Developers are betting on the continued shift of office work from the suburbs to downtown in Toronto, as the city experiences a building boom to support brisk business in the technology and financial-services industries.
"Oxford Properties Group is planning a C$3.5 billion ($2.7 billion) development in downtown Toronto that would be one of Canada’s biggest real estate projects," reports Natalie Wong. Oxford Properties Group is a co-developer of the $25 billion Hudson Yards project in New York City, along with Related Cos.
The project calls for a "4.3 million-square-foot, mixed-use complex on a 4-acre site that’s just north of Toronto’s Rogers Centre and CN Tower."
"Plans call for two office towers, of 58 and 48 stories, about 800 rental apartments across two buildings and 200,000 square feet for retail," adds Wong. "Three acres will be devoted to public space, including an urban park over the Union Station rail corridor, which spans Blue Jays Way to the John Street Bridge."
FULL STORY: Hudson Yards Developer Plans One of Canada’s Biggest Projects
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