
Perhaps they'll be the one to build the next great office building for Toronto. Lord knows the others won't. They're content building completely forgettable 30 floor cubes all over the place.
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Originally Posted by Innsertnamehere
There just simply isn't a market for 2 million square foot office buildings rising 250+ meters.
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There is, but we have a lot of different developers wanting a piece of the pie and they're excruciatingly conservative firms. They got a bit ahead of themselves before and got burned. Now they've swung to the other extreme.
Downtown Toronto needs a ton of additional office space, but the problem is that most of this new space won't come on stream for another 2-3 years. A tight market is going to get even tighter.
By 2015, we'll likely have built up 2 more years of demand. Developers are going to be in catch up mode for many years to come.