TORONTO | 45 Bay Street - SITQ | 245 M / 804 FT | 47 FLOORS
Caisse to build office tower in downtown Toronto
Bloomberg Saturday, September 15, 2007 – Page B8 Caisse de dépôt et placement du Québec, Canada's biggest pension-fund manager, will build a 40- to 50-storey office tower in downtown Toronto to expand its real estate holdings in Canada's largest city. SITQ, the Caisse's office building unit, bought the land at 45 Bay St. in May, spokeswoman Amelie Plante said yesterday. She declined to say when the tower might be built or how much the project would cost. The proposed building, located across the street from the Air Canada Centre, would house about 1.2 million square feet of office space and fill a void in the Caisse's real estate portfolio. Only one of SITQ's four Toronto-area buildings is in the city's downtown core. Old Rendering http://i47.photobucket.com/albums/f1...mmerTO/45b.jpg New Rendering http://i12.photobucket.com/albums/a2...3333/45bay.jpg Quote:
And more information in French Quote:
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interesting.
I hope we get something dramatically better than that early render ^^^^ it's got to look good on the skyline, and yet, possibly be a new landmark for the eye! :D this one seems more like a proposal/vision than anything.... i hope i'm wrong though, |
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They own the land, and the approvals are in place. Don't think there would be much keeping this pension fund from moving forward with the tower whenever they liked. |
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47 floors in an 800' building, must have some pretty high ceilings.
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Don't forget it will have a bus terminal on the ground floors, just like the office tower in New York at the Port Authority.
:) | NEW YORK | 20 Times Square - Port Authority Bus Terminal Tower | 855 FT | 42 FLOORS |
You stole that "old rendering" from me. That was a picture I took myself in the office of the architect I know who designed it.
And contrary to what "Mike it TO" says, it was a proposal. I know some of the people who were involved in the proposal myself. |
That old rendering is much nicer than the new one (yuck). The old one is also clearly 1000 ft+, not 800.
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That old one isn't a real rendering, it's just an example of anything going at that site when it was first slated for a highrise.
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But then again, it doesn't appear any type of formal application has been submitted to the city for review / approval. ALSO, the site appears to be zoned to a maximum height of 161 metres. |
Oh geez. Don't be a party pooper.
If SITQ wants to build 40 to 50 storeys of office tower, with no NIMBYs and no NPS shadowing issues, do you really think the city or the OMB would turn them down? All that tax revenue from 1.2 million square feet of office space and the Bus Terminal for the City to boot. There is no way this building is less than 200 meters, IMO. Probably between 220 and 250 to be honest. |
Am I the only one who looked at the date on this proposal/vague idea ?
It says 2007 so why is it just being posted here now ? Further , if the idea popped up around 2007 isn't it safe to say that , for the time being at least , whatever is written about it other than a proper update is just somebody's best guess at what might happen on the site ? |
Toronto's vacancy rate (office) dropped by 15% last year. And we did that in a year when new office towers came online in the downtown core, which itself has a vacancy rate of just 6%.
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The old design is beautiful! Imagine the old rendering today with MSL/Telus. :slob:
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Well, Well, Well. |
just as i thought this one was dead... it turns out that it has a pulse after all.
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Well somewhat of a pulse, SITQ might just end up selling the lot if they can't build up properties in the Toronto Market in which they will be a small player.
Might be better for them to take the profit on the land and sell it to a company that will actually be able to build it faster than they can. |
:previous:I hope not. I want a quality building like the first render, not some shitty condo.
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Well the property is zoned commercial.. plus there has to be a bus terminal in the base floors of the building, so that effectively rules out any condo ever being built on this site.
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