TD Canada Trust HQ touted for city core
Dave Hall, The Windsor Star
Tuesday, June 24, 2008
A local developer proposing to build a new downtown headquarters for TD Canada Trust said he believes bank officials are close to choosing between two prospective sites and will make an announcement within a week.
Lou Mikhail of Mikhail Developments said there are "actually three sites on the table but I believe ours and another across the street are the two logical choices from among the three.
"And I fully expect a decision in the near future," said Mikhail.
The Mikhail development would be built on the northeast corner of Ouellette Avenue and Pitt Street -- a parking lot where the former Smith's department store was located.
The other prospective site, on a parcel of land assembled by Petretta Construction, would include the former Royal Bank building on the southeast corner of Pitt and Ouellette, and possibly adjacent retail stores, as well as a building at 25 Pitt St. E., which houses Patrick O'Ryan's Pub.
"I believe our proposal makes more sense because there's no demolition required before construction could begin and we're also proposing both surface and underground parking as part of the development," said Mikhail.
Petretta declined comment Tuesday other than to say "we expect to find out some good news for downtown Windsor later this week."
A third location is rumoured to be a site occupied by the Palace theatre complex on Ouellette at University Avenue West. The new regional headquarters would replace the bank's outdated building at Ouellette and Wyandotte Street.
Despite the optimism shared by both Petretta and Mikhail, a TD Canada Trust spokesman said Tuesday that no announcement is planned in the near future about a new downtown Windsor bank headquarters, despite persistent rumours that such an announcement is imminent.
"I really have nothing to add to what I said months ago when this issue was first raised," said Nick Petter, a corporate communications officer for the bank.
"We are constantly evaluating our real estate needs," said Petter. "I'm not aware of any imminent announcements. Those must be someone else's words."
Chris Ryan, who owns Patrick O'Ryan's, also said he's unaware of any pending announcement.
"I've not heard anything for months," said Ryan who still has five years left on his lease. "And it's getting more disturbing and disruptive than positive for us right now.
"We've built a steady clientele over the years and anything that would cause us to move would create a headache, especially if it's at short notice," said Ryan.
Sounds like TD is for real. I wonder roughly how big there gonna go with the new HQ. I didn't quite understand the Petretta proposal, Royal bank and TD side by side or what?