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http://www.theglobeandmail.com/serv.../LAC/20050418/RCADILLAC18/TPBusiness/Canadian

Site said to include hotel, offices, mall

By ELIZABETH CHURCH

Monday, April 18, 2005 Page B5

REAL ESTATE REPORTER

Maple Leaf Sports and Entertainment Ltd. is teaming up with two veteran real estate companies in a proposed new retail and commercial development next to Toronto's Air Canada Centre, industry sources say.

The new project, to be announced tomorrow by the partners, will include a shopping concourse that individuals familiar with the project describe as a "destination site." The multileveled retail space will feature a special sports-themed venue that will centre on MLSE's two professional franchises, the Toronto Maple Leafs and the Toronto Raptors.

Cadillac Fairview Corp. Ltd., the commercial real estate arm of the giant Ontario Teachers Pension Plan, is involved in the retail portion of the joint venture. The lead developer on the project is Lanterra Developments, an arm of Toronto-based H&R Developments Corp., individuals familiar with the project said.

The site for the proposed project is just west of the Air Canada Centre on the vacant lot south of Bremner Boulevard that fronts on York Street. It is bounded by Lake Shore Boulevard to the south. An application for rezoning and an official plan amendment has been filed with the City of Toronto for the site.

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Plans for the project include a boutique hotel, office space, condominiums and a daycare centre, as well as the multileveled mall, industry sources say.

A spokesman for Cadillac Fairview confirmed that the proposed development will be announced at a special event tomorrow, but would not provide further details.

Tomorrow's announcement will be the second kickoff of a commercial project in downtown Toronto in as many weeks. Ritz-Carlton Hotel Co. and Graywood Developments Ltd., announced plans last week for a $300-million, 53-storey tower on the south side of Wellington Street, between Simcoe and John Streets.

Cadillac Fairview also has links to that project. The firm owns the site to the east of the proposed hotel where it hopes to one day build a 50-storey office tower and is considering a stake in the hotel project.

Falling vacancy rates and rising investor interest in commercial real estate have a number of developers jockeying to build mixed use or office projects in Toronto's core.
 

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Wow!Two big projects announced in two weeks! I can't wait until tomorrow to hear more about this!

"Cadillac Fairview also has links to that project. The firm owns the site to the east of the proposed hotel where it hopes to one day build a 50-storey office tower and is considering a stake in the hotel project."

"Falling vacancy rates and rising investor interest in commercial real estate have a number of developers jockeying to build mixed use or office projects in Toronto's core."

I must be dreaming, the office boom back in Toronto!
 

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News Conference Info:

Media Advisory - Maple Leaf Sports & Entertainment, Cadillac Fairview and Lanterra Developments to make major development announcement
TORONTO, April 18 /CNW/ -

WHAT: Maple Leaf Sports & Entertainment (MLSE), Cadillac Fairview and
Lanterra Developments will unveil plans about a major development
in Downtown Toronto.

WHO: Richard Peddie, Maple Leaf Sports & Entertainment
Ian Clarke, Maple Leaf Sports and Entertainment
John Sullivan, Cadillac Fairview
Mark Mandelbaum, Lanterra Developments
Barry Fenton, Lanterra Developments

Interview and photo opportunities available

WHERE: Air Canada Centre
Main Galleria (outside of Gate 1 between York and Bay)
40 Bay Street
Toronto

Media is asked to enter the building through Gate 2.

WHEN: Tuesday, April 19, 2005
11 a.m.

Greater Toronto Area media can access the news conference through a fibre
link: ACC TX-1 between 10:45 a.m. to 12 p.m. on Tuesday, April 19, 2005.




For further information: Media Contacts: Rajani J. Kamath, Maple Leaf
Sports & Entertainment, (416) 815-5790, Neil Murphy, Cadillac Fairview,
(416) 598-8645
 

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According to 4thought over at UT the building is 166m + 8m rooftop element.The rendering shows 2 towers similar to Radiocity (just taller)/TIFF. It is probably a KPMB project.
 

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Dino Sauro
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That's excellent news. Finally they are going to fill that gap.
But, wasn't that space reserved for 18 York st. development,
and that "emptiness" across Infinity...1 Union Plaza...wow
, that will be dense area !!!

:carrot: :carrot: :carrot: :carrot: :carrot: :carrot: :carrot:
 

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Yonge and Eglinton-Midtwn
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Anyone know this sucker's height? Also, where exactly is the location for this going ot be. I mean I know the area it will be in, but will it be south of ACC, west or east?

Lastly, does anyone know that parking lot (or field) that is directly on the south side of the tracks and south of the convention centre? It's like a small strip of grass or parking lot between York st. and the Skydome and I always wonder when somthing is going to be built there? Anyone know anything about that area?

Cheers!!
 
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