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Bay Adelaide Centre West Tower (Brookfield, 50s, WZMH)

Re: Official Bay Adelaide Centre Thread

^
Trizec sold the CN Tower to the Canada Lands Company over two years ago.
 
Re: Official Bay Adelaide Centre Thread

I've always thought that Toronto's biggest attraction (literaly and figuratively) needed a bit more integration into the city. I hope it will be linked to Waterfront, and some sort of attraction at its base would make the experience more complete.
 
Re: Official Bay Adelaide Centre Thread

Thanks SGM.

I was in the base during the World Cup final viewing @ The Skydome and I noticed some major security changes. There is now no access to the upper level of the base without going through a wall of bomb sniffing portals.

I think that the West 8 proposal to build a CN Tower park that includes the roundhouse and suggests a trail should be built, with a bridge over Lakeshore all the way to the foot of the water is an ideal one.

..but this is a Bay Adelaide thread after all, so I'll leave my remarks about the CN Tower at that.
 
Re: Official Bay Adelaide Centre Thread

SGM,

Isn't Canada Lands Company a crown corp that is focused on the liquidation of surplus Federal Gov't land?
 
Re: Official Bay Adelaide Centre Thread

^
No, I don't believe that's their focus, but I guess it depends on what you mean by surplus.


From what I hear, CLC aims to further develop the CN Tower.
I believe CLC officially changed the name of the tower to Canada's National Tower.

Emporis did a write-up on the transaction from Trizec to CLC.

www.emporis.com/en/bu/nc/ne/?id=101016


I'm so glad Trizec got out of the office market in Toronto, or else the stump would be sitting there until 2030. They can't build anything, anymore.
 
Re: Official Bay Adelaide Centre Thread

Trizec did very little good while it was owner of the tower. Here's hoping that the new owners take a little bit more care about the grounds surrounding the huge tourist site (and the talk about expanding the base into more tourist attractions, has largely fell silent).
 
Re: Official Bay Adelaide Centre Thread

Well, to be fair, Trizec developed the entire new base of the tower. Previously, there were small ticket booths and elevator doors. Trizec also moved the stairs from one of the three sides of the tower to its core and added 2 more elevators resulting in a total of 6 (there were 4 before).

Trizec did well in their tenure but seemed to stall after that.
 
Re: Official Bay Adelaide Centre Thread

and now back to bay adelaide...here's an annoucement...about an annoucement coming next week.

Bay-Adelaide project set to get under way
Jul. 15, 2006. 01:00 AM
TONY WONG
BUSINESS REPORTER

Developers at the moribund Bay-Adelaide office tower project in Toronto's financial district are finally expected to get a shovel in the ground.
Sources say developer Brookfield Properties Corp. will announce a ground-breaking set for next week.
The lead tenant is thought to be consulting firm KPMG LLP.
KPMG, whose offices are spread in three main areas throughout the city, would likely lease 225,000 to 250,000 square feet, said one source.
First approved by Toronto city council in 1989, the site was slated for a 57-storey office tower. But work halted when the real estate market imploded.
While a parking garage and some infrastructure remains, the project has largely been seen as symbolic of Toronto's economic fortunes. A plan to restart the project in 1999 on a downsized scale failed to materialize after an anchor tenant could not be found. A new 50-storey tower with a public square has been approved by Toronto council.
It was expected that with some infrastructure intact, the Bay-Adelaide project had an advantage going to market. But this year, two other projects have already been announced, including the Menkes Developments Telus tower adjacent to Union Station announced this week, and the Cadillac Fairview tower in the city's entertainment district announced earlier this year.
"This is the most significant development cycle downtown has seen in more than 10 years," said Paul Morse, executive vice-president of Cushman & Wakefield LePage. "What you're seeing is a development cycle in full bloom."
With three projects set for completion by 2009, Toronto expects another 3.1 million square feet of office space, said Raymond Wong, national director of research for CB Richard Ellis.
A spokesperson said KPMG would not comment. A Brookfield spokesperson could not be reached.
 
Re: July 19th Brookfield Properties to Announce Major Develo

Brookfield Properties to Announce Major Development in Toronto's Financial Core


'Stump Busting' and Construction Commencement to Take Place in Financial
District

TORONTO, July 18 /CNW/ - On Wednesday, July 19, 2006, Brookfield
Properties Corporation president and CEO Ric Clark, joined by Toronto Mayor
David Miller and other dignitaries, will make a major real estate development
announcement regarding the site of Toronto's famed 'Stump' located on the
north side of Adelaide Street West between Yonge Street and Bay Street.
The announcement of this new commercial development will see the
landscape of the city's financial district change dramatically, as it is the
first significant development in Toronto's financial core since the BCE Place
was completed in 1992.


WHAT: Toronto Mayor David Miller and Brookfield Properties president
and CEO Ric Clark will raise a sledgehammer to a bull's eye
target marked on the 'Stump'


WHERE: The 'Stump'
Located on the north side of Adelaide Street West, between Yonge
Street and Bay Street
Enter site on Adelaide Street West, at Gate 3


WHEN: Wednesday, July 19, 2006

1:30 pm - 2:30 pm - Brookfield Properties Corporation
Announcement Ceremony

1:45 pm - 2:10 pm - Speaking remarks by Ric Clark and Mayor
David Miller

2:15 pm - 'Stump busting' photo opportunity

2:20 pm - Media Q&A session
 
Re: July 19th Brookfield Properties to Announce Major Develo

The announcement of this new commercial development will see the
landscape of the city's financial district change dramatically, as it is the
first significant development in Toronto's financial core since the BCE Place
was completed in 1992.
Click to expand...

This stuff starts to sound awfully familiar.

Menkes, regarding Telus Tower.

Peter Menkes, president, Commercial/Industrial of Menkes Developments,
said "Menkes is very excited to be developing the first major office tower in
downtown Toronto in over a decade. Demand for high-quality office space in the
Greater Toronto Area (GTA) is growing and our decision to move forward on this
project reflects our belief that downtown Toronto is a dynamic place to do
business for Canadian companies, whether they are operating locally,
nationally or on a global basis."
Click to expand...

RBC Dexia

"Cadillac Fairview is excited to be the developer of the most significant
new building in downtown Toronto in the last 15 years," said John Sullivan,
Senior Vice-President of Development for Cadillac Fairview. "We have been in a
tight competition to secure a lead tenant. Our ability to sign a major client
ahead of other substantial planned developments is a testament to the quality
of this new asset and the invaluable dedication of our team."
Click to expand...
 
Re: July 19th Brookfield Properties to Announce Major Develo

While they are bringing down the stump, they are sadly not announcing anything for that particular piece of land. Even with the development of this new tower, there will be a huge stretch of land between it and the Yonge Street lowrises, which will remain empty (yes, I know something is planned but it could take another 10-15 years).
 
Re: July 19th Brookfield Properties to Announce Major Develo

So I guess the glass is half empty.
 
Re: July 19th Brookfield Properties to Announce Major Develo

^
In the meantime, isn't it going to be a nice downtown square?

I need to look at the plans.
 
Re: July 19th Brookfield Properties to Announce Major Develo

The plans aside, are they going to build the square before or after the second building is built (and decided upon. heck, this building changed in the short time between submitting the plans to the city and the announcement)? My guess is that they will wait until the second building is complete before finishing a square between the two.
 
Re: July 19th Brookfield Properties to Announce Major Develo

They will be putting something in the middle. They're certainly not leaving the stump.
 
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