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

Mike in TO said:
^ 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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Im not confused, And i dont think that the York Centre or others will start anytime soon , but then again all you need is a major anchor tenant willing to relocate to a prime downtown location. The Financial Post just didnt pic those figures out of a hat. There's a lot more than you know when it comes to marketing office space. And please dont mention the economy, thats old news and life and business in the Global Financial Centres goes on.
 
Automation,

Read the blurb that you posted again from the financial post and explain why it is a positive article (it basically says right there in plain english that there will be no new construction for the foreseeable future) - I don't think you are understanding basic economic terminology, so you might not want to suggest to others not to "mention the economy".... it kind of plays a small role in the development process.
 
Worked for Bay-Adelaide.

Or didn't work. At any rate, that's what they got: the world's most expensive parking lot.
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Bay Adelaide was not intentionally capped. I can't think of one multi-towered development, built in phases that had the entire underground parking structure completed at one time. RoCP, Equinox, One Sherway, Citygate, Circa, Platinum, Pinnacle Centre, etc. It's just too damn risky for any lender and/or developer's bottom line to spend millions (even tens of millions) upfront like that.
 
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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.
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I will admit I haven't been following the development so ,forgive me, however, I don't see why tower 1 cannot proceed without tower 2.
 
maestro said:
I will admit I haven't been following the development so ,forgive me, however, I don't see why tower 1 cannot proceed without tower 2.
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The presentation tower is located on the site. If they start digging, they would have to move it. Unless the only dig half the site but that doesn't make much sense. It would be cheaper to dig the whole site instead of part of the site. Also since Ice 2 is being sold next year, they might as well just dig the whole area. I don't think it's feasible to dig for ice 1 and then a year later or two dig for ice 2. Might as well wait until late 2010 or 2011 and dig them both at once.
 
maestro said:
Bay Adelaide was not intentionally capped. I can't think of one multi-towered development, built in phases that had the entire underground parking structure completed at one time. RoCP, Equinox, One Sherway, Citygate, Circa, Platinum, Pinnacle Centre, etc. It's just too damn risky for any lender and/or developer's bottom line to spend millions (even tens of millions) upfront like that.
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[/I]n london on. there was a proposal for 2 42s office towers and 1 32s office tower they built all the underground work for the site but the ended up building a five and 8 storie office buildings insted because they went bankrupt
 
Automation Gallery said:
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


http://www.financialpost.com/story.html?id=1862430
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The 5 million s.f. of new supply has been kicking around the business for a while and, generally, includes Bay Addelaide, Telus, RBC, PWHC and a few smaller projects (like the 200k s.f. of space in MLS as an example). The reporters will soon have to update a figure they have been using for a few years as RBC, BA and Telus start to be occupied they will no longer be future projects.
 
lately the info in Daily Commercial News hasn't been without errors, however, here is another bit of info from today...

CONDOMINIUM BUILDING Proj: 9107384-1

Toronto, Metro Toronto Reg ON NEGOTIATED/PLANS COMPLETE

Ice Condo, Phase One, 16 York St, M5J 2Z2

$98,000,000 est

Start: March, 2010 Complete: 2013

Note: Sales and Marketing are underway. Working drawings are nearing completion. Invited Sub trade tender and construction are expected January/February, 2010. Further update February, 2010.
Project: concrete foundation, cast-in-place concrete structural frame, structural steel frame, fuel fired heating system, proposed construction of a 55-storey condominium building with 453 suites. Units will range in site from 400 to 1,00 sq ft. The project will feature retail space at grade level and will be connected to the underground PATH system to Union station, Maple Lead Square, the Air Canada Centre, Rogers Centre and the CN Tower.
Scope: 900,000 square feet; 55 storeys; 2 storeys below grade; 453 units; 2 hectares
Development: New
Category: Apartment bldgs
 
Do you have a bet placed?

42
 
lately the info in Daily Commercial News hasn't been without errors
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Lately? It's Reed Construction Data. The Daily Commercial News is one of their publications.
 
This project should do well because of the location (it will interest a ton of suburbanites and investors) however its really expensive compared to Maple leaf square.
 
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