SITQ and Ivanahoe Cambridge Find Development Partner for 45 Bay Street

New Information Update: SITQ and Ivanahoe Cambridge have found a Toronto based development partner for the site of the 45 Bay Office Tower and Bus Terminal, the name of the partner has not yet been released. There has been some speculation which I have posted below that there would be a design competition for the tower and it could even reach over 1000 feet/ 300 meters. 

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Ivanahoe Cambrige, and SITQ that are the property managers of the large lot known to Torontoians as 45 Bay next to Union Station and Air Canada Centre, have stated an interest in having a design competition for the tower which is curretly slated for 245 meters in height. I know for a fact, that the city will likely require whatever building that is built here to have a bus terminal within the lower floors of the tower, to relieve the temporary GO Bus depot just north of this lot. 

This project, along with the other office and condo towers, is part of a projected "Next Wave" of massive Supertall and Megatall skyscraper development that has taken hold in Toronto. Just as we are getting use to 60 floor and 70 floor towers, we are hearing word of 80 floors towers, 90 floor towers, and 100 floor towers. Toronto has reached the next stage of Global City Evolution, and even the Financial Crisis, couldn't stop our rise. 

However some may state that it is the very Financial Crisis, that has caused this latest wave of investment and cash inflows into Toronto as the world seeks the only safe place to hold it's money as the Americans and Europeans fell on their faces during the Mortgage Meltdown. Well let's see, you never know, once the world economy gets back on it's feet, Toronto might go back to the small provincial farming town it was before this latest blast of skyscraper construction. Latest Update: Still waiting on word of the design competition that will select a design for what may well be the tallest office proposal Toronto has seen in a long while.