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Downtown Toronto faces a crush of rising office vacancies that could threaten building valuations (www.theglobeandmail.com)
submitted 5 months ago by lautan@lemmy.ca to c/canada@lemmy.ca
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With five million square feet of available space across 47 office towers, downtown Toronto is becoming a tenant’s paradise - and an investor’s potential nightmare

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[-] nyan@lemmy.cafe 10 points 5 months ago

Plumbing, apparently, is one issue—residential buildings typically need much more of it than office buildings do. Not an insurmountable problem, but costs $$ to overcome.

[-] kent_eh@lemmy.ca 3 points 5 months ago

The 2 projects I witnessed had to re-do the plumbing, electrical, elevators, fire detection/sprinklers, HVAC, and exterior glass, in addition to gutting every interior wall and doing a full asbestos removal.

It was a lot of work, over several years, but they now have full residential occupancy, so it seems to have worked out.

this post was submitted on 06 May 2024
138 points (96.6% liked)

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