Toronto Flooded With Office Space Spurs Fears Of New Bust - Bloomberg

Toronto Flooded With Office Space Spurs Fears Of New Bust - Bloomberg IIROC Trading Halt - PRV.UN - Yahoo Finance Youre relying on employment to continue and the economy to stay stable. Bay Adelaide The original Bay Adelaide Centre, planned and financed in... More

Toronto Flooded With Office Space Spurs Fears Of New Bust - Bloomberg IIROC Trading Halt - PRV.UN - Yahoo Finance Youre relying on employment to continue and the economy to stay stable. Bay Adelaide The original Bay Adelaide Centre, planned and financed in the late 1980s by retailer Hudsons Bay Co. and developer TrizecHahn Corp., was halted in 1993 when the recession pushed Torontos office-vacancy rate to a record 18.3 percent. With no major tenant commitments, Canadas oldest retailer and its partner stopped the project. Only a six-story cement column, planned as the elevator shaft, was built. Known locally as the stump, it was razed in 2006 when new owner Brookfield Property Partners LP pushed ahead with its own plans for three towers on the lot. The first building at the new Bay Adelaide mega-project opened in 2009 . Over the past 12 months, traction in the social infrastructure project space is beginning to take hold, with projects such as the Long Beach Civic Centre, the Indianapol Less