The giants of Bay Street may be going south

Taller said:

Doesn't seem all that long ago that it was just a vague idea, but it is happening:
http://www.theglobeandmail.com/news...ay-street-may-be-going-south/article18233780/



Development
The giants of Bay Street may be going south

Tara Perkins AND Oliver Moore

The Globe and Mail

Published Saturday, Apr. 26 2014, 6:00 AM EDT

Last updated Friday, Apr. 25 2014, 6:35 PM EDT

Mike Mallinos marvels at the changes going on outside his office.

The 38-year-old principal at Stonegate Private Counsel, which sits near York and Bremner streets just blocks north of Toronto’s waterfront, used to work in the Financial District before his firm moved south of the tracks in 2010. The switch from “Bay Street” to an area of the city that had long been forgotten caused a little culture shock at first..........


read it all here:
http://www.theglobeandmail.com/news...ay-street-may-be-going-south/article18233780/

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There are only 3 office buildings on Bremner and a 4th one could be built beside the Ice Condos should they find an anchor tenant.

But this won't be enough to shift the epicenter of toronto's finance from king and bay to bremner and york.

Bremner is known more for its block parties when the leafs and raptors are in the playoffs.

King and Bay is still reigning supreme when it comes to the epicenter of Toronto's financial heart.

I found that article a bit odd as well. There may be some big name companies making the switch, but the bulk is overwhelmingly in the old CBD. I sense it's a little bit of self absorption on the part of these firms who are re-locating. They think the CBD is where ever their office is.

Then there's the prestige of those older office buildings like TD Centre and Royal Bank Plaza. There may be newer more modern digs elsewhere, but those newer buildings just don't have the cache of the ones in the CBD.

Well if there is some truth to these rumours, I hope it means more activity on the office-development front.

45 Bay Street, anyone? :yes:

isaidso said:

They think the CBD is where ever their office is.

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Isn't that true? If development is uninterrupted, it's simply a bigger CBD.

Midtown Manhatten BD is massive but it is defined primarily by where the office buildings are.

Bremner isn't exactly a huge distance from Front, and clearly Front & Bay was CBD.

This is all a work in progress; 8 years ago there was nothing there. I think the article is referring to the amazing momentum toward the Southcore area, and its potential.

rbt said:

Isn't that true? If development is uninterrupted, it's simply a bigger CBD.

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Not if the majority of firms are in the old CBD. I agree that we're just ending up with a bigger CBD, but the argument that Southcore is now the heart of the CBD just comes across as navel gazing by office workers who think the planets revolve around their desk.