3Dementia
Senior Member
sping is not far off... and it's a lovely January day to boot.
Toronto Four Seasons Hotel and Private Residences Toronto | 203.9m | 52s | Lifetime | a—A
ProjectEnd
Superstar
Anyone know how many floors down they are going for parking?
caltrane74
Senior Member
Guy, I meant spring. ( oh geez the mockin' I take on this forum for my spelling)
For real, I know I need to go back to kindergarten.
H
Hydrogen
Guest
Your enthusiasm more than makes up for the occasional spelling thing.
ganjavih
Senior Member
And your avatar.
Don't make fun of the way Caltrane looks! Not nice.
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DaninToronto
Active Member
The ladies always had a thing for the cookie monster (which might be his tag line).
vancouverguy_76
Active Member
I've thought about this development for a while... looking at the 'official plan' for Bloor/Yorkville, this building site was originally considered to be for shorter buildings. And we've got a 55s-r.
Now we've got a proposal to tear down the original Four Seasons at 21 Avenue Road for tall double towers. Seems like there's uber-demand for high-density luxury space in Yorkville (yes, I know, duh).
So I'm beginning to wonder... could a purchase, tear down, and rebuild of the two office towers on the east side of Bay St., between Cumberland and Yorkville Ave., be in the cards? As well, what about the very large parking garage in behind? And other little crappy buildings in the vicinity? Given the price per square foot that condominiums get in the area, landowners south of the Four Seasons site are sitting on potential gold mines.
And that includes Cumberland Terrace... may the gods of development see to it that the unsightly structure be FINALLY removed and re-developed!!! Please! I've been waiting years and years for this.
Now we've got a proposal to tear down the original Four Seasons at 21 Avenue Road for tall double towers. Seems like there's uber-demand for high-density luxury space in Yorkville (yes, I know, duh).
So I'm beginning to wonder... could a purchase, tear down, and rebuild of the two office towers on the east side of Bay St., between Cumberland and Yorkville Ave., be in the cards? As well, what about the very large parking garage in behind? And other little crappy buildings in the vicinity? Given the price per square foot that condominiums get in the area, landowners south of the Four Seasons site are sitting on potential gold mines.
And that includes Cumberland Terrace... may the gods of development see to it that the unsightly structure be FINALLY removed and re-developed!!! Please! I've been waiting years and years for this.
adma
Superstar
Why not? Same thing happened to their west-side counterparts, remember.
vancouverguy_76
Active Member
I wonder if the City would be up in arms about such a thing... here in Vancouver, the City must review any office conversion over 50,000 square feet, and will almost certainly say no to all conversion requests
Would Toronto planners be similarly paranoid about loosing precious office space for residential?
There are a number of butt-ugly office towers in Yorkville that offer amazing potential condo tower locations.
marcus_a_j
Senior Member
New provincial powers state that if an area is designated employment in the OP, then it is to remain employment. I don't see too many offices converting to residences.
AlvinofDiaspar
Moderator
I think there is at least one office to residential conversion in the area and another one is in the works.
Employment lands mostly refers to industrial lands - which the city does not want to rezone into residentail for various reasons.
Either way, conversion isn't necessarily a good thing since it'd be very difficult to change the land use from condos to anything else once it's said and done.
AoD
Employment lands mostly refers to industrial lands - which the city does not want to rezone into residentail for various reasons.
Either way, conversion isn't necessarily a good thing since it'd be very difficult to change the land use from condos to anything else once it's said and done.
AoD
Bentley
Active Member
Agreed. When I first heard the rumors of W hotels buying the old four seasons, I thought a better idea would be to buy cumberland terrace, do a complete tear down, and build a beautiful hotel condo. Ourdoor pool, all the amenities, a good lounge or bar. Could be the new Film Festival hotspot.
I think it's owned by oxford properties and I'm sure their exit strategy with that property is to redevelop it. If I had to wager a guess I'd say it is profitable as is so they'll likely hold into it until the next wave of development happens. With all the stuff going on in Yorkville these days they probably thought it's better to do it next time around when there is less competition, and increased demand. By then prices may be in the 2000-3000/sq ft range.
vancouverguy_76
Active Member
My understanding is that these Yorkville buildings have a 'mixed-use' zoning for their land. I was referring to the tearing down these buildings and building new towers...I would not generally suggest retrofitting an office tower to such a high-level of residential property (even though 28 St. Thomas/101 Bloor is doing just that LOL).
JasonParis
Moderator
I'm still pretty amazed that Cumberland Terrace looks to have missed the current boom of development in our city.