TRENDS & OPPORTUNITIES IN CITY BUILDING
TORONTO REAL ESTATE FORUM 11.30.11 Sponsor: Source: UrbanToronto, 3Dementia Feb 2010
Getting it together: Downtown Toronto Development Trends
• Bringing home closer to work – Downtowns • Townhouse is the new single family home • Targeting affordability – Multiple housing, wood frame, private/public mixed tenure • Mixed-use development • More attention to building & urban design • Building height less an issue in downtown/ midtown/ uptown Development Trends
• Big box retail going urban • Universities/ colleges adding to vitality of downtowns • Accelerating Toronto waterfront development • Urban land costs escalating • Government agencies selling off land – Canada Lands - Build Toronto – IfInfrast ruct ure OOtntari o-ShSchool Boar ds Development Opportunities
• Acquiring government owned lands – Proposal calls, broker offerings – PtPartneri ng with agenci es • Transit oriented development, mobility hubs – BRT, LRT, Subway, Metrolinx/ GO, TTC • Big box urban retail • Suburban downtowns Development Opportunities
• Tying development to PATH system • Main Street (Avenues) mid-rise redevelopment • Seniors’ housing – with and without healthcare • Universityygp/ college expansion • Infill townhousing • Shoppi ng centre iiifintensificat ion / redevelopment BREAKING THE TOWER MOULD Marilyn Buildings (Absolute Condos, Mississauga) Monde Condos - Waterfront Toronto, Great Gulf Homes Studio Condos, Toronto Aspen Ridge Homes Affordability Crunch Coming Affordable Housing? Occupy Toronto ALL SECTORS BOOMING: CONDOS, OFFICE BUILDINGS & MIXED USE DEVELOPMENT
Distillery District MaRS Discovery District – Medical Research 222 Jarvis Office Retrofit – Infrastructure Ontario Queen & Portland Mixed Use – RioCan/Tribute Coming Office Buildings – Downtown Toronto 1 2 3 4 5 6 No Picture Available 100 Ade la ide Stree t Wes t Bay AdAdlidelaide - 2 SthSouthcore FiFiilnancial 16 Yor k Stree t 45 Bay Street Wat erpark Phase III Developer: Oxford Developer: Brookfield Developer: bcIMC / GWL Developer: Cadillac Fairview Developer: SITQ Developer: Oxford Properties Completion: 2015/16 Completion: Late 2015 Completion: 2015 Completion: 2015 Completion: 2016/17 Completion: 2015 Size: 580,000 sf Size: 900,000 sf Size: 750,000 sf Size: 800,000 sf Size: 1,300,000 sf Size: 825,000 sf NER: $32.00 NER: $33.00 NER: $29.00 NER: $29.00 NER: +/- $32.00 NER: $28.00 TMI’s: $27.00 TMI’s: $29.00 TMI’s: $25.00 TMI’s: $25.00 TMI’s: +/- $27.00 TMI’s: $25.00
7 8 9 10 11 12 No Picture No Picture AilblAvailable Available 1 York Street Queen Richmond Centre 333 Front Street East. Bayside Eaton Centre IV Developer: Cadillac Fairview Developer: Menkes / HOOPP Developer: Allied Properties Developer: First Gulf Developer: Hines Developer: Cadillac Fairview Completion: 2017 Completion: Late 2016 Completion: 2014 Completion: 2019 Completion: 2015 Completion: 2016/17 Size: 1.0 million sf Size: 850,000 sf Size: 277,000 sf Size: 500,000 sf Size: 250,000 sf ( x 2) Size: 1.0 million sf NER: TBD NER: TBD NER: $26.00 NER: $26.00 NER: $25.00 NER: $32.00 TMI’s: TBD TMI’s: TBD TMI’s: $18.74 TMI’s: $18.00 TMI’s: $15.00 TMI’s: $27.00
Source: BMO Capital Markets
Coming Office Buildings – 9Million Sq. Ft. Downtown Toronto 77 Charles Super Luxury Condos & Kintore College Was: Maple Leaf Gardens Now: Ryerson University Sports Complex, Loblaws & LCBO Shangri La, 5-Star Hotel + Super Luxury Condos Mixed Use: Condo Tower & Grocery Store Parc Downsview Park, Sheppard Neighbourhood Retail “Avenues” Project - 1717 Avenue Road, Toronto Thompson Boutique Hotel & Condos, Toronto Cityplace & Pedestrian Bridge, Concord Adex PLACE MAKING ON THE WATERFRONT Sherbourne Common, Waterfront Toronto Sugar Beach, Waterfront Toronto Corus Entertainment & George Brown College Waterfront Toronto Pan Am Athlete’s Village West Don Lands, Spring 2015 Infrastructure Ontario, Waterfront Toronto Underpass Park – Waterfront Toronto BRINGING HOME CLOSER TO WORK Path Master Plan
Dynamic Downtown/Midtown Toronto PATH Underground Retail Infrastructure Union Station Redevelopment Doubling Capacity Dundas West/ Bloor Mobility Hub – Air Rail Link Cooksville Mobility Hub, Mississauga SUBURBAN DOWNTOWNS: PLANNED MAJOR COMMUNITIES IN THE GTA
Mississauga Expo City
Vaughan Richmond Hill Seaton – North Pickering BROADENING THE HOUSING MIX Affordable Housing – 60 Richmond St E, Toronto Toronto Community Housing Corporation 2CF – 560 sq. ft. –Two bedroom Opera ‐ 741 sq. ft. – Three Bedroom Edge2 on Triangle Park Peter Street Condos
Attracting Families to Apartment Living More Bedrooms in Smaller Spaces Stacked Townhousing – Mattamy, Mississauga Seniors’ Housing - Concert, Etobicoke Mixed Use: Republic Condos & North Toronto Collegiate KIRKOR ARCHITECTS & PLANNERS 7171 Yonge St, Markham 777 Weston Road, Vaughan Hullmark Centre, North York The Madison, Toronto Centrust, Toronto TIFF Bell Lightbox Shops on Steeles, Markham Townwood, Brampton THE DANIELS CORPORATION First Home Stacked Townhomes, Mississauga First Home Stacked Townhomes, 4-Storey Wood Frame Regent Park, Toronto – Public/Private Housing Mix Regent Park - Paintbox Regent Park – Public/Private Housing Mix Regent Park – Public/Private Housing Mix TRINITY DEVELOPMENT GROUP Stockyards – Keele & St. Clair, Weston St. Clair & Gunns - Weston St. Clair & Gunns - Weston St. Clair & Gunns - Weston BUILD TORONTO 10 York 154 Front St E (Site Sold) 4050 Yonge Toronto, LEED Gold Downsview Development Site 1035 Sheppard