Observer Walt
Senior Member
Daniels, who are developing the Film Festival complex on King between Widmer and John, have recently purchased the parking lot at 21 Widmer Street, just to the north (south of Adelaide). The site has 17,585 square feet of area, and 187 feet of frontage along Widmer, more than enough for a condo tower, or maybe two.
Pinnacle International, who built "Pinnacle" at Bay and Harbour, and who are now starting the big project at Hurontario and Eglinton in Miss., have bought two other parking lots just north of TIFF. One is at the southwest corner of Adelaide and John (32,910 square feet), and the other is at the southeast corner of Adelaide and John (15,120 square feet). There would be an opportunity to have two towers across from each other at this corner, maybe with coordinated architecture.
I don't have further details of proposed developments yet, but it looks like three parking lots will be disappearing, and the Lightbox will have some neighbours which will hopefully be worthy of it.
As an aside, Pinnacle paid $802 per square foot of site area, up significantly from the range of $500 to $600 which has prevailed in this part of town until quite recently. At that price, we can expect something fairly large and significant.
Pinnacle International, who built "Pinnacle" at Bay and Harbour, and who are now starting the big project at Hurontario and Eglinton in Miss., have bought two other parking lots just north of TIFF. One is at the southwest corner of Adelaide and John (32,910 square feet), and the other is at the southeast corner of Adelaide and John (15,120 square feet). There would be an opportunity to have two towers across from each other at this corner, maybe with coordinated architecture.
I don't have further details of proposed developments yet, but it looks like three parking lots will be disappearing, and the Lightbox will have some neighbours which will hopefully be worthy of it.
As an aside, Pinnacle paid $802 per square foot of site area, up significantly from the range of $500 to $600 which has prevailed in this part of town until quite recently. At that price, we can expect something fairly large and significant.