London Development Rumour Thread

[Djeffery]

Originally Posted by UpstairsCranberry

Any thoughts on 50 King St?

Should Heritage people be worried about the Courthouse and jail?

The corner of King and Ridout will be a tower of some sort, I'm sure.

I trust York more than I do Farhi. I think York will make use of the building or gift it to the city as part of an approval's process in exchange for a healthy tax receipt like TD did with Wellington and Dundas. I'm sure what gets built around it won't make some people happy, saying it won't fit with the courthouse character or something like that, but I don't think there is any chance it's going to sit there and rot until it falls down so they can build a tower there or anything like that.

[greenday99]

Does anyone know is york developments is going to build that building at the corner of wonderland rd and Springbank dr.? It says a building is coming soon to that location on york's website but they are not doing anything to prep for it.

[greenday99]

are the millennium building's getting built? the parking lot where they were supposed to go is still being used. A year ago city council approved the development, but I don't see the tarmac getting ripped up for the buildings. Does anybody know whats going on with that development?

[Djeffery]

Originally Posted by greenday99

are the millennium building's getting built? the parking lot where they were supposed to go is still being used. A year ago city council approved the development, but I don't see the tarmac getting ripped up for the buildings. Does anybody know whats going on with that development?

can you refresh our memories where that project is?

[greenday99]

Originally Posted by Djeffery

can you refresh our memories where that project is?

It was or is supposed to be built at the corner of king and clarence, northwest corner. want to build a four-storey office building in-between a couple of buildings on Dundas beside the parking lot.

[Djeffery]

Originally Posted by greenday99

It was or is supposed to be built at the corner of king and clarence, northwest corner. want to build a four-storey office building in-between a couple of buildings on Dundas beside the parking lot.

Last I heard, they were going to build something like a 25s back in the middle of the property with the empty alley fronting on and integrating with Dundas Place rather than building that 4s building in that space. There is a 195 Dundas thread in this forum, last post in March. Haven't heard anything new since then, although a prior post from the summer of 2018 had an LFP link that said construction could start in 18 months, which would be soon.

[greenday99]

In the database, it says that the buildings are 32s and 35s proposed and a 19s tower. It would be a nice addition to downtown. I hope Ayerswood does actually build it.

[greenday99]

195 Dundas is the same development. 18 months from July 2018 means the excavation should be starting soon.

[Djeffery]

Originally Posted by greenday99

195 Dundas is the same development. 18 months from July 2018 means the excavation should be starting soon.

I know, I was just pointing you back to that thread in case you hadn't seen it. Info posted there suggests the 19 is now going to be 25.

[jammer139]

Correct Ayerswood said the first phase was going to be 25s off Dundas. The parking lot would be construction staging site until first phase was built. Then they would build the 35s and 32s towers on top of multi level underground parking. With Dundas St now complete I would hope they start the 25s early 2020. We should soon seen if they are serious.

[haljackey]

One London Place under construction



Via

https://www.facebook.com/photo.php?f...type=3&theater

With Covid lessening the need for office space, will we ever see phase 2 built?

[MolsonExport]

I highly doubt it. Especially with the plethora of empty Fahri-owned buildings all over downtown.

[Innsertnamehere]

Downtown had an 18% vacancy rate pre-covid. No new office construction is coming anytime soon in the core until that is closer to 3-5%.

[haljackey]

Originally Posted by Innsertnamehere

Downtown had an 18% vacancy rate pre-covid. No new office construction is coming anytime soon in the core until that is closer to 3-5%.

That's absurdly skewed. Farhi, the landlord that owns most of the downtown office space has very high vaccancy rates because no one wants to deal with him. A few of his buildings are completely empty.

Buildings like One London Place, which is owned by Sifton, were nearly full before Covid started.

No one wants to deal with Farhi unless they have to.

[Djeffery]

What was the last new office building downtown? OLP or maybe 130 Dufferin? Either way, early 90's. Kind of sad we haven't had a new office building downtown in almost 30 years. I think the twin to 130 Dufferin was actually built as an apartment building (520 Talbot I think it is). A friend used to live in there and the layout was pretty neat, with the support columns being in the middle of the unit.

There are some real dumps downtown for offices, but I imagine the businesses located in them aren't interested in paying for a higher grade space. Plus when you look at how much space was absorbed by the former Galleria as well as some offices that have moved to smaller buildings scattered around the rest of the city, I can't imagine what it would take to get someone to build a new building. Especially one to get excited about.

[ssiguy]

We have to remember that "office space" is not some kind of monolithic concept. There maybe a real shortage of Class A but an oversupply of Class C. That said, I don't think we will see any new office towers in the Core for a very long time. Any hope of that has been brought to a complete stop by COVID. Outside of our biggest centres, the age of huge office developments is over.

What I think what you will see, especially in mid-size cities like London, is more small leasing spaces such as the bases of condo developments downtown, the renovation of older commercial buildings and housing into small offices, and the upgrades of lower class buildings into higher class ones.

[MolsonExport]

all our head offices were bought out and replaced with back offices. Name a major London-HQuartered co. Ellis Don?

[Djeffery]

Originally Posted by MolsonExport

all our head offices were bought out and replaced with back offices. Name a major London-HQuartered co. Ellis Don?

And they aren't even downtown lol. And even if they were, they wouldn't take up more than a floor in Talbot or City Centre.

[jammer139]

New office buildings. Not likely in any foreseeable future given the 20% vacancy rates in London prior to Covid19. The pandemic has literally changed the thinking of businesses and public sector employers on office space. Work from Home was growing prior to Covid19 and now will be the new standard for many more employers. The worldwide demand for office space has likely peaked for a generation and may never return to recent levels. Same is true for retail sector. The growth area will be warehousing and distribution square footage and the demand for that will see major spike now. Expect major crash in the restaurant/food sector for those that served the downtown urban worker coffee/lunch/post work drinks/dinner market. Many of those will be gone. Expectations are many of the businesses lining the PATH tunnel network in Toronto will be gone and not coming back.

[K85]

again, that 18/20% people are throwing about are directly related to farhi and his shit.

I could honestly bet a $1000 that if you took out him/his company as owners, things would be a LOT different for vacancy rates and people / companies willing to move into those buildings. He is a sack of shit as a landlord (As I've heard from people), and a liar for developing properties he owns (Old Central Library anyone? Wasn't there one on Queens which people wanted to leave as a historical home, which he tore down to build a tower and remains a parking lot too?)

He is a plight on whatever city he touches.