05-07-2016, 10:51 AM
(05-07-2016, 08:35 AM)panamaniac Wrote: According to a report in today's record, the company behind the renovation of "Weber Chambers" on King St W will be converting the smaller tower of Corporation Square (the building above the Apollo Cinema on Ontario St at Duke) into apartment units. Interesting and a bit strange at the same time, although I suspect rental apartments at that location will be snapped up. I wonder at what point Downtown will see a demand for new "standard" office space?
http://www.therecord.com/news-story/6542...partments/
There is still a fair bit of supply of standard or near-standard office space, with 55 King W (TD/Igloo), 305 King W (old Canada Trust), 385 Frederick (Galleria), 30 Queen N and 50 Duke W among others. However, it's true that 55 King W is now nearing full occupancy; don't know what the vacancy levels are at the other office buildings.
DREAM still has the ability to build a second tower behind 55 King W, where the surface parking is now, but I suspect they don't have any near-term plans to do that.