Toronto 1181 Sheppard Avenue East | 126.85m | 38s | Concord Adex | DIALOG

[taal]

If Toronto wants to lower their commercial tax rates they, of course, can.....but they would have to raise their residential taxes at the same time (money does not grow on trees).....not sure how much support for that there would be.

You hit it on the nail, we need to do 3 things:
Raise residential rates ... they're the lowest in the GTA by quite a bit ... someone needs to it, if there's a support or not.
If not, start cutting out budget to make it possible
Increase development charges ... again we have the lowest in the GTA.
Third, province needs to equalize education business tax for Toronto, I think they are over the next 3 years.

I have a feeling 20/30 years from now, one way or another, they will be a lot closer to whatever the rates are in the 905, but a lot of damage will be done in the meantime.

 

[Edward Skira]

Based on your numbers he is saying:
401,000 sq. ft. x 100% (2180 Yonge)
155,000 sq. ft. x 100% (the third building between the two)
270,000 sq. ft. x 75% (2200 Yonge)

I'm in 2200 and I'd be shocked if 75% is occupied by Canadian Tire.

 

[taal]

I'm in 2200 and I'd be shocked if 75% is occupied by Canadian Tire.

Well I can guarantee you they don't own 100% of 2180 as I know for a fact as of this very moment TVO is headquartered there.
So I doubt all the figures ... maybe they were right at some point though! Seems a little bit unlikely though because that's just too much space for such an organization ...

 

[Tuscani01]

Yea those numbers are definitely off.

CT is the main tenant at 2190 & 2180. Both buildings are shared with TVO and other tenants.

As far as I know, there is no presence at 2200.

 

[taal]

Yea those numbers are definitely off.

CT is the main tenant at 2190 & 2180. Both buildings are shared with TVO and other tenants.

As far as I know, there is no presence at 2200.

Can you give us any hints ?

 

[Edward Skira]

Canadian Tire does have some space in 2200 on the subway access level. This would be the second floor and it contains some meeting rooms. I don't think they have anything above that.

 

[Tuscani01]

Can you give us any hints ?

I already said there is no movement. They are happy at Yonge-Eglinton for now. There are some other sites being looked at, but any talk of a move is premature at this point. It's not a priority.

 

[taal]

I already said there is no movement. They are happy at Yonge-Eglinton for now. There are some other sites being looked at, but any talk of a move is premature at this point. It's not a priority.

Cool, last question ... because I'm sure this getting annoying for you

When there was talk you said they were planning on staying in Toronto ... I find that rather odd, not necessarily that they wouldn't leave for the 905 but that they would restrict there options early on ... they really don't need to be in a highly accessible area ... and if rents are all that much lower ...

Anyway, that's all out of me, I've made my points regarding the tax issues at play here.

 

[adma]

Yea those numbers are definitely off.

CT is the main tenant at 2190 & 2180. Both buildings are shared with TVO and other tenants.

As far as I know, there is no presence at 2200.

Currently, the closest thing to a "presence" at 2200 is...Lavalife.

The spirit of Young & Eligible lives on.

 

[urbandreamer]

Here's an idea: Why not build a new office building on the site of their original retail store @Yonge and Church? Have an updated store there, more parking, then sell off the other half of the property to a condo developer. Or, hook up with Tridel and do an office/condo tower hybrid like that clunker they're building at Yonge and Sheppard?

 

[Edward Skira]

Checked the tenant list for 2200. The only space they have here is the meeting rooms on 2.

 

[Northern Light]

Dreamer,

They have sold 1/2 the property to condo developers, there's already a thread here on 'Milan Condos' I think it is; its a Conservatory Group development on the majority of the parking area for their Yonge/Dav store.

 

[urbandreamer]

I'm aware of that. Is Milan going to have a phase 2?

I just think an office tower above an expanded Crappy Tire on this site would make tons of sense.

 

[Observer Walt]

No Phase 2 for Milan, as far as I am aware. I doubt there would be room for anything significant, unless they were to build over the existing retail store as mentioned. I don't know what the engineering implications of that would be; I would imagine a new set of foundations and support pillars would have to be installed and I would doubt that it could be done, even ignoring the need for parking space.

 

[Tuscani01]

Does anyone have any pictures of the Sheppard/Leslie site before Canadian Tire's retail operations centre was sold to Concord and demolished? I've tried searching for some, but found absolutely nothing!

In a related note to this thread, Canadian Tire has signed a 5 year lease at Yonge and Eglinton. They are staying put.