The Latest From Peter Street
One of the more bustling development stretches is Peter Street/Blue Jays Way. So we took a stroll this week to see the latest, starting with Allied’s QRC West building, which'll total 395k SF over two construction phases. Occupancy for Phase 1 is Q4 '14; the big news out of that camp yesterday was that international entertainment company Entertainment One will be the mystery tenant we reported on in late February.
Entertainment One will set up its head office there in a “substantial commitment," according to Allied CEO Michael Emory—70k SF for 13 years, starting in June 2015, over four contiguous floors. Jake Gyllenhaal stars in the one of the current films it's distributing—Denis Villeneuve’s Enemy. (Make sure that BID gets insurance. His films often end with entire cities being destroyed.)
Another project on the stretch well into construction is the 41-storey Bisha Hotel and Residences at 56 Blue Jays Way. Lifetime Developments VP Brian Brown tells us that the firm has completed the excavation and has commenced work on the underground garage. Its tentative occupancy is late 2016. He says the size, scale, and architecture of the buildings under construction along Peter “are world class…each will have a such a dramatic impression on the fabric of the city.”
Tableau Condominiums (which will have an office component) and CentreCourt Developments’ Peter Street Condominiums (mixed-use, with retail along the base) are also in various stages of construction. CentreCourt VP Shamez Virani says it's on the 28th level and on pace to finish in December. Starbucks has signed a lease for the corner retail space, and the Toronto Arts Council will be taking retail space facing Peter Street.
