03-19-2021, 07:56 PM
(03-19-2021, 05:21 PM)westwardloo Wrote: Either way the building as it stands does not appear to be working. Stantec left for a more modern office, The Record is leaving to reduce cost, I can't see a major company taking over this Class C office space in this market. Europro may end up spending big money to retrofit the building to entice a long term tenant. I am sure they are already talking to Conestoga College to begging them to fill the void. Personally I hope this doesn't happen and the site ends up selling to a developer. It is subjectively ugly, but it also interacts horrible with the urban environment. It would cost a ton of money for them retrofit the building to fix this, if it is even possible, there are loading bays of king st.
I expect that EuroPro has a pretty good idea of the demand and trends for office space in DTK, given that they own most of the office buildings downtown, and this is their core business. At the moment the office vacancy rates in DTK are still pretty low, and there is new space being built. That may change, but it's certainly not a ghost town as far as office space goes.
As discussed above, there are things that can be done to improve King St interaction, and it's possible to redevelop a portion of the property, so options do exist. (There are no loading bays on King St, those are on Scott St, but there is a garage entrance on King St.)