dt_toronto_geek
Superstar
I cycled by today and saw that several of the columns have forms on them and cement trucks were on site. Things are really happening here now!
In 2007 MaRS began Phase 2, a 20-storey, 750,000 square-foot glass box. But transforming “Ideas to Reality” proved more difficult than just painting the slogan on a stretch of plywood. Pasadena, California-based Alexandria Real Estate Equities Inc., MaRS’s development partner, halted the project in the fall of 2008, citing liquidity issues. Tenants also proved scarce; Randal Froebelius, vice-president of real estate for MaRS, told the Post: “We don’t want to build an empty building.”
This July workers returned to the job site after Ontario expanded the loan program of Infrastructure Ontario, a provincial Crown agency, to include MaRS. The agency is lending MaRS $230-million to build the tower.
“The current MaRS Centre is at full occupancy, and cannot meet the increasing demand for space,” MaRS said in a news release. The Ontario Institute for Cancer Research and Public Health Ontario have both signed on as tenants at the new tower, which MaRS plans to open in 2013.
Finally, nice to see it going up.....by the way, is this strictly institutional or is there going to be ground level retail.