Toronto, the fifth largest Metro area in North America will see three new commercial Real Estate towers completed by the end of this year.
It seems the worldwide economic downturn did not affect Toronto Real Estate fundamentals as much as other cities and countries.
The three new downtown financial district office towers were planned prior to the recession due to the fact that for 17 years there were no new addresses for modern office space. As a result the developers have preleased more than two-thirds of the new office space.
- Bay Adelaide Centre West
- RBC Centre
- Telus Tower
Bay Adelaide Centre West
Developed by Brookfield Properties Corporation and BPO Properties Ltd. this 51-storey office tower will contain 1.2 million-square-feet.
One of their main tenants will be KPMG.
Construction costs for this project were $308 million CDN Dollars. Two more construction phases are planned adding another 2.6 million square feet of office space.
This new office tower is the first high-rise tower to be awarded a LEED Gold award.
RBC Centre
The RBC Centre is a 43-storey office tower with a ten-storey podium is the Royal Bank Of Canada's new head office. Development of this project was $420-million and sits at the edge of Toronto's entertainment District.
Environmental Features include:
- Windows can open on first ten floors
- Computer controlled lighting
- My favourite- Enwave Deep lake Water Cooling
- Rainwater collection for a variety of uses
- Floor to ceiling glass
Telus Tower
Telus Tower is 30-storey office tower, part of a complex with two new Maple Leaf Square Condominiums.
This new building with a cost of 250-million is connected both to the Path system and Union Station, a hub for subways, Go Buses, and Trains.
This is really a pace of Real Estate development unequaled in Chicago, New York, Los Angeles and even many of the European capital cities.
Toronto continues to amaze!
Toronto Condominium Listings in this area.
