Canadian Office Space Market

[Wooster]

In Calgary office employment is heavily focused downtown (I believe something like 80% of office in the Calgary region is in downtown/beltline) but there are big employment areas like the gigantic swaths of industrial land on the east side, the airport and the univiersities outside the core. But, if there's office investment, good chance it's downtown.

[Doug]

In addition to the three buildings already u/c in Quarry Park, expect at least three more break ground next year. At completion, Quarry Park will have around 4M sq ft of high end office space.

[caltrane74]

Oh Calgary! - you don't get all the fun

• HOOPP to build $300,000,000 complex at the connection between the new Eglinton LRT and the new Mississauga BRT
• Just south of Pearson International Airport
• Complex will be 1.1 million square feet
• First "Office Tower" begins next month
• 70,000 square feet of restaurant space
• Complex will be right next to caltrane's office


Read the article here
http://m.theglobeandmail.com/globe-i...service=mobile

[Wooster]

Originally Posted by Doug

In addition to the three buildings already u/c in Quarry Park, expect at least three more break ground next year. At completion, Quarry Park will have around 4M sq ft of high end office space.

I was inside one of those offices - headquarters for Cardel. Gorgeous office.

[Jimby]

Originally Posted by caltrane74

Oh Calgary! - you don't get all the fun

• HOOPP to build $300,000,000 complex at the connection between the new Eglinton LRT and the new Mississauga BRT
• Just south of Pearson International Airport
• Complex will be 1.1 million square feet
• First "Office Tower" begins next month
• 70,000 square feet of restaurant space
• Complex will be right next to caltrane's office


Read the article here
http://m.theglobeandmail.com/globe-i...service=mobile

so, you'll be HOOPPed then?

[caltrane74]

Yes, I'm excited. Right now the area south of the Airport is a giant grassland surrounded by looping highways, and inter-dispersed office parks.

This could create a real centre for us office park workers to congregate and chill before, during and after work.

[yaletown_fella]

Sounds cool. I wonder if they'll possibly be a little monorail (just like the one at Pearson) constructed to link the office parks to the hub? That would be awesome but unlikely considering 90% of workers commute to work by car.

[caltrane74]

The LRT is supposed to reach the airport when it has been completed.

[rbt]

Originally Posted by caltrane74

• 33 acre parcel of land (1.4 million sqft)
• Complex will be 1.1 million square feet

So, the coverage is a little under 1 storey then?

It sounded a lot better before I read the article. This is going to be a huge swath of 3 storey office surrounded by surface parking.

I think Calgary does get to have all of the fun

[caltrane74]

Well the complex is going to be built on the yet unbuilt transit hub - "Renforth Station"
Yes of course there will be tonnes of surface parking, but maybe not what we've become accustomed to in the past.

[Doug]

Originally Posted by Wooster

I was inside one of those offices - headquarters for Cardel. Gorgeous office.

I've been into several of the existing buildings and they are all extremely well done. Not bad for a former gravel pit next to a garbage dump and trailer park.

[taal]

Your definition of cool is a lot different then mine ... 1 million square feet of office space ... thousands of jobs, in an area will, at least today, relativly terrible transit. While NYCC / Y&E see 0 new office growth. I'm not mentioning downtown because I'm sure you'll cite the office towers beging constructed.

[Vercingetorix]

Originally Posted by Doug

I've been into several of the existing buildings and they are all extremely well done. Not bad for a former gravel pit next to a garbage dump and trailer park.

Agreed. They are the nicest suburban office buildings I've been in. Interesting to see how that whole Quarry Park development shakes out when finished, especially after the LRT goes through there.

Merry Christmas all!

[Doug]

Yeah. Too bad some of the land closest to the LRT is being developed as warehouses. I guess the proximity to the landfill would preclude residential and the amount of office space already planned is huge.

[caltrane74]

Originally Posted by taal

Your definition of cool is a lot different then mine ... 1 million square feet of office space ... thousands of jobs, in an area will, at least today, relativly terrible transit. While NYCC / Y&E see 0 new office growth. I'm not mentioning downtown because I'm sure you'll cite the office towers beging constructed.

Yes but transit will be much better 10 years from now, with the completed Mississauga BRT/Eglinton LRT (phase 2) in the works, and rail link. There is an office complex being constructed in North York Centre now, it's mixed use yes, but that still counts: Hullmark Centre.

There are also plans for a massive expansion of the Office Complex Yonge-Eglinton Centre, with 14 additional floors being added to the existing office towers at the site.

I hate bringing up Tokyo, cuz everyone rides me for it, but it's true, Toronto will have multiple financial cores, multiple commercial cores, multiple business centres. Don't get mad if I am right. Yorkville was the first, then came Yonge and Eglinton, then Consumers Rd, North York Centre, SCC, Airport Corporate Centre, and then MCC.

[The Chemist]

Originally Posted by caltrane74

I hate bringing up Tokyo, cuz everyone rides me for it, but it's true, Toronto will have multiple financial cores, multiple commercial cores, multiple business centres. Don't get mad if I am right. Yorkville was the first, then came Yonge and Eglinton, then Consumers Rd, North York Centre, SCC, Airport Corporate Centre, and then MCC.

They ride you because it's not as big a deal as you're making it out to be. Many (if not most) large cities are multi-nodal, not just Tokyo. The comparison between Toronto and Tokyo is silly, and you know it - Toronto will never be anywhere near as large as Tokyo.

If you insist on making a comparison, use London - it's multi-nodal as well, and much closer in size to Toronto than Tokyo is.

[caltrane74]

I use Tokyo because it is the largest, and therefore most well known "multi-nodal" city. For the sake of clarity at least, you can't get any clearer than this. Not "silly" when I'm countering the dismay shown by fellow Torontoians, regarding the fact that this is how Toronto is growing. They lament when they see Calgary, with it's single Business Core, all I am doing is encouraging a look at the Big Picture to the success of growing organically, rather then centrally. The point which I am making has nothing to do with the size of the cities in question, and everything to do with the fluidity of how they "have" and "are" developing.

Infact, when you think about it, this type of "multi-nodal" development is laying the groundwork for future large scale growth centred on these hubs. Vaughan and Markham come to mind, as all the office space can't be downtown, the stress on our transit probably can't be absorbed. However office development in these new live work areas outside of the 416 should be encouraged, and not discouraged. Mississuaga, Markham, Vaughan, Brampton, Pickering, are all planning the largest master planned downtowns in Canadian History. Let's see what happens.

[WhipperSnapper]

miketoronto is really the one and only who envisions a huge commercail core surrounded by bedroom communities with Jetson-esque transportation. The rest of us simply lament the auto centric nature of these developments. Live/work? Where?

I realize you were born yesterday (although technically you are older than me) however, Vaughan latest vision of a city centre is a major step down from the last boom which was centred around a 90 storey supertall. We all know the end result too; endless seas of parking surrounding big box.

Most predict a levelling of the global population as the developing world continues to mature. This will greatly affect Toronto's long term population growth. The GTA topping 10 million persons will take a lot longer than you think.

[caltrane74]

Ba humbug to you too guy!

Vaughan and Markham are designing their downtowns so you can live within walking distance of your office. It's not perfect, but at least a start.

[WhipperSnapper]

"Starts" that has been around for a couple decades. Everyone aside from Mississauga and Markham (where reality is quite different from paper) will likely miss the boat again.