London Construction - Development News Thread #1

[Rosso Corsa]

Originally Posted by ldoto

Another sleek blue tower rising in downtown London will be true to its name.

The 29-storey condo tower will be called Azure — Italian for blue.

Developer Tricar Group held a groundbreaking Tuesday for the highrise at Talbot and Dufferin streets.

Tricar announced the new building will include a public art project with funding up to $250,000, in partnership with the city of London.

Tricar sponsored a similar project on its Renaissance I tower, a sculpture of a blue heron by London artist Ted Goodden.

Tricar vice-president Adam Carapella said he’s confident the condo market in downtown London is strong. He said the 200 units in the company’s Renaissance II tower a couple of blocks south sold out quickly.

“We do see the demand, and nothing else has been built since that project was completed in 2013.”

Unlike the Toronto market where many condo units are bought by investors who rent them out, Carapella anticipates about 90 per cent of the units in the new building will be owner-occupied.

In September, city council approved the demolition of three historic buildings on the site to make way for the development.

Speaking at the groundbreaking, Mayor Matt Brown said projects such as the Azure condos are important to the city plan for higher density and more efficient transit in the core.

Downtown London is less than one per cent of London’s land mass but generates five per cent of tax assessment, he said.

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http://www.lfpress.com/2015/12/08/tricar-group-breaks-ground-for-london-condo-tower

Sea of blue. I Like

[Dither City]

The Cube 304 Talbot Street interesting link showing little bit more inside the project.


http://thearcanecube.tumblr.com


http://www.lfpress.com/2015/12/13/a-thro...-debuting-anew-for-the-search-engine-era

[Dither City]

Constructions commencing new research facility (WIRB) on University of Western Ontario campus. The Western Interdisciplinary Research Building.

http://news.westernu.ca/2015/12/20095/

[ssiguy]

That's a pretty big centre they are building at Western.

It's also great that the new downtown tower isn't another concrete monster.

[Dither City]

455 Clarence Street something new interesting little piece of information not sure who is requesting the zoning.


http://www.london.ca/business/Planning-D...cuments/londoner/2015-12-24/Z-8560NA.pdf

[GreatTallNorth2]

Wow, yet another tower planned for downtown - 31 storeys and 102 metres would make it the 2nd tallest in the city. I remember many years ago there was an office tower proposed for that lot. Great location for tower.

[HillStreetBlues]

Commercial at street-level, seven-storey podium: sounds great. A little too much parking is the only negative comment I might have.

Great location for something like this. Now to just get it built...

[bolognium]

I've heard rumblings about this tower for almost a year now, but I'm still a little shocked to actually see a proposal for this lot. I'm all for infill and intensification, but not when it negatively affects my view like this! Renaissance residents demand a right to their sunsets, and I'm going to fight for my view of One London Place.

This intensification will not stand, man.

[sparky212]

Can't tell if sarcasm or serious lol

[ssiguy]

Is anything actually under construction right now or are these just rumours?

[sparky212]

505 talbot (29s) has about 75% of the piling finished as of the last time i checked and the third tower at the revo on king has its site cleared other than that its all proposals.

[MolsonExport]

Originally Posted by Dither City

55 Clarence Street something new interesting little piece of information not sure who is requesting the zoning.


http://www.london.ca/business/Planning-D...cuments/londoner/2015-12-24/Z-8560NA.pdf

London Proposals are on a tear this winter.

[GreatTallNorth2]

Any predictions on how many cranes we will see downtown in 2016? I sticking my neck out and saying 3. Tricar's project on Talbot is pretty safe bet. I think 50 King by the county could see a crane later in the year. They have the project approved and they sound anxious to build. Lastly, I am guessing 1 of the other projects will get started - maybe Rygar or anyone of the other projects proposed.

The situation in London is similar to what we saw in the 80's with office buildings that were proposed. There were a ton of tall office towers proposed: at Galleria/CitiPlaza, another massive project where Bud Gardens now is, and several other projects, but it's the developers that get the shovels in the ground first that actually build their projects. The city of London will only be able to support so many new apartments/condos so if we get 3 built I think we will be doing good.

[Snark]

Originally Posted by GreatTallNorth2

Any predictions on how many cranes we will see downtown in 2016? I sticking my neck out and saying 3. Tricar's project on Talbot is pretty safe bet. I think 50 King by the county could see a crane later in the year. They have the project approved and they sound anxious to build. Lastly, I am guessing 1 of the other projects will get started - maybe Rygar or anyone of the other projects proposed.

- Tricar on Talbot will clearly happen.

- 50 King, while having a very motivated owner, still has much to do prior to groundbreaking. Not impossible that the crane could be up within 12 months of now, but I'd probably bet against it. That said, stranger things have happened.

- Apparently Rygar is real after all (as this year they actually purchased the land that they claimed two years ago they were going to break ground on almost immediately ), but many questions remain. They were to announce their new (or at least revamped) proposal about 3 months ago, yet still crickets. This proposal has been a mystery with so many twists and turns that without the recent land purchase to show some action of substance, I'd consider the whole thing nothing more than smoke and mirrors. One thing is likely though: 2016 will be the year that shows whether this thing is real or not - whether they actually break ground or not.

- The wild card that many are forgetting is the Ayrswood proposal at King/Clarence. If constructed as proposed, this would be as dominant to the skyline as OLP, if not more.

[MolsonExport]

More good news that augers well for construction.

Vacancy rate down despite building

[bolognium]

Can downtown absorb all of these proposed units, or will the first couple to break ground stall the other projects?

[ldoto]

Originally Posted by MolsonExport

welcome back Ldoto. haven't seen you for ages.

Yes I am still Alive!!!LOL Happy new years!!!

[Snark]

Update of proposals.

[sparky212]

Interesting little article in the feeps today. I wonder how serious frijia is about this.
http://www.lfpress.com/2016/01/18/demolition-turned-down

[jaradthescot]

Saw this today on am980. Terrible bluff. His whole plan is apparently to build a highrise around a crumbling, structurally unsound building and he doesn't even have the permits to build anything about 4 stories on that land. I suspect he's also sapping any goodwill he would need to get those permits.