Originally Posted by drew
I am pretty sure Hydro didn't want to include "commercial" as part of their project. I believe they were persuaded by the powers that be to include some retail on Portage Ave. to avoid a "dead spot" on the Avenue.
They also didn't build a company-only restaurant or gym facility in the tower because they want to maximise their employees economic benefit to the area.
The Y downtown is going to be a complete gongshow after everyone from Hydro moves downtown...
I believe there is also a new gym in the basement of the Powerhouse Building, nextstore to the new Hydro Tower site. It should also do well with the new workers in the area. If there is enough demand for more services in the area there will be entrepeneurs looking to capitalize. Free Market expansion is good.
As far as the Royal Bank building .. it was part of the condition of the Royal Bank giving up there old branch location on Portage. They will have a new branch location in the retail section of the new tower. I fully expect that adding 2000 government workers in direct daily contact to the branch will be very good for business. Also look for Starbucks to move across the street when the new tower opens as well. The bums in Portage Place don't make a very good environment for yuppies sipping lattes.... but a tower full of suburbanites is a whole different story.
I also expect to see improvements to Portage Place retail as a result of the new workers in the area. Come to think of it there is currently no banking within Portage Place.
Things that make you go Hmmmmmmmm...