Toronto Star office parking lot set to succumb to city’s condo craze
The Toronto Star parking lot is about to become the latest piece of land to succumb to the city’s condominium craze, according to multiple sources.
A deal is expected to close in the coming days that would see Vancouver-based Pinnacle International Realty Group develop the project which is expected to include up to three towers. The existing office tower at One Yonge St., home to the Toronto Star which has a long-term lease for its space, will not be impacted by the development.
“The actual Toronto Star building will not be touched,” said a source close to the deal, who did not want his name used. The newspaper has options which could extend its lease another 20 years.
“I’m sure it will be something iconic,” said a source. “They are planning multiple towers. It will be a major Yonge Street address with great water views.”The revitalization of the waterfront near Yonge has made the area ripe for development, said the source. “Investors are looking for more triple A projects than just run-of-the-mill projects. It makes sense to locate close to transit, close to the subway.”
One industry developer said the land could be worth as much as $70 to $75 per buildable square foot in today’s real estate market. “It’s a big lot, so we are talking very big numbers,” said the developer.
http://business.financialpost.com/20...craze-sources/
New render for King Blue Condos in the Entertainment District
48s-511 feet/44s-461feet
Preview of new render for 10 York Street (Southcore)
Description
Architect: Wallman Architects Ltd.
Developer: Tridel Corporation
The first design for this project was for a 75 story, 253.4 meters/830 feet tall tower with a square shaped floor-plate.
It was then redesigned to a 68 story tower with a triangular shaped floor-plate reflecting the shape of the site.
E-Condos @ Yonge and Eglinton (64s-663 feet/ 38s-393 feet) finally hits the market
Apparently there was a massive turnout of agents last week at the E VIP Broker event.
New render for 88 Scott (58s-669 feet)....after 3 months in sales, its 50% sold
Massey Tower-197 Yonge street (60s-207 meters/683 feet)....Six months after CP proposal, now over 75% sold
From UrbanToronto
197 YONGE ST
OPA / Rezoning 12 133580 STE 27 OZ Ward 27
- Tor & E.York Mar 7, 2012 --- --- --- ---
Official Plan and Zoning by Law Amendment application to permit the re-development of the lands for the purposes of a new mixed use building that includes the retention of the existing heritage building on the premises. Included in the proposal is a 60 storey, 207m high building containing retail uses in the retained heritage strucutre and 687 dwelling units above. 116 parking spaces to serve the development in an above grade parking deck will also be provided.
INDX Condos (70 Temperance, Lifetime/CentreCourt, 54s-587 feet/180 meters, P+S) Condos....over 80% sold and now ready to break ground
Application: New Building Status: Not Started
Location: 70 TEMPERANCE ST
TORONTO ON
Ward 28: Toronto Centre-Rosedale
Application#: 12 235082 BLD 00 NB Accepted Date: Aug 24, 2012
Project: Mixed Use/Res w Non Res New Building
Description: Proposal to construct a 54 sty condo with ground floor commercial, 4 levels of below grade parking, and 798 residential units.