Towered
Superstar
Zero to none.
Toronto East Harbour | 214.2m | 65s | Cadillac Fairview | Adamson
- Thread starter taal
- Start date
Northern Light
Superstar
Great moment, while the Ford gov't is busy rolling back MZOs to repeal the one for East Harbour that allowed residential in the first place.
I would love to see the look on Sal's face (CEO); LOL
wopchop
Building Toronto
Commercial market is absolutely dead right now.
Any build-out here is years away.
Any build-out here is years away.
CanadianNational
Senior Member
At this point, I hope so.
The zoning is so monotonous, the towers so bluntly crowded in without graciousness, the station looking so dully unspectacular...
I hope most, if not all of this project goes back to the drawing board.
The Preservationist
Active Member
I honestly don't see the need for any of this until mid century. There are several places for large office towers in the downtown core, which in my opinion probably won't be realized until the 2030s. The whole project seems to be a bit contrived...
Lenser
Senior Member
I don't see it that way. It's a huge parcel of land adjacent to downtown - a pretty massive opportunity for the city to reinvent and reinvigorate its central east side. It's a zone ripe for redevelopment and it's close to the Portlands, the re-naturalized mouth of the Don, planned transit infrastructure, downtown itself, etc. That said, it needs to be a mix of office and residential if it's going to work.
wopchop
Building Toronto
CF ain't gonna build hundreds of thousands of SF of commercial office space on spec in this market. It won't happen. Not with a 15% vacancy rate and with downtown office projects being constructed now with no or limited leases signed (i.e. Portland Commons ,T3 Bayside). It will take many years for this vacancy rate to recover and many years beyond that before any projects here are realized.
From the contractor side, East Harbour was pretty active on the pricing/estimating side until this past year. With the way the market has turned, it seems this isn't a CF priority at the moment.
rdaner
Senior Member
This was always meant to be a mixed use project so residential, retail and secondary school uses will go ahead.
Lenser
Senior Member
I'm just saying the potential is there in that huge block of land. I recognize that the market has turned. The great building boom is drawing to a close and we're going to have to settle for more modest news at a more modest pace.
The Preservationist
Active Member
My concern is this gets watered down and rezoned to a city place 2 full of short term high end rentals with the aid of massive publicly funded investment. I recognize this site has massive potential, but there has to be a suitable need that can be realized.
maestro
Senior Member
The dense cluster of office towers tells me Cadillac Fairview paid too much to build a Cityplace of CMHC mortgage backed rentals.. It's not free money. It's just cheap debt. Perhaps commercial podiums set up for the boom in Life Sciences with rental skyscraper above? I'm less worried over this form of development spreading across South Riverdale with the collapse of the office market.
rdaner
Senior Member
I can see CF courting a university to put an entire campuses worth of facilities in several podiums. University of Guelph is still floating around and they could even get more than one and maybe a foreign school; University of London might be a good fit! 
JasonParis
Moderator
There have also been some rumours of MTCC potentially making a move to East Harbour, but that seems a stretch.
rdaner
Senior Member
Probably. But it would solve a huge problem for Oxford and what to do with all that real estate on Front!
innsertnamehere
Superstar
there have been rumours of the convention centre looking to expand for a while. Not sure how it would work at East Harbour, but that could be an interesting result.