Here is the daily article from Reuters.
They sound a cautious not on the condo development in Toronto even as they interview Barry Fenton of Lanterra Developments. They are concerned that Toronto's infastructure of transit, roads and sidewalks cannot maintian the current level of development unabated. Something must be done to bring the city up to standards before more people begin to flood the core. Warning bells they say sounded when there was a spate of 5 megatall or supertall tower projects proposed for Toronto within 3 weeks of each other this when the Mirvish-Projectcore development with Three Towers over 80 floors was followed by the Oxford annoucement of twin 1000 foot towers hovering over the convention centre, part of a planned 3 billion dollar renovation and reviatalziation project for Front Street.
THE MEGA-PROJECTS
Now two of the most ambitious projects the city has ever seen are being floated.
First out of the gate was theatre impresario David Mirvish, who with his father, the late Ed Mirvish, helped create Toronto's vibrant arts and theatre scene.
In early October, Mirvish unveiled a plan for three condominium towers, with up to 85 floors each, that would be the city's tallest buildings. A podium at the buildings' base would house two museums, including one for the Mirvish family's contemporary art collection. The Mirvish buildings would be designed by Gehry, the celebrated Canadian-born architect whose 76-story 8 Spruce Street residential tower was just completed in New York.
"These towers can become a symbol of what Toronto can be," the 83-year-old Gehry said at project's unveiling. "I am not building condominiums, I am building three sculptures for people to live in."
Two weeks later, Oxford Properties Group, a Canadian developer with a $20 billion global real estate portfolio, announced a $3 billion makeover of the downtown convention center, just south of the Mirvish and Gehry project. It envisions a casino, two hotel towers and two office towers that would be among the tallest in the city.
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| Oxford Place Skyline Rendering |
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