care.
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Office worker availability has no attachment to tourist attractions and special events. Corporations are not going to locate office space downtown to save a few executives a longer trip to the corporate box at the ACC. That is ridiculous. The amenities that matter are the ones that lure office workers every day like being able to walk to lunch, and to commute from home to work. Who is going to say "I'm not going to take a job at Airport Corporate Centre" because it is too far from the Leafs?
 
EnviroTO said:
Office worker availability has no attachment to tourist attractions and special events. Corporations are not going to locate office space downtown to save a few executives a longer trip to the corporate box at the ACC. That is ridiculous. The amenities that matter are the ones that lure office workers every day like being able to walk to lunch, and to commute from home to work. Who is going to say "I'm not going to take a job at Airport Corporate Centre" because it is too far from the Leafs?
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A location that appeals to both office workers and management is definitely a major factor. Major corporations are always looking for ways to attract and retain workers and a location such as this makes that so much easier. I've been on committees looking to find space to relocate and I assure you this type of location is a major score. It's simply close to everything - this is a hands down winner.
 
Why would any corp wants to set up their office right next to a casino? Employees hitting the slots instead of Starbucks during coffee break?
 
EnviroTO said:
Office worker availability has no attachment to tourist attractions and special events. Corporations are not going to locate office space downtown to save a few executives a longer trip to the corporate box at the ACC. That is ridiculous. The amenities that matter are the ones that lure office workers every day like being able to walk to lunch, and to commute from home to work. Who is going to say "I'm not going to take a job at Airport Corporate Centre" because it is too far from the Leafs?
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This is ridiculous, I'm not going to bother.
 
I've always thought a main reason many businesses moved to 905 was due to golf. The bosses/owners wanted to be close to their golf and country clubs.
 
I thought it was because office park leases are cheap and they could be closer to employees.. almost nobody lived downtown 20 years ago
 
Businesses moved to 905 due to lower commercial property tax. The notion of being closer to where employee lives is dubious. You are only closer for employees living in the same suburb. Case in point, when Rogers moved their IT and Network folks out to Brampton, a lot of the Scarborough/Pickering/Ajax employees suffered. Some eventually quit.
 
Not all businesses are equal - those sensitive to commercial property taxes (e.g. back offices) will of course move to jurisdictions. Other businesses dependent on agglomeration effects, accessibility to amenities, proximity to target labour pool and prestige will consider the higher taxes a cost of doing business, offset by the forementioned benefits.

AoD
 
Yes but this is a problem with Toronto in general ... particularly the outer 416. Our commerical property tax rates are extremely disproportionate to the 905 (close to 1.8X) ... this is unheard of in North America.

Let me be clear ... its not the exact rate (Vancouver has a higher rate) rather the different between the 416 and the 905 that's the problem.

In most areas, there is little to no difference in the commerical tax rate, sure net rental rates are higher downtown in any city due to the cost of building offices and demand. But not so in the outer part of a city ... and hence why you have'nt seen a new office tower go up outside of the core in years.
 
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