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Maturing Toronto’s Lowering Centre of Gravity

South Core office buildings break more ground

By Zoe Ackah
Special Features Editor
Created: January 23, 2013 Last Updated: January 23, 2013
Related articles: Business » Real Estate
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(L-R) Michael Coteau, Don Valley East MPP; Lisa Lafave, HOOPP’s senior portfolio manager; Jim Keohane, president & CEO, HOOPP; Peter Menkes, president, commercial/industrial div., Menkes Developments; Michael Catford, vice-president, real estate, HOOPP Realty Inc.; Alan Menkes, president, high-rise residential div., Menkes Developments; Steven Menkes, president, low-rise residential div., Menkes Developments. (Zoe Ackah/The Epoch Times)

(L-R) Michael Coteau, Don Valley East MPP; Lisa Lafave, HOOPP’s senior portfolio manager; Jim Keohane, president & CEO, HOOPP; Peter Menkes, president, commercial/industrial div., Menkes Developments; Michael Catford, vice-president, real estate, HOOPP Realty Inc.; Alan Menkes, president, high-rise residential div., Menkes Developments; Steven Menkes, president, low-rise residential div., Menkes Developments. (Zoe Ackah/The Epoch Times)

As Toronto’s downtown falls into step with the province’s anti-sprawl legislation, the boom in residential condominiums has created a need for new office towers.

Tucked among the tendrils of the Gardiner Expressway and anchored by Union Station, the South Core area is the logical answer to the questions of the downtown core’s low office vacancy rate.

One York Street rendering. (Courtesy The Communications Group PR)

One York Street rendering. (Courtesy The Communications Group PR)

Menkes Developments Ltd. and Healthcare of Ontario Pension Plan (HOOPP) recently broke ground on a mixed-use site at One York St. that will eventually be home to a new 35-storey office building and a pair of residential condominiums expected to be formally announced this spring.

One York builds on Menkes’ and HOOPP’s successful partnership at 25 York St. 

Peter Menkes, Menkes Commerical/Industrial Division president, referred to the Telus Home building at 25 York as “the pioneering office development that kicked off the momentum for the South Core Financial district five years ago.”

One York is a true sibling of older brother 25 York. Both buildings are designed by Sweeny Sterling Finlayson & Co. Architects. 25 York has achieved Leadership in Energy and Environmental Design [LEED] Platinum status, something One York is also pursuing.

 

Next page……first announced tenant says green technology greatly reduces operating costs.





   

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