Toronto Richmond Adelaide Centre: EY Tower | 188.05m | 40s | Oxford Properties | Kohn Pedersen Fox

Rumours surface of new giant skyscraper in Toronto

Oxford Properties Group hasn’t even filled up the tower it’s already building in Toronto’s downtown core but talk is turning to whether the real estate company is planning another giant skyscraper.

The Financial Post has learned that the Toronto-based company gave termination notices this month to tenants at 100 Adelaide West in the financial core — a decision that gives Oxford flexibility if it decides it wants to move ahead with the building.

The proposed 900,000 square foot building has been on and off again since 1998. But with vacancy rates in the 5% range, and the downtown core now teaming with residential towers and workers who have no interest in the suburbs, industry speculation is rife that Oxford is about to pull the trigger.

“Nothing is imminent,” said Blake Hutcheson, chief executive of Oxford, which is a subsidiary of the Ontario Municipal Employee Retirement System. “The short answer is I would love to build it but I don’t know when we will.”

Oxford probably wants to nail down a lead tenant before it goes ahead, although sources indicate OMERS could take about to 150,000 square feet of space in the new building if another firm signs on.

Any move to begin construction, which would take three to four years to complete, would come with Oxford’s RBC WaterPark Place — a 930,000 square foot office development close to the waterfront — only about two-thirds leased.

The risk of not building and providing new space for tenants is that they jump ship to a rival. Brookfield Office Properties has already announced plans to build a second tower at the Bay Adelaide Centre and said professionals services firm Deloitte has signed on to take 43% of the 44-storey 980,000 square foot tower which is set to hit the market in late 2015 or early 2016.

More...........http://business.financialpost.com/2012/07/18/rumours-surface-of-new-giant-skyscraper-in-toronto/
 
I think the key sentence in the article might be:

The Financial Post has learned that the Toronto-based company gave termination notices this month to tenants at 100 Adelaide West in the financial core
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According to LeftCoaster, a very reliable source at SkyscraperPage, the rumour is that Oxford has secured a tenant large enough to proceed with a smaller version of this tower, but are actively seeking another large tenant, which would allow them to proceed with a larger (and presumably taller) version of this tower. Unfortunately he also mentioned that the office market has apparently slowed down recently, so it's no guarantee that they will find another large tenant.
 
I wonder how much taller they can go, considering NPS is to the north. i wonder what the maximum roof height that can be achieved on this site is,

and ya, this may be taller, but it won't change the fact that this building is MASSIVELY WIDE on it's sides. it literally blocks out the view of Shangri-la and Bay Adelaide depending on where you're standing. one fat skyscraper. (and razor thin on it's other sides)
 
I know that this design incorporates the Concourse building (the current 100 Adelaide), but will it effect the Victory building to the north on Richmond? Or does the property line even go that far north?
 
someMidTowner said:
I know that this design incorporates the Concourse building (the current 100 Adelaide), but will it effect the Victory building to the north on Richmond? Or does the property line even go that far north?
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???? Not sure why you think the Victory building would be affected. The Victory building is at 80 Richmond St. W. -- on the north side of Richmond just west of Bay St. This project -as you indicated - is at 100 Adelaide at Sheppard St. ?????
 
Necessary Evil said:
???? Not sure why you think the Victory building would be affected. The Victory building is at 80 Richmond St. W. -- on the north side of Richmond just west of Bay St. This project -as you indicated - is at 100 Adelaide at Sheppard St. ?????
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Sorry, wasn't sure about the name. I meant 85 Richmond. When i look at google streetview for some reason 85 Richmond is labelled victory building
 
I'm hearing tenants are starting to be moved out. Leases (all one year) are not being renewed. Looks like they are getting ready to move on this project.
 
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