Quote:
Originally Posted by travis3000
Yeah Toronto has so many huge tall tower PROPOSALS but when it comes to something concrete... there's not much on the horizon. After One Bloor East gets built up, that's the end of the fun until one of these tall proposals makes it to the other side of going into sales/ construction.
We have the Mirvish towers (900ft, 1000ft) which everyone on the inside believes will never get off the ground, then there's the Oxford project which most people see as a long term vision (10-20 years in the future) which will likely be altered, our office tower proposals are mounting... Union Centre (780ft), 156 Front (870ft), 45 Bay (833ft) are all awaiting tenants and could easily be 5-10, maybe even 15 years down the road. It's always hard to say with commercial towers because they can be downsized quite easily, and given Toronto's commercial boom in the last 7 years, there's not exactly a huge amount of companies lining up to headline a 1 million+ square foot tower. There's the rumours on One Bloor West monster but that's in the planning stages, and probably is still 1-2 years away from even being proposed. We have Cityplace Signature Towers at 710ft and 810ft but given the cheap design of those, many prefer they don't get built. What's left? There's One Yonge... a cluster of 5 towers that faces high chance of height reductions from council and even so is still probably 5+ years away from starting construction. Holts Tower seems stalled, and has been downsized from 910 to 750ft.
So I just hope some of these projects come out of the darkness of the "proposed" world and into a realistic chance of being constructed. After 1 Bloor and the taller Harbour Plaza twin, there's no more 750ft+ towers going ahead in TO. Do you guys think there will be a tower/s that could start construction in the next 4-5 years that will be in this category?
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Everything seems stalled until it's not. Just a few weeks ago, 592 Sherbourne, Pinnacle Adelaide II and 501 Yonge all seem stalled, and now suddenly they're "The Selby Condos", "PJ Condos" and "TeaHouse Condos" respectively, and are ramping up their marketing and sales.
Condo sales have picked up again in recent months and so have project launches (e.g. The Selby Condos, PJ Condos, Residences of 488 University Avenue, TeaHouse Condos), so I wouldn't be shocked to see some of the 200+ metre condo projects begin sales sooner rather than later. Don't forget that both 50 Bloor West and 27 Yorkville have been approved already.
I'm also guessing that one of 156 Front, Union Centre and 45 Bay will start sometime next year. Rumours are that there's a big bank looking for space and all three are probably contending for it. 45 Bay probably has the edge as they've already got the deal with the bus terminal in place.