Toronto The Well | 174.03m | 46s | RioCan | Hariri Pontarini

Can't wait to see this project fully built out, but it's been rather quiet lately - no sales buzz?
 
No residential marketing on it yet!

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From the bisnow article:

"
Allied, which Tim says is TO's third-largest landholder after the City of Toronto and University of Toronto, essentially created the King West office node. Led by Michael Emory, the firm turned the post-industrial neighbourhood into a brick-and-beam mecca, shifting market momentum westward while altering the city's office-space perceptions. Unlike South Core, a submarket Robert notes had to be “constantly defended” as it was emerging, The Well’s location already sells itself. Says Tim: “This represents the evolution of the neighbourhood we basically built."

Read more at: https://www.bisnow.com/toronto/news...to-re?utm_source=CopyShare&utm_medium=Browser
"

hmmmm, right so a location with direct access to Union and the path needs to define itself vs a location where there is no path and you need to walk some distance to the subway.

Not that I'm saying they won't manage to lease (500 King is a perfect example, though I'm sure they'll need to offer lower rates) but that whole paragraph smells of marketing and hype.
 
Poof...just like that, my optimism for this project has evaporated.

Any reason to expect some unexpected quality from Tridel on this one?
 
This is terrible news indeed. Those HPA towers were beautiful, and the integrity of the design depends on HPA being involved in every part of the process. I don't see them bowing to the inevitable spandrelification that Tridel will demand.

I found a bit more info in the press release: http://www.marketwired.com/press-re...well-tridel-woodbourne-tsx-rei.un-2145213.htm

The current buildings on the Site are occupied by tenants expected to vacate on or before the end of 2016. The Well JV is working toward pre-leasing a significant portion of the office component of The Well and is optimistic that a lead tenant will be secured in the near term. The Well JV intends to initiate the development in early 2017, which will involve excavation of the Site and construction of the entire underground parking and loading structure. Tridel and Woodbourne will participate in this and other phases of the construction and pay for their share of the underground parking spaces required for the residential component of The Well in accordance with an agreed formula. With the addition of the residential partners, the intention is to complete the entire development during one continuous construction period rather than a phased in approach.

The sale is scheduled to close upon requisite land severances being granted and upon completion of the underground parking structure and building podiums. This is estimated to occur in early 2020.
Click to expand...
 
Adamson are Arch's of Record. No design input, just production. Fun fact, they're also in the McGregor Sock Company Building at the corner of Wellington and Spadina.
 
Just read the news on the globe and mail and had to come out of my slumber... wow talk about gutted... The Well was part of a handful of projects that I'm really looking forward to. With Tridel in the mix, I'm not so sure anymore.
 
ProjectEnd said:
Adamson are Arch's of Record. No design input, just production. Fun fact, they're also in the McGregor Sock Company Building at the corner of Wellington and Spadina.
Click to expand...

Adamson does have a history of working with Hi-Techish projects (Telus, St. Lawrence North, the Shard, etc) - so using them for the HP office portion isn't a bad thing at all.

AoD
 
ProjectEnd said:
Adamson are Arch's of Record. No design input, just production. Fun fact, they're also in the McGregor Sock Company Building at the corner of Wellington and Spadina.
Click to expand...

It's a great looking office interior as well - along with Stantec's
 
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