Toronto Bauhaus Condos | 110.9m | 32s | Lamb Dev Corp | a—A

The rendering:

284KingEast.jpg
 
Very nice.

The city could only benefit from similar-sized office developments in different parts of town.
 
I would imagine that most (all?) of this space is for NWVP and their related companies. A little over a year ago they rolled most of their medical office building portfolio into a new REIT (Northwest Healthcare Properties Trust)....after a very successful IPO, there have been additional public offerings (one just announced this week) and that portfolio keeps growing and, likely, the rigors of being a public company probably means their internal staffing/infrastructure needs to keep up pace with the growth. NWVP has been in that part of town for quite a while so this is likely an internally driven expansion move.

While most of their portfolio is stuff that they bought, they do have some pretty good experience with development. There is a property in Mississaga they did that won the NAIPOP REX (Real Estate Excellence) award as development of the year the year it was done and they have done good work in Calgary (did a large development on Glenmore trail and a total redevelopment at 8th and 8th on what was a totally run down medical building and they converted it to the downtown campus for the U of C).
 
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