100 Adelaide (aka Richmond Adelaide 3) Construction Imminent
Seems as though Tenants are moving out of 100 Adelaide West, in preparation for what might be the construction of the 100 Adelaide Tower. (Office) There seems to be no official word on how tall the tower will be because there have been three renderings released. On top of that 3 office towers have started or will start within the year, including Bremner Tower, Waterpark Place, and Bay Adelaide 2. This means that securing tenants is probably getting tricker as each new building moves forward into the construction stage.
The Developer
The Developer is Oxford properties, the same company that runs the Royal Bank Plaza and they have been pushing this tower with square feet up to 900,000 in it's largest incarnation. Large open concept space in the heart of the financial district likely well suited to accounting, legal and banking or professional services companies that would value such a central location.
The Tower
The tower incoporates the hertiage Concourse building at the base, 2 of the 4 walls will be retained in the new tower. Discussion on internet boards, has centered on whether the entire historic building should be maintained or if the node to the past and intergration of it into the modern building is sufficient.
Oxford Leasing Site
Getting a Mortgage and Mortgage Insurance through BMO Insurance for financing a loan to purchase at FIVE Condos is actually a relatively easy process, and new rules from the federal government has required that company include new regulations, which have made the home loan and mortgage process a bit more difficult. Those changes at BMO Insurance include shortening the amortization period for which the loan can be held by the consumer, and the degree to which the property is financed by the mortgage. They have also increased deposit requirements to lift the loan insurance amount. Mortgage insurance from BMO Insurance is actually one of the major financing costs on home loans.
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