Toronto Ïce Condominiums at York Centre | 234.07m | 67s | Lanterra | a—A

Daily Commercial News

This is a good sign that the office component of York Centre + ICE condos is progressing ~ :)
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COMMERCIAL OFFICE, RETAIL BUILDING
Proj: 9098337-2
Toronto, Metro Toronto Reg ON
NEGOTIATED/PLANNING
York Centre, Bremner Blvd, York St, Ford York Blvd, M5J
$118,000,000 est

Note: Preliminary planning is underway. Sales and Marketing of the Ice Condominium project on the site is underway. Schedules for Working drawings, tender and construction will be set based on sales of the Condo buildings, report number 9098331 and occupancy. Further update early Summer, 2010.

Project: proposed construction of a commercial office building with a retail podium at grade level. This project will be connected to the underground PATH system to Union Station, Maple Leaf Square, the Air Canada Centre, Rogers Centre and the CN Tower.

Scope: 841,000 square feet; 32 storeys; 2 storeys below grade

Development: New

Category: Commercial offices; Retail, wholesale services

First report Fri Mar 27, 2009.
This report Tue Aug 25, 2009.


http://dcnonl.com/cgi-bin/top10.pl?rm=show_top10_project&id=1d03fd2ffe110ead7a820dfef626e172b68d5eb3&projectid=9098337&region=ontario
 
This seems to be a good new for the office part of development. I hope they may make the three foundations together. Tower 1, 2, and office building
 
I think they're going to dig the whole site together too. It will save them money rather than separately. That said I don't think they will start excavating until 2011-2012. They're bringing Ice 2 into the market next year so unless they relocate their presentation centre, they won't be able to excavate.
 
AKS said:
I think they're going to dig the whole site together too. It will save them money rather than separately. That said I don't think they will start excavating until 2011-2012. They're bringing Ice 2 into the market next year so unless they relocate their presentation centre, they won't be able to excavate.
Click to expand...

I predict a sellout of Ice-2 three months after sales start.:) any bets :D
 
Automation Gallery said:
I predict a sellout of Ice-2 three months after sales start.:) any bets :D
Click to expand...

I wouldn't be too surprised if it's sold out fast considering 1 bloor died. All those people need to purchase elsewhere. I would guess Tridel Hullmark and 300 front and Ice will be popular.
 
That sales centre looked like it was being built to withstand a move, so I don't think it beyond the realm of possibility that we may see it trucked down the street
 
I don't see them digging out the whole site unless the office tower and one of the residential towers moves forward and it will take a near miracle for the office tower to start construction anytime soon.
 
maestro said:
I don't see them digging out the whole site unless the office tower and one of the residential towers moves forward and it will take a near miracle for the office tower to start construction anytime soon.
Click to expand...

They just need to dig and add in the parking underground. I doubt the office component will start construction any time soon. They'll probably build the condo towers first and concentrate on those. The office component will probably be a stump for the next few years.
 
They just need to dig and add in the parking underground.
Click to expand...


...at a cost of tens of millions for a tower or towers that may not get built for another 5 to 10 years.
 
maestro said:
...at a cost of tens of millions for a tower or towers that may not get built for another 5 to 10 years.
Click to expand...

The office building may not get built for another 5-10 years but the condo towers will. I was told Ice 2 would be selling next year, so I doubt it they would be able to delay building it for the next 5-10 years or they waste their time on sales because people would want their deposits back.

As for the parking from the doc it says the following:

317 spaces for office building
15 spaces for retail
5 spaces for car share
593 residential parking spaces

320 residential bicycle parking spaces below grade
80 residential visitor bicycle parking on ground floor
80 spaces for office and 6 spaces for retail uses

76 residential visitor parking will be in the commercial garage during non-office hours. So that leaves 241 parking spaces they could rent out if the office component isn't built.

There's some slight discrepancy. Later there's they say 60 residential visitor parking instead of 76.

Staff have reviewed the phasing plan with respect to parking . The Phase 1 residential
parking supply is satisfactory. The proposed allocation of resident spaces between Phase
1 plus Phase 2 is 598 spaces. Staff estimate that the combined parking demand for Phase
1 plus Phase 2 would be 520 spaces plus 5 car share. Staff recommend that 72 of the 598
residential parking spaces be reserved for residential visitors before the completion of the
office building in phase 3. Once the commercial garage has been constructed, the
"visitor" spaces would be surplus, and could be made available for sale to residents.
Clarification from the owner as to how visitor parking will be accommodated during
construction of the office building is required. Staff recommend that 60 spaces for
residential visitors during non-office hours be proved when the office building is
completed.
Click to expand...
 
maestro said:
...at a cost of tens of millions for a tower or towers that may not get built for another 5 to 10 years.
Click to expand...

Something other than Corus and PWHC is going to be built when they are predicting 5 million square feet of new office space over the next 36 months

Office vacancy rates to go even higher
Financial Post
Published: Wednesday, August 05, 2009

Neither Calgary nor Toronto can expect any immediate relief as both will see millions of square feet of new supply coming onto the market over the next 24 to 36 months (seven million for Calgary and five million for Toronto. Both will definitely surpass the 10% vacancy rate in the months ahead,

http://www.financialpost.com/story.html?id=1862430
 
^ I think you are very confused if you think that the post you just made indicates in any way whatsoever that new office space (i.e. York Centre) will start construction anytime soon.
 
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