Quote:
Originally Posted by LeftCoaster
Thanks for updating the list Ramko, I didnt know the first page was being updated, it was nice to take a gaze through the proposals. A few questions though:
- I thought front st data centre was oficially dead? is that not confirmed or am I thinking of a different project.
- I heard 45 Bay is not going ahead at any time in the near future, this may change but that's my understanding of the project's current status. I hope I'm wrong.
- There is a rumour going around that Ritz Vancouver will be the tallest in the city, putting it at 196m +, which came from a TV intereview with a member of Vancouver city council. That said the council member is a known idiot and may have simply been confused.
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The Front Street Data Centre is essentially on hold and will probably undergo a re-launch/re-design before being built. The latest news was that Allied REIT purchased the site last year. Here's the report:
http://www.alliedpropertiesreit.ca/documents/APREIT_2009_09_14_Press_Release_Acquisition.pdf
They seem in no rush to develop it: "The property includes surplus land on which 750,000 square feet can be developed for specialized and general office use and for ancillary retail use. The land has been rezoned to permit this development. Allied does not intend to pursue this opportunity in the near-term, but believes that it will augment the significant value-creation opportunities present in its Toronto portfolio." For this reason, I've listed it as a stale proposal.
Did you hear the 45 Bay Street rumour from an inside source? Given the current state of the market for office space, it's likely true that 45 Bay Street won't get built anytime soon, but the same can also be said of both Bay-Adelaide East and 880 Bay Street. I've seen nothing to indicate that the proposal isn't still on the table if the right tenants come along.
I've read the rumour about the Vancouver Ritz, but there seems to be some debate about whether the council member was simply misinformed. I'm going to leave it where it is until something more concrete emerges.