"De-Institutionalization" for King West Building
Today Crown Property Management and JLL are hosting a thank you event for brokers involved in the 901 King Street West project. When you consider the work that is being done in the 254k SF office building, such an event makes sense. It's in the middle of a unique renovation that is seeing it de-institutionalized, as Crown president and COO Les Miller describes it. Completion is scheduled for September. We have taken a different strategy to this, he says. Taking a building that used to house a bank and leasing it to a brick and beam market of creative types requires fundamental change.
Hard surfaces are being covered with wood. Showers and bike storage have been built in the basement (makes sense to put those things next to each other, being green doesn't mean being smelly), and a direct shuttle from Union Station has been added so workers dont have to drive. The strategy seems to be working, Les says. Only 75k of leasable space remains, with an offer on 24k of that in the books. We are slightly ahead of schedule [on the leasing front], he adds.
Metrolinx yesterday recommended a wide array of new taxes and levies to pay for Torontos transit overhaul. What are your thoughts? Send them to mark.keast@bisnow.com
