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Old October 14th, 2011, 07:52 PM   #61
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WOW! This is big news! Thanks for posting this, Bison! The article clearly states that the building will be the new national headquarters for RBC. I agree, 30 storeys does seem to be a letdown. Here is a snippet from the article you quoted.
http://www.theglobeandmail.com/globe...ontent=2201052

OMERS, CPPIB to develop new RBC headquarters
TORONTO— The Canadian Press
Published Friday, Oct. 14, 2011 9:26AM EDT
Last updated Friday, Oct. 14, 2011 10:43AM EDT

Two of Canada's largest pension plans are teaming up to build a 30-storey office tower in downtown Toronto that will become the new national headquarters for Royal Bank of Canada (RY-T47.60-0.22-0.46%).

The development, to be called RBC WaterPark Place, is a 50-50 joint venture between the Canada Pension Plan Investment Board and Oxford Properties Group, the real estate arm of OMERS, the Ontario Municipal Employees Retirement System.

more here:
http://www.theglobeandmail.com/globe...ontent=2201052
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Old October 14th, 2011, 07:56 PM   #62
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I wonder if BMO will follow.
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Old October 14th, 2011, 08:14 PM   #63
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Is this a separate RBC division from the main Royal Bank division? What about the existing Royal Bank tower?
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Old October 14th, 2011, 09:04 PM   #64
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I suppose their global operations will use the existing Royal Bank tower while their domestic retail operations will be run out of this new building.
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Old October 14th, 2011, 09:44 PM   #65
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This could mean a significant shift of jobs from Montreal to Toronto.

If they are officially moving their headquarters, RBC will lose its exemption from Quebec's language laws (if you base your company in Quebec, the language requirements for workplaces are less strict). I suspect switching to a French only environment may not be practical in a lot of circumstances, in which case you would just move the jobs to another province.
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Old October 14th, 2011, 09:49 PM   #66
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There is a rendering of the building in the CBC article.

http://www.cbc.ca/news/canada/toront...waterpark.html
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Old October 14th, 2011, 09:59 PM   #67
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At 30 stories, i honestly didn't expect to get much more than a box. I hate being right.....
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Old October 15th, 2011, 12:36 AM   #68
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http://www.skyscrapercity.com/showthread.php?t=1375095
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Old October 15th, 2011, 01:20 AM   #69
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Damn, I knew I couldn't be the first to find something.
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Old October 15th, 2011, 02:28 AM   #70
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30 storeys and it's the national HQ of Canada's largest bank????
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Old October 15th, 2011, 02:54 AM   #71
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The National Post has a render. The RBC building will house their cosolidated national offices from around the GTA into a single downtown location in proximity to their Head Offices up on Front St.

I know the access road to the west of the site was scrapped due to local resident opposition. The York St. ramp will eventually be torn down replaced with one at Simcoe. I don't know what impact this development will have on other development in the area.

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Old October 15th, 2011, 04:00 AM   #72
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Calm down everyone! This is only their national retail banking HQ - the global head office with all the bread and butter jobs (wealth management, investment banking, executive) will remain split between the much more glamorous RBC Plaza and Centre.
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Old October 15th, 2011, 05:46 AM   #73
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Quote:
Originally Posted by Bisonblight View Post
This could mean a significant shift of jobs from Montreal to Toronto.
.
The defacto head office has been here for about a generation now. Like the Bank of Montreal, the official head office in Montreal is relatively small.

I kind of expected this one to look pretty much identical to the RBC Dexia building, and it appears to be.
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Old October 15th, 2011, 07:09 AM   #74
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The head office is small, but I assumed, that like BMO, they have many operations in the Montreal area. If they are not moving their official headquarters, it doesn't matter anyway.

Four thousand seems like a lot of people from consolidation in the GTA alone, but not an improbable number I guess.

The rendering from the CBC article is a bit better than the one above, if anyone wants to post it. It is reminiscent of the other recent office buildings south of the railways.

Last edited by Bisonblight; October 15th, 2011 at 11:39 AM.
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Old October 15th, 2011, 07:28 AM   #75
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On paper, the head offices are in Montreal. In reality, they moved here in the 70's. They wouldn't dream of moving the official head office, as it would create political waves, and banks are not in the business of doing that.
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Old October 15th, 2011, 05:11 PM   #76
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Why cap it at 30? Won't they run out of space soon?

Why not go bold and make it 50 or 60 stories?
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Old October 15th, 2011, 06:50 PM   #77
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I'm expecting that in this case they are simply maximizing the return of their investment, as a 30 storey building is cheaper to build. Shame, though... this could have been an opportunity at a very tall structure. I wish they would ditch the design they have been hung up on since the RBC Dexia building and go for something newer looking, but I don't think they will.
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Old October 15th, 2011, 11:22 PM   #78
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In a perfect world the city would reject this. I don't want southcore to be all glass.
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Old October 15th, 2011, 11:52 PM   #79
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This will be the new hq for Canadian banking division only. RBC capital markets, wealth management, T&O, etc. will not move, maybe some support staff here and there, but that's all. It will be a very green and environmentally friendly building.

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Old October 16th, 2011, 07:57 AM   #80
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likely pretty much identical to the RBC/Dexia and the Telus building.
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