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  #9041  
Old Posted Feb 12, 2018, 8:46 PM
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I'm hoping that it doesn't end up looking like a square L-Tower. That would be quite the mess.
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  #9042  
Old Posted Feb 15, 2018, 12:51 PM
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Rumours of something happening at 30 Bay St. Toronto, which will apparently be marketed as The Hub... from UT..

http://thehub30bay.com/
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  #9043  
Old Posted Feb 15, 2018, 1:34 PM
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Someone also posting it'll be in the 60-something storey range
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  #9044  
Old Posted Feb 15, 2018, 1:46 PM
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Rumours of something happening at 30 Bay St. Toronto, which will apparently be marketed as The Hub... from UT..

http://thehub30bay.com/
Based on what I heard a month ago and the name "The Hub", I imagine this is their next step in trying to bring tech/creative companies into the core. Ever since they started their incubator at 325 Front, I've been speculating that this is their long-term play. I think they envision an ideal scenario where a tech startup grows in their incubator and when it matures to the point where it requires its own more substantial space, they'll have several options in their downtown portfolio lined up ready to sign them long-term.

In theory it seems like a good strategy. Downtown West between Bathurst and University has been the traditional market for startups that want creative space in an old brick and beam building. Although that market is so ridiculously tight that the best option for a company that requires more than one floor of space is to have a new development built for them (ie. Shopify at King-Portland centre). The other option is to move Downtown or Midtown where you're growing employee base has far better access to transit. Amazon's already done it at Scotia Plaza. I wouldn't be surprised if companies in that transition phase are the main target for 30 Bay.
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  #9045  
Old Posted Feb 15, 2018, 4:18 PM
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Very interesting, apparently its a really nice looking building over 60 stories tall. Given that it's an office tower that would be over 800ft in height. With the website launched, and Oxford already having a detailed rendering I would expect to hear more details in the coming weeks. Extremely exciting, I mean we already have CIBC Square u/c which is huge in itself, but with CC3 and now 30 Bay popping up, we have some serious big office towers proposed.
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  #9046  
Old Posted Feb 15, 2018, 4:44 PM
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This is quite a shift in direction. I like it. I hope it works out for them. Developers trying new things despite the higher risk is always good. Of course, that's being under the impression they won't have the usual pre-leasing arrangement. I don't think they can do what it appears they are doing with them for a building of this scale and the targeted sector.
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  #9047  
Old Posted Feb 15, 2018, 4:46 PM
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Very interesting, apparently its a really nice looking building over 60 stories tall. Given that it's an office tower that would be over 800ft in height. With the website launched, and Oxford already having a detailed rendering I would expect to hear more details in the coming weeks. Extremely exciting, I mean we already have CIBC Square u/c which is huge in itself, but with CC3 and now 30 Bay popping up, we have some serious big office towers proposed.
I hope there's an ekoseletion. It seems appropriate. Note how the logo emphasizes colours.
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  #9048  
Old Posted Feb 15, 2018, 6:04 PM
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This is quite a shift in direction. I like it. I hope it works out for them. Developers trying new things despite the higher risk is always good. Of course, that's being under the impression they won't have the usual pre-leasing arrangement. I don't think they can do what it appears they are doing with them for a building of this scale and the targeted sector.
Ya so I was at an Oxford event at 100 Adelaide a couple weeks ago when they were talking about this. They have a pretty cool vision which includes this multi-storey open air atrium at the top of the building. A sky garden type thing. To achieve this though, they would need a 100,000 SF+ anchor tenant that would end up paying $100 PSF on their actual useable space to subsidise it. I guess since it's not a public space they can't just spread it out across all the tenants and gross up their rent accordingly.

I think their ideal scenario would be to land that anchor tenant that lets them move forward with all the bells and whistles, and then fill up the rest of the space with mid-size tenants. they'll probably promote some sort of cross-company collaborative culture like Waterfront Innovation Centre.
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  #9049  
Old Posted Feb 15, 2018, 6:09 PM
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Also heard today that the tenant that was rumoured to be looking at 160 front (it was Canadian Tire), has backed off.

Sounds like they're going to knock down one part of the complex at Canada Square and redevelop a new headquarters.
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  #9050  
Old Posted Feb 15, 2018, 6:24 PM
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Ya so I was at an Oxford event at 100 Adelaide a couple weeks ago when they were talking about this. They have a pretty cool vision which includes this multi-storey open air atrium at the top of the building. A sky garden type thing. To achieve this though, they would need a 100,000 SF+ anchor tenant that would end up paying $100 PSF on their actual useable space to subsidise it. I guess since it's not a public space they can't just spread it out across all the tenants and gross up their rent accordingly.

I think their ideal scenario would be to land that anchor tenant that lets them move forward with all the bells and whistles, and then fill up the rest of the space with mid-size tenants. they'll probably promote some sort of cross-company collaborative culture like Waterfront Innovation Centre.
cool stuff. Many thanks. $100 you say? Could be a great deal in five years if thing continue along the current trajectory. Right now, I don't see anyone "typical" spending close to that amount for space and a skygarden at Bay and Harbour. Fortunately, They aren't going for those types. Again. I really wish them the best for doing something a little different.
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  #9051  
Old Posted Feb 15, 2018, 6:27 PM
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Also heard today that the tenant that was rumoured to be looking at 160 front (it was Canadian Tire), has backed off.

Sounds like they're going to knock down one part of the complex at Canada Square and redevelop a new headquarters.
I can't really say it's a loss knowing now that it was indeed Canadian Tire.
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  #9052  
Old Posted Feb 15, 2018, 6:33 PM
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Originally Posted by WhipperSnapper View Post
This is quite a shift in direction. I like it. I hope it works out for them. Developers trying new things despite the higher risk is always good. Of course, that's being under the impression they won't have the usual pre-leasing arrangement. I don't think they can do what it appears they are doing with them for a building of this scale and the targeted sector.
Oxford is pretty good at making things work, the MNP tower in Vancouver was a bit of a gamble and I don't think it looked good on paper but it turned out very well.

Interestingly Oxford has launched another round of divestments, following their mandate to divest of older, lower quality stock and build high quality. City Centre/ TD tower/ Oxford tower in Edmonton are for sale as are several older Calgary properties.
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  #9053  
Old Posted Feb 15, 2018, 7:30 PM
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I think Oxford is one of the best real estate companies in the world. They have this knack of just never losing. Everything they touch eventually turns to gold. Like the an old school 80's Wall Street archetype but with a great vision for the future and ability to adapt to changes.
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  #9054  
Old Posted Feb 15, 2018, 7:37 PM
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Originally Posted by DrNest View Post
I'm hoping that it doesn't end up looking like a square L-Tower. That would be quite the mess.
Speaking of L-Tower - is the crane down yet ?
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  #9055  
Old Posted Feb 15, 2018, 8:04 PM
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I think Oxford is one of the best real estate companies in the world. They have this knack of just never losing. Everything they touch eventually turns to gold. Like the an old school 80's Wall Street archetype but with a great vision for the future and ability to adapt to changes.
They are good at picking winners and investing where it counts. I've had the pleasure of spending time with the senior management, those guys know what they're doing, that's for sure
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  #9056  
Old Posted Feb 15, 2018, 8:32 PM
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Speaking of L-Tower - is the crane down yet ?
Last time I looked nope. It's still up there.
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  #9057  
Old Posted Feb 15, 2018, 9:08 PM
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It's an issue with how it was constructed. I'm not an engineer, but I heard something went wrong along the way to the point where the crane pretty much became a structurally integral part of the building. Or at least it was surrounded by enough structurally important pieces that taking it down was considered too risky. Quite the oversight, especially since Eric Sprott bought the unit for what? $15 million +? and then sued for damages due to the eyesore attached to his unit.
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  #9058  
Old Posted Feb 15, 2018, 9:26 PM
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It's an issue with how it was constructed. I'm not an engineer, but I heard something went wrong along the way to the point where the crane pretty much became a structurally integral part of the building. Or at least it was surrounded by enough structurally important pieces that taking it down was considered too risky. Quite the oversight, especially since Eric Sprott bought the unit for what? $15 million +? and then sued for damages due to the eyesore attached to his unit.
What a fuck up.

I actually really like the L tower but the fact that the crane is still up there has become a laughing stock among Torontonians. Some of my friends, of which don't give a shit about urban development and skyscrapers, still laugh at how long that crane has been up there.
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  #9059  
Old Posted Feb 15, 2018, 10:03 PM
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The tower crane at L Tower was removed a long time ago, there is a small derrick that remains.
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  #9060  
Old Posted Feb 15, 2018, 10:13 PM
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I find this over on an L Tower condo owners blog. Hope it helps.

The derrick was installed to take pieces of the big crane down 2+ years ago, lift up the building maintenance unit (BMU) and then be disassembed and come down the elevator in pieces.

After installation the old derrick was found to violate code and be dangerous so they replaced it with this second derrick.

But...two years after the promised BMU delivery, there has been no delivery. Consequently no windows washed. So they are still waiting for the BMU. That's my understanding. Pleased to be corrected.
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