Real Estate

Dream Office REIT betting on Toronto with biggest development proposal since COVID-19 pandemic began

  • Last Updated:
  • Dec 15th, 2020 8:56 am
Deal Guru
Dec 20, 2018
10132 posts
10242 upvotes

Dream Office REIT betting on Toronto with biggest development proposal since COVID-19 pandemic began

pretty bold to propose so much office space and modest residential units, speaks to long term view of the big players

https://www.theglobeandmail.com/busines ... ef=premium
A major Canadian developer is betting on the future of downtown Toronto, both the residential and office markets, with a new development proposal that’s the biggest in the city since the onset of COVID-19.

Dream Office REIT submitted an application this week to build a 310-metre office and residential complex at 212 King St. W., on the edge of the financial district. The tower would be among the tallest buildings in the city.

Designed by SHoP Architects of New York, the 79-storey tower would include 660,000 square feet of office space and 588 residential rental units. The base would include 10,000 square feet of retail and restaurant space in portions of three heritage-protected loft buildings. The owner of one building, privately held Humbold Properties, is partnering with Dream on the project.
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16 replies
Deal Expert
Feb 29, 2008
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Tarrana & The Ri…
Fools didn’t read RFD first?

Excellent location.
Deal Addict
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Nov 5, 2018
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Toronto
JayLove06 wrote: Fools didn’t read RFD first?

Excellent location.
This is my favourite location in the city. Those who bought pre-cons here back in the day are laughing all the way to the bank. New construction here will go for $1,500-2000 a foot and unfortunately I can't make the numbers work.

But, most beautiful area in the city. IMO if you already own here (I sincerely wish I did), hold forever.
Called the bottom.
Deal Guru
Dec 20, 2018
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CondoMan98 wrote: This is my favourite location in the city. Those who bought pre-cons here back in the day are laughing all the way to the bank. New construction here will go for $1,500-2000 a foot and unfortunately I can't make the numbers work.

But, most beautiful area in the city. IMO if you already own here (I sincerely wish I did), hold forever.
ya...love the location and I'm a subscriber to TSO (Before covid19) too..but definitely will be well beyond my price range as property to add to portfolio, only way i can justify it is if i move in there myself lol..
Sr. Member
Jul 7, 2019
867 posts
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With the mix of retail, office and residential units planned for this, is there any comparable building that we have similar to this today?
Deal Expert
Feb 29, 2008
21738 posts
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Tarrana & The Ri…
CondoMan98 wrote: This is my favourite location in the city. Those who bought pre-cons here back in the day are laughing all the way to the bank. New construction here will go for $1,500-2000 a foot and unfortunately I can't make the numbers work.

But, most beautiful area in the city. IMO if you already own here (I sincerely wish I did), hold forever.
Had the opportunity to buy there almost 10 years ago theatre park. So cheap but at the time I felt the price was high for such a tiny unit. I was a fool. I was more cautious back in the day.
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Nov 5, 2018
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JayLove06 wrote: Had the opportunity to buy there almost 10 years ago theatre park. So cheap but at the time I felt the price was high for such a tiny unit. I was a fool. I was more cautious back in the day.
Theatre Park is amazing. I just don’t like the really small studios there, but besides that it is A+++
Called the bottom.
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Mar 31, 2008
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JayLove06 wrote: Had the opportunity to buy there almost 10 years ago theatre park. So cheap but at the time I felt the price was high for such a tiny unit. I was a fool. I was more cautious back in the day.
Weren't we all.

Folks, the unlimited money printing is going to keep inflating hard, 'limited' asset demand. It's just a matter of timing, your own comfort and strategy. Of course income and current debt load are constraints but it's clear with significant population growth... Real estate will be up up and up and never looking back.
Deal Expert
Feb 29, 2008
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Tarrana & The Ri…
at1212b wrote: Weren't we all.

Folks, the unlimited money printing is going to keep inflating hard, 'limited' asset demand. It's just a matter of timing, your own comfort and strategy. Of course income and current debt load are constraints but it's clear with significant population growth... Real estate will be up up and up and never looking back.
Yes but I actually had an in with the agent there since I bought previously. This was very early stages.
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Mar 31, 2008
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JayLove06 wrote: Yes but I actually had an in with the agent there since I bought previously. This was very early stages.
Yikes, yea, gotta take your lumps on that.
Deal Fanatic
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Dec 16, 2015
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Distance: 50 Metres
Stonks* only go up

*including condos
To the moon
Deal Expert
Feb 29, 2008
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Tarrana & The Ri…
at1212b wrote: Yikes, yea, gotta take your lumps on that.
Eh, if only that was the only one. I have many lumps to take.
Banned
Jul 23, 2020
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StatsGuy wrote: pretty bold to propose so much office space and modest residential units, speaks to long term view of the big players

https://www.theglobeandmail.com/busines ... ef=premium
They aren't committing to building it. This won't get built until they have tenants locked in. These guys are also involved in the Mirvish+Gehry project that was originally proposed...10 years ago now? I doubt that thing gets built.
Deal Guru
Dec 20, 2018
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sooonk wrote: They aren't committing to building it. This won't get built until they have tenants locked in. These guys are also involved in the Mirvish+Gehry project that was originally proposed...10 years ago now? I doubt that thing gets built.
Huh? Mirvish+Ghery just resubmitted revised plans with even taller height based on comments from city which is how planning approvals work (Mirvish got the approvals for initial proposal which was submitted in 2014 and great gulf bought it from Mirvish in 2017)
Sr. Member
Dec 22, 2004
736 posts
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Toronto
CondoMan98 wrote: This is my favourite location in the city. Those who bought pre-cons here back in the day are laughing all the way to the bank. New construction here will go for $1,500-2000 a foot and unfortunately I can't make the numbers work.

But, most beautiful area in the city. IMO if you already own here (I sincerely wish I did), hold forever.
That lived around the corner of this site. Amazing location. 5 mins from door to door of my office. So close to everything. Most walkable area of the city. $1500 is worth it. I passed on so many deals because I didn’t want to move. Every other location was a total downgrade to me. I miss it everyday.

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